Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 10, 1963)
MEDFORD MAUL TRIBUNE, MEDFORD. OREGON MONDAY. JUNE 10. 11(3 Your Money's Worth By SYLVIA PORTER Copyright. Hill Syndicate, Inc. MO UD ON DEBT COST There are thousands of items in the record 1964 Federal budget on which Congress can slap a spending lid, if It so desires, and thereby limit the size of the budget for the year starting July 1. There is one spending item, though which it cannot touch, and which is certain to surge relentlessly Upward to the highest peaks ever In the fiscal year ahead. That item is interest on the national debt. Interest the Treasury must pay on our national debt will wallow way over $10 billion of our taxes this coming year. Interest will be second only to national defense as the largest single item in the budget, and of every $1 to be spent in fiscal 1964, interest will take 10 cents. There is nothing Congress can do to prevent this for two hard reasons. First, our total national debt is rising to all-time peaks. The precise size of the budget in fiscal 1964 will be de termined by the strength of the economy and what Congress does about taxes, but that there will be a deficit is certain: The national debt is already pushing through S305 billion, will rise by many more billions in the months ahead. Ob viously, a bigger debt means more interest must be paid on that debt. Second, it will cost the Treasury more to borrow new money and to replace maturing I. O. U.s because interest rates are rising. Right now, the Treasury is paying 3 per cent to borrow money for only 90 days, more than 4 per cent to borrow funds for long-term periods. A vital point hare is thai the Treasury and Federal Reierve System today are deliberately trying to prop interest rates to levels high enough to encourage foreign holders of dollar claims against us to keep their funds invested in ihort-term U. S. securities and to discourage them from turning their dollar claims into gold or transferring the funds to other money centers where interest rates might be more altarcttoe. The level of interest rates has become a key weapon in our fight to prevent a run on our gold reserve and to preserve the value of the U. S. dollar. Who will put up the S10 billion - plus that the Treasury must pay out as interest on the national debt in the next 12 months? You and I will put it up via the taxes we pay on our pay checks and profits. All taxpayers will help carry the debt load. Who will get the $10 billion-plus of interest? . Those who buy and hold U. S. Government securities -ranging from the giant institutions owning hundreds of mil lions of dollars' worth of government I.O.U.s to the little investor owning U. S. savings bonds. How big a burden is this $10-billion-plus of interest on us? The answer here depends on how you measure it. If you view it simply as a statistic all by itself, the in terest burden has ballooned to huge proportions. As recent ly as 1946 the annual interest cost on our national debt was $5.3 billion. In less than 10 years, the interest burden has just about doubled. The rise has been due not so much to the increase in the total debt as it has been due to the upswing in interest rates which began under the Truman administra tion, continued under the Eisenhower administration and is still persisting under the Kennedy administration. Measured in other ways, though, the burden can be con sidered lighter than in 1946. For instance, if you view it gainst our total output of goods and services (Gross Nation al Product), the interest increase actually "shrinks." The ratio of interest changes on the debt to GNP was 2.2 per cent in 1946, is down to around 1.7 per cent now. As a much bigger nation than in 1946, we can afford to carry a larger debt load. Or if you measure it in terms of the extent to which the payments redistribute income undesirably, the interest load also appears much less disturbing. . There is no evidence whatsoever that the interest the federal government pays to owners of its securities has significantly affected the distribution of income among various groups. . But none of these reassuring measurements can hide these facts: More then $10 billion of our taxes will be going Just for interest on the national debt in fiscal 1964. These payments alone will swell the federal budget. In less than 10 years the interest load has doubled and there is nothing Congress can now do to stop the uptrend. Dennis the Menace j WIVW NEVER TOW ttBffitO IBM A AW9MU0WI Small Worlds Around Us By LYNN M. WATKINS (Register and Tribune Syndicate, Stung By a Bee? Chances Are It Was Your Own Fault If you are stung by a bee the chances are it was your own fault, either directly or indirectly, for the bee only stings when it is angry or unduly excited. The bee is normally too busy minding its own business to bother with you. In rare cases, someone else may have angered the insect and you are stung merely be cause you were an innocent bystander tfcat happened to No Collapse Seen In Steel Marketing : Cleveland, Ohio - (UPD -Settlement of steel labor ne gotiations will trigger some order adjustments, but it won't precipitate a market collapse. Steel Magazine pre dicted today. The national weekly based Its prediction on the follow ing two reasons: 1. Users haven't gone over board on inventory building. Since the first of the year, they've increased stocks by no more than 2.5 million tons while their buildup prior to last years agreement was nearly twice that size. 2. They're consuming steel t a near record rate - about 6.7 million tons per month.' Keeping consumption at a high pitch is the automotive demand which is second only to that of 1955. Requirements of other industries - construc tion, appliance manufactur ing, machinery, farm equip ment, freight car building, and canmaking - also 'arc booming. BATTLE CASUALTIES Culpepcr. Va. - IUPI -Three persons wearing Con federate uniforms were injur ed Sunday when a Civil War cannon misfired during cere monies marking the centen riial of the Battle of Brandy Station House Leaders Slate Busy Week Washington - (UPD - House leaders have scheduled a rel atively busy week, with three sizeable measures up for Ae- bate. An appropriations measure which carried $140 million for the operations of Congress (except for the Senate itself), the Library of Congress, the Government Printing Office and the U.S. Capitol in the year starting July 1 will be considered Tuesday. On Wednesday the House will take up a proposed $456 million increase in the appro priations ceiling for the two year, old Area Redevelopment administration. Thursday the House was to take up extension for one year of corporate income and excise tax rates which would otherwise drop or expire at the end of this month. hv-'ti I WORDS (hat COMFORT Arise, shine: for thy light is come, and the glory of the Lord is risen upon thee. . ISAIAH SOU PERL FUNERAL HOME) rrsRNFR SIXTH AND OAKDALE Spacious Parking Lot 1 U c promptly rr md to oil calls, Jjv or Mfht, AM ITT - f 1 Young Woman Dies In Fall Over Cliff Lyle, Wash. 0IPD Mrs. Margaret West, 19, of Hills boro, Ore., fell over a 100 foot embankment into the tur bulent Big Klickitat river Sunday and presumably drowned. Search for her body re sumed today after fishermen with boats and nets failed to recover it Sunday. Deputy George Durant said mor than 200 cars converged on the scene two mile north of here Durant said Mrs. West was walking along the top of the embankment with her hus' band. Earl, 20. She lost her footing in the soft shale and fell over the nearly vertical cliff. The river is narrow and full of whirlpools in the area. Disabfed Veterans Schedule Convention Bend - (ITt - The three-day Oregon Disabled American Veterans convention will be gin here Thursday. More than 200 persons are expected to attend. Honolulu - UPD - Among 100.000 Hawaiians cheering President Kennedy Sunday was one who took note of his Boston accent by waving his sign "Aloher. Jack. be standing too close. The bee, in a fit of anger, makes no distinction between the real enemy or the innocent spectator. Then, too, the driver of an automobile Is in a precarious position when a bee enters his car. Usually the bee is angry; it is confused, and as mad as hornet. The driver, afraid of being stung, waves his arms or attempts to hit the insect, which adds to the bee's anger. The man may lose con trol of the car and end up in the ditch. Here again it is partly the driver's fault; he lost his head, he's as angry as the bee and as such lacks good Judgment. The proper procedure would be to pull of the road, wait a few minutes until the bee calms down; then, moving slowly and with purposeful deliberation, usher the insect out the vindow. Any arm waving or quick movements alarms the bee; it is already raving mad and added in dignities only add to its wrath. It' only takes a few minutes to be sure rather than sorry. - 1 . Regardless of what you may have read or heard about the behavior of bees, there's one fact about which you can be definitely sure: there is no such thing as a tame bee. Neither is there a bee that recognizes one man as a friend or another as an enemy. The man who handles bees without being stung is the man that moves slowly, with never a sudden movement or quick jerk. Too, he recog nizes an angry bee, and at such times leaves the bee alone. He isn't foolish enough to think the bees know him; he merely applies the princi ple of patience, kindness and a basic knowledge of his Charges. If the insects are already angry when he attempts to work with them', and he doesn't want to wait until they quiet down, he may re sort to smoke, which tends to soothe and quiet the insects. The experienced bee-man may sometimes be stung, but if he is, it is usually his own fault. Somewhere along the routine path he made a mis take. Of course there are some strains of bees that are rela tively slower to anger than others, some that are better adjusted or normally calmer, just as some people become angry it the slightest provo cation while others are even- tempered and become angry only if unduly irritated. The angry man strikes back; he attempts to defend himself regardless of the odds against him. In a fit of anger he loses his head, and may attack another, when good sense would indicate a mo ment of calm discretion. So it is, to some extent, with i the bee; driven to despera tion, or angered beyond con trol, the insect attempts to defend itself by any moans within its capabilities. And who can honestly blame it.' FREE TO EVERYONE . . . OUR ML UEVJ DOESNT COST A PENNY TO PARTICIPATE I St M U t IT J D V t) V b cr r an tn ct tTi fip ffi j t n fj t !! X "I- 3 no raeousi tiovnti rot mi nmmn at mi un VOID If IS TMMMII WITH Mutt h mpmmt by AuHiariu ttera PuiuM THIS CAM MAT U W0ITH UP TO $5,000.00 CAW ill ItVttSf ilDI tOt COMFUTt INttlUCTIOMI Prsa Punch SMtlwi U ti? J uf iy u- yj w jy f -P J i !) i-d (J- tp t) cp r d) & CD To - v vti g a u m. 252525232525l2525232323l25252325252525 30l30303030303030l50l3030i303030303030l30 SUPERMARKET SWEEPSTAKES Oregon FOOD STORES Pit. r. IWJ ImM SmmmWi. It.. 7I0 SaUv rlu. Data. Tua THie tou er nmnum i 1 Semeta avIKariaae punch shewn In iii$il$i$ii$il$i$iHM$il$i$i$ii$il$U$i$i $i i Absolutely no purchase required to obtain your free card or punch out your free punches. CAUTION! Please do not tamper with the sewed flap. To be valid, flap must be opened by an authorized store employee. Jfl3 CTpaJ kEDS3 Ill 0SD MEMBER BY INVITATION Whr $vbr d (The (Do lb cn &ult I sTta isrfiTMffffl'friifi'iTi iT'-iri -rf -tr' "' , , Robertson School of Business 40 No. Riverside 773-4264 classes begin July 8 or Sept. 30 AWAITS .mei It (Jaw aW So you graduate in June! Whit then? Did you know that cvr 1,000,000 young rren nd women cannot get employment? The Secretin o Ubor till it an "emerg. fxy cis!s " 'or the young. The "educetionjtly handi capped" ere hardest hit. If ou hive sn ability which em ployers want, you will avoid the problem. A k iwiitt you if you become a Secretary, Account ant, Stenographer, or Junior Executive. Training takes 2 years Of le. ' Write new foe full Inform, tion. Don't Kn the (oble in June and don't utile for a ob with no future. MEL! .ORINE arden's-aii rw. vio.1. 39c EGGS AA lARGE-Strtctly Fresh Doi. 39 C F LeaO U R HACIENDA, Bleached, All Purpose 10 lbs. PICKLED BEETS TAiTEwtu-3oj Tin 699c COFFEE KORY-Satltf action Guaranteed lb. 39C PEjS DEl MONTE EARLY OARDEN-303 6 tor GREEN BEANS osevmley-c, 303 10c FISH STICfCS'c'LANB'c--"- n - 3 fr 99c ORANGE JUICE T,n.39c DOG FOOD delight Tin T.n. 18 99c CN r.lC-1. ' I - it r i 3S Qt. . Heavy Duty Plastic Waste Baskets ea. ' Yrtckor Picnic Baskets With Foldlno lop $5 Value - ' Daisy - , INWHffl LaiYfl Ormnent 99 ea. Randy's ) Oregon Food stores Country Style Lean Short Ribs Beef or Veal Famous Lean Pork Sausage 29c lb Steaks Ground Beef our Own M ... n ( Boiling Beef 8hrf? gibs-ii gh.;98 19 v WESTGATE BAKERY Jelly Donuts Crispies Coconut Rolls Cucumbers .. :5 : 6 25' Onions ww,. o .. w 2 for 5 Mi New Pototoes no. . wwi CifWj Sit1 Dfnlc r MEDFORD-Westgate Center I 1 i-vl ' MEDFORD-1 3th and Central (I JlfL yMkyaiASHLAND-Gateway Shop. Center I l yJs2 Iff f fl rV Wl Riere The Right Te limit I "y fyC I! I 4 ftitn 'H,,,, Wedneae'ay,- June 12 ' Prices Effective Through Wednesday o We Reserve . The Right To Limit Quantities eafrtesettir-s
