The Wingham Advance-Times, 1984-09-12, Page 21Nancy Travers was severely burned
last winter. She needed plasma, a
blood component.
She got that plasma
•BECAU S E PEOPLE
friends for life
BLOOD The Canadian Red Cross Society
GAVE
1
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01983 Ryan Game Company
01983 Copley News Service
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Ourfamilies
yourlfaVe�ilyU tt�erds
to
wo families coming together
with a common purpose is a
cause for celebration. The
merger of National Trust and
Victoria and Grey Trust is no
exception. As The National Victo-
ria and Grey Trust Company, we're
excited about the future. Both
yours and ours.
Mergers, however, raise new
questions. Here are some answers.
Will the service continue
uninterrupted?
Yes! It will be business as usual
with the same friendly faces
serving you.,,
Can I use my present account
number and cheques?
Yes, both will remain valid.
Will my savings remain secure?
Absolutely yes. We are one of
Canada's largest trust companies
and in "addition, we have Canada
Deposit Insurance coverage.
If you have further questions,
call or drop by a branch near you.
You'll find us working harder than
ever providing more of the service
you want. join us in celebrating
our re-newed commitment to you,
your family and your community.
THE,NATIDNAL.,
VICTORIA AMD GREY
TRUST COMPANY
Member' Canada. Deposit Insurance Corporation
d
Crossroads -Sept. 12, 1984—Page 7
Canada's
WHERE WE ARE
A revue of • econofnic his-
tory is necessary in order to
understand today's econ-
omic difficulities. Certain
trends should be noted for
specific examination.
If we are to comprehend
the changes that are under-
way, we must change our
focus from the ordinary
business cycle. Business
cycles are the temporary
fluctuations in economic ac-
tivity and primarily involve
accumulating inventory and
consumer debt and then
their progressive liqui-
dation.
On the other hand, long-
term trends are just that.
The current secular move-
ment started many years
ago, as far back as the mid -
1960's. Since then there has`
been a decline in investment
opportunities, slower pop-
ulation growth, and an enor-
mous rise in debt, in a pat-
tern similar to the 1920s and
1930s. Few new factories are
now being built and not
many are enlarging their ca-
pacity. The cheery pre=
dictions of chambers of com-
merce are not being fulfilled.
Capital investment is .lag-
ging because utilization
rates are low, so plant ca-
pacity is too big. High inters
est rates and heavy debt
loads are inhibiting capital
spending.
Lagging profitability, the
low return on investment, is
another consequenceof ex-
cess plant capacity. Pro-
' posed tax changes to en-
"" courage spending on plant
and equiprrient cannot do
. much to turn around the lag-
ging spending curve.
Likewise the upward trend
of unemployment has been
going on for almost two de-
cades and cannot be explain-
ed by something simple like
"Trudeau" or tight money.
Instead, high unemployment
arose from •a• longer trend
by Bruce Whitestone
sweeping upwarlt for the last
18 years. This followed stag-
nation in primary industries
along with major structural
changes in our economy, less
goods produced and more
emphasis on service in-
dustries. Also, agriculture
has been in a decline since
the early 1970s.
As well, high real interest
rates (interest rates minus
inflation) parallel events in
1929-1930. In both areas, they
were a result of too much
borrowing and, as a con-
sequence, a superabundance
of debt.
It is apparent, further, that
the problems are world-
wide. Rising unemployment,
excess plant capacity, high
interest rates, and huge
debts are not confined to any
one nation. These symptoms
of economic deterioration
have been going on relent-
lessly for nearly two de-
cades, in almost every
nation on earth.
What is underway here is
not just business cycle
ratcheting, but instead busi-
ness cycle trends superim-
posed on a longer term trend
generated by non -business
cycle causes. Something
more than the business cycle
is at work, and something
more than ordinary political
tinkering is involved.
Ignored is that fact that
debts are supposed to be re-
paid. Moreover, as debts
grow steadily larger by com-
parison with .the incomes
from which they have to be
repaid, the shortage of credit
worsens. With it, confidence
in the financial system
crumbles. Essentially, the
Same thing happened in the
late 1920s and early 1930s.
History does not turn
somersaults.. There is a rea-
son fOr the path it takes. The
reasons for our predicament
are deep-set, and the counter
measures so far proposed by
our • -political leaders have
little impact because they
fail to adjust to basic trends.
Policies to reduce the ex-
cessive debt burden and di-
minished liquidity, for, in-
stance, are needed before we
attempt to reduce interest
rates, encourage spending
on new plant and equipment,
and lower unemployment.
Until we realize where we
are and why we are there,
remedial policies will be only
futile gestures.
SHADOW MAN. The Life of
Dashiell Hammett,, By Rich-
ard Layman. Academic
Press Canada, Don Mills,
Ont. 312 pp. Paper $10.95.
Reviewed by
PERCY MADDUX
The five novels and many
short stories of Samuel
Dashiell Hammett (1894
-1961) had a great influence
on the development of the
detective story. Hammett
himself was for awhile a
Pinkerton detective.
In telling his life story in
"Shadow Man" Richard
Layman wastes no time in
speculation or . character
analysis but tells the 'facts
directly ayl without am-
biguity. HLA tells chiefly of
the writings of Hammett but
also includes, the personal
life as he goes along. This is
a very lucid biogrphy and
provides the reader with an
insight into the making of the
Hammett stories. •
TEMCUREEETS
X3J,t1OA
°RUMS
31119
to
as
14' National Museums • Musees nationaux
of Canada du Canada
Canada
ST4RG1ZING
Cygnus (The Swan), a large and
easily recognized cross shaped for-
mation, is one of the most beautiful
constellations in the summer sky. To
locate it, look first for Deneb, its
brightest star, Face south, hold the
map vertically with "southern horizon"
at the bottom, then raise it as you look
high overhead. Deneb Is almost at
the zenith at maptime in September,
and is the faintest of the three stars
defining the large and distinctive
Summer Triangle.
Although it takes little imagination to
picture a Swan in this configuration of
stars, it is easy to appreciate why it is
also called the Northern Cross. Both
Deneb, at the head of the Cross, and
Albireo, at the foot, are interesting
stars, but for differeht reasons.
Deneb, one of the greatestof the su-
pergiant stars, is about 60,000 times
as luminous as our Sun. At Denebb
distance of 1600 light years, the Sun
could be seen only with the aid of a
telescope. With one golden and one
blue component, Albireo is one of the
finest Double Stars for the small tele-
scope. It is thought to be a widely
separated binary system rather than
an accidental alignment of two stars.
They are separated by over 600 bil-
libn kilometers, or over 55 times the
diameter of the Solar System.
Embedded in the Milky Way, Cygnus
is a glorious field in binoculars — the
area between Sadr and Albireo is
SEPTEMBER
ate\ /*s
Coal Sack=, ry -...
00.-"Y' CYGNUS-..
'1 i Vega
i i /
DELPHINUS 3 i
i
• o SAGITTA
• ,
• a Alpha (Deneb)
p Beta (Albireo)
y Gamma (Sadr)
e Epsilon (Gienah)
s Delta
Altair*
considered one of the finest in the en-
tire sky. One o1 the famous Coal
Sacks (dark patches in the Milky Way
that appear devoid of stars because
intervening cosmic gas and dust
obscures theiaint glow of distant
stars) Is framed in a triangle formed
by Deneb, Gienah and Sadr.
Use the diagram to locate two tiny
jewel-like constellations. The five faint
stars outlining Delphinus (the Dol-
phin) lie outside the Summer Tri-
angle, between Deneb and Altair The
four faint stars of Sagitta (the Arrow)
trace a tiny arrow that Iles inside the
Triangle, between Albireo and Altair
Sweep both constellations with
binoculars.
d h (Universal Time)
2 07 Mars 1.7° S. of Moon
2 11 First Quarter. Moon
3 03 Mars 2° N. of Antares
4 05 Jupiter 3° N. of Moon
4 11 Mars 2° S. of Uranus
8 12 Mercury 1.6° S. of Regulus
10 07 FulOMoon. Harvest Moon
18 10 Last Quarter Moon
22 21 Autumnal equinox, autumn
begins
25 03 New Moon
27 22 Satum 0.9° N. of Moon
PLANETS: Jupiter, Mars and Satum
are low in the southwest and west at
sunset. Saturn is getting close to the
sun and by the end of the month will
be very low in the sky and hard to
see. Red Mars sets about three hours
after sunset; Jupiter, the brightest ob-
ject in the sky, about an hour later.
Watch the eastward movement of
Mars relative to the background stars
this month.
NATIONAL MUSEUM
science+
technology
1867 St. Laurent Blvd.
Ottawa K1A 0M8
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