Show i 2B THE OGDEN STANDARD-EXAMINE- R M S Eccles Appointed To American Assembly BUSINESS PAGE UTAH THURSDAY EVENING NOVEMBER 12 1959 OGDEN SALT LAKE CITY TAKING STOCK Mew Loan YULE SHOPPING HOUPvS LISTED BY MERCHANTS ft Xs Hurts axpayer OS'-- - w y f r By Cliff Thompson r--' III VSf later (if ever) concept in government financing The borrow-now-pa- y billion dollars in saddled U S taxpayers with more than one-hal- f additional debts in the past two months The taxpayers will receive nothing for this money It is the interest on some 10 billion dollars the U S Treasury has borrowed to pay off debts that were falling due of the transactions in this occurred earner’s share of the national tab financial merry-go-roun- d last September when the Treasury Possibly one reason the taxpayers borrowed about one billion dollars have permitted this debt to pile up notes and on four-yea- r is a lack of understanding about paying 5 per cent interest how the government’s fiscal operaShortly after the Treasury offered tion is being managed notes bearing 43i to trade one-yen charLet’s use that four-yea- r notes and interest cent per governhow acter John Doe and see paying '43 a per cent for 9 billion ment-by-credit works dollars worth of maturing notes wants to buy a Doe Mr say The Treasury also offered to trade $200 machine but has only the new notes for about 2 billion $100 washing on a piece of So he writes dollars worth of 4 per cent notes to "I pay you promise that come due in 1962 but which paper six in months” dollars (blank) can be cashed in at full value next He takes this to a fellow he knows February and says ‘‘If you gave me $10 for ON THE CUFF this piece of paper how much These debts were piled up pos- would you want back?” The man 3 so sibly many years ago for things says “2 2 per cent interest” in blank Doe writes the $1025 space the politicians thought' the people needed The fact there was no gives the man the paper and takes money in the treasury to pay the the $10 He does the same thing with' nine bill didn’t stop the borother people and has the other politicians The money was $100 needed to buy the washing marowed on Treasury notes When many of these notes fall chine Now during the following six due there still is no money to pay Mr Doe’s income would be months floated the bill So another loan is to notes that the with case enough permit him to pay back as was the the $100 plus the $250 interest came due recently WRITE MORE NOTES Any individual pursuing such a course of personal finance would be But just before the notes come considered unstable — at least— by due Doe decides he wants a $200 his fellowmen and financially unHis credit refrigerator So he sells 10 tomore sound by the banks the $10 notes adds the money would be cut off immediately— espeoff to the had he saved $100 pay cially for things that were not ab- first batch and buys -- the machine solutely essential When the first 10 notes fall due But the exponents of the to pay Doe doesn’t have the concept have been off So he sells more money to notes pay dollar-strew- n permitted to' continue their 10 that are due the way until the American peoNow Doe decides he wants a ple are collectively in debt some new automobile He doesn’t have 280 billion dollars but he does have a soluWhen this debt is finally paid— the money Sell notes tion and some day it must be— the He didn’t really need the car but money will have to come from us it’s so easy to ' " sell notes taxpayers Yoif can imagine what will hapTAXPAYER PAYS pen to Mr Doe if he doesn’t stop most federal The selling notes and start paying them government gets of its revenue from the wage earn- back Uncle Sam has been doing that ers—the 663 million employed peofor in the US years— only on an infinitely ple of workers larger scale The government has Divide the number come into the debt and you up with been borrowing billions not huneach as lika $4223 wage dreds something -- n IL New shopping hours for the Christmas season were announced today by members of the Chamber of Commerce retail merchants division Beginning Nov 23 stores will be open until 9 pm on Mondays and Fridays Beginning Dec 11 the stores will be open everv night until 9 pm except Dec 24 when they will close at 4 pm The annual Chamber of Commerce Christmas Parade will be held Nov 27 at 9 am The parade will include Santa Claus five major floats and the Ogden and Ben Lomond High School bands - j n "’! A— jMMCTi sL !- - 2 4 Jj tcL m a - i 1 A HV v Ul 'CI V - j6 v- At ill JU X a v Steel Aides Hold Policy Meeting I OPEN With a seating capacity of 300 this new Harman’s Cafe opened this week dollar eating place has parking for UO at 1412 Washington The quarter-millio' cars ! n th ar well-know- free-spendi- ! govern-ment-on-cre- dit Cafe Harman's New Growth Fast for Business Opens Forecast for Weber Area r A 171-ma- signed for family dining business men’s lunches and banquets It is surrounded by parking space for 110 cars Owner Leon W Harman said “we appreciate the opportunity of serving this community It is our DALLAS Tex — Ogden savings desire to maintain a restaurant the and loan leaders predicted here people of Ogden will always be conditions business that proud of” yesterday Mr Harman began his restaurant Elder area will in the Weber-Bo- x in Salt Lake City in 1941 career show even greater growth than the with a small hamburger stand In nation during the 1960s 1951 he renamed it Harman Cafe years and since has added two more all The prediction was made by J H The cafe capitalizes on the theme with a water wheel comparable in size to the new OgAndrews Federal Building and interior is modernly de- - den cafe motif The C Loan Assn president and R Duvall president of Ogden First Federal Savings and Loan Assn during the U S Savings and Loan League convention in Dallas “A study by Indiana University shows that by 1970 the annul income per U S household will be 25 per cent greater than now” Mr Adrews observed ‘‘In Utah anc particularly the Ogden-BrighaCity area we should equal or bet ter that growth with a substantia gain in employment” Mr Duvall predicted more new industrial plants will locate in this area in the near future accelerating the missile industry ? dollar The new quarter-millio- n Harman’s Cafe has opened at 1412 Washington Built on the banks of the old Mill Stream the cafe has seating facilities for 300 people Facilities include a counter area two large dining rooms and a take i home department and Lester ‘will be It managed by Ileene Rufer formerly of Ogden who have been managing Harman cafe’s in Salt Lake City for several Mill-strea- MOSCOW (UPI) — A Soviet navy will arrive in Jukarta squadron Nov 17 on a friendship visit to Indonesia the Soviet news agency Tass reported yesterday R00FIIIG MOSCOW 40-m- an (AP) — The Soviet government has issued a postage stamp urging the release of Manolis Glezos Greek World War II resistance leader serving a prison term for smuggling Communist spies into Greece The stamp depicting Glezos against a background of the Acropolis in Athens calls for ‘‘freedom to the hero of the Greek people Manolis Glezos” I 45-I- b Roll 55-l- b noli OO-l- Roll b 270 3Cj flG RID OR GREIN NAILS and TAR INCLUDID DOG FOOD GAINES 25 Frisltics 25 CUBES 59 Good-By- e FOR ALL WATER SOFTINUU 50 £ 73c 10041” Wheal 100 lb 30c HALIBUT SALMON Bargain Fish Lb pink Whole or holf sliced Halibut small cuts 49c RED Lb 39c Variety ef fresh unfrexen fish Many locker specials FREE and "' FARMERS FEED GO 2001 Wash Dial IX S Melons! 7®ra W7 IPVtlW'Wr'f'Mit -LigM Wonder County Styfe Bread Helps BeillS The Difference Is The Way It Is Mads " By The Wonder Expanded Cell faking Method r aa 'i - J Now fresh at your grocer'a there’s a new different wonderful thrill for your whole family— Super-LigWonder Country Style Bread! ht It’s New! 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