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?WI eAWAMMI IAT~MMMt ~AWVAVVW?~ AWPAWA ~AflU W ~ *Exam pie of Restraint- Safeguard Dollar-« Value of C. Tells Government structure of aur ecanomy".- In a brie! to the Ministýers of Finance and National Revenue,ý the Chamber's Executive Coun- cil said all gavernment expen- ditures including defence cam- mitments in this period o! tech- nological transition should be "care!ully scrutinized and sub- jected ta periodic review". Lasi October en excitlng event took place on CBC Radio when a 310w series of one hour programs started. Its planners called it simply-"*Praj'ct '59"1. ts purpose was twofod-te Ieep Canadians lnformed and to do It ln an entertolning way. Since Its Inception Project '59 has won plauditt from both press and public. 4Slnc that firat radtio progra n (which explared thie warld of radio) Praject '59 has gone ta Gaza ta visit Canadian troops- Iooked in on the revoit In Cuba- talked ta Canadians about their lelsure time activties-told the story ai West Germany-gone to a concert by the famous Red Army choir (especially *rranged. for CBC's Project '59). It lins aven featured pragrams consistlng aimait entlrely of soundi Project '59 Vb stert. Recently. en eppoi'fmWt arase ta present a special program on, Field Mrhal the Viscount Montgomery. Project '59's plannerS lmmediately took advantage of the opportunity. wProf oct "59 la efothe? SC -- 1 *presentation, contributing te the *excitlng new sound af C13C Radio. t S sure you stay tuned to your local CBC network station. et endonCB Tleisinmm w sg"s y sbsrieIoCec Times atthe $3.00). Wrte CBC Tmnes, Box MO0, lernilwA Toeonf o,, fO.'>. oraaajCopy. "Ini the light of thie current 1business recovery and the pros- pect of cantinuing econamic im-. provement in* 1959," said the brief, "the Executive Council strongly 1recommendi that, wherever feasible, ail outlays of a pastponable nature, whe- ther on capital or current ac- count, be deleted.froça the es- timates, in deference ta exist- ing and irrevocable commit- ménts. "In the period limediately ahead; it is possible that some budgetary deficit may be ap- propriate tô ensure 'continued recdvery in the economy. How- ever, the Executive Council be- lieves that such a deficit should be smaller than in the current fiscal year and ultimately, as ecoriomic conditions improve substantially, the government should look to a budgetary sur- plus." Ini stressing that the Canadian econdn-y has become geared ta, in *!act dependent on growth, the brie! pointed oiit that based on the experience of 1957-58 ".very- substantial increases in demand, bath domestic and for- eign, will be necessary merely ta keep pace with tbe growth o! the Canadian labour farce and the increased efficiency with which it is employed". It noted- that the 3-year (1957-59) period*in Canada "will only ap- praximate a 1 % average annual grawth in physical output, far less thon is required for dyna- mic growth". A section cf the brie!, devat- ed ta inflatign.--c4lscribed it as a complex and controversial subject in respect ta which a great deal of public education was thought desirable. In this connection, the government was told that the Canadian Cham- ber, througli, its more than 750 inember Bdards o! Trade and Chambers o! Commerce, plan- ned a program o! public educa- tion on the inflation issue. "This project, which we .are confident will neceive wide- spread approval and acceptance, is, endeavouring ta treat this difficuit; subi ect in a factuai but nan-technic-al and 'non-alarm- hst' manner and ta demonstrate that: inflation' is by no means inevitable," it was stated. In this program, the Canadian Chamber will stress "the ulti- mate danger ta every group of Canadian consumers and pro- ducers fromi the loss o! pur- chasing power o! the currency, whether this' nesuits from. a sharp depreciation or from, ero- sion over a lengthy periad. Also to be emphasized is the serious threat ta aur industries, as in- flation o! the cost structure we'akens their campetitive posi- tion at home and abroad." The Chamber's brie! was brought by a delegation headed by Morgan ~, Reid, Toronto. Chairman o! the Executive Council. The brie!, ltsel!, was prepared under the direction o! H. H. 'Edmisôn, Toronto, and George Keeping, Montreal, Ca- Daddy's VOICe. l t's lhefirsi ofrnany warmt and wonderful moments in slore for Suzie: moments Mat wiill corneIo her, by elephone, ber u'hole life th rough. The lives of ail of us are constantly enriched by hearing the voices of our children, our parents, our friends -loved ones who znay bc out of sight or fan away but are neyer out of reach by telephone. The telephone kecps us in touch with them ail - giving us so rnuch for so little. THE BELL TELEPHONE COMPANY OF CANADA Chairman af the Chamber's Publie - Finance- and Taxation Cammittee. Axnong other things, the brief said: -that while the Executive Council was concerned over the high personal and corporate tax rates in Canada, nevertheless "in. the face of a large budget- ary and cash deficit which hs obviously difficult to finance, no reductions in general tax rates' are practicable at this time". -there Is still roam. for re- vamping :and revision of tax schedules, and the removal af anom.alous taxes, "which are largely discriminatory and pro- duce -little revenue" -government policies shauld continue to stress Canada's re- liance on investment from abroad, particularly from the United States. "In other words, foreîgn savings are needed ta suppflement the savings of Can- adians if the high level o! capi- tal expenditures required ta sustain our further growth is to be adequately financed". The ".confidence factor" was very important ta ensure our future growth. -because of the many con- flicting farces in aur ecanarny at the present trne, it was dif- ficult ta make useful recom- mendations in the field o! nionetary policy. "In this same- what confused situation a 'neu- tral' but flexible monetary pal- icy seems appropriate for the time being. . . it gaes without saying, however, that monetary policy should be vigilant in the period ahead and stand ready ta help contain any inflationary pressures that might develop as the economy recovers ta the point where human and ma- terial resources are almost f ully eniplayed. -the outlook for the Cana- dian ecanomy in 1959. subject ta the likely continuance of business recavery in the Unit- ed States, is that the slow pace o! improvement o!fi'ecent months will proceed further with the prospect o! recovery broaderiing as the year pro- gresses. -"Thie Executive Council be- lieves that the resumption of a vigorous economfii growth requires that government pal- icy be dedicated ta the main- tenance o! a favourable climate for private business operations, and that policies affecting the ecanomy should be care!ully examineci with this criterion In nsind." The brief alse reiterated a number o! specific recomnien- dations regarding the Incarne Tax Act, the Excise Tax Act, the Estate Tax Act and the Cus- toms Aèt which had been pre- sented tb the Ministers by let- ter just before the end of 1958. ZION <Intended for last week) Mr-. and Mm-s. Keith Stainton entertained some a! their friends at a party on Saturday night. Mr. and Mm-s. Nom-mon Leach were supper guests at Jack Kit'- eUls, Solina, on the occasion o! their 48th wedding anniversary. Mr. and Mm-s. Melville Leath- erdale, Midland,; Mrs. Ronald Jackson, Paris, were Sunday callers at Jim Staînton's. Miss Betty Nunn spent the weekend at Toronto. Mr. and Mmrs. Douglas Skinner and fo.mily, Oshawa, were sup- Ser guestsat Jim Stainton's on un day. Mr-. and Mrs. Fred Cameron visited at George Sonley's, Toronto. Mr-. and Mm-s. Gerry Glaspeli, Mrs. F. B. Claspell, Mm-s. Donald Employment More Stable In Canada Than in US.- Bank of Montreal-Review MONTREAL - Contrary to the traditional pattern, it now appears that the level of busi- cness activity mn Canada should flot be considered as inevitably dependent on that of the U.S., accarding ta the Bank of Mon- treal's Business Review for Feb- ruary. just issud. Rather, says the review in discussing the degree of recov- ery from recessian in bath coun- tries, the two econqmies seemi to respond independently to similar influences. "In Canada, the recessian of 1957 began earlier, extended aver a langer time and was less severe in degree than in the U. S. And it has now become clear that the Canadian recov- ery got under way sooner but has been *more maderate," the bank says. Considered inly in terms of the money value of aggregate output, it can be said that Can- ada-unlike the U.S.-did flt suffer a recession. But quanti- tativey;, trends of output were legs buoyant because through- out 1957 and in the early months af 1958, consumer prices rose steadily, the B of M points out. On the ather hand, "the re- surgence of national production" ini 1958 contained practically nlo element of price infla- tion, and "in bath cauntries, the rise In consumer prices after April was so small as to be inconsequential,"1 the review adds. Einployment More Stable Further evidence that Can- ada's level of business has been firmer than that of the U.S. is seen in emplioyment figures, the B of M says, which show this country's trend of employment has been mare stable than ttat south of the border. "In bath cauntries, moreaver, the increase in total output last year was achieved with a less than commensurate increase in emrployment. To some extent this reflected a lengthening of the average work-week in mnan- ufacturing, following a shorten- ing of hours; during the reces- sion. But in addition it reflect- ed significant gains in the pro. ductivity of the average work- Throughout the periad, -per- sonal expenditure on consumer goods an.d services, accounting for the final purchase of about two thirds of ail national out- put, proved to be "one of the steadiest sources o! strength'" and personal outlays for services Yellowlees are en a motor trip ta Florida. Mr. and Mrs. John Metrailler, Hampton, are keeping house for the Gerry P1aspeils while they are away, and Marilyn Glaspeli is staying with her cousin, Joan McMaster. Mr. and Mrs. Wllfred Frank and David, Toronto, were week- end visitors at Robert Killen's. Mr. and Mrs. James McMaster, Ashton and Billy, Millbrook, were Sunday visitors at Mrs. Alex McMaster's. Mrs. Wes Cameron attended a combined birthday party for her sisters, Mrs. Ivan Cochrane and Mrs. William Preston at Mrs. Roy Eldridge's, Courtice. Mr. and Mrs. Allan Fisherý visited at Roy Leach's, Epsom. Mr. and Mrs. Harvey Webster and Alfred, Little Britain, visit- ed at Allan Fisher's. Several school children have had the mumps. LE ARra~ 1 NVI CTA Amu E LECTRA. ..says so. muoh about your own good taste SEE "ALES 0F WELU FARGOCUC-TV -CHECK TOUR LOCAL NEWSPAPER FOR TIME AND1 PONTIAC 166 King St. E. - BUICK MOTORS - VAUXHALL CARS Bowmanville mounted consistently in bath cauntries. Summarizing, the review says it seems evident that the recov- ery which got underway in Can- ada and the U.S. early in 1958 proceedJed through the closing months of the year an&. over the threshold of 1959. "In bath countries," it adds, dia revival of interest in new automobiles and buoyant retail sales in general suggest that consumer demand has streng- thened, and business inventory change has likely become a more positive influence. "These indications augur well for coýntinuedl moderate increas- es in output, employrnent and incarne in the months ahead. Even more Important for the twa North Anierican economies in the longer run could be the possibility o! adding ta the gains in productivity and preserving the comparative stability of prices that marked the past year," the B o! M review con- cludez. Memorial Hospital Weekly Report For the-Week of Feb. 23-Mar. 1: Admissions ______49 Discharges 56 Births, 9 maie, 3 female- 12 Major operations 4 Minor operations 24 Emergency treatments 13 Visiti'ng hours 2:30 to 4:30 p.m. and 7:00 ta 8:30 p.m. Need an Extra Bathroom?9 There are so niany Improveinents and repafrm yau tan make with a low-cost B of M Home Improvement Loan - from adding a bathroom ar even an extra EM M P bedroom now ta givîng the house a new coat of paint in the spring. And by keeping your house in tip-top * Wnetm shape. you protect the best investment you have,. le the bst tfme B of M Home Improvement Loans are inexpensive a for indoar home only 6% itrs per annum- and you tan repay * Wrc.r ineet* Improvernents. . them ini easy monthly instalments. mr edl - If you have home Improvements on your mind... & e aouable and prices are a playroom, new plumbing or electric wiring .. . why ftIw. flot talk ta your B of M manager today about an H.IL. - available for almost any worthwhile purpose "MYlfHNl about the house.' BANK 0F MONTREAL 6404'54;:w4e "4 Bowmanville Branch: Oshawa Branch: JAMES BELL, manager JAMES McCANSIf, Manager LIMITrED - GMC TRUCKS MA 3-3321 - 3-3322 - u, WORKINC WIl'!. CANADIANS IN !VERY WALK OP !.IFE SINC9 1817 ROBSON CHANNEL M-12590 TM CANAD" STATZS?&4N. BOYndANVffýLE. ôNTAltid 1