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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 14, 1970
Page
4
The Nixon administration targets housewives with a consumer program emphasizing protecting buyers from unsafe products over price cuts. Virginia Knauer leads the effort, viewed as a diversionary move that may not curb inflation. Republicans argue it is pro consumer, while critics note rising prices remain the main concern for families and the economy.
A backstage lobby in Congress shields mutual fund operators from reform. Five million shareholders and pension funds pay excessive advisory fees, with 190 million dollars in 1969. The SEC pressed reforms but faced industry resistance led by ICA and fund sponsors.
Senate backed reforms but House hearings delayed to November 12. Augenblick’s late demand for a self regulation clause threatens the weak reforms as Budge scrambles November 11 to rewrite. Mutual fund leaders deny double crossing while critics note high fees and poor 1969 performance. Police corruption probe expands in Washington with officers cited in heroin cases and internal investigations.
Guest columnist David E. Gillespie writes about a lifelong smoking addiction. He recalls quit attempts, withdrawal, and the grip of cigarettes on his writing, family, and health prospects, including plans to quit after New Year’s Day.
The article argues the Department of Health Education and Welfare has become a vast national power, expanding from nothing sixteen years ago to an anticipated 1975 budget near one hundred billion in human resources. It warns of rising costs from social security, education, and potential Nixon plans while urging HEW to return revenues rather than only spend.
Nixon marks a year in office amid ongoing Vietnam and inflation challenges. Aides credit a low profile approach and the silent majority while critics fear polarization. Congress clashes over taxes and appointments as the President seeks to advance welfare, arms talks, and a plan to end domestic inequality.
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