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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Sept. 22, 1971)
Page 4 College Station, Texas Wedne'd ay s .2, 1971 THE BAIT ixon to unveil new economic program in mid Octobe WASHINGTON (A>)_President Nixon wound up his survey of post-freeze proposals Tuesday and was reported planning to un veil his new economic program about mid-October. This will “give everyone 30 days to prepare themselves” for what comes after Nov. 14, said Senate Republican leader Hugh S. : of Pennsylvania in disclos ing ie President’s plan. Scott said he assumes Nixon will go on radio and television to announce the measures that will form Phase II of the anti inflation program he started Aug. 15 with a 90-day freeze on wages, prices and rents. In the sixth and last of his sessions with economic groups, Nixon met Tuesday with consum er organizations. They asked him fox- an “equality of sacrifice” wage-price program. On Capitol Hill, congressional revenue raisers decided tenta tively to revise the President’s investment tax plan. Instead of the two-step investment tax credit proposed by Nixon, the House Ways and Means Committee agreed on a flat 7 per cent credit for the purchase of new equip ment. The decision is subject to a final vote, and this effective date also remains to be settled, al though it is expected to be set back to April 1, 1971 instead of the Aug. 15, 1971 date proposed by Nixon. Nixon asked Congress to pass a 10 per cent credit the first year, dropping down to 5 per cent thereafter. Some committee mem- bevs argued this would produce a rush of equipment orders fol lowed by a slump. Overseas, West Germany’s Cen tral Bank intervened in the for eign exchange market to stave off a record decline of the dollar. The dollar has dropped sharply in the last two days because of reports — denied by the U.S. Treasury Department — that the United States is pressing for a 15 per cent revaluation of the mark. The Senate securities subcom mittee opened its long-awaited probe of the stock market and was told that the Securities and Exchange Commission will ap prove a new schedule of commis- rv * - '•’I , OOlTM) t-Millt sions for brokers next week,‘ to take effect some time after the 90-day price freeze ends Nov. 13. SEC Chairman William J. Ca sey said that under the new sched ule small investors will not have to pay the present $15 commis sion surcharge, but in some cases will wind up with a higher com mission bill anyway. At an hour and 40-minute White House session, the con sumer organizations told Nixon that his post-freeze wage-price stabilization program had “bet ter be fair,” insuring that big business shares the economic sac rifices with consumers. 'They urged controls on inter est rates, profits and dividends. And they asked for full partici pation in the program to follow the freeze so that consumers A&M to sponsor justice program Approximately 175 justices of the peace from throughout West Texas and the Panhandle assem ble at Lubbock’s Red Raider Inn Monday for a three-day educa tional program. Supported by a grant from the Texas Criminal Justice Council, the Justice of the Peace Seminar will be conducted by A&M’s Police Training Division. The course has nine instructors representing the various aspects of criminal law. A&M’s Ehgineei'ing Extension Service received a $153,679 grant from the Texas Criminal Justice Council to conduct 10 short courses, beginning with the Lub bock session. Pawn Merchandise For Sale Tape Recorders Mech. Drawing Sets Guitars & Amps. Cameras, Radios TAPES Buy - Sell - Trade PAWN LOANS On Anything of Value TEXAS STATE CREDIT CO. 1014 Texas Ave.—Bryan 822-5633 “once more will not be left hold ing the bag.” Nixon took notes, listened care fully but did not indicate what he will propose for Phase II, said Don S. Willner, president of the Consumer Federation of America. Asked if he is confident that consumers will get a fair shake, Willner told newsmen, “I have no way of judging that.” Conspicuous by his absence was consumer advocate Ralph Nader, who was not invited by the White House. Willner said Nader’s name did not come up at the meeting. Nader, left out because the White House said he did not rep resent an organization, termed his exclusion unfortunate. If he had attended, he said he would have called for vigorous enforce ment of the antitrust laws as the keystone of any controls on the economy. Willner said the consumer groups, including the Consumers Union and members of the Presi dent’s Council on Consumer Af fairs, stressed that the post freeze program should require “equality of sacrifice by all ele ments of U.S. society. Any price controls should guard against a deterioration of product quality, he said he told Nixon, and should be backed up by strong enforcement machin ery that includes consumer rep resentatives of the national, state and local levels. In addition to asking Congress to revive the investment tax credit, Nixon already has put into effect a depreciation plan that allows business to write off taxes at a faster rate. The consumer groups said they praised Nixon’s action to stem in flation but added they told the President that equity should be the most important factor in the next phase. Willner said consumers detect some unfairness now. He said they feel wages have been effec tively frozen but “feel totally un certain that prices are frozen.” He said the consumer groups posed the question of price roll backs, adding “This would really do something for consumer con fidence.” But Willner said that proposal drew no response from Nixon or his academic advisers who were present. Commercial bankers met Dr. Paul McCracken, chairma; the Council of Economic Advia SAN RA ■ullet that leorge Ja prison str lather tb and Treasury officials to d Jp war( ^ — •j-.j . ProsrT should include a lid on rates. Bluded Tut The meeting was one ofa,J This wr set up by the Treasury to-■oroncr’s > views of the financial commiMvo days u on the economic stabilizationMnd autho gram that will follow the frB 1 '* 8011 °^' ‘ $ ™TBenipt to e ■cross the ■ MMt IdHMMfl iHHriril IniHttii IhhmI ■ ‘••till VriiHtfl HHlfl HMHil fevj .v.v.v/J v.v.vJ w/.v.J HHihh MV.V.Vl ktMIlHl IhmmV ■Pi 1,7,7. HAIR SETTER i FILE BOX BABY PANTS GENERAL ELECTRIC SPRAY, STEAM, DRY IRON $ M TOP QUALITY - ALL PURPOSE ALL FABRIC IRON NETTED CANDLES GENERAL ELECTRIC HAIR CURLER IN DURABLE STORAGE CASE COFFEE STARTER TIMER $fft(0)(bi LARGE B^xn" FILE BOX WITH INDEX AND KEY LOCK. PKG. OF 4 CRIBMATES BLANK CASSETTES r . first QUALITY 111111111 U 11 L DESK LAMP ICIBAR BOXES $(fMl l «f0| c TIMER AUTOMATICALLY URNS COFFEE POT ON IN THE MORNING. ■DYM0| LABELERS $ HANDSOME HI IN TENSITY DESK LAMP V.L. APPROVED! EMPTY CIGAR BOXES HUNDREDS OF USES NAP PADS $ WELCOME MAT FOAM FILLED T8''x47' KIDDIE REST PADS DELUXE RUBBER 15"x70" MAT 11111 USE IN HOUSE OR ON PATIO - MANY COLORS AUDIO C-60 BLANK RECORDING CASSETTES IS mm SKAGGS ALBERTSON'S PRESENTS THE 1971 OFFICIAL NATIONAL LEAGUE AUTOGRAPH FOOTBALL! ii FOOTBALL WITH KICKING TEE HOUSTON OILERS FOOTBALL WITH SIGNATURES OF ALL THE OILERS DALLAS COWBOY FOOTBALL WITH SIGNATURES OF ALL THE COWBOYS CHECK THESE VALUES LABELMAKER FOR MANY SCHOOL AND .HOUSEHOLD USES. PANT) HOSE CORNBREAD SKILLET $ CHAISE LOUNGE ’@88 RUGGED CAST IRON 8 SECTION SKILLET PORTABLE LOUNGE WITH FOAM PAD PORTABLE GENERAL ELECTRIC STEREO PHISOHEX I BUFFERIN $ BREVONI - QUALITY ONE SIZE FITS ALL SUDSING ANTI BACTERIAL LIQUID SOAP - 16 OZ. ANALGESIC FAST PAIN RELIEF 100 COUNT WILDCAT ISTEREOI iuLm COCA COLA GLASSES PRELL LIQUID SHAMPOO THICK AND RICH 7 OZ. BOTTLE $ DOZEN THE OLD FAMILY COKE GLASS USED IN RESTAURANTS, FOR GENERATIONS - 12 OZ. I I