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Home My WebLink AboutTimes Advocate, 1995-01-25, Page 32Pitse 2,5 Times -Advocate, January 25, 1995 Your Views Letters to the editor Public debt is driven by high interest rates Even when the dollar falls, infla- tion need not become serious... Dear Editor; In December, on CBC news, Finance Minister Martin claimed our high interest rates are beyond Canada's control, - Nonsense! We can and must ac- cept our own responsibility for fiscal and monetary policy that promotes more business activity and jobs. For 20 years, our own Bank of Canada with MP's support has focussed on high interest rates to wres- tle the demon of inflation to the ground. Since 1976 high interest rates have indeed run our domestic economy into bankruptcies, deficits and bad debts. The very Bank set up to stabilize our Ca- nadian economy has crushed recent inflation but at inexcusable levels of human suffering. We have be- come slaves to our economy rather than the reverse. Public outrage is needed to stir only MP's to accept their elected responsibilities to re -stabilize our fi- nancial footings. Our Ottawa government should be neither servant of the Provinces nor servant of the big corporations but rather servant of we the electo- rate at Targe. High interest rates for 20 years have stood this blessedly rich nation on its head. Monetarism has cost us dearly in lost sales abroad, especially hi raw materials and jobs in these sectors. Government costs grew too as competition for loans increased as rates rose. Indeed governments were forced abroad to raise capital for services here. Non-resident in- vestors gobbled up already scarce cash in repay- ment of their interest. This money left forever. As we grew dependent on foreign investors our sove- reignty became dependent on foreign money lenders too. High interest rates are inflationary in themselves since all business costs get passed on to consumers. Presently borrowers and small businesses become slaves to debt while lenders become richer faster at higher rates, and social tensions grow ie., welfare, UI... Compounded high interest charges soon can double accumulated debt and even strangle chances for new growth. High rates even discourage investment that could have led to more productivity while consumer de- mand shrinks and growth stalls. We come full circle when governments collect less tax revenues but are expected to fill the greater demand for expanded so- cial services. Low rates can reverse this paralysis. A made -in -Canada low interest rate policy will again give Canadians a fresh start to reduce public debt but also spur on our economy. Repeated annual deficits have resulted nearly in total, from high in- terest charges on existing governments' debt by compounding. Now, my family of 4, pays over $6000 annually in government interest charges alone - a sad waste of tax revenue! Finance Minister Martin should use the existing constitution and lower interest rates to any prudent level tomorrow in spite of foreign investors and present Central Banking Policies. Should bond pric- es fall, he can re -purchase them at big discounts us- ing short -fall cash from our Bank of Canada at 1%. Eventually we would buy up all foreign debt and re- gain our economic sovereignty. Let's quit wasting billions of dollars to prop up a failing dollar too. Let it fall slightly but be ready to reap giant rewards in new exports, jobs and revenue. By imposing exchange controls and offering tax breaks to invest at home, the flight of Canadian cash abroad can be reversed to rebuild our own business- es. Even when the dollar falls, inflation need not be- come serious. Prices are not likely to rise much when we have such excess production capacity and high unemployment still. Our Bank of Canada must again reflect the needs of the Canadian electorate more than the powerful bankers with self-serving interests. Prime Minister Mackenzie King wisely stated "Without Govern- ment creation of money, talk of sovereignty and de- mocracy is futile. "Our present government creates only 2% of all new money - the banks create the bal- ance. After two major recessions in the last ten years it • will be a Canadian tragedy to continue repeating our errors. Canada's future is too precious to leave it to politicians alone. We must demand that the Bank of Canada be re- stored to its original purpose of preventing rathej than initiating recessions but let's demand social programs remain until we re-examine generous tax shelters for richer citizens and corporations first. Mr. Jack L. Biddell CA, outlines many wise and innovative options for economic recovery in his re- cent book "A Self -Reliant Future For Canada". We the people, can be the difference. Clip this letter and mail it postage free to your M.P., Mr. Paul Steckle c/o Parliament Hill, Ottawa. Respectfully, Patriotically, David Hern, Woodham, Ontario. With Um Supplent.ntal Mt Plan TENNIS /ill EXETER BIG V DRUG STORE 349 Main St. 235-1570 HURON APOTHECARY LTD. 440 Main St. 235-1982 For mores Information calls 1-0004e1-4720 Cnrn,Yl ked 6.4 rows wlqewer. M •N•Is. Two. ■ •„r, •i0e•-. mein w poi . b awl SaMenti P4 IMAM — V>'W••••••I Nowa rol moo* lits, re, M nisi tondo. mNCI la n,..� la 1Ilepplesums Y R11 Dia XXXXXXxxxxxxxxxxxxxxxxxxxxxxxxXXXXXXXXXXXXXXzzzz GRAND BEND INTER CARNIVAL Bob Seaton is 40 today. Hard to believe he once had hair Love your family Bingo at Queensway HENSALL - Residents of Queensway Nursing Home in Hen- sall gathered last Tuesday after- noon for their regular church ser- vice. Rev. Henry Annen was the minister for the service accompa- nied by Joyce Pepper on the key- board. Rev. Annen celebrated com- . munion service for everyone. Hazel Corbett and Hilda Payne assisted Rev. Annen with communion. On Thursday afternoon there was a movie matinee. Residents watched 'Return to Snowy River'. Some enjoyed watching the beauti- ful scenery and others enjoyed the action and story line with the hors - Later on Thursday, the 1st Bea- ver Pack and the 1st Cub Pack of Hensall came to provide an evening of bingo for all the residents. The bingo was a success and everyone enjoyed seeing and visiting with the children. Liz -McAuslan ar- ranged the visit and the bingo. Our office is.happy to announce that we are currently frtting a com- pletely pletely in -the -Canal hearing instru- ment. This remarkable new hearing instrument is not only more discreet and comfortable to wear, but may also provide important hearing bene- fits enefits because of its deep placement in the ear canal. The Tympanette is the smallest hearing instrument ever manufac- tured by Starkey Laboratories, the worlds leading manufacturer of cus- tom hearing instruments. Its extremely small size wit be very pop- ular, so call now for your hearing assessment and consultation. CaII today to schedule your appointment. THE HEARING CARE CENTRE: 1 RUTLEDGE STREET, UNIT 15 LONDON, ON (519) 473-2700 Serving you locally at: WALTHERS PHARMACY: MITCHELL 348-8833 CUNTON PHARMACY: CLINTON 482-5037 DUNLOP BIG V DRUG STORE: GODERICH 5242195 HURON APOTHECARY: EXETER 235-1982 GRAND BEND BIG V DRUG STORE: GRAND BEND 238-8540 "A WORLD OF IMAGINARY PLACES" Weekend of Feb. 3, 4 & 5 + Studded Motorcycle ice racing Provincial and national championship + Fashion show + Gong Show + Local Snow Sculpting + Snowpitch + Snow Golf + Kids' Drive-in Movie + Puzzlemania + Teen Talent Contest + Stars of Tomorrow Talent Contest + Figure Skating Demonstration + And Rotary Children's Snow Village Weekend of Feb. 11 8& 12 •A Studded Motorcycle ice racing Provincial and national championship + Winter Carnival Parade + International Show -Sculpting 4' Snow Pitch + Snow Golf 4• Kids' Skating Party + Snowshoe Tours + Talent Contest + Sweetheart Dance + Waiters' Obstacle Race + Beach Hockey + Snow Football + Children's Party + And Rotary Children's Snow Village For further Information call Grand Bend 238-6776 Winter Camlval XXXXXXXXXXXXXXXXX=222XIMTMXXXXXM owing events SINGLES DANCE, Sunday, January 29 at the Wingham Legion Hall. Dancing from 7 p.m. to 11 p.m. Music by Blue Diamond Trio. No blue jeans please. 4c FIRST DEGREE will be conferred by Exeter Oddfellows on Tuesday. January 31. 1995 at Lodge Hall. All Bros. welcome. lunch will be served. 4• SOLO TOURNAMENT, Mount Carmel Church meeting room. Saturday, February 4, 1995. Registration 12 noon. Solo 12:30 to 5 p.m. Prizes. sandwiches and pop. Free cof- fee. 4.5c EXETER LEGION Weekly Meat Draws every Saturday afternoon between 4 - 6 p.m. Proceeds to Cadet Corps. Sign up for Snow Pitch and Snow Golf for Grand Bend Win- ter Carnival. Valentine Dance on Saturday, February 18. 4.7c NATIONAL VON WEEK JANUARY 22-18, 1995 Serving the Community Since 1896 Although, The VON is nearly a century old, we're reinventing ourselves to serve the community better WE ARE • Renewing our Commitmerrto the Health of all Canadians. • Developing economical programs for people to live at home, independantly • Pioneering new approaches to problems ( Family Violence, etc.) The VON Works Locally in the Community • Offering practical programs to promote Health/Independence (Footcars, Adult Day Program, Meals on Wheels, Nursing/Support Services) • On call to work with your family or organization 0111 your local Victorian Order of Nurses. PCIth-Huron Brant 1 for more information VO DN innimmink CarfongLj fe J HURON 115 King St., Box 119, Hensall 262-3320 Friday afternoon residents began thinking red and made a whole as- sortment of heart decorations for everyone's doors, rooms and the hallways. Upcoming events January 26, 7 p.m., January birth- day party; January 30, 8 a.m. Breakfast Club; January 31, 11 a.m.; Resident Council. Exeter 1. LIONS TV BINGO, Mon., Jan. 23./95 Game #1: Cindy Price, Exeter, S50; Game #2: Alice Nadon, Huron Park $50.Game #3: Eva Tyler, Dashwood. S50. Game #4: Kerry Rock, Huron Park, $75.; Game #5 6 winners: Eva Tyler, Dashwood, Rita Lessard, Huron Park, Clern Jeffrey, Centralia, Janet Bennewies, Dashwood; Mike Tiernan, Dashwood, Frank Ducharme, Exeter. Game #6, Susan Brown, Dashwood $450. Next weeks jackpot, $250. In 48 numbers. Please play Lions TV bingo! Lucan Community Centre Bingo Wed. Jan. 25 Bingo starts 7:30 p.m. Regular Games $1.000 Jackpot Game 50 calls or less $200 bonus Total prizes $3000 Due to the licence 'regulations, no one under 18 allowed to play Licence #537495 fiximixxxxxxxxxxxxii Exeter Agricultural Society Annual Meeting Fri., ,Jan. 27 Three AAA Restaurant 7 p.m. dinner, 8 p.m. Business For dinner reservations call Barb Passmore 235-0430 or Doris Weigand 235-0814. All members welcome zzzzzzzzzzzzzzzzzzzzz RI \I\I \\ Itll I I(1 1111 \' \I(1\I 1 I'ItlrI I1 \1\ ( OI \ I O\ Hd )R 1A\ I'd 111\1)I.\1'Ot I I'll\11 \I\ I OI(I MT( ()\\I I I \ 11((\ (:111 1'.\l I. J. 1'1(.1i1.1RZI'() x11.1 I\ \KR! 1'It 1 \\It 11\ \\t III (l)\t 1.1I\ll .I. I';tul .litls('n, .\tanager iC11ll.\CI I(1 \I.1 .1 Il\Ito\ (519) -182-1241 i Hr T1)11 I rut- 1-800-561-'1451 cc1-800-561-7451 Ilc:ul (mite I 1 1 \\:iturluu Sired, London 6-2-219 • Royal Canadian Legion R.E. Pooley Branch #167 Exeter, Ontario Coming Events Thurs. Jan. 26th - Leadership Seminar 7:30 p.m. - Canadian Room - General Meeting, 8 p.m. - Club Room Sat., Jan. 28ths- Meat Draws 4 - 6 p.m. proceeds to Huron - Middlesex Royal Army Cadet Corps - Legion Sports Night Register 7:30 p.m. - Starts 8 p.m. SINT i arSOWO To reach the correspondent in your area: Centralia Mary Peterson 228-6992 Granton Muriel Lewis 225-2578 Saintsbury H. Davis 227-4153 Staffa Roberta Templeman 345-2346 Thames Road Rhoda Rohde Varna Joan Beierling Zurich Carmel Sweeney Hensall Liz Sangster 235-0327 233-7443 236-4702 262-2715 424 Main St. Exeter 235-1331 INTER ' CK WAGERING Live Via Satellite at Jonnymores Starting Monday January 30 Monday & Thursday from Woodbine Tuesday & Wednesday from Windsor Post Time 7:30 pm Free Admission Giant Screen plus 5 small screens K.► � r J GAR' 6 doh R 0 If aP spec/any 6 IIAR&GIIILL 0 235-2773 �b Buy one medium pizza and get 10 wings FREE Other menu hot soots home style 6 oz. burgers, English style fish & chips. Eat in or take out L., /.J,./.1../.,/. /.,/.,/r/. Cf... ,/..rC. /. f../. oe iCY./.,r. C/ r.,r..C,C,— SINT i arSOWO To reach the correspondent in your area: Centralia Mary Peterson 228-6992 Granton Muriel Lewis 225-2578 Saintsbury H. Davis 227-4153 Staffa Roberta Templeman 345-2346 Thames Road Rhoda Rohde Varna Joan Beierling Zurich Carmel Sweeney Hensall Liz Sangster 235-0327 233-7443 236-4702 262-2715 424 Main St. Exeter 235-1331 INTER ' CK WAGERING Live Via Satellite at Jonnymores Starting Monday January 30 Monday & Thursday from Woodbine Tuesday & Wednesday from Windsor Post Time 7:30 pm Free Admission Giant Screen plus 5 small screens K.►