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Show SCANNING THE WEEK'S NEWS of Main Street and the World department of Commerce Reports Personal Incomes at $251 Billion ELIZABETH II At HTst glance it would not seem important to trie erage American home towner that a young woman has assumed the ties of Queen of Great Britain and the British Commonwealth of Na-ins. Na-ins. But it is important and may have a great bearing on the future of any people in the cross-road towns of this country. It is around this ung woman Elizabeth II the British people will rally in their last-ance last-ance fight against bankruptcy and breakup. In the last 15 years the empire has been breaking up like a ship drift-; drift-; in stormy seas. As recently as 1936 the empire was able to pay its ;iy in international commerce. day, however, Britain is the ' btor of the world. And a com- ' " " wtiiijM jste break-down of British econ- ; jrt'Vd'i I jy would be felt in the cross- -j 'JaM' I -ads of America. ; 1 Britain's present situation is al- ' '",t 1 5st entirely due to World War . ' ' " X 1 h To win that struggle she sacri- : i ' ,1 ed most of the money she had I , C , I Ved at the peak of her power ; 1 -'j . ' nen she directly ruled 450 million f--.s- V s 4 'ople. She spent many of her , "TT" - - . " " Jerseas investments to pay for t I ns and food. ; " 1 addition, the war altered the ' '' ' "' ' 1 lance of power in the world. - j' . (iking the United States and Rus- ' , , - - ' i i. the dominent powers. Here ' - ,s -, ain Britain becomes important L,, -.w-,.,-,.. , ..jjA the United States because she Nan ally by history, treaty and QUEEN ELIZABETH II jguage. So, the new Queen becomes a symbol of unity in the empire and an 'portant figure in the balance ef power between the United States and cssia. She is the figure around which the British people will rally. Whether, S succeeds or fails is of vital importance to this country economically '4 politically. i CONTROLS The fight is on. It began when President Truman guested an unenthusiastic congress to strengthen anti-inflation controls s.1 extend the Defense Production Act for another two years until the ddle of 1954. ,. Again the President slashed out at the Capehart, Herlong, and Butler-',pe Butler-',pe amendments which he unsuccessfully attempted to have appealed t session. He also swung a haymaker at congress generally by declar-p declar-p "most people" already are having trouble paying present prices and lgress should devote itself not to legislative formulas for raising ,.'ces, but instead to finding ways of moving prices downward. The President's strong language caused many of the legislators to ieve the chief executive was making 1952 campaign material. Controls 1 inflation are touchy subjects they know from experience. They also !'jw they must take some kind of action that will impress the people lithe home towns, but how they will get around the pressure groups, if By do, is another question. i: z PERSONAL INCOME The Department of Commerce reports total , -sonal incomes of Americans in 1951 was 251 billion dollars, 12 per cent j'jve 1950. The department said that by the end of 1951 total individual romes had advanced to an annual rate of 257 billion, compared with 238 on at the end of 1950. Except for a steady increase in farm income and in government aries, other phases of the economy reported on showed incomes had ' ome stabilized over the past six months. !: The department reported the biggest increase was in government "'rolls. They jumped by 33 per. cent to an annual total of 29 billion. J:m incomes increased almost 25 per cent to a total of 17 billion. Higher m prices accounted for most of the increase, the report said, but there i also slightly increased production. ; In private industry, payrolls increased from 123 billion in 1950 to billion. Increased employment and higher wage rates were credited 'ii the increase, ns ;i VETERAN TRAINING sirce enactment of the original GI bill, !,i million veterans in the United States have taken advantage of its sfccational and vocational training provision, a house committee study-at study-at new legislation for Korean veterans reports. The bill's educational Iivisions by far the most widely used and most expensive benefit Ee cost the taxpayers $12,347,162,546 as of July, 1951. 1 1 Subsistence payments to veterans in school amounted to $8,645,203,-oo $8,645,203,-oo : Educational institutions received $3,276,046,930 in payment for scion. Other payments for books and supplies (including tools for vet-pins vet-pins in trade schools) came to $425,911,946. mi Although not begrudging the money to veterans, the committee re-ted re-ted "graft and waste plagued the program" and an excessive num-jU num-jU of VA employees took bribes, gifts, unusual loans, gratuities, serv-tciS serv-tciS and ownership in schools. ,1 : Under the new bill just introduced in congress payments of all educa-I educa-I jial benefits will be made in a lump sum directly to the veteran. Single jea would get $110 a month. Married veterans would receive $150. FOREIGN AID Fearing congress may severely cut foreign aid 'is, the United States has warned European leaders to agree quickly ' fplans for a European defense force, including German troops, if they ls!it to increase their possibility of getting economic assistance, sf- Secretary of State Acheson and other administration leaders feel congress may become stubborn over foreign aid funds if they can edf show real progress in European unity and the incorporating of Ger- troops in the defense plan. S'The greatest difficulty appears to get French Foreign Minister a'-uman and West German Chancellor Adenauer to stop their bitter i. H which threatens the whole defense project. There are two main is'its for their disagreement: (1) France is afraid of a resurgence of ktf'ressive German nationalism once the Germans begin to rearm; (2) vit Germany wants assurance that if its troops are to participate in defense set-up it will have a voice in N.A.T.O. decisions. ar. ! , i ! : The growing movement to draft General Eisenhower for the I: GOP presidential nominee, got a big shot in the arm with a Madison . Square Garden rally. The Texas delegation is shown on its arrival in I Penn station in New York. It was estimated over 15,000 people st- tended the whooping-it-up rally. |