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Distribute Education Funds m Peropeotive HIGH COST OF TRADE PROTECTION • By RONALD REAGAN When high inflation rates rifle American pockets as they have lately, there is a tendency for us to take out some of the frustration on imported products. As prices rise, so does the cry for trade protectionism. But, according to Professor David Hartman, Harvard economist, trade protectionism is actually hurting U.S. consumers more than it is helping. In a study published by Consumers for World Trade, a non-partisan, non-profit group, Hartman cites some figures which make sober reading. The usual reason for such protectionist devices as high tariffs, import quotas, "voluntary" quotas and " O r d e r l y M a r k e t i n g Agreements" (O.M.A.s) is to protect American jobs. *•»» But, Hartman cites figures from the U.S. Council on Wage and Price Stability showing "that it is costing the American public $81,000 per year for each textile job protected." The Brookings Institution, according to Hartman, calculates that each steel in­ dustry job protected is costing the public $62,700 annually, and the U.S. Council of Wage and Price Stability estimates that the public pays a whopping $114,000 per year for every U.S. footwear industry job protected! J Hartman points out a special irony in the footwear case. Two Orderly Marketing agreements enacted early last year were "aimed specifically at reducing imports in the low-price range." Thus, lower-income Americans are paying more for shoes than ever before. Hart­ man says, "As a result (of the marketing agreements), the unit value of imported footwear rose 17 percent in the year ending June, 1978. At the same time, U.S. footwear manufacturers - taking ad­ vantage of reduced overseas competition - raised the unit value of their.no-rubber foot­ wear products 14 percent in the third quarter of 1978, compared with a year earlier." Professor Hartman contends that protectionism aggravates inflation and that the solution lies not in applying more retrictions on imports, but in making our exports more competitive. Hartman says, "... by restricting foreign competition we are undermining the market incentive for our least efficient industries (or our least com­ petitive companies) to invest, modernize, improve worker skills (an earnings) -- and to SECTION 2 - PAGE 1 - PLAIN DEALER - FRIDAY, AUGUST 1,1»7» become competitive again in international trade." He cites the U.S. electronics industry as an example dNone that has remained higHJy competitive in world market^. "The challenge to America j' Hartman concludes, "is not protect our weaknesses, by perpetuating our yesterday's industries, but to build up our strengths^ by shifting capital and labor into tomorrow's industries. That's what our European and Japanese competitors are doing in .nany industrial areas where the United States was once supreme." It's hard to argue with that, but what of the actual men and women in industries threatened by floods of imports? Expand government "ad­ justment assistance," in­ cluding job retraining, Hart­ man says. Since elected of­ ficials are under heavy pressure to help affected in­ dustries and their workers, such "adjustment assistance" may prove to be the most practical approach to the problem and the least costly to the American public. Tractor Prizes Set At $2,580 EVerett Hunter, chairman of thejtractor pull events at the 1979 McHenry County fair at Woodstock, Aug. 1 through Aug. 5, said today that prize money for this department will total $2,580 this year. The tractor pull events in­ clude : antique tractors, tractor rodeo and garden tractors, Saturday, Aug. 4. beginning at noon. Farm tractor pulling com­ petition is scheduled for noon, Sunday. Aug 5. This contest will feature "Eliminator// Specific>rfforrnaticn on entry fees, retired equipment and the class categories can be found in the 1979 fair book now available at the McHenry County Fair office on the fairgrounds in WoodstQtk. Entries are accepted up until the times mentioned above. Officials of the McHenry County Catholic Education foundation announce distribution of $48,214 to Catholic schools and educational programs from foundation earnings for the fiscal year ending June 39. From left are Jim Schwarti, Crystal Lake, general chairman. Catholic education benefit banquet development chairman, MCCEF; Don Doherty, McHenry, chairman McHenry County Catholic Education foundation and the Rev. Karl Ganss, foundation executive director. IT ' ' DON PEASLEY PHOTOGRAPHY^ The McHenry County Catholic Education foundation celebrates its sixth anniversary this summer with the distribut­ ion of $48,214 to area Catholic schools and religious education programs. In' commenting on this year's funding, Father Karl Ganss, executive agent for the foundation, stressed the need for Catholics of the county to renew their efforts to provide quality religious education. "Now as never before, with inflation and the energy crunch," Father pointed out, 4':here is a mandate for Catholics to recommit them­ selves to the cause of funding Catholic education." As a means of renewing the foundation, plans are under way to sponsor a Catholic education banquet Saturday evefifing, Oct. 27, at Crescent Bay landing, McHenry. The benefit banquet, which is the second such event, will acquaint citizens of the county with the work done by the church in the field of education. the McHenry County Catholic Education foundation is a private endowment begun by the McHenry County Board of Catholic Education in 1973, to ensure the future of Catholic education in the county. With central offices at the Resurrection center. Wood- HOMEOWNERS NEED CONCRETE? No Long Delay. Sat. Service Available. Any Amount From 1 Yd. Up. Call ACCU-CRETE, INC. PHONE: 338-4718 vou can BariM on it; STATE BANK OF RICHMOND iiiciiiIHT K.I).I.C.. One area we all agree about is the importance of a good credit record. With virtually everything in our economic society hinged on the availability and utilization of credit, the way it is developed and used is of ever-increasing importance. Statisticians now tell us that nearly nine out of every ten people will be alone sometime during their lifetime. Without a credit record of their own, people can face severe problems. In the past, credit histories for a husband and wife were found in a joint file at the credit bureau under only one name. However, through the recent Equal Credit Opportunity Act, dach may have a credit account in his or her name. Now each person can work to establish his or her own credit account and record. If you need assistance in establishing a credit record or account, visit with any of our loan officers . . . when they advise you on credit ... you can BANK on it. stock, the Catholic board supervises the religious education programs of sixteen parishes, seven elementary schools, and Marian Central Catholic high school. The McHenry Catholic board promotes^ the educational mission of the church as part of the Rockford diocesan education system. For further information regarding the foundation or its second annual banquet in October, contact Father Karl Ganss at the foundation office, 2710 Country Club road, Woodstock. SUMMER SALE BONUS DOLLARS far Remodeling & Redecorating W SOMETHING NEW FOR! WOMEN, AGE 50 and OVER! NOW FORMING FOR SEPTEMBER START P --FRIDAY AFTERNOONS • 1:00 P.M. LEAGUE # SOUND MKE FUN? STOP IN £ and SIGN UP NOW AT: •WAYNE'S LANES ^ WE'RE OPEN ALL YEAR 109 Church St. Downtown Woodstock Something New.. EVERY TUES., WED. & THURS. FAMILY DINNER \X Includes Soup, Salad, Roll and Butter . . . Only .THE HERITAGE HOUSE Rtes. 14 & 23 HARVARD EVERY FRIDAY EVENING A Delicious FISH FRY for only Includes Soup, Salad, 075 Rolls, Butter, Choice of Potato Pancakes, French Fries, or Parsley Boiled. EVERY SUNDAY SURF & TURF all at reasonable prices 75* OFF WALLPAPERS per Single roll reg. priced from $6 to $8. Offer expires 8/11/79 Offer 8/11/79 50* OFF 8/11/79 $1°° OFF PANELING per sheet priced over $10 50* OFF PANELING per sheet priced up to $10 Offer expires 8/11/79 WALLPAPERS Offer 8/11/79 * VV4! How to Redeem These Bonus Dollars You must bring in these coupons in order to get the Bonus as advertised. Coupons are good only at Plywood Minnesota warehouse-showrooms. No substitutes. All offers expire 8/11/79. * $loo OFF every square yard of CARPET when you buy carpet, padding and installation. Offer expires 8/11/79. $50 OFF KITCHEN CABINETS when you buy 10 to 20 ft of wall & base cabinets in combination $100 OFF KITCHEN CABINETS when you buy over 20 ft of wall & base cabinets in combination Offer expires 8/11/79 worth every s% Offer $5 OFF RANGEMASTER HOOD Several sizes & colors CEILINGS per 100 sq. ft. of either Armstrong or Owens-Corning ceilings -- panels, gridwork or 12"xl2" tiles Offer expires 8/11/79. s5 OFF Stainless Steel SINK & PEERLESS FAUCET Oftet„expires 8/11/79 Phone 943-6153 For Reservations OPEN FOR LUNCH Tuesday • Friday 11:30 to 2:00 p.m. EVENING DINNER HOURS: Tuesday - Friday 5 p.m. - 10 p.m. Sat. 5 p.m. - 11 p.m. Sun. 4 p.m. - 10 p.m. •E There's always a room for improvement piyw®D NTONESOJA WOODSTOCK CLOSED MONDAY 1230 Davis Road (Bypass Rt. 14 & 47) 815-338-1440 Rt 14 e t t X Davis Rd PI v wood Minnesota Warehouse Hours: Monday & Friday 0 a.m.-8:30 p.m.; Tuesday,Wednesday Thursday 9 a.m.-6 p.m.; Saturday 9 a.m.-5 p.m. V \ if