10 Capital Journal, Salem, Or., Monday, Orlotwr 10, 1949
i'
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Returns from Hawaiian Fact Settlement of the Hawaiian
dock strike behind him, longshore leader Harry Bridges (left),
arrives in San Francisco from Honolulu. The settlement
called for an immediate Increase of 14 cents an hour and an
additional increase of seven cents m-ti. i
phane-wrapped leis he's carrying just to prove, if proof were
needed, that he's been in Hawaii. , u ...
Mrs. Bridges, Joseph Rodgers, who met him on arrival from
the Islands. (Acme Telephoto)
Two New Stamps
Available Soon
vsvet Weaas' bow j
Two new stamps were placed
in circulation by postal authori
ties over the week-end and they
are expected to be available at
the Salem post
office in the
near future.
A lS-cent air
mail stamp com
memorating the
75th anniversa
ry of the Uni
versal Postal
Union and the
S cent Edgar Allan Poe com
memorative constitute the most
recent editions for use of the
general public and for the al
bums of collectors.
The central design of the air
mall stamp shows the world be
ing encircled by doves carrying
messages. The words "Universal
Postal Union" appear in a single
lint across the lower border.
Just above each end are the
dates 1874 and 1947.
The 3 cent Poe stamp com
memorates the 100th anniver
sary of the death of Edgar Allan
Poe. It bears a likeness of the
lamed American poet and critic.
The framework and dimension
of the stamp conform to the po
ets group of the famous Ameri
cans series of 1940.
Early Period Gervais
Weekly 60 Years Old
Gervais G. T. Wadsworth,
president of the Gervais branch
of the Bank of Oregon, has in
his possession a copy of the
French Prairie Gazette, printed
at Gervais, May 15, 1888, which
was a semi-monthly newspaper
owned and published by McKin
ley Mitchell at a subscription
rate of 50 cents per year. Louis
Lemmery, an early resident of
the French Prairie country was
the subscriber and this copy is
the property of his nephew, Ben
Lemmery.
The Gervais Weekly Star re
placed the Gazette in 1900 and
continued until two years ago,
when it was completely de
stroyed by fire.
More than five million Amer
icans work as truck drivers.
New
Out-A-Sight
Hearing
If You Hovt Hesitated
wcurtni better brtrtnt bee him you
did not want to be arm wesrlnc thit
llttl hcarm "button" In your car.
bMltatt no lonierl lt'a out of ilihtl
Mail Coupon Now
SONOTONE
193S State St., Salem, Ore.
Wllbo.t blilfttion I W..M Ilk
Inm Irra.t f Invlalhl Hr.rln.
rirM f.rnt.h Mr with t.rlhtr
lnr.rin.lloa About Inrlalbto Hear-
NAME ...
! ADDRESS
CITY .
the government must pay in
terest. So the government has a
double job in handling that
debt: to pay off some of the
debt while at the same time
paying interest on it.
The man and his employer
who pays a total of two per cent
social security tax on the man's
first $3,000 of salary, also pay
income taxes.
And part of their income is
used for paying off some of the
interest on the debt including
the interest on the government
bonds bought by the social sec
urity fund.
Social Security Funds Are
Used to Cut National Debt
By JAMES MARLOW
Washington, Oct. () Do you ever wonder what happens to
the social security tax you pay into the old-age pension plan?
There are arguments over how that tax money is handled. But
there is no sign that the present system will be changed.
The arguments will be outlined briefly here. But, first, here
is the background.
If you're covered by the pen
sion plan, you and your boss
each pay yearly one per cent of
your salary up to the first S3.0U0
That's a total of two percent
you and your boss pay. ine
government now is collecting
yearly about $1,800,000,000 that
way.
Out of that, it's paying yearly
in pensions and other benefits
about $700,000,000, leaving a
yearly reserve of around $1.
100,000,000. Since 1937, when it first start
ed collecting this tax, the social
security system has built up a
reserve of around $11,700,000,
000. The money doesn't lie idle.
Congress said it should be in
vested in government bonds,
which now pay around 2 V. per
cent interest.
So the social security reserve
fund, invested in those govern
ment bonds, is earning money.
So much for that for a moment.
The government has a debt of
$255,000,000,000. It got into that
debt mainly in the war and de
pression days.
That's when the cost of run
ning the government far ex
ceeded the money it was able to
collect, mostly in income and
corporation taxes.
So, at it got further and fur
ther into debt and needed extra
money to keep going, it bor
rowed money.
It did the borrowing by sell
ing bonds to banks, life insur
ance companies, you and me.
and to the social security re
serve fund.
On all the bonds it sold, of
course, including bonds sold to
the social security reserve fund,
...as a woman's bag
-that's
FilES-TO-LCGS
THE CONVINWNT, ClIAN,
IFFICIENT FUEL
it 'im mm
CAPITOL LUMBER CO.
N. Cherry Ave.
Phone 38862 or 24431
If you're moving .
Want To Know A Secret?
You can save up to
Half on your moving
bill if you
Rent
P-
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Truck Rental Service
By Th Hour-Day-Week-Month
Special Refrigeration Trucks
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Gas & Oil Furnished
SMILING JACK'S SUPER SERVICE
Cenfer end Church Ira,
Phone J-9600
Critics of the present system
say this is double taxation. They
suggest that the old-age pension
plan be placed on a pay-as-you
go basis, which means:
Instead of collecting enough
social security taxes every year
to pay out social security bene
fits for that and still have left
over to build up a reserve that
can be invested In government
bonds, the government should
collect yearly from the people in
old-age pension coverage enough
money to pay the old-age pen
sion expenses for that year.
Those in favor of the present
system argue if the government
had borrowed from banks or
other private organizations, by
selling them bonds, the govern
ment would have had to pay
interest on them anyway. So
part of the income tax money
paid by people who also pay
the social security tax would
have had to be used in paying
off the interest on the bonds no
matter who had bought those
bonds.
Yamhill Legion Units
Meet at Pleasantdale
Dayton The Yamhill county
American Legion and Auxiliary
pow-wow will meet at the Pleas
antdale school house October 14.
The entertainment committee:
Mrs. Pauline Fowler, chairman;
Mrs. Zetta Murphy, Mrs. Lulu
Lichenthaler, Mrs. Grace Wiley,
The refreshment committee:
Mrs. Gertrude Gibbons, chair
man; Mrs. Muriel Sweeney, Mrs.
Eva McDougal.
Million
0
CASH LOANS Auto or Personal
'100 1. '1000
COMMERCIAL
CREDIT PLAN
Salem Arency: 460 N. Chorch 8t Tel. $416$
Come One Come ALL
Bendix Laundry Forum
TUESDAY, OCTOBER 11
2:00 P.M. AND 7:30 P.M.
at
PL UMB I HO -HE A TINQ
PRIZES
V ROEBUCK AND CQ.
t
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JAC SHI EH"
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.69
Boyville Jr. Cotton
Flannel Robe
3.49
Popular blue, maroon plaids or
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robe has cord trimmed pockets,
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Boyville Jr. Knit
Cotton Pajamas
1.98
Worm, comfortable 2-pc. strl
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fellows 4-10. Sanforized
max. fabric shrinkage lt
Boyville 32 ox.
Wool Pea Coat
5.95
Smooth worn nenpv Mv
token rough, tomqk war.
Cotton ptovd Ibwtg. AMhof
design bottom. 4, e,
Elastic Top Socks
Long Weoring Boyville Quality
3 pr. for 73c
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rayon stack Kxki In eiany bright
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Save . . . It's only 1.89
Sued Mood aviator stylo helmet of
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Small, medium, large sizes.
Boyville Mittens
Fleece-lined 1.00
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Durable Dungarees
Cut Over Gioduated Patterns
1.98
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Boys' Union Suits
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Heavyweight, ribbed knit, knee
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Men's Nation-alls
Covert Suits
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4.49
Rugged work suits to take
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Oxford gray In sizes 34 to 46
Heavy Cotton
Whipcord Pants
Handsome Forest Green
Shop 'til
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Friday Night
int,
Mountain Cloth Jr. Pants
2.69
To1 smart sryftnft
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I . . at Ms smf sawing Sean
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Long staple combed cotton yarns. San
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Boatsail drill pockets, regular style,
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429
Matching Twill Shirts
For neat appearance on nor off the job.
Cut full and roomy over Sears graduat
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249
Plenty of Free Parking - Shop in Air-Conditioned Comfort
550 N. Capitol St. - Phone 3-9191
'j
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