Big bankers' 'grave concern' for cash deal

SENIOR finance ministers and central bankers of the European capitalist countries again expressed concern over the rapidly deteriorating international monetary situation when they met American representatives in Paris yesterday.

They told US delegates to the top monetary working party of the Organization for Economic Co-operation and Development (OECD) that President Nixon's large budget deficits and 'easy money' policy were undermining the recent Washington currency realignment.

They pointed out that since December 18, when the Group of Ten countries agreed on realignment to devalue the dollar, virtually none of the large pool of dollars held overseas has moved back to the US.

The Europeans say this is chiefly because interest rates in the United States are maintained lower than in Europe, discouraging dollar-holders from repatriating their funds.

The American delegates-led by deputy Treasury underSecretary Jack Bennett - were firmly opposed to any increase in American interest rates. They argued that the rates must stay low to encourage US industry.

Nixon anticipates a $38,800m budget deficit for the financial year ending June 30 and a further $25,600m for the following year.

On Monday, his aides went before Congress to request a record $50,000m increase in the Federal debt ceiling to a limit of $480,000m.

As far as Nixon is concerned the Washington agreement is simply another way of making Europe pay for the economic crisis.

His Treasury John Connally said yesterday that CONNALLY: OTHERS CRITICAL foreign nations tended to criticize US domestic policies when they found themselves in a good economic situation.

'But they do it on the assumption they can pick on us and we won't pick on them,' he said.

Nixon and Connally are out to prove them wrong. • GOLD soared above $48 an ounce in London yesterday for the first time since the two-tier system was introduced in 1968. The price reached $48.10 at the afternoon fixing-—more than • 60 cents up on the morning fixing and 85 cents above the overnightilevel of $47.25. The latest 'free market' level is $13.10 above the 'official' price of $35 an ounce. ..PRINCE JUAN CARLOS TAKES THE OATH AS SUCCESSOR TO GENERAL FRANCO, head of Spain's fascist state, has warned of 'subversive elements' who are influencing young people in Spain as a means to achieve their objective of 'dividing the Spanish people'.

Speaking at the opening of the 12th National Council of his National Movement-the only political grouping permitted in Spain-Franco said these forces 'do not miss any ways of introducing their activists among young students and workers'.

His statement came less than two weeks after violent clashes between students and police Madrid: university and severe student disturbances in other parts of the country.

With Prince Juan Carlos of SADAT TO SPEND THREE AFTER two days' seci et talks with his main Arab allies, Egyptian President Anwar Sadat is set to fly to Moscow for discussions with leaders.

He spent Sunday and Monday in conference with Libyan president Muammer Gaddafi and two top aides of Jaafar el-Numeiry, the Sudanese dictator.

Sadat is pressing for more Soviet arms following American decisions to sell Israel more Skyhawk and Phantom jets.

He plans to spend three days talking to Soviet chiefs in Moscow before travelling to Belgrade for discussions with president Tito of Yugoslavia.

One of his chief concerns is the growing demand in Egypt for military action to drive Israel out of the territories occupied in 1967.

Sadat has for months been blustering about attacking Israel, without making a single real move towards war.

His bluff was called last week by students in Cairo, whose mass demonstrations calling for action against Israel sparked riots in the capital.

Thirty alleged riot 'ringleaders' are in prison, and Sadat has said INFLUENCE OUR YOUTH -FRANCO FRANCO Bourbon-whom he has designated as his successor-sitting beside him, the 79-year-old General told members of the National Council their job was to help the government act to preserve the fundamental principles of the movement.

'Our political action must be creative, conscious of new circumstances and dangers offered by the historical acceleration of our times and the threat of materialism', he told them.

Franco reiterated that Spain would continue to be governed under a one-party system.

'Not only are we not enemies of freedom, but we hope to be at the vanguard of its defence,' he announced.

'But that vanguard demands virtues, energy and courage, more than concerning ourselves with excessive formalisr DAYS IN MOSCOW they will be brought to trial.

One of Egypt's leading leftwing journalists has warned that the students will march again.

Abdel Rahman el-Sharkawi, editor-in-chief of the magazine 'Rose el-Youssef" , said the students were determined to purify the nation and would not be deceived by political manoeuvres.

He said Egyptians had not forgotten how the earlier student protests in 1968 were put down by gunfire. In one of the most outspoken comments yet on the 1968 riots heavily censored at the time-Sharkawi accused late President Nasser's followers of torturing student leaders, in concentration camps.

The students have support from a section of the ruling Arab Socialist Union, Egypt's only political party.

One speaker at the party's weekend discussions sa id the questions raised by the : ¡tudents were in everyone's mind.

THE TIMES THIRSTS FOR MORE KILLINGS ERNADETTE DEVLIN was absolutely right when she drew her conclusion from the Londonderry massacre: the Tory government is preparing to use the same naked force against the British working class. nyone who doubts this should read yesterday's editorial in "The Times'. man for ss, ng-at as opinpokesman for ruling-class opinion is a remarkable example of the cold-blooded calculation of the British ruling class when it decides its interests are threatened. After the 13 murders, 'The Times' says:

•.. the least useful thing the government could do in the face of the Derry tragedy is to appear to chop and change its policy' This can • mean only one thing:

intensify the répressions, step up the killings. As 'The Times' 'That policy is to bear down on the IRA with increasing severity until the point is reached at which serious discussion can begin ...

creasing severity! Let every Irishman and every trade unionist in Britain remember those words, which will be repéated and acted upon long after all the crocodile tears for the 13 dead have dried away.

There are people calling. themselves socialists who advocate a solution by collaborating with the Westminster and Stormont governments.

These governments are representatives of the capitalist state machine. The job of that state machine is to protect the capitalist social order. It does this through a monopoly of force. It consists of bodies of IRANIAN COMMUNIST TO DIE A TEHERAN military court has pronounced death sentences on four members of an alleged group of communist guerillas. A sentence of lite imprisonment was passed on another.

Three of the death sentences-on Mehdi Savalini, Bahman Azhang and Hajian Sepelleh-were commuted to life imprisonment, and the life sentence on Ghassem Arzpayma was commuted to 15 years imprisonment.

The remaining death sentence-on Saiid Alemian—is to stand.

The five were among 23 charged with anti-state activities.

SADAT: MORE ARMS armed men: jailers.

The army units who committed murder in the streets of Derry last Sunday are these bodies of armed men.

Starting from these basic principles, the Socialist Labour League has always fought in the working-class movement for the withdrawal of British troops from Ireland. it even now, after the Derry massacre, the Communist Party calls only for the immediate withdrawal of the paratroopers and the confinement of other troops to their barracks! ull withdrawal is to await passing of a Bill of Rights for N Ireland. his is absolute betrayal of the working class. It asks the people of Derry and Belfast, and the miners of Britain, to support the right of the army and the police to keep the kind of law and order which the ruling class requires. his means leaving the ruling class free to carry out the 'increasing severity' advocated by "The Times'. n page one today Bernadette Devlin MP makes an urgent call to the working class in Britain to bring down the Tory government. 'orkers Press completely supports this call and we will work in the factories and on the streets with all those who fight for it.

is for this very purpose that the Right-to-Work marches, beginning from Glasgow next Saturday, have been planned.

The fight for the right to work, the miners' strike, and the Irish workers' struggle, all have one united aim: make the Tory government resign!

MORE GUNFIRESHEIKH Mujibur Rahman has told members of the Mujib Bahini that he does not want to hear any more gunfire in Bangla Desh.

More than 50,000 freedom fighters of the Mujib Bahini have been pouring into Dacca since Sunday and their leaders claim to have surrendered 70,000 weapons with another 30,000 yet to come.

Among the weapons surrendered were rifles, automatic firearms, mortars, recoil-less guns, rockets, mines and grenades.

Sheikh Mujib has assured the freedom fighters that a law has been passed to try collaborators with the Pakistan army and has urged that the law be allowed to take its course.

But this disarming of the freedom fighters can only endanger the victory of Bangla Desh and reassure The capitalists and landlords that their position will remain fundamentally unchallenged.

MUJIB: ARMS SURRENDERED MORE FOREIGN NEWS_PAGE=in

NOT ONLY UCS HAS TROUBLE