Vol. 54. No. 21
May 2, 1969
Samford Crimson
Samford University, Birmingham, Alabama
Turner Shows Government
Economic Balancing Acts
The nation's leaders seem to
have the economic situation in con¬
trol, according to Dr. Robert C.
Turner, economic advisor to sev¬
eral U.S. presidents in the past
thirty years.
Turner spoke last week to a
group of business majors and oth¬
er interested persons on “Econom¬
ic advisor to several u.s. presi¬
dents in the past thirty years.
Turner spoke last week to a
group of business majors and oth¬
er interested persons on "Econom¬
ic Stabilization: Fiscal Versus
Monetary Policy" using as a guide¬
line an illustration of the normal
course of monies through our coun¬
try's economic system. Citing num¬
erous exemplary figures. Turner
described the overall picture of
our economic state and the two
main ways the government con¬
trols inflation and depression.
The problem of economic stabili¬
zation is controlled by two bodies
—Congress, through fiscal tax pol¬
icies. and the Federal Reserve
Board, through distribution of re¬
serves to banks and setting the na¬
tional interest rate limit. Con¬
gress's fiscal policy, noted Tur¬
ner, is more direct.
The income of government
through taxes largely controls the
ability of our nation to pay off its
debts, both domestic and foreign.
The output of taxpayers is also
strongly affected by the cut or
hike of taxes. Using the surcharge
issue of this last year as an illus¬
tration, Turner showed the effect
it would have on the individual
taxpayer by lowering his "take-
home" pay and the benefits reaped
by the government through its in¬
come increase.
The Federal Reserve Board's
monetary policy is more indirect
than fiscal policy. "Ideally," said
Turner, “interest rates affect the
price of money as a whole," but
really they affect the price of
money very little. The price of
money is more genuinely affected
by the Fed's reserve limits, that Is,
how much money may be released
to the public in relation to a cer¬
tain amount of reserves a private
bank holds in the Federal Re¬
serve Banks,
Turner said the United States
economy is growing. Labor forces
in the United States increase about
1 per cent each year and the na¬
tional output rises about 3 per cent
annually. Thus the problem of eco¬
nomic control by government, he
said, is continually increasing just
from size and output of the labor
force.
He noted that the government
has not failed to counter extreme
deviations from the desired nor¬
mal economic level since the De¬
pression of the 1930's. Turner de¬
nied some individuals’ opinions
that the present fiscal and mone¬
tary policies have failed to re¬
verse the present inflationary trend
by saying that the desired effects
of policy changes often take as
much as two or three years to
achieve.
UGLY
. . . Scout-on-campus Larry Becraft is one of the nomi¬
nees in Alpha Phi Omega service fraternity’s annual
Ugly Man on Campus campaign.
ч
\
4
*mi
FLYING
. . . High are members of Alpha Phi Omega’s Step-Sing sweepstakes winner. Larry
Worley coasts moon ward from members’ launch pad.
APhiO Cops Sweepstakes Award
in Annual Step-Sing Presentation
The last group left the stage,
the judges tallied the scores and
Ben Rice, master of ceremonies,
announced, "Guess what I know?"
The hardly surprising news was
the presentation of the Sweepstakes
Award to Alpha Phi Omega for the
best group in competition in the
19th annual Step-Sing.
First place winners in the men's
division, APhiO saluted the brave
men who are conquering space.
Honoring Apollo 8 astronauts Lov¬
ell, Anders, and Borman, they took
a trip to the moon via an official
model scale rocket borrowed from
Oops
Last week's Samford Crim¬
son erroneously reported that
32 per cent of those voting in
the April 6 thought analysis
poll failed to answer the ques¬
tion concerning the Student
Government Association sen¬
ate's sensitivity toward its con¬
stituency.
Actually. 32 per cent answer¬
ed that they felt that the SGA
senate was receptive to stu¬
dent thought.
The 6 per cent that, in fact,
did not answer the poll ques¬
tion were reported . as having
thought that the senate was
responsive to student thought.
The actual poll figures re¬
veal that almost twice as many
students believed that , the sen¬
ate was not sensitik* to stu¬
dents' ideas and thoughts as
believed that it is. There were
678 students who did not think
that the senate was sensitive
to their needs and 344 who did.
About half the student body
was represented in the thought
analysis poll.
NASA.
At blast-off APhiO soared with
"Everyone’s Gone to the Moon."
With the moon in the background,
"Going Home," the space voyag¬
ers were able to see the world as it
really is. This is the time to real-
UMpe
Begins
Today
A spirit party, slave auctions,
two coffeehouses, and a softball
game are some of the activities
which will take place during the
Ugly Man On Campus <UMOC)
contest.
Begini.-!*; today, the UMOC con¬
test extends through Monday, May
12.
Alpha Phi Omega sponsors the
annual event to raise money for
charity. Bob Dailey, member of
the UMOC contest committee, em¬
phasized that money collected from
the various activities will go to
charity.
Dailey told Samford Crimson the
service fraternity's goal is to raioe
41,000. Money collected will be
nated to the Gateway Mercy Home.
Tomorrow night's 4>ir$t party
will be held from 8:30-12:30 at the
Fife and Drum (Roberts' Cafeteria»
in Vestavia. The Second Warnings
will play. Admission is $1.50 per
person and $2.25 per couple.
Tuesday night the “One Way
Street" will entertain at a concert
coffeehouse in the student union
building.
ize "all men are brothers on the
eternal cold."
The group saluted the three as¬
tronauts who had “indeed touched
the sky." They sang “Who Has
Touched the Sky?" as the space
travellers appeared at the tip of
"V" formation of the group. The
astronauts were portrayed by Da¬
vid Gillespie, John Mills, and Steve
Wiggins. At this point, on cue from
APh'O's sweetheart Cecilia
Alford, multicolored fireworks
streaming up from the stadium
field exploded behind the auditor¬
ium windows.
The crowning performance was
achieved only through hard work
and ingenuity. Purchased in Nash¬
ville, sky-illuminating fireworks
were displayed with the permis¬
sion of the Homewood Fire Mar¬
shall. Countdown tape and rocket
display were obtained through the
space program in Huntsville.
The “authentic" space suits were
created from rented white service
uniforms and red tape. The APhiO
astronauts wore toy space hel¬
mets.
Songs were directed by Larry
Worley and Rex Nelson served as
narrator.
David Moore, APhiO president,
and his industrious group not only
Pleas* turn to Pag* Eight
Convo Today
Today's Law Day convoca¬
tion speaker is
О.
K. Arm¬
strong.
He is a former U. S. Con¬
gressman from Missouri and
author. President Wright will
introduce the speaker. Arm¬
strong, an alumnus of Cum¬
berland School of Law. is also
an editor of "Reader's Digest."
Samford University Libn
