Galesburg Register-Mail from Galesburg, Illinois on September 30, 1963 · Page 5
Get access to this page with a Free Trial

Galesburg Register-Mail from Galesburg, Illinois · Page 5

Galesburg, Illinois
Issue Date:
Monday, September 30, 1963
Page 5
Start Free Trial

Uncle Sam Is Bothered by Gold Paucity By 8AM DAWSON NEW YORK (AP) - Dollar claims by other nations exceed U.S. gold and currency reserves. Worse, these claims are growing despite the efforts of this nation, the world's strongest economically and financially, to get its books closer to balance. And this year a major run on its gold stocks is being averted to considerable extent by the good will and sympathy (and self interest) of its friends. This fiscal unbalance could go deeper than just hurt pride. It could lead to a hurt dollar. If unchecked, it could end up in a blow to all the western world's structure of finance and trade. How did the United States get Into this fix? In its simplest terms the problem now being thrashed out in government and banking circles here and abroad is this: For several years, especially since' 1957, the United States has been sending abroad more dollars than it has been getting back. The steadily mounting piles of foreign-held dollars, or credits easily turned into dollars, now adds up to more than $20 billion. By U.S. law other governments or their central banks can turn in their dollars to the U.S. Treasury for gold at $35 an ouce. And off and on they've been doing just that. The treasury now has only $15.5 billion of gold (down from $24 billion some years back). And $12 billion of this hoard is earmarked as a reserve backing U.S. paper money. That is Uncle Sam's gold embarrassment. His trouble arises from a deficit between outgoing and incoming dollars, called the deficit in the balance of payments. Here is how the deficit has run since 1957: $3.5 billion in 1958; $3.7 billion in are m Happiness is hard to pin down. People look for it in every direction, but it's basically spiritual. You discover that the only real happiness comes from God — end from learning to live in obedience to His love. There's a one-hour public lecture coming on this theme by Roy J. Linnig of The Christian Science Board of Lectureship. It's titled "The Science of Happiness." You're Invited to come and listen. ICMosclewtieciirt Tuesday, Oct. 1 - 8 P.M. FIRST CHURCH OF CHRIST, SCIENTIST Broad and Losey Streets They'll Do It Every Time By Jimmy Hatlo REDNECK,THE FOOTBALL REVIVES OUT WITH ALL THE 4RM AND HAND SIGNALS INSTANTANEOUSLY/ But THE 6AME MUST HAVE WORN HIM OUT..». HE DIONT HAVE ANY SIGNALS LEFT FOR THE RIDE HOME* 1959; $3.9 billion in 1960; $2.4 billion in 1961; $2.2 billion in 1962. And this year the deficit has been increasing. In the first three months we ran $800 million be-; hind; in the next three months $1.3 billion short. This made the first half of 1963 about as bad as all of 1962. But al/ along the United States has been exporting more goods than it has been importing. This is called the balance of trade. What has really counted has been that balance of payments deficit — the amount each year by which all the outgoing dollars have smothered the favorable balance of trade. As some of these accumulated surplus dollars abroad have been turned in for gold, the treasury's hoard has shrunk in this fashion: Down $2.2 billion in 1958; $1 billion in 1959; $1.7 billion in 1960; $878 million in 1961 and $911 million in 1962. So far this year the gold loss has been $395 million. Disquieting as the gold drain has been, what's worrying Washington and many bankers here and aboard is the buildup of dollars and dollar claims abroad. Willard Scouts Earn Awards Merit badges were awarded and new members welcomed at a meeting Thursday night of the Silas Willard Cub Scout Pack 202. James Peterson received a wolf badge, Jeff Sterling and Roland Norris, bear badges, Robert Dillard, a lion badge; Steve Olson, Gary Puncell, Steve Johnson, Duff Starr, Jeff Fox, Jim Betts- worth, Mike Klebert, gold and silver arrow points. Den 4 presented the pledge to the flag and plans for the next year were mapped. A pre-pack meeting will be held Oct. 9 and next pack meeting will be Oct. 24. Tomato halves may be broiled along with the chicken. Place both foods about four inches from the source of heat, but add the tomatoes about 10 minutes before the chicken is done. MAILBOX (Continued from page 4) railroads in Europe combined." This thought-provoking article was authored by Louis Donv browski and appeared in the September 6, 1963 issue of the Tribune. I feel that it is excellent reporting of little-known facts, and is well worth sharing. —Mrs. A. L. Ross, 1547 N. Cedar St. Drive Beginning Editor, Register-Mail:' Soon every citizen of Galesburg and Knox County will be given the opportunity to support the United Fund-Red Cross Appeal. . . . Not one of the 11 participating agencies represents a "frill" on our community image. Each is serving a function directly connected with the well-being of the community and is dealing with basic problems which cannot be wished away or dissolved by shutting our eyes to them. This is our community, and never let it be said that we will not share each other's burdens. The climate of life In Galesburg and the county is what we choose to make it. Have you considered what would happen if these agencies were forced to abandon their efforts? Ask yourself what the alternative will be if full voluntary support is not forthcoming. I sincerely believe that no one can look thoughtfully into the work of these gtneies and remain unimpressed. There are, indeed, "many wonders" accomplished by dedicated people fur- Gofesburo Register-Moil, Gofesburq, (If. Gikon Group Sets Project nishing services which can never be evaluated in dollars and cents. But if there should be someone who must consult his pocketbook before listening to his heart, it might be well to consider a balance sheet on the relative costs to the community of maintaining these agencies on a voluntary basis as a^iinsl lotting their services gn hy default to governmental handling. . . .which, so far as I can see, is the sole alternative. It has been shown many times that as the ratio of character-building services is decreased, delinquency and crime rates rise and add to the cost of law enforcement, (from taxes) It can be a matter both of tremendous community pride and sound dollar sense if Galesburg and Knox County could see to it that the goal of the United Fund appeal is reached. Again, I say, the needs which are at present being met by the 11 agencies will be with us whether we meet them squarely and affirmatively, or turn our bocks on them. They will not disappear. We must feel the strong desire to look after our own. — Anne W. Pettlt, 1403 N. Prairie St. YES, Frank's is QUALITY kraut, delicious hot or cold. GiKSON — Plans were completed for the Indies Aid fried chicken supper Oct. 9 at. a meet* ing Sept. 25 in the church. The lossnrt was given by Rev. Tholmn Case on the basic beliefs of the Presbyterian and Lutheran churches. Members worked on carpet rags. The new rag rugs were on display and there will be a bazaar along with the supper. Solicitors are Mrs. Daisy Lindahl, Mrs. Charlotte Hodge, Mrs. Mildred Jefferson and Mrs. Pat Brush. Mrs. Evelyn Westfall and Mrs. Olga Eckman will take care of the bazaar. Gilson Briefs Mr. and Mrs. Elmer Howarter and Mr. and Mrs. Bob King attended the get-together at the home of Mr. and Mrs. Walter Linda his Sept. 22 whoro the brothers and sisters had a pot- Monday, Sept. 30, 1963 5 cept the Floyd Howarters of Chicago. Mrs. Claudette honored at a pink from the Ladies Sept. 25. Stegall was and blue gift Aid Society Wooclliiil! Club Reports on Civic Project WOODHULL - Woodhuli Lions Club met at the Presbyterian Church for a dinner session Sept. 2.1. Additional posts and street signs will be purchased by ths club and $400 will be turned in to the Woodhuli Village Board at the council meeting in October. The money was from the sale of house numbers, which have been installed on nearby all residences and business establishments. San Kittleson, AlWood coach, presented a film of football luck dinner. All were present, ex-game, Orion and AlWood. Science Shrinks Piles New Way Without Surgery Stops Itch—Relieves Pain N«w York, N. Y. (SpueUI) — For the first time «ei«nce ha* found n new henlintr substnnco with the astonishing ability to shrink hemorrhoids, atop Itching, and relieve pain -- without surgery. In cnsB nfter case, while ccntty relieving pain, actual reduction (nhrinknge) took place. Most nmnzing of all—rcnulU were so thorough that auffereri mad* astonishing statement!) like "Pile* have ceased to be a problem I" The secret is a new healing sub- stnnce ( Bio-Dyne®}—discovery of a world-famous research Institute. This substance is now available In tuppoaitory or ointmmt form under the name Prjparation //*. At all drug counters. The Almanac By United Press International Today is Monday, Sept. 30, the 273rd day of 1963 with 92 to follow. The moon is approaching its full phase. The morning star is Jupiter. The evening stars are Jupiter and Saturn. On this day in history: In 1938, Germany, France, Britain and Italy met in Munich for the conference which British Prime Minister Neville Chamberlain said promised "peace in our time." In 1946, 22 German Nazi leaders were found guilty of war crimes in Nuremberg and 11 were sentenced to death. In 1953, President Eisenhower appointed Earl Warren of California as chief justice of the U.S. Supreme Court. In 1962, two persons were killed as riots attending the integration of the University of Mississippi broke out. A thought for the day — George Moore, the Irish novelist, said: "After all there is but one race — humanity." Sunday night supper: add drained .canned red kidney beans to a savory cheese sauce and serve, over steamed rice. A combination salad — lettuce, tomatoes, green pepper and olives — tastes fine with the bean rarebit. SAVE AT REEDS LARGEST SELECTION IN TOWN GIRLS SCHOOL TIME or DRESS SHOES Many Styles to Choose From Others to $3 .87 REED'S s E ""c E SHOES 328 East Main St. (Former Osco Location) OpenwKS ^m^riday evenings 'till 9—other days *tiU 5:00— Except Saturday 'till 6:00 NOW 5 DIFFERENT KINDS OF CHEVROLETS FOR MORE CHOICE 11 '64 CHEVROLET '64 LUXURY JET-SMOOTH CHEVROLET— In a class all its own in everything but price, the '64 Chevrolet rivals just about anything on the road today in styling, comfort and performance. 16 power teams. 7 different engines. 15 models in four series including exciting new Impala Super Sports, luxurious Impalas, handsome Bel Airs and low-cost Biscaynes. NEW CHEVELLE! '64 CHEVY E '64 CORVAIR '64 CORVETTE THE ALL-NEW UNE, CHEVELLE! BY CHEVROLET— It's a good foot shorter than big cars—yet Chevelle has surprising interior room and luggage space. Line includes Malibu Super Sports, Malibu Sport Coupe, Sedan, Convertible, Wagons and Chevelle 300 Series. Choice of 120-hp Six, 195-hp V8 or extra-cost 155-hp Six and 220-hp V8. New size, new style, new comfort— a new experience. ALL OUT FOR THRIFT WITH NEW V8 PEP! '64 CHEVY II—Sparkling new perf orm- ance with traditional Chevy II economy. Choose the extra-cost optional 195-hp V8 or the new 155-hp Six, standard 120-hp Six or thrifty four-cylinder engine. Series include smart Nova and improved Chevy II 100. All models have Body by Fisher and such easy-care features as self- adjusting brakes. EVEN EASIER TO GET AROUND IN! CORVAIR FOR '64— New beefed-up air-cooled engine is now 95 hp (nearly 19% increase!). 110-hp extra-cost high- performance version and Monza Spyder with 150-hp Turbocharged engine also available. Bright new styling touches, tasteful and more comfortable interiors, wide range of accessories and extra-cost options for all models. NEW REFINEMENTS IN AMERICA'S ONLY TRUE SPORTS CAR, CORVETTE STING RAY —New one-piece rear window and improved interior ventilation on Sport Coupe. New smoother ride and improved sound insulation on Coupe and Convertible. Four great V8's, THERE'S 5 IN SEE THEM NOW AT YOUR CHEVROLET DEALER'S ONE-STOP SHOPPING CENTER WEAVER-YEMM CHEVROLET INC. 247 E. Simmons Galesburg Ph. 342-2170

What members have found on this page

Get access to

  • The largest online newspaper archive
  • 8,900+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free