PAGE 8
THE DECREE
TUESDAY, NOVEMBER 12, 1974
Volley Ball Arrives At Wesleyan
By BETSY TWTODY
The 1974 NCWC girl’s
volleyball team is comprised of
two seniors, Jo Wheeler and
Robin Rider; three sopho
mores, Carleen Goodwin, Betsy
Twiddy and Nona Cook; and
three freshman Gaye Slaugh
ter, Karen Fellman and Cyn
thia Alston.
This year’s team carries with
it an interesting combination of
talent and undeveloped skill.
The team has two wins under
it’s belt and hoping for a lot
more. The first win came at a
Tri-match with Queens College
of Charlotte at St. Andrews.
This past week we had our
second victory beating Chowan
—on the 10th here at Everette
Gymnasium.
Hester Comments!!
NEWS BUREAU—In answer
to inquiries from a number of
. interested citizens, Edward L.
Hester, assistant professor of
economics at N. C. Wesleyan
College, comments on Presi
dent Ford’s recently announced,
measures to combat inflation.
Hester graduated from UNC-
Chapel Hill, earned his master’s
degree in economics at N. C.
State University, and is com
pleting his doctoral require
ments in economics, also at N.
C. State.
“President Ford’s proposals
to Congress to curb inflation
have stirred considerable com-
Gerald Ford
ment by citizens in the Rocky
Mount area.
“The first impression one
gets is that Mr. Ford is leaving
the fight against inflation to
Arthur Burns and the Federal
Reserve System. His program
can hardly be called an anti
inflation program. Instead it
seems to be a vehicle to give a
break to everyone but the
middle income wage earner and
the small businessman. These
two unfortunate groups are
admonished to grow more,
waste less, drive less, and heat
less.
“The President’s plan is, if
anything, inflationary. Tax re
ceipts from the surcharge
proposed should raise 4.7 billion
dollars, but all of these funds
and more will be spent again to
carry out the other programs
proposed.
“Three billion dollars will be
funneled into the mortgage
market to encourage increased
spending on housing. Increased
corporation spending on in
vestment goods is encouraged
by a tax investment credit
which more than offsets tax
liability of 2.1 billion dollars due
to the surcharge on corporate
profits.
“So long as interest rates
remain very high, the proposal
to make preferred stock divi
dends tax deductible are un
likely to have much impact
upon new corporate equity
financing, but if rates come
down due to the failure of the
Federal Reserve System to
meet inflation head-on, an in
flationary surge of corporate
investment may well occur.
Putting additional purchasing
power into the hands of private
citizens, with high spending
rates through additional unem
ployment compensation pay
ments and benefits to the poor,
must also be inflationary.
“In short, if carried out
President Ford’s program will
probably worsen the upward
pressure on interest rates and
perhaps force the Federal Re
serve System to relent in its
efforts to cool the economy. The
final result may well be worse
inflation by next year unless
monetary officials can hold
firm.
“Notably, the administra
tion’s conservation proposals
come out as shallow also. Ford
suggests a goal to reduce pe
troleum consumption by a
million barrels a day. This goal
would presumably reduce im
ported petroleum from 40 per
cent of our daily needs to 37 per
cent of our daily needs—a
reduction one can hardly take
seriously.”
Professor Hester’s comments
are based on a review of
President Ford’s program
which is: 1) temporarily in
creased personal and corpor
ation income taxes; 2) extended
unemployment compensation
benefits; 3) an investment tax
credit boost; 4) a suggestion to
allow deductibility of preferred
stock dividends; 5) a modest
increase in federal mortgage
monies to aid the housing
market; and 6) an enlarged
public service jobs program for
unemployed person.
Coupled with these proposals
the President suggests pro
grams to stimulate domestic
production of foodstuffs and
energy fuels, and endorses
legislation in Congress to in
crease transfers to the poor by
1.6 billion dollars.
PEPSICOLA
You ve Got k
Lot To Live
Pepsi's Got A
Lot To Give
Schedule:
Sept. 26
Meredith
Away
7:00
Atlantic Christian
Sept. 30
Atlantic Christian
Away
7:00
Oct. 2
St. Andrews
Away
7:00
Queen Anne’s
Oct. 10
Chowan
Home
7:00
Oct. 17
St. Andrews
Home
7:00
Atlantic Christian
7:00
Oct. 28
Chowan
Away
7:00
Oct. 30
Louisburg
Home
7:00
Nov. 5
Louisburg
Away
(L)
(L)
(L)
(L)
(W)
(L-1, W-1)
(L)
(L)
(W-1, L-1)
(L)
One thing this year’s team is
striving to accomplish over last
year’s team is to draw en
thusiastic support—so come out
and cheer the girls’ volleyball
team to victory!
Generous
American generosity is some
times overwhelming. There’s the
outfit that’s already collected
over $5 million — and they don’t
even have a disease!
i
The 1974 Wesleyan Volleyball Team: left to right—Jo Hickman, Manager, Gay Slaughter, Nona
Cook, Cynthia Alston, Robin Rider and Head Coach Don Scalf. Back row: Karen Fellman, Jo
Wheeler, Betsy Twiddy, Carleen Goodwin.
CAIRN
w accepting contributions in
PROSE POETRY GRAPHICS
& PHOTOGRAPHY
for the 1975 issue
Send contributions to:
Ms. Jeanette McClelland
Box 732 St. Andrews
Laurinburg, N.C. 2 8352
Please Enclose
A Brief Biographical Note
TkP
n
Deadline: Christmas 1974
Cash awards in all areas