XL
rOUH MEDFORD. MAIL TRIBUNE Friday. Wot. U. 1944
What About Government Bonds?
Babson Advises Investing In Other Things Also
B Roaar W. Babson
j (Special Correspondence)
; Babson Park, Mass., Nov. 24
How can the huge postwar U. S.
government debt be serviced?
When the total annual expenses
of the government under Presi
dent Coolldge (including army,
navy, pensions, debt interest,
etc.) were only three billions,
bow can we now provide the
money to pay interest alone, of
six billions?
Increasing National
! Prewar national income was
bout sixty billions. Out bankers
state that Washington will pro
Vide the necessary mo.iey to pay
Interest on the $300,000,000,000
debt by doubling this national
Income. By Increasing prices,
land values, etc., this can per
haps be done; but I am not too
sure. Certainly, inflation would
be a dangerous way i'Ut.
Statisticians believe that all
nations must make some read
justments In their huge debts
after the war. They see no rea
son why the United States If
we want our share of foreign
trade should not do the same
thing. If so, how may our debt
be readjusted.?
;' Government Ownership
Some day the banks, together
' With the railroads, public utili
ties and certain large corpora
tions, may be taken over by the
. government. This, how ever, will
rnot happen until the next busi
ness depression. One step, how
ever, we may expect any time.
; This -will be to nationalize the
twelve federal reserve banks and
thus save the government the
i Interest on bonds held by these
' reserve banks.
'! The federal governmend could
also institute a 100 reserve
policy and thus save the gov-
OMARC
CQFFES
I too ethar MONARCH FOODS-.II Inl at OeMl
ernment the interest on all gov
ernment bond held by the
banks. This Is now being advo
cated by the "London Econo
mist." In fact, Geoffrey Crow
ther recently urged such a pro
gram before the Manchester
(England) Statistical s o ciety.
This could be done, he claims,
in a way not to hurt the banks,
although I am not too sure of
this.
Probable Refunding
My own present guess Is that
as the "E," "F" and "Gs" be
come due an entire new system
of refunding will be instituted
which will both save the gov
ernment money and not neces
sarily hurt anyone. For Instance,
maturities up to a limited
amount say $5000 will be
paid In cash. Larger holders can
be given the option: (1) of ac
cepting 2V4 registered 50 year
bonds two per cent being re
tired by lot at par each year, it
being understood that the gov
ernment shall not buy any in
the open market under par; or
(2) of accepting 1 coupon 10
year bonds which would have a
free market and have seme tax
advantage.
Along with such refunding,
legislation will be passed by
congress whereby i n s urance
companies (and this will now be
possible under the recent su
preme court decision) will be
allowed to value such 2V4
bonds at par, and banks will be
allowed to value the 1 bonds
at par whatever either issue
may be selling in the open mar
ket. This program could result
in cutting the federal Interest
costs about in half and ultimate
ly in retiring the bends.
All of the above means that
the federal debt could be de
vided into two parts like the
departments of every bank viz:
a savings department and a
commercial department. Those
who want income vill get 2V4,
but they must be willing to fore
go liquidity until their bonds
are called by lot at par. Those
who want liquidity must be con
tent with 1 interest, but they
will always be able to sell their
bonds. This should be no differ
ent from the way the banks are
now treating us depositors in
their two above mentioned de
partments.
Conclusion
We all should buy our share
of war bonds series "E," "F"
and 'G." During the years ahead
they may or may not be our best
Investment. Only the future can
tell; but this one thing is cer
tain: If we will also buy a care
fully selected list of good stocks,
then we will have two barrels
to our gun. If the bonds go down
in price, the stocks should go up;
while if the stocks go down, we
will have a safe backlog In the
bonds.
T
An army air force treasury
exhibit, "Shot From the Sky,"
comprising a convoy of 23
trucks, stopped overnight In
Medford yesterday en rpute
from Portland to San Jose.'Cal.
The exhibit contained Japa
nese and German planes shot
down in combat, together with
enemy equipment and a big art
collection of battle paintings
made during combat.
Purpose of the exhibit is to
sell bonds in the sixth war loan
drive, to recruit WACs and to
recruit war workers.
THE GRANGE
. Central Point Grange
The Central Point H. E. club
will meet with Mrs. John
Bohnert, Wednesday, Nov. 29
for a one o'clock dessert lunch
eon. Co-hostesses will be Frances
Hamilton and Thelma Dobrat.
Election of officers will be held
during the business meeting.
Eudora Bohnert will give
ideas- on Christmas decorations
and Myrtle Patterson will fur
nish a recreation number.
Daily Weather Report
Forecast
Medford and vicinity: Partly cloudy
tonight: slightly coldtr tonight; Sat
urday, clpudy.
Oregon: clear tonight; lightly cold
er In valleys tonight: Saturday, In
creasing cloudiness with rain near
coast; slighUy warmer Saturday.
Local Data
Temperature a year ago today:
Highest SO: lowest S3.
Total monthly preclpltaUon 3.84
inches. Excess for the month .02
inches.
Total precipitation since September
1. 1044. 4.98 inches. Excess for the
season 1.20 Inches.
Relative humidity at 4:30 p. m. yes
terday 72; 4:30 today 94.
Tomorrow
Sunrise 8:13 a. m.; sunset 5:43 p. m.
Boise
Boston ....
Cmcago
Denver
Eureka H.HWHH
Havre
Los Angeles '
Medford ,,
New York
Omaha ..
Phoenix
Portland
Reno ...
Roseburg
halt LnKa
San Francisco
Seattle
Suokane
Washington, D,
Yakima . ....
38
... 08
,. 87
41
.- 78
SI
. 44
83
68
S3
99
SO
48
81
81
44
.... 48
.... 48
27
30
23
31
31
4S ,
31
49
42
24
39
28
45
41
38
34
27
.03
as
dusing time tot etinday Too Late
to Classify 8 80 Saturday afternoon
Please remember '
3
: FOR DGST SLOGANS OF 10 WORDS
OR LESS WHICH DESCRIBE
TilCtt! Use Rain Drops for dish
washing ,.. for laundry. Notice Its man advantages.
Then, write your slogan In 10 words or less, telling us In your
own words why you like Rain Drops. Sign your name and address
and send your entry to Bu-Tay Products, Ltd., at the address
below. Enclose box top from package or reasonably exact fac
simile thereof. Your grocer has Rain Drops.
EASY INTERESTING FiW4
Anybody May Win One of These 24 CASH PRIZES!
Send Your Entry Today I
1st PRIZE 1 000.00
2nd Prize . . . $500.00 3rd Prize . . . $300.00 4th Prize ... $200.00
5th Prize. ... $100.00 6th Prize $75.00 7th Prize .... $50.00
8 thru 14 . . . $25.00 each 15 thru 24 . . . $10.00 each
CHECK THESE POINTS They May Help You Win I
OtSSCLlTS CREASE: mor 0rease rin9'' ,oaP eurc or '''m around basin,
In laundry tub or washing machine I
Just add enough Rain Drops to water to creote gay blue
color. But use only Vi or less the usual amount of soapl
Makes billows of fast-acting, dirt-chasing suds, even In .
hard waterl Delicate fabrics and colors last longer I
Eliminates extra bluing rinse I Washes clothes bright
white, freshens colors, leaves fabrics soft I
Leaves hands soft and smooth. No red, rough hands or
ruined manicuresl
VDISSOLVES INSTANTLY' wo'"n8' 00 treakiness, no harshnessl A fine powder,
. never coarse or grainy I
(s&tfcAt T&uUAJ Con c0, N0V,mb,f 30. 1944 and all entries muit be
postmarked not later than midnight et that dots All entries submitted become the property
of Bu-Tay Products, ltd Each entry mutt be accompanied by a Rain Drops box top or rea
sonably exact facsimile thereof In the event of a tie, duplicate prltes will be awarded.
Decision of the judges will be flnot.
: VSAVES SOAP:
VSOFTENS WATER:
VBLUES:
VMILD & GENTLE:
U. 8. Eighth Air Force Head-
qquarters, England (U.R) Light
ning pilot 2nd Lt. Jack Denny
of Los Angeles, balling out
wounded from a fighter falling
on Normandy, had had such a
hectic day that he half expected
his parachute to be full of holes.
On the way down, he saw
what he partly expected. Said
Denny: "The damn thing was."
He was coming down on a
parachute which had been
ripped by flak "and half of the
panels were lint sieves." Below
him was a sandy field, and he
landed In that, hitting hard,
knocking himself out, "and the
Red Cross people who rescued
me told hie later they had to
pull roe out of the ground."
Canopy Blew Off
The hecticness had . begun
when Denny's unit was straf
ing. I was shooting up flak
towers," the 23-year-old Call
fornian said, "and I had just
riddled my sixth tower when
my plane was hit by enemy
ground fire.
'The left engine was hit and
then the tail. When I banked,
PILOT'S HECTIC
DAY CAPPED BY
E
more flak came up and shat
tered the canopy and blew it
off. Bits of the canopy struck
me In the right eya and blood
blinded roe. Then flak hit the
right engine and that started
acting up.
"I called for help over the
radio but my buddies couldn't
iind me due to the low clouds,
so I went on, headed north. I
managed to get up to 11,000
feet but an 88-mm. shell hit the
all tt thm ntotis nfffiln and I
I atawtaA In.fntf altitude.
- "I nursed the plane along,
dropping lower and lower. I
thought everything had hap
pened to me that possibly could
happen. Then out of the clouds,
four FW-190's Jumped me,"
Jumps at 600 Feet
Denny got out of that one by
ducking Into the clouds. But he
was having his troubles.
"I manaced to set along 200
I miles to the Normandy beach
j head," he said, "before the sec
ond engine conked out." It was
I i ,Ha r I U . (
tunc .u jcavu tua. uisuiuuiK,
and Denny did it at 600 feet,
with a parachute full of holes.
When they had pulled him
out of the ground he was taken
to a hospital and awarded the
Purple Heart while he was
stiU there.
Evangelist Patzsck
Attracting Throng
At Nazarene Church
The special evangelistic cam
paign at the Medford Church of
the Nazarene, Holly at First, is
widening its circle of attraction,
according to Rev, Fred M.
i Weatherford. castor.
! Tnnleht. Fvanffellat J! ' 1!.
Patzsch's topic is, "A Timely Ex
hortation." He will give a read
ing in the Italian dialect. He
will also -sing and play the
trumpet.
The evangelist will be heard
three times Sunday. He will
speak at the great Sunday school
rally at 9:45 a. m. at which time
a beautiful gardenia corsage will
be presented to each of the first
100 visitors present. He will
speak at 10:45 a. m. from the
topic, "To Whom Shall We Go,"
Fur Remodeling
and Repairing
Reliniog. Cleaning end
Glaxing
Frances Dallaire Ph. 2526
Woodrow and Crater Lake
How To Relieve
Bronchitis
Oreomulslon relieves promptly be.
u 01
ielD loosen and ei
term laden phlegm, and aid nature
rouble
IS6
the
expel
o soothe and heal raw, tender, ln-
lamea oroncmai mucous mem
ranes. Tell your druggist to sell yov
bottle of Creomulslon with the un
lerstanding you must like the way lt
luickly allays the cough or you an
o have your money back.
CREOMULSION
'or Couzhs, Chest Colds, Bronchitis
and at 7:30 p. m. from the topte,
"The Glory of the Cross." The
public is invited to all services.
Os liau mbuuo Want Ada
The "critical temperature" of
a gas Is the temperature above
which it is impossible to liquify
it by Increasing the pressure.
Tblontgomery Ward.
Coupons ARE
SO USEFUL...
They make credit buying
as easy as buying for
cash.' Add a book of
coupons to your monthly
payment account at
Wards. Then spend the
' coupons like cash for any
merchandise in our store
stocks or In our catalogs.
lite fhw Ilka
cash to buy from
our store stocks.
Give them
Chsutmas
gift envelope.
Shop with them
hi our catalog
department.
117 SO. CENTRAL. PHONE 3930
6 good ways to use
vegetables now available
Parsnip-Carrot Casserole Put 2 cups each of
peeled and sliced parsnips and carrota in alter
nate layers in a well-greased 2-qt. casserole. -Sprinkle
with 3 tbsps. flour, 1 H tsps. salt. H tap.
pepper; add 2 cups milk; dot with 2 tbsps. butter
or margarine. Bake in moderate oven (400 F.)
about one hour or until tender and well browned.
Serves 6. '
Acorn (Danish) Squash, talced Whale Put
whole squash in oven, and bake at moderate
temperature (376 F.) about one hour or until
done, depending on size. Cut in two just before '
serving, dab butter or margarine In each half,
and sprinkle with a little brown sugar and salt
.mixed together, or with salt and pepper, and
return to oven for a few minutes.
Or Stuffed Stuff halved raw Acorn (Danish)
Squash with hash or Spanish rice or sausage mix- '
ture. Bake in moderate oven (375 F.) about 50
minutes or until squash la tender.
Mashed Rutabagas (Yellow Turnips) and
Potatoes Pare and cut rutabagas lengthwise
in halves or quarters, or dice them. Cook, cov
. end, in just enough boiling water to keep them
, covered, until tender (about 20 to 30 minutes).
1 Drain; season with salt and pepper, cream or
milk, and butter or margarine. Mash and com
bine with equal amount of mashed potatoes.
aked Pumpkin (Incidentally, winter squash
is interchangeable with pumpkin in this and
many other dishes). Cut pumpkin into pieces
suitable for serving. Remove seeds, but do not
peat Place In single layer in large shallow baking
dish, and bake in moderate oven (400' F.) about
one hour or until tender. Season with salt, pep
per, sugar, and butter or margarine. Serve on
shell, or scoop out, mash, season, and serve.
Rutabagas (Yellow Turnips) Au Oratln Com
bine 4 cups of diced cooked rutabagas with
2 cups medium white sauce, adding Vi cup grated
American cheese, and seasonings to taste. Place
In well-greased casserole; sprinkle top with a
little additional cheese; bake in hot oven (450 F.)
about 20 minutes', or until cheese is melted and
rutabagas are thoroughly heated.
Safeway
Homtmaitrs' Burton
JVUA US WRIOHT. DlncUr
' 1
Straight from the country i
Keally fresh fruits and vegetables! What an inspira
tion for delicious meals and naturally fresh is the
way Safeway sells produce. Take advantage, too, of
bafeway's method of pricing fresh fruits and vege
tables by weight You get your money's worth ebery
purchase.
SQUASH, half or whole, lb. 4c
POTATOES, Klamath Gems, U. S. No. 2, 50 lbs. $1.19
CABBAGE, crisp solid heads . lb. 6c
ONIONS, local Sweet Spanish ............ 50 lbs. $1.59
IMS
J V I
Speed the Victory: Support the 6th War Loan!
LUX
SOAP
FLAKES
A',"-21c
Edwards
Qualify Coffee
. Jar 23c
45c
n Idaho Reds or 5-lb. bag 2-lb. A.
DG3IIS Sma" WM,M 43e bl9 .afcl
DUZ
GRANULATED
SOAP
s;2ic
SPLIT PEAS a-ib, O Ac
Green and yellow. pkg. aRaT
M-J-B RIGE md. Oc
White and brown. pkg. Mmm
DRIED PEACHES 2,b. OOc
Clean, tender Del Monte, pkg. M
RAISINS b.OAc
Seedless Thompsons. pkg. asfolT
CANE SUGAR 5Qc
(Stamps 30, 31, 32, 33, 34, 40) j W
Nob Hill COFFEE
Whole bean, lb. 20c.
Airway COFFEE
Whole bean, lb. 17c.
COCOA
Our Mothers.
HEMO
Borden's.
2-lb.
bag
39c
12c
59
Canterbury Tea -i-.b. J'Sc
Black. Vi lb. 22c' nka. W
3-lb.
bag
Lb.
pkg.
Mb.
glass
THIS VIA DONT r-ORGET TO BUY
CHRISTMAS SIAIS the solar support
I the National Tuberculosis Associa
tion In Its tight against aiseate.
Is.
21
There's Still Time to Enter the
$3375.00 PANCAKE CONTEST!
RINSO
GRANULATED SOAP.
Flour K1,n 25-lb. sack 95c
Flour S".Vom25-lb. sack 87e
Scftasilk 2CvXrp 28c
Macaroni "'p1, 22c
Macaroni XSSS: 10c
Cheese Sprd. (?pRh,.23c
Here's How:
Just tell in 2S words why you
prefer 1 "Cowboy Style or
"Dollar Size" Suzanne pan-.
cakesl Get your entry blank
and rules at Safeway!
Suianna Pancake Flour
2'i-lb.IC
pkg. 13
3'2-lb.
pkg.
19'
sl4B rJjllMSJae WB I
PINE- p,-. SheMord Cheese I Q
I Willis 2dU. 5-c-x. I
APPLE
VaIuaaU Cheese Kraft
I pts.) Vi-lb. pkg.
Sno-While Sail
Plain or
Iodised! pkg.
24c
7c
Regardless of cut er prke Safeway Meat Is guaran
teed to please yen.
lb.
SAUERKRAUT...... 15c
wieners:
SAUSAGE
HAMBURGER
Boneless Sirloin Steak 35c lb.
BEEF SHORT RIBS 35c lb.
35c lb.
28c lb.
28c lb.
SUGAR BELLE PEAS, Fancv No. 2
Can 16c
TOMATOES. Cardenside (30 ots.)
No. 2Vi Can 15e
GREEN BEANS, Briar Gate,
No. 2 can 17e
DICED BEETS, All Cold, No. 303 jar 12c
SPINACH, Emerald Bay, No. 22 cn. 17e
TANG, PREM MEATS, 12-oz. can 29e
NuMADE MAYONNAISE . pt. 27c
yuart ar ... 47c
SALAD DRESSING, Duchess pt. 23e
Quart jar 35c
FRUIT JELLY, Tea Carden,
20-oz. jar 26o
GRAPE JAM, Llbby's Amita,
2-lb. ar 35e
APPLE BUTTER, Libby... No. 2Vi jat 31e
APRICOT JAM, S & W 2-lb. jar 48c
TOMATO JUICE, Sunny Dawn,
(40 pts.) 46-oz 21e
CHERUB MILK (1 pt. can) 3 tall cans 25c
MADEIRA WINE (Similar to Sherry)
Fifth $2.39
MADEIRA WINE (Similar to Tokay)
Fifth '. $2.39
MADEIRA WINE (Similar to Muscatel)
Fifth $2.39
KELLOGG'S PEP .;. 8-oz. pkg. 9e
GRAPE NUTS They're Good!
12-oz. pkg. .. 13c
Ivery purchase yea make at Safeway must please yea
ene hundred percent er your money will be refunded
In hill.
Ves, the Average Food DoRar
Oo.l Further at Safeway
Food is priced at Safeway to save yea
money and yet provide you with the
beat quality available! Try buying all
your food at Safeway, and note the
real savings!
SAFEWAY
Prices effective
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