Carrol Daily Times Herald from Carroll, Iowa on May 22, 1974 · Page 9
Get access to this page with a Free Trial

Carrol Daily Times Herald from Carroll, Iowa · Page 9

Publication:
Location:
Carroll, Iowa
Issue Date:
Wednesday, May 22, 1974
Page:
Page 9
Start Free Trial
Cancel

/! 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, however, in attaching to an unrelated money bill an amendment which would have reimposed controls on firms in 17 industries if they failed to keep (heir 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.« 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. -j Wednesday, May 27, 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 in the shopping basket? Price index weighting 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 pnpposal 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 snend less on Transport—7 Clothing Food State is Sued for $10 Million DES MOINES, Iowa AP) — Continental contends the A $10 million lawsuit against state's attempt to place the the State of Iowa has been firm in receivership violates filed in U.SK federal district the firnVs const {t u tional court in Des Moines by Continental Mortgage of Iowa City. 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 (API - 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. MONTGOMERY, REFRIGERATOR SALE r _Health& recreation Housing PRE-MEMORIAL DAY SALE! 34,000 MILE GUARANTEE (A) 2 steel belts help mini- mizetread wearing squirm (D 2 polyester cord plies for good handling control STEEL-TRACK BELTED GRAPPLER II PASSENGER CAR TIRE GUARANTEE Montgomery Ward guoranteei each of iti poiienger car lirei for a ipecified number of milet when uied on your tire doei not give you thii mileage became oft 9 defects in material or workmanthip, • normal road haxord failure, • prematufe tread wtorout (2,32 inchti or leu remaining); Montgomery Ward will: 1. During* ;lh» firit 10% of guaranteed mileage, replace the tire free. 2. During the remaining guaranteed mileage, replace it for a prorata charge bated on mileage uied. No!) punclurei repaired free during the entire guaranteed mileage. For guarantee lervice and odjuiimenti, return tire to any Montgomery Word branch with the Guarantee Booklet luued at the time of tale. Charge after ftnr 10% of guaranteed mileage bated on telling price in effect at the time'of return at branch to which returned, including federal excite tax. Pattenger tires uied on faiicabi, and motor vehicles other than passenger cart are guaranteed on the tame boiii agaimf defecti in material* and workmanship only. E78-14 TBLS WHITEWALL PLUS 247 FEDERAL EXCISE TAX EA TRADE-IN TIRE V A GREAT NON-BELTED TIRE . . REGULAR $25 TO $42 EACH FOR 24,000 MILE GUARANTEE E78-14, F78-14 TBLS. PLUS 2.24 TO 2.41 FEDERAL EXCISE TAX EACH AND TRADE-IN TIRES FAST FREE MOUNTING POLY-TRACK CUSHION RIDE . WHITEWALLS-BLACKWALLS FOR $ 1OO G78-14, G78-15, H78-15 TBLS. PLUS 2.55 TO 2.82 FEDERAL EXCISE TAX EA., TRADE-IN TIRES PAIRS COMPARABLY PRICED TUHUSS IILACITWAU sin A78-13 E7B-14 F78-14'. G78-14 : 5.60-15 G78-15 H78-15 6.00-13 6.50-13 7.35-14 7.75-14 8.25-14 8.25-15 8.55-15 ICOULAI LOW PUCE FOU«" 35.80 43.SO S9.80 63.80 67.80 55.80 71.80 75.80 1.78 1.83 2.24 2.41 2.55 1.78 2.63 2.82 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 • WITH TRADE-IN TIRE OFF YOUR CAR W/W'i $3 MORE EACH ,000 SET FOR 2 WHEELS, EXCH. AUTOMOTIVE SPECIALS! DELUXE BRAKES REG. 9.99 Relined,bond- WA ; tD , S c. lOW ed dual-fric- Q mm tion linings. O.44 INSTALLATION AVAILABLE 14.98 SUPREME MUFFLERS Built strong for liShg life, IA Vfadapters. IV« AC NON-RESISTOR SPARK PLUGS ALWAYS FIRE HOT AND CLEAN Alloy electrode sparks strong CQj while Hot Tip burns deposits. ~* 99c AC resistor plugs . . . 76c Mo - 69c ENGINE TUNE-UP 88 "" 88 ) 8-CYL. WELL TUNED ENGINES CONSERVE ENERGY So we install plugs, condenser, rotor, points.* Set timing and carburetor; check wires, charging system, HWY. 30 EAST, CARROLL 792-3515 COMPLETE AUTOMOTIVE SERVICE CENTER Cot '60 'Mill HA»VIS7 OCHO. lAVOCAOO AND COmiTOI HANDY 110 tOOI HOIOS SMALL FIOZIN fOOO PAC«S 7 OAT MCAt DIAWit «HfS MIAT HISM fOI A WlfK .1 fl^rrr. AUTO ICI MAIII INUUDID MAMS itOIIS ICI < !l S^ Freezer Holds 237 Ibs. ALL FROSTLESS SIDEBY-SIDE, 3 DOOR, 22 CU. FT. REFRIGERATOR 414 Reg. 474.95 I • Your choice of 4 colors • Handy rollers | • 3rd Door in both handy and practical • Large meat keeper • Big Crisper • Ice Maker optional, extra \r,r. Freezer Holds 166 Ibs. ALL FROSTLESS 17 CU. FT. DELUXE REFRIGERATOR 302 1 88 Reg. 354.95 £1733 • Choice of 4 colors • Convertible doors • Cold controls adjust separately • Moves on rollers • Ice maker extra 1-14331 14.1-CU. FT. REFRIGERATOR) WITH SLIDE-OUT SHELVES Reg. 264.95 White only 244 CHOICE OF 125 SO. SO. YD. SO. YD. 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. YD. so. HURRY! QUANTITIES^ ARE LIMITED! #9115-6 BEACH TOWELS JACQUARD 5.99 ea. 2/8.98* JUMBO 7.99 ea. 2/11.98* SPECIAL BUYS IN STOCK #1943 CORDLESS GRASS SHEARS L 44* with Handle 19.44» 792-3513 USE WARDS CHARG ALL PLAN *Pius transportation SERVICE NATIONWIDE! Piompl tcivKt and foiloiy poiU Hwy. 30 East, CARROLL YOU'LL LIKE WARDS

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 11,100+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free