davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-11
ECONOMIC
Continued From First Page


Continued From First Page
borrowers figure they will be
able to repay their loans in
cheaper dollars than they bor-
rowed," a Federal Reserve Of
f1cial explains. This prospect
encourages borrowing.
DiscOurages Lending
At the same time. anticipa-
ton Of a drop in the dollars
value discourages lending. If
an investor expects the dollar
he lends to be worth less when
he gets it back, he hesitates to
make the loan.
Savers supply the money Tor
loans. But instead of saving in
the bank, buying bonds and in
vestlng in mortgages, many
persons are putting their spare
cash into stocks or goods. They
are protecting themselves
against price rises. that eat
away the dollars value.
When investors buy bonds or
otherwise lend money, they de-
mand interest rates high
enough to Offset future declines
in their dollars power. The
more imitation they expect by
repayment time. the higher in
terest rates they demand as
compensation.
Banks Reluctant
That's one big reason for
these recent Developments:
Reluctance of banks to buy
mortgages at 514 per cent in
terest forced the Federal Hous-
ing Administration to raise the
basic maximum rate on mort
cages it lnsures to 534 per cent.
Major banks boosted their
prime interest rates-charged
on loans to the biggest borrow
erS and best credit risks-from
AZ to 5 per cent, with rates for
leSs-favored borrowers scaled
up from that base.
Leading sales finance COM
panies, which handle consumer
inStallment credit, raised inter-
est they pay to obtain funds by
% to u per cent on some types
of loans.
The Federal Treasury sold
$2.2 billion worth Of four-year-
and-10-month notes at S per
cent interest, the highest rate
since the 1905; sold its latest
issue of 13-week bills at 4.26
per cent. up from 2.79 per cent
about year ago, and the high
est comparable rate on record;
and raised its rates on E and
H savings bonds from 3H per
cent to 3A per cent.
Debt Management
High interest rates have
vastly complicated the Treas
ury's problems in managing the
Governments $285 billion debt.
Uncle Sam can always borrow
the money he needs, but the
technique of borrowing has i'm
portant effects of the national
economy.
The most obvious symptom
of tight money at the Treasury
is the mounting outlay for in
terest on the public debt. Since
January, the estimate for inter-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-11

est payments during the fiscal
year ending next June 80 has
risen from So billion to SO bill
lion. Last year interest cost the
Government SIS billion. The
increases result from both
higher rates and the larger
principal.
The Governments scramble
to borrow money also has dis
torted the structure Of the pub
lie debt. Interest rates have
risen so high that the Treasury
cannot sell long-term bonds at
rates under the statutory cell
ing of ~ per cent. Congress
this year refused to lift the
ceiling. as President Eisen-
hover asked.
Short Term Loans
Thus shut out Of the long
term credit market, the Treas
ury has been forced to do all
its borrowing through short
term notes and bills. There is
no ceiling on interest paid by
the Treasury for securities ma
turing in less than five years.
Treasury officials contend
short-term borrowing is more
inflationary than long-term
borrowing. Furthermore, they
observe, heavy Government de-
mand for short-term credit in
tensifies competition for money
in that sector of the market
forcing interest rates up and
squeezing out some private
borrowers.
A recent analysis by the
Treasury showed that rs per
cent of the marketable Federal
debt-securities that can be
traded-will come due within
five years, compared with 81
per cent in January, 1856.
About SIC billion of the debt
must be refinanced or paid of
during the next IL months.
That's only So billion less than
this years total budget.
Treasury officials complain
that they are in the same fix
as a homeowner who must re-.
new his mortgage every 80
days. They want desperately to
correct this situation by selling
long term bonds.
Sees Expansion
At the Federal Reserve, a
top-ranking official comedies
that credit is tight-in the
sense that borrowers cannot
obtain all the money they
want. But he emphasizes that
the supplies of credit and
money are expanding steadily,
not contracting.
We're not going to dry up
the supply of money" he
promises, continuing:
Our job is to make sure
that the economy has the
money it needs. But our obliga-
ton to keep money available
doesn't mean that we should
guarantee a low rate at all
times"
He is counting on high in
terest rates to help balance the
supply and demand for, credit
by attracting lenders and dis
couraging marginal borrowers.
In following this course, the
Federal Reserve is bucking ex-
IRENE pressure from critics
who demand action to pump
more money into the economy
and thereby lower interest
rates.
Tomorrow: Quick "cures" for
tight money.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-11

months last year investigating
accusations that TV quiz shows
were rugged, with contestants
given answers in advance ard
instructions as to when to
take a dive" DR.. Hacker, a
professor Of economics at CO.
lumbia University. is spending
this semester as professor OF
history at Pennsylvania State
University.
DR.. Hacker said that Judge
Schweitzer had promised sew
eral times to issue a written
opinion on releasing the pre-
sentiment, but never did.
The professor said the
House subcommittee was TAX
ing the wrong tack by calling
contestants as witnesses and
holding them up to ridicule to
prove what people already
know: that the world is filled
with foolish and corruptible
people"
Intricate Pattern
"The real story" DR.. Hacker
said, was in the methods and
devices that were used in fixing
these shows. 1t was a very in
tricate pattern and it was done
without any detection.
THE grand jury mentioned
no names in its report. 1t con-
Icentrated on these methods and
devices to find a solution for
the TV industry to protect itself
through proper safeguards"
DR.. Hacker expressed the per-
Sonal opinion that the solution
was self-policing by the tele-
vision industry, as major league
baseball does.
The subcommittee, he said,
will probably come up with
Recommendations for Federal
Legislation - Legislation that
would bog down in the ma
Ichinery necessary to enforce
~ -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-11

| something TO be done without a
prolonged study"
He suggested that the FEC
should establish minimum
standards" that would networks
on guard against such pro-
grams.
Mr.. Doerfer said it would be
an easy matter TO act against
a network or station knowingly
rigging quiz shows. But he
pointed out that those involved
in the present scandals were
independent producers over
whom the FEC had no jurisdic-
ton.
Mr.. Doerfer said the FEC has
no authority to undertake to
control programs. But at an
other point he told the sub
committee that recently he in
tervened personally to have a
disc jockey removed from. the
air because of remarks he con-
sidered indecent.
Several members questioned
whether the FEC had pursued
complaints Of quiz show rig
ging with diligence. Mr.. Doer-
fer insisted the commission
had.
Complaint Doomed "Dotto"
The first complaint, involv-
ing the Dotto show, was re-
ceived July 81, 1858, Mr.. Door,
fer said. He added that the
matter was Immediately taken
up with the Columbia Broad
casting System and the pro-
gram was removed from the
air.
He said the commission also
directed inquiries to NBC when
q complaint was received re-
garding one Of its quiz shows
and was told that NBC had
been assured the charges were
false.
The show involved wa.
Twenty-One. The producer
Daniel Enright, has admitted
before the subcommittee that
the show was rugged.
Don't you think the public
interest would have been better
served If the commission hao
conducted a vigilant investiga-
tion?" asked Representative
Flynt, Democrat of Georgia
mo, I don't think So" Mr.
Doerfer insisted.
Representative Rogers and
others wanted to know why the
FEC had never asked Congress
for additional authority if II
lacked the power to act.
Don't you think the FEC
has an obligation to Congress
and the American people to
take every step possible to pre-
vent people being deceived?"
Mr.. Rogers asked.
For the commission to in
innate to the American people
it will deal with a matter be-
yond its power is just as deceit
full as what has been going
on" Mr.. Doerfer replied. citing
the constitutional barriers to
actions interfering with, free
speech.
At the conclusion of yester-
days session Mr.. Harris said the
subcommittee would meet again
tomorrow to hear representa-
tives of the Federal Trade
Commission and other wit
nesses.
Mr.. Enright has been or
dered to stand by. He may be
called again. Mr.. Harris said.
! He has testified in both open
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-10-11
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Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-05-10
By JAMES BIRCHFIELD
Star Staff Writer

A NEW type Of sailor Is being trained by
IN the Navy. Unlike the rough-and-ready
seaman of the old days Of sail, he may be
quiet and studiouS, and the chances are
he can handle a slide rule far better than
a cutlaSs.
AS member of a small corps of men
who are to represent the new Navy" he
will stand squarely between you and pos
sible enemy attack For he will be response
BILE for handling the new guided missiles
being developed to give additional striking
power to the United States fleets.
Seriously and quietly he goes about the
business Of learning his new trade as
student in the Nays Guided Missiles
School at Dam Neck, an installation that
Evening star. [volume] (Washington, D.C.) 1854-1972, 1959-05-10

lies hard by the Atlantic Ocean below
Virginia Beach, Va.
In most cases. he is high-school grad
uate who has been selected for missiles
training because of his demonstrated apti-
tudeS. He may come from any section Of
the country, and he may be as familiar to
you as the boy who lives down the street.
At Dam Neck he studies basic cleo
tronics then goes on to understand the
delicate nervous systems" that guide the
new missiles Later, on shipboard, it viii be
his duty to keep these new weapons ready
for instant use.
One of these boys Is Morrie Hansen,
52l2 Goddard road, Bethesda
Morrie grew up like many other boys
CONTINUED
Diario las Américas., 1959-01-31
GERMAN ARcINIEcAs
I'm BOGOTAzO EN- NUEVA YORK

Ell IS de julio de 1853 debia comenzarse
en- Nueva York ell e~nrolamiento de tropas pa
ra la guerra del sur, de acuerdo con ell decreto
dado por ell presidente Lincoln. La vispera,
corrio mas whisky en- las tabernas de 10 acos-
tumbrado. Sc habia jurado por los borrachos
levantarse contra la nueva ley. Los ricoS
no iban al e%jercito, porque pagando 300 do
lares quedaban eximidos. La guerra era pa.
"a liberar a los negros, y Ell pueblo de Nue.
va York odiaba a los negroS. Los negros
llegaban para d~esalojar a los trabajadores
blancos en- los muelles, y Sc habian produ.
cido cheques en- ell puerto. Cuando en- la off
Gina de reclutamiento Sc fue a comenzar ell
sorteo de los conscriptos, anunciandolo a
golpe de tambor, la muchedumbre invade ell
local, volaron ladrilloS, ~guijarros y bote.
Has, y en- un dos por tres no qued6 mueble
sano, nj vidrio %entero, nj maquina para ell
sorteo. A POGO, la ciudad estaba prendida.
Abandonaron los conductores los t~ranvias,
Sc formaron manifestations en- que las mu-
jeres vociferantes tomaban la iniciativa, los
bomberos Sc movilizaron contra los policias,
Sc formaron escuadrones de manifestantes
que con hachas tumbaban los postes del te-
legrafo, Sc destrozaban a piedra las vitri-
mas en- las tiendas desde la Gale IA hasta
la 30. La vispera habian provisto los azu-
zadores a los manifestantes de botellas de
liquido inflamable Eel Greek fire para
producer incendios. En- Broadway, entire la
% y 20, TODD quedo prendido en- llamas. Los
tranvias Sc ~volcaron v quedaron como hogue-
ras en- medic de la Gale. Sc arrancaron
los rieles del tren. Con ell saqueo de los ba-
res, la borrachera fue universal.
Lo primero, palo a los negros. La VS.
pera del levantamiento, a palos mataron tres
Diario las Américas., 1959-01-31
La E5CASEz De BRAzOS
lEditorioI Reprodueido per cortesiq de Eel Mundo

La situacion no es nueva en- Puerto Rico.
Aunque suene a paradoja, muchas wees
-aquf donde sobra la mano de obra y hay
desempleo-faltan brazos para trabajar en-
la agriculture. No hace mucho destacabamos,
con asombro, ell clamor de la IONA tabaca.
lera. Sc quejaban los tabacaleros de la i'm.
posibilidad de ~reclutar suficientes trabaiado-
res para la tarea de siembra y cosecha. En-
euanto la realidad cafetalera, eonocidas de
todos son las angustias de quienes producer
Ell precioso grano.
Ahora Ell problema una y otra vez reite-
RADIO en- esas zonas agricolas, Sc recrudece
en- Ell canaveral. Asoma la realidad de una
zafra esperanzadora. Hay grandes posibilida-
des de una production superior a la de amos
anteriores. Pero he aqui a la bora de buscar
mano de obra para picar cafas, surge la es+
casez de trabajadores, sobre TODD en- la IONA
oeste de la Isla.
Ante Ell grave problema, como es obvio,
los productores tratan de hallar soluciones
inmediatas. De no operarse con la urgencia
requerida ell pals perdera la oportunidad de
sacar ell maxine provecho de SUI production
azucarera. Por ESQ Sc ha planteado la ne
cesidad de traer picadores de cana de Haiti,
de las Bahamas de Jamaica.
Lo paradojico es que mientras Sc SUPRA
va la urgencia de traer trabajadores agrico-
las. de las vecinas islas porque aqui faltan
picadores de cana, no hace mucho sali6 una
excursion de puertorriquehos a ~realizar la
bores semejantes en- Santa Cruz.
En- zafras anteriores muchos colonies so
bre TODD pequenos colonos- Sc vieron for
zados a hacer ~riguroso turno para que un CRU
pc de trabajadores, que realizaba labores
en- distintas areas, cortara sus canas. Cuando
la brigada itinerante llegaba a determinados
Diario las Américas., 1959-01-31

o c~uatro, pero la autOridad no se alarTn6.
Era 10 corriente. Ademss, en- los muelles va
habia una guerra declarada. Los cargadores
provocaron una huelga. Pedian que Sc les
subiera ell salario a Is centavos la bora; pero
los capataces buscaron Ell modo de romper
la huelga aproVechando Ell trabajo de los ne
gros que Sc ofreeisn por NADIA. Fran pobres
f~ugitivoS del sur, que escondiendose en- es-
tablos y monies, llegaban a olvidar en- Nueva
York Ell latigo que era la lengua con que Sc
hablaba a los %esclavos. Los cargadores bur
lados promovieron tbatallas. Los capataces
eran gentes de los peores antecedentes, ase-
sinos que resultaban muy Electives para man
tener ell orden por ell terror. En- la ~revuelta,
a uno de ellos 10 tiraron al rio.
Entonces de este no hace Glen amos
Nueva York no llegaba en- rigor a la Gale AZ.
Donde hoy queda la Biblioteca P1blica era
ell tanque del acueducto. adonde Sc iba los
domingos en- son de paseo. Frente, quedaba
Ell hospieio para los negritos. Cast 300 vivian
ALI. La turba resolvi6 llegar al hospicio
para degollarlos. Con palos, hachas, piedras
y ladrillos ~forzaron la entrada. Ell director
Sc encaro a los asa1tantes. Pero era uno
contra mil. Tuvo que tranzar: que lie deja-
ran sacar a los ~negritos, y quemaran Ell hos
picio. Fue un milagro salvar a los negritos.
Los blancos enfurecidos saquearon primero,
y luego prendieron fuego. A los policfas gri-
taban los amotinados: iCarniceros de Lin
coin! Protectors de negroSl
Hubo una concentration en- Central Park.
y la Sexta Avenida. Donde hoy Sc allan las
estatuas de Bolivar y San Martin, y pronto
Sc alzara la de MART. ALA habl6 Williams,
uno de los promotores de la r~evuelta, e in
(COnCInua en- "a Pagina 81
Diario las Américas., 1959-01-31

sectores "a punto de cerrarse la zafra- la
cana resultaba "aguajanada' y, por consi-
%guiente, con poca sucrosa. Esto produjo la
bancarrota de muchos pequenos colonos.
No hay indicios de que haya ninguna
posibilidad de Gambia en- ese panorama de
escasez de brazos en- Ell ca1averal. Al contra
rio, Sc acusan sintomas negatives y TODD ten
de a ~resaltar que empeorara Ell problema
con ell tempo.
En- contraste con csc cuadro de escasez de
brazos en- la iona camera, hay fuefte oposi-
ci6n a que Sc mecanice nuestra industrial
basica. En- consequences la principal indus
tria del pals encara una grave crisis.
Ell Departamento de Agriculture y Co
mercio viene en- la obligation de tomar car
tas en- ell asunto. No bastan frases mas o
menos inspiradas. 10 que falta. es acci6n.
Hechos, nc palabras.
Sc habl6 una vez de enriquecer ell pals
con la Investigation de la agriculture. Sin
embargo, cuando comenzo a acometerse la di-
ffcil tarea 10 que Sc hizo fue cast contrapro-
ducente. Sc pretendio la diversificacion a
costa de la cana de azdcar. No hablamos a
hume de pajas. De clio hay elocuente tes-
timonio en- periodicos y en- multiples docu-
mentos que quedan para la historic de la agri-
eultura puertorriquena.
FL Gobernador ha senalado que para 1878
la meta de nuestra agriculture debe ser una
production total que represente $500, 0O0, 900.
En- la actualidad solo alcanza a $160, loo 900,
10 que prueba hasta que punto tendra que
acelerarse su ritmo. En- la perspective no
Sc advierte, por ninguna parte, un ritmo de
production agricola capaz de concretar la
meta reiterada por ell Gobernador.
Para Ell logro de ese objective de $780,
de production agricola Sc precisa I'm vasto
(Pasa a Ia Pag. 81
Diario las Américas., 1959-01-31
Ell PREsIDENTE FRONDIZI
EN- MIAMI

Como es sabido, en- la nOche del viernes
lego a esta ciudad, a~cOmpanadO de su distln-
kuida espOsa Y de una selecta comitiva integra-
la por altos persOnajes de SUI Patria, ell doctor
Arturo FrOndizi, Presidente de la Republica
argentina v figura sObresaliente de la demo-
kracia continental.
Ell DIR. Frondizi esta pOniendO fin a una
rascendental vista Official hecha a los Esta-
hos .UnidOs de America, despues de interesante
&ecOrridO pOr varias de las grandeS cludades
he este pals. TantO en- la Casa Blanca como
IN todos los lugares d0nde la vOz de FrOndlzl
sla sido Ofda, ell demOcraticO Presidente argen-
limo ha deiadO una magnifica impression como
kstadista Y como persona interesada en- la con-
fraternidad americana sObre bases de sincere
RntendimientO, de l0gica cooperation y de de-
kOrOso trato reciprocO entire tOdOs los pueblOs
\ gobiernos que forman parte del sistema in
#eramericanO.
La alta jerarquia republican, del DR.. From
*HiZi ha sidO I'm factor determinante en- la tras-
kendencia de SUI vista a los EstadOS UnldOs,
Isl como tambien 10 ha sidO ell hechO de que
argentina es una Naci6n de gran impOrtancia
kn-America Y en- ell mundO. Sin embargo, es
buenO poner enfasis en- ell p~restigiO democratic
10 del iIustre visitante, pues va en- los EstadOs
kJnidOs esta entendiendOse que los gObernan-
les de estirpe republican,, cuyO mandate ema-
ha de la vQluntad popular y cuya cOnducta Sc
Rjusta a los principles democraticos, merecen
Iln trato de especial amistad, porque gObernan-
les de esa cIase son los que albanian en- ell He
'~nisferio los valores de la sOlidaridad continent
tai y de las libertades publicas.
@@DIARIO LAS AMERICAS saluda respe-
uosamente al esclarecido estadista argentine,
SUI distinguish sonora y a los miembrOs de SUI
brestigiosa comitiva, y les desea una grata per-
.hanencia en- Miami y I'm feliz retorno a la
Patria.
Diario las Américas., 1959-01-31
PRESIDENT FRoNDIzI VISITS MIAMI

ssAs is known, Friday night arrived in this city,
accompanied by his wife and a select group of person
RiieS of his country, Doctor Arturo FrOndizi, President
the Republic of Argentina and a prominent figure
pf continental democracy.
DIR. Frondizi closes here an important State visit
70 the United States of America, after an interesting
|ouF. through various large cities of this country. Both
ktathe White House and in all other places where
F%r0ndizis word was heard, the democratic Argentine
Chiefs Executive left a magnificent impression as a
ktatesman and as a person interested in American
f0nfraternity on bases of sincere understanding, of
logical cooperation and of decOrOuS mutual c%onsidera-
|i0a ameng all nations and governments that make up
The crane system.
s@@Dr. Fr0ndiZi's high republican quality has been a
FactOr determining the transcendence of his visit to the
Emitted States, as it has also been the fact that Argentina
Is a mighty important nation in America and in the
EQrfd. However, it is good to place emphasis on the
prestige of the illustriOus visitor, because
|nAthe United States it is understood that the Chiefs of
State of republican origin, whose power emanates from
peoples will and whose conduct adhereS to the
Democratic principles, deserve special friendly treat.
heht, because their kind give strength in the Henri
Sphere to the values of continental solidarity and of
The public freedoms.
DIARIO LAS AMERICAS respectfully salutes the
bright Argentine statesman, his distinguished wife and
HE outstanding members of his %retinue, and wishes
them an enjoyable stay in Miami and a happy return to
their homeland.
- L GM EL
Diario las Américas., 1959-01-31
COOPERATION PoR LA DEMocRAcIA

NOON GhAtAOIN LA DEShOOhhNAA
Agradeciendole muy sinceramente 10 mu-
cho que ha cooperate SUI digno y ~valiente
diario a la liberation de Cuba; ruego a I'd.
la publication de la siguiente; pues a mi en-
tender no hay razon para que en- dos pueblos
hermanados como E,E. U.U. y Cuba Sc este
sembrando en- la mente de los ciudadanos de
ambos paises la inquina sin razon.
Soy individuo que no gusta hacer apre-
c~iaciones a priori; por 10 cual cuando lei en-
los diarios americanos que Castro estaba apli-
cando en- Cuba la "~justicia de purga comu-
nista'' pense que con la censura ferrea a la
que tenian sometida la prensa en- mi pals,
estos periodistas no habian podido informar-
Sc de la barbarie que estaban cometiendo en-
Cuba los bribones del marzato. .Pero ahora,
que inclusive han presenciado %juicios revo-
lucionarios con pruebas irrefutables, como en-
ell case especifico de Sosa Blanco, en- ell cual
Sc We la mezcla de candidate, crimenes, vio-
~laciones de csc carnicero, que mueve a asco.
les possible, que estos senores de la prem
sa norteamericana, todayia no lie hayan abier-
to un credito de honor al gran lider y liber-
tador de Cuba, paladin de la libertad hispa-
noamericana DR.. Fidel Castro Ruiz? SPor que
empecinarse en- seguir enganando la opinion
del noble pueblo norteamericano con err6-
meas interpretaciones sobre la liberation de
Cuba? iPor que tratar de aislar dos pueblos
hermanos que en- sus corazones siempre es-
t~uvieron unidos?.. como 10 prueba Ell hecho
de que muchos norteamericanos ayudaron
desinteresadamente la causa patria.
Ellos tienen como guia la prensa en-
sus d~istintos medios de propalacion, Ia
cual no dice la verdad, aunque naturalmen-
te hay sus excepciones como la del gran pc
riodista del New York Times.