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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 26, 1956)
CO 0 0 O o o O o 0 O 0 o oO O o CO O O ftX MTCFOD (OHtSO!) MAIL THIBUNE Wednwdsy. Deembr 21. 1358 o Bhfiaf ion Bogey May Force Spending Cut, Economists Declare o o Washington 'UP' Some thing s got to be cut if tht demon inflation is to h kpt in check. liy cthe Diority manners and ronomists here. It my be gov r?Tienf spending on civilian (program or som projects jytiiiai private businesses have een plahainjfv - . q lo6tary authorities already ) ee indication of tight money's ffgtivnss in the fact that no. oinciitr and state . and q focal pvernrc.ent have put off oOansion and construction of projects if-caus Oi high financ ing costs. hese projt't's.rtre authorities, q foe will be re-introduced an ot''r0 day. wh(in supplies of money materials, nd lab&r are mor geieroi. and the economy has room for that expansion. '-Jlomfiitum 0 iK the business boom has slowed flown some wit. in fce past year. This aUme giiigPt be a clue to stone easing in the tight rrney situation in 17 if (-.international .politics werf not aboil. Nong of the Washington of ficials interviewed by theUnited Press felt they could call "the turn of money in the coiiiing months, bemuse til th interna tional Situation. &i3$sry Spending Rising he only certarftty a they saw it is a coming increase jn military spending, and it is the starting point for every analysis of the economic situation and the nney situation. Bigger expentiture by the gov ernment has an inflationary tiKe, unless it is offset by larg & t?0x return. Bigger spend ing on the military also means griter denftnd for metals, espe cially steel which already is pushing cthe vejry limits of pro djtion capacity. Washington authorities agree iff) several porSts,, Money is very tight. CreiiP restraints tight monee canrvt keep the econ omy inPtnd. The money squeeze has he!ed and it has hurt. Fed eral budget policy must be de signed with an eye to its eco nomic impact. The United States and the world are still faced with some serious inflationary pressures. On the other hand, some industries have overex tended and may slide. The authorities do not agree on whether money is too tight. Might it better be tighter, looser, or as is? Are savings rising enough to fill the loan demand? Do today's intflationary pres sures outweigh the delationary? . Tight money has driven busi ness and government alike to the banks for short-term loans. Normally, much of this business would be long-term borrowing, but the borrowers have been rluttant to tie themselves up for long years of paying today's high interest rates. Short term interest rates, be cause of this demand, have been pushed up close to long-term rates for the first time in 25 years. There have been signs in re cent months that the demand for bank loans was not pressing so hard -as before. Nevertheless, if a business or the treasury has a short loan outstanding where it actually needs the funds for a long haul, that loan must be re financed when it comes due. if interest rates are still high and the borrower thinks they will come down soon, he may re borrow for a short period, post poning the day when he makes the long-term commitment. Whether borrowers postpone or plunge, there is a large vol ume of potential long-term bor rowing in today's short term credit outstanding. There is a deficiency of private investment and savings to feed the boom ing demands for credit. Hence the policy of credit restraint by the Federal Reserve system. That policy is aimed at curb ing inflation and keeping busi ness activity from booming so much that it can only "bust." A Nkh&Hs Worth of . . . Comment On This and That By HARMAN W. NICHOLS Unit.d Prcsi F.ltur. Writer o Emmitsburg. Md. (U.P.i Ever hear of a "cifetorium"" i Well, here is such a thing here in a spank ing new school house squat in j a grassy mead- j ow at the foot ' of Hie age-oid j Cacotcin moun-1 taws. The hall j of learning is i Hone ud in a : A i clash of colors, ! il mo Mchou and looks noth-! lng like school house at all. More like a motel. You might call it the "school ho(ie tt tomorrow." A sort of prefabricated job. The "cafetoriuiu" "is right off j one of the classrooms in this steel, one-story building which will take care of 480 kids, from Jjie picture "book and sandbox (tvj)up tr, grade eight. The new word, which may windup in the next Webster, means about what it says. The roim a combination cafeteria. g mnasium and auditorium. That doc pi t meifl some young lunchmay be jarred by a bas ketball winding up in his bean soup. t ThCfym isn't in business dur ing lunch time. Neither is the auditorium part, which includes a small stage where the pupils (ah gather to cut loose with carols or a class play. Cg) the terious side, this sor of school may be an answer to some of the school problems Er.cted in 12 Weeks It is to be Called the Mother Srton Elementary School, a ;66.000 completely funjished plant built for the Sisters of CharSy of St. Joseph College. The first such schocjl. built at Clary, Ind., has six classrooms. -This oi -jt here has 12, and was erectedcin 12 weeks. The5 schools are built by the S r to Schools Torp . of Bos ton, ftith help from U.S. Steel and companies. It has a lot of unique picture windows. The blackboards are green, and if the idea catches on there w ilVb no more dusting of erasers. A wcl rag wil do the (P'n8 4'5 an erasers are out. When I was a kid in P S. No. 1 (the only one aboard at the time) dusting of erasers took up a good bit of the late afternoon marble session. That was pen ance,' of which I did what I al ways thought was more than my share. The walls inside are painted with lifetime stuff that requires no re-doing, according to the planners. That cuts down on maintenance. One janitor can run a broom across the 12 classrooms and the "cafetorium" in no time at all. Many Advantages Another innovation is the use of steel which means that strong buildings can be built in less space, leaving more elbow room for the kids. That may solve one problem, which is overcrowding. The building is said to withstand . hurricanes, earthquakes and the bitter bite of winter. This particular building will ' be open for business Jan. 2. ! It took a bit ofdoing but the good sisters made a great efiort, and when the school opens it ; will be paid for cash on the desk top. I The sisters may have one little problem. A number of the class rooms i face the highway, beyond which i is the irresistable view of the humps of the lovely mountains. 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