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Show Pare THE WESTERN MINERAL SURVEY 4 Mutual Security Program Is An Investment In Continued Peace Mining No governmental program in American history has been more in our national interest, yet probably less understood for what it is and why it is essential, than our Mutual Security program. Instead or viewing it incorrectly as something we do for others it must be seen and understood in the light of what and others we are doing for our mutual good through common action for common defense and well being. The objective is not only to deter aggression but to wage peace actively, based on the recognition that relatively modest expenditures today will save untold costs in human life and expenditures tomorrow. It consists of two distinct elements, each of which is designed to meet a particular threat to our national security and each of which must be continued if that security is to be preserved. It consists of two distinct elements, each of which is designed to meet a particular threat to our national security and each of which must be continued if that security is to be preserved. I. Defense Assistance Since this aspect of the program is an integral part of our defense system, the President has requested own world-wid- e that it be separated from economic assistance and in the future be handled as part of the Defense Department's budget A. Direct .Military Assistance The actual guns, tanks, planes and ships which we put into the hands of our 42 allies. B. Defense Support To maintain troops, transportation and communications for military forces of the underdeveloped nations among our allies. Our allies contribute their manpower, their bases, and most of the resources needed to equip and support their forces. In the last seven years they have contributed together four times as much as we have contributed in defense assistance. (As a rough indication of saving, it costs $7,700 to maintain an American serviceman abroad without weapons, whereas is costs $785 per man in Mutual Security funds to help maintain an allied serviceman abroad, armed and equipped). II. Development Assistance The economic development of other independent nations is whose yearly vital to America. If more than a billion people cannot associate their recently income averages $100 or less obtained political freedom with economic growth, then freedom will be on its way out. Economic development of those areas, moreover, is vital to mutually advantageous trade and investment, and to the availability of basic resources. Despite the magnitude of the overall task, our assistance is limited to those marginal amounts which will provide the economic momentum essential to "get these countries off the ground." To do this economically and efficiently the Mutual Security Program includes: A. A Development Loan Fund. A new concept of U.S. assistance based on providing loans to establish a sound business relationship for increased production. As the local output rises and the people can both save and invest more from their own resources, these countries will offer more opportunities for private investment and government loans should decline. loans, To insure the continuity, so essential to long-terthe President has requested only the initial working capital, with authority to borrow from the Treasury, if necessary, up to $750 million more in both fiscal 59 and 60. This procedure has been successfully used to capitalize other U.S. lending agencies. Without the assurance of available funds for a sustained period, the planning of economic development is impossible. B. Technical Cooperation. A proven technique for helping . m URANIUM QUOTES Jane 19, 19S7 Approx. Bid ON LISBON URAN CO I REXALL Approx. Bid Asked Spencer Standard Sterling Strategic Ut. Sunburst Sundown Pet. Sun. Uran. Swastika Mt. Temple Thnderblt U Trans West Uintah Wyo. U-K- an O&M Ula U.N. Beryl va .00 Vi .81 .01 .00 .00 .03 .05 15 .00 .00 .00 .02 .05 .05 .00 .00 .01 Upetco .06 Uran. King Ur. Mines Inc .03 U. 8. Pete .14 .02 U.8. Uran. Utah-Id- a Exp. .01 .11 Utah West Walters White lock White Can. Wyoming Yellow Cat Yellow Clr. York Ur. .00 .00 .92 January, 1955, Production totaled 96,855 tons in May, of which industry took only 59,989 tons. A record 27,615 tons was purchased by the government for stockpiling . . . The agriculture department reported entering into barter contracts for nearly $21,000,-00- 0 worth of zinc in April. This indicated 74,000 tons, compared with barter deals for 8750 tons of lead. Could this be the reason for the departments suspension and subsequent tightening of its barter program? . . . More zinc mine closings in Utah and in Arkansas with management blaming .41 .00 .07 .00 .00 .09 .01 CROMER BROKERAGE CO. Suite TWX SU-1- 80 3-- 4 Salt Lake Stock Exchange Building. 39 Exckange Place Salt Lake City, Utah Telephone EL Thursday, Jana 29, Listed Stacks Banner Mining Big Hill Bonansa Oil Sc Mng. Eureka Bullion 1957 Eureka Lilly Cone. .. Eureka Mines Eureka Standard Gold Chain Grand Deposit Great Western Horn Silver Intermtn. Pete Inc. .. . Cardiff Central Std Kennebec Keystone Leonora Little May Majestic Oil St Mng. Mammoth Miller Hill Mono Kearsarge Chief Cons Chief Cons. Pfd Chief Cons. Warrants Colb. Rexall Moscow Commonwealth Lead Comstock Uran. dc Oil. Cons. Eureka Crescent Eagle Oil ... Croff Oil Crown Point Dragon E. Crown Point East Standard Corp. . East Tintic Coaln Mt. States Dev Mountain View Nalldrlver Nev.Tah. Oil St Mng. New Park New Quincy ... people to help themselves through training in better health, education, transportation, agriculture, mining and industry. C. Special assistance,....To provide outright grants for to emergencies such as famines, floods and earthquakes or meet unexpected political and economic conditions D. Multilateral Programs. Our share of the contributions in such joint projects as Atoms for Peace, UNICEF, U.N. technical assistance, malaria eradication, refugee programs, etc. Through such programs we not only demonstrate our support for the United Nations and our concern to work with others on the problems affecting all mankind, but we multiply by many times the effectiveness of our contributions by encouraging matching contributions from member nations. III. Public Support. During the past year, an intensive study of this subject It is also revealing that five nation by the executive branch of the government, both houses of demCongress and special groups of qualified persons, has onstrated an unusual consensus of opinion both as to the importance of the program and the way it should be administered. This program reflects their conclusions. It is also revealing that five nationwide surveys by the National Opinion Research Center at the University of Chicago in 1956 reported: Ninety per. cent favored continuation of economic aid to allied nations; Over 90 percent of those voted for Eisenhower and over 90 unper cent of those who voted for Stevenson favored aid for derdeveloped areas; Eighty-fivper cent approved assistance to underdeveloped nations; Seventy-onper cent expressed belief that economic aid to friendly countries is more important than military aid. Distribution of Mutual Security Funds The Presidents budget request to the Congress for Fiscal 1958 is 71.8 billion. Of this amount only 5 per cent or $3,865 is for the Mutual Security Program. (In billions of dollars) I. Military Assistance e e A. B. Direct Military Assistance (Military equipment & Service) Defense Support Total for Military Assistance: (72 of total request) : North Idly No. Standard Park Bingham Park city Cons Park Konold Park Nelson Park Premier Pluto Uran. Corp Plutus Prince Cons Prosper Oil St Mng. Rico Argintlne Royston Coaln $2,800 Silver King West Silver Shield Silver Standard Sioux Mines So. iron Blossom South Standard Sundance Oil Swansea Cons Tar Baby Tintlc Central Tintlc Lead Tintlc Standard n Oil . . . . United Park City Utah-Idah- o Bug. Com. Trans-Unio- Utah Cons.-Utah-Idah- Bug. Pfd. Utah Wyo. Cons. Oil Victor Con a Western Alloys West Toledo Wilbert Willis ton Basin Oil Yankee Cons. Zuma Ur. & Oil $ 500 152 Technical Cooperation C. Special Assistance (Direct grants & emergencies) D. Multilateral Programs (Our share of the contributions in such joint projects as atoms for peace, malaria eradication, refugee $ programs, etc Assistance: Total for Economic , TOTAL REQUEST: .. at .09 3000 at .20; 2000 at .20; 2000 500 at .20; at .20 Bui. Moo 500 at .30 Col Rex. 1500 at .45; 100 at .46;2000 at .45; 9000 at .44; 110 at .42; 2000 at .45; 9000 at .44; 110 at .42; 2000 at .45; 6000 at .45; 4000 at .45; 1000 at .44; 3500 at .44 1000 at .44 Chief Cons. Pfd. 1000 at .45 Croff 1000 at .08; 500 at .08 Grand Deposit 1000 at .01 International Pet. 1000 at .15 Nev-Ta- h 2000 at .U;3000 at .11; 10,000 at .11; 2000 at .11 Park Bingham 1000 at .02 Park Konold 7000 at .03 811ver Standard 3000 at .03 Sundance 8000 at .19; 3000 at .19; 1000 at .19; 1000 at .19 Tintlc Standard 100 at .80 Zuma 2000 at .05 Bonansa 1000 Br. Silver Sales Curb Sales Banner 200 at 8.50 Col. Rex. 28.000 at .45; 10,000 15.000 at .44; 3000 at .44; 2000 400 at .44; 300 at .44 Comstock 1000 at .19 Tah 1000 at .11 Park Konold 3000 at .03 Silver Std. 1500 at .03 Tar Baby 500 at .19; 1000 at at at .44; .45: Nev. .20 DENVER Uranium Stocks uranium and listed as shippers to the Atomic Energy Commission and companies which, while not listed as shippers by AEC, have an income In other mineral fields Wednesday, B. . loose $1 900 Development Loan Fund (A new element in the Mutual Security Program to provide loans rather than outright grants on a revolving basis.) Total for Development. Loans: . The following list of uranium stocks are of companies currently producin' $1,900 II. Economic Assistance Ailed .96 .44 Salt Lake Stock Exchange ZINC stocks were reported at tons the highest since and .00 .86 .02 .00 .00 .04 .06 .18 .01 .00 .00 .03 .07 .06 .00 .01 .02 .07 .04 .16 03 .02 13 .00 ,01 1957 112,775 A. REPORT Hi-lit- es Friday, June 21, $ 300 $ 565 $3,965 NOTE: More than 75 of this money will be spent in, the in agriculture, United States. More than 600,000 existing attributable to this proindustry, transportation and mining are billion in agricultural surgram. During the last two years $ 1.5 plus were utilized in the Mutual Security Program. Jane 19, 1957 |