The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

fililiiiiiilf iit1tste'hir president . -r _ l C' attacks federal government Page 2 - Wmioo ctety.hs5 '"drtrtuturftt,eyt 29.3.3! John H. Panabaker. the president of the Mutual Lite Assurance Co. of Can- ada, attacked the federal government's attitude to- wards inflation during the company's annual meeting held in Waterloo today. No solution to inflation in Canada will be found unv til the federal government eliminates. once and for all, the excessive creation of paper money which vali- dates the inflationary pro- cess, said Mr. Panabaker. Mr. Panabaker told the The National Institute for the Science of Creative Intelligence IS pleased to announce will be their represents tive in the Waterloo Area. Mr. Bell will he offering personalized courses on Transcendental Medi- ation and The Science of Creative Intelligence for the business com- munity. A TM is a mental techni- que which produces deep rest in body and mind. This combats stress and maximizes efficiency in daily activity. . Contact Mr. Bell for more information at 60 Nottingham Street. Guelph 836-1970. I. In" Ell: For example in a recent issue: . Painting your house . Buying ircar . Choosing safe toys . Bicycle safety . Flammable fabrics . Buying and Freezing meats . Many other important subjects ltbth annual meeting of policyholders that relating monetary growth to the growth potentialottheecon- omy would be the most et- lective discipline which a government serious“; con- could impose on igself. tary policy will be the most difficult decision faced by any Canadian government since the Second World War," he said. “Sound money js now a precondi- tion of confidence. and'con- fidence in the future value of currency is a precondi- tion of full employment, and not a barrier to the cre- ation of new jobs. "Canadians must be mo- tivated to be more Produc- tive, to take risks, to save, and to invest," he said. "We must earn our way in an increasingly fragmented, hostile, and competitive world. “If we are not to become as dependent on the Arabs for capital as Europe is now dependent on them for oil, then savings and invest- ment by Canadians must re- ceive positive encourage- ment," he said. But, there must be some confidence that it is all worthwhile. and that savings will not be destroyed by inflation. Mr. Panabaker called for a complete redirection of public policy. “It is a sad commentary on today's so- cial values that rewards won through foresight and risk-taking in seeking oil are denounced and taxed at punitive rates, while the instant millionaire from a government-backed lottery pays no tax whatever on They are all in Consumer Contact, a friendly, informative news- letter published eleven times a year byCanada's Department of Consumer and Corporate Affairs. Every issue of Consumer Contact is packed with valuable in formation, for my Department's concern IS HELPING YOU GETA FAIR DEAL. And this free news- letter IS one way we can get useful information to you. Use this coupon to get on the mavllpg “St now! -.ese He suggested that gown- ments mental: on tax- ing await: en-tptitlrs.s what 'one takes out ot thet mic system, rather of what one puts. into the ecmtumicsystem. rates might be feasible if the whim of food. clothing, and shelter were fully exernpt'ed," he said. "A negative sales tax at the retail level on necessi- ties might Well be possible. thus protecting the poor while discouraging frivolous and wasteful consumption." This more appropriate taxes would give Canada a fighting chance to provide adequate amounts of capital for basic housing, resource development, energy re- quirements, and our indus trial base, he said. Mr. Panabaker urged leaders of the western world to rethink the impli- cations of the end to cheap food and fuel. The wanton consumption of natural re- sources must end, because new supplies will only be available through very ex- pensive processes. . He warned , against the growing use of monopoly or quasi-monopoly power in the world, such as that of the Organization of Petro- leum Exporting Countries. or unions in critical gov- ernment services such as hospitals or the post offiqe. who force their desires on others. "unrestrained use of monopoly power corrupts." he said, "whether it be used by a Commodore Van- derbilt (whose slogan was 'the public be damned) by OPEC. or by a labor un- ion." _ Reviewing the results achieved by The Mutual Life of Canada in 1974, Mr. Panabaker said uncertain- ties in the economic out- look seem to have under- lined the need for adequate protection, causing many to reevaluate their life in- surance programs. This has stimulated a large increase in the amount of new individual insurance placed up 29 per cent, compared with 1973. The net rate of interest earned on assets rose to 7.11 per cent in 1974 from 6.78 per cent. a year earlier. Michael Meighan. sitting, the president of the National Progressive Conser- vative Association. signs the guest book at Waterloo City Hall as Carl Sulli- man. left, the president of the Waterloo- Cambridge Federal PCs. and Water- loo Mayor Herb Epp look on. Mr. Meighan was in Waterloo recently to visit with PC supporters. _ while benefit payments to policyholders and benefi- ciaries advanced 14 per cent to $158 million, and are being made at the rate of $630,000 per working day. er's address. Ml'. A. n. MacGregor, the chairman of the board of the assur- ance company. questioned the prime minister's large private group of advisers and felt Canada may be headed for an American style of government. he "rapid build-up of advisers responsible direct- ly to the Prime Minister Following Mr. Pallabaf- Offtce hours 10:00 am. - 12:00 noon 2.00pm - 6.00pm Monday through Friday effective from March 1, 1975. "Family Physician" wishes to announce to relocate his practice to Dr. Simon H.Y. Yan 496 Albert Street Parkdale Plaza Waterloo. Ontario and independent of the per- manent public service is pushing Canada towards the United States presided- tial system of government and the dangers revealed in the Watergate investiga- tion, said Mr. MacGregor. e" "s, Mr. MacGregor, former federal superintendent of insuranc", warned persons at the annual meeting of policyholders, that the loyalties of these personal appointees, already in ex- cess of 100. must be direct- ly to the Prime Minister. rather than the government as a whole, or a particular department. "The weakness inherent in such personal appoint- ments was revealed in Wa- tergate. Consequently, it is disturbing to see'a similar system developing in Can- ada," he said. "The new system being built up by the Prime Min- ister is not likely, in my opinion. to be conducive to an efficient. stable public service," he said, "Instead, it may lead to deterioration of morale and efficiency. It may also lead to senior appointments in the public service becoming part of the political process, as in the United States. “If the system of super- vision of financial institu- please call 8854210 For appmntment tions, is any guide. nothing in the us. Jriitt thdeareer srstism that has prevailed here. .. Canada's external aid program was another area deserving public scrutiny, Mr. MacGregor ' said. "There is a depressingly large body of evidence that much foreign aid ends up with governments, not the people. . “Canadians who feel stirred by the plight of the hungry in India cannot for- get that it was Canadian aid' dollars and technology that gave India ah atom bomb when her people needed food and agricultur- al assistance. “It is her business when she'has used such aid for guns. planes, and oomos. but it is ours when the question of further aid is raised." He wondered why Ni- geria continues as a recipi- ent of Canadian aid. while reaping riches through membership in the Organiz- ation of Petroleum Export- ing Countries' cartel, or that Arab nations still re- ceive food aid from Canada while such nations are bursting with cash and arms. Let classified advertising work for you whether you are buying or selling. For information and rates call the Waterloo Chronicle at wishes to gm. his comment-smut of practice coEuilend it, quitle the , " Univmity Ave. E. Waterloo by appointmom 884-8386 an. DEREK GROVES. " DENTURE THERAPY .