Consumer Price Level Must Be Kept Stable for Policy Success
. ' - i m n,uit fA i x i .1 i i j t i
Editor! note: Economic
adTisors to President Eisen
hower are convinced he
must take a no-holds-barred
stand against inflation. A
United Press International
reporter, in interviews with
highly placed advisors, re
ports the current Adminis
danger of unchecked infla-'
tion.
By EDWARD COWAN
United Press International
Washington (UPD The men
who most influence the ad
ministration's economic poli
cies are convinced it must
take a no -quarter stand
against inflation.
They believe the only poli
cy that can succeed in the
long run is one which seeks
to keep the consumer price
level stable. They contend a
policy of allowing even mod
est or creeping inflation
perhaps only 2 or 3 per cent
a year cannot succeed. Per
mitted to creep, inflation is
likely to run or even gallop,
they say.
Can a government in a free
enterprise society in which
wages and prices are not con
trolled keep the price level
constant without stunting eco
nomic growth?
The President's key eco
nomic aides, conservative by
nature, are reluctant to go
out on a limb and say "yes."
They are equally reluctant to
say "no," even in private con
versations, for that would be
conceding defeat.
As one White House ad
viser put it, they are "fervent
ly hopeful."
Only Wednesday the Presi
dent told his news conference
he has ruled out wage or
price controls for the fore
seeable future.
That leaves the administra
tion with three major weap
ons with which to fight pos
sible future inflation:
Appeals to business and
labor to refrain from undue
price boosts and wage de
mands. Economy in government
with elimination of all but es
sential spending.
Control or the money
supply and interest rates.
Blame Wage Hikes
The President has appealed
to, business and labor several
times in the last year, most
strongly at his Aug. 6 press
conference. Then he directed
his remarks" mainly at labor
unions. He warned them
wage boosts that exceeded
improvements in productivity
could only be inflationary and
that in the long run the extra
dollars in pay envelopes
would not buy more goods.
There is a strong feeling
among the President's ad
visers that excessive wage
hikes have been the major
2nd SECTION JA T T Pages 1 ' 8
MedfordTribune
MAIL TRIBUNE, Medford, Oregon, Thursday, August 21, 1958
inflationary force since the
Korean war. The unions deny
it, contending business has
been profit-greedy. The latest
government report shows con
sumer prices are nearly 24
per cent higher than in
1947-49.
With direct controls ruled
out in the President's state
ment Wednesday, many ob
servers feel the government
will have to ' rely most on
credit tightening in its fight
to preserve the value of the
dollar.
, Saturday and Sunday are
generally accepted as the two
most dangerous days to drive
in modern traffic.
Only Male Contestant
Doesn't Have Chance
In Baking Contest
Knoxville, Tenn. UPB
As the only male contest
ant in a 4-H Club baking
contest, John Mullins didn't
have a chance, really.
He whipped up a batch
of biscuits, put them in the
oven and stood by to wait.
A young lady contestant
sidled up and engaged John
in conversation. He joined
in politely.
Finally the girl moved
on, and John, remembering,
made a dash for the oven.
His biscuits were burned
to cinders.
CHICO TO WED ACTRESS
Hollywood (DM) Chico
Marx, 67, oldest of the Marx
Brothers, and actress Mary
DiVithas plan to be married
Friday at a friend's home.
Buy
At
Builders Supply
ESS
QUALITY
BLOCKS
Bricks, Flues,
Drain Tile
717
W. McAndrews
Ph. SP 2-4107
we 6ive
O Fife EN
STAMPS.
on Grocery Purchases 2330 Crater Lake Ave.-Phone SP 2-8188 Sr
(NO GREEN STAMPS ON MEATS) M W ew m v r w-ew mmm w-ww
r- r 3 WE GIVE .
GREEN1
t
Store Hours: Week Day, 8:30-9:00.
Sundays, 10:00-7:00. We reserve the right
to limit quantities.'
ri D C tr vi i
STAMPS
These prices are effective
Thursday Eve, Friday and
Saturday Aug. 21-22-23
Be sure to come out and register for, the fine sf prjze$50 U.S. SAVINGS BOND :
prizes to be given away August 30th, AB- - -
solutely free! You do not have to buy 2nd Prize50 pCi Se, SAVOY-Stainless Steel Dinnerware
to win.
3rd Prize $25 U.S. SAVINGS BOND
i
4th Prize PORTABLE BARBECUE GRILL
Local Grown Red Ripe Fruit!
h ( niP-i 1
All
Extra
Fancy
No. 1
Slicers
II lli IDAHO
m , , S N m Wk russets .
III Local J r i f r ' (jf vssk Goodskinset (())
I Sweet Jry 1 Z' ' : Bag
Del Monte
46 oz. Can
PINEAPPLE JUKE
PINEAPPLE-GRAPEFRUIT JUICE X
APPLE JUKE Hi Country 46 oz. Can
PEARS - Bagley , to
PINEAPPLE - Hillsdale
Sliced, No. I Can
PEAS -Parly Time Early June, 303 Can
PRUNE JUKE Del Monte, Quarts
GRAPEFRUIT SECTIONS Del Monte, 303 Can ...
4
4
4
4
NAPK
NS
Assorted Colors
FULL 80 COUNT
m
IUJ OFF
O ATTENTION MOTHERS & KIDS O 7
Stock up this week on Paper, Pens, Binders,
Pencils, Note Books, Erasers Everything!
ON ALL SCHOOL SUPPLIES!
OFF
if
SUNSHINE
hoc
ROAST
. All Lean Boneless
0 Stew Meat
ib.
Barbecuewith Tenderizer
Ib.
All Bone and Fat Removed Ib.
ROLLED ROAST 7w 0 Swiss Steaks
Center O-Bone Cuts
Ib.
1
1 1 i
mm
Cut-up, Ready to Cook
Fresh, Oregon
Grown
41c
hot
DO
Old-fashioned Flavor
Hearts & Tongues
FRESH BEEF
Ib.
Young, Lean Beef
T
&7r
U Ib.
Delicious
SPARE
RIBS
Full Sides from
Midwest Corn Fed Porkers!
SAVE ON OUR HOME FREEZER DEALS!
Cut, Double Wrapped - Pick Them Up Anytime!
25
Freezer
Deal
lb.
oo
2
Freezer
. Deal
lb.
18
00
5-LB. T-BONES
10-LB. ROUND STEAK & RUMP ROAST
5-LB. SIRLOIN
5-LB. GROUND ROUND .
Grade A -Thick Sliced
BACON
SKINLESS .
WIENERS
5-LB. RIB AND CLUB STEAK
10-LB. BEEF ROAST & SWISS STEAK
5-LB. GROUND CHUCK
5-LB. RIB STEW
FED BEEF ONLY
Buy One Each, Save
Krispy Crackers
3-lb. Tin
0 lbs.
195
LP.
Box