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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 1, 1974, Lethbridge, Alberta 4 THE LETHBRIDQE HERALD Tuesday, Octobw 1, 1974 Ward system not practical The ward system for aldermanic elec- tions would not be good for Lethbridge. It has been suggested that North Lethbridge, which has roughly a third of the city's population, usually has been under represented on city council, and the ward system would correct that. In reply, it should be said first that there is no sound evidence that North Lethbridge has been abused or overlook- ed because it has not had many of its own residents on city council. Secondly, if there is a strong feeling of under representation in North Lethbridge, it could be corrected quickly by that part of the city nominating and electing good candidates. As a commun- ity it has not done that, yet it could. Thirdly, if North Lethbridge alone elected a third of the aldermen and South Lethbridge two thirds, that two thirds majority would have no electoral respon- sibility for North Lethbridge. All of the aldermen would put their own wards first, so in any division of interests, North Lethbridge would be outvoted. Under the present system all of the aldermen seek and get support from North Lethbridge and none can afford to turn his back on North Lethbridge. And finally this is one city, one com- munity, segmented physically by the railway tracks but united in needs, benefits and outlook. Even to use the terms North Lethbridge and South Lethbridge may be out of order. Performance is what counts Inflation is like alcohol. A little may in- duce a happy feeling, with a headache likely to follow. A steady diet is likely to lead to cirrhosis of the economy, and un- controlled it inevitably leads to self destruction. Canada is not as far along the road to self destruction as many important countries, Britain high among them, but she is in trouble. Monday's speech from the throne acknowledges the trouble and makes the expected pledge to try to bring inflation under control. But performance, not pledges, will count. It remains to be seen whether (a) the government will restrain its own urges to spend, and (b) whether the people will control their demands and expectations, and thus create the essen- tial setting for controlling inflation. Speeches from the throne usually aren't very communicative. This one was less so. But no matter. What follows, what is done by way of introducing legislation and how Parliament handles it is what matters. Cleaning house in India Cupidity manifests itself in many places but nowhere with greater threat to the stability of a nation than in India today. The spectre of mass starvation there is aggravated by the corruption that is undermining the economy of the country and making the plight of the poor continually worse. It is a scandal of ma- jor proportions. The racketeers in India deprive the country of an estimated million in foreign exchange annually. This loss of foreign exchange is an embarrassment to the government and a tragedy for the poor because it is needed for importing food, fertilizers and oil. Recently nine famous Indian smugglers were arrested, providing the first "real indication that Mrs. Indira Gandhi's government was prepared to do serious battle with corruption. Until now the war has been waged mostly in words without any visible effect on the ac- tivities of the racketeers. The minister of finance, Mr. K. R. Ganesh, forced the crack-down. He publicly charged that the corrupt group had become "a state within a state." He even named some of the individuals who were functioning illegally and enjoying protection in high places. This forced Mrs. Gandhi to do something to restore her failing popular image. Under her direction President Fakhruddin Ah gave constitutional as- sent to an ordinance which brought smugglers within the scope of emergency detention laws. The arrest of people under emergency detention laws makes democrats in most countries uneasy but such is the state of affairs in India that what has happened there has been widely hailed as the most hopeful political development for years. Uppermost in everyone's mind now is the question of whether Mrs. Gandhi will go on to really clean house when it could easily sweep out some of her own ministers. ERIC NICOL Believing in the Good Fairy I went to see my stock broker the other day. I found him sitting in bis office, completely swathed in cobwebs, his desk covered with drifts of dust and his executive sand-box sprouting cactus. I tore a blank cheque from my cheque-book, and the sound seemed to break the spell. My broker stirred fitfully, awakened and slowly brushed the nest of baby spiders from his ex- pensive suit. He mumbled: are for a bull market this fall. Bull, definitely." "What I asked, "to the market recovery that was supposed to follow the deletion of Richard Nixon? According to the press articles by market experts, the main thing stunting the growth of stocks and bonds was all that five o'clock shadow in the White House." "Buy low. sell high, lend me a quarter." wheezed my broker, gazing at the mouse droppings on his ticker-tape machine.. "Before Nixon, the excuse was that Canada had a minority government. The market was waiting, you said, tor a strong hand to steer the ship of state. Well, Pierre Trudeau has had both mitts on the helm for months. Dow and Jones are still drifting in the life raft, far astern." My stock broker picked up his sterling silver coffee server and poured himself a cup of dead moths. He said: 'According to our team of market analysts, there was never a better time to buy bargains in blue-chip securities." My broker's nose lengthened perceptibly. "Before the Liberal minority government blamed the war in Vietnam. 'Bring back the boys from southeast you said, 'and watch the stock market index soar to record heights." Excuses, excuses. Now what is the market waiting for the Good "How did you gaped my stock broker. "You mean, you actually have faith in the Good "It's supposed to be one of the best-kept secrets on Wall Street." he said. "Everybody on the floor of the New York Stock Exchange has been alerted to watch for a blonde broad with a wand that comes on strong sparkle- wise." "What is the basis of this belief in the power of the Good Fairy to get the market "Anyone that can change a pumpkin into a royal coach may be able to turn a lemon into a General Motors." "Which stocks do brokers expect the Good Fairy to "Aviation stocks should take off." said my broker, beginning to look more like his old self, which was none too good. "You can also look for foreign investment opportunities, in the Land of the Munchkins." "The "They sell short." giggled my broker, and I realized that the strain of waiting for his becalmed business to escape the doldrums had. as with the Ancient Mariner, affected his reason. "Let's face it." I said. "Investors may believe in the Good Fairy, but they no longer believe in the stock market as a means of beating inflation." cried my stock broker. "Everybody applaud! Tinkerbell is I left the poor wretch slumped over his blotter, his hands clapping weakJy over the hope of my taking a flutter. One thing you have to give The Crash oi '29 it was a quick drop to the street. He went berry-picking By Dong Walker One of the hazards of preaching is that chance references will send people ir. the pews off wool gathering so that they do not hear out the sermon. At McKillop United, Blake Anderson made- some comment about currant bashes