January }, 1959 TOWARD FINANCIAL RUIN AUSTIN (Minn,) HERALD* 3 Argentina, Almost Bankrupt, Should Be Large Producer By BRIAN BELL BUENOS AIRES (AP) - This should be one of the richest small nations in the world. Yet today Argentina Is almost bankrupt. Its Internal government deficit tot 1958 was around 60 billion pesos to pay salaries. Th« cost of government has flooded the country with unbacked printing press pesos to pay salaries. The cost of living has gone up 1,500 per cent in 15 years—35 per cent In eight months. The tragedy Is that this need not have happened. Argentina is not a one-product nation. There ii enough oil in the ground to make Argentina a big producer. There are coal fields, Iron ore, •nough to almost all the basic mineral needed — but undeveloped. Was Paradise "Twenty years ago this country was a paradise," you hear often. What happened: How did the country, instead of realizing its tremendous potential, slip toward financial ruin? Much, but not all, of Argentina's troubles can be traced to ex- Dictator Juan Peron. Perhaps the worst thing Peron did was to foster the idea that a person does not have to work hard, or do a good job, to earn his bread and butter. There are many hard working Argentines but the mass of people, spoon-fed by Peron policies which won him the workers' allegiance, are reluctant to give « day's work for a day's pay. Forced Salary Raise Labor laws still on the books make It almost Impossible to fire a completely incompetent man. Peron Instigated the still popular measure of decreeing nationwide wage Increases. This forced private firms to raise salaries regardless of workers' abilities. The dictator provided that striking Workers Would be paid for all the days they missed while on strike. Government employes and their dependents make up a third of the population. This bureaucracy stifles the economy. Diversification Peron tried to swing Argentina from its previous money-making agricultural economy to an industrial economy. Diversification was not a bad idea but it was a case of too much too soon. Farm workers by the thousand were lured from plains to factories. Big ranches which produced thousands of cattle were broken up into The divided lands could not be run as efficiently. Peron encouraged the nationalist spirit which causes Latin nations to attempt mammoth tasks without needed technical aid from outside. Argentina's state-owned oil monopoly in 50 years has been unable to develop proven reserves. Rates Low Peron nationalized utilities and kept rates low. Now deficits pile up yearly and the service is terrible. Peron was overth*wn in 1955 but the country has taken few constructive steps toward recovery. This week some hope came. The nation arranged for 329 millions in credit, mainly from the United States. President Arturo Frondizi freed the' peso to find its own level. He ordered I twc- year regime of austerity, with gasoline tripled in price, train fares increased and prices in general due to rise. He said state-run utilities must pay their way, He has signed agreements with foreign firms to develop oil. The foreign loans are only a temporary measure. The government will have to provide stern leadership and the people hard work if Argentina is to recover. Coat Saves Boy, 6, From Watery Death NEW HAVEN, Conn. (AP) Little boys, their shoes scuffed and their coats flying, often dismay their mothers. But Mrs. Frank Zober of Deer Park, N.Y., is thankful her six- year-old son's coattails were flapping Thursday. The boy, Paul, plunged through a hole in a deep, frozen pond while strolling with a playmate. His coat caught the edge of the ice and held him for 10 minutes in Icy water up to his chest. The other child dashed to a parents were visiting. The father sprinted to the pond and pulled his chilled son to safety. POPULAR CLASSES NEW HAVEN, Conn. (AP) City high school authorities report adult classes in auto mechanics for women are so popular they are setting up advanced courses. pagBaMi«ma%a!^ ; & Get to Know i semi-annual CLEARANCE Gildners big semi-annual sale of top quality clothing. All suits, topcoats and sport coats are from our regular itock of best quality, name brand merchandise. You can be sure you are in "style" if you buy from your Gildner store. Fashion in men's wear has been Gildners business for 60 year*. SUITS Large selection In each group of specially marked suits. You'll recognize the brand names and be pleased with the style. Regulars, portly*, shorts, longs and extra longs Included. FORMERLY $ TO 55.00 38 FORMERLY TO 65.00 48 FORMERLY $ TO 69.50 58 TOP COATS Choose your topcoat now and save. Sizes from 36 to 48 are Included. Raglan and set in sleeves in tweeds, coverts, gabardines and other fabrics. FORMERLY $ TO 39.95 28 FORMERLY $ TO 49.95 38 FORMERIY TO 65.00 48 SPORT COATS Sizes from 35 to 48 In shorts, regulars and longs. Included are many late fall selections. Shop now — complete your casual wardrobe with a sport coat from Gildners. FORMERLY $ TO 24.95 18 FORMERLY $ TO 29,95 23 FORMERLY $ TO 39.95 28 OUR ENTIRE STOCK-MEN'S OUR ENTIRE STOCK-BOYS' WINTER JACKETS . WINTER JACKETS SUBURBAN COATS . SUBURBAN COATS REDUCED 20 * 9- $ 12- $ 14 DRESS RIGHT When you look your best you do your best! ... AT COST and BELOW COST! ManyOne-of-a-Kind Items-Floor Samples-Easy Terms inn* MOM sums AM SCCT/OMIS/ Regular $199.50 Two-Pe. UVING ROOM SUITE ...... Regular $299.50 Frieze UVING ROOM SUITE ...... Foam Rubber Cushion All Nylon Covered - Reg. $349.50 DAVENPORT Q1AA A A and CHAIR SALE ...... ...... $ 1 33.UU Regular $500.00 Foam Rubber, Nylon Covered $119.50 $149.50 $299.50 Reg. $249.50 2-PC. SECTIONAL Reg. $349.50 Tweed Frieze 2-PC. SECTIONAL $149.50 $199.50 $199.50 Regular $239.50 Two Piece C1CA CA SOFA BED SUITE V 109-uU Reg. $349.50 Green Tweed 3-PC. SECTIONAL Reegular $89.50 TWEED STUDIO COUCH Regular $89.50 Famous Davenlter SOFA BED Regular $249.50 Famous Make HIDE-AWAY BED $48.80 $29.88 APPLIANCES SLASHED! II eu. ft. ADMIRAL C1QQ Rfl REFRIGERATOR, Reg. $269.50 .. V > «««*HI (Nit Exch.) 9 Cu. Ft. KELVINATOR REFRIGERATOR 13 Cu. Ft. KELVINATOR REFRIGERATOR, Reg. $439.50 .. Odd Group of CHROME CHAIRS, Reg. $10.00 $139.50 (Net Exch.) $349.95 (Net Ixch.) ... $4.96 (N«t Exch,) 21' ADMIRAL UPRIGHT FREEZER. Reg. $599.90. Holds 700 Lbt. QQAQ OR of Froien Foodi VwHSI.OU (Net Exch,) Famou. KELVINATOR AUTOMATIC WASHER and DRYER PAIR, C9QQ RA Both only 9««ISI.5lU (Nit Exch.) 3 for 1 TV SPECIAL • 21" ADMIRAL TV • TV STAND • Fret Antenna end Initalla. C1 f 0 Eft tion. Reg. $259.90 value .. V*'v*9U (Ntt Exch.) ODDS & ENDS SPECIALS Genuine LANE CEDAR CHEST, Reg. $59.50 , 2-Door Metal WARDROBE, Reg. $19.98 HIGH CHAIR, Reg. $17.95 Reg. $30.00 BABY CRIB Reg. $16.50 BABY BUGGY MODERN DESK, Reg. $49.50 ... $49.50 .59,88 $13.95 $19.88 $9.95 $29.50 3-Pe. LAMP GROUP, Floor Lomp; 2 Tobl. Lomp,, Rej. $50.00 .... 1 Group of TABLE LAMPS, R«g. $15.00 $9.95 DRAPERY SPECIALS Remnants and Bolt Ends Reg. to $1.98 I Reg. to $3.19 69c „. | $1.19 Vi Price LOUNGE CHAIRS, Reg. $119.50 to $149.50 . $69.50 Reg. $79.50, $89.50 and $99.50 LOUNGE CHAIRS CONTOUR CHAIRS, Reg. $69.50 1 Group of END TABLES, Reg. $15.00 PULL-UP CHAIRS, Oddi and End. Reg. $39.50 to $49.50 BARREL CHAIRS, Reg. $45 :jU TWEED SWIVEL ROCKERS, Reg. $79.50 fr $89.50 .... $49.50 ..$9.95 $19.95 $29.50 $49.50 DINING ROOMS Mahogany DROP LEAF TABU and 4 CHAIRS. Rog. $169.50 Blond DINING ROOM OUTFIT. Table, buffet and 4 chairs including ho*t C1AO CA. chair. Reg. $300.00 V I Wi00 5 Pe. Chroma or Wrought Iron DINETTE SET. Reg. $79.50 .. 7 PC. Wrought Iron DINETTE SET $99.50 $49,50 $69.50 FLOOR COYERINCS BROADLOOM CARPET, Modem Carpet. Cotton, Reg. $6.98 14. y«J. ........ .....j....;. *...*. AXMINSTER CARPET, Reg. $H.95 w. yd 56,95 ALL-WOOL CARPET, Wilton, Reg. $13.95 tq. yd. DELUXE 3-PLY CARPET, Wilton, Rag. $20.00 iq. yd. $13.95 CLOCKS - SMALL APPLIANCES - SHAVERS DORMEYER MIXERS, Reg. $29.95 SUNBEAM ELECTRIC SKILLET, Reg. $19.95 SUNBEAM SHAVERS, Reg. $29.95 WESTCLOCK KITCHEN CLOCK, Reg. $3.98 •Plui Tox $19.95 $15.95 $18.88 ,.$2.98* 'mSf"*'' DOWN UPTO 2YRS. SAV£ OH MODCRH & TRADITIONAL BEDROOMS! Regular $169.50 Modern DRESSER and MIRROR BEDROOM SUITE Regular $299.50 TRIPLE DRESSER BEDROOM Bleached BED and $99.00 LIMED OAK '149.50 Bookcase headboard bed and chest. Regular $399.50 PROVINCIAL with DOUBLE DRESSER and FULL SIZE BED BEDROOM SUITE, sav* $100.00 $299.95 Regular $500.00 Solid Walnut BED, VANITY and CHEST .... Reg. $79.50, $89.50, $99.50 and $119.50 ODD CHESTS (in blond AJjA PA and walnut) yTtTi yd Regular $99.50 MAPLE BUNK BED OUTFIT Includes two beds, two mattresses, springs, ladder and rails. Regular $79.50 Plastic Headboard HOLLYWOOD BED With box spring, mattress Regular $59.50 ROUAWAY BED, 4 ft. (with mattress) $39.50 Regular $69.50 extra firm Orthopedic Simmons INNERSPRINO QJQ OD MATTRESS , 940.00 Tonite Shop 'Til 9 2 for the Price of 1 INNERSPRINO MATTRESS SPECIAL Nationally-famou* Simmons "POSTURE BALANCE" MATTRESS and BOX SPRING. ~ Both, Reg. $79.50 each, Both for only $79.50 Just Soy "Charge It"
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