Carrol Daily Times Herald from Carroll, Iowa on May 1, 1974 · Page 5
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Carrol Daily Times Herald from Carroll, Iowa · Page 5

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Carroll, Iowa
Issue Date:
Wednesday, May 1, 1974
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Page 5
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Inflation Continues To Soar By William J. Scherle By NBA-London Kcnnomist Ni-ws Service The nation's economic output dropped 5.8 per cent in the first quarter of 1974, but the rate of inflation leaped 10.8 per cent to the highest point since the Korean War. Normally, a decreased growth rate would be coupled with slowed inflation, but these are not ordinary times. Traditional rules of the marketplace seem to hav gone out the window. All sectors of our economy are caught in this fog of uncertainty, but businessmen will either profit or lose the most. One thing the experts do agree on is that retail sales are booming — but nobody knows for sure when the market will taper off. Some predictors see the boom lasting until the fall, particularly in rural states less affected by industrial lay-offs. But, other experts theorize that consumers are buying goods now that they will need in the coming months as a hedge against inflation. Purchasing power is in a decline, and if a public attempt to tag inflation is causing the high sales volume, it could bode ill for retailers in the days ahead. The question is, should government try to shore up dipping economic growth by cutting taxes, or should Uncle Same make cutting inflation his first priority. Evidently, the administration has decided that inflation is the darker dragon and on April 24 the Federal Reserve Board began to unleash its heavy artillery by raising the discount rate to a monumental 8 per cent. (The discount rate is the interest banks pay to the Reserve for money they borrow.) Hopefully, the higher rate will slow inflation to a respectable level so that mainstreet merchants squeezed between inflation and recession can plan for the future with a promise of stability. -0- Next week will be your last "Report from Washington" until June 12. New regulations were passed by Congress governing the use of the frank, a privilege granted Members of Congress where their signature serves as a stamp. This law prohibits mass mailings under the frank for a period of four weeks prior to a primary or general election. As you may know, Iowa's primary is June 4. Local newspapers will continue to receive our weekly reports, and we hope they will find their way into print for the general public's benefit. -0- Evidently OSHA officials are so busy writing new regulations that they don't have time to keep their own shop safe. Their information director recently tripped over a typewriter cord in his office and fractured his arm. -0- A small, extreme band of half-baked environmentalists have joined hands in a ring-around-the-rosey public evaluation of how a small group of Congressmen voted on 16 innocuous amendments with questionable relevance to Times Herald, Carroll, la. _ Wednesday, May 1, 1974 «> ecology. These same Fantasyland characters who brought you the fuel drizzle and the energy vacuum by bottling up technology are at it again. Dubbing itself Environmental Action, this dubious clique has vowed to scourge the "Dirty Dozen" legislators they singled out as voting "wrong" on their picayune selections of the year. This self-anointed group of bit-players should not be confused with sincere, dedicated environmentalists who are attempting to strike harmony between progress and idealism. While I want to thank Environmental Action for its compliment in assessing me one of the most influential Members of the House, it is curious that their shouts dimmed to an inaudible whisper when discussing the majority of Congressmen who voted with me on most of the amendments. This assault on selected Members had all the appearances of a political purge and neglected to mention crucial ballots on the bills to which these amendments were attached. Significantly, these energy renegades were totally oblivious to the fueld crisis and must share the blame for its horrendous effects on the Midwest. Samples of Environmental Action's near-sighted "reasoning" include the following amendments: —depleting the Highway Trust Fund by siphoning $700 million for Eastern Seaboard mass transit. —funding legal service attorneys with OEO booty to force hospitals, clinics, and individual doctors into performing abortions against their policies and beliefs — environmentalists assert this would limit population growth. —attempting to foul plans for the desperately needed Alaskan Pipeline. —giving OSHA one more club in its growing collection of regulations — this time its strident methods would have been applied to pesticide control, an area more aptly handled by USDA. The imagination runs wild condiering what hazards such legislation would have meant for Iowa. But Environmental Action's foray did not end there. In the same breath that the group charged me with being a tool of big sgri-business, it hauled me before the mast for asking Iowa State professors to offer expert testimony before a Congressional committee on EPA feed-lot controls. After a subsequent probing ouestion-and-answer session, the ISU ag professionals struck a sympathetic chord with EPA, which later excluded small livestock farmers from untenable run-off regulations. Helping small business and the family farm achieve a decent living has been a hallmark of my work in the House. At the same time, the group overlooked my numerous personal and political contributions to ecology. Environmental Action's nit-picking judgment was an imprudent as it was impudent — considering my stalwart support of America's environment. To urge my defeat would be "un-natural"! New Deal for Steel, But What About Inflation? PITTSBURGH — The American steel industry has been trend-setting in more ways than one. The United Steelworkers Union and the major steel producers have negotiated a wage settlement for the next three years, and prodded by the federal government, have promised to provide equal job opportunities for women and members of racial minorities. Other unions often follow where the steel union leads, while steel itself is such an essential raw material that the effect of these agreements on its prices will be felt throughout industry. More than three months oetore their current contract expires the United Steelworkers have accepted a new three-year agreement. Both their president, I.W. Abel, and the chief negotiator for the steel companies, Heath Larry, said that the no-strike agreement under which the contract had been negotiated had been an unqualified success. They plan to use the same technique for the next negotiations, in 1977. If this year's success is repeated then, they hope to have discouraged the stockpiling of steel by industry in the months before a contract expires, in the fear of a strike. In the past this has made layoffs necessary after a settlement. But nothing is for nothing and the new steel peace is no exception. It could increase the industry's labor costs by as much as 40 per cent over the next three years. The package includes increases of over 10 per cent in the basic hourly wage, on average now about $5.88, a better cost of living escalator for wages and a modified escalator for pensions, the right to retire at 62 instead of having to wait until 65, and a $150 cash bonus for each worker for waiving the right to strike. The settlement, whose details have not yet been worked out fully, covers over 350.000 workers. The agreement over discrimination carried a price tag, too. To be sure of complying with the 1964 Civil Rights Act, nine major producers have agreed to pay over $30 million in back pay as compensation to women, blacks and Spanish-American workers who have been deprived of job opportunities in the past and to increase the numbers of such people in the better-paid jobs where so far they have been "under-utilized" The union was blamed as well as the employers, and it is expected to make a small contribution towards the cost of compensation. Not that either admitted that the system had been discriminatory. It was just that they thought that, after recent court cases, a few changes would remove any doubts. More than 40,000 workers will be affected. lowas are well aware of my staunch commitment to save the Ledges near Boone and my actions which have been instrumental in blocking construction of the ecologically unsound Skunk River Dam on the outskirts of Ames. As a farmer who works with nature constantly, I have an abiding respect for the land and will match conservation practices on my farm against the theoretical environmentalists' pen and paper any time! Furthermore, our Appropriations Subcommittee rolls out the red carpet for ecological programs such as ACP, REAP, and RECP. Our active involvement and extensive appropriations to SCS, ASCS and watershed projects too numerous to mention has made their conservation efforts possible. Supplemental funds were abundantly supplied this year and last for solar and geothermal energy research. Support has also been strong for EPA and Council on Environmental Quality budget requests as we seek to balance environmental zeal with energy realities. Congress has mounted the perilous energy-ecology seesaw and is seeking a stable balance. If the environmentalists fail to cooperate, the consequential choice would be grim — eighter comfort and jobs or environment. Coexistence between these vital factors is possible, but irresponsible, unreasonable rigidity on the part of ecologists would be regressive. In times of crisis, everyone has to make sacrifices and the energy problem is no exception: ici The Kconomist of London Henkenius' See Son Play in UNI Baseball Game ARCADIA — Mr. and Mrs. Louie Henkenius spent Friday and Saturday in Cedar Falls where their son Bill is a student at U.N.I. They attended the baseball games between Morningside College and UNI at which Bill was pitcher. Mary Diers was honored on her first communion at a dinner in the home of her parents Mr. and Mrs. Don Diers Sunday. Guests were her sponsors Mr. and Mrs. Daryl Winker of Carroll, her grandparents, Mr. and Mrs. Art Diers, and Mr. and Mrs. Leo Diers, several afternoon guests visited in the Diers' home. Mr. and Mrs. Tom Tews, Michael and David of Council Bluffs and Terry Strathman of Des Moines were Sunday dinner guests in the Rev. and Mrs. Theo Tews home. THE HOME OF GOOD TASTE Thurs.-Fri.-Sat.- SPECIALS VANILLA CRUNCH DONUTS REG. $1.23 Doz. SPECIAL $ 105 Save 18e. Deliciously different to serve your family. | DOZ. FRENCH HAND ROLLS 4 *€ REGULAR 52c Save 9c SPECIAL *VW Pkg. A dinner or sandwich roll with sesame seed on top. Mm Mm Good! DANISH BUTTER COFFEE CAKE REGULAR 79c Save lOc SPECIAL Filled with assorted fruit and nuts. Chuck full of flavor. SPECIAL DECORATED CAKE FOR MOM for her special day. Golden Glory cake with a "just baked" flavor. GARLIC BUTTER BREAD heat and serve JCPenney 0 25% off every knit in stock. In all the latest colors. Choose from a big selection of double knits, rib knits, many more. Sale 2$ to 3% Reg. 2.99 to 4.99. Stock up now on polyester double knits, rib knits, and many more. All the newest colors, patterns and textures — plus all your old favorites. They're all no-iron, easy care fabrics. Sale prices effective thru Sunday. r vV f Save 20% on pur entire line of bedspreads. Sale 5 59 to 27 20 Reg. 6.99 to $34. Choose from solids, florals, decorator designs and more. Colors to match any bedroom decor. Give your room a whole new look with a brand new spread. Most are no iron, easy to care for. (*' JUNG'S HAVE ANOTHER FIRST FOR CARROLL 100% PURE PEANUT BUTTER Come in and sample and watch us grind it from peanuts to peanut butter while you wait. Catalog Phone 792-3524 STORE HOURS: 9:00-5:00 Mon., Tues., Thurs., Sat. 9:00-9:00 Wed. & Fri. 1:00-5:00 Sunday OPEN WEDNESDAY & FRIDAY NITES TILL 9-SUNDAY 1 to 5

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