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Show Thursday, Nov. 22, 1979 THE SENTINEL Why inflation will accelerate News DigestW.J. firemen Volunteers needed By Henry Hazlitt' i Washington Dateline Inflation in this country will continue, and for as many years ahead as one can reasonably foresee. Its rate will increase, at least in the next few years. The dollar will probably continue to decline, in the next year or two, in relation to other major currencies. Our "voluntary" price controls will become mandatory price controls. This will lead to increasing shortages of one commodity after another, but they will be blamed on business. Rationing will be imposed, and it will spread. . with ; Why can we make these predictions reasonable confidence? Because the policies of the Carter Administration, of Congress, ' and of our monetary authorities have already been bringing about these consequences for the last couple of years, and there is no sign whatever that these policies are going to be substantially changed. -- Inflation will not be stopped until we balance the federal budget. It will not be stopped by promising to balance it in some future year, but only by balancing it. This is not merely because nobody any longer trusts such promises, but because the billions of federal expenditures not paid for out of taxes will inevitably continue to be paid for by printing more paper dollars. This will continue to mean a depreciating dollar. In his election campaign in 1976, Mr Carter promised to balance the budget in 1980. But he took no steps whatever to bring such a balance about. In January of this year he was estimating the deficit for 1980 at $29 billion expenand, when he included ditures in his total, a deficit of $41 billion. His estimated deficit for fiscal 1981 was much lower, but for fiscal 1982 he was still estimating the deficit at $38 billion. "off-budge- by 255-22- ET.TTs to receive ' , xVD0ES LOOK A MITE vQB fuel-efficie- ce- ' . -- SERIOUS AT THAT..." More information can be obtained by calling 1 Advanced or the station, fill is since reservations planning necessary fast. j up losing 48 points on the Dow Jones industrial average in three trading days. The plunge was attributed to the high interest rates and to the belief that the inflation rate would in fact be substantially slowed down. But this hardly explains rising gold prices and continued weakness in the dollar. V nt Turn now to the creation of new credit and paper money. Here, it is true, the Federal Reserve Board, on October 6, announced a dramatic change, it raised the discount rate a full percentage point, from 11 to 12 percent, the highest on record. It imposed an 8 percent marginal reserve requirement on increases in certain liabilities of member banks. And most important for the long run, it announced that henceforth it would pay more attention to holding down the growth of the money supply than to trying to control key interest rates. ; Ciuffdxle adopts bond resolution The Bluffdale City Council adopted a bond resolution for $100,000 to be used to construct improvements and extensions to the city's water system. A proposition concerning the revenue bonds had been approved by the registered voters on Aug. 7. The bonds will be made payable from the twenties of the system. The city has a thirty year lease from Riverton on the water distribution system. The bonds must be paid back within 40 years. Ccnta will enswer letters Salt Lake County Recreation School From the files of pM Sentinel newspapers. v: boxing clubhouse being completed this weeTc at MarvJensonVul West - there. They are the children of Mr and Mrs A. P. Rasmussen, of Midvale. The first case handled by the and ambulance purchased Midvale the firemen, operated by was handled efficiently on Wednesday night when Mayor A. R. Gardner, suffering a sudden relapse, was rushed from his home in Sandy to the LDS Hospital. Mr Gardner has been suffering from a heart ailment for several months. The call came to Chief L. C. Canning at about 5:30 p.m. Wednesday by Dr. Thomas Clark, attending physician. Kelvin Aylett was the driver and was assisted by Chief Canning. . Three girls who suffered severe injuries in the bus accident on Dec. 1 of last year have recovered sufficiently to attend classes this year. Ann Webb is a petite little sophomore hailing from Riverton. She suffered a broken back and was forced to stay in a hospital for six and a half months. e From South Jordan comes Beckstead; however this young lady suffered an unfortunate fall just a few days ago and is again out of school temporarily. Louise Hardman hails from Bluffdale. She says, "It's wonderful to be able to walk." Mar-jori- 31 years ago. A musical program by students of the Sandy school was featured on the program at the meeting of Sandy Post No. 77,; American Legion Auxiliary held Monday evening at the Congregational Church.. Mrs "Marie" Stuart.' president, was in charge. Mrs Deon Davis, membership chairman, was in charge of the program. Piano selections were played by Miss Judy Larson, and cornet duet were selections Boyd by Dean Frandsen, and Beckstead accompanied by Mrs Elizabeth Sorenson. A committee consisting of Mrs Mrs Darhl Agnes' Kemp, and Mrs Myrtle Beckstead, Wright was named to make arrangements for the annual Christmas party to be held in conjunction with the legion. Jordan. executive Secretary Utoh Education Association' modern-da- y nam- Five decorations were awarded to SP4 Lynn M. Silcox at a ceremony held at Ft. Riley's Custer Hill. Individual high single game, Skip Landers, 235; Frank Kamnikar, 221; and Steve Pazell, 216. 20 years ago .. . mortgage. . Taking part in the ceremony were er Arthur Crane, member and mortgage holder, Pres. Julian secretary, Golden Butter-fieland vice presidents, James Walker and Almon Butterfield. A trophy, to be presented to Newell G. Bringhurst, has been For-ma- n, d, : Buried up to his neck in soft, wet waste, William Vernon "Buck" Jones was rescued a second time from the U.S. and Lark Mine Tuesday. Jones, who lives in Midvale, was buried for 84 days in the mine last March before being rescued. Tuesday's rescue was faster, but had the effect of convincing Jones he's not anxious to work underground again. " ' ... Dr. Urie Bronfenbrenner, a noted child behavior authority, stated that the greatest danger of TV watching for children may not be so much in the behavior it produces but in the behavior it prevents. character. fashion while serving his country in Viet- . By age 18 the average American child will have spent more time watching TV than in any other single activity except sleeping. tall westerner from Utah, presently assigned to Ft. Riley, personified the true spirit of the Old West in 572. Gene Fullmer, preparing for his middleweight title, defense against Spider Webb at Logan, will finish his training in the new gym and . He was talking about TV preventing such behavior as family activities, games, household tasks and other activities that build The Herriman Lions Club held their anniversary dinner at the Lions Community Center. after-dinnAn musical program was presented by Ralph Brown, Draper. A highlight of the evening was the burning of the received at Jordan High School, Prin. G. Reed Sanderson announced today. . The trophy, awarded for honors won by Bringhurst in the 1960 Fisher Body Craftsman's Guild model car competition, will be formally presented at the annual awards banquet. Bringhurst, a senior at Jordan, living in Midvale, won the senior division first place state award for Utah and received $150. He also won the top regional honors for Colorado, Kansas, and Utah, and received an expense-fre- e trip to the Craftsman's Guild national convention in Detroit. ; -- 10 years aso... A Midvale league leaders took a setback Monday night. Lido Tavern won four from Bud's Mobil Service to move within two games of the leaders. Paramount won four from Joe Ruby's to stay in a tie with Lido. P & D Cafe won three from Bern's to gain a tie with Bud's, and Welch Planing Mill won four from Liberty Tavern. Individual high three games were Skip Landers, 577; Roland Roller, 574; and Frank Kamnikar, . Before the end of the week Jen-so- n expects to have the gym ready for use, though much work remains on other parts of the building. When the ring is installed and the steel bleachers rolled into place the gym will accommodate about 700 persons at a boxing match. , "v ' - . Bingham Canyon elected Peter Dimas mayor Tuesday with 18 votes. Elected councilmen were Gail Farnsworth with 17 and Evelyn Fontana with 18. C. will begin Nov. 26. . Santa has established an office in the recreation department and will answer letters from the Salt Lake County children. Children are asked to address their letters to "Special Delivery Santa" co Salt Lake County Recreation Department, 3383 S. 300 E., Salt Lake County, Utah 84115. Letters must be accompanied by a stamped envelope, and must be postmarked no later than Dec. 12, or deposited in Santa's mailbox at McDonald's touants throughout Salt Lake County. !'. ." i.a! n self-address-ed ft r . Depart- ment's "Special Delivery Santo" program Henry Hazlitt: an economist, author, lecturer and former . columnist for NEWSWEEK. His latest' book is "the Inflation Crisis: and How to Resolve it" (Arlington House $8.95) The immediate result was that the member banks raised their prime rate to borrowers from 13& to 14 percent, and that the stock 561-821- 9. 255-220- The Federal Reserve Board is to be congratulated on its new display of courage. It is acting in the right direction. But two considerations remain to be pointed out. If consumer prices continue to rise at a rate of around 13 percent a year, even a nominal borrowing rate of 14M percent translates into a real interest rate of a little more than 1 percent hardly a rate to choke off expansion of credit. And if Congress and the President continue to run huge budget deficits, the monetary authorities will be forced to resume inflationary expansion to pay for them. . new . To raise money for equipment, supplies and the building up of the association, the West Jordan Fire Fighters have a Santa for hireThere is a price range for each visit. market took a violent plunge downward, resources in our nation's history to develop America's own alternative sources of fuel." He spelled this out the next day as "an investment of $140 billion for American energy security," and casually threw in $60 billion more for improving mass transit and cars. In some unspecified way, this was to be spread over the next decade. So much for any hopes of a future budget balan- .. Since that January estimate was made, of course, Mr Carter has proposed, in his television speech of July 15, "the most massive peacetime commitment of funds and Sun Valley this winter: They expect to make a tour of the southern states fulfilling engagements c"owcnco The Draper City Council voted recently to give the volunteer EMTs $5 per shift. The money will cover gas and uniform costs. 1962. Lamb Brothers." Eudora and Peter will feature adagio and exhibition dances at .'. The West Jordan Fire Fighters' Association is in the process of finishing the interior portion of the new fire station under construction in the Industrial Park. Volunteer help is needed to complete the project. People with skills in plumbing, electrical, dry wall, tile, floor covering and cabinet installation work are needed. Those wishing to volunteer for the community project are encouraged to contact the fire station at for more information. t" Peter Rasmussen and his sister, Eudora, will leave shortly after Thanksgiving for Sun Valley, Ida., where they have an engagement as entertainers for the winter season. Pete has been appearing there this summer as a member of the famous dancing team, "The " Cents hc'ps reiso money If anyone wants to take consolation from the fact that this estimated deficit was at least lower than that for 1980, he should keep in mind that it was to be achieved only by collecting still more taxes from the American people. Expenditures were planned to rise from $532 billion in 1980 to $615 billion in fiscal 40 years ago.. 2 Page Still, there's a bright note in the world of children's TV. J T Redwood Inn sponsors dinner Chris Ridakis, owner of the Redwood Inn at 7777 S. Redwood Rd., sponsored his annual Thanksgiving dinner Nov. 22. Shut-in- s and handicaps are served a free turkey dinner with all the trimmings from noon to 4 p.m. in the annual event. Council to elect officers New committee members will be elected at a mass meeting to be held Nov. 27 at 8 p.m. The announcement was made by Harry Rudd, chairman of the Little Cottonwood Creek Valley Community Council. Other business to be conducted at the Oakdale Elementary School will be changing boundaries, and a discussion on the 2000 E. commercial development. . Several groups, such as the PTA and Action for Children's Television an organization of concerned mothers started throwing their wrath around several years ago. They protested needless sex, violence, excessive commercials and mindless plots on children's TV. , y; ;.t. Things may be changing. Instead of a lot of d movement and headbashing, an ABC executive says his network is featuring shows that have people helping each other, that convey the need for respecting themselves and others and respect for property. fast-pace- ABC Vice President Squire Rushnell says, for instance, that in the old days of six years ago, a cartoon character would run through a museum and comically knock over nine or ten priceless statues. "Today j that would never happen," he said. The networks are moving to new fields weekend and afternoon specials on young nutrition and people's problem-solvinhealth information; and programs ABC says are aimed at encouraging reading. " g, Parents should be their children's "TV Guide." That could mean turning the set off and pushing the kids out in the sunshine; sending the kids to bed or Rationing" TV time to the children. Rationing? Yes. That means giving them a certain number of hours each week to be "spent" as the child chooses, with the parents' consent. TV allowance of a ' TV could then be a threat to it. of learning, not a part ' Gsrbssoday SANDY Garbage day remains the same on Thanksgiving, it was reported by Ideal Waste Company. Cities involved are Sandy, Draper, and Bluffdale. KiSdvale winter parkins ban set Starting on Dec. 1, the Midvale City police department will begin issuing citations to individuals who leave their automobiles parked on the street between the hours of 1 and 6 a.m. The parking ban will continue until the first of March. According to police chief, Louis Smith, motorists are allowed to park on the street for only three minutes to unload passengers or 15 for property, otherwise all cars must be moved off the roadway, ' ..." i Church opens doors West Jordan Baptist Church members moved into their new building Sunday. Still without heat they worshipped at the 7681 S. 2200 W. site. The congregation anticipates further improvements, and invite the public to worship with them. For further information on church ac' tivities call Pastor John Blake, 566-658- 6. Clessed decrement bazssr SANDY - The Ladies Guild of the Blessed Sacrament Catholic Church is holding an annual Christmas bazaar and champagne luncheon Dec. 1. The event will be at the Four Seasons room in the Hilton Inn. Cindy Barker, president of the guild, will introduce the John Wesley Bell Ringers and the Suzuki children violinists. Prizes will be given away. Kathy Williams, secretary, will introduce the new guild officers and the pastor, Rev. Robert Pollack. - |