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The Daily Tar HeelWednesday, September 13, 19893 'This is what dry is' UT-Austin fraternity rush AUSTIN, Texas Rushees at the University of Texas at Austin saw or rather tasted rush in a new light this fall. The 29 fraternities comprising the Interfraternity Council (IFC) unani mously voted to implement a new no-alcohol policy during rush activi ties, said Scott Wilder, council direc tor. The basis behind "dry" rush is to get better quality members without the influence of alcohol, Wilder said. "After this year's rush, the fraterni ties could see who was interested in the people and not necessarily the parties and alcohol." Even with the changes rush was a success, and fraternities "fared well if not better than usual," Wilder said. Two alleged violations of the new policy are being investigated. If found guilty, the two fraternities face $500 fines or social probation. "For the first year, only two violations is not bad," Wilder said. "Some fraternity members still do not approve of it, but all the frats are following the new regulations," IFC President Cliff Vrielik said. Rutgers may add civics course NEW BRUNSWICK, N.J. Students at Rutgers University may now have a chance to help make the campus more service-oriented and to help administrators develop a course in civic leadership. The course, which would intro duce students to service opportuni ties available on campus and in the community and provide leadership training, is part of a proposal pre sented to the Committee of Educa tion for Civic Leadership (CECL) by the Student Advisory Committee, the Intercollegiate Press Bulletin re ported. The CECL had recommended a community service program be developed. Subject matter would include governance of the university and the role of the citizen in local, state, federal and international civics. Stu dents would be involved in choosing the curriculum, and it could be man datory for all freshmen. W. David Burns, assistant vice president for student life, called the proposal powerful. "I have a lot of faith and confidence in students. Something like this justifies that - confidence." ' Religious symbol causes dispute TEMPE, Ariz. A cross stand ing atop Danforth Chapel has sparked Across the Campuses a religious debate on the campus of Arizona State University, according to the National On-Campus Report. The cross has been in place since 1948, and some members of the university's faculty and student government want the Christian symbol removed. "Because of the diverse religious backgrounds on campus, the faculty senate feels the chapel is acting in an exclusionary manner," said Tyrone Meighan, a staff member of the school's paper. The faculty and student govern ment groups motions say the cross should be removed and the building should be renamed and turned into a multi-faith facility. Despite the motions, university President J. Russell Nelson decided the cross would remain where it is. He said a majority of the campus community supported the cross. The president made his decision, but the issue isn't resolved, Meighan said. Report proposes end to trimester NORTHFIELD, Minn. Admis sions studies reveal students at Car leton College are oppressed by aca demic pressure, and the university hopes to relieve the problem with a proposal to change the current tri mester system. "With the trimester system, stu dents are cramming a lot of informa tion into about 10 weeks, rather than the common 14 or 15 weeks," said university registrar Patricia Blon quist. Less than 5 percent of U.S. col leges and universities follow a tri mester system. A report by the Committee on Priorities for the 1990s proposes the school switch to a 4-1-4 calendar in which students would attend two 14 week semesters and one 1 -month session in which one class would be taken. With a new system, more material can be covered in classes and labs, material can be covered in more detail, and less time is spent taking final exams, relieving some of the fatigue felt by students. compiled by Jannette Pippin Experts wary of dollar's rnsnimg valoe By ALAN MARTIN Staff Writer The rising value of the dollar com pared to that of foreign currencies is alarming many economists in the United States. The dollar has appreciated 20 per cent against the Japanese yen since the first of the year. When the dollar appre ciates relative to a foreign currency, $1 buys more of the foreign currency than before. Economists say this appreciation is worrisome because it reduces the sale of U.S. exports and increases the de mand for imported goods in America. In such a situation, a dollar can buy goods based on the foreign currency cheaper than goods based on the dollar. This means that it takes more of a foreign citizen's currency to buy a dollar, making U.S. exports more ex pensive in foreign markets, said Patrick Conway, professor of international economics at UNC. One example of this problem can be found in the wine market, Conway said. If French and American wine makers can sell comparable bottles of wine for 20 francs and $4 respectively, the ex change rate is 5 francs for $1. If the News Analysis dollar appreciates 20 percent, the new exchange rate is 6 francs for $1. An American wine consumer still must pay $4 for the domestic wine, but he can buy the French wine for $3.33. The cost to a Frenchman for an Ameri can bottle of wine would be 24 francs. In both markets, French wine and all French goods will sell better than American goods. This increases the U.S. trade deficit, and it is possible that the loss of sales by American firms will lead to higher unemployment rates, Conway said. The blame for the appreciation of the dollar lies with the Bush administration and our economic allies, said Randall Henning of the Institute for Interna tional Economics in Washington, D.C. U.S. assets are attractive to foreign investors, as reflected in the recent trend of Japan and other countries purchas ing U.S. bonds and investing in U.S. industries, Conway said. This activity requires dollars for transactions, so dollars are in high demand. Consequently, the price of dollars goes up, Henning said. But this market force can be over come with the right monetary and eco nomic policy, he said. If the federal government deficit were significantly reduced, it would lower the interest rate in the United States, which would make foreign investment less attractive and reduce the demand for dollars. The dollar could be managed even more effectively if the United States and its primary economic allies Japan, West Germany, Britain, France, Canada and Italy were to better coordinate monetary policy, Henning said. If these countries sell part of their reserves of dollars together, the increase in the supply of dollars in the money market will decrease the value of the dollar. Responsibility for both these courses of action lie with the Bush administra tion, Henning said. Depreciating the dollar is very im portant because it is the primary way to control the massive trade deficit, he said. The trade deficit is an indication of the government, corporations and citi zens of the United States consistently living beyond their means, Conway said. As a whole, the country has been consuming more than it has been pro ducing, Henning said. The trade deficit is being financed by issuing IOUs to foreigners and al lowing them to purchase American assets, he said. Conway believes the only means for reducing the deficit besides devalu ating the dollar is a general change in attitudes of spending and saving. The federal government should be more fiscally responsible, and consum ers must rediscover our forefathers desire for saving, Conway said. He said the United States does not have this tendency to save because most Ameri cans have not lived through a depres sion or severe recession. Conway said a recession is not nec essary to cause this conge in attitude. If the world were to stop accepting American debt, the United States' inter est rates would rise as American bor rowers looked for domestic investment. A higher rate would prompt savings by consumers, making more Ameri cans live within their means. But such a change is likely to slow capital expan sion and possibly trigger a recession, he said. Jurors in Bakker trial take 'video tour' From Associated Press reports CHARLOTTE Jurors watched videos Tuesday showing the opulent lifestyle of PTL founder Jim Bakker, including a 4,000-square-foot suite in a hotel at the PTL ministry's Heritage USA theme park and retreat. The video tour was conducted by James Taggart, Bakker's former inte rior decorator, who was sentenced to 17 years in prison and fined $500,000 last week for tax evasion while at PTL. Taggart said the suite could be divided into three smaller suites for the Bakkers and their two children. The presidential suite in the Heri tage Grand Hotel at Heritage USA, outside Charlotte in Fort Mill, S.C., was used occasionally by the Bakkers, who also had a five-level parsonage at nearby Lake Wylie. Reporters could not see the video screen as Taggart described gold-plated swan bathroom fixtures, antique beds and mirrored walls in the bedroom. He said the suite included a 10-by-60-foot closet for Bakker's wife, Tammy Faye. Bakker is charged with 24 counts of fraud and conspiracy and faces 120 years in prison and more than $5 mil lion in fines. Prosecutors say he used nearly $4 million in ministry funds to finance a lavish lifestyle. Taggart and his brother David were convicted of evading $525,000 in in come taxes on money they received from PTL. Prosecutors have indicated they might support a reduction in the Taggarts' sentences in exchange for testimony against Bakker. Under cross-examination by defense lawyer Harold B,eoder, Taggart testi fied that other celebrities also used the presidential suite. In other testimony, Thomas Trask, treasurer of the Assemblies of God of Springfield, Mo., testified that Bakker had nearly $794,000 in the denomination's retirement account on May 6, 1987. ft We've always had the best frozen yogurt! Now with our remodeling done, we have the best place too! Come Check It Out! K 'I. A yy M$oS 942-jPURaiP 493-8594 106 w- Franklin St 4711 Hope Valley Rd. 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Daily Tar Heel (Chapel Hill, N.C.)
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Sept. 13, 1989, edition 1
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