Word: schweitzer
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...Regarding "The Rich-Back to the Ould Sod" [June 28] perhaps the most conspicuous Mellon by his absence from the family's rendezvous was Larimer W. Mellon Jr., who, as a physician, dedicated, built and for the past twelve years has run the Albert Schweitzer Hospital in Deschapelles, Haiti along with his wife Gwen. Larry Mellon's forte has been in giving all of his monies away to a hospital cen ter dedicated to the care of over 300,000 patients in a rural setting who otherwise would be without this resource. He is my nominee...
...With Schweitzer's full approval, the central bankers of the U.S. and six other leading industrial nations revised a key part of the world's monetary rules. They agreed to stop buying and selling gold, and to use their remaining store of the precious metal only to settle debts between nations. Thus out of their hastily called weekend meeting was born a two-tier pricing system for gold. For central-bank exchanges of gold and dollars, the familiar $35-per-oz. price continues. For speculators, hoarders and industrial users, the price was freed to find its own level...
...Schweitzer, his wife Catherine and their daughter Juliette, 13, have come to love the U.S. They live in the same whitewashed brick house he occupied during a 1947-49 stint as a financial counselor to the French embassy. (It just happened to be for sale again when he returned.) Their son Louis, 25, is a student in Paris. Schweitzer finds Washington social life a bore, likes to putter in his garden, walk with his family in his spare time. He has become a fan of hamburgers, motels and dry martinis. At home, he drinks California wine ("to help with your...
Both as a diplomat and financial fire man, Schweitzer has carried IMF's prestige and power to a new eminence. Example: in 1949, when Britain devalued the pound from $4.04 to $2.80, the IMF learned about it only belatedly. Last year the British consulted with the fund for weeks before making up their minds how much devaluation to risk. Afterward, the IMF gave the U.K. a hefty $1.4 billion stand-by credit to help it get back on its feet. As one condition, IMF aides scrutinized and gave tacit approval to the draconian British budget introduced last week...
...Schweitzer's main concern nowadays is to complete the biggest change in the IMF's 24 years: creation of a new international money - paper gold - to take the pressure off dollars, pounds and real gold in bankrolling world trade and investment. It goes by the clumsy name of "Special Drawing Rights," or SDKs for short. Actually, SDKs would have some characteristics of currency and some of credit. They would consist of wholly artificial reserves, carried on the IMF's books as a separate fund and backed by pledges of contributions from IMF members in their own currencies...