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MASSENA OBB^B^EB.MAg^HAj, HE^TYORK, Method to • • • • - ' * ' • Halt Inflation By REGINALD F. TORREY Washington —(GNS)— Two of the government's largest financial Set-ups cannot get together on methods to control inflation. They are the Treasury Depart- ment and the Federal Reserve Sys- life- •* Approaches of the two groups, which control billions of the na- tion's finances, vary so widely that attempts to line them up in a com- mon program to stem inflation so far have failed. Conferences with government groups are being staged almost daily $>$ banking and investment groups. * The Treasury Department be- lieves 'the answer is in cutting federal expenditures, balancing the budget, and reducing the national debt. Federal reserve thinks the solu- tion is in controlling credit. The private bankers want modi-1 fications of both the treasury and federal reserve attitudes. Treasury policy emphasizes that, outside of price control, the gov- ernment can do the most to curb inflation by slicing government spending to the lowest possible minunram consistent with neces- sary services and adequate nation- al defense. It does not want in- creased taxes, but it opposes any decrease. The panacea for inflation, the federal Reserve solons feel, is the restoration of control over bank credit expansion. They believe its ordained mission is to prevent inflationary expan- sion of bank credit—and assure j reasonable stability of interest! rates. _ I The tremendous accumulation In j commercial bank and other hold- ings of government securities, readily sold to reserve banks, caus- e- .'tbwn and village of HONOR ROLL IN attractively designed. As the war progressed, gold stars appeared here and there,. The honor roll is temporary, permanent one, listing those who made the supreme sacrifice,, will be erected. Names o£ the World War. I dee was a more dead from Massena are inscribed on a plaque in the town hall ed the Federal Reserve System to lose effective control over credit. The securities, in the reserve banks, create new reserves capable of enormous expansion in bank credit and bank deposits. The private interests now con- ferring here suggest the issuance of refunding bonds at interest rates attractive to institutional and private investors. The treasury does not believe higher interest rates would be useful in holding down inflation. The bankers want a boost in the interest rate on the treasury cer- tificates from the present seven- eighths of one per cent. The treas- ury feels higher interest rates would increase the cost of carrying the debt, and knock the market value of outstanding securities. Armored Horsepower In World War I, an infantry divi- sion went into action with an equiv- alent of 3,300 mechanical horsepow- er, while in World War II an ar- mored division had 400,000 mechan- ical horsepower — an increase of more than 120 times. TO EVERY VETERAN WELCOME HOME! sr IT'S SURE (JOOD TO HAVE YOU BACK BEST .OF! LUCK! a » 9 NOBLETT'S, COFFEE POT North Main, Near Stoughton Ave. % • '* *r *- & U t- ~-i t t A *$< •-•'* &• »*>- •"i ^:and NOW ... for the pursuit of HAPPINESS Out of uniform into civvies: far - from the battlefield — home to family, job and a happy future. Yon fought for it and earned it. We fornght along with yotta^ best ! W© could — assuqpodng our wartime responsibilities -and aficeptl% 'w^ar* 4&*i a limitation.. Now we're readiy to your future happi- every time y-oti call oiaiisto serve you. LEONG.TYO ' :<• Many Massena Persons Commissioned' When Japan capitulated Aug. 14, 1945, a large number of men from Massena and area were holding 1 commissions. Some of these have been advanced in rank since that time. The list of commissioned officers will become a part oT the perma- nent war record of this community. Therefore, The Observer is anxious that it be correct in every detail, as of the end of hostilities. This list has previously been published, but corrections have been made since then. Names of persons inadvertently omitted have been added. If your friend or relative is not given the commissioned rank he held at the time Japan capitulated in the following list, please call The Observer: Commander, John L. Chittendep; lieritenant colonels, John M. Bel- lamy, Henry S. Howard, Edward J. Story; Mentenant commander, Les- ter H. Chase; major, Henry Ber- trand, Rev. William Capron. Captains, Anthony Viskovich, J. H. Almasian, Stephen Ori, Felix Cecot, Mitchell Rubin, William C. Ward, Paul E. Lametndola, A. J. Levine, John R. McCann, George Ori, Grace Farley, Emily Gorman, George W. Vryland, Jerry I\ Rea- gan, L. J. Cal-li, Robert K. Barbour, Maurice Elder, Bernard Brown. Lieutenants, Robert R. Amo, Larry A. ArchambeauR, Giles Eli- hu Chase, Bernard F. Flynn, Harry Fregoe, Stephen A. Gabri, Ira H. Dishaw, Lawrence Hooper, Norman Hopson, James Hale, Samuel Jacobs, Watkis R. Kassian, Thomas Kingston, Harold Chase, William Charles Lahey, Bernard F. Lam- ber.f, Vernon R. Lawrence, Elmer J. Manson, James M. Murphy, Wil- liam M. McQuin, Emil F. Opalka, Alex J. Ori, Jose A. Palo-mares, Charles ,S. Podgurski, H. Paul Quenelle, Josepth T. Russell, Al- bert J. Slavin, William L. Sovie, John C. Sullivan, John J. Szarka, Ward J. White, Dorothy May Cut- er, Helen F. Dziewisz, Edith C. | Reckard, William Cook, *George Bourdon, 'William Whalen, Thom- as Donelian, Henry Bouchard, *Theodore M. Richards, Frank Catanzarite, Philip Mardon, Earl Dumas, Lawrence H. Martin, John O'Connor, Harold Prescott, Ber- nice Tyo, Albert J. Besaw, Mildred McHugh, Robert B. Hutton. Flight officers, Daniel Opalka, Robert Morris, Robert J. Williams. Warrant officers, Lawrence Be- saw, Leo Jerome, Kenneth Kirkey, Leonard R. Lambert, John Mc- Hugh, Millard F. Crary. Lieutenants (s.g.), Robert Short, James Schreiber. Lientenants (j-g:) 1 , 'Richard D. Gould, George Patrick McHugh, James W. Taylor, Dean F. Whee- ler, Evalena French* Lila Murphy. Ensigns, Nishan Ayrassian, Ken- neth Chapman, John h. Loucks, Rosemary Pellegrino, Elston Gaur> in, Joseph H. Mason, Charles Wiles. The asterisk denotes that the •person gave 1 his life while in serv- ice. . ':*. -.Lumber About 3^i»»lio*» lMi4fceipt lum* are ustdia the United States' each year* • ' A v t Uncle^ $dixt Says %doff my h*ttolabar, Labor D*^ tX M «»lBf K*o*tt t « (Hnmity la time ot w*r but for lt« iaod «wW ill awMnvAng'to invest of tip wmU*n M V. S. g i HONOR HOLLS were erected in practically every community. Tho above picture happens to be one of the rosters erected in the town of Brasher. VETERANS, We Salute You! . . . Now that most of you are home and enjoying the status of civilians, we wish to join in expressing our thanks HIHI ck'i'p appreciation to the men and women, • who served in the arnr.'d faj?ces, for th*'. job you.^kl so- well. May we fijrht as well to ke.ep the peace as you foujrht to win the war. D'ARIENZO BROTHERS SERVICE STATION Water and Glenn St. The rhiard contuigfcnt,. 1 « Massena Feb., 11, 1941 yeas com- posed of all volunteers. '. The 15 volunteers wire:" Richard M. Stickler, Norfolk; Alphons Anthony Smith, Massena; Leon* Cflbfert Giroux, Massena"; James Howard Ober, Massena; Step%m%y&w &abri, Ma^selia; Robert Harvey HaHiday, Massena; John Wands' Nagy, Mas&effa; Al- bert Buck Hibbert, Winthrop; Rab- ert Douglas Maher, Massenaj Ber- nard John CarviHe, Helena; iJames El win Durant, Brasher Palls; Frederick Arthur Clark, Massena; Ifoonias Bziewisz, Mas- sena; Joseph G. iMobiar, Massena. s -. Brusb tJphoJ»(ery ; yee^rent brushlnt, »nd cleanlnj Will fielp'keep the moths away from the wpol.upKolstery on your forni- tote. "i^Jtip't'lil* to;dress up your overstaffed d&air and sofa with fur- niture'jepyer* *B4 forget about the upholsteCy. if it -ha* wool in it.« Clean aMy jspots and brush away the" dust, and any insect egg* that may I *^-. You men did your job! — ami what a job! And we who wel- come you now realize that this land of ours needs plenty of the type of men who brought us pur greatest Victories! Working side by side with you returning Veterans we cannot fail to achieve the good things of life that only peace can bring. WE CANNOT, WE MUST NOT FAIL! BOTH MAItf 3T PHONE8 387 • 372 B v AS I sDeep pride in their accomplishment, and everlasting gratitude fill the hearts of Massenans as we * officially- welcome home our fighting sons and daughters. These gallant young imfen and women who fought for our free- dom, justice and our sacred ideals are ba<?k with us and ready to enjoy the fruits of their victory. \ With ea^ejf hearts and minds, they will want to join their friends and nei|pibors who constitute the pro- , ductive power behind ""the battle lines, in building a ^ secure and happy future. t V * i E L-c * \ f ' . " -v* ' t r jo '.' r ' €- 1 CINTRAL NIWYORK POWIR CORPORATION HUDSOH \ r '•>.'•••%*'-••
