xt72804xkc96 https://exploreuk.uky.edu/dipstest/xt72804xkc96/data/mets.xml University of Kentucky Fayette County, Kentucky The Kentucky Kernel 1964-10-22  newspapers sn89058402 English  Contact the Special Collections Research Center for information regarding rights and use of this collection. The Kentucky Kernel The Kentucky Kernel, October 22, 1964 text The Kentucky Kernel, October 22, 1964 1964 1964-10-22 2015 true xt72804xkc96 section xt72804xkc96 Spindletop Research Becomes Independent

Spindletop Research became an independent organization yesterday as Gov. Edward T. Breathitt, representing the state, gave the board of directors the land,
building, and equipment.
Dr. Peter Goldmark, president and director of
research at C.B.S. laboratories, gave the main address at
yesterday's dedication ceremonies in the administration
building. Also speaking were Gov. Breathitt, Dr. John VV.
Oswald, president of the University, Wilson VVyatt,
former Lt. Gov. of Kentucky, and Grant McDonald,
chairman of the board of directors and president of the
Square D Company.
"The Spindletop experiment is showing great
promise and is being favorably observed in many places,"
Breathitt said. He complimented Spindletop leaders on
their ideas, planning, and effort which made the center
possible.

Created in 1961 by a special act of the Legislature,
Spindletop has been aimed toward increased use of Kentucky's resources by making research facilities available
to private industry and agriculture.
Last year the organization carried out approximately $645,000 in research for Kentucky clients and out
of state concerns. Now its contracts total about $1.2
million annually.
"The creation of Spindletop was the creation of a
vital resource," Breathitt said.
Former Lt. Gov. Wilson Wyatt, one of the original
promoters of the Spindletop program, predicted the
development of a research park to serve industrial and
governmental industries.
e
A
plot adjoining the
Spindletop
land has been set aside for a research park to be sold or
350-acr-

130-ac-

leased to specialized agencies.
VVyatt referred to the center as "a brain center for
practical and applied research for industry."
Grant McDonald, board chairman, saidtheorgani-zatio- n
must now expand on a national and international
basis. He said the Spindletop staff would expand by about
one third by next spring and that 70 members of next
year's staff will be professional and technical workers.
Dr. Oswald talked of cooperative programs planned
to give Spindletop personnel positions at the University
and University personnel positions at Spindletop.
Spindletop Research and UK were "integral parts
in a full circle of cooperating units within the state,"
the UK president said.
Dr. Goldmark, the guest speaker, spoke of the importance of research and planning in world survival.
"The question is: Have our instincts and our
thinking processes improved with our plumbing. . .I'm
afraid the answer is 'no,' " Dr. Goldmark said.
Dr. Coldmark, the developer of the
phonograph record, advocated education of each individual aimed at teaching him to cope with the problems
that have never been confronted by humanity before. He
mentioned the world's population growth and man's
increasing mechanisms for his own destruction as examples.
In the ceremonies the board of directors was
increased to 73 members. The six new members are:
E. B. Earon, Garvice D. Kincaid, Russell T. Lund,
Walter Langsam, Miss Katherine Peden, and E. S.

:?'"-I,-y;'

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121

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long-playin- g

Dabney.

Reelected to the board were Rexford Blazer,
liam Kendall, and Ronald Reitmeier.

Centennial To Begin
Student Paper Contest
Committee Plans Study
On Research, Creativity

Vol. LVI, No. 29

Wil-

w
w

Dr. Peter C. Goldmark, president and director of research

at Colombia Broadcasting System laboratories, was a
guest speaker during the dedication of Spindletop Research Center Wednesday.

mjU im. In! m
University
LEXINGTON,

The Student Centennial Committee has announced plans for
a Centennial Conference on Undergraduate Research and Creativity.
The program, starting tomor- Wheeler, sharing the chair-- ,
row, will run tnrougn Marcn zz,
manship with Anette Westphal,
1965. During this time, University
students are invited to submit added the top four papers in each
y
field will be read at an
original research papers of not research conference
in the Stumore thanl?500 words in the
fields of social, biological and dent Center on Saturday, April 10,
The University's Student Cennatural sciences, and the human- 1965. All 16 papers will then be
ter Board will be host to the
published in book form for disities.
dollar savings tribution at colleges and univerTwenty-fiv- e
region Five Conference of Student
sities throughout the nation and Union Boards to be held here Oct.
bonds will be awarded to the outto state high schools.
standing paper in each field. A
In addition to Kentucky, rePapers may be submitted anyfaculty committee will make the
time before March 22, 1965 to the gion five includes North Carolina,
selections.
The event is the third thus far Centennial Office, Room 208, Stu- South Carolina, Tennessee, and
deleannounced by the SCC. Others dent Center.
Virginia. Approximately
Normal term papers will not gates and staff from these states
already announced are the sale of
Centennial charms and a campus-wid- e qualify for submission, although are expected to attend the conscholarship drive. Charm extensive work on such papers, if ference.
Since this is the 50th anniver- sale proceeds also will go toward in original, will qualify.
scholarships.
Books
Displays
"We feel the research and creis a fine opportuA Time for Action and Sen. Barry
ativity program
A selection of paperbacks connity for undergraduates to particcerning the current presidential Goldwater's The Conscience of a
ipate in the Centennial program campaign is now on display in Conservative.
while at the same time extend the
Also included are the New
Margaret I. King Library.
their academic interest beyond
York Times Election Handbook,
their regular classroom work,"
Included are paperbacks giv- Presidential Elections, and ElecJim Wheeler, program cochair-ma- n ing both sides of the issues such tions 1964, a Newsbook by the
said.
as President Lyndon B. Johnson's National Observer.

of Kentucky

KY., THURSDAY,

OCT.

22, 1964

Twelve? Pages

UK's Student Center Board

all-da-

To Host Regional Convention
29-3-

Library

Election

sary of the Association of College
Unions which sponsors the conference, the theme of the conference will be "Challenges of the

Colden Year."

Keynote speaker at the conference will be Mr. C. Shaw
Smith, Director of College Union
at Davidson College who will
speak on "Challenges of Philo-

sophy."
At the banquet to be held Friday, UK President John Oswald

will be guest speaker. Entertainment after the banquet will be
presented by Max Morath.
According to Jane Batchelder,
program director of the Student
Center Board, the main purpose
of the conference is for students
to discuss and share ideals about
student union boards.
The discussion groups will be

with such topics as
"The Challenge of Communication," "The Challenge of Relationships," "The Challenge of
Organization," and "The Challenge of Programming."
UK officers and delegates to
the convention are Carolyn Cramer, arrangements chairman;
Elaine Baumgarten, secretary;
Rusty Carpenter, treasurer; Ken
entertainment;
Brandenburg,
Cheryl Benedict, publicity; Jack
Milne, special events; and Susan
Pillan, hospitality.
Saturday afternoon the visiting delegates will be invited to
tour a horse farm, and Saturday
night they will attend the New
Christy Minstrels Concert.
The last time a Regional Conference was held at UK was in
concerned

1958.

UN Trip Applications

Accepted In Y Office

Applications are being accepted for the seventh annual United
Nations seminar sponsored by the YMCA and the VWCA.
The seminar includes a trip by train to New York City and a
two-da- y
visit at the United Nations Building. The deadline for
filing applications is Oct. 28.
Walter McGuire, cochairman of the event, said no more than
40 students could take the trip. The group will leave Lexington
Nov. 11 and return Nov. 15.
McGuire said a fee of $56 would be charged each student to
cover transmutation and housing. He said each student would pay
for his own meals.

Centennial Conference Committee

Member, of (he Student Centennial Committee on
Undergraduate Heparin and Creativity are: AM
row, from the left. Arthur Henderson, Marti Car.
penter, Annette Westphal, eochalrman; ami Jim

Wheeler, chairman. Second row, John Koaih. Bob
Lynch. Kr.ntn Fattle. Kathy Goodman. John Cole,
Tom lteed, and John K. Kohlrr.

Applications are available in the YMCA ami YWCA offices in
the Student Center. A student must be under 25 years old and have
a 2.0 standing to be eligible for the seminar, according to McGuire.
A committee will screen the applications.
The group is scheduled to leave Lexington at 5 30 p.m.
Wednesday, Nov. 11. The program will begin at 2:30 p.m. Thursday
in the United Nations Building. A tour of the building is inc luded
in Thursday's agenda.
The seminar includes meetings with representatives from
different foreign countries Friday, Nov. 13. The group also will meet
with the General Assembly Fiiday.
McGuire said the group would be fiee after 6 p.m. Thursday
and Friday and Saturday morning. The group will leave New York
at noonSaturdayandreturntoLexiugtonatb
a.m. Sunday, Nov. 15.
McGuire said two short orientation sessions would be held
prior to the trip.
Nancy Fitch also is cochairman of the event.

� THE KENTUCKY KERNEL, Thursday, Oil.

2

22, 1961

World Netcs Uriels'

DOUBLE

M?tgZ3g!i7fi.T!i!

German Chancellor Erhard
Turns Down TV Debate Proposal
BONN

German
Chancellor Ludwig Erhard has
turned down West Berlin Mayor
for
Willy Brandt's proposal
fortnightly televion debates. In
the general election 11 months
hence, Brandt, the head of the
opposition Social Democratic
party, will run against Erhard.
TURIN MAYOR DIES
TURIN,
Anselmetti of Turin, a major industrial city with almost a
million population, died Wednesday of a brain hemorrhage.
He was 60.
CAMPAIGNS AGAINST
MALNUTRITION
DAR ES SALAAM, Tanganyika (AP) President Julius
of Tanganyika-Zanziba- r
has urged his countrymen to
Italy(AF)-MayorCian-c-

arlo

Ny-ere-

m

252-449-

fli 112

starts

5

ADM. 90e

DELECATES
COPENHAGEN, Denmark

Denmark has agreed to
send a delegation to a conference of U.N. members called by
Canada starting Nov. 2 to discuss formation of a permanent
U.N. peace force.
(AP)

CHURCHILL WELL

(AP)-Tur-k- ey's

LONDON

A. D.
Sir Winston
Churchill's secretary, said Wednesday the former prime ministerwho will be 90 on Nov.
30 is "quite well and in good
sails
spirits." Montague-BrowThursday for New Yorktohandic
some business matters for Sir
Winston.
(AP)-- A.

Montague-Brow-

n

KENTUCKY

Cadet
1894,
Begun hs
the Record in 1900, and the Idea in
as the
1908. Published
continuously
Kernel since 1915.
Published at the University of Kentucky's Lexington campus four times each
week during the school year except dur- -'
ins; holiday and exam periods. Published
weekly during the summer term.
The Kernel is governed by a Student
Publications
Board, Prof. Paul Oberst,
College of Law, chairman; and Stephen
Palmer, senior law student, secretary.
Entered at the post office at Lexington, Kentucky as second class matter
under the act of March 3, 1879.
SUBSCRIPTION RATES
Yearly, by mail-$7.- 00
Per copy, from files $ .10
KERNEL TELEPHONES
Editor, Executive Editor, Managing
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AGREES TO SEND

DISCUSSIONS TO HELP
TURKS
BONN, Cermany
labor minister, Buelent
Ecevint, will begin a y
visit
to West Cermany next Monday
for discussions with government
officials on improving the lot of
70,000 Turkish workers in the
country. Turks and other nationalities have been brought to Cermany to meet the labor shortage.

The Kentucky Kernel
became
in
the

It$ St

1

OF TERROR

-

eat more nuts and fruits as part
of his campaign against malnutrition. In a nationwide broadcast, Nyerere said peanuts grow
in abundance and if "everyone
ate half a handful each day, it
would improve our health."

(AP)-W- est

DOSE

� THE KENTUCKY KERNEL, Thursday, Oct.

The Merry

Go-Roun-

d
,

s
are over. Artd the
campus is ready to celebrate!
Mid-term-

This

year professors

were

pre-

pared for the seeming speedy

arrival of
and many
a haggard student feels the urge
to "cut loose."
With the Wildcats at Georgia
this weekend, inspiration for relaxation has been left to the
various social groups on campus.
And relaxation is exactly what is
in store.
This afternoon the Kappa
Sig's begin their Filly Football
Festival at the Sports Center.
Women from many of the sororities will be frantically playing
flagball to see which house can
outmaneuver the other, win the
trophy, and become holder of the
crown.
"triple-F- "
Fraternity open rush for freshmen began last Saturday night,
and the fraternities are out to
show themselves in the best possible light this weekend. Friday
night the Delt's and TKE's will
be entertaining their rushees with
informal parties at their respec- r,

Pin-Mate-

s

Marjorie Engclhardt, a junior
psychology major at American
University in Washington, D.C.,
to Malcolm Rcback, junior marketing major from Washington,
D. C. and member of Zeta Beta

Tau.
Judy Erlach, freshman commerce major at Syracuse University, to Edward Block, senior
English major from Newport
News, Va., and member of Zeta
Beta Tau.
Pam Howard, from Lexington,

to Bill Kacser, sophomore prelaw major from Lexington, and a
member of Phi Kappa Tau.
Sandra Stinekcr, sophomore
education major from Louisville
and a member of Delta Zeta, to
Ken Currcns, sophomore
major from Lexington, a member
of Sigma Phi Epsilon.
pre-Ia-

Homecoming
Queen Candidates
All campus groups nominating
Homecoming queen candidates
should submit the names and
pictures of their nominee between 3 and 5 p.m. Friday in the

Center. Photographs
should be the 8" x 10" size.

Student

Hi

tive houses. The Parliaments will
be playing for the KA's in the
fraternity party room, and the
Sig Ep's plan a record session at
the chapter house.
Zeta Tau Alpha is holding a
dance at Joyland Friday in place
of the Christmas dance the sorority usually holds each year just
before Christmas vacation. The
ZTA's decided final exams interfered too much with the enjoyment of any type of function then,
and they plan to make this informal dance an annual function.
The Torques will provide the music.
Saturday afternoon the scene
will switch to jam sessions as
both Delta Camma and Holmes
Hall spark the campus to action.
There is only one slight problem:
According to our information, the
Torques are scheduled to play for
both groups, the DCs on the
patio of the Student Center from
2 to 5 p.m. (or in Bucll Armory
if the weather fails) and in the
Holmes Hall recreation room
from 1 to 4 p.m.
Things should be very interesting.
Saturday night UK will break
out in its first good case of theme
parties this semester.
Phi Kappa Tau is saluting the
change of season with an Autumn
party while the Fiji's and their
dates don P.J.'s and cup up at a
Pa jama Party.
The Lambda Chi's have engaged the Classics to play at their
Luau, and there will probably be
much searching before the party
to come up with authentic Polynesian costumes.
The Kappa Sig's, ATO's, and
Triangles have plans to entertain
their rushees in the casual style,
and these houses will be holding

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edited by Gay Gish
informal parties to acquaint the
freshmen with the fun of fraternity social life.
Returning to the "theme
mood," the Phi Delts are going
to have a Jungle Party and
"swing" to the music of the

On-- T

Temptashuns.
The ZBT's hail from Dog
Patch this week as they break out
the infamous "Kick-a-po- o
Joy
Juice" and go. . . .
Farmllouse and AGR are celebrating Halloween early. Each
group plans to "spook it up" in
its home haunt.
The surprise party of the weekend is the Phi Sig "New Year's
Can't Wait" party. The scheme
is a mystery, but all indications

3

us

NEW STORE HOURS

Open 9 a.m. to 5:30 p.m.
Each day except Thursdays

are for a good time.
On both Saturday and Sunday, Alpha Xi Delta will have its
retreat. The
yearly pledge-activ- e
women will spend the two days at
Camp Daniel Boone on the Kentucky River.
For those who are interested in

theatrical entertainment, Cuig-no- l
Theater is presenting "Man
For All Seasons" by Robert Bolt.
Tickets are available now at the
Guignol Theatre box office for
performances on Friday and Sat-

he-Camp-

Announces

Open 9 a.m. to 9 p.m.
on Thursdays

Embry's

On-- T

he-Camp-

us

381 SOUTH LIMESTONE
Across from Holmes Hall

urday nights.

The weekend's activities will
provide a welcome respite from
two weeks of concentrated study
and put us in a better frame of
mind to begin the second half of
the semester. There will be lots of
life and fun and music as UK
greets the fall season. Have a good
time!

UNITARIAN
CHURCH
Higbee Mill Road
at Clays Mill Road

&

10:45 a.m.

Service and
Church School

ffl

Speaker . . .
Dr. Carl M. Hill

At

Crolley Cleaners

..

22, 1964- -3

Title: "The New
Role of Kentucky
State College in
Higher Education"

j

J

Margaret
from the
Sportswear

Mart.
The University of
tucky is believed to have the
best dressed coeds on any
campus.
The Sportswear Mart, on
the Northern Belt Line
(probably the only fashion
shop of its nature in the
area) is the most
important factor in helping
the UK coeds maintain this
reputation.
The Sportswear Mart carries only the finest in name
brand, famous label, casual
wear and every item in their
tremendous selection is discounted that's right, girls!
every top line in the country has a price tag far lower
than you'll see for the same
garment in other fine stores.
If you're new to the University and to Lexinqton
put the Sportiweor Mart on
your list of "sights to see."
evThe store hours are
Ken-

Mid-we-

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Also Ernie Donncll's Band will
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Panti-sli-

Admission is $1.25 for Show and Danco
Make Reservations by Phoning 299-194- 3

Joyland Casino
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� Last week the University faculsent back to committee for reconty
sideration the calendar proposal
which most perfectly conformed to
student demands for the fall semester schedule. The committee's proposal provided for the fall semester
to end before Christmas, included
a four day Thanksgiving holiday,
and set aside a day for study between the end of classes and the
first day of finals.
In an earlier editorial, the
Kernel endorsed this plan from the
point of view of undergraduate
students. Now it appears that a
broader look should be taken to see
if the proposed calendar satisfies
the demands of the entire University community.
In the discussion at last week's
meeting, one faculty member summed up the objectives to the "short"
fall semester by saying, "The educational advantages of the old calendar far outweigh the psychological advantages of the new one."
The following specific shortcomings
were cited.
One, there is less time for
graduate research, forcing graduate
students to take lighter loads during
the fall semester; two, the comparatively early starting date for the
second semester cuts down on transfers to the University and prevents
visiting professors from coming.
Finally, the early start in September
interferes with professional society
meetings. In short, it appears that
the new calendar does not conform
to the demands of graduate students
and professors.
It is difficult, however, to understand the "educational disadvantages" of the proposed calendar.
This is not the result of undergraduate myopia which prevents our
understanding the needs of graduate students and faculty members.
Hat her, this view comes from a

This
Search All Baggage
Train May Be Infiltrated By Girl Democrats!"

"Call Out The Guard

A Broader Calendar
closer examination of the

objec-

"""
tions, which reveals inconsistencies
on the part of
and
those protesting
First, it would seem that the
short fall semester would present
fewer problems to graduate students than undergraduates. Since
graduate study is less tied to
the month of freedom between semesters should provide
greater opportunities for doing work
in independent research which
compromises much of the graduate
program. In the same way, faculty
members have more effective time
for scholarly activity since the vacations both at Christmas and during
the summer are of longer duration
rather than if they were chopped
into small periods of time.
On the other hand, those who
make the "hardship to research
case" assume incorrectly that the
fall semester is much shorter than
the spring semester. Actually, the
fall semester 1965 would total 115
days; the spring, 119 days. Surely
these four days do not mean the
difference between successful and
unsuccessful research projects.
The other two objections are
not strictly educational disadvantages. They are the inconveniences
which result from the University's
being part of the vanguard attempting to arrange a sane calendar
The drama and surprise of the policy it is impossible at this moaround the illogical procession of
ment to say with any assurance.
political coup d'etat that has reholidays to which people have at- moved Nikita S. Khrushchev from These facts do not necessarily
tached so much emotional signifihis posts as head of the Soviet guarantee that there will be no macance. To return to the old calendar
Communists party and of the Soviet jor changes, since either or both of
is to abandon sensible attempts to
state are without parallel in the these men or other powerful figsolve the problem.
of any major world ures who remain in the shadows
The proposed calendar is a recent history
This very week the world could have had major differences
sensible, reasoned solution, be- power.
the familiar with Khrushchev, differences that
cause it combines educational and saw Khrushchev in
they were forced to conceal in pubrole of conversationalist with cospsychological considerations. The
monauts orbitingthe earth. In Bonn lic because of the requirement that
University should not scuttle it
all Communist party members folpreparations were being made for
simply because professioanl soci- his arrival
low the approved line at any given
early next year for negoeties and other schools are slow in
time.
tiations of the highest importance.
changing to the same plan.
More important than personalNow he is suddenly "retired"; and
ities, however, are the fundamental
others will soon be speaking to Sovfactors that any rulers of the Sov iet
iet cosmonauts, visiting foreign capitals on state visits and making Union must take into account.
Khrushchev followed his policy of
visors (so much that one of his top speeches that will be tomorrow's
in foreign affairs and
aides felt compelled to resign), then Soviet version of holy writ.
of attempted concessions in domessuch a parallel would exist. And
In the wake of Mr. Khrushtic matters because he was an astute
needless to say, such a relationship,
chev's downfall emphasized by and highly practical politician. He
if it did exist, would be a legitimate
Alek-s- i
removal of his
bowed abroad to the inexorable
cause for concern on the part of all the
from the editorship of facts of the thermonuclear
Adzhubei,
age and
Americans. Coldwater wears the
the world can await a
of the vast power of the United
label because he and his Pravda
extremist
of history to emphasize States. At home he recognized the
followers put it there; McCill and
the fallen leader's errors and pertremendous pressure of the Soviet
others need only call attention to
haps even his "crimes." When it people who desire a better material
its presence.
comes, this material may shed more life and more freedom. These funOne characteristic of the exthe reasons for his precipdamentals will have to be reckoned
tremist is that he usually does not light on
itous fall from all his posts of power. with by his successors as realisticlike the label. For example, many
To w hat extent, if any, the new ally as they were by Nikta S.
segregationists talk of preserving
Brezhnev-Kosygiteam or those Khrushchev.
"States' Rights" or "Constitutionbehind them will change Soviet
The Xew York Times
al Covernment" when they really
mislamean "segregation." Such
beling may confuse the
public but it never misleads other extremists. They underThe South's Outstanding College Daily
from each
stand such double-talUniversity of Kentucky
other. Wallace and Coldwater unESTABLISHED IS'Jl
i
Hi'iisim, (k:t. n, iw
derstand each other hilly.
Fditorln-CltltWilliam Chant,
Damu Hawil. t.ittutne Hditut
A basic inle ot anv observaCahy lUkswimn. Stuiuiginn Fditar
KiNNEIII ChlLN, .Wu l.ditor
tional science is that "if it looks
HtMtv Hum niiiai S;i,rfv I'.ditttr
alum Chant, AmifuiJ to the t'.xtiutue Fdttor
like a i hit. ken, cai kles like a chic
Sam Ahill, Cti. Photographer
Cr Cjhi, StiJ l.ditjr
Sahy Aiiilahn, W'onu h's t't atuic t'ditor
and runs ith i hie kens, vv h not
call it a chickeny" On a similar
1'ack Waiklm, AJivrti.inj Stunner
John T. 1ah iicdiy. Cmulutton Statuincr
i.i Ms, u hv not all bans Coldw ati r
lhtoriJ I'ogc .Vf,j
l)
his piopcr label oi
hhA.NK II Uunv. TaoMi Utasur, Ahiiich lit ndi hson, Ciaidic
Jiniuv. Homm Siaih,
i xticmist:'
Jamls Svaha; Sid Wmu, Cuitotmit
I

--

short-sightedne-

class-wor-

k,

End Of An Era

Letters To The Editor
To the Editor

of the Kernel:
wish to reply to a letter by
Mr. D.R. Kelley in the Oct. 7
issue. Mr. Kelley's thesis was that
writers like Ralph McCill were
working hard to pin the label of
extremism on Coldwater. Furthermore, Kelley would have us believe
r
that the relationship between
and the extreme right is
comparable to Johnson's relationship to the American communists.
An examination of the facts indicates that such is not the case.
First of all, what relationship
would actually hae to exist between LHJ and the American communists in onlcr to parallel that
relationship already existing
fen Coldwater and the extremists
of the far rights 11 l.BJ had gone to
the Democratic convention as the
favorite of the communists and no
one else; if these communists hail
seiid conttol ot the convention
lu.u hinciv had then steamrollered
Johnson' nomination; had then
appiopriated the entile Di Iiuk ratic
l'aitv app.natus to theiuselv es; and
if Johnson, asked to lepudiate the
communists. had said. "Coinnm-nisn- i
in the ihieiisc ot libcitv is no
vice", and then pioc ceded to surround himself it It i ommunist ad
I

Cold-wate-

be-t-

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semi-deten-

te

son-in-la-

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ixorly-intorme-

tl

The Kentucky Kernel

k

f

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i,

v

I

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light-win-

g

cforci: ciurrnii

E.ir!ili lntructir

Linda Muit, t'ditor

'IhuruLy

.NYu

Stuff

snd

Hum k, .uwwij'if

� THE KENTUCKY KERNEL, Thursday, Oct.
Ll i TIE

MAN ON CAMPUS

TH' ANNUAL
i'

T

I

'

by Dick Bib..

Oil Federal Reserve
System Is 50

77TOTIl77Mm777hi7niSi II
II
111'
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II
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It

I

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It likely will surprise a good
directorate.
As a result of rashness in unmany persons to read that the
Federal Reserve System is cele- controlled speculation, 13 New
brating its 50th anniversary year. York banks failed; serious unemSo used are we to the FRS that ployment
and wage cuts folone thinks of it as having come lowed. (There occurred in this
along with the Constitution, the period an example of compromise
Bill of Rights, and other early
that was to plague sincere
essentials of the Republic.
Teddy Roosevelt: The
June 23, 1913, was one of President was waited on by two
Washington's worst days for envoys who told him that a big
heat and humidity. (There was, New York financial institution
of course, no air conditioning.) would fail unless its large holdPresident Wilson, then engaged ings in Birmingham's Tennessee
in putting through the Congress
Coal and Iron Company were
a series of major reforms, noted taken off its hands. U.S. Steel was
the wretched heat, but reminded
willing to buy. The President's
the members they were in the visitors wanted to know if suc h a
sale would violate the anti-trupresence of a public duty.
For six years various Conlaws. Teddy, looking at the ecogresses had managed to evade the nomic depression and knowing
that failure of the major institu-- ,
strong recommendation for a central bank, made after the dis- tion would many times multiply
astrous panic of 1907, during the panic and its depression,
Theodore Roosevelt's administraagreed to the sale. His critics
tion. This disaster was largely a made much of his "inconbanker's panic brought about by sistency.")
rash speculation and mismanageBankers, who now with a
ment in a time when the conunanimity rarely broken thank a
trol of most of the nation's major merciful God for the Federal Rebanks was in the hands of an serve
System, bitterly opposed it
trust-bust-

myisJ'r JILL rajUEH
WILLIAM F. BUCKLEY JR.

Hopefully, Bill Miller Is

Vice Presidential candidate
William Miller is quoted as saying that Barry Goldwater would
not alter existing arrangements
with respect to Farmers' subsidies. There are those who hope
Mr. Miller is profoundly wrong.
If there is any domestic situation
that urgently needs mending, it is
the agricultural boondoggle; and
r
one hopes that before Sen.
is through campaigning, he
will have suggested a few reforms.
I recall a statement I heard
three years ago which I have never heard gainsaid. It was a professor who said it, and of liberal
leaning. "I do not know," he
confessed, "of any one of intellectual responsibility who defends the existing agricultural
subsidy programs." Not long after, the Reader's Digest conducted a study which established
a most amazing point, namely,
that the money that is turned over
by the Federal Government every
year to the farmers in the form
of subsidies is equal to the entire
sum of money raised in income
taxes from the American public
over the 27 percent bracket. Thus
elimination of the program could
mean lowering the maximum tax
rate to 27 percent.
But the program cannot be
Cold-wate-

eliminated altogether. Granted
that no one of intellectual probity
will stand up and defend the
existing distor