University Daily Kansan
Page 9
Dillon Pleases Big Spenders With Deficits
By Lyle C. Wilson United Press International
The U.S. dollar was worth 45.6 cents in October, 1932, in comparison with its purchasing power in 1939. When the Bureau of Labor Statistics publishes its consumer price index for October of this year, the dollar will have slumped to about 45 cents. Not much less perhaps, but overall it adds up to 55 cents in 24 years.
At that rate we will have a two bit dollar in 10 years or so and finally a dollar will be worth a dime, a nickel and a penny. At that point the pensioners, the prudent savers, the family collecting life insurance on a breadwinner — all of these are likely to be out in the woods fighting the squirrels for nuts.
The big-time spenders of the taxpayers' dollars never had it so good in peacetime as during the last three months. These months comprise the first quarter of the 1964 fiscal year.
SOME CITIZENS will not be as enthusiastic as Secretary Dillon about the first quarter treasury figures. These will be citizens with life insurance policies, pensions, money in the bank and other assets measured in terms of U.S. dollars. These big fat deficits gradually are creating a currency inflation that sweats the dollar of its purchasing power.
Treasury Secretary C. Douglas Dillon must have been greatly pleased. He believes big-time spending and treasury deficits are good business for everybody including the common man and, of course, the Democratic party.
Tuesday, Oct. 8, 1963
The treasury does not regularly publish figures for expenditures and receipts It did at one time on a daily basis. What is daily published now is an accounting of "withdrawals" from and "deposits" in the treasury. These figures roughly represent expenditures and tax revenue. The daily figure also includes the public debt, the gold balance and some additional matter, including figures for the same period in the last previous year.
THUS, THE treasury has reported that as of Sept. 3, 1963, withdrawals since July 1, were $31.3 billion compared with $29.4 billion in 1962. Deposits have been $28.9 billion so far this year and were $26.8 last. Since Sept. 30, 1962, the public debt has increased by $7.3 billion to $306.9 billion, a record that should encourage Secretary Dillon, if not the Democratic party.
The U.S. Gold Board, meantime, had shrunk since Sept. 30, 1962 by $485 million to $15.5 billion, a statistic that will encourage nobody unless, perhaps, it be Nikita Khrushchev.
The treasury probably will connect more than $100 billion in taxes in this fiscal year. But that won't be enough to pay the bills incurred by the politicians in behalf of the U.S. government. Deposits so far in this fiscal year are more than $2 billion greater than in the like period last year. But the spenders still are able to get rid of the dollars faster than they roll into the treasury.
It is a fact little noted that most of these tax dollars are from the pockets of the little fellows, the common man. The little guys will find out about that some day.
Humanities Lecture Schedule Completed
THE COMPLETE 1963-64 HUMANITIES LECTURE SERIES, as announced by Prof. Elmer F. Beth, chairman of the Humanities Committee.
Tues. Oct. 15-Dr. Emanuel Winteritz, curator of musical collections, the Metropolitan Museum of Art, New York City.
Tues. Nov. 5—Dr. Bruce Archer Mor-
eral scholar, University of Chicago.
Tues. Feb 18—Dr Bruno Snell, classics
& theater, University of Hamburg, GERM-
NYU.
Tues., Dec. 3—Dr. Richard DeGeorge philosopher, University of Kansas.
Thurs. Jan. 9—Dr. Frederick Norman
Gorman, College, King's College,
London, England
Tues. Mar. 17-Dr. Madeleine Doran
spearepe scholar, University of Wisc-
square
Tues. Mar. 24—Dr. John Hope Franklin
American history scholar, Brooklyn
College.
Tues. April 21- Dr. Albert Marck-
cardiologistics scholar, University of Michigan
All lectures will be at 8 p.m. in Fraser Theater and are open free to the public.)
Two Awards Set Up For Graduate Women
Two $1,500 scholarships have been offered to Kansas women for graduate study by the Kansas Federation of Business and Professional Women's Clubs.
One scholarship will be available for the 1964-65 school year and one for 1965-66.
A bachelor's degree is required for application. Application blanks may be obtained from Miss Audrey Smith, Box 232, Goodland, Kansas. Application must be made before Dec. 15, 1963. The 1964 award will be made early next year.
Hunter Kills Hunter
LA ROCHELLE, France—(UPI)—Claude Auditeau, 28, committed suicide yesterday by shooting himself minutes after he accidentally shot and killed Michel Cointard, 14, while the two hunted pheasants, police said today.
Bruegel's Sketches Shown at Museum
Sunday marked the opening day of the art museum's latest exhibit, a collection of sketches by Pieter Bruegel the elder, and two oil paintings by Nick Vaccoro.
Mr. Voccoro, new chairman of KU's department of drawing and painting attended the opening. He answered questions about his pictures and discussed them with the public.
The Bruegel collection, which is owned by Mr. and Mrs. Jake Zeitlin of Los Angeles, Cal., includes many of the Alpine landscapes for which Bruegel was noted. Interest, however, seemed to focus on the "Seven
Sins" sketches and the "Seven Vittues"
CAP PETERSON, ROOKIE IN-fielder with the San Francisco Giants, is in the middle of an eight-year plan to attain his degree at Pacific Lutheran University. He enrolled at the Parkland, Wash., school in 1960.
Also of interest to the 400 people who attended the opening, was the new fire and burglar alarm system. The new system, which was installed as a result of last year's thefts, picks up unusual noises and degree of heat rise and relays this information to the police and fire departments.
HONN'S COIN OPERATED LAUNDRY
SPEED QUEEN WASHERS OPEN 24 HRS.
Across from the high school 19th & Louisiana VI 3-9631
Auto Wrecking and Junk
Now and Used Parts and Tires
East End of 9th Street VI 3-0956
Kansan Classified Ads Get Results
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EVER interested in modern promotional techniques, exterior garment merchandising-wise, we at Eagle have devoted particular attention of late to the commercial practices of our colleagues in the tunafish, soup and soap lines. It seems that these three diverse industries have all discovered that by offering you a free discount coupon good for three cents off the purchase price of their product, they can lure you down to the neighborhood store. Well, we have been considering various ways to market (we believe that's the word they use) our Inishowen Cheviot Brooketowne. The first two adjectives describe a heavy herringbone oxford designed by our shirting gourmet who describes this fabric as meaty. Brooketowne is our tapered body button-down with the sloppy bulge we used to call flare before everyone else did too. So, tunafish on the mind, we decided to dip into that great fund of American advertising knowhow. Friends! as soon as you've written us to learn the name of your nearest Eagle dealer (not all Eagle shirts have the Eagle label in them, recall), and we answer you, and you need a shirt, run! don't walk and claim your Eagle I. C. shirt at three cents off! At once!
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© 1963 EAGLE SHIRTMAKERS, QUAKERTOWN, PENNSYLANIA
Eagle Shirts are available at Woolf Brothers (Varsity Shop), Kansas City.