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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 1, 1963)
In the Day's News By FRANK JENKINS tained on one or another of the petitions. It seems rather probable mat mat will happen. WHAT to do about It? Well thprp's Hamlsl Iho MEDFORD MAIL TRIBUNE. MEDFOBD, OREGON MONDAY. JULY 1, 1963 In Salem the other morn ing, J. Francyl Howard of Al bany appeared In the Sec retary of State's office to file a preliminary petition to re fer the 1963 legislature's tax measure to a vote of the peo ple. Mr. Howard is president of an organization known as the Citizen's Committee for tconomy and Equitable Taxa tion.;,; (; - . , . . Attorney General Thorn, ton says he will assien a ti. tie for the referral measure well within the time limit. meanwnue, mere are in dications that another group plans to file a second Deli- tion to refer the tax increase bill. None but Howard's peti tion, however, had been filed with the secretary of state as ims is written. GO- : J It looks like a refercri. oum measure of some sort will be put before the public. It's up to the voters, there fore, to be doing some think Ing as to how they will vote on It in the event that 23,. 186 valid signatures are ob- Your Money's Worth 1 By SYLVIA PORTER Copyright, Hall Syndicate. Inc. tragedies. He was confronted with quite a problem when JULY CLEARANCE IN EVERY DEPARTMENT! BOOKS STATIONERY CHINA CRYSTAL LAMPS PICTURES Melanchnlv Hnnn hern nf thA most famous of Shakespeare's GHIMMEST U.S. ECONOMIC PROBLEM-PAYMENTS GAP linn is in iirsi in series es cuiumnij Around the middle of August, the U.S. Government will he discovered that Claudius have to publish a bleak report which will dramatize to the his uncle, and Gertrude his entire world the grimmest economic problem facing our mother, had been responsible country today. for the death of his royal fa- This report will disclose that in the first half of 1963 we ther. . continued to sDend hillinns more abroad than the rest of in nis famous soliloquy, he the world snent here and the red Ink in our international said to himself: accounts so far this vpar is much worse than it was in the same neriod of 1962. Because of the persistent deficits we uu uk noi to do, that are running year after year in our balance of payments i. A is the question: foreign creditors are still building up enormous dollar claims "Whether it is nobler in the against the U.S. which thev can convert into our cold any mind to suffer time thev wish. The deficits in 1962 and 1961 were lower The slings and arrows of than in 1960. but despite all our efforts to null our ac- outrageous tortune. counts nto balance, this year we have fallen back. There 'Or to take arms against l is no way whatsoever to avoid an additional drain on our a sea of troubles, cold Tcserve, already below $16 billion, the lowest level Ana Dy opposing end nee 1939 t"6"!. . The ahilitv nt tho IT S In maintain flip stahllitv and in- tAifpilu nf (ha ftrtllai i n V.Aintt pnnutantlu nnnclinnwl ne HAMLET, you will remem- result of these trends and the August report could heighten ber. Went On tO ask him- I .ilarm oi-n..ri0 rrtrnirtn VinlHnra tf rinllnra nnri Hnllnr nhll ixntlnt.! sen wneiner u is ociier to endure those ills we have than fly to others that we know not of." He continued "Thus conscience does make cowards of us all; And thus the native hue of resolution "Is sicklied o'er with the pale cast of thought. And enterprises of great pith and moment "With this regard their cur rents turn awe And lose the name of ac tion. UE CAN ask IT along There it not on word of exaggeration here. There Isn't one informed individual in government-and this def initely includes President Kennedy or out of government who doesn't admit the seriouaneis of the situation. In fi nancial capitals around the free world, the concern it equally deep, for the U.S. is banker to the free world, our dollar is the pivot around which the free world's cur rencies revolve. This is a story from which you cannot hide. In the first quarter of 1963, the deficit in our balance of payments ran at an annual rate of $3.2 billion, against an actual deficit of $2.2 billion in 1962. The deficit for the second quarter, which ended at midnight last night, cannot be guessed yet but there is no question that it was way above the SI. 8 billion recorded in the samo period of 1962 In April-June last year, we received a windfall in the form of a $600 million influx from Canada prior to the financial AnDt ...t.!U rn.nrl lnol,(i4tnrt nf 41-A Ponalion nlla, Inst OUrSelVCS, . T , ,; ..mnnli olen rormiri olmnst SI S With Hamlet, .mlnn ... TT c '-rto,,,Q- 1Q,, Wo Vinuo tnrfivori nn similar Blown Fuse Seen Rail Crash Cause Kenosha, Wis.-HJPMnvesti- gators believed today a short circuit in a diesel engine stalled a freight train on the main track Saturday and caused a collision of the Mil waukee Road's Hiawatha pas senger train. All but two of the 61 per sons injured were released immediately after hospital treatment for cuts and bruis es. The other two persons were held overnight and re leased Sunday. The passenger train, trav eling 90 miles an hour, slam med into the caboose of the six-car freight. The engine and two baggage cars on the Hiawatha derailed but ' the three passenger cars, carry ing some 11S persons, re mained upright. The Interstate Commerce Commission took over inves tigation of the crash. It was reported unofficially a fuse blew out on the freight diesel as il was pulling off the main line to a siding to clear the way for the scheduled pas senger train. -. . The Hiawatha was carrying scores of persons to the Je hova's Witness convention in Milwaukee. Series of Traffic Accidents Takes Heavy Death Toll A .5 By United Press International Eight persons were killed in a New Jersey bus accident in the worst of a scries of week end traffic accidents. Troops Subject to West German Court Frankfurt, Germany - IVPII American G.I.s and other Allied troops who commit crimes In Germany became subject today to West Ger man legal jurisdiction. The change means that U.S. soldiers stationed in West Germany can be tried in West German courts rath er than by U.S. court martial as in the past. . The . new arrangement is result of a pact that went into effect today. Though the pact was signed in August, 1959, after long negotiations, it was ratified by all coun tries involved only this month. Similar pacts already arc in force In the other NATO countries. ., , The agreement excludes West- Berlin which is under Four-Power Allied control j out covers servicemen on leave in West Germany from the isolated city. Four persons died in each of three different accidents. Six persons lost their lives in two others. In the New Jersey accident, a bus and two cars collided on rain - swept Route 3 at Rutherford ear.y Srturday, The bus was en route from the Port Authority terminal in New York City to Pater son, N. J. Its driver, Wilbur Parker, 30, had been driving for the bus lines only two days. Sunday morning on Route 15 at Wharton, N. J., two cars collided, killing four persons. One car carried sev en persons and four of them were killed. four young people were killed late Saturday night on an interstate highway near Indianapolis, lnd., when their speeding compact car slam med against a bridge rail and ended up in almost unrecog nizable shape. , ., , A pickup truck crashed Into the rear of a large truck trailer east of Baker, Calif., on "notorious Baker Grade" Saturday and killed four per sons. Three members of one fam ily died in a three-car crash in Arizona Saturday when their car apparently crossed the center line, collided head on with a second car which then struck a third auto. A drag race between two cars in Chicago's Dan Ryan Expressway ended in death for three persons, one an ex pectant mother. They were Walter Fleming, 24; Cor Wil liams, 22; and Mrs. Woods, 22, who was eight months pregnant. . Mrs. Woods' husband was one of the drivers. He was not hurt. - SAMBO'S OPEN 24 HRS. 102S So. Rivtrtido has been an almost uninterrupted erosion of the U. S. gold hoard backing the dollar. Of course, we have been attacking the problem on many fronts, ranging from drives to expand our exports of goods to the creation of elaborate technical defenses to curb the actual drain on our gold hoard. But that mid-August report still will be starkly bad news. Next: How did we into this "payments" spot? LIFE , INSURANCE Something for Thinkers To Think About! Really now, why not buy reducing farm and Invest the Difference? At Aga 30 $1 50 par year buys 40,936 Initial Face Amount, Reducing Monthly re Aga 6S IF YOU ARE PAYING MORE ... SEE . . . DICK HOUSE-1 1 Almond Street Phone 773-6607 Citiieni Life t Caiualty Insurance Co., Lot Angelot, Calif. 17 yeart a licensed agent Specialist in low colt life Insurance whether It is better. In this I ihni , (M n. oonanzas mis year situation that we face, to en dure those Ills we have than to fly to others that we know not of. Personally, I think we'd better endure the ills we have thisn,?'"''' A first central fact is that the red ink Is not due to our buying more goods abroad than others buy here. On the contrary, in 1962 our merchandise exports topped our Im ports by $4.5 billion and we re running a surplus again 5 BONUS DISCOUNT FOR CASH ON SALE ITEMS (meaning the tax bill enact ed by. the recent legislature) than to fly to other ills we know riot of. 1 1 recent legislature, we stand a guuu cnuuL-e ui gelling something worse. Who knows WHAT might get in a reshuffle? Tito Sees Hope To Ease Tensions Belgrade, Yugoslavia - iUPU -President Josip Broz Tito said Sunday recent statements RECORDS TAPE RECORDERS PHONOS HANDBAGS PLACE MATS CLOCKS aHOUSE HARES CHRISTMAS ORNAMENTS Shop All 3 Floors SALE ENDS July 3rd Use Your CHARGE PLATE Hours: 9:30 A.M. 5:30 P.M. Swem's 217 E. MAIN MEDFORD The problem Is due to the fact that we're spending so much more than our $4.5 billion trade surplus in other areas, To put it simple and without befuddling statistics, were running a deficit in our balance of payments, and thus U.S. If urn .mix rim the lav dollars BnU gOlU Hre Slowing 11UU UIC IlKivvs us umci 1.UUH- bill that was enacted by the rres ; ,,.., .defense, economic development and foreign aid abroad, U.S. firms and individuals are investing billions in plants and equipment Overseas. U. S. tourists spend more over- teas than foreign tourists spend here. Foreign borrowers are coming into the great capital market of the U. S. to raise funds, arid when U. S. investors buy their new bonds U. S. dollars go to the foreign countries. Money ii going abroad as pensions to retired employes living outside our borders, payments bv U. S. citisens of friends and rela tives in foreign lands, private charitable contributions (aueh as CARE). Short-term capital "hot money" it continuing to go to foreign financial centers where in terest rates are higher and consequently the money can earn more. Since 1950 the U. S. has had a deficit in its balance of by President Kennedy offer payments in every year except 1957, when the closing of nope sor decreasing wursa tv,e Suez Canal sharply boosted our exports, ine outcome tensions. Tito spoke after the new five-house Yugoslav parliment unanimously relected him president for life if he wishes, He singled out Kennedy s June 10 speech at American University in Washington as being encouraging tor future international reations. "Yugoslav policy is to main tain good relations with both East and West," Tito told the federal assembly. But he cited Communist China and Alban- 1 ia as exceptions to his nation s normal or friendly tics with virtually every country in the world. The newly convened parli ament gave Tito, 71, his fourth term as president. But under the new constitution adonted in April, Tito was ex cluded from the requirement that all top offices be roiaiea, in effect making him presi dent as long as he likes. Tito said there were grounds for hope that the unnea States, Britain and the Soviet Union could reach , a nuclear test ban agreement at - their scheduled July 15 Moscow talks. Quadruplets Born To Chicago Woman Chicaeo-IUPI'-The teenaged wife of a factory worker gave i.irih tn nuadrunlets Sunday I The Negro quadruplets, all oirl were born to Mrs. w !,., Harris 19. within 10 minutes the first at 11:09 a.m., the last at 11:19. They were reported In good condi tion. - Their weights were 4 pounds 10 ounces, 4-15Vi. 4-14V2, and 4-7, in order of delivery. They were about I one month premature. I Physicians planned to run tests today to aeiermme I whether the infants were I identical. They said the pos Isibility of identical quadrup I lets is far less likely than ' the occurrence of quadrup lets, which is about one in ; inn (inn. I Mrs. Harris and her hus- 'band, Bernard, 23, a tractor asscmbyline worker for Inter- i national , Harvester whose : take-home pay is $90 a week, have one other child, Shawn, 15 months .jr TLi,nk,J'- Jfy wt asm M t tr.HT IV WEIGHT If you're allowing yourself Just 50 calorics at snack time, the U.S. Department of Agri culture suggests you have three apricots rsr two large plums or one medium orange, i , ...but the best thing to take is money! Like so many other good things, a family vacation is much more fun when you save for it in advance and avoid debt. 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