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.
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