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.'
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FOOD STORES
Pit. r. IWJ ImM SmmmWi. It.. 7I0 SaUv rlu. Data. Tua
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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