Washington News
WASHINGTON. D. C. — The
government ended the fiscal year
on 10th June with slightly more
than • billion dollar surplus—the
first time since 1829-30 that
Washington ha* operated in the
black for two year* in a row.
Of courte, the amount of the
surplus was a disappointment to
some. Had business and profits
held up in ISM at the I960 rate of
increase, the surplus would have
been near *2400,000,000. Even
six months ago there were predic
tions that it would total J1.800,
000,000.
The billion dollar surplus is an
achievement in itself. But it would
not have been realized had not
several programs turned out to be
less expensive than anticipated.
The foreign military aid pro
gram, the soil bank program and
market support provided the Fed
eral National Mortgage Associa
tion took less money than expect
ed in fiscal 1907.
But military spending in the
Department of Defense consumed
more than expected. Whereas last
year this time, defense buying was
running behind estimates, it is
now ahead of estimates. So the
actual money plunked out in fis
cal 1957 was higher than antici
pated. Taxes collected were also
lower than they might have been.
The surplus resulting was there
fore a billion dollars.
Whether the surplus, and now
r
i
disapf>otn«ing economies b • i ■ g
voted la Congrats, will U«rve
enough margin to allow a sizable
tax cut is a close question at the
moment. As usual the first months
of Congress produced s mislead
ing picture and much of the con
gressional ballyhoo about saving
billions of dollars here and then
has turned out to be just that—
ballyhoo.
The Administration, It's now
clear, is going all out for some
reduction in armament burdens.
Washington has made several
changes, or concessions, in the
talks now in progress in London
in recent days. We are ready to
talk banning the use of nuclear
weapons, for example.
The official altitude is one of
willingness to try an agreement
that can be effectively policed.
Whether the Russians will double
cross us, again, as they have us
ually done when it suited Mos
cow's convenience remains to be
seen. If Moscow keeps its word on
disarmament a great benefit to
mankind will result, and the pos
sibility of atomic war will be re
duced.
Interest rate* continue to rite,
in accordance with the Admini
stration's economic policy of mak
ing money too hard to borrow—as
a means of checking inflation.
The inflation, of course, continue*
as prices are hiked and wages go
up, but the little man outside the
fold of certain organized indus
tries, and the farmer continue to
be squeezed.
The bad part of it is that high
loan rates make it tough on the
poor, who must borrow . money.
They make it difficult for business
also, which must used borrowed
capital to expand. The poor man
who must mortgage his home at
six per cent, compared to those
who formerly financed homes at
four per cent
Over a twenty-year period the
difference is considerable. The
situation the nation now finds it
self in is relatively stable, though
inflation still makes progress, but
the little man is being hurt and
business expansion is slowing
down. These are serious defects
in the economics of the nation.
The squeeze recalls the times
of high interest rates and tight
money in past years. Government
bonds are now bringing what they
brought ia 1932, for example. That
doe* not mean that we are in or
moving toward economic times
like those of 1932—which was the
bottom of the depression. There
is disagreement over where the
country is heading, but the ma
jority opinion is that prices will
go up and inflation will increase
slightly in the six months ahead.
The big question is where and
when the trend will end, and what
happens then.
The Soviet Union has begun to
buy comparatively large quanti
ties of cotton in Sudan, as part of
a trade offensive in the Middle
East.
The Food Picture
For Future Months
If you look ahead to the last
half of im, says George Abahier,
Agricultural Extension Service
you 11 «m that moat food supplies
an naar laat yaar. high level
Tha food pletura shows that
there wUl be slightly leas meat.
but plasty to meet the demand,
and there will be a (aw laaa eu>
thla year than laat
There wUl be more broilers aad
turkeys, more milk, and mora
peaches, but laaa citrus fruita aad
apples. Mora potatoes and canned
and froaen vegetables are pro
spects for the future, but fewer
fresh vegetable* and sweet pota
toes.
According to Abahier, prices an
slightly higher than laat year, but
there's still plenty of food to meet
strong demands.
Abshier's report shows that
consumption of meat In 1967 will
be about eight pounds below the
record Iff pounds per capita In
IMA. Beef consumption will be
about four pounds leas than laat
year, with the last half of the
year's supplies under that of
IBM. This results in prices slight
ly above tboee last year.
Milk production is running at a
record high level, indicating a
new record high production. "This
doesn't affect prices much," says
Abahier, "but it indicates a wel
come plentiful supply."
The peach crop is considerably
larger this year than in 1M6 in
the southern region, Abahier con
tinues. Be states that the quality
will be good and prices attractive
to shoppers. He adds that there
will be considerably fewer canta
loupes this year, but more water
melons.
COTTON USE
Cotton consumption for the May
period averaged 33,628 bales for
each working day, compared to an
average of 36,664 bales for the
corresponding period a year ago,
and 3^319 for the April period
this year. Total consumption of
cotton in the May period this year
was 672,786 bales, compared with
807,979 in the April period and
713,289 in the May period of last
year.
Friday-Saturday
July 12 • 13
Stagecoach
Fury
Forrest Tucker
Mari Blanchard
Sunday
July 14
Stranger At
My Door
McDonald Carey
Patricia Medina
Monday-Tuesday
July 15 • 16
The Annapolis
Story
John Derek
Diana Lynn
Color
Wednesday-Thursday
July 17- 18
SOMEBODY UP
THERE LIKES ME
Paul Newman
Playground Schedule §
At Blowing Rock Given
Bonny Brooks, recreation direc
tor W the Blowing Bock recraa
lowtniMprqpam <* activities (or
this week at the park and swim
ming pool:
Wednesday, July 10:
•:00 to 10:00 a. m.—Free play
park area.
1:00 to 12:00 noo*—'Tournament
play—rec building.
•.-00 to 5:00 p a.—Volleyball,
horseshoes, croquet, badminton,
tennis, table tennis, shufflebord,
etc.—park area.
10:00 to IS aeon—Free tennis
lessons—Tennis courts.
10:00 a. m. to 1:00 p. Swim
ming—Pool.
2:00 p. m. to 8:00 p. m.—Swim
ming—Pool.
7:00 p. m. to 10:00 p. m.—Swim
ming pool.
1:00 to 8:00 p. m.—Pony League
baseball with Valle Crucis here
athletic field.
4:00 p. m. to 8:00 p. m.—Free
play—Park area.
•:M to 9:00 p. m.—Pre-teen can
teen—recreation building.
Thursday, July 11:
M0 to 10:00 a. m.—Free play
—Park area.
0:00 to 12 noon—Tournament
play—recreation building.
0:00 to 8:00 p. m.—Volleyball,
badminton, horseshoes, shuffle
board, tennis, table tennis, etc.—
Park area.
10:00 a. m. to 1:00 p. in—Frea
swimming lessons up to M years
of W—Pool.
8:00 p. m. to 6:00 p. m.—Swim
ming—Pool.
2:00 p. a. to 3:80 p. m.—Girls'
toftball with Cove Creek girls
here—athletic field.
1:80 p. m. to 8:00 p. m.—Midget
baseball game with Cove Creek
bovs—athletic field.
4:00 p. m. to 8:00 p. m.—Free
play—park area.
7:00 to 8:00 p. m.—Free square
dance lessons—recreatiou building.
8:90 p. m. to 11:30 p. m.—Paid
square dance—recreation building.
Friday, July 13:
8:00 to 10:00 a. m.—Free play
park area.
1:00 to 13 noon—Tournament
play—recreation building.
9:00 to 8:00 p. m.—Volleyball,
horseshoes, croquet, badminton,
shuffleboard, tennis, table tennis,
etc.—Park area.
10:00 a. m. to 12 noon—Free
tennis lessons—Tennis courts.
10:00 a. m. to 1:00 p. m.—Swim
ming—Pool.
3:00 p. m. to 6:00 p. m.—Pony
League baseball at Boone.
4:00 to 8:00 p. m.—Free play
Park area.
7:00 to 11:00 p. m.—Teen can
teen—Recreation building (movie:
The Babe Ruth Story).
Saturday, July 13:
8:00 a. m. to 8:00 p. m.—Volley
ball, croquet, honaahoea, bedmia
ion. shuffleboard, tennis, table tM
nu, etc.—Park area.
10:00 a. m. to 1:00 p. Bl.—Swim
I«i««—Pool.
*00 p. m. to M0 p. m.—Swim
ming—Pool.
7:00 p. a. to OHIO p. m.—Tree
square dance lueeom Beer—tton
building
•:M p. B. to 11:80 p.' m.— Paid
aquare dancing—Recreation Build
ing.
Sunday, July 14:
1:00 p. m. to 6:00 p. m.—Super
vieed activities—Park area.
2:00 p. m. to 0:00 p. n.—Swim
ming—PaoL
Monday, July 18:
0:00 to 10:00 a. m.—Staff meet
ing—Park area.
0:00 to 11 noon—Tournament
play—Recreation building.
0:00 to 8:00 p. m.—Volleyball,
shuffleboard, tennis, table tonnlx,
horseshoes, badminton, etc.—Park
Area.
10:00 a. m. to 1:00 p. m.—Free
swimming for thoee under 10 year*
of age—Pool
2:00 p. m. to 4:00 p. m—Pony
League baseball practice—Athletic
Field.
4:00 p. m. to 8:00 p. m.—Free
play—Park area.
0:30 to 0:00 p. m.—Pre-Teen
canteen—Recreation building.
Tuesday, July 10:
0:00 to 10:00 a. m.—Free play
—Park area.
0:00 to 12 noon—Tournament
play—Recreation buldling.
0:00 to 8:00 p. m—Volleyball,
borseahoes, croquet, badminton,
tennia, shuffleboard, table tennis,
etc.—Park area.
10:00 a. m. to 1:00 p. m.—Swim
1:00 p. m. to 4:00 p. OL—Mi(l«et
baseball practice—Athletic field.
4:00 p. a. to 8:00 p. bl flw
play—Part im.
T:00 p. m. to 11:00 p. bw—Tmb
CONVINCED
the small-car
field is your
limit? I
gg*P THIS START! IM* cUT .
- out of lo Smaller Car.
wear a Pontiac Price Tag
-yei none Blve. you Any
_ ^onllae'e Advantao^r
performs like a
PONTIAC... SMALLER
CARS ARENT even
,N THE RUNNING I
il Eels:
w^sssat
WvmfcJ CW ««L ^ T A"^* »
i— ■« <>?SA£.m£*J3
WITH 4 TO 7 EXTRA
INCHES OF WHEELJASE
PONTIAC OUTCLASSES '
™f 'WALLER CARS IN
^£AN0 mwwmi
n«*d camouflage tt U
■iaad "l-h,di ,'i.Hj i Iu nn
t* «rtrid. ove,
TOUR money actually
WYS UP T0 S>9X Mor^Y
SOLID car per Dpi i IB
IN A PONTIAC I B
'S.gL1'"
SSSSariSS
i. muecle^iU t£ -fT*
heft means Pontiac hnW. extra
S—"- "*
fT®| you a riHo n.i i ., • • •
bounc, T <*
facta "nd flgun* to ^
f°«J teat. CaU yo~ *°°*
bow »—• • -yollr ,®wn «hot» and m
PONTIAC has always
COMMANDED A HIGH
TRADE-IN DOLLAR|
a* t-wsrfflfcss
£L2LWJ» «r^TA®*
SEE YOUR
AUTHORIZED
Pontiac
thad.no-. TMNiur,c ...oht
1 * •• Im> a imI
dealer
NOWI
Goodni«htn
Have Reunion
Mr*. J. L. Goodnight wu ho*l*e*
to • family "got together" July 4th
oa the picnic ground* at the Park
way School. Member* of the family
praeent were Mr. and Mr*. Charle*
Berry of Dreael; Mr*. J. C. Honey
cutt and da-tighter, Elaine, of
LeaktvUle; the Rev. and Mr*. O,
E. White of Cornelia*; Mr. and
Mr*. Howard Goodnight and daugh
ter*. Daily and Dori*. of Gaatonla;
Joe Goodnight and children. Lee
lie and Lee, of Conover; Mr. and
Mr*. Neil Goodnight and daugh
ter*, Cathy and Sarah, of Char
lotte; Mr. and Mr*. OHn Goodnight
and children, Deborah, Sonny, and
Tommy, of Newton; and Mr. and
Mr*. J. C. Goodnight and *on, Jim
my, of Boone.
American Legioi
Auxiliary Meets
I *
Johnson of Granite Fall*, alter
nate district committee woman, re
ported on the state convention
held in Durham last month.
Tl»e June M meeting will be
held at the home of Mrs. Charles
Dougherty,
Three top atomic scientists re
cently said they have already re
duced fallout in H-bomb tests by
90 per cent