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- v---,~- QRONO WEEKLY TIMES, THURSDAY, FEBRUARY 5th, 1970 Letter To The Editor Report From Ottawa The Canadian Federal Govern- ni ent seems intent n'on makiug iaw the White Paper, with the purpose of achieving "equity" in taxation.' Although there is a shortage of investment capital both in Canada and eiswhere there bas been 'cousiderabie sav- ing and investing by Canadians but il lias not been great enougli to denote a confidence in the country ither present or future. Additionai outside capital bas been needed and encouraged with, U.S.A. providinig the most. This lias resulted in a steady de- velopment of our- resources and brouglit about the establishment of secondary industry iniail fields At this point the White Paper proposais begin to make them- selves feit. Consstently, middle income groups have accumuiated the bulk of s avings and it is this group that is to feel the big pinch. Their kind have' been from the beginniug, and continue to be, the backbone of this great country. They took pride in aeh- ievement and feit the satisfaction that cornes from bhard work well done. They had an eye to the futureý and struggled to save and aceumnulate capital for expansion or to create an estate for their families that theit efforts miglit bring satisfaction to themseives and joy and benefit to succeed- > ing generations. These are the Jkind of people most deserving and, these are the ones to be deait *wîth seemiugiy void of sen- timent. At a meeting last year at Or- ono our federal representatiye said in effeet that it was the in- tent of the Government to see to it that no large amount of mon- ey (property) would be passed from one generation to another. Proposed taxes and estate taxes in priua wil go a long way iru negoting'( the efforts of, our forefathers and orele.The Fedlerai Departmeuit of Agricul-. ture lias for years been teliing farmers to expand. to develop viable farmn units, to inove ahead with the 'times. For effort in tis direction thie- Goverument agreeable, through estate taxes, -totake rouighly one haîf of a $300,OO0). estate. 0f course youÉ beneficîary ceanlilquidate one baîf of the property to meet the tasince miost f armers generallb rehinvest thieir earuiugs iu thei farm- business. This wouid leave a_ son, for. exaýmpIe, a smail prop. erty with which hie can face {!hE challenge~ of starting ail ovei again, This eau appiy to mosi smail or medium businesses. O1 course the *Provincial suceessio] duties lu some provinces must a] s0 be dealt witb. Russell C. Honey, Q.C., M.P. Northumberland - Durham A review of the work to be deait with by Parliarnent before the adjourument for the summer recess at the eud of June indi cates the volume of work now be- ing processed and also underlines the necessity of a reasouable ap- plication of the rules of proced- ure aud the need for the co-oper-3 ation of ail parties if the work is1 to be concluded as scheduled. 1 At the 'present time there are 4 Goverumeut Bis at the "Re- port Stage." That is, they have been given second reading (ap- proval in principle) and have been cônsidered by the appropri- ate Standing Committee who bave "reported" back to the House of Commons. The Bis atI the Report Stage,, are:- Sm all Businesses Loans Act Amendments. Canada Student Loans Act Amendments, Railway Act Ameudments, and Expropri- ation Bill. The Goveruiment Bis stili be- fore the House for Second Read- ing (approval in principie) are:- Motor Vehicle Safety Bill, Que- bec 'Savifigs Bank Act, Dominion Coal Board Dissolution, Oul and Gas Production and Conservation Act Amendments, Cape' Breton Development Corporation Act Amendments, National Parks Act Amendmeuts, Company of Young Canadians Act Amendments, Nu- clear Liability Bill, Quarantine Bill, Canada-Sweden Income Tax Agreement Act Amendmeuts, Standard Council of Canada Bill, Criminal Records Bill. Iuvestment Companies' Bill, Canada Shipping Act (part v) Amendments, and Yukon Placer Mining Act Amend- ments. in addition the following- Gov- ernment Bilis are under consid- eration in the relevant Standing Commnittees and in due course will be "reported' back to the H-ouse of Commons for further consideratiofi:- Trust Companies Act Amend- ments, Loan Companies Act, A- mendments, Foreign Insurance Companies Act Amendments, Can- adian and British Insurauce Com- panies Act Amendments, Canada Water Bill, Deep Sea Fisheries Act Repeai, Coastai Fdsheries Protection Act Amendmeuts, Sait Fish Bill, Criminal Code Amend- ments (Rate Literature), Inter- national Development Research Centre of Canada Bill, and Can- ada Corporaton Act Amendmeuts. The Government bas indicated that before the summer recess it will introduce for consideration, another 43 Governmeut Bis to be enacted ýinto law by the end of June. Muchi of this Ilegisiation does not, or, course, affect us dir- ectly in Northumberiand-Durham. Other items are of course of dir- ect înterest to ail of us. I thouglit you might be interested in this Report to learu of the compiexiity, and variety of legisiation which we deal with on a day to day basis. KNOW THE LAW Drivers! Here's an emergency vehicie reminder. When you hear a Police, Fire, Ambulance or Public Utilitv emergeney siren or observe a light if intermittent red frashes, the iaw requiresthat youi bring your vehicie to a stop as near the ri'ght haud curb as ý Local News Mr. and Mrs. R.E. Logan en- tertained their family ou Sunday on the occasion of their daugh- possible. Failure to compiy with this iaw could resuit in a fine of not more than. $100.00. ters' birthdays. Present were Mr, and Mrs. Norman Allia, Mr; and, Mrs. E. G. Hay, Miss Sharon AI-- lin and Mr. Paul Barclay oL Bowmanviile. Many from Orono and district are attending the play 'South Pa- cifàc' being staged in Bowman-- ville Town Hall this week. Take a second look! Here is the ultimate in lightweight chain saws, the Pioneer Holiday 1l. This model has more features than any other light- weight and the price is Iow. Here are somie of the bonuses you get as standard equipment: Automatic chain oiling, Sureguard safety chaîn, a visual Prim- ing system, large fuel capacity, "uni- body" construction and many more. Dollar for dollar, Pound for pound, you won't find a A better buy! Only U 9 'I Romlph Hardware Ltd. Min Street Oro CHAIN SAWS -no, Ontarlo Gettînn ý7 -ýï er Reh a Con ici 104 fous 1 77 lis ce It is easy to uuderstaud why îan yone would "what's the use, I'm working for 50e on th!- dol- lar, I miglit as well speu'd it noW, and join the ever growing chorus who siug 'who cares' as they mardi to joîn the welfare state."'- Saviugs have a cushion effect ýon the economy. They represeut future spending or investment that may 'be defiuied perhaps for several generations. A happy balance of. saving and spendiug, must be 'maiutained and I can- not see the white paper doiug anything but eucouraging aimost richiess speuding. This country must remain economically ivit- ing to those within and without. This is the way to hoid the lu- dustrious and ambitious people. After a study of proposed taxaý- tion can you say the economie elimate is favourable? Iu my opinion socialistie 're- forms already have gone bevond the point of maximum benefit to Canada. NVe owe it to our for efathers, to -ourselves and to succeeding Igeueratious to oppose with al vigor the taxation that cuts such a cruel swath througli the very, centre of our society.' R, D. Morton. Commerce Term Deposits are just one of the high interest, no risk ways we can put your money> to work. They're cash able anytime at your Commerce branch. The Commerce pays 73/ % on Term Deposits when the amou nt is $1000 or more and it is for a fixed period of time greater than two years., >Your manager has other investment opportunities too. Drop in and see him. Here are some exemples of the high Interest Commerce Term Deposits cen earn you over certain periods: 2 years Amount 1 month 6 months 1 year -+ 1 day 5 years $1,000 $5.42 $3250 $70.00 $155.21 $387.50 2,500 13.54 81.25 175.00 388.02 9M,.75 5,000 29.73 176.44 360.00 776.65 1,937.50 10,000 59.45 352.88 700.00 1,552.12 3,875.00 A botter way to ma1WS money CANADIANIMPERIAL BANK 0FCC EE