Durham Region Newspapers banner

The Oshawa Times, 9 Jan 1959, p. 4

The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

The Osharn Times Published by Canadian Newspapers Limited, 57 Simcoe 5t. 5., Oshawa, Ont, Poge 4 Friday, January 9, 1959 City Progress In 1959 Requires Co-operation In his inaugural address, Mayor Ly- man Gifford gave a comprehensive sur- vey of important work "that could be accomplished in Oshawa during 1069, That the road system must be extend- ed and improved goes without saying. Oshawa has grown Into 8 big city---al« though many residents do not seem to realize It ~~ and expansion of munici« pal services must accompany that growth, Tt is expensive but Inevitable and necessary, The possibility of an alr service for Oshawa is good news, and it is clear that the airline studying the feasibility a Dorval-Kingeton-Oshswa-Malton« Catharines-Buffalo route will get strong co-operation 'rom the city ade ministration, We hope, the service is established, It would mean the upgrade ing of the Oshawa alrport, with its ac eompanying benefits, and the addition of a serviee not for the city alone, but Tor the trict would fit another of progre Of nt least equal Importance was the mayor's that will press for the establishment of a council Bet I'he ha OPPOSES of 81 surrounding d into the area's pattern whole plece f declaratior he min = administration muyor a majority of the council pan, but thet he hopes to form of that this anid take some preliminary steps that will convert the opposition to his views, He has two years "or his campaign of cone version and we hope he succeeds, This could be one of the most progressive steps ever taken in the city, A multi« million dollar corporation needs a gene eral manager as well as a board of di- rectors and board chairman, and It is strange that some aldermen refuse to recognize this fact The mayor closed his address with a plea for" co-operation, "No one," he sald, "can be successful in this office without the full co-operation of his council , , , I would also atk for the full co-operation »f our various committees, one with the other," It is unfortunate, however, that the seeds of dissension may have been sown in the striking of committees, We hope that the aldermen gave this possibility serious thought be~ fore the commi'tees ware selected and approved, Changes In the finance coms« mittee have clearly surprised and even shocked quite a number of people in the city, A council needs public trust and support even when an election Is two yvenrs away, The program of wor) for 1080 would be seriously affected if the opinion solidified that city council was split Inte factions Banker Speaks His Mind readers cribed press and similar people of the Canadian A few days of ou gent us a letter as trite the dents, industrialists nbout Progress economy, We should like draw the attention of this particular and all readers in general to an address Thursday by James Mulr, chairman and president of the Royal Bank of Canada, at the bank's annual meeting of sharsholders Mr. Muir's speech certainly trite, and was not designed to be a con= gregation of economic platitudes He spoke bluntly, forcefully and obvious ly without any intention of winning a popularity contest, Here are some ex- corpts from the address: "We have only to look back at the last year and a half to realize that Can- ada, like the United States, is not make ing full use of Fer natural and human resources, The most spectacular evi dence of this is, of course, the level of unemployment, but it also appears in the fall In industrial production and in the existence of excesy plant capacity ... We seem to have reached the econ= omists' hell on earth! Inflation AND un« employment." "Last year, as in previous recession years and while the economy was still on the down grade, I urged tax cuts by government and price cuts by business, Instead of the tax cuts last which act) prices, go one in de bank which he comments of the to reader in delivered was not Vear would have encouraged husiness vity while reducing pressure we got increas"d government spending Instead of an immediate deficit last year, timed to coincide with the depth of the cvele, find ourselves today with a delayed deficit which has timed {tself to coincide with the present re- covery and the emergence of a new ine Nationary For it the great fisadvantage givernment expendi LL that 1t 1s ponderou hie \ to ler way on we potential is of A C\ for recession hire ire both and rrevel takes TV View Of If some catastrophe ocours to eliminate all records of the mid-twentieth century oxcept taped television program and commercials, the descendants of North Americans are going to gel a quaint pic= ture of what people were like in the and 60 time get projects un 1 O50 I'hey will get, for A huckster's view of what constituted "the good lite" in 1969, This is the view that all a person needs to lead u happy, full the of some physical Thus the happy TVa instance, only life satisfaction hungers person The Oshawa Times -- ] and General Manager Le WILSON Publishet GWYN KINSEY, Editor, whawa Times, combining hed (87) and the \ehithy Gagetis ard ablished 1883), Ww published daily (Sure tatory halidayy excepted Members ef Canadian Daily Newspapers Publishers Th Audit Bureau of Provingio + Frew 0 esclum cation dited te i \ | . despatches Thy shawe Times The e Oshaw . o a Wg Street West, Torente, © Montreal, PQ 'SUBSCRIPTION RATES Whithy Parry Aman awilion, Fremont, Kinsale, Rags rare Ala Prince Roy, cartiemn In thaws lo. Rrookiin Port e. Mampton, Fren Dunbarton, tn ered by y, | 0 M ol Taunton, Tyrone Leskard.. Broughan, Burke! win, Fanpert Beach, Greenwood lan. Blackstock Manchester, Cobourg, Port Hope, Pontypool and Newcastle not ov 406 per week fiy mail tin provines of Ontaria) outside carriers' delivery areas 12.00. ehewhare 1500 per var AVERAGE DAILY NET PAID 6,166 n, ¢ and once started they must be coms pleted "Instead of price cults last year which could have paved the way to a healthy recove we got a continuation of the easy consumer-credit policy which, in 1056-56, borrowed from future demand and made Inevitable the 1957 slump in consumer durable goods , Regardless of the skill and energy of the monetary authorities) an effective monetary pol= ley is impossible so long as consumer credit is free to move in the ite direction, The Central Bank credit In booms and expands in slon, Unregulated consumer credit pands In booms, contracts in Those dependen' on bank credit have to bear the full b unt of credit restriction while others enjoy a spending spree, To break up this unholy alliance of Injus« tice and futility. T have repeatedly ur ged on these occasions 'n the past that monetary and credit control should em« brace a wider area of financial world than they now do." ' "One of the most puzzling aspects of the recession is that the round-robin ef cost=price Increases has continued in spite of growing unemployment We should not over-emphasize labor's re- sponsibility for Inflation, The general inflationary environment really the product of the first two factors: name= ly, the impact of the government's bud- get, and the buoyant effect of liquid holdings, consumer credit and other means of increasing expenditures be. yond current income It is within this general environment that nee labor making wage demands based on rising living costs which are themselves In part the result of a previous Incredse In wages, not Justified by increased productivity," This gives some of the strong meat 'Mr, Mulr was serving to his share holders vestercay, And there was much which can be later oppo contracts recess eX= recession our we iden more discussed In Issues Good Life style, Is the one who has a refrigerator full of beer, a car, a boat, pockets full of cigarettes (and presumably money though this is never indicated), a wife who spends half the budget on beauty aids and a coupie of children who exist on nothing but breakfast food and pop l= There is no room in this good life for the reading of books, or listening to musie, or indeed the satisfying of intels lectual and spiritual hungers, The coms mercials dwell lovingly on the filled res frigerator but never reveal a let alone a filled bookshelf. The head on a glass of beer, it seems, {8 a more note worthy ingredient of happiness than what may be in the head of the drink- er. The taste of a cigarette is more im« portant than the flavor of an idea Do the what this society be the good life? Of course not such an approach. to sales should considered worthwhile may be ar ol book commercials truly reflect of ours considers to hut that he di cation tion hea where our civiliza nL Bible Thoughts ed with Lord efit he the 0 da he Ww Psaln upholder of 1 ippreciation ven the little likes a I and my father are one John M0 that down. "vitation to ANOTHER SATELLITE WITH A MESSAGE MAC'S MEANDERINGS Canadian Orders Save Brickworks By M Special MeINTY RE HOOD England pondent to The Oshawa Times In colland I'oday | n led omething of vith Canada London Corre FALL het al not al « I havi ring 11 nde { of employment Bes and | na Scottish a 1 have heen | Iing mine ma means In fon have ery Mooll | orkiman heer home at I spending m the ol brick wor nd a cla raw a from ter 5 of Mr, and Nn. who have about four Mrs. Willia A magnificent miles from Fal In Stirling shire, I had met Mr. Wilson when I wan in Eastbourne attending the conference of the Dollar Export Councll at the beginning of De cember, We scomed to be kindred spirit tantly In there of his § oor each other any while He wa J interest ports for of bricks \ And helo he had « oen neater ex product, fire idan market ed In London, arm ins Scotland, to go for to usa him in ad where we | planned the f¢ ve We had In Gina OW there tish frien the heen when mont M were looking ant expectations realized I'here was a merry party at the Wilson home, In addition to My and Mrs, Wilson were wel comed hy thelr daughter Heather, thelr son Ronald and his flancee an English girl from Newcastle under-Lyme, a young man who had with Ronald In the Army doing his. national LT nd Mus Wilson's mother, Mrs, Melntosh, a derful old of 1 CLAY MINE INTERESTING Frankly Interests in visiting My mn was to see his brickwork did a large Canadian hu So off T went with him and his son, te visit fir ihout 11 miles away There 1 saw a most interesting operation. On reaching the mine, 1 was struc the simplicity of the bulldin here a tall hullding with a hoist from trucks were loaded and alfice building. The only into the ground was a small tunnel sloping down from the hoist, with a rallway track running down it. Yet underground wa network of passant the clay was bein Mr, Wi out t clay face ol Ironworks ( has heen trict fo month the | ation \ nel spent of 'vesterday ting some friends 1 Seol For once as it ha morning the Pol where we were mol Wilson with his car, we forward to a pleas and more ome of soo HO thi related to to mn 0 todn we took train hy fay vithout our than ain Were we served while lee won one of my Wil which Nes the clay min WL as which " wll opening small into a vas! from wh I dug mn has the rights to dig under sur 140 acres the Carron a Hem which that dis vears this hy I" far the from pround in area of owned hy nimpany operating in exactly 200 WA 1 k of impressed mining oper tn wheale Ung \ of nthe all AT THE BRICKWORKS Were \ were fied in coal fed Kins, but and a chute the fire brick was processed In kilns fed by oll, which was spray ed into the kiln, and created the Intense heat required KEEP PLANT BUSY It was then that 1 got the story of how Canadian orders had saved the plant from being closed down, and kept its 160 em ployes In full employment, with prospects that this would con tinue, Mr, Wilson told me the story In simple terms "A few years ago he sald, "there was a strong demand for firebrick from Canada, But most of the brickworks were not inter ested, because they had plenty of domestic orders, But 1 could fore see that a time. might come when there would he a decline in busi ness here. in Britain, so | accept ed orders from Canada, gave them prompt delivery at prices that were satisfactory "Karly last summer, when there was quite fon in the brick business, and there was fear that many of the hrickworks would he laying off their men, 1 went to Canada in search of orders, | had d contacts there, and the even better than | expected, In October, just when I thought I would have to close down the mine and plant, because had a tockplle, some very large orders came in from Canada, and we have heen able to keep going at full production and have enough business to keep us going throughout 1050 In 1008," sald Mr, Wilson, "we shipped 5500 tons of firehricks to Canada, On the basis of our pres enf order bool, we Increase these to BODO tons in 1950, Only this week | received one order for 600 tons and another for 700 tons, from Canada, Our chief cus tomers are large construction con cerns in Montreal, Toronto, Ham on and in Deitish Columbia, We have an order for 300,000 fire bricks for a large chimney in British Columbia. These Canadian orders have kept us operating while most of our competitors are either shut down or are on short hours "When the decline in domestic business came this year, many of our competitors became anxious to get Into the Canadian export markets, but our customers re membered that we had kept them supplied while other firms had re fused to accept their orders, and they refused to change to another company, So our efforts to secure had 0 recess some go results were we large exports BYGONE DAYS MM YEARS AGO Ontario Safely League re that 1650 drawings had been received from school ¢hils dren In connection with their drawing contes! The drawings came from 37 different towns and cities I'he ported Hunt of the Power Commis to Kitchen Inspector J. J Hydro Electric slon transferred or Was The following trustees were elected to the Oshawa Separate School Board for (he ensuing year; 8. A. Gates, Dr. T, B. Bar. nett, J. Normoyle, A, ( Love, DD. D. Mullen, N. J. Connolly, N MeNell, F Powers, Wm. Hambly and M, Carney Although there were #800 ell gible names on the voter list, the total vote polled at the muni cipal elections was 4195 Mayor W. J, Trick was return: ed Lo office for a second term at the municipal elections, hy a majority of 200 over ex-mayor John Stacey and 512 over Roland Moffat, R. D, Preston and George Hart were elected to council in south-west ward and 0, =. Burns and A, J, Graves south-east ward tor Rev, Dr. G, H. Williams of the Metropolitan Chureh Toronto spoke at the first of a series of luncheons which held in the YMCA was In order to give the publie the benefit of the latest developments in dental surgery, through the medium of local dentists, a cliple under the auspices of the Dur. ham and Ontario Dental Associa tion was held in the YMCA Speakers for the Week of Pray er were, Rev. A. M, Irwin, Rev I", J, Maxwell, Rev, J, Il. Me Rain and Rev J. S. McMullen, Col, John I pointed Crown tario County Col, J. F Grierson was ap Attorney of Ons to succeed the late arewell Three hundred people attended the opening of the new $40,000 five-room school at Pickering, a permanent market in Canada have pald off very well." As 1 left the brickworks, the last thing I saw was a great stack of firebricks, packed in strong wooden frames, destined to find their place in some build ing to be erected in Canada in 1959 FOR BETTER HEALTH Advice for Mothers Once Baby HERMAN N, BUNDESEN, MD Just about everybody has ad. viee on what an expectant mother should da before the birth of her haby. They will tell her all about labor pains, diets, bowels and so on Few tell her what to do or what to expect after the Lyke is horn. Consequently, many a new mother is unduly concerned over perfectly natural occurrences AFTERPAINS he pains of childbirth can be most mothers Afterpains, however very paint and practically Man at all \ftorpains are by relaxing and contracting of the uterus, Women who have had provious children ave more apt to experience them than those who have just become mothers for the first tine It they for ex VOIY Sever vell know eldom never have imple as of you are OPO vomen don't them caused the do occur, don't worry birth Is Born Sometimes, however, the pain might be bad enough to require relief. In that case, aspirin or some similar preparation may he all that you'll neext, Or perhaps vour doctor will prescribe co dein Don't worry if you seem to pers spire more than usual and have to go to the washroom (requently Generally this occurs about the time that milk enters the breasts. Th simply nature's Way ridding your hody of all that thatd which vou retained dur ng EXTRA I may pregnancy LIQUIn nurse yor hab vou extra mik and frat Il you don't nurse, your doctor may restrict the amount of hquids you can drink There will be a vaginal dis charge for several days or weeks following birth. At first it will be red, then it will change to yel and finally white. Again is a natural functon, Don't vou need uiees low 10 vou unle i \ 0 1s And yOu an infection hat, of course that should consult your doctor mean READERS' VIEWS Council Action Provokes Anger Dear Sir May 1 take up a small space in your paper Lo express my sym- pathy (o Alderman Thomas for the shameful (reatment she re- oeived from our mayor and city eouncl! No one can doubt that Alder: man Thomas was certainly the people's choice and should have been given the chalmmanship of finance rather than someone who has not, In my. opinion, had near. ly enough experience In civie af foirs fo hold such a position However' 1 feel that Alderman Thomas has nothing to worry over for she Is, and will be, the people's choice, and | firmly be. lieve that the citizens of Oshawa will In two years' (ime, crash the polls to elect a new council, es pecially If the present councll continues to operate in the man. ner they have on the bus issue, and the treatment of Alderman Thomas It could be possible that labor men may also pull out of thelr slumber in two years if they get A few more kicks In" the pants, as the local bug drivers have from the traffic committee, with not one word of support on their behalf, from the great labor force we have in Oshawa Oshawa TAXPAYER Dear Sir; The inaugural meeting of the new city council as reported in The Tiowes must certainly come #8 a real eye-opener to many tax papers Last year the striking commit. tee ignored Ald. Brady who had acted as vice-chairman to the hoard of works and selected as chairman for this important com- mittes a more recent addition to ecuncll, Ald, Branch This year, in a very high-hand- ed manner, Ald, Thomas was re- placed by Ald, Basiedo, Why was the finance committee the only one which was changed from the previous year? Did Ald, Thomas do a poor job as chalrman of the finance committee last year? 1 think not, nor did the voters, be. cause Ald, Thomas received top billing with the voters while Ald Bastedo was near the hottom of the pool urely an alderman with sever. al years' experience In civie ad- ministration would be the logical choice in preference to an alder man with one year. Once again, Ald, Thomas was ignored as dep uty-mayor, . this position being given to Ald Murdoch, who some two or three years ago of fered himself for mayoy and was soundly trounced It is my understanding that it is an unwritten 1aw fn municipal ecouncil, that the person whe heads the poll is given a choice of the committee he or shy wi to head, | know that in the To ronto Board of Control Mrs, Newman, who headed the poll in that city, had her choice of com mitiwes, Surely this Is saging up with a vengeance, Is the lady alderman more competent than some of the deadwood" we now have on council and the jealous bug of envy has crept in? Possis bly because she was supported by the Oshawa Labor Council has some bearing on it, Whatever the reason may be, | am one voter who will not forget this when another election takes pl in two ymars' thine It does not look well for the taxpayer when such pelly man ocuvring Is carried on Al the Mayor's annual banguet, it was stated that some of the city's business is carried on be hind the harn door, It looks like some of the boys have been down behind the barn again. I humbly suggest that council peturn to the procedure followed hy Mayor Naylor in his years In office when the taxpayers knew what was going on Oshawa GORDON WILSON The oft . repeated remark, "You're as old as you fee) is silly. A person couldn't be various and widely different ages In & single week The man who hought & moun. (ain several years ago Is meeting with difficulty in trying to sell it, It seems there Is scarcely any des mand for second-hand mountains, Annual Meeting of Shareholders The Royal Bank of Canada James Muir urg es more flexible tax system, with wider control of money and credit to curb chronic inflation West can set "free economy in markets open to und Chreonle Inflation is the great esl single threat to Canada's eco nomic development declare Jumes Muir, Chairman and Pres ident of The Royal Bank of Can ada, at the bank's Annual Meet Ing In Montreal on Thursday Jonuary Bh, Reviewing the con ditions which must be met to en sure continuing economic growth high level employment cand stable currency, Mr, Muir said "Negardless of the skill ang energy of the monetary authori Hos Is Impossible so long as sumer credit 1s free to move the opposite direction Central Bank contracts eredit hooms and expands in recession Unregulated consumer credit ex pands In booms, contracts In re cession eredit have to hear the full brun of credit enjoy a spending spree up this unholy alliance of injus tice and futility 1 have repeated ly urged that monetary anc credit control should embrace ¢ wider area of our financial worl than they nov do VORMIDARLE TASK "Until fundamental changes can be made the Govern ment must finance its deficit hy selling honds to the general pub lle, the chartered banks, or the Rank of Canada, The shift bonds to equities, in spite of the relative attractiveness of hon ¢ vields, rules out the general pub lie, The need for liquidity in hibits sales to the banks, except for (he shorter maturities. Pur con I chases of securities hy the Bank the chartered whether from the case the Gov government of Canada, general public, banks, or in this ernment, fingnces debt through an increase in the time money supply, Thus at a when inflationary pressure growing, the Indicated policy for the Bank of Canada, monetary restraint, may run directly count or to the financial needs of the Government, It is this formidable task of steering between Scyll and Charybdis, between policy which, in the months a head, will try to the limit the im agination and resourcefulness of those charged with the problam of government finance "Rut surely it is not hevond the wit of our fiscal experts in government and elsewhere to de vise a system that will minimize the vole of the business eyele in nature oco determining the size and of government sponsored nomic activity, Surely a fiexible tax system could be de vised whieh would adjust tax rates to counter cyclical distur bances, not only quickly effectively but without arbitrarily changing the relative importance of the government sector in ow economic life. Such a system combined with a more compre hensive coverage by our mone tary of credit AN economic level employment could 1 think Himate dv provide high anomie time ony same on growth and the protect the value rency from the ravages of chronic inflation CONVERTIRLLATY Referring to the recent devalu ation of the franc, move toward convertibility, Mr Muir sald, "One of the most im portant devices for ensuring the mohil hand ol Hy ol uivestment capital woul consimet 1 and servi anong the nation vorld 1s a tree 0 \ of the ( market. In th foreign exchange context two recent events of spe a an effective monetary policy The in hose dependent on hank restriction while others To hreak bhudget from is failure of monetary and failure of Fiscal pone was inevitable, Now more and authorities in the regulation and Britain's an example of action' by keeping erdeveloped countries. Royal Bank Assets over $4 Billion K. M, Bedgewick, Gen: ager, reported that Royal Bank assets had passed the $4 billion {mark, and that Capital funds now [totalled nearly $250,000,000, "Des {posit figures in Canada have of course, Increased markedly," sald Mr, Sedgewick, "and we are particularly pleased to see subs stantial growth during the year In our personal savings deposits where the figures ave larger by | RISK-TAKER MERITS REWARD "Adequate reward for pro- ductive effort and risk Is an Important condition for econ. omic development', sald Mr, Muir. "Government, with the il ald of tax experts, should {Il make a thorough study of our | complex tax structure with a view to improvement hoth in the distribution of the burdens and In the allocation of the net rewards for productive activity I would like now to move to more specific cases, If labour hecomes more produc tive, higher wages can be paid without inflation The in crease is both an Incentive and a deserved reward If risks are taken to expand production in some direction, the opportunity for a corre spondingly large reward Is not | only prerequisite, but justified to the extent of the risk. taker's contribution to gener. al welfare "I would like to join those / who are urging the Govern ment in considering the report sv | of the Borden. Commission on Energy not to move hastily to vl put a publie-utility strait. | jacket on one of the most Im. portent contributors to Cane ada's visk-capital investment: the oll and gas industry an risk Industry that has been responsible in large measure for Canada's brilliant econ. omie showing since the second world war "Uncertalmy bred of fear, fear of crippling regulation, can cut off risk investment and destroy all hope in the free world for sus'ained and healthy economic growth." $148 million odd than those of a year ago. As al date of the Bal- ance Sheet, our depositors num. hered 2,027,121, indeed a source of much satisfaction to us," Mortgage loans arranged by the Royal Bank had increased by 23 per cent to nearly $265,000,000, land shareholders now numbered |22,166, an increase of 2200 in the year Referring to the bank's continue ing program of new construetion, and the improvement of existing premises, Mr. Sedgewick noted that important new offices, now under construction, would be opened in 1959 at Charlottetown, Montreal and Vancouver and that within a few months work would | commence on new main offices in Ottawa and Windsor and on an Important branch office in Ed manton BUILDING PROGRAM "During 1068 we opened 33 new branches in Canada and four outs side Canada three of which were in Cuba and one in Puerto Rico; We have completed major ladditions to our branches in Bridgetown, Barbados, Nassau, | Bahamas and at a number of other points. Work is underway now on new main office buildings for Kingston, Jamaica and Ciudad Trujillo, Dominican Republie, Also our Bogota, Colombia main office Is being expanded and coms pletely modernized." The recent appointment of Far Eastern Representative, with headquarters In Hong Kong, said IMr, Sedgewick, had placed The {Royal Bank of Canada in a posi tion to provide onsthesspot assise tance to foreign traders who wishe ed to take advantage of what Mr, Sedgewick felt to be "opportune itles for further important expan- slon of trade between Canada and far eastern countries." ------------ (unless it leads to sustained, and self-sustaining, development; and | ( a 'lal interest concern the French franc and the pound sterling "Devaluation of the French it re mains to be seen how stable the new rate will be, Naturally this {wil depend upon how firmly the internal economy of the country can be built up and upon how faithfully the people will accept the new vrestrietions they must endure to come through success fully "The immediate signiticance of [Britain's move towards convert bility mu t nol he vxaggerated All she has done is to make for mal what has informally been mare or less the case, vig, put Ca nadian and US s.orling, so called, and Transferable sterling in the sume bracket, This means that all nonssterling area holders Hol pounds are now in the same boat, which is. to say they can freely dispose of their sterling: for dollars or any other currency at the going rate within the support Hpoints © tablished by the Reitish horities, vie $2.78 to $2.82 US One important outcome is that London can deal freely and di rectly with all currencies and again got back to where she was helore 1 war as the most im partant foreign exchange market in the world "The great hope is that these latest developments will hasten the. day when the UK, can throw all shackles overboard and make pound free and fully con for everybody inside, as {well as outside the sterling area FOREIGN ALD Ald 10 underdeve ries," said Mr, Muir, an the vertible oped IS useless coun fundamental social changes in the underdeveloped country are res quired before the spirit of enters {prise Is sufficiently strong to (achieve what we might call "ess cape velocity" independent of the, {temporary rocket thrust of eco (homie ald, Without fundamental iehanges, greatly expanded ald fanned by over-enthusiasm, if not emotional compulsion, may have perverse effects, not only in the inflation-vidden West, but in the underdeveloped countries thems selves I think we must raise the question whether earmarking more aid Is best for East Asians or the West until much more has been done both in education and in the careful preparation of pros grams that achieve a proper bal ance between agricultural and Ins dustrial development," The big question, said Mr, Muir, was whether the "uncoms mitted" underdeveloped countries would tey to develop a private enterprise economy as an insti. ment of growth. This depended, he sald, "not merely on expand ed economic ald but on the ex ample the West, and hy a 00d example I mean not merely we sel our own house in but that we keep the econ of the West open to the goods produced by the unders developed countries. Otherwise we can only expect (hese couns tries to adopt a policy of selfs sufficiency with its inevitable counterpart, centralized control of the economic system, In other ir we would have under countries abroad along private enterprise Must oF them an ex eronomy in acs sel hy | that {order omies [x cals developed lew velop ne W¢ ample of the free tion

Powered by / Alimenté par VITA Toolkit
Privacy Policy