The Sidney herald., 1957-09-05
Representative
eRo Anderson
Reports to You

August 20, 1855
Washington - AS our commit
tee on Banking and Currency
finished up hearings on Finan-
cial Institutions legislation thi:
week it was abundantly cleal
that there are two distinc'
schools of thought on money
management and our nationa.
economy. David Lawrence is the
publisher of U. S. News ano
World Report, which was among
those publications covering our
Investigations, and incidentally
gave me my first nationwide
coverage on a national issue. Mr..
Lawrence says that President Els
enhower has decided to force the
national economy into a recession
in 1858. Lawrence favored this
plan of action, saying: "Only one
thing is going to stop the infla-
ton and stabilize the purchasing
power of the dollar for awhile
and that's a recession" The pub
Usher and columnist says fur
ther, $50 the outlook now is for
'readjustment' in 1858 -" and
"the wheels of the Nations econ
omy will be slowed down, and
some unemployment will be ere
ated and wage and price levels
will be held steady :" That
these government policies includ-
ing tight money are taking hold
is evidenced by the fact that
unemployment in June was near
ly half a million higher than a
year earlier. Industrial output
is falling while prices and cor
poration profits r steadily in
creasing. 1t seems to me that
the present government policies
are working against the farmer
and small businessman. They do
not reflect a proper optimism nor
a forward looking faith in the
ability of our nation to utilize
its abundant natural resources, its
tremendous industrial capacity
and the full potential of its self
reliant people in the attainment
of full employment and an ever
improving standard of living.
COAL - After nearly a month
of almost daily queries and dis
cussions with the Atomic Energy
Commission, they have finally de-
cided to seek a decision from the
General Accounting Office con-
corning the Roundup coal mining
contract which this year was un-
derbid by a Wyoming firm with
offer lower by less than 7/10
Of one cent per ton. Means will
be sought to reconsider the con-
tract with the view of releasing
some tonnage. There is a faint
ray of hope that the GAO de-
cision might make possible some
coal contract tonnage which will
enable the mine at Roundup to
resume operations.
CONGRESS ADJOURNING u
BY the time you read this news
Congress is expected to be
n process of adjournment for
he first session. / plan to return
Montana shortly afterwards
and hope to see many of you
his fall.
FORT PECK POWER = The
Public Works Appropriation Bill
or 1858 has been approved by
and / was pleased that
he 100000 appropriation we
lad in for installation of the Sec
md power plant at Fort Peck
lam went through without diff
iculty. Power needs throughout
he nation are on the increase,
md people of northeastern Mon
ana are going to be particularly
ortunate to be able to obtain
ONE of the low-cost public pow
r which this second plant at
Fort Peck will soon make avail
BILE.
ECONOMY CUT I was
mong those who voted for a
216 million slash in funds sought
" the Atomic Energy Commits
ion to subsidize private utilities.
CONGRESS APPROVES MEA-
URE - My private bill H. r..
384 for the relief of Medicine
AXE was passed by both the
louise and Senate during the
'eek. This measure awards
TO Medicine Lake, in
heridan county for damage to
S municipal well and water sys-
IN by a u. S. Fish and Wildlife
which has damaged the !