Speedway Flyer, Volume 28, Number 36, Indianapolis, Marion County, 17 September 1959 — Page 4

Page 4

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SATURDAY Ciof H BN QUIK CHEK COME TO QUIK CHEK SATURDAY AND SEE THE FAMOUS RED & WHITE CLOWNS ON THEIR SUPER SCOOTERS FREE BALLOONS. BUBBLE GUM PENCILS AND BADGES FOR ALL THE KIDS LOOK FOR OUR CLOWN DAY SHE ITEMS IN OUR HINUUIU MULED TO TOO EACH WEEK Y O UI! May Win The Free SUPER SCOOTER TO BE GIVEN AWAY SATURDAY, SEPT. 19th (CLOWN NAY) IN OUR STONE "WE ARE HERE TO SERVE YOU!" RONNY EMRY—Store Manager JOE CLEMENS—Meat Manager WAYNE CALVERT—Produce Manager BRING ALL THE KIDS FOR FUN AND PRIZES-CLOWN DAY IF YOU DO NOT RECEIVE OUR HANDBILL LEAVE NAME AND ADDRESS WITH CASHIERS

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Indianapolis Hiking Club On Sunday, September 20, the Indianapolis Hiking Club will visit Bradford Woods. They will meet at 1:00 p.m. at the State House, east side, comer of Capitol and Market Streets, and proceed via Road 67 to Bradford Woods between Brooklyn and Martinsville cut-off (about 30 miles). They plan to hike some new trails in the area and will have several different groups to accommodate the speed of the 1 likers. Bradford Woods has always been a favorite spot for the Club. Food is to be taken for an evening cookout. Leader: Bob Murray, ME. 8-8615. Bell Telephone Hour The Bell Telephone Hour will open its second season on television Friday, October 9, with a color program designed for a variety of musical tastes. Starring on the telecast, beginning at 7:30 p.m. CDT, will be the Kingston Trio, Alfred Drake, Sally Ann Howes, Red Nichols, Connee Boswell, Zino Francescatti, the Ballet Russe de Monte Carlo and Donald Voorhees and the Bell Telephone Orchestra. The first 11 programs in this season’s Bell Telephone Hour will be seen over NBC on Friday evenings in the time period the network has reserved for its big “special” programs.

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FM Popular There are 187,557 FM equipped households within the 50-county area to be served by WFBM-FM, according to a study just completed for WFBM by Walker Research Services. Within Marion County alone, there are some 40,657 FM homes, he said. WFBM-FM will be Indiana’s most powerful FM station. Program test target date is Thanksgiving Day. November 26. WFBM-FM will be independently programmed under the direction of Bob Yeager, Program Manager for WFBM-Radio and FM. Rrom time to time there will be stereophonic broadcasts in conjunction with either WFBM-Radio or WFBM-TV.

TRI KAPPA BRIDGE-A-RAMA BEGINS OCT. 1 Barr Reports Joseph W. Barr, Member ot Congresss, 11th District, Indiana, said in a major speech before the House of Representatives that gold reserves of the United States are now getting down to a place that will force the United States to make some major changes in its programs of mutual security spending and military expenditures overseas. Barr, one of the few graduate economists in Congress, said, “In the past ten years the gold stock of the United States has dropped about 5 million dollars. On the other hand, our short term dollar liabilities to foreign governments have risen from about 7 billion dollars in 1950 to about 15 ¥2 billion today. The record for the past 10 years shows a steady decline in the gold reseources of this country which have resulted from an 11 billion dollar deficit of payments since 1950. “The first time that I appeared on the Floor of the House I was defending additional investments by the United States in the World Bank and the International Monetary Fund. Part of this investment had to be made in gold (344 million dollars). The distinguished gentleman from Florida, Congressman Haley, asked me ait that time whether we had enough gold to justify this investment and also went ahead to ask if we had enough gold to cover our currencies, the deposits in the Federal Reserve System, and still meet our Obligation to pay in gold all the foreign claims against the country. These questions haunted me, and this research is an attempt to answer the questions. In my opinion we do have enough gold to justify the investment which this nation has made in the World Bank, International Monetary Fund, and the newly created Inter-American

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Bank. We do not have enough gold to meet all the potential claims against us. “We have not lost gold because American industry, labor, and salesmanship have been doing a poor job. On the contrary, we have maintained the export position of this country in the face of dramatically increased competition from Germany and Japan. Our share of the world export market is the same today as it was in 1950. We are not losing gold because the imports of this nation are rising spectacularly. Sometimes it might appear that this is the case, but the fact is that we are buying relatively less abroad in proportion to our total income than we did in 1950. The main fault lies in the fact that the government of the United States has simply spent money in

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Thursday, September 17, 1957

foreign areas on military expenditures, on grants, and on loans, faster than we can earn it. This is the reason that we have spent about 11 billion more overseas since 1950 than we have earned. “The cold, hard facts of this situation point up the necessity to change our foreign aid and military expenditure programs. We are not in immediate danger at this point, but we cannot continue to run another 11 billion dollar deficit in the next decade without weakening our financial leadership and handing the Communists an important victory. From now on in, it is time for this nation to shift a good part of the foreign aid program to our allies in Western Europe and Japan and tell them, ‘Look, we will do oUr share cheerfully, but now it is time for you to do yours.’ ”

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