Pritchard-
(Continued from page 1)
in my investing ability to try that. "I did forecast the post-war inflation. So I sold my bonds and insurance and bought common stocks."
Convinced that inflation is here to stay, he advises his Personal Finance students against buying life insurance as an investment, since it has a fixed-dollar return.
Of course this has not endeared him to local insurance salesmen who work the student market. He points out, however, that he is not against insurance — so long as it is bought as insurance, and not as an investment.
REGARDING THE stock market he says:
"I have never lost a penny on a single stock, because I don't speculate. I invest. I have no inside information, so I buy only the stocks of leading corporations — and they're not hard to identify."
Pritchard sees this country's "inflexible price structure" as perhaps its basic economic problem. Last year he spent several hours explaining this to members of the Young Americans for Freedom, (YAF), who were making a vain effort to conduct a poll of faculty attitudes about such things as government intervention in the economy.
"THE YAF TAKES the position that government intervention is nothing but a subversive scheme advanced by a bunch of evil men in Washington," he says.
"They don't understand that government intervention is a natural result of private intervention — that is, monopoly elements in the price structure.
"American businessmen have destroyed the self-regulatory economy through monopolies. Monopoly prevents price competition. It is the death of capitalism.
"IT TOOK government intervention to get us out of the depression, and we've had it ever since because we aren't willing to let people starve to death.
"The rich were scared to death in the Thirties, and they considered government intervention as a cheap price to pay to avoid a revolution."
Pritchard's encounter with the YAF last year was not a new experience for him, for he has had his ideas investigated by professionals.
He tells about the time in the early days of the war when he was invited to make a speech to a gathering in Iowa.
"AT THAT TIME a lot of people were worried about the three or four billion dollar deficits the government was running. Well, I got up and told this group that before the war was over we would acquire a debt of 300 billion dollars or more, which turned out to be a little overly pessimistic.
"A local banker in the audience got mad and called up the F.B.I. An agent came out and investigated me for four days and then filed a report."
Recalling the speech now, he says with a chuckle;
"I guess I should have said something conventional — something about how we had to win the war."
Jayhawker Edition Out Next Week
The fourth edition of the 1963 Jayhawker yearbook will be distributed from Monday to Thursday of next week at the information booth on Jayhawk Boulevard.
Jerald Pullins, Council Grove junior and business manager of the Jayhawker, said students should present their fall fee receipt card to obtain the last edition.
He said that if a student does not have his fall receipt, only the last edition can be picked up. A duplicate KU identification card is necessary to secure previous editions, if the fall receipt has been lost.
Students who wish to purchase the Jayhawk may buy each individual section for $1.25. The cover is 90 cents.
Pullins said next week is the last time to obtain this year's Jayhawker.
L&M GRAND PRIX 50 WINNER'S CIRCLE
Tempest Winners... Final Lap!
George P. Knapp
U. of New Hampshire
Alec R. Bobrow
D D I
Larry W. Foster Millikin U.
Joseph L. Pap Oklahoma State
Neal H. D'Agostino Cornell
Richard W. Berger West Virginia U.
Vernelle Daily U. of S.W. Louisiana
Joy C. Greenwood Sacramento State
David G. Taylor Lamar St. Col.of Tech,
William W. Seegars U. of South Carolina
Lauren J. Hart South Dakota Tech,
Linda L. Merron
Bucknell
Bruce L. Baird Vanderbilt U.
Arnold J. Houchin, Jr.
U. of Kentucky
Vincent Pierdominici, Jr.
Lowell Tech.
Cecil J. Ewing
U. of North Dakota
William G. Whitten Kent State
George C. Anderson Williams
Lee R. Hoffman U.of Connecticut
Elfreda M. Lobbia Indiana State
Coming next fall...a new L&M GRAND PRIX 50 for 1963-64! Add your name to this growing circle of winners!
Final Lap Consolation Prize Winners!
Louis J. Lobsinger
U. of Detroit
Roger E. Gorlicki
De Paul U.
Stuart Strenger
Georgia State
Stanley J. Foust U. of Oklahoma
Judson K. Farnsworth Northeastern U.
Raymond T. Joyce, Jr.
Bryant College
John C. Lavery U.of Kansas
Linda Ivancevich
San Jose State
Cheryl A. Moore
Portland State
FOR THE CONSOLATION PRIZE WINNERS RCA Victor RCA's 4-speed port-able stereo hi-fi set, "The Walz."
Charles Perry, Jr.
Providence College
Consolation Prize Winners...Laps 1,2,3!
William L. Bradley Louisiana State
Billy D. Farris Sam Houston State
FIRST LAP
Hubert F. Tett
Iowa State
FIRST LAP
SECOND LAP
Baxter Myers, Jr.
Stephen F. Austin State
George F. Smith San Jose State
Harold L. Schild U.of Illinois
Michael B. Reed Ursinus College
Richard Friedlander
C.C.N.Y.
Rochelle Tandy
Pembroke College
John M. Mulcahy
U. of Connecticut
Brian F. Goodrich St. U. of N. Y. (Albany)
Tempest Winners...Laps 1,2,3!
Sylvan Gordan Cal. State Poly
Rev. John Thompson Gannon College (Fac.)
Michael J. Kopcho
Duquesne
James W. Mize U.of Texas
FIRST LAP
THIRD LAP
John N. Bierer The Citadel
Roger P. Blacker
N.Y.U.
Ashton B. Burke U. of Kentucky
William P. Martz Kent State
Lucy Lee Bassett Emory U.
SECOND LAP
Richard L. Smit U.of Michigan
R. Montgomery, Jr.
Texas Tech.
Jose M. Martinez Gonzaga U.
Roger A. Kueter Loras College
Earl F. Brown Colgate (Fac.)
Cdt. B. R. Gardner V.M.I.
V. M. McManamon DeVry Tech. Inst.
H. H. Anderson Okla. State (Fac.)
David E. Lloyd San Diego State
R. I. Salberg, Jr.
U. of California
THIRD LAP
John V. Erhart
Loras College
Gary L. Lewis
U.of San Fran.
Byron D. Groff Penn State
D. B. MacRitchie U.of Michigan
J. L. Millard, Jr.
Ft. Hays State
J. O. Gallegos, III U. of New Mexico
N.T.G. Rosania S.
Kansas State
James W. Todd
Valparaiso U. (Staff)
Justin C. Burns
St. Bonaventure U
W. T. Oliver Lafayette College
Edward R. Wassel Clarkson College
G. J. Tamalivich Worcester Poly (Staff)
Morris S. Beyer U.of Georgia
Ancil K. Nance Portland State
P. S. Holder, Jr.
St. Mary's U.
Get with the winners... far ahead in smoking satisfaction!