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Show i i LABOR'S LINKS TO A BETTER LIFE SALT WATER TAFFY I - I 1 '""II , i' "- i iv-. rr4 1 i frh 16-01 TUMBLER! piC -Blue or Gold Special Offer Parle Davis MYADEC HIGH POTENCY MULIPLE VITAMINS 130 COUNT ' $7.79 9 VALUE rJ) 69c W.l.. -vi YdlUe sc3 III Looking i Miicau bv Dr. George S. Benson President NATIONAL EDUCATION PROGRAM Searcy, Arkansas , f Jul- REBATE CAN BE DANGEROUS Toward the end of 1974, new car sales were lagging, automobile workers were unemployed and the auto manufacturing economy was in real trouble. Economic indicators in-dicators told us there was money to buy the new cars, but the public was holding back. Someone came up with an advertising gimmick called "rebate." It was an idea to stimulate new car sales and it worked. It has now been adopted by manufactures of other types of goods and it works fine in the market place as a stimulus to sales. However, one of those who has adopted the idea of "rebate" is the Congress of the United States. We question the advisability of an advertising gimmick being used in the relationship between the Congress and the people of this country, and we seriously warn against the possibility of disastrous results. Rebate Not Applicable To Federal Budget As private industry uses "rebate," it is simply a method of reducing the price in order to stimulate sales. It is presumed that the manufacturer offering "rebate" is either profitable, or will go out of business. Our federal government -is neither Erofitable, nor can it go out of usiness in the same way a private business can. The federal budget has been run-, run-, ning huge deficits for many years and we have had inflation for all those years. In fact, since 1962 when . spending for the Vietnam War combined with spending for New Frontier, War on Poverty, and Great Society programs, deficit spending has created the first major peacetime peace-time inflation in America's history. It is neither practical nor possible for the federal government to give back to the people something called a "deficit," for the deficit is only increased, causing more borrowing and more printing of paper money and resultant increased inflation. "Rebate" of a hundred or two hundred dollars of our 1974 taxes may make many Americans feel that "all is well in Washington," but it is a hoax and a fraud so far as doing anything about a permanent cure to inflation. In fact, it directly will contribute towards greater inflation and higher prices. Historic Inflation . ; - And Its Cure There have been five major periods of inflation in America's history. Each of the first four were brought on by wars. The Revolutionary War brought the Continental Notes and greatly inflated prices. "Not worth a Continental" came from the redemption of that paper money at two cents on the dollar. But it was' redeemed. The War of 1812 also brought inflation as did the Civil War and World War II. Each time, the money supply was inflated by the printing of paper currency to meet the expenses of War, but in each of those first . four periods, there followed a reduction in the money supply, a balance in the federal budget and a return to former price levels. Inflation's Cause '. And Cure From 1962 to the present, only . one attempt has been made to bring inflation into control. From January to June of 1969, the federal budget was balanced, the growth rate of our currency supply was reduced to zero and price increases dropped from an annual rate of seven percent to 2.7 in a period of six months. Then, the policy was changed back to a deficit spending program, and inflation in-flation and unemployment have plagued us ever since. The only cause of inflation is . too large a growth rate in the money supply. It is not caused by "business" or "labor," by "bankers" or "bureaucrats," though we all may be contributors. con-tributors. The only cure for inflation is to slow the rate of growth of the money supply. This is not easy, it requires belt-tightening belt-tightening by all the people and most of all, requires leadership of statesman quality. "Rebate" of a few dollars of last year's taxes is not the kind of leadership necessary to stop inflation and our economic recession. S Pi Off C lHCrnf Future A DIRECT QUOTE FROM THE NILES WEEKLY REGISTER 145 YEARS AGO 1830. BALTIMORE The bridge over Gwynn's Fails on the Baltimore and Ohio rail road was completed by the laying of the last stone on the eastern extremity of the south parapet. Carroll of Carrollton, our venerated fellow citizen, the last living signer of the Declaration of Independence, presided at the ceremony, and the bridge, in pursuance of a resolution of the Board of Managers, was named after him, "The Carrollton Viaduct." ' . Two of- Winan's cars built by Mr. Imlay, one of them furnished with great taste and elegance, reached the grounds; the largest being be-ing occupied by thirty-seven passengers, was drawn with the greatest great-est facility by one horse. Two dogs attached to a car trotted off with a load of six persons. Many distinguished strangers were present to watch these interesting experiments. We salute progress through comparison and pay tribute to those who toiled for it in the past. NEW KLEENEX CASUALS FACIAL TISSUE 100 2-ply Tissues 39C (nfr . PRICES EFFECTIVE JULY 2nd THROUGH JULY 9th mm Reg. y mm f w Mm mm 7 J CHILDREN I SK Jl0f I BAYER ft 1 CHILDREN'S I ASPIRIN J fl 36 tablets I 'A grain - I VALUE Sihm ( II "II loom ix" mu. V: : :-:-: :-ill :-ill II "r SUCARYL NEW ' It II II 0 JHn N M I JMMM 1 KITCHEN GADGETS Special! 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I qt. $1.15 VU'U-'C Oft lMPNllB i ii ii i I ii ' . i ii I i Ou 56- $2 Re Duro Pac Brass SNAP SWIVELS Size 10's, I2's, I4's. Pack of 6 (; 39c Reg. ZEKE'S FLOAW BAIT 2-oz. PREMIUM .$1.69 Reg. $39 HEADQUARTERS for all V IIEEDSI YOUR PwsomoN IMMtBTHMMIWWnon mmiKMn IMTCNimi 0 iliti4 TURTLE WAX ZIP CAR WAX Waxes as it washes. 20 oz $1.79 REG A 29 |