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The Brussels Post, 1957-01-23, Page 2ete 'tse'tkai4eA CAN PRESENT CURBS HALT INFLATION? "There are at least two sources of inflationary pres- sure which the central bank; with its present powers, will find it difficult to reach," said Mr. Muir. "First, it is possible, even with no increase in the money supply, to increase the acti- „ VitY of that supply by putting otherwise idle funds into the heeds of spenders through the ordinary devices provided by the capital market. "Second, it is possible, with no increase in the money sup- ply, to increase the funds available to businessmen and consumers from sources other than the financial institutions ordinarily controlled by our monetary authorities. "In lsoth cases, we have, in the classic phrase, an increase in the 'velocity of circulation', but the implications for pol- icy are sufficiently different-to merit separate treatment. "It would seem to be at least open to doubt whether the present facilities and tech- niques available to our mone- tary authorities are sufficient- ly wide in scope to deal with present-day problems of cre- dit control. The classical wea- pon — upward movement of interest rates, largely through commercial banks — may by itself prove an impotent pol- icy. It may be taking too posi- tive a view of a distant scene, but it would at least appear that, in order to be fair and in order to achieve the best re- sults, our monetary and credit control may have to embrace a wider area of our financial world than it now dbes. "A rigorous monetary pol- icy has already enjoyed a large measure of success in the traditional area of bank credit. Its over-all success may depend in large measure on the efficacy of the volun- tary arrangements already reached in the non-bank area, or on the extension of credit control by the central bank or other organs of..egovern- I./lent to include this increas- ingly important source of liquid funds." r S T /owl fal4a4 aptuvseeoli Annual Meeting of Shareholdus he R9yal Bank of Canada Total Deposits have now passed $3 1/4 billion mark Mines Muir questions if Canada developing her human resources as effectively as her natural resources Present teachers' salaries make decent living standard impossible for those who train and mould .character of youth. Effective control of inflation may not be possible without broader central bank powers. "Dear Anne .1-liret' I am not Asking, you how to' get, this boy back — I don't think I want him., But I do want to know how .a girl can tell whether a boy is just feeding her a lines. "I went steady with this boy for two weeks, which I now know as .silly, but • he declared. he loved me and peerellSed the moon and stars. Then seed- Only it was over, He told me he. just likes to date a girl 'eight. Or 10 times, and ditch her. I have learned since that this is true, "Are all boys like that? DO they just string you along until someone new takes their fancy? gitl can't like somebody she IS, afraid to believe and . trust, I am 17 but, honestly, I . am.. just about fed up with boys. DISGUSTED" MALE BEASTS * No, my friend, all boys are * not like this one, but the * species boasts a larger mem- * tership than one likes to ad- * mit. Full of conceit, they flit * from one girl to another try- * ing out various patterns to * win favor, and they file re- * sults with the smug comment, * "That was easy." They are * out for Experience with a * capital E, and are not in the * least concerned with the state 4 of a girl's heart as- they say . * geod-bye. Modern Plague One of the strangest weak- nesses of the human mind is sug- gestibility. Coupled, as it Some- times is, with, a tendency to ex - hibitionism — and inordinate craving for the spotlight —it lies back of the fads, the phobias, the manias, and the crazes that oc-‘ casionally teem to sweep a com- munity or a nation, The two join all too aften to push un- stable thinking over into -be- havior that ranges from the criminal to the merely bizarre, Let enough amateurs ape a professional flagpole sitter, and people begin roosting on flag- poles, trees and steeples all over the country, Let enough bobby- soxers swoon over a crooner, enough dowagers moon over a matinee idol, some unknown man get headlined as a "mad bomber" and the country witnesses a plague of swooning, mooning, or bomb hoaxing. New York. City has been go- ing through a siege of bomb scares, perhaps 95 per cent of them only scares. And the hoax suggestion has begun to travel to other cities — Hartford, Con- necticut, for instance. But the plague hasn't been all hoaxes, And that's what pre- sents public safety officials with a difficult problem. For the past 16 years over 30 "live" bombs have been planted around the city -- all bearing evidence of the same crude workmanship. So it has been imperlitive that of- ficials investigate every "tip", take every precaution, in spite of the high percentage of false alarms. One additional obligation rest upon them: that they remain cool anemake as little fuss about it as possible. This obligation rests also upon all media of communi- cation, and upon the public as well. For excessive publicity about the hoaxes is the very thing that stirs up more hoaxers —and, perhaps much more seri- ous, the inflated egos of pre- cariously balanced mentalities which might end up doing actual harm — From The Christian Science Monitor. Easy to Make SKIRTS DOUBLED — From Paris, France, comes this swim-suit with two skirts. Bathing en- semble, from the 1957 resort collection of Brigitte of Cannes, consists of a one-piece suit in white cotton, framed in bands of colorful print, with a match- ing skirt for town wiar. UNSPOKEN THOUGHT Bobby Bragan, the fiery ex- Dodger who is now a master- ful minor league manager, once asked an umpire, "What would you do if I called you a meat- head, sour-pussed old crab?" "I'd run you out of the game." "And if I thought you were all that but wouldn't say it?" "I couldn't do anything." Bragan stood silently for a moment, looking straight at the ump Then he said, "Okay, we can now resume play." NEW PRINTED PATTERN EASIER--FASTER MORE ACCURATE • (11/ rteette4 WItCrafi, Easiest toys you've ever made — just right for baby! Tiny tots will play happily for hours with these adorable cuddle animals! Very easy — each two pieces, plus ears. Thrifty — use scraps! Pattern 696: Transfer, directions for 4 toys, about 6x8 inches. Send. TWENTY-FIVE CENTS (stamps cannot be accepted, use postal note for safety) for this pattern to Laura Wheeler, 123 Eighteenth St,, New Toronto, Ont. Print plainly PATTERN NUMBER, your NAME a n d ADDRESS. Our gift to you — two won- derful - patterns for yourself, your home printed in our Laura Wheeler Needlecraft Book . . . Plus dozens of other new designs to order — crochet, knitting, embroidery, iron-ons, novelties. Send 25 cents for your copy of this book NOW — with gift patterns printed in it! K. M. Sedgewiek, General Manager, noted, that not only had the assets of the Royal Banit reached the imposing total 01 $3,571,298,320 but that depositi had passed the $31/4 billion mark, both new high points in. Cana- dian banking history. While our loaning policy during the year was a restrictive one," said Mr. Sedgewick, "in line with our agreement with the Bank of Ca- nada, yet the buoyancy of our economy demanded that we ac- commodate Many deserving cli- ents with new or increased lines of credit. For this reason, the commercial loans of the bank in- creased by $125,000,000 or just over 10%." The bank's liquid position, he pointed out, contin- ued strong, total quick assets' of $1,958,263,058 representing 57.86 per cent of the bank's liabilities to the peblic. Capital Furl& now stand at $187,701,633, represent- ing an increase of approximately $36,000,000 during the year." "In spite of lower balances in Government accounts of some $45,000,000," said Mr. Sedgewick, "deposits of the bank increased by approximately $216,000,000. The number of our depositors grows steadily and we receive much satisfaction in realizing the high percentage of the country's population who deal with us." Earnings for the year were $12,- 467,268 after providing for de- preciation and income tax. This figure compara with $10,858,480 in the previous year. Mr. Sedgewick discussed the bankes extensive building and renovation programme, a n d mentioned that branches and sub-branches operating in Cana- da numbered 797, while those abroad totalled 75. ROYAL BANK ABROAD "International banking on a broad scale lees been a special characteristic of the bank for a long period," said Mr. Sedge- wick. "It has long been our pol- icy to select business carefully and, as a result, the asset posi- tion of our Non-Domestic branches continues at a high standard. For over ten years, a special section of the bank's Foreign Department has been devoted to the development of information necessary to ,those engaged in trade, and the 'per- manent staff of this department is augmented by the flow' of senior men between overseas branches and Head Office." This, Mr. Sedgewick mentioned, makes the bank well equipped to ren- der a specialized and essential service to clients and others en- gaged in foreign operations. He stressed that in an organization such as the RoyaL Bank, there are always worthwhile oppor- tunities for young Canadians who have special aptitudes and are interested in ,a banking ca- reer abroad. 4' You served this boy as Ex- • hibit nine or 10 in his book. ' Let the fact lie there — but 4' use it to your own advantage, .4' To go steady with a boy * you've known two weeks is 4 to set him on top of his world, * a flattering but foolish- am- * gettion. Immediately you are * cut off from any other dates automatically removed from ' circulation, If your next beau * wants to go steady as soon, say * "Oh, I don't know you well * enough," and let him work to * win whatever laurels you find * he deserves. That will put him * on his toes, and you will rise * on his list as one girl that has * to be shown, To fall on his * neck at the first demand would * be to identify yourself as one * whose favors are had for the * asking. That isn't good enough * for a girl like you, * Boys like to date the girl * that other boys admire. When * they see her around with soy- * eral, they begin to wonder * what secret attraction she has. " Yes, every boy has a line, * The smart girl lets him toss it * out, nibbles at it with reser- * vations — but she doesn't * swallow the bait. Only when 4' he has shown he is dependable, * considerate and someone she " is proud to be seen with, is he * worth ditching other boys for. * Even then he should be on " trial. * * BRUTAL HUSBAND "Dear Anne Hirst: I wonder how many other wives dread paydays in their homes? My husband gets tight, and makes -my life and our little son's a frightening thing. Apart from that, he spends more than we r.an afford, and I am so worried I don't know where to turn. "My parents would take me and the boy in, but I keep on hoping that if I stay, my husband will behave himself. Perhaps I only hate to admit how hopeless I am; he never listens to any- thing I say, only resents it. Can you help me? SCARED MARY" 4' What you need is the pro- * tection of the law. Your hus. * band will not change because * your pleas and tears; it takes * a stronger will to handle him. * So tell him now that next e time he is so beastly, you will " have him arrested — and you * must mean it. He will shud- .* der at the idea and swear it * isn't necessary, but your threat * may shock him into sanity. If * it does not, go through with * it, for his sake as well as your * own, * Could you depend on him to * support you and the boy if * you left him? Practical angles * must be considered, and in * your case it would not be fair * to thrust the whole burden on 4' your parents. Perhaps a talk * with the Domestic Relations * Court is in order; the counsel- * ors there will advise you as to * the' advantages and disadvan- * tages of divorce and help you * all they can. Every girl wants to be popu- lar, and the first step is to make sure a new acquaintance is worth her time. It isn't the number of boys she dates, it is the kind she is seen with that counts. Anne. Hirst has helped teen- agers everywhere how to have the fun that lasts. Write her at Box 1, 123 Eighteenth St., New Toronto, Ont. tinues the ban on term loans, as well as its requirement, fully effective in May, 1956, that char- tered banks maintain second- line reserves of treasury bills and day-to-day loans sufficient, with existing statutory cash re- serves of 8 per cent, to establish a' 'liquidity ratio' of at least 15 per cent of deposit liabilities." WIDER POWERS NEEDED Despite the effective measures alteady taken, Mr. Muir felt that there were at least two sources of inflationary pressure which the Central Bank, with its Pres- ent PoWers, would find it difficult to reach (see .box). "It Would appear," concluded Mt. Muir, "that in order to be fair and" achieve the best results, our monetary and credit control may have to embrace a wicler•area of our financial world than it now does." The problems of Canada today, he said, were the natural problems of a growing ,ccientry and of an economy that has great potentialities for growth and, de- velopthent. chartered banks have co-oper- ated within the broad frame: work Of monetary policy to re-e duce to --almost negligible' 'pro- portions the net inflationary ef. feet of chartered bank opera- tions. "Consumer credit continues to expand, but consumer credit cli 7. rectly or indirectly financed by banks fell off significantly in 1956. For example, personal loans by chartered banks fell off during the second half `of the year, ,while similar loans by loan companies and credit unions continued in 1956 the rising trend established in 1955. Retail consumer credit by instalnient finance , companies rose . 'through 1956 to a new high, while char- tered ,benk, loans , to aestalment flriarice...companies, fell ,steadily during, second half 'of the year. "These favourdeile e6tilts, so far as chartered bank credit is conterned,, were due to a mope- , tary policy that kept the brakes on the , expanding money supply, thereby allowing market rates, of interest to rise with the increas- ed demand for funds. "Iri addition, to overall policy on money supply And money rates, the Bahk of Canada cob- The "depressed occupational status"" of Canadian teachers, in churches, schools 'ands Universi- ties, and the dangers 'posed by ,our apparent ,neglect of those re- spensible, for the, training and building 'of the moral character • 'of out yontli were emphasized by James Muir, Chairman and President of The Royal Bank Of Canada, in his address at the bank's annual meeting in Mont- real on Thursday, January 10th. "It is clear enough that the eco- nomic reso'urce's at the disposal of our schools and universities and even of many of our churches are insufficient to maintain ,de- cent living standards for the de- voted men and women whose life work it is to train the minds and develop the character of our young people," said Mr. Muir. "In this we are failing to make the fullest and wisest use of key human resources; we are failing to give them a reward consistent either with equity or incentive; and we are endangering there- fore the future welfare of our whole economy." CRISIS IN EDUCATION "The present economic posi- tion of the teaching profession is an anomaly. The economic posi- tion of all teachers has deterior- ated, relative to other professions of comparable training and re- sponsibility, and relative to the working force as a whole. Thus the teacher today finds himself in the same occupational "de- pressed area" which he occupied as long ego as 1776. With the present disparity between the salaries-we pay our teachers, and the salaries we pay for compar- able talent elsewhere, we can- not expect to recruit or to retain enough qualified men ,and wo- men to maintain our present teaching standards in our schools and universities. "Here then is a case where the allocation of our human resour- ces would seem to be unrespon- sive to the ordinary operation of the price mechanism. But this is • only partly true. In fact, the sup- ply of teachers is likely over a period of time to be only too responsive to the price mechan- ism; the market will work only ' too well and we shall lose much of what is best in our educa- tional practice through the spread of too small a staff over too many courses and students, and through the deterioration of the staff itself. "We as citizens must, through governm ent, business, or indivi- dual action ensure that our schools and universities are pio- vided with sources of funds suffi- cient to attract, to retain and to' replenish those human 'resources of talent, training and experi- ence that teaching requires." INFLATION STILL THREAT The continuing threat of infla- tionary pressure, some of them from new and unexpected quar- ters, was also emphasized by Mr. Muir, who expressed the view that it might be necessary' to enlarge the powers of the cen- tral bank if we were to keep under full control the forces which threatened the integrity of our money. "It is now nearly fourteen' menthe since the Bank of Cepa- da came to real grips with the problem," said Mr. Muir. "The battle is a stiff and continuing one, and victory has not yet 'been achieved. And in this bat- tle, unenlightened selfishness is,. perhaps, the. most dangerous 'misguided 'missile' combating those Who :Would confine tieriary fortes and preserve the integtity of: our Money. "The Bank of Canada and the ISSUE 4— 1957 Our intelligence agents have just unearthed news of the stin- giest man in town and it's too electrifying to , keep until next Christmas. He's the fellow who saves burned-out Christmas tree bulbs and lets his thildren peer through them on bright, sunny days to save,, expense of buying a string of bulbs which work. for red lights at a railway , etoS,, sings A Very long, freight train was pulling into the station, ad longthat when the fleet section was iii the station the, middle section bleated the crossing, And `there it stayed: The time was 12 o6 arid ernplOVeee Of ati, in, dustrial plant were on their way home Ole lundh, The line-up of cars got longer and longet and could iitagitie the driiierii, teething at, the 'wheel: The train eventually went on its way after nine or ten Minuted' but, fudging by. the Otprettiiiii fades, of :Most of the dri'ver's" MUst have seemed like half an tent, A ten Minute wait . ten MintiteS, out of, twenty-fOlit' houtScoUld it teally .haVelkiadi Veit much 'difference? member Of, their iletpective, fait, {11°W'ell.• that deridludot-the story Of 'etir' teettlatjtiet a quiet; 'family .af- lair, Now We' ate' Idoking .for' ward to a VisiOrdiri ledri ari nephew, Klenii froth Oshawa, After that it will be back to hernial living again—ae least I hope it wilt be normal ,living. . f.would like to think the tern= iiie,of lift will be a little tlOWeri a little ,quietcr in the New' Year than it Wad,' befeit But I ',;Suppose= that it, ,O futile tope, But yet, we Eire sometimes compelled to Ski* up' whether hC Want to. or riot. I saw an *Mee of this yesterday,. Driving: 'het& front town I had to stop , bickering, rib petty jealousies, no one thinking he or she was leOe favoured than someone else: And what a difference ,that, makes.;. Unfortunately there are faiiiiiiee! where etteh,e happy' relatienghlik does not exist, A case In point one ten will not visit his patehte if the ethet Oen ie there because the twa Vitire are net, on soak, ing terms, Can you imagine' More unpleasant situation for the in-Other and father "who, to Make Matters Worse, live in, terriovvhat isolated .part of On. tali°, An occasional trig, it, tit, givable but a long 'term faintly' fetid is, to nip' way of thinking,. abseitaely stupid, selfish and ttripardbriable, it triaket everye One' thisdrable. not only the oar, tics chiefly &Met:tiled but every SOPHISTICATES — Now residents of what is reputed to be the world's most Sophisticated city, Mama and Papa Llama, who' hail from Peru, introduce their new daughter to visitors at thei Viritentiei too, Paris, Ffafite. Now I can tell the whole story —I mean the story of Christmas at Ginger Farm. I couldn't be- fore because as you may know this column has to be written well ahead of time to be ready for the Christmas and New Year's papers. So now we'll travel backwards in time for the little odds and ends of domestic upheavals that happened — and some that didn't happen. The first upset was about two weeks before, Christmas when little Edward took the measles. He wasn't, particularly. sick — our main worry was David. Was he or wasn't he going to have meas- les for Christmas? You can be quite sure he was watched very carefully—but . . no measles. This is the. third time he has been exposed to infection with- out taking them so it looks as if he has built up some kind of, immunity. The next problem was our TV. I think I mentioned before it went out of kilter—sound but no picture—just when we were looking forward to the special programmes. Of course no one had time to fix it. Then Bob came along, worked on it two separate days and got it., going again without any new tubes Or parts. But he still doesn'teknew how Or why it works! - Then came the story..e5,, Vette stuffing. I was busy making ttled- turkey dressing; had thee:Onions' and celery frying in butter and almost done when a man came to the door—a Dutchman want- ing to know where another Dutchman lived. By the time I had managed to understand what he wanted and had given him directions—which I hope he tin- derstood—the onions and celery were burnt to a crisp. Worse still I had used my last onion! An- other trip to town; Mord -Onione and more celery to .thop and cook. Came Christmas Day . . , eryorie here and everyone happy —except me. I was sure the dressing would be uneatable and the pudding a failure! But do you ktieet they were both Ord-. elitatly good. So Yeti see I toO, worry about the thirigs, that never happen, After dirinet the. Cletietniee Tredahci* no one enjoyed it more than eeVeheiiiiiiiths' old EdWatd., He sat. on the floor among the wrappings and boxes, cooing and chuckling to hirn , self. David, tit WeS thtile led beyond measure.The gebeen- tins too. were very well pleased arid there. were frequent Nations Of "Oh, look—just what I wanted!" Partrier't present to Me caused a good deal Of aintate. Meat, It Wet a &Miser-bete* ftying,.pant Appatently he Wee tired of hearing complaints .about lily old aluminum frYirig. on 't'o which everything stock elbeer than '6• brother*: So that was one time when the squeak-1 ing wheel got Seine grease, Altogether it was a most en , joyable Chtiatinea f 'particularly as the Weather' Wee perfect fdt travellihe se we hid lib worries- about those on the hielievey, other thitier.-41ro was such a happy family Iselin; rid a--12 -14'- PRINTED PATTERN JIFFY-CUP Printed Pattern! This new paper pattern is all one piece; just pin to fabric, cut entire apron At bistel so easy and thrifty takes just ONE. yard 85-'inch fabric td make! The ideal coverup for kitchen chores: Printed Pattern 4885: Misses' Small (10-12); Medium (14-16), All given sizes: 1 yard 35-inch. Jiffs/=6a pattern is dearest to Cut and tow. All pattern parts are printed on ONE tissue piecei Send THIRTY-FIVE CE14fg, (Staren§ Cannot be accepted,, 'use postal tete for safety) for this pattern, Print Plainly SIZE, NAME,ADDRESS,STYLE, NUMBER. Send order to ANNE ADAMS, 123 Eighteenth Ste New' Trivet.' • ,3,11,1,