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wioe voua THE CANADIAN STÂ4TESMAN, DOWMANVILLE, ONTAIUO THUESDAY, FER. 7th, 1946 ru=.. ~ La lis -Insurance President Points To Dangers of Low Interest Rates 4>0 V.. RL Smith, President, Confed- MMM làe Association, in pre- »MOg the 74th Annual Repart *eu iwarpattention ta dangers M MaY follow the gavernnient's 3MY of forcing down * interest zit t an artificially low level. Ut pinte tathe necessity af hklig a argesurplus ($14,329,- 31341)becuseaithis policy. He MUi the rate of interest on invest- Mata bas been falling steadily for Mely ten years. one reason for t la that United Kingdom, United St&tes and Canada'maintain the 1 1 1of "easy money;" but, he adIe "There is danger that if ovrernments pursue this policy BMl !urtber, intercst rates on lufe arance companies' investments yo ultimately fali well below the 3 Per cent level. That is why the aMCiation must continue ta hold, fflm in the farm ai rseË4or ZMwiiha sufficient assets ta mainr 1"m required interest even though ln rate of interest on al e hveients should fali ta 2½ per 1fr. Smith continued, "I do not me the. word 'danger' lightly; nor ia it used selfishiy, as if lufe in- sunce coenpanics' afairs were Uamaunt. The danger is ta Can- mial). In the 1930's reduced bnteest rates stimulated business acuvery; and duning the war yrs, low rates, together with sriagent policies oi taxation and vage andi price contrais, assisted mmfrrially to limit the monctary a" o! waging war. One resuit yen that the per capita debts ai t tbree countnies which most miy concern us were, at Decem- ber 31st, 1945: United Kingdom, $2,200; United States, $2,100; and Canada, $1,400. Thus the low in- terest rate policy of Canada's cen- tral bank was justified up to that point. But to continue such a poî- icy is now dangerous, because it has, resulted in a deliberate expan- sion of credit, one effect of which is that Canadian bank deposits have been enlarged out of propor- tion to the growth of Canada's capacity for wealth producti*on. Thus a powerful mnfiationary force has been set in motion. While it was necessary to restrict produc- tion of civilians' goods in war time, governments should stimu- late civilian goods' production now. Businessmen want to know whether our planners can do this? "On the one hand we are told that price controls are still neces- sary to check inflation, and there- fore should be continued. But at the same time the government ap- pears to persist in the deliberate forcing downwards of interest rates to ever lower levels-no doubt to make smoother and easier their management of the national debt. Both of these techniques are evidentiy regarded as desirable for our guidance throught the re- conversion period. But we shouid recognize that there may come a point where low interest rates be- come positively dangerous. The government's "easy money" poiicy may legitimately be r'egarded as an attempt to stimulate produc- tion, but the continued control'of prices tends to restrict output-by malzing unprofitable or keeping unprofitable the production of cer- _ 520 For Prompt and Efficient DRY CLEANING f <43Look your best ail the tirne with clothes that have been cleaned at Bowman- ville leaners. Old clothes look like new and new elothes keep their sh4ape longer when they are dry cleaned often. Cail 520 for prompt pick-up and delivery. Iicwmanvil le CIeainers and IIyers Phone 520 King St., W. G<& RLqktOf< 0 0F You*Can Use Has Special1 Aco hat Worksust Fine VStimulates Mepbto bronchial . .- " chest and back sur- mawth its special faces lk. a goad, mcinai vapof warmiflg poultice nme-proved, VapoRýub's special penetrating-stimulating action starts to work m-ighty fast -and keeps on working for heurs-to relieve such mniseries of colds as coughing spasms, branchial congestion, muscular tightness. When you rub Vicks Vapoub on throat, chest and back amd see teujesuts -you'll know why it is a Gadfoar chikiren and grownups. Try it. VPORUS IPERFECT UIGIT IDESSERT There are se many ways te serve mouth - watering jelly rails. Garnish with your favorite sauce or top it with creamry ice cream. It's perfect way ta end in a light, tasty sweet. King St. E. a big dmnner when ail yeu desire You'll love its goodness! Bowmanville tain kinds of goods. "Thus, the confliet between the two policies sets up further infla- tionary pressures which ultimate- ly can make the enforcement of price and wage contrais impas- sible-more especiaily since the public conscience does not as whole-hearted1jr conden"black- marketing" in time of peace as it did in time of war. "Do not let us deceive ourselves, by supposmng that we can, with one hand, loose ever greater in- flationary forces, and with the other hand, by means of controis and prohibitions, avert this danger of our own creation." Continuing, Mr. Smith said that the patriotic urge to buy govern- ment bonds having ended, low in- terest income from government bonds are causing individuals to seek more speculative securities in the search for better returns. The average saver does not believe low interest rates give him a fair return for the savings he hires out as capital; but the service of sav- ing in order that others may se- cure needed capital is still vitally necessary to stimulate empioy- ment during the period of recon- version. Conciuding, Mr. Smith drew at- tention to the effect of continued high taxation which may become a handicap to new enterprise and the maintenance of employment at a high level. He beiieved that some of the projects contemplat- ed by the government might well be deferred until such time as they could be adopted without putting too great a strain upon the national income and economy. Obituari*es MRS. HENRIETTA ASHLEE A wide circie of relatives and friends in Bowmanvilie, New- castle and Toronto, were grieved to iearn of the passing of Mrs. Henrietta Emily Ashlee on Fni- day, Jan. 25, 1946. In faiiing health for two years, Mrs. Ashiee died at her home, 655 Bathurst St., Toronto, at the age of 58. For the past four months she had been confined to bed and finally closed hier eyes peacefully, quietly, up- on the temporal scene. She was a daughter of the late Mr. and Mrs. Charles Gomme of Newcastle, where she received her education and came to be regard- cd with hîgh esteem in religious and social circles. For many years she resided in Bowmanville until a few years ago when she took up residence in Toronto. Always a great worker in St. John's Anglican Church in Bow- manville, Ishe continued hier af- filiation w1th St. Chad's Anglican, Toronto. A faithful member of the Women's Auxiliary and the Red Cross Unit, she was aiso a member of the Silver Cross Chap- ter, I.O.D.E., and the Silverthorn Chapter, Ancient Order of For- esters. Letters that have come to the editor of The Statesman and his personal recollections are in ac- cord that Mrs. Ashlee was an ex- ceptional woman of high Chris- tian character who was always doing something for others. As a practicai nurse she was mar- velous in her devotion to her patients and particularly to child- ren. Her devotion to hier home and the community will long be regarded as ftting epitaph to her memory. Surviving to mourn hier passing are her daughter Lieut. (N.S.) Clara Ashîce, R.C.A.M.C., recently returned from overseas service in Europe, who wrîtes to say how much hier mother enjoyed the home town paper and kept in contact with hier friends in Dur- ham County. Also surviving are hier sisters, Ada, Mrs. W. Crow- ther, Newcastle; Clara , Mrs. W. T. Suddard, Oshawa, and Miss An- nie Gomme, Toronto. Her hus- band Allan Ashlee, a veteran of British Columbia. Active until two days before his death, Alex, as he was fam- iliariy known, passed suddenly. Delta Council of which he was a member, immediately adjourned and the school of which he was a trustee, also closed in respect to his memory. He was councillor for 10 years, member of the school board for 20 and chairman for 10 years. For WORM OUT day, iMa"it. doth ,work-cranky with ýr4ii. the lden-foeling in* iserable, don't - bl a» .iteon'noms'. Tour ki&ieys may ho sut of eider-for i hat ' ailn buei t e * e rM aoe by clear- ead ai op G mn mDdd'Kie bw-ad f. 14 18ye s he w sofdr ctr iW es- tern CanadaLvsakUin UniedGrinGroerVancou- ver Exhbition and BC Stock Breeders' Association. In 1929 he received a medal and 111e mern- bershlp in the Clydesdale Herse Association. A charter member af the Delta Board of Trade hie was chairman of the agricultural committee at -his death. For more than 50 years he was a member af Delta Lodge No. 21, I.O.O.F. and affiliated with King Solomon Lodge Na. 17, New Westminster A.F. & A.M.; wth the Gizeh Temple Shnine and Canadian Order ai Foresters. Mr. Davie reached British Col- umbia i 1894 with only $20 capi- tal. He worked on farms then bought his own and made a great success. A tolerant, kindiy man, he was constantly helping young people with advice and material aid. An eider o! Ladner United Church, he lived his religion and neyer a day passed without read- ing his Bible. Surviving are his wif c; three sons, ail farmers at Ladner, one daughter in Vancouver and two brothers, Peter of Youngstown, Alta., and John of Chase, B.C., aiso two sisters, Mrs. C. Aggctt and Mrs. George McHarg, Youngs- town, and two grandchildren. Many oi the aider generation of Durham County wiii remember the Davie famiiy and with regret for the passing af Alex Davie there is pnide in the knowledgc that another Durham county boy won such high success and regard throughout his adopted province. HELEN MARILYN DEWELL Gloom was cast over the entire countryside when they heard of the tragic death of Helen Marilyn, the sweet and loving daughter oi Mr. and Mrs. Percy Dewell oi Hampton. She, with a boy com- panion, wandered down to the vylage creek and accidentally fell in and was drowned. She was nearly four years old. Marilyn was ai a sweet and lavable dis- position and was liked by every- one. She was at Sunday Schoo] on the Sunday previaus with her parents. The funeral on Friday, Jan. 18, was one af the largest seen in the neighborhood, people coming from far and near and Rev. Walter Rackham spoke comforting words. The floral offenings were many and beautiful and banked the whole room and included tributes from Gen. Motors matenial hand- ling Dept., Goodyear, Stonehaven Farm, Whitby, Women's Institute and Eldad Church, Y.P.U., Eldad, Primary class, Eldad, Hampton Women's Institute, Hampton Y.P. U., Hampton Girls' Service Club, Almond's United Church, Picker- ing. The paîl bearers were uncles, Bruce Tink, Sam Dewell, Clar- ence Tink and Frank Dewell. Those from a distance attend- ing the funeral were: Mrs. 0. Cruickshank, Miss Gertrude Dew- eli, Mn. and Mrs. J. Jones, Peter- boro; Mrs. Arthur Loveli, Dexter, Mich.; Miss Ruby Dewell, Mr. and Mrs. Elmer Wiiliamson, Mr. Dal- ton Williamson, Mr. Reg Mitchell, Mr. Allen Cain, Mn. and Mrs. Wil- fred Dewell and Harold, Toronto; Mn. and Mrs. Frank Dewell, This- tletown; Mr. Alf Mitchell, Ponty- pool; Mn. and Mrs. Stanley Web- ber, E. W. Webber, Columbus; Mr. Arthur and Miss Ruth Taylor, Cherrywood; Mn. and Mrs. Jack Newton, Mrs. Geo. Bowcott, Whit- by. The sympathy of the entire community goes out ta this yaung couple in the sudden passing ai their only child. MUS. CHAS. T. LANGNAID The death of Matilda Grace Langmaid, wldow of Chas. T, Langrnaid, Darlington, occurred on Jan. 16, 1946, at the residence ai ber sÔn-in-law, Roy McGill, Enniakillen. Born in Darllngton on March 29tb, 1867, daughter ai the late Mr. and Mrs. Wm. Gimblett, Mrs. Langmaid lived her whole life in Darlingtan, a Christian waman, the friend o! everyone and the enemy of none. She was marnied an Jan. 4th, 1893, ta the late Chas. T. Langmaid wha predeceased her 21 ycars ago. She is survived by two child- ren, Elsie (Mrs. Roy McGiil), and Roy an the homcstca.d, and five grandchildren who mourn the loss oi a loving mother and grand- mother. There arc, alsa, surviv- ing anc brother, Mn. Thos. Gim- blett, Bowmanviile, and numer- ous nieces and nephews. The funeral was hcid from the residence ai her son-in-law, Mn. Roy McGill, Enniskillen, on Sat- urdgy, Jan. l9th, 1946, ta Zion cemetcry. The service was con- ducted by Re'v. J. Plant, Ennis- killen, assisted by Rev. Walter Rackham, Hampton. Pali bearers were J. D. Hogarth ançi Frank Pascoc (aid time neighbors) and Lloyd Ashton, Harvey McGill, Arthur Brunt and Milton Stainton (present neigh- bons). The beautiful flowcrs were much apprcciated by the family and tes- tified ta the estecm ai her many fniends and neighbors. MRS. ALEX MeNEIL Formcnly anc ai the capital's leading sports women, Mrs. Alex McNeil, the former Rachel "Ray" Proctor, died Jan. 2lst, at an Ot- tawa hospital follawing a lcngthy illness. She was in her 37th year. Born in County Dawn, Ireland, Mrs. McNeil came ta Canada as a young girl ai 16 with her fam- ily. She was noted as a sprinter in track meets in Ottawa, and in 1928 participated in the Olympie trials at Halifax. Mrs. McNeil held many cups and trophies which had been awarded to her for out- standing performances duning track meets in Ottawa and in competitions in other cities across the Dominion. Survivîng her in addition to her husband are her father, John Proctor, thre daughters, Lynn, Noel and Enid, and three broth- ers, Alan and Hamilton, bath of Ottawa, and Cynil at present over- seas with the Canadian Army. She was predeceased by one bro- ther, Major Hilton Proctor, who was instantly killed while train- ing as a paratrooper at Fort Ben- ning, U.S.A. Aiter a service in Ottawa on Jan. 22nd, conducted by Rev. Cc- cii Roach, the remains were en- traincd ta Bowmanville and rcst- cd at the F. F. Morris chapel where another service was con- ducted by Rev. W. G. Blake, pniar ta bunial in Bowmanville ceme- tery. THEN HE'LL STOP "Jack makes me tired." "It's your own fault," said her friend, "you should stop running aiter him."-The Pointer. EVEN THEN Junior: "We've always had a housing shortage, havcn't we Dad? " Dad: "What makes you say that? " "Well, I remember when you used ta tell me about that woman who lived in a shoe." LIn The Editor's Mai1 PROBLEMS 0F PEACE GREATER TRAN WAR STATES RURAL READER Dear Mr. Jamnes: "Again the qanadian Statesmnan cornes through." That is what I said after reading carefully your recent editorials on Liquor Stores for Bowmanville. With open mind and controlled emotions, you have weighed al evidence, then given us the find- ings. No matter where your read- ers may stand on this question no one can ask finer service of the Press. *hile studying this question for yourself and readers you have consciously or unconsciously given us the cue for solving this prob- lem not only in Bowmanville but throughout the world. First we must face it squarely. Then we must recognize in it something so tied in with the health, social well-being and economic life of a nation one cannot be studied or solved without the other. We must recognize in it something as big, as cruel, with roots as deep into the makeup and history of mankind as war itself. In fact it is but a part of the larger problema of Peace Building. Let us pull it out into the light, study it with the aid of every branch of science at our command, then as individ- uals and nations stand true by the findings. By the way, are we intelligently and sincerely tackling the Peace problem, or do we still think ab- sence of war is peace? Person- ally 1 think this uncertain brand of peace is worse than war, and is not what the whole world is yearning for. True Peace can oniy be achiev- ed when we put behind in fear of failure, misgivings and bitterness, thus rîdding ourselves of the con- fusion which is sapping our ener- gy. Perhaps while we are about it we better rid ourselves of the idea peace does not cost anything. Then there wili be the same will- ingness to invest money, time and talents in peace as victory. As we really get on the job digging out the things which breed dissension and war, methînks we will have discovered we are also destroying the tap roots of ail social evils. In peace or war an adult citi- zen's share of the burden is the acceptance of the entire responsi- bility for his own personal behav- iour and partially that of his lo- cal community. He can better do the small task in his own corner by studying these problems as a whole, not as a part. Failure or success this time will depend less than we usually think on what governments may or may not do, but rather on how individ- uals, public and private alike, build for peace within his own life and community. As we caîl in science to aid us many are wondering where the science of religion will fit in. This will depend on our interpretation of same. If our religion is nar- rowed down to man's perspective and so cluttered up with man's stupid interpretations that God Himself needs a magnifying glass to find His law, it will have little place, especialiy in the life of our returned men, or within war-torn countries. Jesus could not accept in its entirety the religion of Hîs day nor any more could He ac- cept in its entîrety ail that is said and done under the cloak of Chris- tianity in this Canada of ours to- day. If aur interpretation is that pure unseen spiritual force en- abling man to flnd bis Maker and talk and walk wlth Hlm any time, any where, no matter bis class, col- aur or creed then ln this science is the solution of this and ail prob- lerns. If God be the Architect and Master fl3uilder and we his co- workers then it is only reasonable ta believe that only in se far as we study and become familiar with His blueprints can we expect ta 1repair and build succeusfufly. Here .too is the science whereln lies the 1Power ta put our knowledge Into action. Thanking you again for true leadership, I ara Yours truly, (Mrs.) Agnes Burley Newtonville, Ont. The public address systemn dates back ta, the day the first party Uine was installed. DALYS RANGE PEKOE TEK wiTN GENERAL ELECTRIC L LAMPS GUARD your eyes when sewing, reading, studying by enjoying plentiful, soit light in your home. Choose the 100-200-300 watt General Electric Three-lite iamp for ail critical seeing tasks. MADE IN CANADA L-125 I -j TEZ CANADIAN SUTESMAN. BOWMANVnJ..% ONTARIO vàm roua TRU %SDAY, nm. 7th, 19«