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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 22, 1955)
o U.S. Saving Bonds Not Always Met Tests of Sound Investment By L"LE C. WILSON United Press Correspondent Washington U.R) There was a span of years back there before, during and after the war when United 1 M i savings bonds could not meet the tests of a good invest ment. The money was safe enough, and safety is one of the tests. But a good invest- Lyle C. Wilson ment also should show a profit. United States savings or war bonds pur chased in the early 1940s showed no profit when they were cashed in 10 years later. The dollars paid to the treas ury for the bonds in the early 1940s were almost twice as large in purchasing power as the dol lars the treasury returned in the early 1950s. The investor got back more dollars $50 for ex ample, for. $37.50 paid in ten years before. Trouble was, the $50 would not buy as much when the bond was redeemed as the $37.50 would have bought 10 years before. That's what's called inflation of the dollar. It was begun by President Roosevelt in the early 1930s in an effort to help the nation out of a great industrial, business and agricultural de- presswn. The effort was still go ing strong, but without curing unemployment, when along came the peacetime national defense boom and then, the war. Truman Approved Program President Truman inherited and approved of Mr. Roosevelt's big spending program. Mr. Tru man raised spending and taxa tion to new highs for the United States which means for the world, too. Inflation went on U and the dollar continued to O i&rink. '"'From 1939 to 1952 the dollar lost almost half of its purchasing value in terms of the average family's cost of living. That was one o$Lthe big issues of the 1952 presidential campaign. Republi can campaigners boldly promised a balanced budget and a stable dollar. A balanced budget still eludes them, although the sharp pencil - boys believe a balance may be achieved nftrt June 30 at the end of the current "fiscal year. z-jBut the Republicans are making jjood on a stable dollar. The Ei senhower doSar is not the big, beautiful pre-war dollar equal to 20 street car rides or 20 ham burger sandwiches. Half Pre-War Dollar It is a dollar worth about 50 centscompared with pre-war. .The remarkable thing about the Eisenhower dollar is thatoit has been relatively Stable in terms of living costs since Mr. Eisen hower took office. The Bureau C6f Labor Statistics offered some evidence of that Wednesday in its monthly cost of, living report The cost of living had edged hi a bit. It was three-tenths of one per cent higher last month tha'n in .November, 1954. More significant is a comnar ison with November, 1952, the month in which President. Eisen hower was elected. The Bureau of Labor Statistics cost of livin index shows an increase since November 1952 of only seven- tenths of one per cent. That real stability compared to the earlier span of years. Stability is especially important not only toward stability continues. If the to owners of U. S. bonds, but to trend is the other way, your all persons with fixed income money might as well be in a resources. burglar-proof safe. None could U. S. bonds will be a profitable steal it, and you wouldn't get a investment again if the trend profit on it there, either. La Prensa Background By UNITED PRESS Background on La Prensa A victory for the free press of the entire world was sealed when La Prensa was handed over formally to Dr. Alberto Gainza Paz. It was a victory over a ruth less dictatorship which had silenced it because it told the truth fearlessly. La Prensa was the greatest newspaper in the Spanish-speaking world under the Paz family. It was independent and in corruptible, and Argentine dic tator Juan D. Peron could not tolerate it. Peron tried to silence La Prensa in many ways, by con stant oppression. He won his temporary victory when, on the night of Jan. 25, 1951 Buenos Aires news dealers at his instigation refused to dis tribute it. Nebraskan Admits . Murder of Wife Lincoln, Neb. U.P.) Author ities charged a young husband today with strangling his attrac tive wife. Darrel Parker, Lincoln's 24-year-old city forester, confessed last night that he murdered his 22-year-old wife Nancy exactly one week ago on Dec. 14. Authorities did not release his signed confession. But they quoted Parker as saying he flew into a rage and killed his young wife because she "was cold" and refused his advances after they had shared breakfast on the day of the murder. Parker tied and gagged his wife's body and ripped the cloth ing from it in a deliberate at tempt to make police think she was the victim of a rapist, Coun ty Attorney Elmer Scheele said. He then went off to work, re turning to his cottage home at noon and telephoning police that he had discovered his wife's near- nude body. In the week that followed, Parker acted the part of a grief stricken widower. He attended his wife's funeral and as at Des Moines, la., yesterday consoling his wife's parents when author ities asked him to return to Lin coln. He was given a lie detector test and then confessed, author ities said. , ' Edible Oil Sale To Argentina Agreed Buenos Aires, Argentina (U.R) An, agreement for the sale of more than $25,000,000 worth, of American surplus edible oils to Argentina was signed here Wed nesday. The agreement approved by LForeign Minister Luis Podesta Costa and U. S. Ambassador Al bert F. Nufer calls for payment in Argentine currency. Seventy per cent of the total will be lent back to Argentina to finance economic development projects, with part of the balance used to finance an educational ex change program. La Prensa later was formally seized and turned over to the Argentine General Confedera tion of Labor, which Peron had made the basis of his political support. It reappeared as a P e r o n i s t propaganda organ. Gainza Paz, it's editor and pub lisher, was forced into exile. . Now Gainza Paz will make it again the great independent newspaper it once was. La Prensa was founded on Oct. 18, 1869, by Jose C. Paz. It has remained under the close personal control of the Paz fam ily. Jose Paz was succeeded by his son Ezequiel. Its leadership descended in turn to Gainza Paz, Ezequiel Paz's nephew. World Famous La Prensa became world fam ous as an independent news paper. Its reputation was built on the serious reporting of world news and an editorial policy which emphasized the principles of democracy and the public good. If campaigned for good roads, better communica tions, better schools and nation al development of all kinds. La Prensa has published 9,883 separate advertisements a- day, and as many as 58,906 words of cable news from abroad in a single. edition, in addition to local and national news. Of its 1,700-odd employees at the time of its seizure, 200 had worked on it for 25 years and nearly a dozen more than 50 years. It is a tradition that in its whole history only three of its employees have been iired. La Prensa, as part of its pub lic service, maintained a public library, a free clinic, a free music school, an institute for public discussions, and free con sultant services on law, agricul ture and industrial chemistry. Buddhist Priesf To Be Guesl of GIs Kyoto, Japan (U.R) A high-ranking Buddhist priest who went into seclusion 10 years ago to avoid contact with oc cupation troops will attend Christmas Day services with American soldiers at Camp Otsu. Ensho Fukuyoshi, executive priest of the Enraku temple on sacred Mt. Hiei, took seclusion after the war ended, determined never again to mingle with the outside world. But his desire to become acquainted with West erners finally became too strong and he came down to Camp Otsu. He was taken on a tour and expressed surprise when shown the post chapel. "But I thought you soldiers were professional killer," he said, ". . . yet you use this church?" At the end of his visit, the priest asked to return Christmas Day and attend church services. The request was granted. Thursday, December 22, 1955 MEDFORD (OREGON) MAIL TRIBUNE FIVE Morse Predicts Test in Oregon Missing Portlander Lodged in Jail Portland (U.R) Rex. D. Lowry, Portland, the 34-year-old insurance adjuster reported miss ing by his wife two weeks ago, today was in Multnomah county jail charged with burglary, car rying a concealed weapon and discharging a firearm within the city. Bail was set at $7,500. Lowry was captured in down town Portland last night after a tense manhunt by officers who feared the man was despondent enough to shoot on sight. He was taken .at the Zombie Zulu night club after shooting up a room he had taken at the New Heathman hotel. Another guest reported the bullet came through the wall of his room. The gun he used was stolen earlier in the day at the county police office where he had vis ited former associates. Lowry is a former deputy sheriff. Two weeks ago Lowry van ished after he left - home for work and later turned up in Chi cago with a friend. He promised his firm to undergo a psychiatric treatment. His wife said he was under a great strain. 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But, under the state's primary law their names could be entered easily without their permission. Morse said he understood both would be entered. ' So far, Stevenson and Kefau ver are scheduled to clash only in the California primary June 5. Kefauver also was understood to be considering entering the Florida primary May 29 which Stevenson already has announced he will enter. But the placing of their names on the Oregon ballot might make that state the scene of their first clash. Morse said he understood both men would be entered in the Oregon primary whether they liked it or not. A petition signed by 1,000 Oregon voters is all that is needed to enter a candidate. Negligence Charged In Fatal Bus Crash Stuttgart, Germany (U.R) Charges of negligent homicide and negligent assault have been filed against the driver of the bus which struck a bridge pillar, killing the wife of Walter Gies eking and an American sergeant, it was announced Wednesday. 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