The people's voice., 1957-08-30

| WASHINGTON-AS our Commit
tee on Banking and Currency finished
up hearings on Financial Institutions
legislation this week it was abundant.
ly clear that there are two distinct
schools of thought on money manage
ment and our national economy.
David Lawrence is the publisher
of U. S. News and World Report.
which was among those publications
covering our Investigations, and III
cidentally gave me my first nation
wide coverage on a national issue.
Mr.. Lawrence says that President
Eisenhower has decided to force the
national economy into a recession
in 1868. Lawrence favored this plan
of action, saying: "Only one thing
is going to stop the initiation and
stabilize the purchasing power of the
dollar for awhile and that's a recess
sion.' The publisher and columnist
says further, $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 created and
wage and price levels will be held
steady . -
That these government policies in
cluding tight money, are taking hold
is evidenced by the fact that unem-
ployment in June was nearly half
million higher than year earlier.
Industrial output is falling while
prices and corporation profits are
steadily increasing. 1t seems to me
that the present government policies
are working against the farmer and
small businessman. They do not re-
fleet a proper optimism nor forward
looking faith in the ability of our
nation to utilize its abundant natural
resources, its tremendous industrial
and the full potential of it's
self-reliant people in the attainment
of full employment and an ever-im-
proving standard of living.
Coal-After nearly a month of al
most daily queries and discussions
with the Atomic Energy Commission,
hey have finally decided to seek a
decision from the General Accounting
Office concerning the Roundup coal
mining contract which this year was
lnderbid by a Wyoming firm with
an offer lower by less than 7/1O of
me cent per ton. Means will be
ought to reconsider the contract with |
he view of releasing some tonnage.
There is faint ray of hope that the |
GAO decision might make possible |
ONE coal contract tonnage which will |
,nable the mine at Roundup to re-
ume operations.
Congress Adjourning-By the time
ou read this newsletter, Congress is
expected to be in process of adjourn
nent for the first session. I plan to
eturn to Montana shortly afterwards
nd hope to see many of you this fall.
Fort Peck Power-The Public
Works appropriation bill for 1853 has
cen approved by Congress, and /
yas pleased that the $3,0O0,00O ap-
we had in for installation
f the second power plant at Fort
eek Dam went through without diff
iculty. Power needs throughout the
alton are on the increase, and people
f northeastern Montana are going TO
e particularly fortunate to be able
} obtain some of the low-cost public
over which this second plant at Fort
eek will soon make available.
Economic CUT was among those
ho voted for $216 million slash in ,
1nds sought by the Atomic Energy ,
to subsidize private utili- E
eS. 3
Congress Approves Measure-My |
'ivate bill HR 1884 for the relief of
edicine Lake was passed by both f
lie House and Senate during the I
eek. This measure awards $4,000 I
Medicine Lake, in Sheridan county, \
r damage done to it's municipal we'll 1
Id water system by u. S. Fish and e