The Tipton Daily Tribune from Tipton, Indiana on February 25, 1971 · Page 2
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The Tipton Daily Tribune from Tipton, Indiana · Page 2

Tipton, Indiana
Issue Date:
Thursday, February 25, 1971
Page 2
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Page 2 CAN'T WE SHRINK-PROOF THE DOLLAR? It used to be that whenever you bought a suit, or a shirt, or a skirt, you frequently had to buy them oversize in order to take care of shrinkage. Long ago industry came up with the technical means to prevent shrinking in fabrics, so that now you can buy clothing that fits and it stays that way. But thus far the government—which has ultimate control over the value of the dollar—has failed to find a way to prevent shrinkage of our hard earned money." The executive head of the U.S. Chamber of Commerce, Mr. Arch N. Booth, recently noted that a 1942 dollar has shrunk in value to only 42 cents today. Inflation, caused largely by Federal deficit spending, has eaten away 58 cents of every dollar earned in 1942.. * . Mr. Booth then asked himself; what would happen if the same rate of inflation continues for the next 28 years? What would the average worker have to earn, or pay, in 28 years, to equal our 424 dollar we have today? •'.!.. There are some of the answers he came up with; if inflation continues: ' The value of our dollar will drop to 18 cents. • A $3,000 car will cost S7.000. A $25,000 home will cost $58,000. ' . A $4,000 college tuition will cost $9,400. A $275 tv set will cost $640. A SI25 suit of clothes will cost $290. A $25 pair of shoes will cost $58. In order to make ends meet, a worker will have to earn $16,800 to have the same standard of living he now enjoys with $7,200 in wages. If inflation continues. The way to prevent it is to convince government officials- local, state; and national—to cut expenses and to discontinue spending money that they don't have. EVACUATED FROM LAOS — Three' South.Vietnamese Rangers, showing the effects of battle, sit impassively in. underbrush at U.S. support basein Khe Sarih just after they were'evacuated ! from battle area in Laos. Washington Window Giving Appears In A Rut By LOUIS CASSELS , UPI Senior Editor WASHINGTON (UPI) - PRi- yate colleges, hospitals, welfare agencies and cultural organizations, . which are dependent on philanthropy rather than tax funds for their financial support, may be in serious trouble during the next few years. . "Unless something is done to substantially accelerate private giving, there will " be a multibillion dollar deficit in private giving by 1975," says Peter G. Peterson, board chairman of Bell & Howell Co. In The Red- Peterson .headed a commis 1 sion of prominent citizens who THE TIPTON (INDIANA) DAILY TRIBUNE Foreign News Commentary Unenployment Soars As Britain Econo m y Suffers More Hards hi ps T H U KS DAY, .F E B IVJ A It Y 25. 1071 By PHIL NEWSOM UPI Foreign Mews Analyst As a yachtsman it is doubtful if British Prime- Minister Edward Heath ever piloted through- such turbulent waters as now in his efforts to restructure the British economy and prepare the nation for entry into the European Com­ mon Market. ' To the bankruptcy of Rolls Royce and the blow it dealt to British pride, the prime minister reacted with an almost evangelistic fervor. '• '\ From it he drew lessons for' everyone, for labor; and its demand for constantly higher wages without regard for price or consequence, for 'manage-- ment and an illusion that businesses can continue to operate under conditions that, do not pay, and for government and the belief that problems can be solved through ever- increasing subsidies and a mortgage on the future. This week, with unemploy- Newspapers Become Instruction Books made a careful study of the • outlook for private philanthropy during the 1970s. It found that many private charitable organizations already are running in the red, and eating up their, reserves to maintain their services to the public. The' basic difficulty, Peterson says, is that giving ; is not keeping pace with : the rising costs- of healing, educational; and social service institutions. Giving seems to be stuck in a rut. Year in and year out, Americans give to all philanthropic causes (in c 1 u d i n g churches) a sum equivalent to slightly less than 2 per cent of the gross national . product By MICHAEL WIDMER- BOSTON (UPI)— Most people read their daily papers to find out the news of the world, but for the pupils at the William Monroe Trotter Elementary School the. newspaper serves as an instruction book in all sorts of subjects. "We use the papers for everything," said Mel Conroy,'a young third, fourth and fifth- grade teacher in this experimental school in Boston's black Roxbury section. "If you use your imagination, there is no end to what you can do with a newspaper," Conroy said, "whether to teach arithmetic and English or develop a social awareness." Conroy and. several other teachers in the Trotter school find that the newspaper allows them to teach the pupils on an individual basis, with each child developing his or her own particular interest.. Get Them Thinking "The idea is to encourage, them to read the papers at home and get them thinking about anything that interests them,'! Conroy said. "Maybe they'll begin to wonder about the soviety around them, or maybe they'll only learn how to shop—but in either case the newspaper will, bridge the gap between school and life at home, and they'll be better for that." ! The school, which has about 750 pupils—half black and half white — from kindergarten through fifth grade, was opened in the fall of 1969 with the aim of developing "thinking, socially adjusted human beings/' Conroy, 27, who is in his first year at Trotter after teaching five years in traditional and more structured environments, explained that in one lesson the children went through newspa- * pers comparing grocery prices at centers. . Good Lesson "It was a good lesson in arithmetic and they learned something about shopping as well," he said. "We saved $1.90 (GNP). In 1969, • for example, the GNP was $932 billion, and giving totalled $17.6 r billion. Costs Rising But the costs of philanthropic institutions have been rising at a rate about 15 per cent greater than the annual growth of the GNP. Thus, the giving gap gets a little wider each year. on the week's groceries." Another time some of the children combed a local paper for errors in spelling and grammar. A reporter from the paper later visited, the class "and he had a hard time explaining why the mistakes got into print," Conroy said. (Continued on page six) CHICKEN! 0 "The newspaper is ideal for this kind of instruction. It's like a constantly changing textbooks "The. kids have really taken to it. I have to get up half an hour earlier each morning to make sure I read )he paper. Otherwise I may not know what they're talking about." ment soaring and costly strikes eating away at the nation's economy, Britain suffered: another blow, , ? It was a decision by the Ford Motor Company's British division to drop plans to build a . new $72:million plant in Britain. " the company has decided in view of the difficulties of giving guarantees of -delivery and production, it cannot •recommend England as -a location," a company spokesman said. i Strike in Fourth Week As he spoke a strike by 50,000 Ford workers for higher pay went into its fourth week with, no end in sight. Neither the Rolls Royce bankruptcy nor the negative Ford decision, singly or together, would be enough to disrupt. a nation's economy. But they were mor<: than individual cases since together- they provided coicrete illustrations of what long has been known to ail British it idustry. . Rolls Royce stood, as a British symbol of quality and precision. A contract signed - with Lockheed Aircraft .Corporation in March,- J" .1968, was the greatest in the country's history.- It was tamgible proof goods .could corn- world's toughest that British pete in the markets Then came the awakening. The contract was for an engine that had. not yet been built, let alone reach the testing .stage. With delays and inflation, costs An original cost of went to more than skyrocketed; $156 million $500 millionJ The company looked to the government |o bail them but as it had before. But the The government view" was' was time for British industry 'to recognize cold economic facts in which there was hp room for slipshod management Reform Bill As it attempts to hold down wage increases to 10 per cent in both the public and private sectors, the Heath government also is attempting to push through parliament a sweeping bill to reform labor-management relations.. It is a British version of the Taft-Hartley act and would for the first time in Britain make the terms of a labor contract enforceable under the law. Among other things, it is aimed specifically, at preventing the wild cat strikes, which cost Britain more than $100 million a year. Among the victims has been the Ford Motor Company. If Heath succeeds in bringing Britain into the European Common Market it will be at the cost of a severe wrench to British tradition; politically and economically. So will his efforts to reform British labor and management. The lessons of Rolls Royce and Ford probably will not be enough and toucher times may lie ahead. There have been threats from •labor that from a Trades Union Congress next month a. general strike could emerge, OPEN 8A.M. TO 9 P.M. CARNEY'S (Km!! 7i\ YOU CAM Df FEND ON REX ALL DKUOF HlODUCtS JOHN CARNEY Registered Pharmacist IJIM RUSSELL Registered Pharmacist J OPEN 8 A.M. 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