Northwest Arkansas Times from Fayetteville, Arkansas on October 27, 1974 · Page 32
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October 27, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 32

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Fayetteville, Arkansas
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Sunday, October 27, 1974
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8D · Northwest Arhanwts TIMES, Sun., CM. 27, 1974 FAYETTEVILLE. ARKANSAS ' Gerald Ford: In Perspective (CONTINUED FROM PAGE 7D) i a t so me time mandatory con- run- for President In 1976. As President, you say you probably will run -- " ' Probably." "Probably. What changed your mind?" ·He said the statement was made not just to get more clout with Congress than would normally accrue lame duck. to a two-year "A two-year presidency," he said, "was not sufficient to do the things ... lhat had to he done. (We need) continuity in foreign policy, continuity in domestic policy." The continuity was inter- rupled by Ihe appearance of a steward with a tray. "You going lo feed us again?" asked an amazed Gerald Ford, Ihe national cheerleader of tile take-all-you-wanl-bul- eiit-all-you-tiike m o v e in e n I "You're going to get me back over 200! All righl, I'll lake an- Irols have gotten us out of a problem but they haven't." "Didn't they keep inflation down during World War II?" Rumsfeld: "They held Ihe prices down but you didn't have ihe product ... The goal of the country is not to have no prori- ucl and low prices. The goal is to have a product and reasonable prices ..." The President: "As I the history, prices we.- down up until lale '45 ... "Just another option" "Right." "Thai somebody over (here the n up u n all of a sudden the w a r was over and the whole price restraint program went to hell." "But then that's still four years or so in which they were they were held held down." "Yes. but olher one of these." The President declined the down for the reasons that Don said.-" NO SUPPLY Rumsfeld: "Because there was no supply. Hell, we could have automobiles today at one was considering Whether that somebody was Mr. Nixon you didn't know?" Gerald I''ord shook his head. "When Haig brought up the option of a pardon of one President by the new President, die you make any olher specific response other than to ask aboul (he pardon powers of a Presi- L'llU" "As I said in my testimony," President Ford said patiently, "after we'd gone Ihrotigh this five-or six-option situation, said to General Haig, I wanlet lo talk the next morning ... I said Iwo Ihings. Number one I've got to lalk lo (Mrs. Ford because he put it very bluntlj lo me. He said, Are you read; to lake over the presidency?' "I said, 'This is a total shoe! to us. Number Iwo, I Ihink ought to talk to Jim St. Clai ;White House attorney) food hut accepted another bourbon, a gesture followed by his patriotic visitor. He watched the dinner Iray being inheriled by Donald Rumsfeld. ECONOMIC QUESTIONS "Look al Ihe New York'sir- loin!" said Ihe President. "My God!" Rumsfeld fell lo, anyway. "A few queslions about Ihe economy. When does a recession become a recession?" (The President has said the country is not in a recession.) "Well, here's something I think we have to raise. This is a matter I discussed with Alau Greenspan (chairman of the President's 'Council of Economic Advisers)* the other day. Experts, economists and others, develop labels for categorizing something if one, two, three, four, five Ihings happen. "If Ihose things happened in the traditional sense over the last 10 years, you could say this or this was Most economists today agree we're in the unique circumstances you've got double-digit was a recession something else, mists most where _ o __ inflation and yet a certain sofl- ness in the economy. "And lo use Ihe same labels for unique circumslances is inaccurate. We either have to -well, we probably should get some new labels to meet new circumstances. Now, that's hard to develop in a political year ..." The President said some traditional criteria of a recession now exist in rising unemployment, a developing inventory backlog and a "cutback in consumer confidence." He continued: PULLING AND HAULING "On the other hand ... you've got extreme shortages, where they can't gel materials, they can't get employes, they're begging for both raw materials and labor. So you've got this pulling and hauling lhat's too unique at this time to use the same labels. It's kind of out of style. And that's what we're trying gram. you can't go too hard', you can't be too soft ..." "What would it take in the economy and energy situation to bring on those tougher measures you hinted at?" "In energy we could really put an embargo on foreign imports which would have a much more severe impact oh' availability and supply." "What would it take to do "The failure of the Congress or the public to respond. Congress, if it failed to increase supplies, and the public's failure to conserve." "Are you philosophically opposed to wage and price controls as something to be used only as a last resort? What would persuade you they were necessary?" "Outside of an international crisis of major proportions -- " "'"--· see no reason to have dollar by having no automobiles. You see? ... " II seemed an appropriate 'ime to turn to the pardon. The President had told Congress now stunned he was Aug. 1 when Gen. Alexander M. Haig Jr. told him about new and devastating Watergate evidence and that Ford was likely to become President very soon. "What were your thoughts then'.' How did you sleep that night?" "Let me just tell yon something." Gerald Ford said over Ihe roar of the jet motors. "Al came to see me late in the afternoon. I had a date with Betty to go out to the Massachusetts residence (the newly designated home for vice presidents) to spend an hour with her to make some final decisions to find furniture for us to live there. "I went through this routine for an hour and she had all these plans where this piece ol furniture was going here and that was going there. Then I went back lo the office. Then I went home and while we were changing clothes (for dinner) I said, 'Betty, the probability of us living in lhal house is very remote.' "And I told her what had happened two, three hours before. I took a half hour to tell Betty that everything she had planned and worked for was probably oul the window Because it wasn't going to happen CONFIDENT On the three following davs Aug. 3-4-5, Vice President Ford continued publicly lo express confidence in President Nixon's innocence better. lo or read tlv of the crilica you might pardon?" lad listened .ranscripts June 23rd tape ..." "Was there any kind of spon vaneous, off-the-cuff, lemporar sort of reaction on your pai that could conceivably have le] Haig with the impression tha be favorable to "None whatsoever." The President took a long si of his drink. In the silence, h looked out the window. "Can you say now, Mr. Pres dent, what your view is of you predecessor How do you' plain him in your m i n d ? " There followed a long seemingly painful pause. The he said, softly, "I really don Ihink I ought to go inlo lhat." "Can you tell me about th. last long conversation you ha w i t h the President on Aug. 8? "He was the most controlle person. I wondered how an., body could be that controlle under those circumstances. A as -I recollect the first stat menl, he said to me, 'Jerry, you'll do a good job.' What do I say then? I asked for any suggestions. 1 ' The 37th President and t h e 38th President then had a 'very practical, very helpful Aufo r Housing Industries Face Recession, Oil Profits Boom NEW YORK (AP) -- Chair- inn Lynn Townscnd of Chrys- r Corp. said this past week ml Ihe auto and housing iu- usiries were on Ihc brink of erio'us recession and President ord's economic advice hadn't elped. "lie urged people not to buy, nd they're not buying," said ownscticl, whose company an- onuccct the day before that it ad lost $8 million in the third uarter. Towiiseiul said that instead of rging Americans to cut their nying, he should tell them to lend. He said (he government hould also ease credit controls and pul n moratorium on nny urlhor requirements for safety or anti-pollution equipment on Townsend's remarks came the day it was announced that the rate of new car sales for Detroit's aulo producers in mid-October was down 28.4 per cent from a year earlier. Sales at Ford Motor Co. and Chrysler were bolti off about 18 per cent. The drop at General Motors Corp. was 34 per cent; at American Motors, which lias not yet put iU 1975 models on the market, the decline was 46 per cent. Townsend said that in spile of the declining sales. Chrysler I planned a second price hike. He said increases averaging $400 a car last month still left the company with an average of $250 in unrecovered costs per car. Generally, if demand for a product declines, the prices follow it downward. But the Chrysler chairman said Nixon administration economic controls had caused dislocations which still hadn't worked themselves out in the economy. General Motors said Friday slower sales, strikes and rising prices cut its third quarter profit to a mere $16 million, or n nickel a share, down from a record ?2Q7 million, or 92 cents a share, a year earlier. GM, the nation's biggest manufacturer, said it had been absorbing cost increases of more than .$300 a vehicle during 1972-74 price controls and was now absorbing $550, including $100 in costs added just since the start of ttie 1975 model year. Earlier in the week, GM had announced about 6,000 workers were being laid off because of sagging aulo sales -- the first time in recent history that layoffs had been ordered so early in a model year, Exxon Corp., the worliTs biggest oil company, Bald this past week that its, third-quarter pro- its totaled $800 million, up 25 per cent from the year before on a 03 per cent gain in revenues to $11.94 billion. · Even larger giilns wer» re^ ported by somo other major oil companies, ! Gulf Oil said its profits were up 31 per cent at $275 million,' Cities Service up 76 per cent at $45.8 million, Indiana Standard, 101 per cent to $296 million,Phillips Petroleum 110 per cent to $112.9 million, Continental Oil 122 per cent to 5120,2 million and Shell Oil. 158 per cent lo $216 million. although he knew You continued to say these nings because you couldn't be in the position of seeking to effect his resignation?" to do with (our) pro- We had people saying "For rny own personal be discussion icy, very about foreign pol- high level." Nixon, extolling the abilities of his secretary of state, "strongly recommended" that Ford relain Henry Kissinger. "Did you have much to say?" "No ... He lhanked me profusely for defending him." And now, at the end of our interview, came the longest of pauses. Gerald Ford silently shook his head side to side and seemed on the edge of tears. Finally, he said: "He was strong What the hell do you say in those circumstances?" ,.. ,, ~ -- -· ·· ·· " I'^ioujjai udlu. -,,, M r a l d Fw ' d said ' nodding. Well, that was one priority And yet here you were clearly about to become President of a very skeptical nation. So another priority had to 'je your credibility. Was that a priority?" '.'Well. I had to weifjh ihose priorities. And I put things on ne scales, and one outweighed " l e , ?«?,«·· And it did affect my ^ r ll 5t But if ymi wil1 reaa " somo of those questions and answers (in those three" days) I was less enthusiastic t h a n I had n ... But how you could Change dramatical!/ without * "You them?" "It has to be a VERY major international crisis don't depicted as a seeker o A , . hint hmi Ihe was the hard one." question ariscs ab °"t k !, Wlth Goneral Haig "n 2: Did you TM nsid ^ all as any kind of an fr TM President Ni x l n ixon White House? fl \J T -,- , ··""-,- J1UUSU: rm,v ' if d ' d n ( ) t -Not at all. I r nrf J ? dUrmg " lat W h ° l c I nod but more specifically in , , he would come over lo the Several office and kee bring p me posted me up to date. Admit- see anything domestically that would precipitate it." FAITH SHOWN "Mr. President, you show a great deal of faith in voluntary methods. I'm trying to recall another time when voluntary methods got us out of a real economic crisis. Did you have something in mind?" "I think this is a unique situation. There's no war. W a r seems lo have been the catalyst in the past ... This is so unique domestically that I think you can relate it lo a wartime situation." At this point, Donald Rumsfeld, who used to be head of Nixon's Cost of Living Council, came up from his steak and down hard into the conversation. "Your question," he said, "historically is not accurate because it suggests that in history ,. 1973 TOYOTA CARONA 2-door hardtop, automatic transmission, factory air conditioning, local one owner, 12,000 miles, in showroom condition. Wheeler Motor Co, PHONE 443-3458 m J244 N. College Eta (Highway 71 North) Open 8 to 7 *o^l iu- -- ."·*-. mimiL- edly, this was ... totally start ing and stunning. But I had Mat morning a meeting with him, which seemed ralhtr rou tme, at- about.8:30,or 9. Aug. 1. EMERGENCY But then about noon or between 1 and 2 o'clock he called and asked if he could see me on an emergency basis ..." 'As the general told you ol the options being considered at he White House-and I gather tliat s all he said--being considered at the While House. He didn't say the President was considering them? "No. He said the White House." "As he went through the options and got to the question of a pardon of Mr. Nixon by Mr. Ford, did you have any reason to feel this was kind of a probe or feeler?" . "No. There was just Ihe option lhat somebody over there -- I don't know who --" Campaign Letter Brings Windfall PHOENIX, Ariz, (AP) -Rep. Sam Steiger s a y s he's more surprised lhan anyone that his campaign for a fifth term produced a windfall $228,540 by Sept. 1. Common Cause says the figures Steiger reported make Ivim the top fund-raiser among this year's House candidates. The 45-year-old Arizona Re publican, an opponent ol public :inancing of political cam paigns, says $100,000 of the un [impeded donations won't he used this year but instead arc helping to set up a fund for fu ture campaigns. Steiger credits his fund-rais ing success to a letler sent ou in September 1973 to con servalives across the country 11 conveyed an endorsement o Steiger over the signature o Arizona Sen. Barry Goldwaler. But the response topped evci Golriwater's fund-raising ef forts, which Goldwater has re ported as $195,280 at a com parable point in the campaign. "I was told by Ihe profes sional fund raiser we could ex peel to get $25,000 to $45,000, said Steiger. "Instead i amounted to $228,000 by June with a net after expenses o $160,000." Steiger says he expects to usi $45,000 to $00,000 of the pro ceeds of the letter in this year' campaign against Democra Pal Bosch, 44, a Phoenix publi rclalions writer and housewife. He said 10,780 contribution averaged $19 each, with 70 ove $100 and four of $1,000. Judge Retires ST. LOUIS (AP) - Pat Me haffy, who retired as chic judge of the U.US. Blh Circui Court of Appeals on Aug. 31 was the first Arkansas' nativ lo serve in that position. Puzzle On Page 3-D Dresser Master Bedroom INCLUDES 60" TRIPLE DRESSER. 28" X 36" MIRROR AND CANNONS ALL BED 5 DRAWER CHEST COMMODE $00 Beautiful New Bedrooms in the Inviting Warmth of Richly Grained PINE with Perfectly Matched "Pionite" High Pressure Plastic Tops. . . Sofa Love Seat or SOFA, CHAIR and OTTOMAN WAIII- flmira 100% DUPON NYLON COVER - QUILTED | UUl ^Hwl^fJ 100% DUPON NYLON COVER - QUILTED CHOICE OF 2 COLORS Heavy Hardwood Frame with all Corners braced, dowelled, and glued. Solid rail Front edge. Reversible Crown seat Cushion. Curved arms with Foam filled attached Pillows. Foam filled shaped attached back cushions. LINKWAY HARDWARE-FURNITURE-APPLIANCE 1535 N. COLLEGE-FAYETTEVILLE

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