The Panola Watchman (Carthage, Tex.), Vol. 107, No. 43, Ed. 1 Thursday, November 29, 1979 Page: 4 of 33
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A 4 PANOLAWATCHMAN Carthage Texas November 29 1979
TA
["Editorials ★ Columns ★ Opinions-]
A heroic mold
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t*emws
y
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Government deficit spending
is primary cause of inflation
A
o
%a%
Learn languages
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years ago re
but I've got the
solution go out and by 22 pairs of
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WRITE YOUR LEGISLATOR:
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404
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I
This need not be so if those in
positions of leadership put political
considerations aside, put a limit
on government spending, and bring
the federal budget into balance now
Deficit spending by government
causes inflation Some argue that
deficit spending alone is not to
blame They say that if government
finances those deficits by borrowing
the currency is not affected
Perhaps not in the short term, but
when government consumes much
of the available capital to cover its
deficits, there are insufficient funds
left for industry to expand, and the
economy slows down Eventually,
government must monetize its
deficits by increasing the money
I checked up on all the Texas U
games for the past four years and
all of our passers keep throwing, to
orange jerseyed players That’s why
Texas scored four touchdowns in six
N
A
supply i creating new money out of
thin air) When that happens each
dollar is worth less
The couple has been very active in the Carthage chapter
of the American Association of Retired Persons and Mary
has been organist at St Paul's United Presbytesian Church
as well as being a member of other civic organizations
Henry is in Room 477. Schumpert Medical Center, 915
Margaret Place, Shreveport. La 71101
SEN. JOHN TOWER
142 Russell
Washington, DC
Telephone 202-224-2934
There will be more calls for wage
and price controls The action of the
Federal Reserve Board to slow the
growth of the money supply will also
slow the economy and bring cries for
more government (deficit) spending
to create more jobs in the public
sector And nothing will have been
accomplished
Many economists now predict that
the U S will experience a modest
recession during 1980, followed by a
brief recovery period during which
rates of inflation will reach 18 to 20
percent, then a very deep recession
There is little hope the problems
can be solved until those It aders who
now refuse to acknowledge the true
cause of infaltion do so
STATE SENATOR
Roy Blake
P.O. Box 12068
Austin, Tx. 78711
Telephone 512-475-2671
minutes a few
member’’
Coach Right’
STATE REPRESENTATIVE
Bill Haley
P.O. Box 2910
Austin, Tx. 78769
Telephone 512-475-3619
SEN. LLOYD BENTSEN
240 Russell
Washington, DC
Telephone 202-224-5922
REP. SAM B. HALL. JR
First District
318 Cannon
Washington. IX'
Telephone 202-225-3035
CAN YOU HELP?
A letter from Charles H Flournoy Jr. of Houston asks us
to help locate a picture that ran in the April 6, 1978 issue of
the Panola Watchman.
The picture was of the Carthage High School Class of 1928
Flournoy says his mother was a member of that class and
he would like to have three copies of the print
The picture to which he refers did not belong to the Panola
PUBLIC SERVICE
As a convenience to our readers, the addresses and
telephone numbers of our legislators are listed at the right
hand side of this column
When the service was initiated last week, Ruel Smiley
asked, "Write them what?" referring to the heading Write
Your Legislator
K " a • " 17 "7
e Copte, me-e
By Jay VanAndel and
Richard M. DeVos
In order to solve a problem, one
must understand its cause This is
true whether repairing a car.
treating the sick, or curing inflation
Statements by too many politicians
and the commentary of some media
experts indicate that there is
distressing lack of understanding of
the cause of inflation
prices even higher food prices
induced by bad weather—cause the
cost-of-living to increase, and these
increases are worsened by the
decreasing value of the dollar, but
increases in the cost of living are not
inflation
Mibu i,
P e ' 0 .
Den:.
Dee 's
Q0
by Doris House
A presidential commission has determined that one of
the threats to the nations security is the woeful inability of
Americans to communicate with our overseas friends or
enemies
A commission study has concluded that we are guilty of
a "scandalous incompetence" in foreign tongues
And it is true that most Americans are scornfully in
different to any language other than English As a result,
according to the commission, we suffer from trade deficits
and an ignorance to foreign customs and thinking
The United States," said the commission, "requires
far more reliable capacities to communicate with its
allies, analyze the behavior of potential adversaries and
earn the trust and sympathies of the uncommitted "
The commission recommended new language programs
to be financed by $178 million in federal and private funds
in the next year
As this country meets its destiny in the American
century, its power has often outgrown its knowledge In
diplomacy, in business, in all affairs of friendship and
leadership, it is better not to have to depend on a trans
lator Language learning is no easy task It should be
encouraged
Think about it If oil prices caused
inflation, Japan and West Germany
would have double-digit inflation,
too West Germany imports about 97
percent of its oil Its inflation rate is
6 6 percent Japan imports 99
percent of its oil Its inflation rate is
6 9 percent But the United States
imports about 45 percent of its oil
and has controlled the price of
domestically produced oil since 1971
The U S inflation rate is in excess of
13 percent (Import figures from
Department of Energy, Summer
1979, inflation rates from Joint
Economic Committee of the Con
gress for 12-month period ending
August 1979 )
Have been missing my (ormer neighbors, Henry and
Mary Lee Recently, each time I have been by to visit my
son and family at my former home. I ve noticed that the
Lee's were away
Henry is a patent at Schumpert Medical Center in
Shreveport and Mary is with him
The Lee's moved to Carthage about two years ago to be
near her only child* Mrs Buddie (Barbara) Bounds And,
they were truly good neighbors to me While I was at the
Watchman working Henry would take care of yard chores
for me like raking leaves or sweeping the drive if I had to
be out of town. I would rest easy knowing that the Lees kept
a watchful eye on my house Mary dropped in often with
goodies from her kitchen
Darrel Hyatt,
Texas University
parents
Thanksgiving d
Mr and Mrs J
were Mr and
Ridgeway, Mrs
of Longview. Mn
Tammy and Tt
Frank Horton of
and Mrs W C N
I
• -e*sa
by Mrs Juhl
tatim I
Mea .r rf.l, ng
• boy born No
Shrpherd Hespit
8 ibs 3 ozs and tl
Jason Arron Gr,
Mr and Mrs 1
Oroak of Hende
Faye Jennings o
Mr and Mrs I
and Mr and M
have returned fl
trip tot olorado I
a eight point ell
killed a 10-point J
Mr and Mrs I
spent Thanksgv
and Mrs Norn
Henderson othe
them were Sperl
daughter in Law
Travis Spences
Springs and Ma
Belton
First, rising wages and prices
were said to tie the “cause" of
rampaging inflation Then came
wage and price guidelines " Infla
tion continued, but the blame
shifted! Now it is OPEC oil that
causes inflation Wrong on both
counts
Government policy causes infla
tion Nothing else OPEC oil
ASMYPRESIDENTAL
EMDoRoRYCOMMfte
Yov KNOW YoURMISS
FINDOUTNHdTMY
CHaNGeS FOKSUNNal
aw DOWN wee-
I know several newspaper publishers who judge a
newspaper by the number of local names in its pages Those
same publishers rate their employes by the same
method-the reporters are doing a good job if they have a lot
of local names in the paper
LETTERS EDITOR
To The Editor
Have you heard the latest Aggie
Joke-’
An Aggie assistant coach was
talking to the head coach at Texas
\& M
Coach. I am convinced that all of
our quarterbacks are colorblind!"
Well, now how do you figure
that”"
_J4aml
)w,i
'
You
and your
Money
by Judith G Rhoades
Q. Which is the safest investment
with the highest return, say with a
monthly check for $100, the interest
on the investment, not including the
original capital? I am 63.—C.F.
1 mon. N.J.
' Considering your age, and the
iaci you may not want to be locked
into a longterm investment. I
believe one of the safer investments
for return on your money without
eating into or disturbing your capital
resources would be the money
market funds Of course, as interest
rates descend, so will the amount of
interest you receive on your
investment
What makes the money market
fund investment good, however, is
that you can invest without a
commission (allowing you more,
return for your money :
Q. I have a problem regarding
some stock which I inherited. It is
called Pacific Nickel Col. and I am
trying to determine if the stock has
any value. As my relatives pass on. I
keep inheriting more shares. Can
vou help me? — S.S. Belleair Bluffs/
Ha
A The papers which you sent me
list the name and addresses of the
Company officers. which suggests
that the company is still ir
existence *,
I suggest that you write to the
president and ask if the shares are
currently trading, where they are
traded, and if they would like to buy
your shares, since you indicate you
want to sell them I am certain you
will receive some kind of answer to
your question Good luck
@he Janola
Wakchman
FOUNDED 1671
Doth D Mouse
President -Publisher
J A. Smith
Assistant Publisher
John Foster, Editor
James L. Hightower
Advertising Mgr
issued each Thursday and Sunday
by Pancta Publishing Co , Inc , 109
West Panola Street Carthage,
Texas 75633
Any erroneous reflection upon the
character or reputation of any
person firm or corporation which
may appear in this newspaper will
be gladly corrected upon being
brought to the attention of the
publisher
Subscription Rates
Payable in Advance
Panola County Area
$9 00 year
Elsewhere in texas
$12 00 year
Other States
$16 00 year
Entered as second class matter at
the post oftice in Carthage, Texas,
15633. under Act of Congress, March
1.1813 USPS Publication No 419120
Postmaster send 1529 to P O Bow
518 Carthage TX 15633
1919 Panola Publishing Co , Inc
All property rights, including any
< opyright interests to any advertise
ments produced by The Panola
Watchman, using art work and or
typography furnished or arranged
tor by us shall be the property of
The Panola Watchman No such ad
Of any part thereof may be
reproduced w thout the prior written
consent ot The Panola Watchman
Doodles suggests that our readers write office holders to Watchman and I do not know who provided us with it. If you
let them know their views on pending legislation And, if for know of anyone who has a copy of the original and who
no other reason than to get things off their chests to let would help Flournoy have copies made, please contact him
someone who can do something about legislation know how at P.O. Box 1388, Houston, Tx. 77001, telephone 713-526-3366
the grassroots section feels He said he would be happy to pay any costs incurred
Many calls are received wanting to know how to contact Ipne wi umv
elected officials, so the list will be a regular feature of the u . : 1 ‘ Hk ...
B Have you noticed how many birds are around that have
25 migrated from the north, and perhaps are making their way
cgc farther south? There are many robins, blue birds,
.. . , ALSEATRED cardinals, etc., in the yard these days
Did you know your friends really want to know if you are During the summer, the birds were not interested in gram
making trips, have guests, giving part.es, etc? And, so do from the feeders at our house That’s different
now They
“ ... are eating it as fast as the feeder can be filled
Please call us. 693-6631,ordrop your news to us at P 0 Doodles is dumb, for a country gal that is: I asked if the
Box 518, Carthage, Tx <5633. and help us let your friends birds were nesting, only to be told that birds nest in
know what s new spring not winter-
That is inflation. and only
government can cause it Not wage
increases, not price increases, not
farm prices, not OPEC oil
It would seem only fair that some of the excess profits to
be drained from the oil companies should tie channeled to
help the poor meet the rising costs of heatng oil this
winter
The administration and Congress have seemed
obsessed in fact with the fear that low income groups
might have to chouse between eating and heating or that
the government would be blamed if welfare recipients
froze to death Thus it is not surprising that Congress has
acted with uncharacteristic alacrity to provide fuel
subsidies The House voted overwhelmingly almost 3 1
to spend $1 35 billion for this purpose outdoing the
Snate which approved a $1 2 billion aid bill a few days
ea rher
But even though the fuel aid concept suggests an
irresistibly easy choice between profit rich oil companies
and freezing poor folks, we can think of no problem less
likely to fie solved by simply throwing money at it
The House bill was designed to help residents of the
Northeast, already stricken by winter storms The
legislation, however, would send checks of up to $400 each
this winter to persons regarded at the poverty income
level in all states and territories, including such sun belt
areas as Florida, Arizona California Hawaii and the
Virgin Islands A complex allocation formula calls for
larger sums and tax credits to those states with the coldest
weather and the greatest number of low income persons
Basically, the fuel aid checks would go to everyone
enrolled on welfare food stamps or supplementary Social
Security for the elderly more than 25 million persons
Washington has not figured out even with computers,
what todo about the three or four million persons enrolled
in more than one of these programs who therefore are
slated to receive duplicate fuel payments
Nor does Congress seem worried that the poor are
largely renters who already receive rent subsidies and
share public housing that fuel bills are for the most part,
the landlord's problem Nor does Congress seem
concerned that a bonus fuel check is likely to wind up in
the hands of aggressive bill collectors or lie squandered
loi purposes other than fuel
And can there he any doubt that this stop gap fuel aid
will become a permanent, openended extension of the
federal welfare program that now numbers 182 programs
accounting for transfer payments of some $250 billion
annually" Moreover is it not apparent that the taxing of
I S oil producers for the benefit of millions of consumers
can only inerease our dependence on the OPEC cartel’
And conversely, wouldn t these millions and billions of
dollars for fuel subsidies tx- better spent now and in the
f ul lire* on alte i native fuel research that would offer lasting
benefit to all Americans, the low income first and
foremost"’
These questions do not deny instances where
supplemental public funds should Im* provided this winter
lor persons in known circumstance's of need Such need
can best be determined and lie met by welfare agencies at
the local level The trouble, of course, is this limited and
sensible approach is not likely to win many votes it's just
not cast in the heroic mold Congress and the
administration are accustomed to
rose colored glasses This team can
at least be happy about throwing all
those interceptions." Did you get it?
Here is a good motto to live
by Laughter is the best medicine"
quoting Proverbs—you look up the
chapter and verse—it'll do you good
Do you know where the Ayatollah
Kohemeim went to college9"
No — I don't, but the way he is
running Iran he must have taken a
Texas Aggie extension course in
public relations!
Well, that's all for this time
you ll hear from me next week
lake care and look out for the
other fellow'
Tom Westbrook III
Texas A&M class of ’45
Beat Texas in 79"
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Foster, John. The Panola Watchman (Carthage, Tex.), Vol. 107, No. 43, Ed. 1 Thursday, November 29, 1979, newspaper, November 29, 1979; Carthage, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1517840/m1/4/: accessed August 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Sammy Brown Library.