Times Advocate, 1995-01-25, Page 33' Page 28
Times-Advbcate, 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 tyres-
, 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 large.
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 in 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 tilx 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 I%.
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 fat! 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 he -
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 rather
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 the Supplemental Diet Plan
TENVEN II
EXETER BIG V
DRUG STORE
349 Main St. 235-1570
HURON
APOTHECARY LTD.
440 Main St. 235-1982
For mores Information call= 1-600.361.4720
C..dW bW WaWalawI- IN, ..pa.aM oligo b.
rtta. ■ •.., •rr...t meat w- • Y owl wp..w W /W. r— r.Nr.rr.r...
.r•../ 10 .e nava bad Wall.
TV7V 1O
V,,..4 Mown' •'yl....t
Dr MIMI
GRAND BEND
WINTER CARNIVAL
"Fun for the whole f.fntily"
Weekend of Feb. 3, 4 & 5
+ Studded Motorcycle ice racing
Provincial and national championship
+ Fashion show + Gong Show
4- 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 S; 12
+ Studded Motorcycle ice racing
Provincial and national championship
+ Winter Carnival Parade
+ International Show -Sculpting
4. Snow Pitch + Snow Golf
+ Kids' Skating Party
+ Snowshoe Tours + Talent Contest
4• Sweetheart Dance
+ Waiters' Obstacle Race
+ Beach Hockey
+ Snow Football + Children's Party
+ And Rotary Children's Snow Village
For further Information call
Grand Bend
Winter Carnival 238-6776
zzzzzzxxxxxXXIflXXXXUXXXIMMUMMUmflX
Bob Seaton is 40 today. Hard
to believe he once had hair
Love your family
Bingo at Queensway
HENSALL - Residents of
Queensway Nursi,ng 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 cnjoygd 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.
Tyrimanette
Fana1
trumentr
3 IiIable
t
Cut -Away
View ptfEar
:%.scti�l
•
Our office is:happy to amounce
that we are currently felting a com-
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-
frts because of its deep placement in
the ear cant9l.
The Tyrnpanette is the smallest
hearing instrument ever manufac-
tured by Starkey Laboratories, the
world's leading manufacturer of cus-
tom
ustom hearing instruments. Its
extremely small size will be very pop.
ular, so call now for your hearing
assessment and consultation. Call
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 524-2195
HURON APOTHECARY:
EXETER 235-1982
GRAND BEND BIG V DRUG STORE:
GRAND BEND 238-8540
Coming events
SINGLES DANCE, Sunday, January 29 at the Wingham Legion Hall. Dancing from 7
p.m. to 1 I p.m. Music by Blue Diamond Trio. No blue jeans please. 4c
FiRST DEGREE syill 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 Commitmento the Health of all Canadians.
• Developing economical programs for people to live at home,
independently
• 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
C.,II your Ioc,,I Victorian Order of Nurse%
Perth Huron Branch for more information
VON
Caring •
for ye
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, 1I
a.m.; Resident Council.
Exeter
' L% LIONS TV BINGO
Mon., Jan. 23./95
Game #1: Cindy Price, Exeter, $50;
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, Clem Jeffrey, Centralia,"Janet
Bennewies, Dashwood, Mike Tieman.
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
$1000
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
t
ZZZZZZZZZZZZZZZZZZZZZ
Fxeter 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.
ii
All members welcome
ZZZZZZZZZZZZZZZZZZZZZ
Ll �I\I �ti 1,111 If I 1111 N'
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111:111\UI\lOI1 I'\1 VI\I.,„
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1'.11 1. I. 1'1( KERING
TRF 1III 1\ I!\\kItl P111
1\I) FI\1\( 111. (U\q 1.11\6
I. Paul \itl.(•n. \L•ut;tt.rr
i I(\1 11 \CI Ill N1. I -. (11\ 11)\
(519) -152-1211
nr Tull I res
1-8O0-561-745 1
Ile:ul office
1 1 1 \\:Itt rluu "heel. 1 untlnn
2-2 19
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. 28th - 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.
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fi
8
0
qBuy
dant,
daft_
spac�a�y
BAR & GRILL
235-2773
one medium pizza and get 10 wings FREE
Other menu hot spots, home style 6 oz. burgers, English
0
d
0
1
d
jd
r
Cl
l
style fish & chips. Eat in or take out
riff Ilfl`EWS,,,,,
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 235-0327
Varna Joan Beierling 233-7443
Zurich Carmel Sweeney 236-4702
Hensall Liz Sangster 262-2715
a Yo � ;'r►��;
424 Main St. Exeter
235-1331
INTERTRACK 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
Sof
1•4./