The Taylor Daily Press (Taylor, Tex.), Vol. 47, No. 29, Ed. 1 Friday, January 22, 1960 Page: 4 of 6
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pWplor Smip IpreSI
jiblished. in Taylor, Texas, since 1013 and serving a market area of
each Sunday and daily except Saturday.
Publishers — Taylor Newspapers, Inc.
News, Advertising and Circulation telephone EL.2-3621
he Associated Press is exclusively entitled to the use for reproduction of
|al news printed in this newspaper, as well as all AP dispatches. All
lication rights of special dispatches here are also reserved.
itered as second class mail matter at the Post Office at Taylor, Texas,
I the act of March 8, 1872.
py erroneous reflection upon the character, standing or reputation of
arson, firm or corporation, which may appear in the columns of The
Daily Press will gladly be corrected upon being brought to the atten-
|f the publisher.
^.TIONAL REPRESENTATIVES: Texas Daily Press League, Inc., Dallas,
New York City; Chicago, ill.; St. Louis, Mo.; Los Angeles, Calif.;
Trancisco, Calif.; Memphis, Tenn.; Detroit, Mich.; Denver, Colo.;
City.
Ike's Political Technique
Most Successful for Him
SUBSCRIPTION RATES
(irrier delivery in Taylor, Thrall, Thorndale, Rockdale, Granger, Bart-
lutto, Elgin, Coupland and Georgetown —» 30-cents per week,
ail rates in Williamson and adjoining counties not served by carrier,
|r month; $2.75 for 3 months; $5. for 6 months; $9. per year,
lil rates elsewhere: $1.35 per month, $16.20 per year.
Attend the Livestock Show
The youth of our area will exhibit their live-
>ck and poultry in the Fifth Annual Livestock
f.d Poultry Show and Sale Friday and Saturday.
This is am exciting time of the year for the
[ung people who have spent- a good deal of effort
fd money in raising stock for this show. The show
the Taylor Commission Company’s “mule barn”
Circleville will be worth everyone’s time to
tend. It will be an interesting and informative
lent.
A total of 366 animals and 14 pens of poultry
Jive been entered by Future Farmers of America
lembers. All are under 21 years of age.
What these young farmers have learned first
ind in the raising of livestock and poultry, will
invaluable to them and to us in the future. At
[at time, they could take their place in the agri-
ilture picture. For this reason, they deserve our
(pport and encouragement now.
The boys and many other civic minded people
Jive worked hard on the show. Through their ef-
|rts the Chamber of Commerce FFA Livestock and
lultry Show has gained a dominant role for being
He of the largest in this area of Texas.
<■ Buyers will be needed, too, for the sale Satur-
; afternoon. Help keep this area dominant in
julture. Attend the livestock show, and if you
Ible, play a part in the sale.
IRICHLAND, LA., BEACON-NEWS: “Whether
'realizes it or not, advertising is perhaps the
wonderful development of the modern com-
fial age. It is the maker or breaker of business,
little. It is the one factor of successful sales
is most apt to be overlooked by the merchants
isinessmen of small towns and cities.
^Advertising is . . . the power that will make
concerns grow into larger success. It is a
Ice that requires study and be it said, character,
[nnot succeed of it is based upon untruth; it
build upon faith and integrity.”
BIBLE VERSE
Revised Standard Version
Father knows me and I know the Father, and
[own my life for the sheep.” John 10:15
Confraternity Edition
Its the Father knows me and I know the Father,
fay down my life for the sheep.” John 10:15
Bible ... Can You Quote It?
By Lavina Ross Fowler
what animal, other than the sacrificial lamb, did
|ael pile its sins and turn into the desert?
Leviticus 16:8-10
lat lad with a sling-shot and five smooth stones,
^tured the kingdom of Saul?
1 Samuel 17:39-40 (King James),
v 1 Kings 17:39-40 (Douay)
le the daughter of King Ahab and Queen Jezebel.
2 Kings til (King James), 4 Kings 11 (Douay)
lat physician is credited with writing one of the
>spels and The Acts of The Apostles?
Colossians 4:14
lat woman, friend of Mary Magdalene and wife
[Herod’s steward, was among the first to reach
list’s sepulchre, the first Easter morn?
St. Luke 8:3, 24:10
correct - excellent. Three correct - good.
See answers in Bible,
byright 1960, by National Newspaper Syndicate)
College Days
Answer to Previous Puzzle
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By JAMES MARLOW
Associated Press News Analyst
WASHINGTON W — If you
don’t hear a bonk-bonk in the
White House — the sound of
banging headis together — it’s be-
cause President Eisenhower has a
different technique for getting
people to listen.
It was neither fresh nor new
when Vice President Richard M.
Nixon over the weekend described
Eisenhower as a persuader and
not a desk-thumper. That’s ex-
actly how Eisenhower described
himself a few years ago.
In some cases, of course, per
suasion can be as effective as a
velvet sandbag: It makes quite an
impression without leaving bruis-
es. And maybe that’s the key to
Eisenhower’s political success.
Now that he’s nearing the end
of his second term there will be
Soviet Gains
Will Reflect
On Future
By SAM DAWSON
AP Business News Analyst
NEW YORK ® — Soviet Pre
meir Nikita Khrushchev’s boasts
of great industrial gains in ithe
last 12 months are impressive
only in ‘the light of- the Soviet
Union’s avowed aim of giving the
United States a run for its mon-
ey sometime in the future.
The Soviet Union is still way
behind on almost every indus-
trial score except population on
which to draw. And even with
its announced plan of releasing
1,200,000 men from the military
forces to do factory and farming
work, it’s still a queStipn how
many of these have the skill that
modern industrial technology re-
quires.
The Soviet Premier’s recital of
great percentage gains in produc-
tion must be viewed in the light
of where the Soviet Union start-
ed and what he is comparing to-
day with. If you begin with very
little, as the Russians did after
the war, any gain looks good in
percentages. If you start from
fairly adequate industrial capa
city, as the United States did
after the war, percentage gains
are impressive because they re-
flect the growing needs of an ex-
panding economy. And in almost
every instance U.S. capacity is
equal to current tasks and is ex-
pandable for future ones.
Take steel as an example.
The Soviet Union says it in-
creased its production last year
by 5 million tons to turn out 65%
short tons. Even with a steel
strike of 116 days, American
Steel production increased eight
million tons last year to 93%
tons. It has the capacity to turn
out 147% tons this year, and
many steel men think demand
will call for 130 million tons.
Khrushchev’s touted mills can
scarcely challenge that.
He cites increased oil produc-
tion., It runs around 2% million
barrels a day. The United States
produced around seven million
barrels a day, and the flow was
Strictly held in check to tailor
it to actual demand. Its capacity
was about three times that
amount, when and if needed.
The Soviet Union says its na-
tional income went up eight per
cent in 1959. Ours gained by
about 6% per cent. The So-
viet national income is put at
1% trillion rubles. The ruble at
the Soviet-fixed rate is worth 25
cents. In exchange circles 10
cents is considered a more real-
istic figure.
That puts Soviet national in-
come at 125 billion dollars, while
ours is more than 404 billion dol-
lars. Or, if the Russians mean
by national income what we call
gross national product — the
total falue of all goods and ser-
vices—often ours is 485 billion
dollars.
All along the line it’s hard to
tell just what the Soviet Union
includes in its figures, and just
what it compares them with.
And always there is the prob-
lem of starting with scarcity and
straining to build up to ade-
quacy, while we start with ade-
quacy and build up to even
higher standards of living or to
meet increased needs of a grow-
ing population.
But the challenge is definite-
ly there.
-0-
Gl From Bartlett
Slated for Exercise
AUGSBURG, Germany— Army
PFC Charles E. Rafay, 24, son
of Mr. and Mrs. Johnnie Rafay,
Route 1, Bartlett, Tex., is sch-
eduled to participate with other
personnel from the 24th Infan-
try Division in Exercise Winter
Shield at the Grafenwohr-Hohen-
fels training area in southern
Germany Feb. 1-7.
Rafay is a rifleman in Com-
pany C of the division’s 28th In-
fantry. He entered the Army in
June 1958 and arrived overseas
the following December.
Rafay is a 1953 graduate oi
Bartlett High School.
increasing appraisals of his pres-
idency and leadership. But per-
haps the most amazing and fas-
cinating side of him is the political
one.
How did this man —-who spent
his life in the Army and had no
practical political experience in
the usual sense—become one of
the most successful politicians in
American history?
He was overwhelmingly elected
in 1952 and 1955 by the same
voters who made a critical dis-
tinction between him and his Re-
publican party by repundating the
Republicans in 1954-56-58 and giv-
ing the Democrats control of Con-
gress each time.
Eisenhower more than met this
most elementary test of a suc-
cessful politician: A man who
retains sufficient popularity with
the voters to keep his job by be-
ing re-elected. Polls show he is
now close to the peak of his pop-
ularity.
If you have any doubts about
him as a politician, just ask
self this:
If he could ran again in 1960
for a third term — he can’t, be-
cause the Constitution now limits
any President two terms r— do
you think any Democrat in sight
would have a chance against him?
There will be, and already are,
a lot of explanations tor his poli-
tical popularity. Some go like
this:
Americans see in him a father-
image; they see in him virtues
they admire most and want in
their leaders: Calmness under
stress, courage, good will,
warmth, friendliness, unpreten-
tiousness, and the common touch
in the way he talks.
Whatever history says the ex-
planation is, at least he is a new
kind of politician in modern
times: He doesn’t denounce his
political foes in personal terms
and he doesn’t make national is-
sues personal issues.
By avoiding emotionalism and
extreme partisanship he has also
avoided dividing the country into
factions where he is concerned.
Meaning: People don’t have vio-
lent feelings toward him or a-
gainst him, as they did, for in-
stance, toward President Truman
Who spent his life in politics and
barely got elected President once.
To put it another way: Eisen-
hower has managed to give the
impression of a man who stand's
above parties and politics and is
concerned entirely with the nation-
al good.
For a man in politics to man-
age not to look like a politician is
quite an achievement. But it may
be the most successful way to .be
a politician. Is it an accident?
It doesn’t seem to be. Rather,
it seems a product of the way
Eisenhower has lived his life in
dealing with people.
Right or wrong, the method
seems to have worked for him.
-0-
Happy Birthday
Greetings oi “Happy Birthday”
are being extended to the follow-
ing birthday celebrants:
Mrs. Robert Eulenfeld, Leon
Slagle, Mrs. A. Pieper, Richard
Henry Priesmeyer, Mrs. Joyce
Scruggs and Sandra Taylor.
(Editor’s Note — “Happy Birth-
day” must be received In The
Press office the day before pub-
lication at the latest.. 1
Why Grow Old?
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IT OCCURS TO ME
ATHLETIC BUDGET
COMING ALONG FINE
By LIN MILLS
Taylor Press News Editor
•?v,A
/’
fait
Will It
Hold?
* The
Washington
By DREW
Merry-Go-Rc
PEARSON
>und *
WASHINGTON — It isn’it often
that ithe public gets a chance to
see how the big backstage lob-
byists operate in Washington.
Especially it isn’t often ‘that
they get a chance to see how the
liquor lobby operates, and read
its private correspondence.
However, letters marked
“CONFIDENTIAL”—“Please de-
stroy this note immediately after
you have digested its contents,”
have now come into Ithe possess-
ion of this writer. They cast re-
vealing light on the manner in
which big money is placed on
certain candidates in election
campaigns to influence their vote
after election.
This is one reason why Con-
gress is now debating a clean
election law.
Clint Hester, lobbyist for the
U.S. Brewers Foundations, has
been one of the most interesting
backstage money-raisers and
letterwriters. He pulls a lot ot
weight around the' halls of Con-
gress, partly by contributing ito
elections, partly by entering the
office Staffs of congressmen at
his palatial Virginia estate,
“Bath Alum,” near Hot Springs.
Every summer, congressional
staffs take a weekend jaunt to
Hester’s estate with meals,
rooms, plenty of liquor, and a
Saturday night dance, all for
the giveaway price of five bucks.
Wool Lobbyist Also
Hester not only lobbies for ithe
brewers but for the National
Growers of Holt House Vege-
tables and various wool organi-
zations. In 1947, when Congress
passed its very controversial
tariff on wool, Hester operated
backstage to pass ithe bill even
though not registered as a lob-
byist.
This column reported, May 29,
1947: “Hester had his brother
Ewart registered as a lobbyist at
a salary of only $5,000. But in
wool circles it is reported that
C. M. Hester receives $18,000
from the wool traders. Three
congressmen admitted that Hes-
ter lobbied with them on behalf
of the wool bill, yet let him get
away with ignoring ithe lobbying
law.”
Since then, Hester has been
more careful. He has registered
as lobbyist for ithe Boston Wool
Trade Ass’n., ithe National Wool
Trade Ass’n., and the Philadel-
phia Wool and Textile Ass’n.
As lobbyist for the U.S. Brew-
ers Foundation, Hester wrote
several highly interesting let-
ters to Los Angeles beer baron
Frank Vitale, head of the Bo-
hemian Distributing Co., who
was indicted during prohibition
days in the biggest bootleg con-
spiracy on the west coast. One
letter, marked “Confidential,”
Aug. 8, 1952, contains revealing
advice on how the liquor lobby
contributes election money so
“it will help you and your com-
pany and also help ithe indus-
try.” To contribute through na-
tional channels, Hester advised,
was “just pouring your money
down a sewer.”
Please Destroy
Here is the advice he gave
to beer baron Frank Vitale in
Los Angeles:
“Dear Frank:
“I am now out working for
both Democrats and Republi-
cans, the emphasis on the Dem-
ocrats, who have done so much
for us, although without he help
of the few Republican friends
in the House and Senate we
would have found ourselves in a
You Can Reduce HipMeasurement
By JOSEPHINE LOWMAN
This week I am giving you two
of my favorite exercises for
each of the most usual figure
faults. I have found that the
abdominal and waist measure-
ments respond to specialized ex-
ercises more readily than the
hip measurement. However if a
large hipline is your problem, do
not despair! It just takes a lit-
tle longer.
For the lower hipline the fol-
lowing is an extremely effective
exercise. Sit on the floor with
your legs straight. Place' your
hands on the floor at your sides
and a little back. Now lean on
your hands as you lift both legs
up until your body weight falls
over 'the largest part of your
hips. Lift the left hand from the
floor and roll onto your right hip,
catching yourself with BOTH
hands. Now roll onto ithe left hip,
catching yourself with both
hands.
The manner in which you do
this exercise is most important.
It is often executed in a smooth
way which does little good. Two
hands are better than one be-
cause you can give yourself a
better pushoff for the roll onto
the other side. Your legs must
remain straight throughout the
exercise. Your feet should re-
main over the same spot on the
floor. Lift your legs and turn
your feet in the direction of the
roll but do not swing your legs
from side to side. This gives the
exercise a choppy motion.
For the upper hips. Lie on the
floor with your legs straight and
your arms resting on the floor,
extending straight out from each
side. Bend both knees up close
to your abdomen. Keep the
knees in this position as you roll
from side to side.
, If you missed my 8-Week Self-
Improvement Marathon and
would like to join, send 10 cents
and a stamped, self-addressed
envelope with your request for
the Marathon booklet. If you
would like to have my exercise
routine for hip-slimming send a
stamped, self-addressed envelope
with your request for leaflet No.
3. Address Josephine Lowman
in care of this newspaper.
(Released by The Register and
Tribune Syndicate, 1960)
■V
......... . . ■
SERIOUS CANDIDATE
• WASHINGTON m - Sen. Wayne
Morse (D-Ore) says he’s a seri-
ous candidate for the Demo-
cratic presidential nomination.
v\v>
For the lower tjipline the following is an extremely effective exercise. From a
sitting position, roll from one hip to the other, catching yourself with both
hands as you roll from left to right. 4
very difficult situation on any
number of occasions.
“I recall your telling me that
at Louis Johnson’s request in
1948 you raised $5,000.00 in Cali-
fornia. As I told you, to me, that
was just pouring your money
down a sewer. The chairman of
the National Committee or the
National Finance Committee is
here today and gone tomorrow,
so I have found from exper-
ience that the best way ito do is
to work 'through the Democratic
Senatorial Campaign Cbmmit-
tee, the secretary-treasurer of
which is Les Biffle. He has been
here in a congressional capacity
since 1906 and will be here as
long as he lives. Next to the
President he is ithe most influ-
ential man politically in the
United States.
“I was wondering if you would
undertake to raise from Demo-
cratic members of our industry
in California $5,000.00 for this
committee, either in checks or
cash, then you bring it here your-
self and I will go with you to
deliver to these gentlemen and
we will have lunch with them
and you will get an opportunity
to get well acquainted with them.
I can assure you they will be
your friends forever. This will
help you and your company per-
sonally and also help the in-
dustry tremendously.
“Without similar help it would
be very difficult for me here.
Indeed without the very subs-
tantial help of Rudie Schaefer,
Carl' Badenhausen, Phil Lieb-
man and Fred Lindee, I would
be up against it.
“There is no immediate rush
about this matter so think it
over and give ma a ring.
“I am thinking aboot asking
a Repoblican member of the in-
tusitry ito raise among the Re-
poblican members of the in-
tustry in your state a much less-
er sum to be contributed to some
of our Republican friends here.
“Please destroy this note im-
mediately after you have digest-
ed its contents.
“Best regards,
(signed) Clint C. M.H.:
Note—In the 1948 election in
Which President Truman pulled
a surprise victory over Gover-
nor Dewey of New York, Louis
Johnson was chief money-raiser
for ithe Democrats. In gratitude,
Truman later appointed him sec-
retary of defense, which is an-
other illustration of how big
contributions mold American
history. Johnson was the secre-
tary of defense who announced
in the spring of 1950 that Ameri-
ca’s armed forces would be
ready to move at 4 a.m., but
found on June 25, 1950, that they
were totally unprepared to defend
Korea at 5 a.m.
Boost For Boggs
A small private luncheon group
last week took steps to make
sure Congressman Hale Boggs
of Louisiana succeeds Speaker
Sam Rayburn as the most tele-
vised politico of the Democratic
National Convention—permanent
'chairman.
Those at the luncheon included
Leslie Biffle of Arkansas, form-
er secretary of the state; Char-
les Murphy, former counsel to
Harry Truman; Sen. Clair En-
gle of California; Bob Oliver of
the AFL-CIO; former OPA boss
Paul Porter; Ed Foley, presi-
dent of the Democratic 750 Club,
with Congressman Frank Ikard
of Texas and Stewart Udall of
| Arizona.
Also present was Boggs him-
fself, and several speakers ex-
pressed the view that if Boggs,
a Catholic, were passed over as
permanent chairman it might be
: Interpreted as a slap at both
Catholics and southern Demo-
crats.
Presiding at (the luncheon was
another Louisiana!!, Gillis Long,
OUR TAYLOR HIGH school
athletic budget is coming
along very well this year—it’s
Still in ithe black.
There was a balance of $457
in the budget as of Jan. 1, ac-
cording to the latest report
from Supt. T. H. Johnson.
Actual income from all
sources from the time school
started until the end of the
year amounted ito $16,649.69,
which is $3,967.69 more than
the anticipated income of $12,-
682 (thanks largely to post sea-
son football games).
Expenditures, however, have
just kept pace with income, a
total of $16,191.94 having been
spent during that same period,
leaving the $457 balance.
Football produced most of
the income, of course. Grid
income amounted to $15,525.
And most of the expenditures
were in the football depart-
ment. The school system has
spent $13,350 on the football
program, including $4,130 for
equipment, $2,085 for operation
and maintenance, and $5,304
for contracts (money ithat goes
to other teams we played).
The officials cost us almost
$1,000.
Basketball is providing some
income now and track and
baseball will later. But these
two sports will also require
some expenditures. So, even
though we’re having an unus-
ually good year, it doesn’t look
like the overall athletic pro-
gram will quite break even.
But it is coming mighty close
to paying its own way, which
is something it hasn’t done for
a good many years.
YOU USUALLY associate
John Smith with kilowatt
hours, but now the Rotary
Club is “measuring him” in
revolutions per minute.
The club bulletin said this
week: “We point with pride to
the election of Rotarian John
W. Smith to the presidency of
our Chamber of Commerce.
We’re in high rpm’s now!”
FROM THE SAME publica-
tion come these two bits of
(?) humor:
“Then there was the Texan
whose sports cars weren’t air
conditioned, but he always
kept a couple cold in the re-
frigerator.”
“Marriage is just another
union that defies manage-
ment.”
YOU READ RECENTLY that
The Taylor School lunchroom
program has shown a total
gain so far this year of $1,-
349.87.
Further details show four of
five lunchrooms in ithe black,
the other in the red. Price re-
corded a red figure of $163.21,
while West End showed a gain
of $19.09, Norithside $286, Twelf-
th Street $766.75, and Taylor
High School $440.56.
It’s hard to judge how the
total year will come out on the
basis of what’s happened in
less than half of a school
year. There are a good many
expenses coming up and quite
a cut in federal surplus foods
compared to what’s been re-
ceived so far, so it might not
be very wise to assume that
the school year will end up
with a pyramiding balance like
it has now . . .
a Washington attorney, who
pointed out that recent news ac-
counts had separately predicted
that Boggs’ selection would be a
“break” for three Democratic
White House hopefuls—Lyndon
Johnson, Jack Kennedy and
Stuart Symington.
“If you divide that by three,”
said Long, “you can readily see
how completely neutral Hale
will be as permanent chairman
of the convention.”
10 And 20
Years
10 YEARS AGO
Taylorites look to active year
in politics; poll tax necessary.
James Dellinger named direc-
tor of Corpus Chrisiti Ass’n.
James Roy Gill of Round Rock
dies Friday.
County Farm Bureau mem-
bership to be launched Monday.
League of Women Voters to
entertain national officer, Miss
Irene Sweeny, alt Wednesday
luncheon.
Miss Lena Luckey is 94 years
old.
Building for last year tops
$400,000.
Julia Ligbtner reigns as queen
of SPJST Mardi Gras.
Ducks down Belton 36-34.
20 YEARS AGO
Leap year affair alters cus-
toms for youths at dance held
in Country Club.
Ollie Clark entertains football
boys with dinner at his home.
Roosevelt enters final year of
second term.
J. A. Powitzky heads Bartlett
Chamber of Commerce.
Be-ttye Davis, Spencer Tracy
head movie list.
Plans being made to hold
Olympic games in US.
The PRAYER
For Today From
The UPPER ROOM
Thou shalt be his witness
unto all men of what thou
hast seen and heard.
(Acts 22:15).
PRAYER: O God, I desire a
personal mission for Thee. Di-
rect my thoughts in ithe quiet
of these moments to what I
can do for Thee today. Help
me to serve willingly and
gladly, in my home, in my
work. Help me to do it ithe
best I can; in the name of
Him who taught us to pray,
“Our Father who art in heav-
en .. . Amen.”
-k WASHINGTON COLUMN ★
Economist Sticks Neck Out
With Production Projections
BY PETER EDSON
NEA Washington Correspondent
WASHINGTON—(NEA)—An attempt to project industrial pro-
duction trends for the next five years has been made here by
economist Louis H. Bean. Presented to the House of Representa-
tives Democratic Study Group, it attracted much attention.
Prophecies that 1960 will be a boom year are dime-a-dozen now.
The few voices of warning that a stock market adjustment is due
are in general drowned out by shouts of glee over the steel strike
settlement.
IT THEREFORE TAKES a really courageous economist to stick
his neck out and predict bad times may be ahead.
What the Bean projections indicate are possibilities for another
recession beginning at the end of 1961 and continuing through 1962.
After that there would be another boom, reaching a new peak at
the end of 1964.
This projection is of general interest now as background for
studying the influence of business conditions on possible political
developments from 1960 to 1965.
Mr. Bean has attained considerable fame in the field of political
prophecy, which he took up as a hobby while serving as depart-
ment of agriculture and budget bureau economist in the Roosevelt
and Truman administrations.
He admits at the outset that long-range economic prediction is
risky business. It must be based on certain assumptions which
could be wrong. Bean’s principal assumption is that there will be
about the same degree of wisdom and success in keeping the gov-
ernment stable for the next five years that tigs been exercised
in the last 15 years.
Bean models his analysis on this experience, using the Federal
Reserve Board’s index of industrial production as the basis for
what he calls a “plausible projection.”
WHAT HIS CURVE REVEALS, as shown on his chart, is that
there have been industrial production peaks of varying duration
in 1948, 1951, 1953, 1956, 1957 and now 1960.
In between there were two recessions in the Truman adminis-
tration in 1949 and 1952. There have been two recessions in the
Eisenhower administration in 1954 and 1958.
These ups-and-downs of the industrial production index show
typical three-to-five-year-business cycles for inventory build-up
and capital expenditures.
But Mr. Bean hastens to point out that this does not mean there
Will necessarily have to be a recession in 1961-62, following the
1960 boom..
To avoid it, or to lighten its severity, it should only be neces-
sary to do a certain amount of dovetailing of economic policies
that was not done in previous periods of expansion and recession.
THE 1957-58 EXPERIENCE ILLUSTRATES THIS. The 1957
worry was over inflation. Business was expanding at a fast rate.
The only power the government had for checking it was through
monetary controls. Money was therefore made “tight,” regardless
of its impact on various sectors of the economy.
“If, at the time it seemed wise to use this authority to check
excesses, it had also been used to bolster those segments of the
economy that needed stimulus—such as housing—it is conceivable
that the sharp but temporary curtailment of industrial production
could have been avoided,” says Bean.
“If the government and business interests will do what is neces-
sary to avoid recession in 1962,” says the economist, “I would not
mind having my projection turn out to be wrong,”
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The Taylor Daily Press (Taylor, Tex.), Vol. 47, No. 29, Ed. 1 Friday, January 22, 1960, newspaper, January 22, 1960; Taylor, Texas. (https://texashistory.unt.edu/ark:/67531/metapth800935/m1/4/: accessed June 10, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Taylor Public Library.