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UNIVERSITY DAILY KANSAN, LAWRENCE. KANSAS
TUESDAY,OCTOBER 17,1950
Get Set For A Shock, Folks The 50 Cent Dollar Is Coming
Washington—(U.P.)—The 50 cent dollar is just around the corner and coming fast.
That is bad news for folks on fixed incomes. With a 50 cent dollar they will be able to buy just half as much of most things they need as they could buy in the comparatively good old days of 15 years
Their savings will shrink along with their purchasing power. If you have in the savings bank or in bonds the same sum of money you had in 1935, for instance, it actually is worth only a little more than half as much in terms of consumer goods.
Take U.S. Savings bonds. They were issued in 1955 as "baby bonds." In May of 1941 the treasury switched to the issue of "E" bonds, the kind you buy on weekly deductions from your pay check. Most of these bonds are purchased in $25, $50 and $100 values. Since the Korean war began the owners of those bonds have been cashing them faster than they and others have been buying them.
The treasury thinks the hike in number of bonds cashed since the Korean war reflects scare-buying by persons who wanted ready money to get things they thought would be unobtainable later on. The treasury probably is right about that.
But maybe the excess of cashed bonds over bond purchases reflects a feeling among people that bonds with a fixed return are not the best possible investment right now. The Federal Reserve index of consumer prices, based on a previous period of years rated as normal, fixes the value of the dollar for 1935 at approximately $1.02. A dollar then would buy two cents more than a dollar's worth of goods.
In May, 1941, when the first "E" bonds were issued the reserve figured the dollar was worth just more than $0.95. It would buy about five cents less than a dollar's worth.
As of Aug. 15 this year, the reserve valued the dollar at approximately $0.58. That is a short change of 37 cents purchasing power to the person who bought "E" bonds in 1941 and cashed them in August.
Next May the first "E" bonds will reach maturity. If the present trend continues we will be much nearer to maturity than if the short change will be even more.
The foregoing is true of any investment with a fixed return. Fixed income and fixed returns take a liking in times like these and these times are going to last a long while.
But the dollar might start back to $0.75 or even $1 if congress and the President would get together on a tax and economy program which would permit the government to live within its income.
Official Bulletin
Tuesday
Phi Sigma, 8 tonight, 417 Snow. Dr.C, S.Smith, speaker.
Art Education club coffee, 4 today,
332. Strong.
Theta Sigma Phi club party, 5 to 6 today, English room, Union. All women interested in journalism invited.
Le Cercle Francais, 7:30 p.m. mercredi, 113 Strong. Tous ceux qui s'interessent au français sont cordialne invites.
Coke party party, 5 to 5:30 p.m.
Wednesday, Union ballroom. All freshman women not living in dormitories, interested in becoming freshman representative to A.W.S.
senate, are invited.
Sigma Pi Sigma, 7:30 p.m., Wednesday, 210 Blake. Dr. N. Storer, speaker.
Society of American Military Engineers, 7:30 p.m. Wednesday, Military Science building lounge. Col. Kumpe, "Military Research and Development."
Square Dance club, 7:30 p.m.
Wednesday, Recreation room, Union.
Sigma Xi business meeting, 7:30 p.m. Thursday, Union ballroom. Public lecture to follow at 8 p.m. Prof. J. H Burckhalter, speaker.
Red Peppers, 7:15 p.m. Thursday.
101 Snow, Bring 50 cent dues.
Fubright Scholarship applications for 1951-52 due Oct. 31. See Dr. J. A. Burzle, 304 Fraser, for details.
Student Religious Council, 4 p.m.
Thursday, Myers hall.
W. A.A. Mixer, 7:30 p.m. Thursday, Robinson gym. All W.A.A. members attend. Business meeting games and refreshments.
Kappa Beta, 4 to 5 today, Myers hall. If unable to attend, call Fay Ellenbond, before Thursday, phone 1315.
Lutheran Student association weekly Bible discussion groups, 10 am. Wednesdays, 2 p.m. Thursdays, Myers hall.
Social Work club, 4:30 p.m. Thursday, East room, Union. Miss Esther Twente, speaker. All invited.
University Players, 4:30 today. Green hall. For all old members.
NCE upon a dime
I spent same on two big five-cent Tootsie Rolls. I slipped them into my pocket . . .
then called on my date.
At first we found one interesting topic after another. Then we ran out . . . of topics . . .
she saying "I'm longing for even a tiny bit of something sweet" . . . and that reminded me. I passed her a TOOTSIE ROLL . . .
I went to work on the other, Briefly . . . let me say . . . did I make a hit! That chocolate piece of candy sure wins 'em . . . just as it won me years ago! Try 'em!
Should Get Milk In Early
St. Paul—(U.P.)-Get your milk off the doorstep early and you'll get better milk, advises D. V. Josephson, professor of dairy husbandry at the University of Pennsylvania. He told a farm meeting here that sunshine changes the flavor of fresh milk and destroys some of the vitamins.
Mail subscription: $3 a semester, $4.50 a year, (in Lawrence add $1.00 a semester postage). Published in Lawrence, Kans. every afternoon during the University year except Saturdays and Sundays. Accession periods. Entered as second class matter Sept. 17, 1910, at the Post Office at Lawrence, Kans., under act of March 3, 1879.
University Daily Kansan
Patronize the Advertisers in the University Daily Kansan.
Campus Interviews on Cigarette Tests Number 4...THE COMMON LOON
Our fine-feathered friend isn't being "taken-in"
by all those tricky cigarette tests you hear so much about! A fast puff of this brand-a sniff of that. A quick inhale-a fast exhale-and you're
supposed to know all about cigarettes. No! You don't have to rely on quick-
tricks. The sensible way to test a cigarette is to smoke
The sensible way to use a cigarette is to smoke pack after pack, day after day. That's the test Camel asks you to make...the 30-Day Mildness Test Smoke Camels—and only Camels—for 30 days. Let your own "T-Zone" (T for Throat, T for Taste) be your proving ground. And when you've tried Camels as a steady smoke, you'll know why...
WON MEN
More People Smoke Camels than any other cigarette!
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