"Not Yet"
I
Sixty-Eighth Year
EDITED AND MANAGED BY STUDENTS OF THE UNIVERSITY OF MICHIGAN
UNDER AUTHORITY OF BOARD IN CONTROL OF STUDENT PUBLICATIONS
STUDENT PUBLICATIONS BLDG. * ANN ARBOR, MICH. * Phone NO 2-3241
Mhen-Opinions Are Free
Truth Will Prevail"
' 0 pE
ELFC
Editorials printed in The Michigan Daily express the individual opinions of staff writers
or the editors. This must be noted in all reprints.
THURSDAY, FEBRUARY 27, 1958 NIGHT EDITOR: DAVID TARR
fM 1
.!
\p
AT LYDIA MENDELSSOHN:
Zet, Dutcher Shine
In 'Masked Ball'
VERDI'S OPERA. "A Masked Ball," though it is not one of his best,
is still filled with the tuneful melodies and stirring ensemble that
made Verdi the master of his medium. The School of Music-speech de-
partment production, playing at the Lydia Mendelssohn Theatre through
Saturday, does justice to both the musical and dramatic content of the
opera.
In this presentation, the story has been transported back to its
original Swedish locale, and it suffices to say that the focal point of the
opera is the assassination of the king, Gustav III.
Jerry Langenkamp as the king bears the lion's share of the work.
Undergraduate Library
Symbol of University Spirit-
LAST FRIDAY the University dedicated a
monument; which President Hatcher called
"the symbol of unity of all knowledge and in-
separability of God from his mysterious uni-
verse."
The University now has the biggest and best
separate Undergraduate Library in the world.
Physically, the structure of the imposing build-
ing is monumental in itself. Its striking con-
temporary architecture and unusual interior
decor give the building an air of pleasantness,
an atmosphere designed to carry over into the
area of studyirg.
Music from the 1,400 records played on the
72 turntables in the Audio-listening Room and
the special films and projection equipment- in
the Film Preview Room add their part to the
library's uniqueness.
Freedom to smoke through most of, the build-
ing, one of the features most popular with the
students, makes the atmosphere much more
comfortable and home-like, as do the group
study rooms, serving .students with discussion
assignments, the typing rooms in which type-
writers can be rented for a very small fee and
the public telephones and lounge areas on the
north section of every floor.
Every facility in the building has been plan-
ned for the maximum in use and convenience
without neglecting esthetic appeal for practical
value. From the Art Museum's exhibition area
in the lobby near the main entrance, to the
study hall displaying examples of fine . arts,
beauty in design has been considered equal in
importance to practicality and usefulness.
This combinatilon, carried forth in the
library's unique multi-purpose room and special
Underclass Hnors Lounge, creates the impres-
siveness of the physical structure. Physically,
the library is a beautiful and practical monu-
ment to the University.
UT THE NEW LIBRARY is more than a
good-looking, modern building. It is an
achievement in the field of education. It is a
monument to the spirit of the University-that
intdngible, all-pervasive spirit that calls alumni
back on Homecoming, that mysterious force
that hallows the "M" on the diagonal.
The new Undergraduate Library is a concrete
and steel incarnation.of the University spirit.
It was this spirit moving with President Hat-
cher and Vice-Presidents Pierpont and Niehuss
in Lansing over four years ago that led to the
first idea of a separate Undergraduate Library.
Giving their approval to President,Hatcher's
plans, the Board of Regents was also caught
up in the current, the same stream that swept
on to the state Legislature and the appropria-
tion of the $3 million in necessary funds.
Still the spirit grew in strength. Inculcating
itself into a special planning commission led by
Frederick H. Wagman, direct'or of University
Libraries, it rushed along, gaining impetus
with each/advance.
IT WAS THIS University spirit that motivated
Rolland G. Stewart to devote three years to
the selection of the finest books available, this
same force that hurried the University Plant
Department in its mid-semester transfer of
books from divisional libraries.
But the spirit didn't end with the completed
construction of the building. It is still very
much alive and active today in the library staff.
Roberta C. Keniston, director of the Under-
graduate Library, working with the reference
librarians and the part-time undergraduate
staff, is a symbol of the library spirit in its
essence.'
It was this same University spirit that
prompted Maynard Goldman to express at the
dedication ceremony "the deep debt of grati-
tude of the student body to those who gave us
the new Undergraduate Library."
It is this same spirit that draws an average
of 6,000 students to the building each day; the
same force that has made the new library the
intellectual center of the campus.
Last Friday did, indeed, mark the dedication
of a monument--a monument to the spirit of
the University of Michigan.
-JEAN HARTWIG
A1Ark
w=KMpo I_
-4'7--' #
r ,
R .
FY '
f 1
r= , (
'
; -" ~
40
4 p
-' w-
.'
.s_ o
-4A-e7 r'g'-Oe r-
WASHINGTON MERRY-GO-ROUND
Bennington Plan Discussed
UNIVERSITY Vice-President William Stirton's
recent comments on the perennial problem
of increasing operating expenses deserves some
reconsideration in light of a new plan pro-
posed by Bennington College in Vermont. Vice-
President Stirton said he saw "no merit, even
monetary" in raising University tuition fees. A
tuition increase, he explained, would probably
keep enough students from attending school to
offset any rise in funds expected from a higher
rate.
Bennington, a small college of 340 students,
recently proposed that tuition fees be adjusted
to the individual family's financial resources.
Tuition fees would be raised .to $1,600-a $400
increase-and arrangements would be made to
scale .the tuition to conform with family re-
sources much'in the same manner that scholar-
ships are granted. The Bennington plan would
also include a stipulation whereby students,
could pay the charges on a monthly basis or
the reduced cost could be spread beyond the
four college years without interest until he
graduates.
On paper, the Bennington plan represents
a substantial achievement in the never-ending
fight against rising higher education costs and
the ever-widening gap between costs and tui-
tion. If worked out'carefully so that a proper
balance could be maintained between the num-
ber of students paying a graduated tuition fee
and the students paying the full amount, the
plan would seem an ideal answer to Vice-
President Stirton's anxiety of pricing students
of low income families out of the University.
But, unfortunately, the problems underlying
such a progran would probably make it in-
applicable to a large university. The adminis-
tration problem accompanying the Bennington
plan would, it seems, be too complex for Uni-
versities the size of Michigan. At a small college
the size of Bennington, there is usually a fair
amount of contact between college officials
and the parents of the students. This contact
would facilitate the college's knowledge of what
students would merit tuition fee reductions.
Editorial Staff
PETER ECKSTEIN, Editor
JAMES ELSMAN, JR. VERNON NAHRGANG
Editorial Director City Editor
DONNA HANSON ............... Personnel Director
CAROL PRINS ............Magazine Editor
EDWARD GERULDSEN . Associate Editorial Director
WILLIAM HANEY ............. Features Editor
ROSE PERLBERG .............Activities/ Editor
JAMES BAAD ....................Sports Editor
BRUCE BENNETT ............ Associate Sports Editor
JOHN HILLYER......Associate Sports Editor
DIANE FRASER ..Assoc. Activities Editor
THOMAS BLUES ......... Assoc. Personnel Director
BRUCE BAILEY .................Chief Photographer
Business Staff
The large university usually does not have the
close contact and would therefore have to rely
on either the parents and students for the
necessary financial information or a specialized
committee to determine the family's ability
to pay.
ALSO, IT WOULD be difficult to maintain
the proper balance between tuition fees
and operating expenses. The number of stu-
dents attending the university could and prob-
ably would vary from semester to semester.
This of course would necessitate either an
increase in the standard tuition or a reduction
of the operating expenses for that semester.
The University, being a state supported insti-
tution, could probably fall back on additional
grants from the legislature. But it is doubtful
legislators would relish the thought of having
such a haphazard budget request each year.
The philosophy behind the Bennington plan
deserves consideration. University President
Hatcher recently noted that state education
was based on the public obligation to educate
each citizen to the limit of his ability. In light
of President Hatcher's comment that approxi-
mately 40 per cent of qualified high school stu-
dents are presently excluded from higher edu-
cation because of its rapidly increasing cost, the
Bennington plan would seem a solution or, if
not, a method of alleviating the education
problem.
The Bennington plan does not accept the
premise tha education is the public's obliga-
tion. Rather, it infers that education is the
responsibility of those who can afford to
attend college regardless of the tuition expense.
The Bennington plan places the public's obli-
gation on the shoulders of the wealthy student.
In reality, the student who is paying the full
tuition fee is subsidizing the student who is
paying according to his means. This philosophy
is in direct opposition to Michigan's education
policy. In effect, Michigan's policy relieves the1
citizen of one of his primary obligations-edu-
cation of his fellow citizen.
-BARTON H HWAITE
What's Left
In a Landmark
ARTHUR LARSON, films of the Moscow
Youth festival or even the Undergraduate
Library can't compete this week with a larger
drawing card-the wrecking of the Romance
Languages Building.
Brick by brick and beam by beam the Uni-
versity landmark is being dismantled-so gently
that the working crew almost seems aware of
the tradition residing in the very bricks..
Perhaps because the University is budget-
conscious, it has asked that nothing go to
waste. Doors, radiators, etc. have been saved.
Even the aged bricks will likely make some
rustic fireplaces.
Ha
WASHINGTON - Ex-President
Truman, holding old home
week with friends in Washington,
told about his protocol problems
when he dedicated his library in
Missouri.
"I had the ex-President of the
United States, Mr. Hoover, as my
guest," he explained. "Is'also had
the Speaker of the House of Rep-
resentatives,' the Majority; Leader
of the Senate, the Minority Lead-
er of the House.
"And I didn't know what prece-
dence to. give them or how to
handle them. So I wrote Mrs.
Helm and asked what I should
do."
He referred to Mrs. Edith Helm,
Social Secretary and arbiter of
the White House during the Tru-
man Administration.
"What do you suppose she wrote.
back to me?" continued Mr. Tru-
man. "She said, 'You never paid
any attention to protocol while
you were President, 'why should
you worry about it now?"
* * *
YOU CAN never tell when a
good deed is going to come home
to roost; or so Dr. Haim Sheba,
famed Israel medical expert,
found when he visited New, York
the other day.
Dr. Sheba, director of the Tel
Hashomer hospital in Tel Aviv,
has been working on some fascin-
ating blood history which goes
back to the lost tribes of Israel.
When he asked funds from the
-Rockefeller Foundation to help his
research, they asked him to talk
to Dr. Ruggero Ceppelini. The
learned Israeli doctor thought he
rry's Protocol Problem
By, DREW PEARSON%
was getting the run-around, but
shortly thereafter Dr. Ceppelini,
a young and stocky Italian,
bounced into his hotel room.
"Don't you remember me?" he
asked.
Dr. Sheba admitted he didn't.
"I was your prisoner," said Dr.
Ceppelini. "I was your prisoner of
war. I was in the Italian Army
during the war, taken prisoner by
the British and sent to Palestine,
where I served under you. I was
a sergeant and you placed me in
charge of one of your laboratories.
I will never forget your kindness
to me and to all the other Italian
prisoners."
Since the war, Dr. Ceppelini has
progressed from a sergeant and
a prisoner to being one of the
foremost doctors of Italy. Like Dr.
Sheba, he is a blood specialist, and
was greatly interested in Dr. She-
ba's plan to further search the
blood traits of the Mediterranean,
The ex-war prisoner and his for-
mer captor will research together.
* * *
MEMBERS of the Ways and
Means Committee, trying to figure
out what to do about cutting
taxes, pricked up their ears as
Paul Ziffren, Los Angeles Demo-
cratic National Committeeman,
told them:
"The only people who pay the
full tax rate today are the con-
scientious or powerless.
Ziffren contended that execu-
tives who receive regular salaries
and workers who are paid regular
wages are subsidizing the Texas
oilmen.
"The idea that we have a pro-
gressive rate of taxation is only
a facade," Ziffren told them.
"Though our tax bracket goes way
'up, actually, the effective tax rate
averages only 28 per cent. This is
because those in the upper brack-
ets can avoid taxes through capi-
tal gains, through depletion al-
lowances, and through state and
local bond issues which are tax
free.
Even for those who make a mil-
lion dollars or more per year, the
average tax collection is only 50
per cent instead of around 90 per
cent as it should be.
"In 1956," continued Ziffren,
"the personal income of the
United States was $325 billion.
But the total tax collected on that
was $3212 billion - as a result of
the loopholes in our tax laws."
* * *
ZIFFREN advocated a biparti-
san committee to study taxes and
produce equality in taxation. Con-
gressmen Eberharter of .Pennsyl-
vania, Mills of Arkansas, and
King of California, Democrats,
seemed to like the idea. Congress-
man Reed, Republican of New
York, author of the present tax
bill which provides the loopholes,
sat stolidly, said nothing.
President Eisenhower was bev-
erage-neutral during his bridge-
-playing marathon in Georgia. His
partners were Ellis Slater, former
head of Frankfort Distillers, a
whisky man ,and William E. Rob-
inson, head of Coca-Cola, a soft-
drink man.
(Copyright 1958 by Bell Syndicate, Inc.)
both musically and dramatically. A
poised. Although his voice is'
characterized by a reedy breathi-
ness at times, It is strong and true
to pitch. He is at his best vocally
in his last scene, when the re-
morseful king decides to return his
lover to her husband.
Janet Ast is a very amiable
Oscar. She brings to the part a
pleasantly heavier - than - usual
lyric-coloratura voice. Her char-
acterization is charming through-
out.
.* * *
IRENE KUNST as Amelia,
Countess Ankerstrom, is lovely
looking, but I felt that her char-
acterization was too nice and
lacked the sense of tragedy and
urgency that the role demands.
Her best singing is in Act III when
she pleads with her husband for
her life. Her voice is somewhat
reminiscent of "La Callas" in its
rather piercing quality and ten-
dency to shrillness on top.
To her, unfortunately, are given
some of the more choice transla-
tions, which render ineffective
some of the moredtouching mo-
ments of the love duet in Act I,
Alice Dutcher as' Ulrica, though
she appears only in the second
scene of Act I, captures the female
honors. Her voice gets bigger, rich-
er and warmer with every new
witch's role.
* * *
JACK ZEI'S presence as Count
Ankerstrom was to me the revela-
tion of the evening. This voice
is rich, round, strong, powerful,
and mahogany-colored. Whenever
he appears, he completely domi-
nates, in both acting and singing.
The Count's vengeance aria (Act
IuI, scene 1, is to this opera what
"Vedro mentr'io sospire" is to .
"Figaro." This aria displays Zei's
firm top and bottom voice and
impressive dynamic range. f
James Berg and Willis Patter-
son as the Counts Ribbing and
Horn are convincing conspirators.
At times these roles take on the
commentary function of the cho-
rus in Greek antiquity.
To Prof. Blatt and the orchestra
belong no little credit for the over-
all success of the opera, The over-
ture and entre-acts were marked
by the absence of orchestral dis-
cord, which has been a plague
for lo these many years.
* * *
THE BRASSES and woodwinds
were especially outstanding at the
orchestral, close of Act I and the
beginning of Act II. In Act III,
scene 1, Robert Ritsema plays a
very able cello obbligato that per-
meates the whole scene. In the
'masked ball'' scene the use of
the three orchestral groups was
most effective.
Ralph Duckwall's use of vivid
blues in the sets is very striking,
while the noose outlines against
the blue sky in the "gallows hill"
scene is quite remarkable for its
impact.
The costumes designed by Mar-
jorie Smith are quite elegant
throughout (except for the urchins
in the witches hut), while the last
scene is the ultimate word in
elaborate period costuming.
-Allegra Branson
The Daily Offical Bulletin Us an
official publication of the Univer-
sity of. Michigan for which the
Michigan Daily assumes no editori-
al responsibility. Notices should be
sent in TYPEWRITTEN form to
Room 3519 Administration Build-
ihg, before 2 p.m. the day preceding
publication. Notices for Sunday
Daily due at 2:00 p.m. Friday.
THURSDAY,LFEBRUARY 27, 1958
VOL. LXVIII, NO 104-
General Notices
Graduate Students expecting to re-
ceive the master's degree In June, 1958,
must file a diploma application with
the Recorder of the Graduate School
by Fri., Feb. 28. A student will not be
recommended for a degree unless he
has filed formal application in the of-
fice of the Graduate School.
Martha Cook Building Is receiving ap-
plications for September 1958. Fresh-
men and Sophomore women may apply.
Please telephone NO 2-3225 weekdays
between 8:00 a.m. and 4:00 p.m. for
appointment. All applications are du
March 10, 1958.
Students who are enrolled in the
University under Public Law 550 (Korea
G.I. Bill) or Public Law 634 (Orphan's
Bill) must bring tuition receipt for
the Spring Semester to the Office of
Veteran's Affairs, 555 Administration
Building, before 3:00 p.m. Thursday,
February 27, if they have not already
done so
All students who expect education and
training allowance under Public Law 550
(Korea G.I. Bill) or Public Law 634 (Or-
phans' Bill) must get Instructors' signa
tures at last class meetings in February
on Dean's Monthy Certification form
and turn the completed form in to
Dean's office by 5:00 p.m. Mon.,March
Late Permission: for all women stu-
dents who attended the Obernkirchen
Children's Choir Concert, Tues., even-
ing, Feb. 25 was 11:10 p.m.
The following student sponsored so.
cial events are approved for the coa
ing weekend. Social chairmen are re-
minded that requests for approval for
social events are due in the Office of-
Student Affairs not later than 12 noon
on the Tuesday prior to the event.
February 28, 1958
Anderson, Cooley, Delta Theta Ph,
Graduate Student Council,-Interna-
tional Student Association, Taylor.
March 1, 1958-
Alhpa Epsilon Pi, Alpha Sigma Phi,
Alpha Tau Omega, Alpha Delta Phi,
Beta Theta Phi, Chicago, Chi Phi, Ch
Psi, Delta Chi, Delta Phi Epsilon, Delta
Sigma Delta, Delta Tau Delta, Delta
Theta Phi, Evans Scholars, Gomberg
Kelsey, Lambda Chi Alpha, ,Martha
Cook, Michigan Christian Fellowship,
Nu Sigma Nu, Phi Chi, Phi Delta Epsi-
lon, Phi Delta Theta, Phi Epsilon PI,
Phi Gamma Delta, Phi Kappa Psi, Phi
Kappa Sigma, Phi Kappa Tau, Phi Sig-
ma Delta, Sigma Alpha Epsilon, sig.
ma Chi, Sigma Nu, Sigma Phi Epsilon,
Les Voyageurs, Tau Kappa Epsilon,
Strauss, Triangle, Tau Delta Phi, Theta
Chi, Sigma Alpha Mu, Phi Rho Sigma.
March 2, 1958
Delta Theta Phi.
Lectures
Zweit Lecture. "Stochastic Problems
in Mathematics and Physics," Mark
Kac, Prof. of Mathematics, Cornell Un-
versity, 4:00 p.m. today. Room 3011 An-
gell Hall.
Gregory Pincus, M. S., S. D. Tufts
Medical College, Boston,- Mass., and
worcester Foundation for Experimental
Biology, Worcester, Mass., will give an
illustrated lecture on "The Biological
Effects of Progestatonal Hormones."
4:15 p.m., Feb. 27, Rackham Amphi-
theatre. Presented by the Department
of Anatomy and the Medical School.
Public is invited.
Political Science Graduate Roundtable
meeting on Thurs., Feb. 27, at 8:00 p.m.
in the Rackham Assembly Hall. The
speaker will be Professor Benjamin E.
Lippincott of the University of Minne-
sota. His topic will be "Democracy's
Internal Dilemma."
"Are Sex Taboos Implicit in our cul-
ture?" will be the subject of the dis-
cussion led by Paul Eberts at the Office
of Religious Affairs' Coffee Hour 4:15
p.m., Fri., Feb. 28, Lane Hall.
Hawaii, the second in a series of five
Burton Holmes Travelogues will be giv.
en tonight at 8:30 In Hill Auditorium.
Filmed and narrated by Thayer Soule
this natural color motion picture is
sponsored by the University Oratorical
Association. Other events, each on
Thursday evenings are The Great
Northwest: Ireland: and Alaska. Tick-
ets on sale at the box office.
University Lecture: Dr. Paul KaupM'
of the University of Michigan Law
School, will speak on the subject "Law
and Public Opinion" as it relates to
Reiinandh tt Unvrsy, a
4:15 p.m., Thurs., Feb. 27, Aud. A, An-
gell Hall. Auspices the Office of Rel.-
gious Affairs and the L.S.&A. FaculO
Committee on Studies in Religion.
"Law and Public Opinion" as it re-
lates to what the Law will allow in mat-
ters of Religion and the State Univer-
sity will be discussed informally with
Dr. Paul Kauper, U of M Law School, at
7:45 p.m. Thurs., Feb. 27, West Confer-
ence Room, Rackham Bldg. Refresh-
ments will be served. Sponsored by the
Office of Religious Affairs.
Astrono mical t'Mloauiium Fri.. Feb.~
F
'N
usual, he is ever dependable and
DAILY
OFFICIAL
BULLETIEN
k
AMERIKANER AM BETTELSTAB:
Massenarbeitslosigkelt und Elend in Den U.S.A.
LA
(EDITOR'S NOTE: The following
article is a reprint, in literal transla-
tion, of an article which appeared
February 15 in "Neues Deutschland"
("New Germany"), the leading Com-
munist Party organ in East Germany.
It was translated) by Erhard Lipp-
mann, Grad., an exchange student
from Germany. Lippmann cited this
as only one of many such articles
which appear constantly in the Com-
munist press, and commented, "It is
amazing how the Communists at-
tempt to appear very objective by
using the phraseology of Western
economic concepts.
"We in America of course laugh
at these stories, but if you do not
know anything of the real American
way of life, if you are constantly ex-
posed - day by day -- to such propa-
ganda, it is no wonder that an en-
tirely distorted picture about the
'capitalistic society' is produced."
The translation of theheadline is:
Americans Go Begging: Mass Unem-
ployment and Misery in the U.S.A.)
A U all Americans know
nothing about capital owner-
ship, stock exchange rates, and
dividends; indeed, the "American
way of life" has thrown millions
of them out of work and made
them live by begging.
In the towns of America you
see the following picture: thous-
ands upon thousands crowd at the
local public relief offices. "Bread
lines" is the American expression,
which means queues of people
who line up for a piece of bread.
It may also be soup from a large
kettle or a paper bag with mac-
up for discussion in .the American
Senate,'
So last week, for example, Sen-
ator Gore from the state of Ten-
nessee gets up to declare that "110
per.cent of the population of the
county of Shelby, Tennessee, line
up for food-stuffs at the emergen-
cy distribution offices." ("New
York Times," February 7).
It has taken a long time before
this senator has found it worth-
while to mention the misery of
his voters. Only fragments of his
detailed arguments have been
published by the American capi-
talists' press. They could not hush
up the daily scenes displayed in
innumerable American munici-
palities,
* * *
AFTER several days had al-
ready passed, the "New York
Times" of February 9 printed an-
other part of the speech of the
same senator: "There are people
. . . who close their, eyes, pretend
to be deaf, and show a cold heart
. . . toward the millions of un-
employed and the still greater
number of short-time workers."
One cannot expect from a bour-
geois senator that he tell the
names and addresses, namely the
names of the American multi-
billionaires who suffocate from
richness and whose insatiable ra-
pacity pushes millions of Ameri-
of the allegedly built-in "stabiliz-
ers" of American capitalism. The
unemployment relief has been
designated as one of these "sta-
bilizers," which in times of crises
are supposed to prevent the rapid
'decline of purchasing power. This,
however, is a statement which
was made by Senator Kennedy to
this problem:
"We canot prevent a serious re-
cession through measures which
compensate less than 20 per cent
of wage losses, and in hard-hit
areas less than 10 per cent of the
wage losses." ("New York Times,
February 9).
In other words: the unemploy-
ment compensation a m o u n ts,
macroeconomically speaking, to
only a fifth of the lost purchasing
power. This average breaks down
to only a tenth when the number
of the laid-off goes on increasing.
The duration of the relief pay-
ments varies in the different
states. At best it runs up to 26
weeks. Afterwards, only public
mercy remains.
* * *
IN THE OFFICIAL business
cycle prognoses, which time and
again prophecy the soon-to-come
upturn, the problem of the pur-
chasing power already lost has
willfully been passed over in si-
lence. The figure of the unem-
ployed persons amounts to at
Like their precedents, the cur-
rent economic crisis in the U.S.A.
has been caused by the inherent
contradiction between an increas-
ing production on one hand, and
-on the other-the always close-
ly limited effective demand of the
working masses in a capitalistic
society. The course of the crisis
is aggravating this contradiction.
These are the words of the "Chris-
tian Science Monitor" of Jan. 22:
"To the thinking of almost ev-
erybody, the critical moment has
come now. An economic decline is
nourishing itself if it does not give
way to an opposite development."
Up to now the government in
Washington still reacts with dis-
proved assurances that summer
or autumn will bring an upswing
in business. However, not har-
monizing with these statements
are the utterances of the chair-
man of the Federal Reserve Board,
Martin,. who quotes the opinion
of economic experts "that the
economic decline may be of last-
ing character because its main
causes are to be sought in a de-
crease of capital investments."
*, * *
"THIS FEAR" - Martin de-
clares - "could prove well-found-
ed, but one should consider that
the appearance of a surplus of
production capacity is .never
stronger than in the midst nf fa
. I
,t .