Page 18 article text (OCR)
Alton Evening Telegraph Tuesday, Angus) 29, 1S172 Questions remain on unemployment Alton Evening Telegraph Tuesday, August 29,1972 An all-mail (rain ilesigiu'rl to speed bulk mail and mrkages between Chicago and the Pacific Coast rt-reives packages prior to departure Saturday of packages for officials in Oakland and San. Francisco. Miss Zip (Judy Dyson) of Chicago's Pf^ral Senice hands parcel post to BurJin^lon Northern engineer Norman K. Alor, nuined honorary mail carrier for the inaugural trip. Burliiig- ton Northern, Union Pacific and Southern Pacific, are cooperating in reviving the name and lame of a train which took over from (he Pony Express. (AP Wire- photo) By JOHN CUNNIFF AP Business Analyst NEW YORK (AP)-Regard- loss of who wins the presidency, unemployment must be tackled all over again in an attempt to separate fantasy from reality. Still unanswered, for example, are these basic questions: —Is it really posvsiblc, considering politics, to maintain full employment and a stable economy? —What is full employment- four per cent unemployed, as we now claim, or nearer three per cent, as some officials claimed during the Johnson administration? —Who is to be regarded as unemployed? The federal government says the jobless are all who attempted to find jobs during the month previous to its survey, or who were waiting to report for work or temporarily laid off. But there is disagreement. Consider these two viewpoints, each widely held, about the same situation. First, two New York profes- 'Self-regulation' is archaic term as Big & Tall Men's Clothes Department Sizes Up to 60 applied to securities NEW YORK (AP) - The term "self-regulation" as it applies to the securities business is becoming archaic, it would seem, headed for use mainly as an historical reference to a free-wbecling past. Over the past rViur <i«i::iii«s the Securities mil E:;;:iianu« Commission :nis steadily encroached on Iw pmwrs <ii' broker- ;2int A'chmmas ;o ran their affairs:. ;n rhe mum because it was :>tr. riiat «if- regulation often meant. ie : .i'- interest. Now Wall Street's authority to plan the future of its own industry seems about to be stripped further by Congress, where feeling is said to be strong for introducing, of nil things, more competition. The latest advisory to sto-k exchanges, one that could become law if the advicp isn't accepted, is to eliminate a 11 o g e t n e r those fixed minimum commissions that small investors claim take too large a bi'.e out of their profits. In place of stnmlard commissions, which nnw are set by the industry under SEf regulation (in orders nf less than $300.000. the ices brokers charged would depend on IUAV badly they wanted the business — that is. competitively. In the easier days, all c Mil- missions were fixed. It >mi wanted to buy a share hi America, as the HI in v;oes. you generally had m> ••hoice but to pay the existing fee. In the past, a brok"r performed a wonderful son ice so long as it was con-trued a- a service. But MS times changed and the lirokvj'.vA' industry didn't, broker- came to bo viewed ;t> obsiru' i !i'.iii in the way of the rigl;; n» buy. Self-regulation too often »\;H interpreted by the indu-;;;. .is the right, oven the oblivion. to protect members. Auci i>i- variably thi.s prutoction ^-ein« to have come at the ])iililic\ exix-nso. Now the House iimunmv subcommittt-e thu'. anwiiL' many su.ugosiions. ureos an end to fixed it-es. -tatos that "the phrase •sdf-ivmilation' be consigned to the fw-'i." and "cooperative regulation" in.- substituted The subcommittoi 1 . headed by Hep. John E. MO.-.S. D- Calif., warns that legislation will be introduced unk->.-> fmther steps are taken to introduce more competiti\e pricing, eventually ending a practice that promoted inefficiency. "If the securities industry expends as much energy in adjusting to a competitive its wisdom," the report system as it has in debating stated, "the subcommittee is convinced that the industry will not only survive, but it will flourish." The new term may be "cooperative 1 regulation," but anyone in the industry can recognize that as a euphimism. It would bo too blunt ro say "cooperate or else." GUTTER SALE • Eliminate Point Peeling With Baked Enamel Aluminum • Maintenance Free For 20 Years • Professional Installation $149 "• v ^"INSTALLED GERSSV8AN & COMPANY 2S06 State 466-5588 II I N, 2nd 656-7006 21 YEARS / OF SERVICE WANTED! PEOPLE WHO REALLY WANT TO SAVE MONEY WHEN PURCHASING A QUALITY GAS RANGE SAVE During Our Sale of Sales HARDWICK NEW AUTOMATIC CONVENIENCE You won't believe what a breeze it is to prepare the family meals . . . day in, day out ... on a new modern Hardwick range. Quick, clean, cool top of the range cooking . . . even-heat oven for perfect baking . .. and easiest cleaning ever. HARDWICK PRICES BEGIN AT 20" Apt. Size Cusb & Carry E BBLERS A.. D> Home O/ Cash <£ Cany iance4 Like Buying Wholesale sors, William Abraham and A.J. Jaffe, claim the jobless figures released each month by the government, fail to include all those who are really sucking pobs. The joderal statistics, they say, fail to count the "inactive unemployed" or "discouraged worker."—eligible for work, but too discouraged by earlier failures to look for work. The professors say unemployment in the United States is more than a full percentage point higher than the official figure—recently about 5.5 per cent of the labor force. Now consider the view of the National Federation of Independent Business, which claims an active membership of more than 300,0fffl small- and medium-size businessmen. The federation claims that the widely quoted jobless figures overstate the problem. It quotes the owner of a Mississippi cleaning plant as writing: "As the potential employer cf as many as 20 people can you see how I feel when I go for months without one single application for work? "I can call the State Employment Office and the odds are about 10 to 1 that they will not send anyone to apply for the job. Most people who can even be contacted ... will tell us they have no experience but will not take the job as it might interfere with their welfare..." J & ASpringman COMBINATION SCREEN-STORM DOORS TOP BRANDS! TOP BUYS! TOP VALUE STAMPS, TOO! Sec Our Valun-i'ackRct Ad In Tomorrow's Telegraph! K Etna's All-Driver Plan doesn't offer lower rates, broader coverage, or both, a whyare our phones so busy? E veri we're surprised at how popular it 13. Actually, \ye shouldn't be. Because the .ffitna All-Driver Plan offers remarkable advantages. Take the premiums. Even if your present insurance company is already giving you lower rates for your safe driving record, the ^Etna All-Driver Plan ehould cost you less. Bent a fender or two in the past few years? You could still save. You probably won't have to pay as much for your coverage as other insurance companies would charge you. Even if youVehad lots of bad tocK in your driving—are having trouble getting any insurancer you should be able td qualifyfor All-Driver. With its broader coverage and the best guarantee in the industry on policy renewal Callus, or comcimWealwayshave time to talk to you. QUEEN INSURANCE AGENCY 657 EAST BROADWAY ALTON, ILLINOIS 62002 Phone 465-2546 UFE&CASUAUV ^Thm-DayWeekend" How good it is with O Winston's finer flavor Winston's real, rich, satisfying taste makes any occasion a little more pleasurable. Because Winston always tastes good, like a cigarette should. WarningJhe Surgeon General Has Determined That Cigarette Smoking Is Dangerous to Your Health. KING: 20 mg."tar". 1.4 ing. nicotine, BOX 20 mg."tar". 1.3 nig. nicotine, av. per cigarette. FTC Report APR.72.