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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 25, 1973, Lethbridge, Alberta Turner confident inflation easing By VICTOR MACKIE Herald Ottawa Bureau OTTAWA Finance Minister John Turner is confi- dent that the inflationary pressures in Canada will soon begin to fact they may have already started to subside, he suggested when he addressed the London Chamber of Commerce Wednesday He said "they may already have begun to subside" as the economies of the industry! nations are geared back to a more sustainable pace and the supply shortages of agricultural and industrial commodities are gradually overcome He again rejected any pro- posal for price and wage con- trols "So far this year the growth of the Canadian economy has been stronger than at any time since 1966 In the first six months, the most recent period for which comprehen- sive figures are available, real national output increased at an annual rate of 7 4 per cent over the same period last above our long term potential growth rate of around 5V4 per said the minister He said the substantial ex- pansion of the economy has led to a large increase in the personal income received by Canadians It has led to an in- crease in their spending on consumer goods and services and in the amount of their savings In the second quarter of this year they rose to a near-record level of 8V2 per cent The Canadian economy is now operating at or very close to the limits of its capacity as a result of the upsurge in growth over the past three years This was a goal Mr Turner said he had been anx took on the job of minister of finance He conceded that he has been confronted by two major problems unemployment and inflation He warned against "mis- guided solutions" being applied and clearly he rated the Progressive Conservative proposals for the imposition of controls as one of those "misguided solutions Such a program would compound rather than reduce the dif- Federal spending Que. issue RIVIERE DU LOUP, Que (CP) Premier Robert Bou- rassa said Wednesday that provincial government figures "demonstrate the undeniable profitability" of federalism for Quebec The premier released at a news conference government studies in response to Parti Quebecois claims that feder- alism is costly for Quebec Mr Bourassa said that in 1971-72 the federal govern ment spent million more in Quebec than it collected in taxes He emphasized that the fig- ures are not absolute and there is a possible margin of error The question has become a central issue in campaigning for the Oct 29 Quebec general election The three studies released by Mr Bourassa contain figures going back to 1964 DEATHS DECREASE VANCOUVER (CP) A po- lice crackdown on drinking drivers is credited with reduc- ing the traffic death rate in Vancouver to 44 in the first nine months of this year from 54 in the same period of 1972 Police statistics showed that officers picked up drink- ing drivers to the end of September compared with 334 in the first nine months of 1972 ficulties, he said Mr Turner said the in- flationary problem is caused by an international imbalance of supply and demands The only solution is to increase supply and he claimed that an increase in supply could not be encouraged by imposing con- trols Long ago, he said, the government drew up a plan for controlling prices and in- comes as a matter of con- tingency A that time he said the government was criticized by Opposition Leader Robert Stanfield for drafting such a plan WOULDN'T WORK Today, he observed the opposition leader is a zealous convert to controls He has advocated the imposition of a 90 day freeze on prices and in- comes following some form of continuing controls for a period of up to two years 'Notwithstanding the con- tingency planning of controls that the government itself un- dertook we repeatedly con- cluded from our assessment of the problem that in the cir- cumstances controls could not be effective for any meaningful period of time in holding back a world-wide in flationary tide 'On the contrary we con- cluded that they could in fact do far more harm than good by reducing the supply of goods and putting further upwards pressure on prices This applies with particular force to goods and industrial materials the maior source of global inflationary pressures which are the least amenable to price controls said Mr Turner He cited the experience of the United States There he said prices have been soaring upwards in the wake of the ill advised freeze temporarily re-imposed by the American government last June He said President Richard Nixon has acknowledged the adverse consequences and is now seek ing to dismantle U S controls as quickly as possible Bilateral trade pact announced Thursday, October THE BELGRADE (CP-AP) Canada and Yugoslavia signed their first bilateral trade agreement Wednesday, and Trade Minister Alastair Gillespie of Canada said the pact testifies to the excellent trade relations existing between the two countries LETHBRIDGE HERALD-11 After signing the agreement with Dr Emil Ludviger, Yugoslavia's foreign trade secretary Gillespie noted that Yugoslavia's exports to Canada have doubled in the last five years, with bilateral trade tripling in the last four years to million in 1972 BIGGER VALUES LOWER PRICES 1974 MOTOROLA Quasar COLOR TELEVISION Now at... FAIRFIELD'S TELEVISION AND APPLIANCE SALES featuring Solid state Chassis (except 4 tubes) Gone fishing William Ruckelshaus, who was fired as deputy attorney general by President Nixon, holds one of the blue fish he caught during a day of fishing on the Chesapeake Bay near Deale, Md Ruckelshaus was fired after he refused to fire Archibald Cox as Watergate special prosecutor Warden must be replaced r I diagonal Quasar COLOR PORTABLE TV Insta (viatic Color Tuning Motorola Matrix Bright Picture Tube Instant picture sound Model WP5502JW 19 diagonal Quasar COLOR Q ENSEMBLE TV Solid State chassis (except 4 tubes) Insta Matic Color Tuning Motorola Hi Focus Picture Tube Model WP541 Si ghtness Color Hue Automat c f ne Tun ng Color Intensity COLOR TUNING Just push one button and you automatically balance color intens ity l-ue contrast brightness and can eveT activate automa tic (me tun ng if al ready not in use It s that easy1 CALGARY (CP) The situation at the Calgary Correctional Institution is out of control and Warden James F Jackson must be replaced if there is to be a Seven years before the Ealliser sign went up, the first barrels of PalliserReserve CanadianWhisky were laid down. return to the rule ot law within the jail says city lawyer William Stilwell The present head of the in- stitution is not capable of turning back the pages of history to the situation of proper order which existed four or five years ago he said in an interview Tuesday Treat yourself to the SHARPEST, TRUEST COLOR available QUASAR by MOTOROLA Special Savings on 1973 Modols remaining In stock. I 25 MOTOROLA QUASAR II Console Color TV Reg 00 Now Only 26 TOP OF THE LINE 100% Solid State with remote (1 only) Reg NowOnly PLUG IN CIRCUIT MODULES Most chassis comoo nents are on replace able modules If a cir cu t needs to be re placed an exchange module can be plugged in by a service tech nician MATRIX BRIGHT PICTURE TUBE Crisp clean pictures with vivid color And in the Motorola Matrix Bright tube a jet black matrix surrounds each color dot FAIRFIELD TELEVISION AND APPLIANCE SALES 1242 3rd Ave. South Phone 328-0082 Just across from the Elks. Today there is a proud new name in Canadian rye whisky. Palliser. The new Palliser distillery in Alberta has brought together the skills and the talents of as fine a team of whisky- makers as Canada has ever assembled. Even though our distillery is new and modern, the product we sell is aged the full number of years. Our business began long before we opened our Lethbridge plant. It began with our bringing together the finest aged Canadian whiskies that go to make up Palliser Reserve, a smooth and satisfying seven-year-old. Each year since then we have also laid down for aeins: __ o c? Palliser Colony House Palliser Black Label Palliser Golden Special Look for them at all Alberta liquor stores. See how well we have started a new tradition of distilling excellence. TO THE I? r v P> It is waiting for you on November 2 at Anglemont Estates on beautiful Shuswap Lake, British Columbia. COME AND SEE FOR YOURSELF, CANADA'S FINEST RECREATION AND RETIREMENT AREA Anglemont Estates consists of a nine hole golf course, marina, community lodge, air strip, motel, ski area and most of all pollution free lake and air. rfee Show; f 1 L. f C i PALLISER RESERVE WES fLF.NEP ROC Refreshments will be served. Everyone Welcome Reserve Now For A Grand And Glorious Weekend PALLISER Palliser Distillers Limited, Lethbridge, Alberta Includes 2 nights in our modern motel, transportation, all meals and refresnments. dfld Feature "Fie Salmon Sn ;