Prince Rupert Daily News 'RprVWteBtChurrhMt The AnnUal Meetl"9 of Shareholder, Saturday, January 13, 1951 An tadeoenrient daily ncv.spc.per tkvoted to the upbuilding of Prince I he Royal bank ot Canad DIRECTORY uperi ana wormorn and Central British Columbia, "ember of Canadian Press - Audit Bureau of Circulations Canadian Daily Newspaper Association m TTTTVTTr'TS : ,.. Scilardaii Sei i ura a ii sermon -''-v, miaguig r.anor. H. a. PERRY, Managing Director flervlrw In all f hurt he M l in, ..hi z:; p.m.: Sunday Hrhool mt ''iris evcept as shown. ANGLICAN CAT1II URAL th Ave. W Bt Dunfmulr 8t Hniv Communion am Suldnv School 3:00 p m. Canon Basil 8. Prockter, 3 A.. E G Rector: Blue 7S3I SUBSCRIPTION RATES: 'V Carrier, Per Week, 20c; Per Month, 75c; Per Year .CU; By Mail, Per Month, 70c; Per Year, $8.00 Published every afternoon except -Sunday by Prince RuRert Doily News Ltd., 3rd Avenue, Prince Rupert. General Manage; Reports 2 fli (By Captain Poulton, Salvation Army "Jesus said: he that belleveth on me, belleveth not on mc but on Him who sent me. And he that seeth me seeth Him who sent me." John 12:44-45. When I first started to study arithmetic at school I was greatly concerned about the relative values of ihe lowest c oinmon multiple and the greatest common factor. I still have to stop and think before I can Voluntary Curb on Spending Would Speed Re-armament and Preserve our Free Economy Deposit Account) FIRST HAHTIsr 5th Ave. E at Young MitjmU : Rc-v fted Arstrobus (Oteee 812) FIKST I'W-'KBVTKKJN Rev. E. A. Wright, DD. (Green 982) separate these terms. Bat it seems to me that they Physical controls useful but no substitute tor a real attack on inflation. Non-military expenditures hr& terms that we can look at seriously as we get into I'IKST I'NITKH d'Vt 6th Ave Wef Key. Li C. S:i'V:er (Green 613) must be cut. President proposes four point onfi-inflation programme tins new year and attempt to find a common place of agreement between nations and cUurcljes. Tne place of agreement between s.a- Ray,., Fl l.l nosi'KI. TAIIERN'Ari.p 202 GUI Ave. West Pastor: C. Fawcett Services 11 a m. and 7.30 p.m. Sunday Schoul 12 16. (Green sail How the inflationary spiral ran undermine the very basis of free Canadian democracy and the uositjyfc slvps wiuca should Ik-wken now to meet this threat were emphasized by James Mulr irj his Presidential address at the jmnua1 meeting q shareholders of "The Royal Bank of Canada. ami j twns we mt lepyp in those w I have elected as eur legislators. J I TUe place of agreement between I the Christian communities as' I touching on a milted front ! I against fiiifl gnrl Hel and thn j Devil is sqiðijig that' all Christians must da something! T. II. Atkinson, General u ager, in reviewing th. TV" WaO Annual Report. ,ut ' total assets of The Royal ft-of Canada now exceeded tu' MO 000 the highest pu t E' field of Canadian bunking par Its had afw iiicr" rial y to read, $a.337.5u3 4C thfnr111."1 u,e V 1 hwc nnd nlo rjn a . Ing Increase in the numC i.ne bank's depositors the a-lumber of accounts 'beini 2.0UO,000, practically lwtjl; Ahlch were hi Canada s January i, 1945, the numii lecounts on our bonk in Ci has Increased by about (,C wV M i"'-C Air increase of sn$w iroiiU was nowd bv the oMV Manager. After pruvidinn for ' usual deductions, iiidudir..' t 14,012,000, and 4 there was a cairy-Iorwarc : vofit and loss account of $1 Ta5, briiiEiiiij this a noma The Korean war. said Mr. I came to Prince Rupert Muir. and the threat of war ; about 8AI.VATI- AKV CO.: Cspt. W Poulton Ijmmtory Claw 1:30 p.m buniluy School 3:00 p.m. (Black tr. I'Aii tt irnn:tM Ath Ave. nt Mi-UrlOt St Parlor: "J Sotland lUlmJ CIO) i iui.1.. sr:awiiei. IlilU uusea I1KW inila- I suggest y;at e have hfifJ) " ' luu Uonary problems on an economy too buy trying to find the low- 8 remark frequently heard, for- already fatigued bv the Ion est common denominator ... we get it. Perhaps by thi tjme fLrBugfle agfa1 m" watio?i "w have aU fcaw too busy trying to you'd be lamenting tha fact you no longer hathat exe"' cap-ftiscoyr.- hat we py ehujinati had not aj-rivd soon enough, ajid acity in capital and manpower from i our own ;cred nj thews . 1I1Kht aMBB Bmlin, that made possible more guns uq uius i pie u mc --' ---f- ana mora butter in tne early 6T. l-KflB'S AMJIICAN Hnipohv ochot.; tlM a m. Evefilim Prima i;- p.m. Blu til) vears of th lniit ut nm'iln other fellow tp haws fellpwhl.ip Canadian destroyer? helped in ' Full employment ui men and i.M0.039. From this total. J with MS. This i th wrong apprjaeh a, withdrawal from Korea. Navi- resources is a symptom of econ- MM.i t.iii hai'Tist 11 lie InateaH lnnlc W (ho mtlno n(fl,, hnn,J fK rn. "(S"1 ' puiceume. 11 ne ite.serve Fund, whuh J (U9 6t.b Av E. Blue 803 I'aotur: Urv. I.rmplril A. l)'rp." F , v. v,o m "tFwwB- means however that any adddl- OREATEST CPMMOIK FM JOR Js l,ieut. Collier, and verily he's tlonal demands upan the ectn-W wiil not have to look very asc the wh 1 La haired how iad- ?lny can be mel "'v by curtail- New Branches "DuruiK the yeur, IS brunnh office were cuir.pi, in addition tu which rather far. John says of Him . . . -He Z ,, ' . , " " m8 demand elsewhere. This Ulg Ulc otller M" the Caa W hat the additional de- First Presbyterian Church came into the world and the .world received Him not, but as 'ed Perils wUhout number. The """"P0" our ecpnoniv arising ...,,. iiiiui 4UUIIS were 1, many as received Him to them coasl strange, rour ttouri 01 --'"-"f " cutting oack oy our nornui o ya ouier ojiices. Wurk , ommenced on an addition new branch buildings aic extensive alteration projt which work had not been t pUite4 by the year' end Wt ' op'ned 24 full-time btts., nd 1 sub-hranc-h. We ar gave He power to become Sons flatness, no ouoys, no lights, of Qod " minefields, dipals, mwlUaiiks, Poverty currenU and grve The greatest common factor dangers when dozens of turnings in is our religion Jesus Christ, ad l be Performed along w ind-mon There are some other great coin- f Zl ng shores-. Tne factors alsA I .11. niP Wta peacetime demand for capital and consumption goods. Cpsf p( Rearmament "This curtailment 0 peacetime demand is the cost of wartime rearmament. This cost cannot be postponed. It must be met at once. And the fundamental INCOME TAXES COULD BECOME TWO-EDGED SWORD The most powerful weapon in tne fight, against inflation is generally supposed to be a .stiif increase in the income tax. But the test of efficiency must be that any Income tax increases shall penalise spending and reward saving- Such a criterion would rule out drastic Increases in corporate taxes, especially excess profits taxes, tend to encourage waste in management; and, in addition, excess prot-its taxes are arbitrary ip their impact and inflationary in their final effect. The personal income tax U itself a blunt instrument that muy hit spenders and savers alike; nevertheless it may prove to be tiie only weapon with sufficient power to check spending, even though in the proMss some savjpa is hit as well. To minimize these faut3, and to ensure fairness, I would suggest that any increase in Income tax burdens should recognize: ill that ah effective attack upon inflationary spending can only ue made by broadening the tax base through lower personal exemptions; (2i that equity demands the vigorous reduction of Income tax evasion, now J11 to apparent outside the fixed waje and salary group; 3i that equity and efficiency alike demand the exemption from income tax, wherever possible, of the bona fide saving of the public, in its simplest form, this might include the limited exemption of insurance premiums and ol net purchases of savlpgs bonds over the year. I am aware that to implement the third suggestion mav be work for a genius in political and social invention; but, if so, we should be looking for him. Otherwise, as tax rates rise, the blunt instrument of the Income tax may become a dangerous anw perverse weapon that penalizes savins even more than it penalizes spending. The failure to exempt saving when income taxes are very high will not only reduce their uower to urevent infla- ' 1 hnH t hn f vnrf 111 U l operaUnir 653 bninche mi as t.hnt tbey are simply stated not once, was there mishap. pruMem as war economics is to sub-branches In Canada." " Aid To Traders I crv, , r Men Must Work THERE are two c'asses of unhappy workmen in I the world, and by v,-orkmen we mean everyone f -om the president of a lyrgc corporation to the day laborer, says the monthly letter of the Royal Bank of Canada. First, there are thrse who have jobs which wholly satisfy their creative and energy needs, but .'o not provide what they desire in the way of monetary rewards or social life. Second, there arp those who work hard and earn a good living, but who have jobs which give them '-e "fenced-in" feeling common to persons' whose ability is denied expression and whose talents are "Tireognized. In addition, of course, there are people who believe that work is something to he cut to the minimum. There are so many in this class as to eiye cheer to ambitious people, who find less competition than there might otherwise be. Today's working man (and again we include everyone from the highest-salaried to the lowest-;aid worker) needs more than skill and smartness. These are days when qualities of character are more important than eve- before: stability, toleration, co-operation, and self-it straint. They are days when a knowledge of economic affairs is needed, not only of the family budget kind, but the kind that tells the' reason for the taxes deducted from one's pay envelope. Work has as irs purpose the production of things to use and services to enjoy. Business is not a struggle for wealth that already exists, but a system of co-operation in producing and exchanging things that people want. The more things we produce, the greater choice we have of things to enjoy, and the more we will have to exchange for things we desire. , Looked at in this way, work is not a curse. The law "In the sweat of thy brow shalt thou eat bread" may be read as one of the most beneficent laws of i'fe. It was probably because they had nothing to do hqt Adam and Eve became so easy victims for the temtiter. Social and political dreamers foster the fallacy rhat work was imposed upon mankind as a punishment. They do this because the notion breeds discontent and thereby frrthers their purposes. In fact, a every thinking man and woman will admit, work is strengthening, satisf lying, and a great blessing. It is essential to hum.;n happiness. But to discharge its responsibilities work must have certain qualities. It must be honest, useful and cheerful. It was of this kind of work that all the great men of the juut century spoke when thev preached the Gospel of Work: liberals like Mill, socialists like William Morris, reactionaries like Oarlyle, Christian socialists like Kingsley, and half-socialists like Ruskin. Tolstoi said: "It is pleasant to dream of eternity, hut for an honest man it is enough to have lived his life, doing his work." I Russian reports teU of the blrtri iww that u4y tlie least eo-of ouintuplets to a woman tnl8"31?1. P'4tt of Pea Uuu; de- ed another satisfactory yen : follows : We beJieve: In dan In ie-niH rhfist His son ' Ir the Ho'v Siirit In salvation through Uip blood of PhHst Siberia. Somewhere, there mustt "a?q ,?,!nus c"rtaitd. "In this way we can reduce the be ari error. It is widely known1 dlslrV1 Utn nf mil A-w,imm n.ni.. that Russians invariably doJed by new armament expenrli-things best. The. total should ture. If w can reducs this dls- 231 Fourih Ave. East in the indwelling of the Holy naye been Qr m Minister: Rev. K A. Wrmht. DD Organists: Mrs.. E. J. gmith. John Currie. Ip the Pibje Net' Oething's life reflected In lusation we can inereae the ef- i fectiveness of our war effort,1 and at the same time we can erasure that the freedom we aim to defend will in, 1 act be pi- : served. "What part of peacetime de- i In Heavefl and Hell These seven great common fac- rn,nmh,; J: I , itors are to he fund in suh Brs documenU as the ArUcles of the ? "S, ZLluu Sunday, January 14, 1951 Myrnir , . qishlp 1 1 vVlock. Solo By Rowland Mjles fiunda: fcchojl 12:15 Kvet.L.g Seivice 7 3J " uaims Dran;nes in weli Indies. Central and South erica, and in other -ireis j side Canada. He noted par l larly the important service A farmed by these branol-ji! fr-iJitaUn and promoting t- between Canada and other t tions. An Important and tf fhi v 'vimDteiueiit W) the tio. ' ment's trade activities "arc banking services and first-i knowltdse which our brai.i abroad can and do contn Hh our chain now numrxi 61 nffires outside of CanadiX... with offkers who titve I trained on the ground, speaif '"" ' and are luliy twi t-1 ant with local requirements ft aie In r) uniivajied posiUufe" assist Canadian exporters s itnportei-i and all tlio.se dm interested in the develoomc la. mand can most economically be sacrificed to the neads of cle- Angtiranhurch, in the West-, "-- 1" ' n minster t;QnieiQn 01 the Fm-iVas, Drovln Hp knm th fence? bvterian Church, ki the.Poou-B' eountr-. and the count.-, wh. "There are broadly three areas of demand In which cut-backa ...T..Sa.?.1:alnent. ZXZTrT ers- Th-e are not ma'ny .eft. might conceivably be made. They ouijper win De ooserved at the , "V'" ' ' " , i who can look back over memor- are U) the demand by consum es, In the profession of Fsltb evening service. ies, so many and sq varied the United Church of Caniidfi. "Rempmher t.hp S.ihhnth ri.,. j' 4.. n.. 1 to Keei it Holv " , -,ji ' .h K7 Rainfall in the Olympic penm ers, especially for durable goods: 1 (?) the demind by bu-me:-s fori materials needed in the expan- i sion of plant and equipment;! and 3i tlie demand by novern- j ment for non-miliiary goods and 1 services I We extend a cordial invitation Pentecostal Assemblies. Plymouth mZTXI'' !!,. . u: Rpl.hn Tlio Soluotlnn A.niv ' ' " v"-w.-. ,.i ia. iuicigu commerce, over k the region does not appear noted for precipitation. In anrt around "Further inflation can b" ii.ynjia tu wuiamij '- witn us. " wM..HUau.. , and others. 1 ' i Fellow Christians, we need a FIRST UNITED CHURCH united front to clo,p & Rabwt dank has offered exc rnnci nupert, wnere the rain avoided if the money value of amounts to somewhere around increased armament is onset by Tvice of u xcelieiit I, Cimcf nut f b.i ! portuniUes to young K , im forces of unbelief. ucuei. i-xt, Lt w us half ,v, 1. i i i..i Iha rurini'oil iluiuid h ,,,,.,,,.. wno nave desired to to career nf liitprnittinnni mil 11:00 a.m.: Morning Worship not be engaged in watering down . , ,..' i, ' ;'"' a era. business and eovernment for ' tion in the short run, but may from "j7r. ' non-miUtait aoods and servi.es. Sermon: "What Do You Do our religion. Let us cease Sue ii opportunities still exis young men of couratie who if About Detours?" 1 looking for a lowest common de Contiolc Not Enough the buckgrouud and prepurj j' required to qualify for Imp Children: "A Helper at Anti-' Jack Scott and family are back "Once the limits of voluntary In Vancouver after having mo- "avina have been reached we are nous in our loreign neturi nominator. Rather let us look up to these great factors. Our spiritual arithmetic wi'l improve . . . more souls will be won . . . the churches will grow md orancne.s. 1 ribure Tc Stoff in the loii! run prove a positive danger to democracy Itself. The extremes of "left" and "right" in the world today are mediated in the great democracies by a strong middle class. It would be a' tragedy indeed if democracy should perish because. In the supposed Interest of its own defence, it liquidated this guardian of democratic ' tored to the "u "": -,tu 1X1 Maritimes, the "'V , . u and on Pnvslcal controls. Physi-S.k"! Southern Stales nnrt fniinrni., California. cal controls may 0pcrate indi- The gratlfvlnff fiaures och" Anthem: "Grant 'Us, O Our Heavenly Father" Folger. 7:30 p.m. Evening Worship Sermon: "A Christian in Society" Anthem: "O Taste and See" have before us touay are dmj a very large degree to we evil will be nut on the defensive. "I,c.a TSJ , mo" rectly through credit curbs or I believe ' Do vou' and coverea " 486 miles. High directly through government al- 1 lights, in delectable fare, includ- location of s:aroe materials ed goldeyes in Winnipeg, Job-' combined in various degrees DOMANSTOWN, Yorkshlr sters in New Brunswick and cof- wiln Prll;e control and rationing. acu-ncy, enthusiasm, ana gressiveness of the member j Goss YOU ark WEi.nnMii: 'England W Twenty year ago TTDlrec't controls, especially in tho form of Drice con fee and doughnuts in New Or- ,1I,cse P nyji'u controls are loan, aii n !u not. properly speaking, defla-m. JTT Uonary at all. From bitter ex-was memorable. n In r he particular perience after the last war we won't forget a spell of pneumo- know that physical controls AT THESE SERVICES ' I Mrs- Elsie Horner lost a ring. SUNDAY SCHOOLS - At Fl-st'Now Jhe nas recelved a let'er-United all at 13:15; at Conrad ' containing $4.50 in conscience trol and rationing, should nia, and the Job of keeping hi3 conceal but do not directly re be measures of the last resort, and should be treated United Hall all at 1 p.m. admitted eyes on the road. duce inflationary pressure. They attack the symptoms and" leave as stop-gap devices, not as mqney. The sender taking the ring. the disease itself unchecked. substitutes for a true anti-lnflationary policy. "Perhaps we should not Ignore the possibility that, having falN ed to realize their hopes ol capi- LONDON Smallest "baby", Their proper use is to divert to b3 boin at the London too is demand from scarce to relatlve-s finnth AMran vo -Ymni Ai 'ly less scarce eoods and- serv- REDCAR, Yorkshire, England Ish Eter.mer ran aground again R Refloated after running hilc t-jinp itwed up the Tees aground here, a 7,212-t.on Brit- River. PORT JTALBOT, Glamorgan, Daily Health Hint Wales -Three youths who though classed as a rodent, this' .vide a '.'n fm until Cf,f Ji fiscal t0, pro', and tc a-.un ljuiri juil tti-i m and it is fitting that I srf say to them a formal but 4 sincere 'thanks' for a job a" done. F "In the ordinary day-to- business of th bank oursf-continued the happy tradltiorp friendliness always asso:L with The Royal Bank of Can j "For, their friendly concur business as well as for "j readiness to rise and nieetfl ergencies, I express the tl of management to our 9f 12.000 staff members and as I to those other employees of f bank who contribute so mwti the efficiency of the organi-l tion. J. "I can assure the Dlw't and shareholders that mow I high, and that whatever : crises come upon us in the ' ppening year, your stall measure up." I stop-gap ta"-,t collapse through post-war damaged twq buses while trying diminutive creature is the mul- mofietary policy can reduce Inflationary pressure through di to drive one away, appeared in 'est of the monkey trlble. court. They were discharged by .v., l. u , . T.TrmW tfntrlanl (fttt A tint- In rect action. Physical controls have their use, especially in to- Regular intake of life-giving vitamins is necessary to health. However, you can't fill up on vitamins today and expect their benefits to last a week they must be taken every day, ably in natural foods. see UK juuKC wnu sum -l am giaa 7 " "'Ital .. .. wnr h.,t t.h Qr .vt- depression, the communists are now trying to engineer capitalist collapse through the inflationary pressure of a continuous armaments boom. But once the required amount of armaments expansion has been determined, the inflationary problem created by that expansion must some- irus Beaiorasnire town, said to t,ltp Ti ".hV"f T..." . to see you boys " show the spirit be ld' haS iUSt had l on." "y '"flat 01 of adv aaveniure nture which wnicn all all B Britiih HUsh another That1 "happ yevent." Tr F!nhr nfn4.: lads should have " makes 450 kittens to date. 1 The hK'S", ,n,lot'? powerM suggestions made In this now De met "As a means to this end I msr co m pi f my automatic appraisal of ways to fight Inflation would, I think, be broadly acceptable to a majority of cltl- 1 Queen's Carpet Continues Tour nmiF iu tuf mw-Pfiirt rnn i I zens. wnetner inside or outside j the government. I would sum TORONTO 0) The famous Oueen Mary'r earnet, spon&Qid iCIIEVROLUT by the Imperial Order Daughters , of t he Empire, now is past the I j) This veru dau AT -halfway mark, and is starting ani Eastern Canada tour after being j displayed in Western Canada i economy. My reply is that, if this Is true, then! have no one to blame but o selves. If Canadian capiWi not playing a large enough P- in developing our resources - expanding our Industry, thp r'; son must be not that Cana. eapltai is too meagre for J Job, but that, in spite of the w stakes, Canadian capital re1"? to take the risk. From her'1 let us see to it that our our energy and our risk-"" spirit are not found want j "Actually a new spirit of terprise is abroad in the i personally I have great wl and the Maritimes. 5 Long Motors Ltd. should like once more to emphasize the moral and economic obligation of democratic governments to maintain ordinary expenditures at the lowest possible level. If democratic governments fall to meet this obligation, they will in effect be giving a measure of aid and comfort to the enemy. At this stage, the most important weapon in the whole arsenal of war controls is the control of ordinary government expenditure. "Emphatically, the price of our safety is not only the expenditure of vast sums provided by savings and taxes, but eternal vigilance over the uses to which these funds are put A major defence, effort has such an impact upon our economic resources and our standard of living that a democratic government would be guilty pf criminal negligence if it did not da all it could to preserve the free economy bv confining its orriinni-v. marize them as follows: 1) Voluntary saving througn the patriotic restraint of consumption should be encouraged, by the precept and example of government, business, and private citii-.ens: i.e., through less non-military expenditure by government, less capital expansion by business, and less consumption (especially on credit! on the part of private citizens. 2) Voluntary saving should bo encouraged, borrowing discouraged, and fiscal policy made effective by allowing a continued movement towards higher interest rates. 3) Taxes required to prevent inflation should Denalize 1 1 1 Tlw Pueen Mother offered fhri gros point carpet on which she worked for years for sale to helpj the British dollar shortage, and I U-J FOOTHILLS "HARD" ALBERTA TELKWA CfJAl IN ALL SIZES Lymp . . . Cobble , , , Egg Nit and Stoker PHONE 651 For Immediate Delivery philpoh; EVITT & CO. the I.OD.E. offered to establish fund open to the peneral public 1 to raise ar- much money as pos- me ra it. I believe this is n'linii -n,T' vm.iataxfint, ifrtixi : y'j sible. with a minimum objective , appropriate to the true I of $100,000, w'th which to mvc- alan character. t'T u tn mlli-i' chase the carpet for Canada , luwy nub ic ww - j Net proceeds and collections upl hope that Canada may w as it were, a working mow 1 V-3 to Jan. 5 amounted to $57,000. cmuiupUoB and reward saving, whether through direct taxes on consumu- the free eeunomv in o t I.J.r tn the'1 On completion of the fuad, the expenditures to the absolute tion or through income minimum carpet will be presented to the at large that the road to l . BCltDING SLPJ'LIKS LL'MBpR .J1951 CHEVROLET... Canada's Largest and Finest low-priced car! National Gallery at Ottawa 'as J &ththa toTaPtfideTvC haVe a11 heard 11 W at omic'FreedomTs also the sl aLgree ine Dona fide sav- one t m nr iu... a D fi ,.,,, 1 to sl i a gut to the Canadian people. ing of the public. can capital is taking over our' progress.'