Carrol Daily Times Herald from Carroll, Iowa on May 22, 1974 · Page 7
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May 22, 1974

Carrol Daily Times Herald from Carroll, Iowa · Page 7

Carroll, Iowa
Issue Date:
Wednesday, May 22, 1974
Page 7
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Page 7 article text (OCR)

/! Never Mind Prices, How About Wages? But Escalator Only Goes Up WASHINGTON - (LENS) — Light-bulbs, vitamins, steel and copper products cost more on May 1, the day after price and wage controls expired. Yet they were mourned by very few. A handful of senators tried to revive standby powers for the President, but they were rebuffed decisively, by 57 votes to 31. They did succeed, howeve/r, in attaching to an unreU|ed money bill an amendment which would have reimposed controls on firms in 17 industries if they failed to keep their promises of price restraint^ given in return for early liberation from controls. As-only 10 per cent of the commodities .and services included in the cost of living index were still under controls on April 30, the price rise now that they are gone may not be very sharp. There is more concern about what is going to happen to wages, after a year in which real spendable earnings .(after deduction of taxes and social security contributions) fell by 4.7 per cent. The trade unions have been extraordinarily restrained: man-hours lost through strikes in 1973 dropped almost 63 per cent below the 1970 peak and the average increase in wages and benefits over the life of contracts agreed to declined to 6.1 per cent a year from 7.4 per cent in 1972 and 8.8 per cent in 1971. People living on fixed incomes suffered a great deal more, of course, from a price rise of nearly 9 per cent and it was not surprising that that ingenious economist, Milton Friedman, was moved to propose that the United States should follow Brazil's example and adjust wages, tax allowances and almost everything else to changes in prices. So-called indexing has already gone quite a long way in America and it seems certain that this year the trade unions will take it much further, demanding more generous and, if possible, unlimited adjustments for changes in prices, not only in their wages but in pensions. The head of the Cost of Living Council. John Dunlop, has been seen shaking his head over, this development, but he would be the first to admit that .escalator clauses in union contracts have helped to keep wage demands moderate. Workers are not alone on the escalator. Social Security benefits for 29 million people are now to be adjusted for increases in prices that exceed 3 per cent a year; so are military and civil service pensions and food stamps for 13 million poor. This helps to explain why the government's revision of he consumer price index is causing controversy, even-though it is not to go into effect until April, 1977. Trade unionists have been testifying against it and Sen. William Proxmire, (D-Wis.), who heads the subcommittee on government statistics, has threatenedto forbid the dropping of the present index. In fact, the overhauling of the index is overdue. The weights used in compiling it are based on the pattern of Times Herald, Carroll, la. ^ Wednesday, May 22, 1974 / expenditure of blue-collar workers and clerical workers in 1961-62. As the chart shows, the proportion of their income spent on food dropped sharply between 1952 and 1963; almost What's shopping in the basket? certainly it has fallen further since then. Retaining the old weights when food prices have risen so sharply exaggerates the amount of inflation — and fattens adjustments in wages. Particularly repugnant to the trade unions is the proposal to take into account the spending of a much larger group of Americans, some 80 per cent of the whole population instead of around 55 per cent, on the ground that the index should be broadly based now that it affects so many people and is an important economic indicator. Although retired people and the unemployed would be included as well as the more affluent, who spend IPSS on Price index weighting- State is Sued for $10 Million Transport—7 Clothing DES MOINES, Iowa AP) — A $10 million lawsuit against Food the State of Iowa has been filed in U.S. federal district court in Des Moines by Continental Mortgage of Iowa City. Continental contends the state's attempt to place the firm in receivership violates the firm's constitutional rights. necessities, trade unionists fear that theresulting index would be less favorable to them. The Bureau of Labor Statistics would be delighted to compile both indexes — if it could get the additional $1.5 million that would be needed. Unfortunately neither Congress nor the ARREST PIANO PLAYER ""ENGLAND <AP> - Police rushed to arrest Stephen Nevill as he disturbed residents of this Buckinghamshire village by playing his piano in the middle of the' street. Administration's Office of Management and Budget has been conspicuously generous where government statistics areconcerned. GIRLS START FASTER OTTAWA, Canada (AP) Girls fare better than boys in primary grades, claims one Ottawa education expert. At the early stage of schooling, boys are uncomfortable and unmotivated to learn, says Bayne Logan, professor of education at the University of Ottawa. He suggests that more male teachers in these grades are needed to give boys something to identify with. /\AOIVTGO/V\ER REFRIGERATOR SALE [Health & recreation Housing PRE-MEMORIAL DAY SALE! MITI. HAIVIST GO10. 34,000 MILE GUARANTEE HANDY 310 DOOI HOlDS SMAU >IOIEN FOOD PACKS (A) 2 steel belts help mini- mizetread wearing squirm (D 2 polyester cord plies for good handling control STEEL-TRACK BELTED GRAPPLER II 7 DAT MIA1 DIAWII Klftt MiAT ItISM »OI A Win SsiS^ss PASSENGER CAR TIRE GUARANTEE Montgomery Word each of ill possenger cor tires for a specified number of miles when used on passenger can of station wagons, eiicepl taxis. If your tire doti not gi»e you this mileage because of: • defecls in malarial or workmanship, • normal road haxard failure, • premature Irtad weorout (2/32 inchis or Ull remaining); Montgomery Ward will: 1. During'Jlhe first 10% of guaranteed mileage, repla.ce the lire free. 2. During the remaining guaranteed mileage, replace it for a prorota charge based on mileage used. Nail punctures repaired free during'the entire guaranteed mileage. For guarantee service and adiustmenli, return tire to any Montgomery Ward branch with Ihe Guarantee •ooMet issued at the time of sale. Charge after first 1 0% of guaranteed mileage based on selling price in effect at Ihe lime'of return at branch to which returned, including federal ocise lo». other than passenger cars are guaranteed on Ihe lame basis against defects in moteriols and workmanship only. E78-14 TBLS WHITEWALL PLUS 247 FEDERAL EXCISE TAX EA TRADE-IN TIRE AUtO ICI MAMI INCIUDID »«(S itOlli ICI I 1 *"*! Wtf. ALL FROSTLESS SIDEBY-SIDE, 3 DOOR, 22 CU. FT. REFRIGERATOR 414 Reg. 474.95 • Your choice of 4 colors • Handy rollers | • 3rd Door in both handy and practical | • Large meat keeper • Big Crisper • Ice Maker optional, extra Freezer Holds 237 Ibs. Freezer Holds FAST FREE MOUNTING A GREAT NON-BELTED TIRE . . . POLY-TRACK CUSHION RIDE REGULAR $25 TO $42 EACH .. . WHITEWALLS-BLACKWALLS \\ V ' ' *J^^ - ^^' 24,000 MILE GUARANTEE 4 FOR $ 88 E78-14, F78-14 TBLS. PLUS 2.24 TO 2.41 FEDERAL EXCISE TAX EACH AND TRADE-IN TIRES FOR $ 1OO G78-14, G78-15, H78-15 TBLS. PLUS 2.55 TO 2.82 FEDERAL EXCISE TAX EA., TRADE-IN TIRES ALL FROSTLESS 17 CU. FT. DELUXE REFRIGERATOR 302 SAVE Reg. 354.95 26*5 M733 • Choice of 4 colors • Convertible doors • Cold controls adjust separately • Moves on rollers • Ice maker extra 14.1-cu. FT. REFRIGERATOR! WITH SLIDE-OUT SHELVES 88 Reg. 264.95 White only 244' PAIRS COMPARABLY PRICED TUIEUSS IILACKWAU. SIZE A78-13 B78-13, E78-U F78-14' G78-14 5.60-15 G78-15 6.00-13 6.50-13 7.35-14 7.75-14 8.25-14 8.25-15 8.55-15 IECUIAI LOW PUCE FOU«' 35.BO 43.10 59.80 63.80 67.80 55.80 71.80 75.80 1.78 INA 1.83 2.24 2.41 .\<a 2.55 1.78 2.63 2.82 , WITH TRADE-IN TIRE OFF YOUR CAR W /W'» $3 MORE EACH -£SAR^^ 4-PLY NYLON CORD AIR CUSHION TIRE 4FOR35 80 A78-13 TBLS. BLK. PLUS 1.78 F.E.T. EACH, TRADE-IN TIRES PAIRS COMPARABLY PRICED CHOICE OF 125 SI SQ. YD. SQ. YD. SET FOR 2 WHEELS, EXCH. AUTOMOTIVE SPECIALS! DELUXE BRAKES REG.9.99 B I- ~l l*~~A WARDS IOW Relined, bond- MIC( ed dual-fric- * mm tion linings. O*44 INSTALLATION AVAILABLE SO. YD. ENGINE TUNE-UP 14 88 ,14.98 SUPREME MUFFLERS Built strong for iShg >'<*'If) 88 adapters. IV.OU AC NON-RESISTOR SPARK PLUGS ALWAYS FIRE HOT AND CLEAN Alloy electrode sparks strong while Hot Tip burns deposits. 99e AC resistor plugs . . . 76e •6-CYl. ; 88 8-CYL. WELL TUNED ENGINES CONSERVE ENERGY So we install plugs, condenser/ rotor, points.* Set timing and carburetor; check wires, charging system, EVERY CARPET ON SALE! • Shags, shag-plush, level-loop tip-sheared velvet, hi-low pile, multi-level loop, sculptured pattern • Jute back and hi-density foam back • Solids, tweeds, multi-colors, hues SAVE 1.13 to 3.8O sq. yd. Only 4.44 to 9.99 sq. yd. W -~ €1 YD. so- YD. HURRY! QUANTITIES^ ARE LIMITED! #9115-6 69c HWY. 30 EAST, CARROLL 792-3515 COMPLETE AUTOMOTIVE SERVICE CENTER BEACH TOWELS JACQUARD 5.99 ea. 2/8.98* JUMBO 7.99 ea. 2/11.98* SPECIAL BUYS IN STOCK —.—, .— CORDLESS GRASS SHEARS I 44* with Handle #1943 19.44* 792-3513 *P/us fransporfofion Hwy. 30 East, CARROLL USE WARDS CHARG All PLAN SERVICE NATIONWIDE] Prompt ttivic* and lacloiy porH YOU'LL LIKE WARDS

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