PACE TWENTY
HERALD AND NEWS. KLAMATH FALLS. OREGON
VEDNE5DAY, JULY 13, 194?
Uncle Sam Is In The Red
Again; Treasury Men Eye
Ways To Raise More Dough
Br 8AM PAH SON
NEW VORK. July 13 Uncle
Earn la la the red again. He's spend
ing more than he takes In he
haa mare relatives and old friends
dependent upon him than a movie
star.
And the U. S. treasury Is now try
ing to decide from a number ol
suggestions by Interested parties
which Is the best way to raise the
cash to pay the bills. It's looking
for the way that will be the least
painful for the treasury and at the
tame time be profitable for the
banks and maybe give business a
helping hand, too.
The treasury calls this deficit fi
nancing. Six months ago President Truman
wanted more taxes to keep the
treasury In the black, saying a bud
get surplus "Is essential to sound
fiscal policy." Now he plumps for
deficit financing as the better
course at this time.
His economic counsellors say In
their midyear report that if we cut
down on foreign aid and national
defense two of the biggest Items
we'll not only be taking a serious
risk, but will be cutting olf tne
flow of federal dollars to consumers,
and thus lead to more lay-offs.
Deficit financing will pump new
money Into the economic stream.
to this school of thought, this will
give time lor everyone lo get his
second postwar wind and be off
again on the road to prosperity.
Certainly the American people art
used to deficit financing by now.
We have been in and out of the red
with Uncle Sam for years. In the
last 30 years rarely in the middle
'20 s and again a year ago have
we used black Ink. Meanwhile the
federal debt has grown to more than
$253 billion. The question business
men ask Is how much higher can
It safely go.
If it's finally decided to go on
spending at the old rate, the next
problem is just how the treasury
should borrow the money to meet
the bills.
Long term bonds with compara
tively high Interest rates will appeal
to private investors and Institutions,
and cost the treasury most. Banks
with money on their hands Just new
because business loans are falling
off are urguig medium term treas
ury notes with moderate yields.
When there was more demand for
business loans, which are much
more profitable to a bank, the
treasury's practice of financing its
cosh needs with short term certifi
cates with a low yield gave the
banks a chance to keep idle funds
earning a little and still easily
CARNIVAL
By Dick Turner
through treasury borrowings from ! available when a good business risk
banks. At the same time, various In- cme along.
ISA-DIGS
AM-FM
TEUVlSiON
Cora. iw st arrvxrr Kt tta u t t QTT
"Wo do SO need one!
Think how it helps to get baby
titters!"
dustries will profit from continued
government buying, subsidies and
social security payments. According
1
Sensational!
1 But lost night the treasury sold
S900 million of these short term
bills at an average rate of 0523 per
cent two weeks ago it had to
pay 1.158 per cent. Naturally, the
banks don't find the new low rates
too attractive.
The treasury also raises a little
money, but not enough, by selling
10-year savings bonds to Individuals.
But the treasury can't depend upon
this source of revenue in a pinh.
inereiore, me treasury wiu nave
to do its deficit financing through
the banks 'or Insurance companies.
It will have to decide how to do it
fairly soon. The treasury started Its
new year the first of this month
with a deficit of S1.80C.000.000. The
middle of September it has S1.292,
000.000 of 2 per cent bonds coming
due. It will decide well before that
Just how these are to be refunded.
Many bankers hope the treasury
will decide to Issue five-year bonds
paving 2 per cent or better.
This, they say, would find a ready
market, help the banks, and take
some, of the pressure off the treas
ury for going Into the market at
frequent Intervals to borrow money
at whatever rate is possible at the
time.
Whether or not deficit financing
will start another, and worse, in
flation spiral is another question.
My DayWHhout Fail
By FRANK TRIPP
By FRANK TRIPP . tried to paint and poets have failed
It's going to be tough to write a to picture. So how can I do justice
iviuiuu una oeauuiui aay. ll s loo i to daybreak at Olenora?
nice to write besides I mow In
going to be busy.
When I play hoosey from my lazy
occupation, I wonder why. All I do
is expose myself to manual labor
that I hire done every place except
the place that I'm supposed to relax.
There the setting beckons all to
complete repose. The morning
breaks clear and fair. A golden sun
portends a perfect day. It climbs
over the hills back of Peach Or
chard, ricochets across old Seneca
and paints the towering rocks a
bewitching purple. j
The ribbon of Big Stream's clear
aster tumbles a hundred feet into,
Clare Hawl--': oool at the foot of the I
glen. It Is like a great cathedral!
roofed by the heavens where God
seems closer.
I see this from my bed. as the
orioles, goldfinches and mimicking
catbirds chirp their sunrise sym
phony: and song sparrows carol
melodies of joy. It all blends Into a
rustic pageant that painters have
Two robins are chasing a chatter
ing chipmunk away from their nest.
Round and around a maple trunk
he goes and hot on his trail are
papa and mama redbreast, pecking
at his head until he reaches the
ground, a bewildered, beaten rascal.
Ne scoots to his lair beneath the
heaving root of an old elm. There
he has cached a store of Will Gard
ner's black walnuts, which are a
delicacy which Will gathers in the
fall, for callers at his quaint shop
w craca lor tnenueives on his anvil:
or some like to crush them in his
vise.
The esrly fishermen are pushing
their boats off the beach. Their
outboards cough or they wouldn't
be outboards but soon the fellows
who ki.jw how to spend such a Ood
glven day are off to capture Seneca's
luscious trout
It s comfortable where I recline
and captivating. The kaleidoscopic
parade of color and the antics of
nature's creatures would make It an
Interesting place to spend the day,
One morning a deer and fawn saun
tered leisurely up "Main street":
another, three brilliant cock phaas
ants strutted through our yard.
I am tempted to play sick but
across the lawn I see a pair of fat
rabbits having breukla.it In Fanny's
flower garden. Kanny sees them too
ana my day begins.
"If I had Herb Crulkshank aiuund
here I wouldn't be raising pyre
thrums to feed rabbits," she says.
I'm supposed lo get up quick and
shoot em; without harming even a
pansy, like Herb could.
So my day not Eleanor's gets
oft with a bang. And line Is what
It's like beneath a sun and sky
that summon folks with any sense
to commune with their Maker the
Isiy way.
The casualties In the flower gar
den are a choice l:;y and a treasured
Dieeaing heart- but no rabbits. As
penance I agree to repaint ten lawn
chairs which I last daubed with
white house paint, so they could
take the weather. They weathered
all right but begin to chalk olf. Dark
clad callers prefer to stand. "Let 'em
wear white clothes." I nout: but
didn't get away with It.
I get three chnlrs Dalnted when
there comes an SOS from Uie beach.
Mary has finished new curtains;
tried to put em up with tenpenny
nails and a tack hammer: bunged
up the woodwork, and her fingers
too. Will dad please come and put
up the curtain rods? I go to the
beach.
Fanny phones on the coffee mill
phone, while 18 neighbors listen In
Mary, your father has got to get
those chairs painted or thev won't
be dry for my party Thursday Oh
neavens. tell him to come quick
Turk just got In the paint and it's
all over him. Why didn't he put it
away?"
Nancy calls from further up the
oeacn: -uaa there's something the
matter with our washer and It s full
of baby things. And tell mother to
send Turk home." Walt till she sees
Turk.
Fanny miraculously gets the 20
party line again: "Frank. Anna
up near Htmrod. out of gas. She'
got the meat for dinner. You'll
have to go and get her." Amid still
other interruptions I wearily paint
away a glorious nay.
As the sun goes down, the fisher
CAN CAUSI
SERIOUS TROUBLE
Beware of Pti-Worma. otv PNtt that Hre
and crow Inaide lh human tmdy . . , and m
eaueeaehoaa trouble., .even internal taflan-
nation and bleedtnf . One of the dancer fns
la the tormearinff, rectal Itch.
Don't f mi . ehanrea. CM Aevna. f .W VaraaV
fane. -Wt vital ingredient ia a medically
approved drug that anentinrally and ea.it
deatrova no-worma sad removal mem I root
toe body.
So if yon wauieit Pin-Worms, salt toot draff
fiat for e-W. the amall. aaay-to-talra tablets
perfected by the famoue Jayne to-, apanalieta
la worm remediea lor over lOv year.
Gal real railed -W 8 far Urn Warraal
MARIAV MARTIN
Easiest-sew dress ever! NO
houlder or side-skirt seams at all!
The deep V-neckline. sash and
back-fulness are new-fashion!
Pattern 9044: sizes 12. 14. 16. 18.
20; 30. 32. 34, 36. 38. 40, 42. Size
16 takes 3'i yards 35-inch; collar,
? yard contrast.
This easy-to-use pattern gives
perfect fit. Complete. Illustrated
Sew Chart shows you every step.
Send TWENTY -FIVE cents in
coins for this pattern to Klamath
Falls Herald and News Pattern De
partment, P. O. Box 6140. Chicago
80. I1L Print plainly VOIR NAME,
ADDRESS, ZONE, SIZE, STYLE
NUMBER.
Now I A NEW Marian Martin
Fashion Book Is ready! On Its
pages are the most beautiful sum
mer styles, designated to sew easily,
to make your fashion dollars v go
further than ever! Plus a FREE
pattern printed In the book, a 1
child's beach robe made of towels.!
Send fifteen cents more for this i
book of Summer 1940 fashions! 1
NSI Checks To
Rol! By January
WASHINGTON, July 13 (cW Div
idend checks from national service
life Insurance probably will start
going out at the rate of 200 W0 a day
next January, the veterans admin
istration said Tuesday.
Carl R. Gray Jr, veterans ad
ministrator, said the complicated
preparations procedure makes pay
ment this year impossible. Gray's
letter replied to published charges
that the dividend is being delayed
until an election year for political
reasons.
The veterans administration is
going to pay a 62300.000.000 special
dividend on about 20.000.000 policies
held by 16.000,000 World War n vet-
era ns and servicemen. Individual
payments will vary widely depend
ing upon the type and size of policy
and the length it has been in effect.
A new DhotosraDhic emulKinn far
recording nuclear particles Is said to
bs so sensitive that its producers are
raced wn.n the problem of how to
prevent Its premature exposure by
COSmiC rsVS during ahinment in n.
search workers.
Let us Beautify the
Dented Fenders on your Car Today
We Will Match Any Color!
So. 6th & Walnut
Phone 5126
J. L. DEAN
Public Accountant
and Auditor
Offlct at
106 North 7th St
Phone 9346
Softer,
semi-gloss finish-
Easy-to-apply
fast-drying
I
3
For woodwork, waits-
fresh new beauty that
wears and WEARS!
Today! Start enjoying
lovely "new" rooms. It'a
ao easy to add charm
with your favorite
Pearl -Clo tones.
I I 1 1 i
rr - ...
'J
56
QUART
0 CAl.
Get PEARL-GLO at dealers who feature
GENERAL PAINTS
HLV' J.AtyT TOI CUMMINS If ARnWARR VAtt MFTrR HARDWARI
SIS Mala. Klamalk fall. Ull a. k, Klamalk Falls Malli. o,a.
IllitlsJhc most value j oiuyanl-
ifalhe greatlnew Plymouth yoipyanl
MOW 0MB
ISPLA V
THE NEW PLYMOUTH
3-PASSENGER BUSINESS COUPE
111-Inch Wheelbate!
97 H.P. Plymouth "Floating Power" Engine!
Economical to Buy Economical to Run!
FULL PRICE
ALTI RAS ni.Dfl. MATKRIAL A St PPI.T CO.
Allaraa, Calif.
fARMKai- gurPLT BAIRT, ORI.
WATER'S ARM RlrrrLT
aaeTiaert ora.
1605"
Delivered In
Klamath Falli
SEE IT TODAY AT
Former Legislator
Dies In Portland
PORTLAND, July 13 ( John H.
Lewis, 71, former state Irulslulur
and state highway engineer, died In
a hospital here Tuesday alter a
month s Illness.
A lawyer as well as an engineer,
he was educated at WlUumrtle uni
versity, Hianiord and Cornell, lie
was state highway engineer for 14
years, and also served as engineer
for the federal government.
In World War II he was associat
ed with Hie Portland housing au
thority. Lewis was active until his
illness began a mouth ago.
Funeral services will be held line
Thursday.
STALLliD
PORTLAND, July 3 leVr Arbitra
tion of AFL streetcar men's contiuct
demands was stalled by the recur
rent Illness of L. C Sioll. arbilrutur
and head of the Portland labor
management committee.
8toll returned to an Oregon City
hospital. He was reported In seri
ous condition.
men come in with three, five and
ten noundera. Tha mhlm rinr (ha
lawn detectlllff wnrma fnr their
young. The swallows wing over the
cove. All Is calm. All Is peace. I'm
at ease at last. In the porch swing.
But there come those riiumi mh.
bits again!
AMERICA'S GREATEST COLORED ATTRACTION
LIONEL HAMPTON
"King of Iht Vibrohorp" "Mottor of tho Drum."
and hit ORCHESTRA and Troup of Entortolntrg
24 PEOPLE IN A COMBINATION
SHOW and DANCE
Armory r.r) Sat. July 23
ONE FULL HOUR OF FLOOR SHOW. FEATURING
KITTY MURRAY DOUG DUKE
Cemralan She la Reraealer'l
alrl frleaa aa Jara Beaar'a
aew.
naa at lae re.Htrjr'a flaatl
Harara.aS OriaaUla.
CURLY w nu
laarer aaa Itraraaur. V.alrlle.el.l.
Plut tht following vocalists:
Jockio Paris - Jeannotto Franklin
Lurlcan Horrii - Loreno Carter Froncit Gaddiion
Tho Homptonei (Vocal Quartetta)
TICKET PRICKS
Purchased In Advance II.J0 Per Person Itas Inc.)
Purrhaaed at the Dance II.M Per Person lias Inc.)
Mall orders now. Send cheek or money order to Derby's
Music Co, 120 N. 1th Ht, Klamath Kails. Ejirloa self,
addressed, stamped envelope
s
9th at Pine Phone 3188
Store Hours 9 a.m. to 5:30 p.m.
WARDS ANNUAL
mm
25 FF
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SLIPS . . . .
GOWNS . :
ROLL-ONS
BRAS
REG. 2.98. Nylons, royon crepes, satins,
and jerseys. Tailored, trimmed. 32-52.
REG. 1.98. Rayon crepes, satins, tricot
knits and cottons. White, pastels. 32-44.
REG. 3.98. Lace-trimmed multifilament
rayon crepes. White, pastels. 34-44,
REG. 2.98. Rayon crepes, sotins, 2-bar
tricot jerseys. White, pastels. 34-44.
REG. 1.98. Easy to wash cotton crepes,
trimmed and tailored. Pastels. 34-44.
REG. 1.98. 2-way stretch panties and
girdles. Rayon elastic. Small, med., large.
circular stitched. A-B-C cups, 32-40.
2.22
1.48
2.99
2.22
1.48
1.48
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So. 6th and Walnut
Phone 5126
i