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Show MILLARD COUNTY CHRONICLE Delta, Utah, Thurs., June 3, 1954 SUGARVILLE 4-H The Busy Bees Sugarville 4-11 dub met at the home of Virginia Jensen, Thursday May 27. We learned how to make a piain seam under the direction of our teacher, Inga May Memmott. Refreshments were served. Kathryn Shields, reporter Mr. and Mrs. M. M. Reeves from Preston, Idaho, were in Delta from Saturday until Monday, visiting their mother, Mrs. Mary Beck-with, Beck-with, and family. Mrs. George Chamberlain and daughters, Carol, and Aileen, who has been attending USAC and mother, Mrs. Aherne, left Delta this week for Los Angeles, Cal., to join Mr. Chamberlain who has been in California for the past year. Mrs. Chamberlain plans to return to Utah later, for summer school at BYU. and then 'back to Cal., where the family will make their home. Mr. Chamberlain was custodian cust-odian in Delta high school before he went to California last year and Mrs. Chamberlain has taught in Sutherland for six years. ? s.v. r t la) June is the start of the vacation season, BE SURE your tires are ready and Safe for fast driving. driv-ing. "Get new UNICO TIRES from your branch manager, full warranty, including in-cluding road hazard haz-ard guarantee. Your best buy is UNICO. 0 I've Decided fo Be Alodern and Oak Citv By Mae H. Shipley A large crowd attended the program pro-gram and dance honoring Elder Garry Roper, Saturday night. The program was at the Chapel and they danced in the recreation hall. Mr. and Mrs. Howard Dutson from Idaho spent a few days in Oak City especially their vis't was for their brother Garry's farewell narty and dance. Mr. and Mrs. Bruce Lyman and children from Provo Mr. and Mrs. Onzlow Nielson and children, Mrs. Wanda Nielson, Mr. and Mrs. Dana Dodge and family from Salt I,ake, Mrs. Rachel Melville and children from Salt Lake, Mrs. Lima Anderson Ander-son and son Lem and Mr. and Mrs. Loyd Olson and children were a-mong a-mong visitors seen in Oak City Saturday, Sunday and Monday. The Clara Talbot reunion was held Sunday in the canyon ail her children were present and most of j her grandchildren. About 07 were present. Out of town people present pre-sent were Mr. and Mrs. Seymer Memmott and family, Mr. and Mrs Basil Talbot. Mr. and Mrs, Noel Talbot, Mr. and Mrs. Jos. Wells and family Mr. and Mrs. Ardell Jenkins and son Emron and Mr.and Mrs. Lyle Talbot and Mr. arid Mr.;. Ernest Talbot, Mr. and Mrs. I.oren Talbot, Mr. and Mrs. Lee Talbot, Mr. and Mrs. Edwin Skeem from Cal. Elder Delyn Nielson was the speaker Sunday evening, he gave a very fine report of his mission labors in the Cal., mission. A large crowd was In attendance. Mr. Russel Mathews of Nephi is spending the summer in Oak City working for his uncle Parley Roper. Mrs. Angle Lyman from Idaho Is visiting her parents, Mr. and Mrs. Geo. Finllnson. Kent Flnlinson is home after spending a week In Cal. his grand j III 'I 111 f ' "1 1 I I .T I 1 T I .1 I H 1 lift V-l S with him. The Junior Gleaners had a "Sheaf Binding" Tuesday night, at the borne of Miss Wilma Wlxom. Mrs. Frma Nielson is the teacher. The Cleaner Girls are Glenda Talbot, Lonn Talbot, Diane Harris, and Mnyron Dutson and Meredith Anderson. An-derson. Mr. and Mrs. Leroy Walker, Mr. and Mrs. Tho. C. Lyman, Mr. and j Mrs. Einntis Alldredge and family Mr. Allan Lovell and children and Mrs, l.ydiu Vaundrey spent the weekend visiting In Oak City. . IE.." fc." U00K -v Cooking is really fun the modern electric way. Your kitchen stays coot. Pots and pans stay clean. Automatic controls allow you to turn out a perfect meal with only minutes spent in the kitchen. Yep! My way is clean, coo and fast. That's why so many houswives have switched to MODERN HlCTRtC COOKING! TELLURIDE POWER COMPANY fuuior (arc!cti Chili At Iynmlyl Our school has elected new officers off-icers for our Junior Flower Garden Gard-en Club at Lynndyl, Our officers are Ross Johnson, president; Gary Wiley, vice president, Gloria George, Geor-ge, secretary and reporter. Mrs. Zola Bunker sent our school some marigold seed. I hope we have as good success this year as we did last year. - Gloria George, reporter Major Wayne Morgan, from Bark sdale AFB La., and his wife and five children, spent Memorial Day weekend in Delta, visiting their aunt and uncle, Mr. and Mrs. Frank Wood and family. Friday night the visitors were entertained at a picnic supper in Oak City canyon, with Mr. and Mrs. Wood, Mr. and Mrs. Wells Wood, Mr. and Mrs. Reed Wood, Mr. and Mrs. Lon Wood, Mr. and Mrs. Rex Wood and Mr. and Mrs. James Anderson and families. From here Major Morgan and family were going on to Ogdcn and Idaho to visit his sisters and then drive back to Burksdale. Emery E. Peterson, who recently returned from two years In Wyo., and Mont., where be filled an LDS mission, and his daughter, Miss Mary Petersen from Salt Lake City spent Sunday' and Monday In Delta with his daughter, Mrs. Wanda Beckwith, and family. Mr. At Scott from Cal., visited the Ray Flnlinson family a few days. Mr. and Mrs. Clarence East, Mr. and Mrs. Robert Nielson and Mr. and Mrs. Oscar Tike and daughter were Oak City visitors over the weekend. Miss Glenda Talbot visited a few days at Hurricane nnd Kanab. She went with Mr. and Mrs. David Talbot and family. She returned home Monday, tr nnrt Mr Wm Rilllncslv and children from Salt Lake visited In , Oak City a few days. Mrs. Edna Christensen returned with them for a visit. Mrs. Serma Muray and daughter Mrs. Ella Usta'ch from Salt Lake City were visitors at the Edna Christensen home. Mrs. Don Anderson spent the weekend at Pleasant Grove. Her daughter Bernice returned home with her to spend the week. Giving Our World The Once " Give me the power to issue J a nation's money, and I do not : care who makes the laws." Anselm Rothschild Root Of Evil As a root of evil, the love of money Is probably at least equalled equal-led by widespread lack of under- 1 standing of the subject. One rea-J son for the general confusion is that for generations teachers, ec-1 onomists, and government authorities author-ities have believed and taught things about it that are not so. This is as true of gold standard conservatives as it is of doctrin aire Marxists. In an attempt to promote better bet-ter understanding of our nation's credit and money system, the Board of Governors of the Federal Reserve System have published a book, the Federal Reserve System-Its System-Its Purposes And Functions. A copy is available in the Delta City Library, but anyone can obtain one free by writing to The Div ision of Administrative Services, Board of Govs, of the F.R.S., Wash lngton 25, D. C. The board is quite willing to give a copy to anyone who is sufficiently interested to ask for one. The book is Informative. It tells exactly what it purports to tell of the theory behind the creation of on: central bank, and how it work It would make a good handbook for students of economics as a source of authoritative data. It explains for one thing, a point which many people have won dered about: who owns the Fed frnl Reserve, and who gets the profits. The' F-R may for practical pract-ical purposes, be regarded as jointly join-tly owned by the Federal Government Govern-ment and the members banks. The latter are required to subscribe to the capital of F-R in a maximum amount equal to 6 of the member's mem-ber's capital and surplus, but only half of this must be paid in, with the other half subject: to call. The F-R is required by law to pay C return on the paid-in capital. This 6. as indicated by a chart showing disposition of the F-R's gross earnings, appears to equal 8 of said gross. Seventeen Sevent-een per cent is credited to surplus, sur-plus, 30 goes to pay operating expenses, and 39c is paid into the U. S. Treasury. On this and other matters dealing deal-ing with facts, the book Is excellent. excel-lent. It explains that the System was conceived in 1913 as a means of providing an "elastic currency", the lack of which In earlier days, had given rise to serious economic econ-omic troubles; it explains that our present currency is tied to gold through the legal requirements that the F-R must not issue currency cur-rency of that allowable under the 25 gold reserve; it explains the service functions of the system, such as the supervision of banks and Its powers of selective credit regulation, and It makes clear the process by which changes in interest in-terest rates and reserve require ments operate to increase and diminish the volume of money and credit available to the nation as a whole. Unfortunately, however, such explanation ex-planation of what the Federal Reserve Re-serve System was designed to do. what It does do, and how it does it, hardly constitutes the last word on the subject. While the system represents a great improvement over our earlier earl-ier banking systems, it still suffers from Haws which have manifested themselves from time to time in both the theory and implementation implementat-ion of the basic concept. It is open to the charge that, through failure ! work as intended it was the "i.lerlyina cause of the great depression, de-pression, and, indirectly. of ail that followed. This monetary dis-location dis-location for the depression was nothing more nor less than the reult of monetary dislocation led to the rise of radicalism in America, and a host of serious troubles traceable thereto. The basic flaws in our money system which led to the depression are still in it, and this fact is siving concern to serious, informed observers. ob-servers. The 25' gold resere requirement tor instance. is a relic of the days of barter, and it could become he cause of another depression if ir.y large volume of our gold were o be exported on orders of foreign for-eign holders The setting up of an "at:c currency" was a ster in h risht direction but it alone lid rot prove enough to cim-erae cim-erae for the collapse of bank -red.t in the early thirties, ever hough a the book states, the Tsre Sstem easily met the de mands for currency jrs those days The interest rate n t a v&I the a!ae of money, fu-t1 'riire. We know now th3t the or.H- true guide to the value Over By Dick Morrison of the dollar is what it will buy, as reflected in an accurate statistical stat-istical index; the most important th'ng a businessman must consid-j er, when planning a new or ex-; panded venture, is not the rate of, interest he will have to pay for money, but the amount of goods and services he will have to give in exchange for dollars when the time comes to repay his loans. So. while valuable for exposit-; ion of how our present money j system works, this Federal Re-1 i serve book leaves much to be des- j ired by students of the theory of j money and credit. Perhaps most serious omission of all Is its disregard dis-regard of the fact that in an expanding ex-panding economic system, we have, under the present F-R, no alternative to depression but an ever-mounting, interestbearing debt. de-bt. And this creates a condition which must, some day, break down of it own weight unless reforms are undertaken. The book Is predicated on the assumption that our present money system Is right. I say It is wrong, and you readers may buy your Chronicles and take your choice. It is the Board of Governors of the Federal Reserve against Dick Morrison. "Freedom From Insecurity" On the subject of money, the Federal Reserve taxes and government govern-ment economic policy in general as it applies to labor, agriculture, industry, in-dustry, and America's proper role in foreign affairs, a new book, Freedom From Insecurity, by Hugo E. Czerwonky, is one of the finest ever written. Here is no "this is the way It works, therefore it is the best of all possible systems" approach im plicit in the FRS book above noted. Mr. Czerwonky takes our money and tax systems apart, and comes up with some suggestions for a new national policy which could, conceivably, hold the answer to some of the most vital problems of our times. He would build his new national policy on a foundation consisting of two essential reforms. One is amendment of the Federal Reserve Act for the purpose of "synchronizing "synchron-izing the flow of dollars with the flow of finished consumer goods". This, he claims, would destroy a cardinal tenet of the Communist creed--the inevitability of economic econ-omic depressions in capitalistic nations. He presents a text of the proposed amendments. The other is overhaul of the tax structure, with substitution of what he calls "The maximum jobs principle of taxation" for the present pre-sent ill-conceived hodge-podge. The idea underlying his Maximum Max-imum Jobs Principle is that a vast amount of savings, invested in plant and equipment, is necessary for each worker employed. The figure averages about $14,000, and runs as high as $80,000 per em-ployeee em-ployeee in some new plants. In order to enable people and business bus-iness organizations to accumulate the necessary savings, he would abolish all income taxes, both in- Sffl Will j V A N H 0 r7 ,-- , I ; CI' i i..o-h ! ' J y r i . I ' ' ' t V - , lnt'i X if . " I' 'r- . ' fc -4 aAUuuI and corporate, and sub-, shtufe Federal manufacturers' sale j or excise taxes, among others. This j radical move as he states, might; "come as a surprise and shock to I some", but he holds it the best; way of maximizing savings ac-, cumulation, and at the same time of preventing the government from dispersing the wealth represented on non-productive projects. His arguments in favor of both reforms re-forms are very strong. Once these reforms were effectuated effect-uated solution of certain less basic problems would become easier. For one thing, the seeming need for coercive labor legislation such as the Wagner act would all but disappear. dis-appear. The economic climate would become such that employers employ-ers would find it necessary to bid tor labor, and "two-way bargain- j ing , a lorm oi maiviuuai gaining would largely displace col lective bargaining. Likewise, the basic tax and fiscal fis-cal reforms would eliminate one of the most disturbing factors in ag-griculture; ag-griculture; the price problem. Supply Sup-ply and demand, in a healthful economic climate, would suffice; the remaining elements of the farm problem would consist more of soc iological problems such as those created by migratory workers. Foreign policy would become im mensely simplified. "Because of our tremendous importance in world trade our- internal economic instability in-stability tends to undermine the economies of our foreign friends.." "As our Federal Reserve mechanism mechan-ism is now constituted the Board is virtualy helpless in coping with the problem of internal economic stability. Hence depressions, so far as F-R is concerned, are virtually virt-ually inescapable. This situation is wholly inexcusable and must be corrected if we are to enjoy international inter-national peace and economic stability". stab-ility". As one incidental result, the size and cost of the military establishment es-tablishment could be reduced. These and related topics are discussed dis-cussed with penetrating insight and deep understanding of economic econ-omic factors. The book is one of the great politico-economic works of all time. I recommend it without with-out reservation. Mr. Czerwonky dedicates his book "To the future of my three children". A more laudable dedication ded-ication would be hard to imagine. It reflects the aspiration to help show the way to a better world, for his children, and for all of the children of the world. The book The U. S. Tariff Commission's report to Congress en lead-zinc mining tetis a clear story profits down 80, employment down 20 because of huge increases in imports of metals from low-wage foreign countries over the past two years. The Commission has sent a similar report to the President. Let's urge him, by telegram and letter, to aulhorize the recommended recom-mended tariff increases. 1 i r. i I " -1 1. IM, inni. i '.in,.! . r -- . f T 0 R end S U ! DELTA. UTAH oluuQ0a;ii 11151 !t I P II una newesr...a immi On Servicemen In keeping our promise to keep you posted on the standing of Millard County in the Military" we submit the following list of names Since our last report these men have entered service. Don W. Anderson Kanosh Blain C. Jones Delta Wilford D. Ashby Delta Lynn H. Hatton Fillmore Lester F. Grygla Leamington During the same period these men have been released. Reid M. Penney Kanosh Connie G. Bement Kanosh Earnest P. Christensen Holden J.Iayn&rd S. Crosland Holden Richard J. Carter Hinckley If you have wondered why certain cer-tain men have not been inducted when it appears that .they should have been please note that we have inducted only two men in regular re-gular order since the first of the year. The rest have been younger men who have volunteered to 'be inducted ahead of their regular order. This trend will probably continue from now until school starts again next fall. ' Hillman Davies, Clark LB 14, Fillmore, Utah Mrs. Nell Watson returned to Delta Sunday night from Idaho where she had visited several weeks with her sister, Mrs. Oz Wilcox. On the return trip Mrs. Watson visited In Salt Lake City with her daughter Mrs. Alta Jamison, Jam-ison, and family. Mr. and Mrs. Albert Monson, of McGill, Nev, spent the weekend holidays in Delta, visiting Mr. and Mrs. Clayton Giles. Mrs. Jennie Miller left Monday for Salt Lake City, to spend the summer with her husband, Elton Miller, who is employed there. Before Be-fore moving there Mr. and Mrs. Millr and their mothr, Mrs. Susan Sampson, drove to Wayne County for Memorial Day. Mrs. Sampson is remaining there for a visit of several weeks. appears the work of a practical and profoundly intelligent idealist. "Freedom From Insecurity" by Hugo E. Czerwonky, is available from Public Affairs Press, 2153 Florida Ave. Washington 8, D. C, at $3.50 perc'opy. .n.,... (timil . f -, MtiviZlu ITIll mm j 1S4 Ci;t 2-Lr xi $1960.56 CEUYIRED LOCAllf V. tte !i'.Ju'J,Si. :pmtKt. uu mnj U2 l-xz.'. ni;j.J. B c:U ujruI P L Y C Q . ti7! I ... - ' |