South Belt Leader (Houston, Tex.), Vol. 4, No. 19, Ed. 1 Wednesday, June 13, 1979 Page: 2 of 12
twelve pages : ill. ; page 24 x 16 in. Digitized from 35 mm. microfilm.View a full description of this newspaper.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
Pag. 2, SOUTH BELT LEADER, Wednesday, Jm 13. 1979
•ovti but T aElrrvTTE1T>Q
madm >jJEj JL jl UlIO
S/ie wants a tax break
Editor, Seeth Balt Lead erf
Oh, my go*h! Did my eye*
deceive me, or did 1 *ee that "Put
Big Government On A Diet" Doctor
Ron Paul voted AGAINST balanc-
ing the federal budget by eliminat-
ing the authority of the DOD and
DOE bureaucracies to spend $22.4
billion left over from previous
years and not yet obligated?
Apparently. thcj0OCTOR S com-
mittment to voting against vir-
tually everything is greater than
his committment to balancing the
budget.
1 understand that t h e House-
passed budget includes a deficit of
$20.8 billion. According to my
calculations, if DOCTOR Ron Paul
and a few others had stuck to his
prescription to "balance the bud-
get-RIGHT NOW” we could have
had a $1.6 billion surplus this year,
and perhaps a break for us poor
taxpayers.
Sharon Johnson
Sharing good news
Editor, Sooth Belt Leaden
Terry and 1 just moved from
Sagemeadow on May 13, and had
some news we would like to have in
the South Belt Leader.
On Friday. May 11, we adopted a
two week old girl. Kimberly Jo
Anne Paradeis.
She weighed 7 pounds, 3 ounces at
birth and was born April 27, 1979.
She is our first child.
Then we left Sagemeadow Satur-
day evening. May 12. and left
Houston Sunday morning for Cen-
tral Minnesota, where Terry is
helping his father on a dairy farm.
Kim berly was very good on the long
drive up to Minnesota. Thank you!
Dottie Paradeis
The South Belt Leader would like to hear from
its readers. We request that all letters be signed.
Thank you,
the Editor
i
Many otherwise sensible consum-
ers. who would never dream of
tossing money out the window, do
just that every year when they fall
prey to the lure of making a lot of
money with little or no effort.
It's just that promise of easy
money that attracts people into
participating in chain letter
schemes that require them to send
a certain amount of cash, a savings
bond, money order, check, or other
Item of value to people they may
never have met.
Our Consumer Protection and
Antitrust Division attorneys have
received calls and inquiries about a
new chain letter scheme that re-
quires a $100 investment from each
individual participating, but prom-
ises an im mediate chance to recoup
that initial investment, plus later
profits.
We caution each and every per-
son that such chain letter plans
where something of monetary val-
ue is exchanged are against both
State and federal law. All partici-
pants could be found guilty and
could be sentenced to hefty fines or
time in jail, or both, although
generally prosecution is limited to
the organizers.
Why are such chain letters ille-
gal? Because any profits received
by those who are near the top of the
list come directly out of the pockets
of those who enter the chain later
and who have no chance to get a
return on their investment.
The reason they have no chance
to break even or make a profit is
that it's mathematically impossible
for all participants to benefit, as
prom ised. even if no one breaks the
chain. For instance, if you are told
to mail the letter to six other
persons, a "perfect" participation
would be more than the population
of the entire United States before
round 11 was completed. Not only
that, it's highly likely that the chain
would be broken long before that.
In addition, in some chain letter
schemes, the first five or so names
on the list are aliases of the
originator, making that individual
the only one to gain anything.
What should you do if you suspect
an illegal chain letter? Immediate-
ly contact attorneys in our Con-
sumer Protection and Antitrust
Division in Austin. Houston, Dallas,
San Antonio, El Paso, Lubbock, or
McAllen, your county or district
attorney, or your local U.S. Postal
Inspector. Save any literature,
including envelopes, and be ready
to turn it over to authorities.
Remember, though, that only
those chain letters in which item s of
monetary value are exchanged are
illegal. Chains in which poems,
recipes, prayers, advice, and other
similar items are exchanged are
not against the law.
We all know about Idi Amin's oppression
of the people of Uganda, now thankfully
ended. But his economic atrocities have
received less attention.
DavidOttaway.a British journalist, tells
the story in the Washington Post of a
salesman for a London banknote company
who personally negotiated a contract with
the Ugandan dictator to print two million
shillings worth of 100 shilling notes.
"At the end of their talks, (the salesman)
gingerly asked how he was to be paid.
‘"Print three million, and take one
million for yourself,' Amin angrily retort-
ed."
Flooding Uganda with paper money,
unbacked by anything but Idi Amin's good
name, led to price inflation of more than
200% a year. Price and wage controls were
added, while the printing presses con-
tinued to turn. The results, as in every
other country where this deadly combina-
tion has been tried, were mass shortages
and black markets.
Price and wage controls repress infla-
tion, but they do not stop it. And inflation,
in Uganda and the United States is caused
by government.
After eight years of Idi Amin’s socialist
policies, production of key export crops
from Uganda's fertile farms fell 51%;
mining tumbled 82%; and construction
declined 51%. Only one area of the
economy showed growth - government.
The price controls, combined with infla-
tion. and heavy taxes, led farmers to grow
food crops to feed their fam ilies, instead of
cash crops, and the economy disinte-
grated. Uganda, once one of Africa's
richest nations, became an economic
basket case.
Now Idi Amin is gone, his secret police
disbanned.his murderous henchmen scat-
tered, and the new government has
pleged to "stabilize the currency.” Ugan-
dans are praying that it means it.
Meanwhile, in Washington, Amin's eco-
nomic policies are alive and well.
Our government continues to print paper
money, in a vain attempt to solve the
economic problems created by too much
paper money, that is. inflation.
The United States, like Uganda, will
never achieve stable prices without a
stable currency.
This means we must have a dollar
backed by something more than politicians'
promises - something of enduring value.
The Founding Fathers said this meant gold
or silver. Maybe we should listen to them.
» • I
Paul, Meany join
A suit initiated by
George Meany and the
AFL-CIO, and joined
by Congressman Ron
Paul of Texas, to have
the President's price
and wage guidelines
delcared illegal, was
successful in U.S. Dis-
trict Court in Washing-
ton, D.C.
“President Carter's
price and wage guide-
lines have harmed
workers," said Con-
gressman Paul, "and
they have done nothing
about inflation. I am
delighted that our suit
to have them declared
illegal has been victor-
ious.
"When Congress re-
established the Council
on Wage and Price
Stability, it specific-'
ally forbade any man-
datory controls o n
wage and prices
"But M r. Carter
made his 7 percent
guidelines mandatory
by threatening retalia-
tion on unions and
companies that did not
comply.
"The Administration
used the procurement
powers of the Federal
government, in letting
contracts, to enforce
the guidelines, but the
procurement laws say
government purchases
are to be made from
the lowest bidder, pro-
vided that bidder
doesn't discriminate
or pollute. They say
nothing about 7 per-
cent guidelines.
"The 7 percent guild-
lines are illegal, and
Mr. Meany and I
weren’t the only ones
to think so. The
American Bar Asso-
ciation, t h e General
Accounting Office, and
the Congressional Re-
search Service of the
Library of Congress
also agreed.
"All forms of price
and wage controls are
especially harmful to
wage-earners and con-
sumers. 1 will oppose
all controls on wages
iand prices.
"Inflation isn’t
caused b y workers’
raises," said Con-
gressman Paul. “Only
the Federal govern-
ment can print money,
turning out billions of
paper dollars that de-
preciate the value of
every paycheck and
bank account. W e
need to put the blame
for inflation where it
belongs-on the Admin-
istration and the Con-
gress.
SAGEMONT
ACE
HARDWARE
484 ?172
Now
Reg 69"
*62"
7962
8" RANDOM ORBIT POLISHER
vnuwwr
Designed for polishing cars. Also polishes
furniture and glass; sands wood, metal,
compositions. Takes very little skill to
operate. Won't burn or mar surfaces. Extra
large ball bearings in random orbit head
Detachable6 ft. cord. Includes polishing
bonnet. 2 foam bonnets, 3 assorted grit
sanding discs. 1/3 HP (max. motor output).
It's a foldaway,
portable workcenter,
giant vise and
sawhorse all in one!
FMturM • M <« wo «nd
hokM matanali uo to Z1 dneonall
* A 9000 powtf tool work contoc
• ,ubula'
FREE 50 ft. Extension Cord Offered with
purchase of 7962 Random Orbit Polisher.
Look for specially marked cartons.
AUTO
RAMP
29.95 VALUE
$20”
s»(/i 61/2” Circular Saw
Perfect for home projects.
Includes combination blade.
3/8” Drive 20-pc. Socket Set
Full chrome plated pieces.
$25“
Metric Set 25.88
Plumb 16oz. Claw Hammer
Combination 5-pc. Wrench Set
Made of drop-forged steel.
Metric Set 3.19
SPECIAL FATHER'S DAY
GIFT
SELECTIONS
WEED EATER
Model
409
Model
509
Model
589
Easy Driver
Ratchet
Tool
Now with coupon
86.99
WEED EATER
—— Coupon
2 Keys
— Coupon
" Coupon
Coupon ““
Shoe Shine
Kit
Arrow T-50 Stanley Key
Staplegun Chain Tape
For the Price
of One
Now with coupon
$.79
Reg. $17.58 I
Now with coupon I
812,99 |
Reg. $3.29
Now with coupon
82.50
Reg. $4 99
Now with coupon
83.89
Upcoming Pages
Here’s what’s next.
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Newspaper.
Flickinger, Marie. South Belt Leader (Houston, Tex.), Vol. 4, No. 19, Ed. 1 Wednesday, June 13, 1979, newspaper, June 13, 1979; Houston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1199503/m1/2/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting San Jacinto College.