The Courier News from Blytheville, Arkansas on January 17, 1955 · Page 5
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The Courier News from Blytheville, Arkansas · Page 5

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Blytheville, Arkansas
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Monday, January 17, 1955
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MONDAY, JANUARY IT, 1955 BLYTHBVILLE (ARK.) COURIER PACTS FITl Slightly Trimmed from Last Year President's Budget Calls for $62,408,000,000 Outlay By THE ASSOCIATED PRESS Budget estimates in millions of dollars for the year ending June 30: < 1955 1958 Income ............ 59,000 60,00 Outgo ............. 63,504 62,408 Deiiait ............ 4.504 2,408 money voted by Congress in previous years. That figure Is about 400 milUons over this year. anticipated spending Yearend Debt ....274,300276,00 By FRANK O'BRIKN WASHINGTON Ifl — President Eisenhower recommended today a slightly trimmed budget he said is designed to guard the nation "against attack from without and undermining from within" while advancing human welfare and economic growth. The chief executive's spending blueprint, outlined in a 27,000-word message and a bulky volume of supporting figures, proposed a 12- month outgo of $62.408,000,000. It contemplates a deficit of about Vf, billion dollars—a little more than half that estimated for the current fiscal year, the fifth successive year of deficits. Estimated expenditures were down a little over a billion dollars from that anticipated for the current year. The President predicted that Income in the new fiscal year, starting July 1. would be a billion dollars over this year—reflecting optimism over the future of the national economy. Eisenhower told Congress— where some members of the dominant Democratic party have won- derd aloud if his defense plans are adequate—that "never in our peacetime history have we been as well prepared to defend ourselves as we ai;e now." But. he said, to protect an "insecure peace" he has assigned to national security programs 40'/ 2 billion dollars—65 per cent—of the nation's spending in the next fiscal year. That Is virtually no change from this year's security outlays, but is six billions less than last year's. Eisenhower said he has re-examined, and found mostly good except for "some changes in timing" the military "new look:" adopted last year. The new budget thus continued primary reliance on air- power to fend off attack and carry smashing retaliation to any aggressors. In addition, Eisenhower laid new emphasis upon a thickening arc of radar eyes across the north of the continent to give early warnings of any sneak attack. The Air Force got a record two-thirds of the spending money assigned to the armed services. With two-thirds of its money earmarked for procurement of up-to-date jet aircraft. "In my judgment, the raillery force and programs upon which his budget is based are accurately adjusted to the national needs." Eisenhower said in his budget message, sent to Capitol Hill. "Partnership Policy" On the nonmilitary side, the new Eisenhower budget stressed And he asked for new funds totaling $3,530,000,000, as compared with $2,781,000,000 voted last year. There was no geographical breakdown, but Eisenhower said the proposed spending would be split up this way in broad categories: $3,075,000,000 for direct military assistance to help U. S. Allies build up their armed forces; 600 millions for "direct forces support" to such countries as the Indochinese states, Formosa and Korea, whose military budgets this country helps to meet; and $1,025,000,000 for nonmilitary foreign aid, most of it presumably for Asia. , ' Transition Made Eisenhower told Congress the 'policy of partnership" In development of communications and re- squrces between the federal government and the states, local governments and, private intrests. Eisenhower called for cost-sharing programs throughout the civilian part of his budget, including references to roads, aviation, shipbuilding and natural resources. He announced appointment of special commission to study soaring veterans' benefit costs, which, he said .need "constructive reconsideration." One recommendation bound to be controversial was the proposed foreign aid program. In the new fiscal year the President proposed spending of M.TM.OOO. 000 ' most of it nation has come through a transition from wartime to peacetime economy which was "difficult for some" but "not serious on the whole," and that "our present growing prosperity has solid foun dation." Secretary of the Treasury Humphrey told newsmen the fiscal year 1956 budget is based on Treasury predictions that during the calen-j dar year 1955 personal income will rise by 4 per cent and corporation profits by 7 per cent. Humphrey said he does not envision any tax cutting proposals this year, but that he hopes by lext year "to be talking about tax reductions and a balanced budget, or a nearly balanced budget." Elsenhower said future spending cuts will be more difficult, but he declared tax reduction 'remains a firm goal of this administration," adding: "A growing prosperity will result In increasing revenues and should make possible both a balanced budget and lower tax rates n the near future. I hope that tax reductions will be justified next year." If that happens, the President said, he will recommend tax cuts aimed to "spread the relief fairly .mong all taxpayers, to relieve individual tax burdens and to increase incentive for effort and Investment." Asks Rate Extension Meanwhile, because "we cannot afford to have any further loss of revenue this year through reductions in taxes," he again asked Congress to extend for a year the present 52 per cent corporation income tax rate, as well as present rates of a group of excise taxes, all scheduled to drop on April 1. His budget estimates were based on an assumption this would be done. Eisenhower called for expenditures during fiscal 1956 totalling almost 62'/ 2 billion. He estimated receipts at 60 billion. That made for a deficit forecast of about 2i/ z billion. Compared with new estimates for the current 1955 fiscal year, ending June 30. and for the 12 months preceding, this is how the 1956 fiscal year estimates looked, in billion: of-dollars: Income Weird Cloud Frightens Londoners LONDON (* — A wierd, 10-minute smoke cloud plunged London in darkness for 10 minutes yesterday afternoon, bringing the vast metropolis nearly to a state of muss panic. Weather men blamed the blackout on an accumulation of smoke under on extremely thick layer of cloud. * "It was pitch dark and then the nhce went silent," said a news- piper seller in Piccadilly Circus, the heart of the city. "It was lonely frightening and awful. Then • o'meono began to scream he'd K one blind. I was getting my wind up when it ail of a sudden come "The end of the world has come!" a man outside Croydon Town Hall shouted. Some persons fell to their knees on the sidewalks and prayed. The pall descended without warning, then disappeared as quickly as it had come. Outdoor Job Pays BLOOMINODALE, Mich. W>— When poor health forced Charles Wilson out of an office and Into the outdoors, he and his wife decided to no Into the poultry business. Today 14 years later they've perfected their chicken business to the point'where they can take six- month vacations every ycnr They raise broilers lor the resort trade. Production starts In April and ends in mid-October. The brooder on their 8 14-acre chicken farm starts 300 chicks a week. When they're ready for mar kel the chickens are plucked and drawn by an electric device, then packnRCd for dealers. ..With help from nclfihbors, the Wilsons say they cnn dress up to 100 birds an hour. Read Courier News classified Ads. rent fiscal year showed a general squeeze-down since September 1954, when fiscal 1955 estimates were last revised. The government then forecast receipts totaling 59(4 billion, spending of 64 billion and deficit of 4% billion. Four Divisions Eisenhower said his fiscal 1956 .spending program could he sliced up into four main divisions: Protect Against Possible War— 40'/ 2 billion dollars, or 67 per cent of the total budget. This included spending for the Coast Guard and other defense-related expenditures Civil Benfits—12 billion dollars, or 19 per cent. This Included veterans benefits, public assistance grants to the states, development programs, and aids and services to agriculture, business, labor and home owners. Interest On -Federal Debt—6'/ 2 billion, or about 10 per cent of the budget. Civil Functions—214 billion, about 4 per cent of the budget. This included the administrative coits of running the government. Eisenhower predicted that the federal government would wind up the next fiscal year on June 30. 1956, with a national debt of 276 billion dollars. That would be a net debt crease for the year of about billion over the debt total of 274'^ billion which Eisenhower forecasl for June 30, the end of this fiscal year. But, he said, because of low tax receipts in the first half oi next fiscal year, ,the governmenl would have to borrow about eight billion dollars, mostly temporarily and this would leave "no alternative" but to ask Congress to boosl the debt ceiling. The governmenl now is operating under a temporary ceiling of 281 billions. This reverts to 275 billions next July 1. Liberal Conservative The President told Congress his fiscal philosophy—stated before in similar words—is this: "A libera attitude toward the welfare of peo pie and a conservative approach to the use of their money." He said that "stern requirements" of defense are the chief 64.7 59.0 60.0 Outgo 67.8 53.5 62.4 Deficit 3.1 4.5 2.4 Appropriations $ 62.8 57.3 58.6 The new forecasts for the cur- obstacles to further spending cuts now. but that since the nation is not currently using up its defense production In a shooting war, "our defense expenditures are now bringing about a steadily growing strength." It Is our purpose, working In concert with other nations, to ban- sh the threat of atomic warfare which now confronts the world," Elsenhower said, adding that the iscal 1956 atomic energy program 'provides for greater expenditures :han ever before on projects of develop peaceful applications of atomic energy." He recommended atomic energy spending totaling two billion dollars in fiscal 1956, some 50 millions less than this year. Operating costs would rise, Elsenhower said, but construction and equipment costs would fall next year because work will be completed on production plants now abuildlng. Eisenhower said there would be a "higher level" of raw uranium purchases IVasIrn Budrel general adv. Jan. 17 Gal 4 The President described a growing nucleus of atomic-powered submarines. He said his 1956 budget provided for "additional" similar submarines. Pour already have been authorized. Highlights In addition, Eisenhower said the DANGER! H It DM««rovi fo Neglect Covghfrom Common CoW Chronic bronchitis m»y develop if your cough, chest cold, or acute bronchitis is not treated and you cannot afford to take a chance with any medicine less potent than Creomulsion. II goes into the bronchial system to help loosen and expel germ laden phtegm and aid nature lo soothe and heal raw, tender, inflamed bronchial membranes. Crcomulskm blends beechwood creosote by special process with other time-tested medicines for coughs, it contains DO narcotics. Get a large bottle of Creomulsion at your drug store. Use it all as directed. Creomulsion '« guaranteed to please you or druggist refunds money. Adv. Atomic Energy Commission and to continuing review." It Is import" ant he said, that "we do not attempt to fix our minds or plans upon any particular set of numbers, for today's technological the Defense Department are collaborating to "expand and accelerate" the application of nuclear energy to airplanes and to develop 'small transportable" reactor package. Here are the highlights of Eisenhower's new defense spending program: He alloted 15!4 billions to the Air Force, slightly less than it was in fiscal 1954, while the fighting was still in progress in Korea, but 400 millions more than this fiscal year. The Navy got 9% billions. This was about 3 Vt billions less than the Navy spent in fiscal 1954, but virtually the same as its share of defense money this year. The Army billion. About was down for 4 billions less than In fiscal 1954 but about the same as this year. Altogether, the Defense Department was budgeted at 34 billion dollars for military functions, slightly less than this year and6% billions less than in fiscal 1954. "Our current military plans," Eisenhower said, "will be subject changes may make yesterday's numbers and concepts obsolete." The new budget upped arms aid to U.S. Allies by 450 million dollars to 3% billion. Eisenhower called for additional spending of a billion for foreign economic aid. He said the total Includes provisions for "a program In Asia" but left details to be disclosed later. People 60 to 80 Can Apply For Life Insurance Kansas City, Mo.—Even though you may be past 60, let us tell you how you .can still apply for an extra 51,000 worth of life insurance to help take care of final expenses and other emergencies. -You can handle the entire transaction by mail. with OLD AMERICAN of KANSAS CITY. No obligation. -No one will call on you! Write today for free information. Simply mail postcard or letter (giving .age) to Old American Ins. Co., 3 W. 9th, Dept. L103B2, Kansas City 5, Mo. SARASOTA, FLORIDA Where Summer Spends the Winter Every day if a fun-filled day at sunny Sar«o»at Winter home of the Greatest Show on Earth — Ringling Brothers — Bornurn & Bailey Circui, Boston Red Sox spring training, Ringling Mu- teum or Art, jungle gardens, sandy beaches and fabulous fishing. Yes, you will enjoy eventful, exciting Sorasota — day and night! Reduced Rotes Until February 14 The Sorosota Terrace is the finest on Florida 1 ! famous Wett Coos* — swimming pool, shuffleboard courts, excellent dining and cocktail lounge. American and Euro- peon plan Guests enjoy privileges of Lido Beach, Bobby Jones golf course, including free transportation to these facilities. "Southern Hospitality" SARASOTA TERRACE, P. 0. Box 1720, Phone Ringling 2-5311. SARASOTA, fLA. ITS SAFER TO PAY BY CHECK Here ore 4 reasons why it Pays to Have a Checking Account: 1. Your cancelled check ^s a legal receipt proving you have paid the bill. 2. You have indisputable record of payments that are tax deductible. 3. Your clear record of expenses is n big aid in budgeting living; costs. 4. Your name is impressed on the firms you deal • with. ESTABLISH YOUR CHECKING ACCOUNT WITH US TODAY! It will pay you to watch ,for our ad next Monday - - "PRECAUTIONS IN WRITING CHECKS" BIGGEST PENNY It buys more than 500 glasses of safe, palatable water supplied by your public water supply system. Yes, the penny you spend for water has the highest purchasing power in the world. For less than ten of these pennies you get a ton of water delivered right to y-our faucets. Yet few of us stop to consider that this convenient, reliable, low-cost service is due to the efficiency of America's public water supply A good water supply rarely receives public recogni- tion because, like good health, it is taken tor granted. But it is the community's greatest asset, guarding health, life Blytheville Water Co. your Cheapest Commodity" — • MISSISSIPPI COUNTYS OLDEST BANK • — THE FARMERS BANK AND TRUST CO. TIME TRIED — PANIC TESTED Member Federal Reserve System and F.D.I.C. BE WISE. PAY BY-jf CHECKf SIMPLIFY SHOPPING AND SAVING WITH What do you Need? - Get it fast with a low cost want ad! Thrifty women — and men, too — read our classified ads every day for the best reason in tht world: YOU SAVE! ! Want ads in this paper are a market place for everything you want to buy, sell, or swap and — for expert services. . . . Get the classified shopping habit, now. ... we will help you write the Ad! Ads placed before 5 p.m. will appear next day, except for Monday's paper when ads must be placed by noon Saturday. All classified advertising payable in advance. BLYTHEVILLE COURIER NEWS

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