G Lancaster Farming. Saturday, June 27.1970
WASHINGTON REPORT
Congressman Edwin D. Esfilemaß
IM DUtrUft-fMiuytvMla Hi^Hi
;hc picdictions of the
piophot> of doom .me) gloom,
this Nation » economy icmains
bcMcallN >tiong The adnnlment
fiom a wai dominated and wai
onented economy to a pcace
oncnlcd economy has produced
seme imbalances Put lin a; the
1) akes on to cuib inflation has
caused some dilTiculties in the
financial community But while
Iheie me politicians hying to
make the woist of the-e few
economic facts, the big pictuie
lev cals that the economv is hold
ing up vei.v well
The economy is cimenth in a
Uansitional phase The fluctua
tions ot the stock nrnket. the
use in unemployment and the
■diop m coipoiate piofits aie le
(lections of a tiansiUon f’om an
o\ei heated econom\ to a mod
el ate and acceptable me of
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iy
WOLGEMUTH
BROS., Inc.
MOUNT JOY, PENNY
financial giowlh Inflation is be
ing tapeul off without the kind
of iccession that usuall.v follows
a spending spiee like that the
Nation went on in the Sixties
Like most tiansitions, this one
has its pei lods of rough going,
but the momentaiy hardships
can be undei stood once the de
sued lesults aie obtained In this
case, the lesult desned is an end
to skyiocketing puces
The important thing to tealize
is that the anti-inflation efforts
aie not banning the basic fabnc
of the economy. Although the
unemployment late is up. total
employment icached an all-time
high level in Match of this >eai
I' addition, today’s unemplov
ment figures compaie to the
aveiage rate of uncmplo'nent
pi ioi to the huge Vietnam build
up
The monc\ a\nlable to indi-
Ph 653-1451
viduals for spending after allow
ing for taxes and inflation
reached the highest rate in his
tory (luting the first quarter of
this year. This is anothc'i sign of
a basically sound financial pic
ture. Also, industiial ptoducllon
rales ha\e declined vety little
throughout this whole petiod of
what some people have called
economic ciisis.
The talk of economic crisis is
a good bit political In lealily.
fundamental economic stability
has been maintained Meanwhile,
we aie passing thiough the fust
phase of a potentially successful
campaign against inflation—the
phase in winch the late of infla
tion slows its use The second
phase will see the mte of infla
tion begin to di op At that point
piobably tow aid the end of this
year, I would picdict that some
of the piosent economic le-
will help assme that the
iccession picdicted b\the pio
phets of gloom will not occm
Opeiating the national econ
omy is such a complicated busi
ness that figmes me available to
piove neaih an\ones point And
dunna this election \e?i I would
imagine that nea’h an> figuies
that can be u.crl will be used
But the figuies aie not as impoi
tnnt as the icsults Conti oiling
the puces spual while sustaining
a healthy economic outlook is
the present goal Whethei the
goal is being leached depends
upon whose figuies jou listen to
Im peisonallj more optimistic
than the prophets of gloom be
cause I see a leal chance for
success
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June 30,1970.
Another CAN DO machine
from the CAN DO people.
Kinzer Equip. Co.
Kmzer
A. B. C. Groff. Inc. Graybill Machines, Inc.
New Holland Lititz, R D. 2
Society 11
Society of Farm Women 11
met at’ the Memorial United
Methodist Church. Quarryville.
Thursday afternoon for a cov
ered dish luncheon Members of
Society of F.um Women 18 weie
guests
Mis Fieda Huber. Society 11.
of Lancastci Council of Fatm
Women, was also a guest
Mis John M Hess, president
juioos r jo off iui|o ui srw
Landis Bros., Inc.
Lancaster
Longenecker
Farm Supply
Rheems i
together. Mrs. Esther Mus*
president of Society 11, c<
dueled a business meeting.
Mrs. Viola Warfel conduct*
devotions. Speaker for the pt
gram was Mis. George Albe:
Mount Joy. who discussi
“Heibs Used in Bible Times”
Plans were completed for tl
July 30 meeting to be held
Willow Valley at 12:30 p.m
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Hickory Kill, Pa.
Roy H. Buch, Ine.
Ephrata, R.D. #B
A. L. Herr & Bro.
Quarryville
id
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