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Show V;stAS.J6 11.-- ' 1104 'a . 1st' !' e..,,- -.,,c, ,Ali'er!AIDIASO' Re...',, z,,,,,,Art F. i 111 ..,e- it r . I 4 ? 3 ...No (Lnla (MTI17115717)) ,,,,; (nAcrfil ;.:4 ot .;;' , ':;, 1 :,,, .';',,:i'.( .., "...oar. : , We stand for the Constitut;on of the United Shies with its three depoements of emh government, fully incloperknt ir its own lieki L hi ill - - 4- 4ont ;.:.471 rHti 7 10. 1.'4 train oil plaj s. it place, pi irrary restraint. self-d- i sciplloc and s:leritice- - by Americans. That is. en a willingness to temporarily ,ubor on s.eri et ha ton. Al ; E" Acent economic sumtii it. economic minds foremost the many produ.."ed little but argument and Previous administra elporiotietion lions hopped futilely from one policy to another, so hardly any remedy can be proposed that has not already been tried and failed. The mix of economic measures the President has se;etied e soh-iadvocates and some detractors But it may well be as important that one plan receive the determined support povornment and public as that it be the best one possible. Nmericans have a wide diversity of goals for themselves and their country. But most of those goals rest on the assumption of continued affluence. Putting the economy hack in good a of anti-inflati- t :t mmo ft ...f tt.1 :: 17,4 t4;, 4 , ,,,,,, ,, , 4,,a 1: t,-- -- . wage-contr- -- tch fr, ,114 4...1,-,,,- c -- . ;',',, '".2,,,;,:f,' f-1-.- ,'',' ; bN' ' ',,'',.',';, , ; : No, -- - ', ''''i lir '''' .41, 4 I) ;1;a4,,' ' , tk, L'Il '" ' ' ''' ' ' p.,,,..:', ' '' ' . ': , '.' , ji .;,:7, ., 1 ''' 4 f I V '; . :t''i''t''''' :I:4017 , s- - .i I ,- , ' ,;.r4".1"1"...".411e".1 i, '.i. , , , . ,.. . N,......- -..- Al 1176,me.,.--- , L ', i (', ,,I , itl,c-z- 1 c . " :'-- CA" ,' r.1-,- ,''k 1 't 11 i , - ,''' .."....-..--- - c Did you "I'm lea.ing you! r'iil Wnil PIN will" hear me?! I'm going! I r'6111, B " 4 4 &Urge - . win This city 'an cone with at most one idea at a time. As a result, its preoccupations are intense and brief, and ideas freighted vith danger and urgency have an advantage in attracting attention. That is why the banners of alarm and pessimism never lack for bearers here. and why it is only prudent to he a bit skeptical about whatever perceived danger is preoccupying Washington at any moment. Washington' a current idea is: "We can not live with today's high oil prices." The theory is that today's high prices are intolerable because they are quickly destroying the economies of the industrialized nations. The Organization of Petroleum Exporting Countries, which at least quadrupled prices last year, must lower prices or there will be national "bankruptcies." The theory is that if current price and consumption levels are maintained, the OPEC nations will soon own the rest of the world. These prices will bring about a transfer of up to $600 billion (a sum equal to the present value of all companies listed on the New York Stock Exchange) from the oil consuming nations to the oil exporting nations by the early 1980s. But long before that hapor so the theory goes pens the system of international finance will collapse, mug, perhaps, in Italy and roliing over Europe and leap-ju- g to the U.S. through bank apocalypse is nmning though some political and financial circles hor. like a devouring flame. We shall soon know if it is sensible because we are going to live with high oil prices. for twii reasons. The OPEC nations have their differences about how high their priees should go, and how fast. But they like the high prices because, perverse though it may seem to Americans, they like making a lot of money. And the U.S. government wants high prices or. domestic oil much higher than they were a beca naz. the ago yval goverrenen ;. know- that high prices are reasonable to the extent that they are in line with the cost of producing new- - domestic oil or alternative energy sources. -- -- When Sheikh Yamarg of 118-- a- And some U.S. experts think $8 is not high enough. In this regard. if you are looking some fascinating reading, send to Congress for the report of thp Ad 14ne Committee on the Domestic and International Monetary Effect of Energy and Other Natural Resource Pricing. This report warns that the oil exporting nations may keep the price just slightly below 810, in which case a program to entirely eliminate imports through subsidies to U.S. producers could reach the enormous annual cost of V22- weekend 228-pa- 34 billion in 1985. to put it politely, '.olikely that we will eliminate imports. Indeed, it is far tioni obvious Coat we will or should want to hold imports to less than a quarter of our total oil consumption during the next decade. In any ease, we will be using eight-dolloil. It is, Saudi Arabia is optimistic, which is not often these days,' lie seei7is to feel that with patience, skill, a lot of luck, and no more bluster from So this is where we stand.: Messrs. Ford, Simon and Kissinger, OPEC might, in T:iday's Washington idea is the fullness of timc.,, reduce that existing oil prices, which the price of oil $1 a barrel. are quadruple last year's This would save the importprices, mean the quick smasli-u- p of industrial civiling nations $12 billion a year. reduction ization. But a would not significantly alYet there is no reason to leviate the sense of foreboddoubt that from now on oil ing among those who say will cost us, at a minimum, more than triple what it cost today's prices mean disaster; last year. These people should ansWith that in mind, it is wer this direct question.' What is a reasonable price? prudent to remember that the This is the salient question people carrying the banners because. as Yamani and his of alarm and pessimism ocless moderate OPEC colcasionally have the right leagues surely know, many idea. ar one-doll- Who talks Greenspan? hi Jarries,J, - Kilpatrick Something will have to be done about Alan Greenspan. If the president's chief economic adviser is to appear in public, the White House may have to provide a trAnslator to stand at his side. Sad to say, the gentleman Speaks no English, and most of the rest of us speak no Greenspan. These observations are prompted by a transcript that came in the mail the other day. This is a report of the proceedings of the Financial Conference on Inflation. held here on Sept, 20, Greenspan made the opening address He remarked that our system cannot indefinitely withstand the effects ci double Jigit inflation. Then he said: -- extrapolate the strains that we now already ee as s censenuenee of what we have for an extended the rEseim r.4 tiuys efonoroical, finare If you cial, structural begin to break down because they are essentially constructed or have been developed over the decades in the context of low, sit,gle-dig-it inflation, arid it's by no means clear or had not been clear, I should say, how significant this element was until we actually have tested it and having tested it, we found that it does not respond terribly well I don't "Clearly. we see have to go through examples, I'm sure thati.all of you are most familiar with all of the various problems that each and every institution is having, but that clearly the savings and loans are under extraordinary pressure; insurance companies, lrnks, business especially smaller business were having difficulty getting financing. "The system clearly does not work well under these years ago, Rudolf Fiesch propounded a formula for determining ease in The formula proreading. vides a fog index E5 t easy. pz ,itandard. 41 is diffkXt, ar 15 is in4,,enetreble. To Some judge from this passage from Greenspan, the gentleman scores 13.6. If you don't count that short third senterke, he comes in at minus 8.4. Better he. should speak Swahili. Now. granted, the subject does not lend itself to baby talk: "I see inflation. Inflation sees me." Flesch's famous fog index has limited applicacion. All the same, the people have a right to expect some reasonable level of clarity in public discussion of the fix we arc in. Before long, we will be hearing proposals to impose higher taxes on industries and individuals. Wisconsin's Sen. William Proxmire already is homing in on steel. It wool he pleaant to hear such proposals defended in language we can understand. Why is ikailally Letter, or economi,(iii'Y better, for the government to spend an additional $5,000 taken from a wealthy taxpayer, than it is for the taxpayer to spend the 85.000 himself? How is the steel industry to build new plants if steel companies are denied high These gid4 notions ought tc he discussedtin English. 1 will!" r U.S. energy officials accept the fact that the price, of oue domestic crude should be at leasi. as high as the barrel average in order to provide the incentive for new exploration and development of alternative sources. for I someday ART BUCHWALD prirPcz ruin failures. Some sober people in this city believe this rolling disaster is coming in a mat-o- f .aolitlis, not years, and all liecause, "We can not live with today's high oil prices." Well really am! e world's economy? WASHINGTON . ski , 4 , I (Co .. , - 44 IweI'll' 13113 ; , r ,v. , r.:,;,'' I 1..,, de, , ,, :, t, 71. I 4.----- " ...,.. , 1' '0 ' ElISRGI , - ,... ) ,,,-'--- it ....Ai, - 1 , ,, r i ,,' , 44 L 4" , a k;:,. 4 'l , , , r 00 :;,,,,,ifr'itot, 4' I. I0 ,',',;,;. ,',' k 4,;i: t '10 . 1; , rt f - )...),0 ,,,7 ,K.:k.:. ;Prrf '' ' 7--K- --g iliN ...... 111 This anticipation of problems others fat C. the sacrifices confrontirig Americans are minor. But a foolish refusal to act together now will at least prolong hard times.. and worst imperil the prosperity Americans take too much for granted. f , ,It c..:3... a 11 1i ,t,i4.4-41.or- ; 1,1ititiA Cfirn pa ryd to the Labor advocates voluntary restraint by Britain's powerful unions coupled with nationalization of some businesses and a "fundamental and nation since World War shift in the balance of irreversible 20 of Continuing inflation nearly in favor-owealth and working power percent has wracked the economy Labor would by Victory of people." the rule, and threatens . to Britain far the left plunge The Conservatives and Labor, Bria are the picture Complicating tain's two major parties, offer differ- number of minor flarties. The Liberal ing solutions to the problem, but no Party has not been a serious contenone has great faith that any of the der for power for decades, but hopes solutions can work. to mend its fortunes during the Conservatives advocate restricting troubles. Scottish and Welsh nationalthe growth of the money supply, ist parties want greater autonomy for their regions though they disagree among themselves CM the degree of restriction. lOritain's deirieeratic institutions Tight money could mean business are among the oldest in the world, and failures and unemployment. her people are famed for their civility. idenIf continued. rampant inflation can also are Conservatives The tified with a policy of mandatory wage threaten government there, it can controls. Six months ago, strikes in peril government-- ; anywhere, includlaw ing her?. defiance of their at to It saddens us to see the "Mother an call them election, provoked which the voters (..À.;;.eil them in favor Country" in fil;CIA strEtits. We can ,wily and her well. of Lai.ior. ' if 1 ,,,. I well-to-d- o On Oct. 10, the British will go to the Polls in the midst of what all parties agree is the gravest crisis to beset en e ; 'I' ,,,..4.4,.....4, ''. Britain is in trouble ,, ,,,,,le,,' Besides balancing the budget, government should stimulate lower prices t) suspending some regulatious on industry. This page has consistently in ged passage and enforcement of strong environmental regulations. Reluctantly. we ntex behold, Congress should postpone of ease some environ- d ,. ! Tit In many was, the Supreme Penologists argue violently about Court's task is comparable to that of how effective punishment actually is Hercules in attempting to ski:: the in deterring crime. Yet the rising crime rate indicates that the wave of Hydra. As soon as one case is "settled," it rehabilitation efforts has had no more crops up again for interpretation. effect than the harsh punishment Such an example, as the court returns concepts that were replaced. from summer recess this week, is its In addition. Americans are turned ruling on the death penally. cif by the small percentage of crimiThe court ruled, more than two nals actually brought to justice. A years ago, that thc &nth penalty, as study reported this year found that of then carried out was unconstitutional. the 5.995,200 crimes reported to the The court found it was "cruel and FBI in 1971, only 19 percent showed an unusual punishment" in violation of arrest was made: in only 17 percent the Mth and 14th Amendments. were charges brought, in 5 percent is The death penalty coming before were persons convicted as charged, once Court the Supreme again on a and in 0.9 percent were persons case arising in North Carolina, where convicted of lesser offenses. the state supreme court ruled that the That 'tdds up to only 5.9 percent of Supreme Court's decision invalidated the known cases of crime in which only that portion of North Carolina law was meted out that made the penalty optional with punishment More than half of the states already the jury. have death penalty clauses There is little doubt the pendulum in to be applied certain cases, in line appears to be swinging back toward with the latest Supreme Court manstricter punishment for criminals, on date the subject, particularly habitual offenders. That is evident from Attorney General If there is to be continuity in the William Saxbe's remarks on "Meet law, the Supreme Court decision this the Press" this week when he called time should be 'definitive enough so for more stringent enforcement that states may be able to build their offenders the own statutes in line with its ruling, and during against repeat five to seven years a criminal is will) some assurance that the court will not take a new view tomorrow. normally most active in crime. , ,4 1 , - .,,,,,,,, (), i ; ITR: no exeuse from politiians for ,4pending deficits while inflation CeMainS Unevitt Crime and the death penalty rnauly-heade- , it 1, ' Z.:rt --- 2,?2,,y,l9;;,'';''''4:.'.:.' ,;, , - --9,- I 1 '" ir' 'Ut , Gm eminent should insure the costs of controlling inflation are spread fairly over the whole nation. should not Surely the benefit at the expense of the poor. But the times call for each sector to think less about its relative share and more about the common danger. v X - 09 .,', a AN - --,,,, 7 Probabl:), there will be losses of real income. President Ford will ;:repose t.,:x increases to sop up demand. Heretofore. wage demands (vial to the cost of living increases havt been considered minimal. Until inflation is brought under control, wage increases should look more to productivity increases than to cost of ing indices. technical measures. . lor , , oust His skepticism is not without tounda- , ,,, '', mental requirements with milationary consequences. Implementation of new safely or health requirements that raise prices should ako dinate int(f74 14) .11,e go, d ot the economy as a whole. In evoking. noneconomic qualitie, to apply to the alAnomy, President Ford openly confes,ted some skepticism in the experts' ability to pre- : y-- Hect-v- t IIt stn.:, ,,,, - Government must lead. Citizens - '''''''''' "".. - : ! 1 .i ' I - 0 Allx ..'ioss11 the. system insures all benefitor so the theory goes. lin..!ht now, the theory isn't working so well. and the nation is in a seN ere ,wonomic President Ford has do ised a plan et.1 !ft tI lite situation Like other recent plans. it calls for a number of technical manipulations to he formed by govennrielJ. But unlike 1. Vol working ordei sliouid take preeederKe the u u. because econom ti1s. most Of them will be iiiafkOpiiicv is the Iladel fit 9nlightened Each Imirsues his own interest, and the I ' t Public support needed in inflation battle i ''' , Ji ii - t.-:-,- .4. Vifiti014,MOMF,BMWOM ,ffM,....nlyr .rzt-t's- r I, .i1 IMMOMINSIMMwm....wNIEIMENNI , 5 , A -- , rAsrkuT NEWS, TUESDAY, OCTOBER 8, 1974 A it --- 0- -T ,6:',,',..:,, I "11Mr10.11,...S. PI,Mr11Mak powato ,,, ibro:koi. Pr - A (;) Where are they now? tt4i: 4 Less than a year ago ever!one wits WASIIINGIoN hard at woik vowii.g to conserve fuel. Americans had pledged themselves to finding new ways of saving enetr; when it came and making the United States to oil. In the interests of finding out what has been done tta the past 12 months, I did a personal "Where Are The) 1 g, ' Now?" research project. This is what I found. C. Carruthers Ringold, chairman of the board. of General Chrysford. the largest manufacturer of aio, tomoblies, is still in poehleg the seles of lar:e N., cars. When he w as reminded he promised last fall that General Chrysford would devote its efforts to the proteetion of small cars that would ect consume so mud) gasoline, Ringold replieu, "No one is going to tell us wlfat kind of automobiles to make. The, profits are in the laege cars and that's what the public wants. When America wants small cars well make them. If it 'enietil, for the environmental nuts. there would be more than enough e oe gasoline for everybody.", Alan K. Lomitil, who was one of the first organizers of car poolieg in Fairfax County, Va., is now driving to work alone. "Car pooling is a drag," Alan told me. Who wants to talk to four other gays es ery morning I think a inail automobile is his castle and there is nci reason be shaidd , share it with anybody else.' Mrs. Helen Klinger, the principal of PS 145, said th4111 she no longer believed in keeping the thermostat in he'l - school down at 58. "We froze our tushies off last yeari',11 she told me. "and we dele" intend to do it agalneCongreel ought to investigate the oil and gas companies and find' out where the heat is really going. Heavens wsthe , ,, . schoola aren't getting any of Gaylord Prather, the advertising account executivi for Windfall of New Mexico Gasoline Co.. is still arnhis out copy, but the conservation campaign has abandoned: "Siece our business is selling gaaoline, IVS Sure:it 'counterproductive to ask eeople to use less Of didn't hurt last year to say we were woreiedabeut futuri fuel supplies and we were doing everythingte see thet America would never have to do withoutaut IT tell yot; one thine, the campaign didn't eell A rillon of gas.ii e ' anything, it scared people and Ittey didn't care wtit ssbrand of gasoline they bought. So we said hang it all 04 ' , company has to come first." led the 'who Gunther Zilch, light Rai. Congressman energy conservation last February, Is not sure whetbei he's for it now. "This is an election year77ilch told "and it's hardly the time to ask people to make sacrifieQe Heaven knows the voter has enough to ' worry abeta without asking him to give up the comforts Of home and the road." I went over to the Department of Transportation and spoke to one of the top officials "Last year you peopli said you were going to have a erfAZI program in maa (I e urban transportation so people would use trains again instead of private cars- - Are you i ahead with it?" He replied, "Yes, we're doing a idSdlg it right now and it should be ready by 1985.7 Prof. Heinrich Applebaum who last year that shale oil would solve all our problems for the next 5.00 years now has doubts about it. "That stuff is really hard,:: Applebaum said. ''t mean squeezing oil out of a rock lA, some stupid way of getting fuel. Anyone who thinks we!re going to solve our energy problems with shale oil in thie near future is off his rocker. I don't how why the piekka ee: takes peuple like me seriously." eLt 4, - , , ,: ':,rk -, x T. :! ! ; a I. 2 Se' ,7 - 4 be: I I I .1 1 I , I 4' tn-4- It' , 1 - te ' I I f )1 1 t ---- , DOUG SnEYD . . . ' TA XA riolv DEM ATMEtt , .' 1 1 ... r trY ; , i'iV,P.-c-L- , , 4, -..- ,-.. . ."--,- -, 4 i;Ai) , ' - ..., - ''r--- ;) L"it , - ,.......,",,,; ' 411U.,' ,V. -- , .; ,00,41;;;;;44.-41V16- . .1 '' .,e I :::,...., N'07,7 vp,..,.,ntitk iNse..,.,,,., , .',., . ,t,. , At C.--- I(' ' 1 -11 ,..4,79,,;;:,,---,,,,,,,v,,---,.--:-.:,,- 4.,, - " .t1 ' - - ., I 1:1442,22:3s 4 I - 1 , ,,, j ; .. "117L-j- c r,m cr'd An!,, -- 1 - v-- - st-r-n to oo ifanA hiP,ct. drwl 1 1 - 2 t,,':. i . .,.. . 1 'k:; ! ttley?" ... i ; ; lem. Celmg , - .1,.alp,,000mank......b.90131011111.m11" - , , , '411.4"tol;14.0449ki"ItiSPO |