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THE SUNDAY STAR, Washington, D. C. SUNDAY. JUNE IS. IMW • DeGoulle Tells French To Lend Buried Gold Continued From First Face stored by declaring grandly that France is again great. But fiscal experts are not so sure. Here's how they describe the situation: France Grows Rich France as a country is rich and rapidly growing richer. In eight years of boom, its national product has gone up 45 per cent, considerably more than America’s, while her pop ulation has risen only 7 per cent. The boom is still on. The American recession has had only slight indirect effqct on France. But a fair share of the profits from this boom do not go to the government. The average Frenchman puts his savings After You've Seen Them All ... See How Only Ha Saveslr Hu OPERATING COSTS RHEEMAIRE Central System The Firs* Major Air- Conditioning Improvement in 16 Years RHEEMAIRE'S Revolutionary New System Cools Your Entire Home More Efficiently. Eliminates Noise, Space Problems and Costly Installation 1 Pi WC | Because Rheemaire's compact size cuts produe ▼ S* • tion costs without cutting Rheemaire's omozing cooling power! C A\/C f Because the Rheemaire System Uses No Expen ™ • sive Cooling Tower, yet the ingenious new woy of cooling the condenser almost DOUBLES THE RHEEMAIRE COOLING POWER. CAWC | Rheemaire operating costs ore almost HALF t . TH E COST OF ORDINARY AIR CONDITION ING, ond the Rheemaire Central System con be installed of Tremendous savings. IMMEDIATE INSTALLATION I *I,OOO Capacit Guarantee IJy^j So carefully has this unit been tested ond approved thot Rheem has guaranteed the Rheemaire to operate at its rated capacity. Only Rhrem Gives You This Guarantee IJ^O M PROOF THAT RHEEMAIRE ALMOST DOUBLES THE COOLING CAPACITY |afhyry OF ORDINARY AIR CONDITIONING! IVIUnkI RHEEMAIRE ORDINARY DOWN UNITS UNITS 1 H.P unit deliver** 1 H.P unit delivers And 5 Years k lASfonicooling I ton cooling *• t*v IVj H P unit delivers IMiH.t unit delivers TODAY 2.6 tons cooling FOR FREE 2 H P unit delivers l 2 H.P unit delivers SURVEY! 3.3 tons cooling I^2_tonsjjOolinj^ 3 H.P unit delivers 3 H.P unit delivers in Top F VrrformVnce 5 *°ns co°''»9 3 ♦«"* coolin* • nrt Lon Oper.tm. ) mi** A FREE turvev Call Today—Sunday And full txplifiition _____ me of how Rhe«m»irw PI M MUM* Mm yrR/r&'gi EL- 6-4069 AbßOlutelT No Ot>U- um ■ NPNfNt Cfttion' Weekdays Coll JA. 5-2503 t into gold coins and buries them. This gold is lost to the econ [ omy and lost to the tax col lector. > The government gets soft francs, not hard money. The Frenchman traditionally puts his faith in his little gold i hoard. He believes It retains ■ its value while the franc sags > and he knows he can dig it > up and take it with him if the P catastrophe he always seem* •to expect occurs. Also, the r hoard is tax free. . $4 Billion in Gold 1 ! It Is estimated there is about 1 $4 billion in gold hidden in this s way. And another $5 billion 3 to $6 billion In gold and dollars e is held by individuals and cor s porations outside France, also las a hedge against the French [future and the tax collector. The government Is holding nickels and dimes In compari- i son. The exact figures on i French hard money and gold reserves are not made public, j but It la reliably estimated the i ; government now has only »200i l million on hand or easily ob-1 : tainable. Spending la exceed- I lng income at a rate approach- 1 ing SIOO million monthly, so 1 cash will hold out Only until 1 mid-August. 1 In August, the Government can still meet commitments by ' borrowing from the Bank of 1 France. But bank gold and ' 'dollar reserves are only good I for another five months. By any sound fiscal standard l none of this money should be 1 considered spendable. France 1 has many outstanding debts that should be secured by these < meager hard money holdings. If the Government could get its hands on gold salted away In * mattresses, under apple trees and in Swiss banks. France could live as she is for another 10 years. General de Gaulle's announcement this weekend of a public loan drive la an attempt to get hold of these hoards. S4-Year Bonds He told a French television audience he is floating long term, 54-year bonds carrying 3Vi per cent interest. They would be tax free, completely negotiable with an unregistered par value pegged to the price of the gold “Napoleon.” A hoarder will be able to dig up his pot, carry it anony mously to the bank, buy bonds and keep them—even leave I them to his children without tax or government recognition that he owns or is spending anything at all. Frenchmen vyho have hidden assets abroad contrary to French law can bring them back without the [legal 25 per cent penalty and “discreetly,” as Mr. Pinay says, turn them into these bonds. At the same time Mr. Pinay [is trying to discourage traders ; who are speculating against the franc. In effect these specula tors see to it francs are never | changed for hard money except when the franc is exception | ally weak. Right now the franc sells on the free International market for around 440 to a [dollar (the legal rate.is 420). Traders aren’t trading now but are waiting for 460 and dream ing of last years 500. Mr. Pinay says confidence in ■ the franc will stop this specula tion. And confidence plus the legal tax dodge will bring in gold and dollars. Day of Reckoning Due But even if confidence is re stored, a firm franc and new [reserves will only postpone the day of reckoning. For France 'still will be living outside her large income. Stability will come only with I economy. Both economy and confidence could come with the end of the Algerian War. But the war cannot be ended unless the army and the Mos lems are satisfied, j Even if war is ended in some girl*.' tulrr THE HECHT (H.H | SINGER 4rmiMnf.'iHg twnlttUt 2 contests ... 2 sets of prizes Pick up your contest rules today in The Hecht Co Singer Sewing Centers . . . Street Floor, Washington; 3rd Floor, PARKington. GIRLS 15-17 . . . Senior Contest Prizes Grand Prize of SI,OOO 3 Senior National Awards S6OO Each GIRLS 10-13 . . . Junior Contest Prizes GRAND PRIZE of SSOO 3 Junior National Awards S3OO Each Other prizes include portable machines, sew ing cases and college scholarships! the HECHTco Sinter Sewinf CanMrt, Washin«tM It PARICinftMl graceful way, France win face a new danger: recession. The boom la baaed In part on Al gerian spending. If war enda, the economy would slump. Austerity Net Planned So the government plana to spend on a large development | program there to keep the boom going and also to please the army and the Moslems. A real austerity program la not con templated at home or In Al geria. Thia doesn't please those economists who point out that France really needs a recession with high unemployment and a price drop In order to adjust its national finances and then go forward on a sound basis— and really earn the confidence!! of world traders. The only sure thing is that Gen. de Gaulle’s financial ma nipulators must act fast. France Is going broke. LABOR Continued From Tint Page ers Jost on two other attempts to provide for recall of officers. Senator Knowland's defeat apparently crushed the drive by conservatives to stiffen the bill proposed by the labor com mittee. Stnator Kennedy, who was managing the labor committee’s bill, seemed to have the situa tion under control with a loose bipartisan coalition of liberals and moderates. In three long days of debate, no amendment opposed by the Massachusetts 1 Democrat has been adopted. Reject Stiff Penalties . 1 Yesterday afternoon, the : Senate rejected President Ei -1 senhower’s recommendation to 1 stiffen penalties against unions 1 that refuse to file financial re -1 ports with the Gotftrnment. 1 They would have lost the serv • ices and protection of the National Labor Relations Board. ' Earlier yesterday, the Senate s rejected President Eisenhow ; er’s recommendation to stiffen ' penalties against unions that r refuse to fllfe financial reports t with the Government. They ■ would have lost the services ' and protection of the National 1 Labor Relations Board. 1 After this defeat on a 53-to -30 roll call, administration I spokesmen gave up most efforts • to write controversial amend ments into the bill. They of -1 sered only relatively minor re - visions which Senator Kennedy ® was willing to accept. i Senator Knowland and other conservatives, however, con tinued to go through the mo tions of offering more stringent - amendments than the adminls v tration proposed. Despite the e apparent futility of their ef e forts to loosen Senator Ken r nedy’s grip, they hoped to sharpen a major campaign ti issue for next fall. I Hits Mitchell Proposal While agreeing to a batch J of revisions Labor Secretary - Mitchell claimed were neces sary to correct defects in the e committee's bill. Senator Ken- nedy scoffed at them as “In significant and nlcayune." Byway of illustration, .he noted that one of the admin istration's amendments pro vided for furnishing free copies of union reports to State agen cies instead of charging a small fee. Republicans, however, main tained Mr. Mitchell's amend ments were Important and con tended that adoption of some changes vindicated the Secre tary’s attack on the commit tee’s bill. Though (till dissatis fied, they claimed credit for Improving the legislation. Senator Kennedy also ac cepted, and the Senate adopted p KODACHROME™™* I SALE BUY 3 ROLLS AND SAVE —FRESH DATED Roll* Rag. SALE Roth Rag. SALE [ 3-1(135, 20 5J5 4.74 3-Ke4. laa. Mag. 12.00 9.75 3—-K135, 36 1.25 6.69 3—Kod 16mm. Mag. 19.05 15.30 j 3-ICad. Imia. Rail 7.95 6.51 3—Rad. 16mm. R 011.23 10 17.95 # BE SAFE REMEMBER, YOUR FILM | CAN ONLY BE PROCESSED ONCE w s |S IF YOU USE KODACHROME » KODACOLOR !! y w ;j j NAVI THE EASTMAN KODAK CO. DO YQUR PROCESSING THROUGH 1 Sommers Camera R SALES—RENTALS —REPAIRS ■ jj 714 14th St. N.W. ME. 8-5155 (403) Monet, Tulips in Holland, 24x18 (716) Utrillo, Street Scene, 24x18 % \ ' PHONE NA. 8-5100, MAIL COUPON OR COME IN FOR THIS EXCITING BUY Students! Teachers! Decorators! Homemakers! Don't Miss Our SALE! GIANT-SIZE BRUSH STROKE REPRODUCTIONS OF FAMOUS PAiNTINGS • Every picture bought plus pur chase of a frame will be mounted without extra charge! £ • All pictures are on heavy board, | coated with protected varnish! £ • So authentic-looking you can see ond feel the brush strokes! • (303) Utrillo, Ruo do Mont- (337) Ronolr, Tho Skiff, (403) Monot, Tulip. In (333) Gattor, Inland Covo. (613) Utrillo, Mont M. martro, 20x16 30x24 Holland. 24x13 24x20 Mlchol, 24x20 (304) Von Gohe, Ro.tau (342) Do(ja«, Tho Doming (411) Mn.ro, Winter 1323) Ce.grav.. Tho Choi- (622) Vlaminck, Irldgo nontdo Srr.no. Cla.», 2 4x20 Sen., 22x2« long., 24x1* at Moulon, 24?1R (308' Gatsor Foacoful (336) Dufy Ooccorat Party, (437) Ma r q u lO t, loot (324) Coierava, Sovorion (447) Ca.Mt, In tho Horbo), 2?x20 Jo «' 6 Scono.. 24x20 of tho Soo., 24x1l Gordon, 24x20 (314) MoH.m' Still Ufa, (340 ' !? uiito ' „ Au * ,43 *> Vo« G ®sh. Pi.ld at (323) Fouiita. 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Girl With (904) Bullfight Print, 30x24 Orange., 24x18 Women, 20x14 Watering Con, 24x18 14x20 ■ , * V If : -k' _ w« ■r * 'A. . (906) Bull Fight Scene, 16x20 (527) Gasser, Winter Scene, 24x18 Stationery—Street Floor. Washington, Silver Spring and PARKington • I gtX>iecht)A : V \ CO. / V ; by voice vote, an amendment by Benator Bush, Republican of Connecticut, to prohibit loans over 51.600 by unions to their officers. Senator Knowland argued for his referendum amendment as a “tool to help the members clean up” corruption In their unions. Labor leader* oppose incorporating the referendum idea into Federal law on grounds it would lead to har assment of unions and insta bility In labor-management relations. Benator Allott. Republican of Colorado, contended the de feated administration amend ment on union penalties would tigive rank and file members an f (“incentive” to kick out corrupt s officers. But Senator Cooper, r Republican of Kentucky, in sisted it would be unjust to I punish members of the mia t deeds of their officers. i > CAST-IRON LAWN FURNITURE '■ SPECIAL—THIS WEEK ONLY ■ a' 1 1 v" , .\ 'A| I 4-PC. CAST-IRON GARDEN SET Note: Limited Tima Only. Thi. I. a Vary Special Price Other Matched Groups, £ JM AC Separate Choirs, Benches, MU 11. H*l Tables, Cast-Iron or Aluminum; White, Pink, r . Turquoise. All specially B Priced. IN WHITt Completely Assembled on Delivery D. L. BROMWELL -710 12th St™N.W. mTo+L 2" Rate Oak Frpmeg (A.) 20x16, 2.49; (B.) 24x18, 2.79; (C.) 24x20,2.98; (D.) 28x22, 3.49; (E.) 30x24, 3.69. Let us mount them for you! v ' ,-.^3opH9 ■K\ ißr v - '■ Call NA. 8-5100 Any time or Mail This Coupon THE HECHT CO. <Dept. 771, Weehintton 4. 0. C. Please send me the following (minimum order s2l: | Key i Key | Key J Key | Key | Key | IT'ir i ~ i I i """' i i t i l i i i i i 1 I i i~ t i i i i I Print Name ....... Address ...... Apt. N 0.......... City Zone County State □ Chorge 0 Check or MO. □ C.O.D. (25e hondling enargel □ Mdse. Certificate (payable on locol delivery! add *% Sain Tat it »o« Uoa in im»*tn»t«« or Maryland Aid tie tor taovarf and handltnp rha'eti Btpond our trao Solitary arta tor on a itam and tie tor sack additional on. Tops Become Trees DELUTH. Minn. - The tops of large trees cut for timber often yield the best Christmas trees for the annual holiday 'season trade.