Recession Said Only Temporary
Dip in Overall Economy Growth
Editnr's note: Arthur O. ritz
president of CIT Financial Corp.,
is today'i guest contributor to
Elmer C. WaJzer's "Financial
Gossip" column, while Walzer is
on vacation.
By ARTHUR O. DIETZ
President.
CIT Financial Corp.
Written for United Press
New York HP! There is
no use denying the fact that
our economy has been ex
periencing a recession not
a critical one, but still a re
cession. But we should not be
blinded to the fact that the
current recession is only a
temporary dip in the long
range growth of the economy.
In a free economy such as
ours it is inevitable that there
will be some periods of lower
levels of business activity.
But eventually the forces of
consumption reassert them
selves and we again start an
upswing in the cycle. If we
had complete stability we
could have no growth in a
free economic system.
How can we be confident
that this recession will soon
give way to further economic
growth? Actually we should
ask, how can it be denied?
The Bright Future
Within 10 years our popu
lation will total 200 million,
compared with today's 171
million. The gross national
product will aggregate S600
billion, compared with to
day's S436 billion. Disposable
personal income will total
S400 billion, compared with
S303 billion now. There will
be 132 million people of driv
ing age compared with 114
million now. They will be op
erating 90 million motor ve
hicles, compared with today's
67 million. One family in
every five will own more
than one car, compared with
one in eight now. We will
have 50,000 miles of super
highways, compared with the
present 10,000.
Past growth of the U. S.
economy has been almost
startling, but its periods of
fastest expansion lie ahead
For one thing, recent growth
has come during a period of
relatively few new - family
formations, a reflection of the
low birth rate of the 1930 s
In the years immediately
ahead, a virtual tide of new
consumers, the millions born
in the, years since the mid
1940s, will mature, marry,
Yovr new cor h
a gn of prosperity.
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and demand housing, furni
ture, clothing, durable goods,
schools, utilities and the oth
er things that go into the way
of life they expect. These will
be young people who have
never known anything but
plenty.
Future Demands
The demands of these mil
lions of new families will
spark tremendous increases
in the production and distri
bution of consumer goods and
will push construction to rec
ord level.
I am confident that the best
days of our lives lie in the de
cade ahead. Meanwhile, as we
experience one of the -rare
"downs" in the ups and
downs of our free economy,
we must not abdicate our in
dividual responsibilities as
we look to others to do things
to increase consumer spend
ing. Temporary adjustments
are unavoidable but the U.S.
consumer will always respond
to the right products, the
right facilities.
In every recession, there
are always companies that
progress against the tide, that
report higher earnings and
larger sales even though in
dustrial averages are down
and the business of their com
petitors is declining. They il
lustrate" the ability of the
good businessman to meet the
challenge of the times and to
find ways against odds to get
people to buy more of the
products he is selling.
The Family Council
Editor's note: The Family Council consists of a Judge, a. psychiatrist,
three clergymen, a newspaper editor, a women's editor and two writers.
Each article is a summary ot an actual report. The Family Council does
not five advice; it merely reports on problems that have been dealt
with by responsible agencies and counselor.
Jenny M. I'll never tell
Mother things again.
Mrs. L. M. If it concerned
my child, I'd want to be told.
Jenny M. My mother
and I are having an awful
feud and we want to know
who is right.
I am 15 years old and I go
out with a very nice crowd
of boys and girls. We aren't
snobbish, but we're fussy
about who comes into our
group. Well, my mother want
ed me to invite this girl, San
dra, in on some of our doings.
I told her my crowd wouldn't
have anything to do with San
dra because she has a very
bad reputation for going too
far with boys.
Well, who would ever think
that my mother would go and
tell Sandra's mother? In re
taliation, Sandra told a lot of
things about us that just are
not so. I told my mother I will
never tell her things again be
cause she doesn't know how
Same Admissions
Policy Urged at
All State Schools
Portland OP) Ore
gon and Oregon State have
been advised to work out an
admissions policy for out-of-state
students so that "a stu
dent admissible to one would
also be automatically admis
sible to the other."
The recommendation came
in a committee report from
Earl M. Pallett, secretary of
the State Board of Higher Ed
ucation. It resulted in an exchange
between presidents of the
two schools at a board meet
ing this week.
Charges Made
The report came after
charges were made that out-
of-state athletes whose records
have been turned down by
Oregon were admitted to Ore
gon State.
Dr. O. Meredith Wilson,
Oregon president, termed the
recommendation "a consum
mation devoutly to be
wished."
Dr. A. L. Strand, Oregon
State prsident, asked why it
was that Oregon State had
only about 19 special students
on its rolls and the University
about 200.
Dr. Wilson said the Univer
sity cannot be charged with
using the special student cat
egory to admit athletes.
He said of the 225 special
ARRIVING in Port of Spain,
Trinidad, Princess Margaret
will officiate at birth of West
Indies Federation, newest
member of British Common
wealth. (International)
students this year, 181 are
registered at Northwest Chris
tian College where they do
theological work, and that 31
were foreign students who ar
rived with less than typical
transcripts. He added that 35
had been admitted to Oregon
State with what the Univer
sity termed "glaring deficien
cies" and "one of them will
play against us next fall."
Dr. Strand said, "In years
gone by this has worked the
other way."
Dr. Wilson said, "I would
rather not have commented
on this, but it seems it will
appear in the press again un
less something is agreed upon
between the schools.
The committee report show
ed some differences in the
general admissions policies on
out-of-state students, mostly
of procedural nature.
About three-eighths of Mon
tana's land is owned by the
federal government.
1 k 3-FIY
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THAT'S RIGHT. Only 1 patient out of 3 is a subscriber.
The other two must pay.
Any resident living within 150 miles of Medford, Ore
gon, can and should be a subscriber to Mercy Flights. At
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earner can afford air ambulance service for his family.
Accidents don't just happen to "someone else." The most
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If the time ever arises when your family Is saying this,
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lor FREE
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Box 522
Medford, Oregon
Published as a public service by the Medford Mail Tribune
to keep a secret. My whole
crowd is angry with me be
cause the things Sandra has
been saying have been getting
around.
Mrs. L. M. I am not a
woman who goes in for gos
sip of any sort, but when it
comes to these kids it's differ
ent. Wouldn't I want some
body to tell me if things like
that were happening with my
daughter? It's a fact that par
ents are often the last ones
to know when something ser
ious is going on with their
children.
Sandra's mother had often
told me she can't understand
why her daughter does not go
around with this very nice
crowd of Jenny's. I knew she
was worried about her daugh
ter. Probably she suspected
the truth, but couldn't know
for sure.
Of course, now Sandra's
mother is sore at me and
claims to believe' her own
daughter, but that's what you
get for trying to do good. At
least I can feel that I've ful
filled my responsibility. San
dra's mother can take it from
there.
The Council : We are 100
per cent on Jenny's side. This
story should never have been
repeated.
Mrs. L. M.'s only "responsi
bility" is toward her own
daughter. It is not her duty
to report hearsay to other par
ents. Part of Mrs. L. M.'s re
sponsibility toward her
daughter involves knowing
how to keep a secret. If Jen
ny knows she can trust her
mother, the channels of com
munication between them will
always be open. Mrs. L. M.'s
action may have closed a very
vital link with her daughter.
When a relationship of trust
and understanding evists be
tween parent and child, it is
not necessary for the parent
to rely on untrustworthy re
ports from the outside. If this
relationship is. gone, the par
ent has little control over an
older child. Sandra's mother
is acting wisely when she
chooses to stand by her daugh
ter and reject the gossip about
her. Any uncertainty she may
feel in her own heart is best
kept in those inner recesses.
Mrs. L. M. doesn't seem
even to entertain the possibili
ty that Sandra's stories about
Jenny's crowd could be true.
We aren't suggesting that she
think differently, but we want
to call her attention to the
fact that we are all prone to
believe what we want to be
lieve and seldom seek proof.
Gossip is gossip even "when
it comes to kids."
(Copyright 1958.
General Features Corp.).
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Derive deepest pleasure
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NAME, ADDRESS, PAT
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MAIL TRIBUNE, Medford, Oregon, Wednesday, April 23. 1958 3A
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