anaheim-gazette 1947-02-20

DR. DUNN DISCUSSES 'CRISIS HERE' AT BUSINESS WOMEN'S BANQUET Due to illness, Dr. Arthur A. Coons, president of Occidental college, a native of Anaheim, and graduate of local schools, was unable to keep his engagement as speaker at the Elks club last Tuesday night at 7 o'clock under the sponsorship of the local Business and Professional Women. His representative was Dr. Cecil Dunn, head of Occidental's economics department, friend and former student of Dr. Coons. He discussed "The Crisis Here at Home." Dr. Coons had planned to speak on "The Crisis in China." Mrs. Olive Shoemaker, club president, opened the banquet program. Beulah Heinmann, program coordinator for the year, turned the meeting over to Maud Ford, international relations chairman, who in turn introduced the speaker, following the Spanish-chicken dinner. A witty and exuberant speaker, Dr. Dunn began by saying "This is clearly a case of, when you can't find a man, send a boy!", as he referred to his close relationship to Dr. Coons. In more serious vein he stated, "The increasing burden of citizenship should burn itself deep into the public consciousness. According to the Federal Reserve Board, inflation will run its course, a long run and persistent in its character, coming in the wake of war and more devastating that the period of conflict." Defining inflation, he said, "It is a period of rising prices. I have been rather harshly quoted for saying 'we will pay for war in two-bit dollars.'" The reasons he gave for inflation following war included the bracket who hold most of the liquid claims, or national debt securities. Foreseen, however, is a rise in prices of common stocks and a long upward trend in the prices of speculative real estate. "A measure of balance may be restored by the gradual withdrawal of money in liquid claims to private investment with an active play in the market, not the stock market, but in the operation of new enterprises to produce work and goods and therefore restore the 'norm.'" "It takes brains," he said, "more brains than most people have." The post war cycle down thru the ages includes readjustment, boom, depression and a secondary post war depression, both deep and prolonged. A severe one is expected this time, due to the severe dislocation. Britain, Germany and France, all older economies, have not withstood it. Free market (capitalism) are disappearing in Europe and here. The United States is better off, however, due to the great endowment of resources. He then drew a delicate parallel concerning the solution of, and possible ideas upon, the problem. It seems his favorite aunt and uncle live near Sacramento on a big ranch. During a visit there his aunt ran wildly about the yard, in dead of night, chasing some intruding "varmint" who was looking for a fowl dinner. She screamed to her husband to aid her. Dunn stuck his head out the window to watch. Finally he started for the household firearms to take a shot at it but then heard a roar from his "Daniel Boone" type uncle, who was sit- According to the Federal Reserve Board, inflation will run its course, a long run and persistent in its character, coming in the wake of war and more devastating that the period of conflict." Defining inflation, he said, "It is a period of rising prices. I have been rather harshly quoted for saying 'we will pay for war in two-bit dollars.'" The reasons he gave for inflation following war included the expanded volume of currency which undermines the national security, the heavy draw on bank loans and the higher level of government expenditure. Reaching far back in history, to the year 1259, he drew parallels showing a marked similarity in the economic aftermath of war. One pound sterling equalled one and three-fourths of an ounce of gold in the year 1389. Since then it has dropped to 12/100ths of an ounce of gold, which is the present basis for the pound sterling. "... this doesn't give promise of the 20 per cent cut in income tax now being considered." Before 1930 our national debt was $16,300,000,000, which rapidly rose to 41 billion dollars by January 1 of that year, with a total of 25 billion dollars spent during the depression following the first World War. In 1940 our national debt was 43 billion dollars, mounting up by the last estimate taken at the end of the fiscal year 1946 to a total of $269,-469,000,000. National security is roughly equivalent to the dollar itself. "According to the National Bureau of Economic Research the total public debt was only 8 and seven-tenths per cent of the national wealth in 1938, as compared with a public debt of 86 and nine-tenths percent for the fiscal year 1946, which is quite a mortgage on the old homestead," he remarked. "Goods pay for themselves in the long run," he continued. "The costs of making the product pretty well balances the income of the people, making costs equal values." Industry resumes after war the stream of goods and wealth and the exports too, but the mortgage is still hanging. There are lots of dollars and not many goods, therefore, price goes up resulting in inflation. The lack of free enterprise is found in the concentration of wealth by a few persons in the higher income It seems his favorite aunt and uncle live near Sacramento on a big ranch. During a visit there his aunt ran wildly about the yard, in dead of night, chasing some intruding "varmint" who was looking for a fowl dinner. She screamed to her husband to aid her. Dunn stuck his head out the window to watch. Finally he started for the household firearms to take a shot at it but then heard a roar from his "Daniel Boone" type uncle, who was sitting before the open window with a giant deer rifle across his boney knees. He was shouting something nearly undistinguishable. It was, "Drive it past the window!" "I hope I drove some idea across the window," said Dunn, then, "I think I better go home now." Proceeding the banquet, the salute to the flag was led by Florence Davis, a cordial welcome extended by Mrs. Shoemaker, and the collection given by Beulah Heinmann. Rev. Howard Congdon, pastor of the Presbyterian church recited the opening prayer. Highlights of the club's past year of activities presented by Mrs. Shoemaker included the dedication of a bench, plaque and cape chestnut tree in Anaheim City park last September in honor of service men and women who made the supreme sacrifice to their country. Another activity was staging of Exhibit Unique on December 1 at the Ebell club. She thanked Mrs. Harry Saulsberry, president of the Ebell club, for splendid cooperation and all service clubs, churches and press for their aid. Introduced with the Ebell officers were Honorable Mayor and Mrs. Charles A. Pearson. Entertainment for the evening, under the chairmanship of Warren Ashleigh, featured Mrs. Vera Jean Hilbers singing "In My Garden," "Dean Little Shoes" and a encore in artistic coloratura style. She was accompanied by Mrs. Virginia Burke. FULLERTON JAYSEE AWS PLANNING 'GIRL DATE' DANCE Now well underway are plans for the "Girl Date" dance to be held March 8 at Fullerton Junior college under the sponsorship of the Associated Women Students from 9 to 12 o'clock. Lois Sheets of Fullerton, AWS president, is heading the general dance committee. Dolores Hund, of this city, is a member of the planning group. The Anaheim Gazette since 1870 costs of making the product pretty well balances the income of the people, making costs equal values." Industry resumes after war the stream of goods and wealth and the exports too, but the mortgage is still hanging. There are lots of dollars and not many goods, therefore, price goes up resulting in inflation. The lack of free enterprise is found in the concentration of wealth by a few persons in the higher income Now well underway are plans for the "Girl Date" dance to be held March 8 at Fullerton Junior college under the sponsorship of the Associated Women Students from 9 to 12 o'clock. Lois Sheets of Fullerton, AWS president, is heading the general dance committee. Dolores Hund, of this city, is a member of the planning group. The Anaheim Gazette since 1870 ACME grows its own Hope FINE BEERS SINCE 1860 Brewed in Los Angeles by ACME BREWING CO H. R. BRINKERHOFF 308 East Third Street SANTA ANA, Calif. ANAHEIM GAZETTE Buy with Confidence FEBRUARY FURNITURE Limited New Arrivals Make Early S we've worked for many months to make this February ent possible. To a degree, our efforts have been rearded, and our manufacturers have cooperated spendly with us. But the fact remains, and we're frank to mit it, that good furniture is still hard to get, and we will not compromise on quality. It is also important to mention that we are "holding the line" on prices, and values are outstanding. We strongly urge you to we've worked for many months to make this February event possible. To a degree, our efforts have been rewarded, and our manufacturers have cooperated spendly with us. But the fact remains, and we're frank to admit it, that good furniture is still hard to get, and we will not compromise on quality. It is also important to mention that we are "holding the line" on prices, and values are outstanding. We strongly urge you to make your selections at once, as many suites are one-of-kind. This is One of the Many to Choose From with fabrics as scarce as they are, we are really proud to be able to offer these suites at any price. We're also proud of the quality of the materials that cover them, and the workmanship is up to our exacting specifications. Any of these suites will be "at home" anywhere . . . with your present accessories . . . with new ones . . . modern or traditional. Each piece is big, and luxuriously comfortable. Reg. $200.00 SALE PRICE $149.50 BE SURE TO SHOP FROM TO CHEC MO With Young mode this suave, si clean lines a used with a l ... interior co Dresser 4-Pie SALE Beautiful OCCASIONAL CHAIRS Many Styles and Colors to Choose from Priced from $17.95 We Have a Large Assortment of Shadow Box and Nic - Nac Shelves In Many Styles and Typ Priced from $4.25 FREE PARKING At Rear of Store Open Saturday Nights Until 9 P.M. 51 NORTH LOS ANGELES ST. SMITH-REAFSNYDEL FURNITURE CO. The Pioneer Store of Anaheim TELEPHONE 2409 Evidence in Our... JARY RE SALE! Early Selections Imperative! Choose From Reg. $200.00 SALE PRICE $149.50 OM TOP TO BOTTOM! CHECK THIS BARGAIN MODERN BED ROOM With A Smart New Look! Young moderns, and their modern mothers will admire this suave, simple style, that is impressive because of its clean lines and beautiful walnut veneers that have been used with a knowing hand. Full hardwood throughout ... interior construction dust proofed. Dresser, Chest and Twin Beds 4-Pieces SALE PRICE $24200 clean lines and beautiful walnut veneers that have been used with a knowing hand. Full hardwood throughout... interior construction dust proofed. Dresser, Chest and Twin Beds 4-Pieces SALE PRICE $24200 We Have a large Assortment of shadow Box and Nic - Nac Shelves Many Styles and Types Priced from $4.25 This Beautiful 5-Piece CHROME DINETTE SET With Plastic Heat Proof Top Regular Price $72.50 Sale Price ... $69.50 Others Priced as Low as $53.95 CONVENIENT CREDIT Terms To Suit You Small Down Payment FSNYDER URE CO. Store of Anaheim NE 2409 ANAHEIM, CALIF.