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Zurich Citizens News, 1974-06-06, Page 4PAGE 4 ZURICH CITIZENS NEWS THURSDAY, JUNE 6, 1974 German hyperinflation was stop- ped when a new government announced that there would be a new unit of currency, also called the mark. It would be backed by the value of land and, by some miracle, when the new mark was issued, people believed in its worth and stopped buying goods and gold. General de Gaulle stopped a serni-runaway inflation in France by announcing that there would be a new franc worth 1/100th the rapidly depreciating francs then in existance. Be- cause of the respect lie comm- anded from the French people, lie was able to persuade them that the new currency would be good and they meekly exchange( their 100 franc notes for one franc coins and the runaway inflation stopped. During moderate inflation, such as what we have now in Canada, most people work, accept their pay, grumble about rising prices but do not give up faith in the system. In hyperinflations, people can no longer afford to work, although they desperately need income. More and more people leave the labour force to be - (continued on page 5) Back to square one! The budget brought down recently by Federal Finance Minister John Turner no longer means a thing to Canadian businessmen and taxpayers --except that it was the signal for another general election, the second in less than two years. To no one's surprise the Progressive Conservatives and the NDP joined forces to put an early end to Prime Minister Trud- eau's second term of office. After listeneing to one of the first political speeches on television a friend of ours heaved a deep sigh and said, "To think we have to listen to that baloney for the next two months!" His apathetic response to what was intended as an impassioned plea to the voters is, perhaps, indicative of the attitude which will pervade much of Canada for the duration of the election campaign. Vast numbers of people are already saying, "Who needs it?" it is regrettable that this election will be met by bored indif- ference, because for the first time in many years there is a recognizable difference in the platforms which will be mounted by the two major parties. Rather than both trying to outdo each other in the promises of the same sort of goodies for the pop- ulace, this time the promised objectives of the Liberals and Conservatives are widely divergent. The Liberal candidates will campaign on the basis of the budget which failed to get onto the statute books, clainting that the problems of inflation, under -employment, environ- ment and energy supply must be met individually as their various crises threaten. Iri direct contrast is the Progressive Conservative vow to bring in immediate price and wage controls. The stand of the NDP has changed little since the last election -- a simple, "take from the rich and give to the poor" the poor being chiefly organized labor. There is a little point in presenting the opposing arguments here, for you will hear all of hem a thousand times in the next few weeks. Briefly, the Liberals will contend that Canada has fared better than most other nations as far as inflation and energy supply are concerned, although they will find it diffic- ult to convince most Canadians that Agriculture Minister Eugene Whalen is riglt in his repeated contention that Canadian foods still come to us at "bargain, " prices. The PC's will appeal for votes with the promise that they can lick inflation by rhe single act of putting a freeze on the price of consumer goods and the existing level of wages... a course of action which has proved anything but satisfactory in the United States. If all the politicians would get together for a general policy study before the campaign starts their chief concern might well be the apathy of the electorate. If they were truly wise they would agree that a sizeable reduction of television exposure would be beneficial. There is no way the Canadian public can be expected to respond with anything better than boredom to the eternal rehashing of the sante promises and the sane accusations day after day. We live in the greatest country in the world. It's far front perfect, but it's still the best. Our system of government has many flaws --but it could not produce a Watergate. It's worth every possible effort on the part of its citizens --and election time is the only occasion when the voters of the land are act- ually in the driver's seat. It behooves us to steer a well-chosen course. (Mt- Forest Confederate) Brotherly love in action! Last weekend a swarm of Mennonite farmers moved into the town of Bridgeport, near Kitchener. They tool< off their coats, rolled up their sleeves and went to work on cleaning up after the serious flood which followed heavy rains at niid-weel<. Tt is unlikely they were aksed to help. As in numerous other instances, the Mennonites were simply practising the sort of Christian behaviour in which they believe and which is a part of their way of life. Their attitude is in sharp contract to that of other peoples in so many parts of the world. Despite a long history of pers- ecution in Europe the brethren have nor resorted to retaliation or violence. They believe that the meek will inherit rhe bless- ings of God and aiding a neighbor in distress is a solemn oblig- ation. One of the earliest Mennonite migrations into Canada occurred in the opening years of the last century when the major portion of Waterloo Township was bought and settled by farmers who left well-developed and prosperous holdings in Pennsylvania to pioneer in the wilderness of central Ontario. Their shrewd ability to select good land, even when it was covered by dense forest, did not fail them in Waterloo: They cleared some of the most productive acres in North America. When we drive through the lush countryside of the Waterloo area, it is evident that a quiet, non-violent way of life has its own rewards. ZURICH Citizens NEWS PRINTED BY SOUTH HURON PUBLISHERS'ZIMITED, ZURICH HERB TURKHEIM, Publisher Second Class Maiil Registration Number 1385 pts at ��t, ff* Member: "'��`''° Canadian Weekly. Newspapers Association Ontario Weekly Newspapers Association ,,I` Subscription Rates: $5.00 per year in advance in Canada; $6.00 In United States and Foreign; single' copies 15¢ International Scene (by Raymond Cannon) WHAT SORT OF ELATION IS THAT? With prices rising so rapidly these days, there is a great deal of tail< about things such as infl- ation, stagflation, hyperinflat- ion and all the other flations. You all know what inflation is about; you have only to look at your wallet after you have fin- ished doing your week's grocery shopping. If you lived in Ger- many after both World Wars, you will know what hyperinflat- ion is too but for the uninitiated here is a short sketch of what happens when inflation gets out of control. hyperinflation is about the most destructive econoniic exp- erience that a modern society can undergo. In the German hyperinflation of the 1920's, for example, prices rose so rap- idly that in hotels with foreign clientele, the number of marks a meal cost would not he stated until the meal was finished, at which point the latest quotation for German marks would hurried ly be calculated and the bill figured accordingly. Inflation went up and up until common postage stamps cost 9 billion marks each and a worker's weekly wage carne to 120, 000, 000, 000 marks. Newspapers and magazines of the period showed people bringing their pay home in wheelbarrows -- hundreds of trillions of marks worth next to nothing. These hyperinflations are as much a political phenomena as an economic one. They indicate a collapse of faith in the vital- ity of the economy and in part- icular a loss of belief in the magic power of money to serve as a store. of value. As a result, farmers typically hoard food- stuffs, rather than accepting IDB OPENS STRATFORD OFFICE B. B. Baron The Industrial Development Bank announces the opening of a branch office' at 1032 Oritario Street, Stratford, wit h Mr. B. B. Baron as manager. IDB provides financing, usually in the form of term loans. to businesses which are unable to obtain financial as- sistance from other sources on reasonable terms and condi- tions. IDB makes Loans to almost. every type of business including manufacturing, tourist industry, construction, wholesale and retail trade, agriculture, and many others. The manager of the new office, Mr. Baron, joined IDE in 1967 and prior to his present appointment he was assistant manager of the IDE office in London. The staff of the new office also includes F. Ellahi, N. G. W. Peever, and E. G. Roe who were previously at the London office, and H. A. Sheldon who was at the Kingston office. payment in currency that they expect to be only so much wall- paper in a matter of months or even weeks. Merchants and manufacturers are unable to make contracts, since suppliers ask enormous prices in anticip- ation of price rises they feel are sure to follow. Storekeepers are unwilling to sell goods to customers since the sale of such good means giving up the true value of the goods for the doubtful value of paper money that no one trusts. Governments find their tax receipts inadeq- uate to cover expenditures and run the printing presses as if they were going out of style so that they can pay their cur- rent accounts. There is an enor- mous flight from money into goods or into commodities, such as gold; things that people still consider to have value. The only cure for hyperinfl- ation is getting rid of the curr- ency in which everybody has lost faith, and the institution of a new unit of currency in which people believe. The Business and OPTOMETRISTS rofessioaad Direct J. L. Longstaff OPTOMETRIST SEAFORTH MEDICAL CENTRE 527.1240 Tgesday, T tursday, Friday, Sat- urday a.m., Thursday evening CLINTON OFFICE 10 lasso Street 482.7010 Monday and Wednesday Call either office for appointment. Norman Martin OPTOAAETRIST Office Hours: 9.12 A,M. •— 1:30-8 P,M, Closed all day Saturday Phone 235.2433 Exeter INSURANCES Robert F. Westlake Insurance "Specializing In General Insurance" Phone 236-4391 -- Zurioh NORM WHITING LICENSED AUCTIONEER & APPRAISER Prompt, Courteous, Efficient ANY TYPE, ANY SIZE, ANYWHERE We give complete sale service. PROFIT RY EXPERIENCE Ph ::le Collect 235.1VM tKUTER AUCTIMISIERS Pf RCV WRIGHT LICENSED AUCTIONEER Kippen, Ont. Auction Sale Service that is most efficient and courteous. CALL THE WRIGHT AUCTIONEER Telephone Hensen (519)262-5515 O & J RIDDELL AUCTION SERVICES * Licensed Auctioneers and Appraisers • Complete Auction Service • Sales large or small, any type, anywhere ^' Reasonable — Two for the price of one Let our experience be your reward. Phone Collect 'Doug' 'Jack' 237-3576 237-3431 Hugh Tom FILSON and ROBSON AUCTIONEERS • 20 years' experience of complete sale service Provincially licensed. Conduct sales of any kind, any place. To insure success of your sale. or appraisal Phone Collect 666-0833 666-1967 Guaranteed Trust Certificates 1 and 5 YRS 10% 2,3,Fi 4 YRS 9 3/40 J. W. ZURICH GERALD 1. MERNER Chartered Accountant BUS: 20 Sanders E. — EXETER — 235-0281 RES: 10 Green Acres —.GRAND BEND — 238-8070