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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 3, 1974, Lethbridge, Alberta -THE LETHBRIDQE HERALD Thursday, Januarys, 1974 Ask Andy FEDERAL RESERVE Andy sends a complete 20- volume set of the Merit Students Encyclopedia to Kelvin Chapman, age 12, of Colonial Heights. Virginia, for his question: What is the function of the Federal Reserve System? A listener from another planet might conclude that the world's biggest headache is money. Almost everybody strives to get more than they have so there is never enough (o go around. Or so it seems. We may think we have money troubles nowadays. But the financial panics that occurred before the Federal Reserve System was established were downright disasters. Banks most likely began when people needed safe places to stash their savings and other valuables. Sooner or later bankers realized that these hordes of wealth could and should be multiplying. So they loaned out portions of their reserves to people who Wanted to buy property, start business and such. They paid a small interest to depositors and charged a somewhat larger rate to the borrowers. This was a fine, idea and everybody should, you would think, make a profit. But peo- ple tend to get very excited about money and in the 1800s the growing national economy got out of hand. There was frantic booms when business was good and desperate busts when business was bad. Dur- ing a good spell, when money seemed endless, many banks over-extended their loans. When a bad time arrived, often overnight, they had no reserves to repay their clamoring depositors. Many ordinary folk lost all of their savings and the nation's economy sunk deeper into the slump until some mysterious happening started an uptrend to the next boom. In 1913. the Federal Reserve System was set up to protect both the ordinary citizens and their- bankers and also, if possible, to rein in the up-and- down economy. Its functidhs as a sort of super-bank for all the government's business, at home and abroad, and also shelters a multitude of previously unrelated commer- cial banks under its wing. Booms and busts may come and go, but hard workjngpix- ies and paper boys who stash their savings in FRS member banks will not get wiped out overnight. The system is designed to guide all aspects of the economy, rather than restrict it with' ironclad regulations. All banks with branches in more than one state must be FRS members and most local banks are glad to belong. The FRS limits the amount of money a bank may loan. A certain percentage of its wealth must be held in reserve by the government. The FRS also sets certain interest rates and adjusts them to modify the ups and downs of the economy. When business is slack, it can lower reserve requirements. The banks then can loan money to more people to give business a boost. Of course, there is much more to the Federal Reserve System than we can crowd into a column. It is. without a doubt, the biggest and possibly the most sensible banking system in all history. To run its daily routine, the United States is divided into twelve Federal -Reserve Districts, each administered by a local Federal Reserve City. Questions asked by child- ren of Herald readers should be mailed to Ask Andy, P.O. Box 765, Huntington Beach, California 92648. (Copyright Chronicle Publishing Co. 1973) Pun with figures By J. A. H. HUNTER SHOTS H I T OR MISS TARGET Each letter stands for a differeht digit. Of course this will be true anyway, but what exactly do iiuiko ol the TAKGKT' Thanks for an idea to A. G. Bradbury. North Bay, On- tario. (Answer tomorrow) Goren on Bridge BY CHARLES H. GOREN TM CMCIW TNMM Both vulnerable. South deals. NORTH 0 A M 5 4Q83Z WEST EAST 47543 A K Q J 2 <7 M 83 084 OK7C2 A 10 975 SOUTH 4 A K Q 10 8 OQJ3 The bidding: Sooth West North East 1 2 <9 Pan pan 3 Pan 4 Pau Pass Past Opening lead: King of Which came first, the chicken or the egg? There is no real answer to questions like that But there is a logi- cal reason for deciding which suit to tackle first in today's hand. West's overcall relieved North of the responsibility to reply to his partner's open- ing bid. South showed his good hand and strong suit with a jump rtbid of three spades, and North felt that his ace, queen and spade honor, tho singleton, merited a raise to four spades. West attacked with the king of hearts, followed by the queen. Declarer ruffed and drew in four rounds, discarding two and club from dum- my. He could count six LTL Your horoscope lyJeaneOixon FRIDAY, JANUARY 4 Your birthday today: The Earth today makes its nearest approach to our local star, the Sun. but is tilted so that the southern hemisphere gets the extra warmth. Evening skies offer inspiring sights, weather permitting. Your life in the coming year centers more around the practical and the profitable. Activities which bring ready cash are preferred to those which serve art for its own sake, although these last are more valuable in the long future. Today's natives are visionary, skillful, and sometimes busybodies. ARIES (March 21 April Promotion, expansion of status comes about as natural- ly as they ever will if you make the effort. Moves to change the system don't seem to work very well. TAURUS (April May Your reputation attracts some additional upward boosts. Accept them for what they are, leaving open whatever options for further change may be possible. GEMINI (May 21 Jwe Initiative continues difficult to maintain, should be restricted to matters which offer immediate reward. Evening brings much conver- sation about very little sub- ject matter. CANCER (Jue 21 Jaly Your friends are still busy, hopefully with their own concerns. Collect all that is coming to you while the taking is good; level up all accounts wherever you can. LEO (Jifly 23 Aig. Be up early in order to get the jump on rivals. Finish early with time and energy left over tricks in trumps, and four in diamonds if the finesse for the king was successful. He looked no further. The queen of diamonds was led and run to East's king. A heart came back, ruffed by declarer with his last trump. Declarer took his three diamond tricks and then tried to set up his tenth trick in the club suit. West won the ace and took the last two tricks with high hearts for down one. Declarer was in too much of a hurry to go after the diamonds. Once his last trump was exhausted, his ef- forts should have been con- centrated in keeping West off lead, for East could have no more than three hearts. West had to have either the king of diamonds or the ace of clubs, or both, for his overcall. Since the king of diamonds could never be an entry, declarer should have eliminated the dangerous en- try first. Thus, after drawing trumps declarer should lead the king of clubs. West wins and returns a heart, declarer's last trump. Now, South can take the diamond finesse without worrying whether it wins or loses. If West has the king, the fi- nesse will succeed and de- clarer will make the rest of the tricks. If East has the king, the finesse will lose but it does declarer no harm- East can have no more hearts, and so he must re- turn either a diamond or a club, and declarer controls both those suits. for self-improvement. There's much to do and a great deal to learn. VIRGO (Aag. 23-Sept. Apply for your portion of group or family held resources. Exchanges converting intangibles into cash are favored wherever any opportunity offers. LIBRA (Sept. 8 Oct. An independent mood is nor- mal, along with some in- convenience in getting at your fair share of whatever is doing. See that it does not provoke you into any nasty remarks. SCORPIO (Oct. 23 Nov. So here you are'at the bot- tom of your monthly business cycle, nowhere to go but up. on mate, partner to attend to negotiations for the moment. SAGITTARIUS (Nov. 22 Dec. Today's impulse tempts you into overaction, too much of a good thing, un- less you really make the extra effort to contain your creative urge. CAPRICORN (Dec. 22 Jan. Your lifestyle, home con- ditions are susceptible to im- provement and expansion now. Add something extra to your savings while you are organizing matters. AQUARIUS (Jan. 21 Feb. Wear your honors and achievements proudly, but avoid any inclination to rest on past progress. Be willing to look and listen and learn! PISCES (Feb. 19 March You may have to defend what you do against criticism. Be as tactful as you know how, but go ahead with actions which represent your real con- victions. 1974, The Chicago Tribune Lawrence Lamb M.D. Dear Dr. Lamb You men- tioned in one of your columns certain types of memory exer- cises. I invite your attention to what some people believe to be a physical exercise to improve memory, the head- stand. Most writers on the subject of yoga, particularly Hatha yoga claim that the headstand practiced for a few minutes daily increases not only memory, but concentration. I feel that his has been the case for me. The theory is that while the body is upside down, the brain cells receive more oxygen because the blood passing through the brain is in- creased. Thus, the brain becomes a healthier organ and functions more com- pletely. Caution must be exer- cised initially, however. Dear Reader Thank you for trying to be helpful. I am aware of these ideas. I do not recommend headstands for older people with memory problems. I think they could be quite dangerous, and because of the popularity of yoga in some circles, I would like to warn older people with these problems to avoid this. As a matter of fact, I studied the effects of tilting normal, healthy people head down in conjunction with ex- periments to study problems we were afraid we might have with the astronauts in space flight. The astronauts describ- ed themselves as "purple astronauts" during the head down test. The head down position can stimulate some powerful reflexes from arteries in the neck. These can markedly slow the heart. This, in turn, decreases the amount of blood the heart is pumping. These powerful reflexes can slow the heart and allow irregular beats to take charge of the heart's function. Young, healthy people can do this easily, but I would be quite concerned about those people who have disease in the arteries to the brain doing such things. The other hazard in yoga for some people is the practice of breath holding. Deep breath holding can set off {regularities in the heart. It can also cause the heart to stop temporarily. Breath holding after deep breathing is particularly bad. I have seen the heart stopped longer than 12 seconds in a healthy subject with this maneuver. It's only natural to think that if you were overbreathing that hold- ing your breath would sim- ply reverse the effects, in studying healthy pilots. It used to be a common practice to have pilots who naturally overbreathed when exposed to low oxygen altitude to hold their breath. When we saw what happened and noted that this could cause fainting, the rules were changed, and we advised pilots to take slow and shallow breaths but not to hold their breath. You must not faint while flying jet aircraft. I'm sure I'll get a lot of hostile mail for these com- ments, but facts are facts. What can be tolerated by some is not necessarily good for the general public. Send your questions to Dr. Lamb, in care of this new- spaper, P.O. Box 1551, Radio City Station, New York, N.Y. ,10019. For a copy of Dr. Lamb's booklet on low blood sugar, send 50 cents to the same address and ask for "Blood Sugar" booklet. Watergate conspirator released LEWISBURG, Pa. (AP) E. Howard Hunt, conspirator in the Watergate political es- pionage scandal, was released from a federal prison farm to- day pending the outcome of an appeal filed in Washington. Hunt, 54, was sentenced Nov. 9 to serve 2V4 years in prison. He pleaded guilty last January to six counts of con- spiracy, burglary and wiretaping in connection with the break in June at the Democratic national head- quarters in the Watergate building. A federal appeal court in Washington ordered Friday that Hunt and second Watergate defendant, Ber- nard Barker of Miami, be released until the court acts on their appeals. 'DON'T FORSET THE PART ABOUT THE _ TO AN THE 1 SHORT RIBS by frank o'neal "5 VAAV- GOES WITH THE JOS tt AND LOIS by dik browM HEE-HEE.' THE LITTLE PROPPEP THE CAN ONcTHE BIG Bis) GARBAaBMAN THREW A TOMATO AT THE LITTLE GARBAGES j- A HERE COMES MR. THIRSTY HE HIT WITH IT'S ALL OVER THERE THEV GO POWN THE STREET ANP AROUNP THE CORNER. HERE COMES A POLICE EVERVTIME I <3ET TO LIKE A SHOW IT GETS CANCELLED BUGS BUNNY THIS IS A BIS JOB, ELMER, AN' I SOT A LOT O' CALLS T' MAKE 1 BUT THE LEAKING WATEE COULD FLOOP MY BASEMENT! CHOMP- S.VAP- WILL YOU STOP' STANDING. THERE; CHEWING ANP DO SOME- THINS? THAT WAP O'SUM HOLE? YA 'TIL I C'N BACK AN' MAKE PERMANENT BLONDIE by chic young 1U1M CORA ANID I HAD ANOTHER V_, SPAT THIS MORNING SHE WAS BRAGGING ABOUT HOW SHE'S KEPT HER FIGURE WHAT'D1- YOU SAY? I TOLD u HER SHE HAD TO KEEP IT- m NO ONE ELSE WOULD TAKE ARCHIE by .bob montana I SEE YOU HUNG A Sfm IN THE LOUN6I IT WAS A CLOSE VOTE BETWEEN ASH W AND INGTON LINCOLN FOR WHO WAS THE GREATEST _ MAN HAGAR THE HORRIBLE dik browne WHAT MAPe ME SAY WOULP You IF IT WEREN'T FOR BEETLE BAILEY by mort walker PO YOU HAVE TO BE SO ABOUT NOT I'LL BET COULDN'T SPREAD PEANUT GUTTER ON A WITHOUT CAU5IN6 A CATASTROPHE byalcapp TUMBLEWEEDS OPEN YORE MOUTH, THIS HAIN'T WARM AFFECTIONATE OLE HEMRV.7 ITS MEWEUV A CHEAP OH, I HAVE HERE THE RESULTS KNOW HOW MANY SCALPS 6UVS TOOK LAST ;