Galesburg Register-Mail from Galesburg, Illinois on June 15, 1973 · Page 5
Get access to this page with a Free Trial
Click to view larger version

Galesburg Register-Mail from Galesburg, Illinois · Page 5

Publication:
Location:
Galesburg, Illinois
Issue Date:
Friday, June 15, 1973
Page:
Page 5
Cancel
Start Free Trial

Page 5 article text (OCR)

Home front First .Ggjesburg Registar«MaiL Gaiesburg, III, Pfj^^^fja-J 3^1173 $ Muscle Behind Freeze Is Export Control Power By GEORGE J. MAHDER WASHINGTON (UP!) - The muscle beWnd President Nixon's price ffeeze is the power too is asking from Ootigrees to control farm exports. Mere's why: Washington Window The initial reaction most people may have had to the President's freeze on retail prices is to say here we go again. Isn't this just where we came in in August, 1971, when the President also froze prices, except at a much lower level? ! The answer is yes —but. The but la important. j The President didn't ask for export controls then. Quite the I opposite. The administration then was in the process of trying to push salles of American commodities overseas, including big stales to Russia and China. A Temporary Device Now Nixon has decided it is more important to control WHEN BUYING OH SELLING HEAL ESTATE SEE HOLLAND HANNAM AT HAROLD WILSON REALTY 1131 N. Handerion Ph. 343-3103 inflation at Home *han to develop markets overseas. In the President's own words he had made a"baslc decision: In allocating the products of America's fawns between mar* kets abroad and those in the United States, we must put the American consumer first;" He believes that export controls can help keep food prices down. A freeze can be only a temporary device. During a freeze, pressures build up which can send prices soaring after the fneeze is lifted. For example, a (freeze doesn 't allow a retailer to charge any more ifior his merchandise even though other costs go up —like labor, rent, taxes and the cost of farm products. These are being left uncontrolled by the President. Farm Freeze Rejected The theory is that if the consumer doesn't pay more, the retailer will resist price increases at the wholesale level, and the wholesaler, not being able to charge more, will resist paying higher prices for the raw goods. J What if the price of the raw goods keeps going up? The administration is c&avineed that black markets would develop or that prices would go sky high immediately after the Breeze. The administration rejects as unworkable the alternative of controlling farm prices. Ad manisfcratiori economists, who reluctantly accept temporary Galesburg Community Advancement Men's Club Presents its 6th annual Scholarship Dinner Sunday, June 17 Time* 2 PM at HARBOR LIGHTS SUPPER CLUB Guest of Honor & Speaker DR. LESLIE BOND M.D. St. Louis, Missouri Donation $4.00 Please Give Your Non-Profit Support controls, arc dead against controls at the farm level, arguing this would reduce supplies and in the long run be a major blow to system of private enterprise, Something had to be. done to keep price pressures from building up at the bottom, and the President decided that the way to do this was to control the export of basic farm commodities such as Wheat, rice, barley, com and soybeans. Don't Get Hurt Almost everybody who has been Mowing the economy is aware of how the price of soybeans has been soaring recently so that some farmers have had to sell their cattle because they couldn't afford to buy soybeans to feed them. Much of the rise in the soybean price is traceable to speculation based on an as sured world market. The demand for soybeans is world wide and seems to be assured for the indefinite Mure. The export controls would tell the speculators: "Don't be so sure you'll have those world markets. If you bid the price up any more, you may get hurt." That is the theory the administration is going on to try to hold the line on food prices —the new weapon against inflation which makes the 1973 freeze somewhat different than the one in 1971. Charges Dropped Against Cowboy, Evidence Lost NEVADA CITY, Calif. (UPI) — Itinerant cowhand Robert Clark walked into a sheriff's office last year and confessed to a 15-year-old slaying, saying he wanted to get it off his chest. Nevada County authorities reported Thursday that they had dropped a murdier charge 'against' dark, 42, of Nevada, because key evidence in the old killing had been lost by the State Department of Justice. The Nevada County grand jury met twice to consider the case and declined to indict Clark on the basis of existing evidence. For Father's Day June 17th man Not Juit An Ordinary Hammock, But One Designed t Styled With You In Mind. Real Comfort. HAMMOCK only reg. price $ 6.95 STAND only reg. price $ 9.95 HAMMOCK & STAND W M4.90 OPEN: Fri. Night & All Day Set. First National presents a program of enrichment for you JL ll m Jm Am TWO 5-piece place settings when you save •>4 t. Now you can enrich yourself two ways. Enrich your home with beautiful Danish design stainless by famous designer Erik Nellsen. Enrich your bank account with a deposit program that will give you a very rich feeling of accomplishment. You have a choice of two of Erik Neilsen's designs. — Royal Damask, pictured above, and Tulip Time. You'll be delighted with the rich appearance, the soft sheen, the gracious lines of this fine tableware of Swedish chrome steel crafted by Holland's skilled Guild Craftsmen. YOUR 1ST AND 8TH PLACE SETTINGS FREE Every time you make one of the deposits listed below you are entitled to purchase one 5-piece place setting for only $3 or an accessory unit at a similar low price. With ' your first and eighth deposits you get the place setting free, Here's how you do It: Open a Regular Savings account, $25 or more. Open a Golden Passbook account, $100 or more. Purchase a Certificate of Deposit, $100 or more. Add $25 or more to your Regular Savings account. Add $100 or more to your Golden Passbook account. Open a new Checking account, $100 or more. See the patterns on display now at the bank First National First Galesburg National Sank & Trust / Established 1863 / Member F.D.l.C*

Get full access with a Free Trial

Start Free Trial

What members have found on this page