European Stars and Stripes (Newspaper) - July 4, 1959, Darmstadt, Hesse                                The stars and stripes saturday july 4, 1959 pensioners caught in inflation spiral jew f debt limit hike shrinks Dollar further Washington up president Eisenhower scratched pen to paper and Presto the Dollar in your pocket was deflated a Little More. By his signature the president hiked the top limit of the National debt to $295 billion. After one year the limit will fall Back to $285 Bil lion. Neither weight nor dimension of the Dollar will shrink but its Pur chasing Power will in terms of Beans biscuits butter shoes and other necessities. C u r r e n c y inflation has been troubling the purchaser during the past 30 years. 9.1 cents lost in 42 one of the worst years was 1942, when the Dollar shrank 9.1 cents according to estimates of the Senate finance committe. There was a 9-cent shrinkage in 1947 and 4.4 cents melted away in 1948. Only a half cent or less was lost in each of the following years. The committee has estimated. The committee s figures show that from an arbitrary valuation of 100 cents in 1939, the Dollar has 4 tul sans killed in plane crash Springfield to. A the president and vice president of a Tulsa Oil firm and two other tul sans were killed in the crash of a twin engine plane. An 11-year old boy was injured critically. Killed were David a. Garrick 48, owner of the plane William g. Wood 44, the Pilot Edward f. Rogers 30, and Harry j. Richey 31. Garrick s son suffered multiple fractures of both legs and arms severe head lacerations and pos sible internal injuries. He was to undergo surgery. Garrick was president of two Tulsa firms Cherokee labs an Oil concern and Cherokee steel inc. Just a few Days ago he was named chairman of the Republican party in Tulsa. Shrunk to 48 cents. A $10 Bill now is Worth less than $5 in terms of 1939 currency. If the trend of the last 20 years continues during the next two decades the purchaser will be forced to use a 25-cent Dollar. The persons hit hardest by the inflation spiral Are those on fixed incomes pensioners social secur Ity patrons and those living on insurance plans. Others also will feel the effects of a continued inflation. Tax foundation inc., of new York has calculated the effect Over the years of currency inflation and High taxes on employed persons. The foundation used a married couple with two children for its study. What the couple must earn merely to break even in 1959, is shown in the following Chart in re lation to their 1942 income 1942 income 1959 equivalent $2,000 $3,743 $3,000 $5,613 $5,000 $9,233 $10,000 $18,190 the increase required to break even ranges from 82 to 87 per cent. This is a fair measure of what High taxes and rubbery Money do to the working Man his wife and his children. . Governors on russian tour nine american governors were told in Kiev capital of the Ukraine Russia s breadbasket that american experience in growing Corn had helped the Ukraine to improve animal Breeding. Premier Kifor Halchenko also told the governors headed by Florida s Leroy Collins chairman of the National governors conference lie had met Gens Omar Bradley and Mark Clark during world War ii when to himself was a general. In Moscow above the governors visited the soviet Union s atomic research Institute where a soviet scientist Center Points out an atom smasher. Ufi photo House group opening quiz to Spur safer cars by North american newspaper Alliance Washington american Auto Mobile manufacturers can Brace themselves for a rough time out of the nation s capital this month. Chairman Kenneth Roberts d Ala of the House health and safety subcommittee will open three Days of hearings on tuesday with the avowed aim of spurring the car makers to turn out safer automobiles. The usually mild mannered Roberts is irked at what he regards As foot dragging by 5341 Darm Stadt c 75366 ext 61 Frankfurt c 87647 Kaiserslautern c ? / Mannheim a 1c 86402, Munich c 65923 Nurnberg c 73456 Stuttgart c 84225, Wiesbaden c 74544 Wuerzburg c 73493 North Africa Morocco Casablanca 52910 Libya Tripoli 8143 Greece Athens c 99-749 Isu � w ,-,.,