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Show lune The Salt Lake Tribune. Tuesday, Teach Yoxir Child to Read SHORT CUTS TO By. When you ado y to to warn si the tippy boat THE END OF A WORD AS A SUFFIX. 6ENERALLY 6, The AND y usually FAORE NAWI. UNLESS IN CONSONANTS & XT ARE TWO OR THERE BETWEE When you want to keep the vowel sound short, YOU USUALLY DOU8LE A SIN6Uf, FINAL CONSONANT BewreadoIne y, as in funny. i Business Outlook To SaveDollar, U.S. Must Get in Step on Interest System has nudged short-terinterest rates up and held longPulitzer term interest rates down. Thus, Business Writer long-tercorporate bonds yield No finer description exists of about 44 to 4 per cent. This, todays monetary discord in the presumably, encourages corpoWestern world than Irving Berl- rations to borrow to expand. Seek Best Return in's-! amous World War I But m the industrial nations s d n g , They pf the Western world, interest Are All Out of Tates are about six to seven per Step ButJim." cent. This tends to pull funds And the United States, alas, is $ away from 'the United States. Jim. the Money investments seek best return The new of economics On theother hand, if Treasury President Johnbills and certificates of deposit, sons Great So about four per cent, foreignLivingston pay ciety calls for ers will keep short-termoney low interest rates. Let s not here for interest and safety. If throttle down prosperity with the rate sinks too low, if its unreined-icredit. The Federal attractive, foreign funds gold Reserve Board has danced the will be withdrawn. twist accoidingly. Rejected Thesis Valiantly, .first under Presw dent Kennedy and now under Just before he retired as secPresident Johnson, the Reserve retary of the Treasury, Douglas Dillon rejected the thesis that By J. A Livingston PUTTING ON THE BRAKES Prize-Winnin- g As industriol production,soors to new high, Federol Reserve Boord tightens bank Reserves. Will59-6repeat? 0 U.S. ordinarily ".btiBasm, OF mo '.WMihJtUl ;ssBS3mm share in American Industry Hamilton Funds, Inc isacommon-stoc- k mutual fund which owns securities in over 100 American corporations, selected for potential income and growth possibilities For a free prospe- . . . will Ipt you own a describing ctus-booklet Hamilton Funds, simply mail the coupon below No obligation, of course. A Hamilton P0 Box 5061 Dner Colorado INDUSTBIAI I X PRODUCTION A) tish gold and foreign exchange was so extensive that the Bank of England had to jump its rate to seven per cent andt the central banks of the world and the International Monetary Fund had lo raise about three billion dollars to save the pound from devaluation. Send Hamilton Funds prospectus booklet wire-housem- Amaric-ioavin- die your moving-o- b safely and economically Call him for a FREE f 21 Now York Jan CaroniaW $2 195 00 Hadley-Nlayflow- er " INDUSTRIAL I960 1959 1958 Source Federol Reserve 1961 1962 1964 963 Board J A Call us for ALL Ul u types of leasing equipment -- iialiU littniN 449 SO. MAIN -- 364-641- 1 it stance. For the first time since early I960, banks have a persisting deficiency m reserves. Their freedom to lend is being reined in (see chart). Question: Reserve Board, and Gardner Will tighter credit throttle Ackley, chairman of the Pres- down prosperity? Martin makes the point that idents Council of Economic Advisers. the United States can no more be isolationist on interest rates Truman Struggle than .on foreign policy. Infera White ence: If we cant .Back in 1950-5persuade De e Board struggle Gaulle. Erhard and others to took place. President Truman and Secretary of Treasury John W. Snyder insisted that the Reserve Board support 2 Vi per cent government bonds at par In the words of former Reserve Board Chairman UVlarriner Ec cle, this converted the Reserve System into an engine of inflation It monetized debt. Pending reductions m the Federal ExUltimately, under Thomas B the Reserve Board McCabe, cise Tax on new cars will be made It refused to said Enough available to you as soon as the Conmaintain the price of governments at par. Accord was gress acts. reached and, lo and behold, A refund will be made on any new Martin, who was then assistant secretary of the Treasury, was car you purchase between May 15 and named chairman of the Reserve Board, succeeding McJuly 1. developing. Let us hope it does conflict benot lead to head-otween William McChesney Martin Jr., chairman of the Federal n House-Reserv- historically high, Dillon said, higher than it has been in centuries There js no reason to expect thatIt it is the pioper level or that will SPECIAL KATES Oil 1S65 OLDSMILES NEW CAR BUYERS TO GET TAX REFUND In passing the Treasury flag on to Henry H Fowler. Dillon expressed the hope that the rest of the world get in step with history, that European rates would come down Committed 'Abroad But economic and political decisions are more often made by political leaders, such as President de Gaulle of France and Chancellor Ludwig Erhard Cabe. of West Germany, than by hisSees Parallel torians. And politicians abroad are today committed to high inAs Martin looks back, The terest rates. persistent pressure of govern- If Western Europe's interest ment bonds was, for the remain high to curb infla-- eral Reserve Svstem, like be tion, can ours possibly stay ing at the foot of Niagara down to encourage economic ex- Falls That's whv the Reserve Board pansion here? The answer may be already has been changing its monetary 1 Average refund will amount imately to approx- Olds. 98 Olds. Olds. With Air Cond. From Wagon F-- 85 From. Five-yea- r DEALERS ASSOCIATION Savings Growth at Various Rates - It will pay you to go a little further to earn more. Open your account by nail, -- - i Par Month Length of time and terms of lease tailored to meet the demands of business or personal use. the chart and see what you can be earningTBring your savings to STATE! V 60" $rOSO From N fatter account because of the higher rate to 3 higher. Pmr 95 Month mwBmwmm details. AUTOMOBILE Qualified, Responsible individuals and selected companies V $67 50. 'Your New Car Dealer has complete UTAH To 16 E 7 30 965 SAVE BY THE 10TH-EA- RN FROM THE 1st II 521-34- I vinos" Look at FURNITURE tor fftff fstfmat kef'rffTrYf At STATE SAVINGS you can bank on a MACHINERY-EQUIPME- NT local will faster at STATE! S COSTS' Your Savings grow CARS-TRUCK- CUTfflVp Phone and -- hereshoujb) South Amori- cAfrica Asu Australia North' Insurance Company rates are not the same. FOR EXAMPit: NOW LEASING , -- y S CONTINENTS Use the Daily Want Ads AH Life of CRUISE 1966 WOfllD unds 80217 the city fo the Corporation minimum continue JUST status of the sale is and to fer- ret out as many details as possl . ble. , The 'golf course was sold by , PreParatlons-ge- t in step with us, we may haveiCOrnmoncemPnt another takps wntlng to get m step with them. JleMer to the BYU board of trus- This must be done anticipajeeSi we'll do that, too, Mr. torily. We cant wait until crisis Christensen said. He said he hoped to arrafige is upon us as did the British in November. The dram on Bri- talks to find out just what the doyt must ascend to those of Europe and Japan. The level of interest rates In Europe is extra- INVESTMENT City Again Seeks Talks With LDS on Golf Site S S interest rates long-ter- I 750 n AN 33 the President of the Church or Jesus Christ of Latter-daSaintsTiT January, 1959, for $56V -680. The course was listed by its ' new owners as a possible site for a junior college. Since 4he sale, the city has leased the nine-hol-e course from appointment BYU for $4,500 a year. He said he was unable to n&ke such an appointment last w?k because of the schools HELPS THE VOWEL AHEAD I AS IN . V City officials will try once more Tuesday to make an appointment to discuss a hoped-fo- r repurchase of Forest Dale Qolf Cojjfse from Brigham Young University. Parks Commissioner Joe L. Christensen Monday said he still has been unable to contact Dr. Ernest L. Wilkinson, president of the university, to set up an ACTS LIKE A VOWEL YOU CAN TEACH YOUR CHILD ' - HSAY ITS OWN II SOUNDS; LIKE LONG tiny. Joan Beck 1, 1963 ... v' |