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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 20, 1960)
Highway Revenues Total $3,062,357 Salem-HIPtt-Oreenn received $3,062,357 in high way revenues trom the state in the thrra.mnnh n...;n.i ending Sept. 30, Secretary of aiaue nuweu Appling Jr. said Wednesday. Multnomah county, with ' 258,290 registered vehicles, received $874,593. Ltne county, with 80,517 vehicles, again took the sec ond biggest share, $272,637. Marion county was third with 58,797 and $199,092, Wheeler county got the smallest apportionment, $4, 852. Its vehicle registrations were 1,433. New Wall Covering Said to Heal Self Chicago A new vinyl-on-cork wall covering "heals it self" after repeated punctures. It was designed by the Cork Tex company to meet home decorating and maintenance problems, particularly in the den, family room or child's room. One-half million square feet of the material already has been tested on classroom walls of several schools. It can take thumbtacks, nails, picture hooks even a knife stab and show no trace of the puncture after the instru ment has been removed. . Medford Tribune SECTION B MEDFORD, OREGON, THURSDAY, OCTOBER 20, 1960 PAGES 1 to 8 New Global Banking Concept Gives Independent Feeling Washington -0JPD- Thunder ing oratory in the United Na tions all but obscured an his toric event recently. This was when the new International Develop m e n t association launched a new concept in global banking - a concept in which an under developed nation can be help ed without the taint of char ity; in which an aid recipient can become an aid provider. The event, which may lead to more long-range benefits than all the shouting in the U.N., grew from an idea con ceived by Sen. A. S. (Mike) Monroney (D-Okla.) four years ago. At that time Monroney was in Bangkok, Thailand, attend ing an International Parlia mentary Union conference. He was struck by two things. First was how proud the Thais were of a dam they en gineered and built themselves, with their own money ana with funds borrowed from V: N W SATURDAY Don't Miss GOVERNOR MARK HATFIELD and local Republican Candidates OLD FASHIONED POLITICAL RALLY Torchlights, Old Cars, a Band . . . Lots of Fun! 6:30 P.M. Saturday, Oct. 22 in Front of the Courthouse' in Medford Come, meet and hear your can didates! Free refreshments (cot fee, hot dogs, cookies, soft drinks) and musical entertain ment! (Sponsored by Jackson County Young Republicans Club.) the World Bank at commercial rates. Indifference Noted The second was now indif ferent, and maybe even a lit tle belligerent and chagrined, they were about a new multi million dollar highway built with U.S. military aid funds. Monroney for the first time got a close-up of how people in underdeveloped areas react SEN. MIKE MONRONEY Got Banking Idea to aid on a charity basis. As a result, he initially pro posed enlarging the scope of the World Bank so if could make more money readily available for worthy projects which might not "pay out" as rapidly as required for norm al World Bank loans. In July, 1958, he submitted a resolution to the Senate calling for a study of a de velopment association which could make loans for a longer period at lower interest rates, and with both hard and soft currencies. From that resolution, the IDA developed and was sup ported by 14 countries. West Germany became the 15th re cently and the development fund automatically reached the $60 million required by its $1 billion charter to start operations. Subscribe To Shares Under the charter, 17 indus trial countries subscribe to shares with 100 per cent hard money. Ffity-one underdevel oped nations are permitted to subscribe with only 10 per cent of their shares in hard mmm mmm mm You can't buy a better sugar than Spreckels Sugar! 2 It's worth free groceries for you! jl It's a sweet deal all around when you shop your grocer's for Spreckels Sugar. For one thing, you're buying quality when you buy Spreckels Sugar. And, if a SPRECKELS SUGAR QUIZ MAN is in the store, your Spreckels Sugar purchase can be worth free groceries! So make sure Spreckels Sugar Is in your shopping basket Look for the man wear ing a red, white and blue Spreckels Sugar Quiz Man Button. (There are many Spreckels Sugar Quiz Men and one could be in any market.) Identify him, answer correctly a question he asks, and he'll pay for all the Spreckels Sugar you've bought. Answer a second question correctly and he'll give you a $5.0Q grocery order! ' O money - the rest in their own soft currency. These soft-currency nations now can borrow from the fund for capital projects which people can see and feel immediately - housing, roads, communications projects, and waterworks. The pay - out period for loans on these types of projects is usually too long and the interest rate too low for commercial institutions. Monroney saw that one of the basic problems in inter national financing of such low-risk projects was to get soft currency into internation al use. IDA is designed to do just that. Under its charter, if Burma, for example, applied for a loan to buy road build ing machinery, IDA might lend it Japanese soft currency. Burma could then buy the machinery with the soft cur rency Japan subscribed. In explaining the need for such an arrangement among newly independent and under developed lands, Monroney said: "New independence is inde pendence of the most hyper sensitive variety. Acceptance of unilateral foreign aid has been represented by extrem ists political groups within the underdeveloped countries as implying a political commit ment to support every posi tion taken by the United States in its cold war with the Soviet Union. Often Taken as Betrayal "Such representations are false, but in the midst of mis leading propaganda, these commitments are often taken as a betrayal of the aspir ations of independence of ac tion . . . thus, that which is an economic necessity has be come a political liability. "The other side of the same coin has been equally diffi c u 1 1. Unfriendly countries charge that our aid imposes an unacceptable obligation on the recipient, but on the other hand, the recipients tend to assume that the obligation is on the giver - that political support in the cold war en titles . them as a matter of vested right to share in the bounty of our foreign aid pro gram. "The whole relationship militates against the easy friendship of sovereign states. " ' Monroney's answer: A bank that would let them borrow among themselves, with U.S. cooperation and help. Monroney was in Tokyo at tending another international conference when the IDA set up shop. Fulbright Report On Nixon Regret Declared Smear Wilmington, Del. - ttlPD - A spokesman for Vice President Richard M. Nixon Wednesday branded as a smear a report by Sen. J. William Fulbright that Nixon "indicated his re gret" to Soviet Premier Ni kita Khrushchev over the captive nations resolution in 1959. Fulbright said Tuesday he had been informed that the Republican presidential candi date did so with respect to the timing of the resolution passed by Congress just be fore Nixon's visit to Russia last year. This is obviously a cam paign smear," Nixon s press secretary, Herbert K. Klein, said. At More Rapid Pace Nixon has been assailing his Democratic opponent, Sen. John F. Kennedy, for having suggested President E i s e n- hower might have expressed regret to Khrushchev over the U2 spy-plane incident if such action could have prevented the summit blow-up. "The disturbing thing about these Democratic smears," Klein said, "is that they are coming at more rapid pace as the campaign progresses." Klein said the newsmen who accompanied Nixon to Moscow, "reported with great accuracy that he (Nixon) had stood up to Khrushchev and argued American policy ar ticulately and effectively." Walking Man Sad At Being Different San Diego, Calif.-'Tve be come such an oddity," said Dr. Orrin E. Klapp, sociology professor at San Diego State College, "that children call rnt thp u:alkine man." He w?.ks the two from his home to the college each day instead riding In! his automobile. KW' feels that "it is sad in a way" that this should make him seem different. With Purchase of any of these Kenmore Auto. 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