Medford mail tribune. (Medford, Or.) 1909-1989, August 30, 1963, Image 3

Historic Oregon Newspapers

Medford mail tribune., August 30, 1963, Image 3

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Newspaper Page Texto MEDFOHD MAIL TRIBUNE. MEDFORD. OREGON FRIDAY. AUGUST 30. 1963 SWORN IN - Howard Jenkins Jr., 48, of Denver, is sworn in as the first Negro member of the National Labor Relations Board by Supreme Court Justice Arthur Goldberg. Jenkins, a Republican, is a former law professor and specialist in the field of labor administration. He succeeds Philip Ray Rodg ers, now GOP counsel for the House Labor committee. Cen ter is Gerard A. Brown. (UP!) Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. WHAT IS DOLLAR DEVALUATION? V (Last in a series of 5 columns) In Washington this Sept. 30, the Finance Ministers of I he free world will convene for the most crucial interna tional monetary meeting since the 1944 Bretton Woods con ference the historic meeting in New Hampshire at which the United States led in reconstructing the war-devastated financial structures of the West and in creating the great International Monetary Fund and World Bank. At Bretton Woods almost 20 years ago. the dollar's power was at the core of all discussions, for only our rurrency was strong enough to become the pivot of the West's economies. In Washington next month, the dollar's weakness will he at the core of all discussions, for just because we have sent so many tens of billions of U.S. dollars abroad to build, rebuild and defend other nations, we have progres sively undermined the dollar's enormous power. Therefore, for the first time, the delegates to the In ternational Monetary Fund's annual meeting next month will openly debate whether and how and when the mone tary structures set up at Bretton Woods should he "'re fined" or "further developed" to take the load off the dol lar and provide the additional credit which will be essential in the years ahead to finance a rising volume of world trade. There is no "instant gold" solution to the problem that has hit us because we have been spending so much more abroad than we have been earning abroad year after year. We cannot solve the problem of our dwindling gold supply by doubling the price at which we officially sell gold to qualified foreign owners of dollars, thereby giving ourselves a 100 per cent "profit" on our gold reserve and twice as many metal dollars with which to meet dollar claims against us. We cannot expect to end the deficit in our balance of payments by devaluing the dollar in terms of gold and other currencies, thereby theoretically making our exports of goods and services much more attractive to foreign customers and imports of goods much less attractive to U.S. consumers. The theoretical advantages of a unilateral devalua tion of the dollar simply do not hold up even under su perficial scrutiny. In the words of Treasury Undersecretary Robert V Roosa, "Raising the price of gold by devaluing the dol lar would certainly be followed by similar action on the part of other countries" (wiping out our advantage at once), and "the world would be left without a major currency, generally acceptable as a supplement to gold. That is why most serious consideration of international monetary re form has long since dismissed devaluation of the dollar as a practical possibility.'' In the words of Federal Reserve Board Chairman Wil liam McChcsney Martin, "It would immediately spell the end of the dollar as an international currency and the beginning of a retreat from the present world role of the United States that would produce far-reaching political as well as economic effects. It would invite the disintegra tion of existing relationships among the free nations that Rre essential for the maintenance and extension of world prosperity and even world peace." The U.S. now is acutely aware that a failure to slash the deficit in our balance of payments will have disastrous consequences. We are launching a major drive to expand our exports, even though we already Rre running a $4.3 billion a year surplus in our lrade. We are cutting down on foreign aid spending, other types of overseas spending. We are raising short-term interest rates to encourage foreign holders of dollars In keep them invested and on deposit here and to en courage U.S. lenders to seek borrowers here, The White House is pushing a "penalty" tax to dis courage U.S. investors from buying foreign securities and thus adding to the outflow of dollars. We are insisting that most foreign aid funds be used to purchase U.S. goods and services. We are promoting tourism in the U.S. to close the gap between what U.S. tourists spend abroad and others spend here. We have created an unprecedented system of technical defenses for the dollar and, in close cooperation with the central bankers of other nations, are improving the defenses from month to month. But unilateral devaluation of the dollar? Forget it. Adult Education Programs Are Asset to Community By DAVID NYDICK UPI Education Specialist Adult education programs are a valuable asset to our society. They allow individuals to pursue personal interests with expert direction and instruc tion. Adults participate for many reasons: to obtain a high school diploma; to obtain a better position; to better enjoy leisure time; as a social activity. There are many op portunities to study cultural, recreational, academic and business subjects. The adult who completes his regular education and is now employed soon finds that there are many areas about which he would like to learn more. He makes an excellent student since he has a genu ine interest in learning. There are many community agencies sponsoring adult programs. You should inves tigate the many fascinating possibilities. Question: I am inquiring about the availability of an adult edu cation course, in art, for a group of young parents. We have checked with our local school system and find that they do not offer any adult courses. We are willing to travel a reasonable distance but do not know how to lo cate such a class. How should we go about solving this prob lem? Answer: Adult education programs have expanded rapidly dur ing recent years. There are several approaches you might follow. Check with neighbor ing school systems, nearby colleges, libraries, and mu seums. If these institutions cannot meet your needs, try to arrange the course by yourselves. This can be done by contacting the extension division of a college. You pos sibly could make an arrange ment with an art teacher ! from your local school system You might also perform a community service by rc ' questing your local board of education to organize an adult education program. If there is sufficient community interest, the board of educa tion may arrange such a pro gram or at least permit the use of school facilities by ! outside groups. Question: I am interested in taking several college courses with out enrolling for a degree. I am a high school graduate. Is this possible? Answer: This depends on the college. Some institutions permit in dividuals to take courses with out credit or as special stu dents. You should inquire at the college admissions office. Question: My neighbors would like to improve their ability to speak English. They also wish to be come citizens of the United Slates. They have asked me for advice. 1 helped them com plete the proper applications SLATE MEET Portland -lUPD - The Oregon State Conference on Alcohol ics Anonymous is to begin a two-day meeting at the Port land Hilton here Satnrdav. for citizenship, but I don't know where they can obtain the necessary education courses. Answer: Your local school system should be able to assist your neighbors. Contact the board of education or superintend ent's office. They generally sponsor citizenship courses for adults or will be able to direct you to the nearest sys tem which does. The courses are usually free, although it is possible that a fee will be charged. You can also check with the office where the applica tion for rilizrnship was filed. A 3 Burial Insurance Sold by Mail . . You may be qualified for $1,000 life insurance ... so you will not burden your loved ones with funeral and other expenses. This NEW policy is especially helpful to those between 40 and 90. No medical examination neces sary. OLD LINE LEGAL RESERVE LIFE INSURANCE. . . . No agent will call on you. Free information, no obligation. Tear out this ad right now. , . . Send your name, address and year of birth to: Central Security Life Insurance Co., Dept. M-983, 1418 West Rosedale, Fort Worth A, Tex.is. rPENNEY'S ALWAYS FIRST QUALITY DOWNTOWN MEDFORD LrDd "s in iw EL W all we want for m 1 toWIWTO W at, jm,- If IS 3r m aooci clean floor Thil ' hV aiMvth wKm ret Ike Christina ifir'A and atftrt maltmf "iift" tut Merc and Comet. T.u . th l " ? tutted to ehrjr Swi C W (by r" ww Hw !) MEDFORD MOTORS 225 South Hi vrja "1 Plsififi BIG BUYS GO ON SALE 9:30 a.m. SATURDAY! SORRY: NO PHONE OR MAIL ORDERS!! TERRIFIC VALUE! Hall or stair runners Terrific value . . . rayon tweed pil runners, foam back for comfort . . . perfect floor protector for hall ways, stairs, heavy traffic areas on other rugs. Light fawn, grey, multi stripe, light green, or maize. 24" by 144" size 4.88 SPECIAL! 244 24"7i" ANOTHER TERRIFIC VALUE! 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