.- Page 6, The Heraid, Tuesday, March 27, 1904

The ‘eRug Doctor

TORONTO O(c) _ Some
economists, arguing that

NOW AVAILABLE

IN TERRACE

Rent the RUG DOCTOR -

the improved
“steam” carpet
‘cleaner with
the Vibrating

Brush!

Old Fashioned Shom-
posers hava ne dirt extrac:
Hen,

ie ;
Ordicary siuam coepet
cteanace Rave oe brush
agitation.

Overwaitea —

SKEENA MALL
PHONE 635-5950

HANNS ieee

1884's. first quarter has
brought with it a rebound {tf
buslteas : activity, say
higher. interest .rates may

the country's economic
recovery,

One well-known
forecasting firm, Toronto
based Data Resources: ‘of
Canada, is predicting. real
growth will be as high ab 5.7
percentat an annual rate in
the January-March quarter,

On this basis, said: the
firm's managing economint,
George Vasic, rising,
interest rates are reflecting
the healthier state of
Canada’s economy, not just
& thriving recovery in the
United States,

Other forecasters remain
despondent about where the
economy is headed, In their
view, interest rates -are
going to prove a. tough
obstacle to surmount for an
economy that: . was
weakening in any case.

Later this week, ‘the
Conference - Board af
Canada will release- its
forecast for 1984 and 1965.

Thomas Maxwell, the
board's vice-president and:
chief economist saya it will
show, first-quarter

. expansion little changed
from previgus predictions.
That would mean real
economic growth at only 2.8
per cent, or haif the Data

|} Resources’ eatimate, . —
In'-a_ profession: not:
renowned for the’

not pose a major threat to”

‘eoslstency its views, an.
agreement between two sets
df economists: may: appear
more ‘nolewerthy than <8
digagreement, But such -a

wide gap in forecasts, fora ’
od: that is.

quarterly...
almost ‘ended, is. unusual.
Moreover, it! is: reflected ‘in
other forecaats "and
opinions,

“People's views of the
Canadian economy are all
over the map,” said one

analyst, who keeps taba on,

the .. mal or: " forecasting

States, where first-quarter

growth was predicted at 7.2.

per cent’ by the U.S,
Commerce ‘Department's
first “flash’’ estimate. {
But it is harder to.agree
om tie exlent to which
Canada has fallen. jbehind,
The division ~is over ‘the
strength of _ cOnsumer
spending,” which gécounts

_ for the ranjor share: pf total

economic actlyity.
Because . this. is the

sticking point, the move to.

higher Interest’ rates has
sharpened dilferences;. itis

the latest genie. aut. of the ©

bottle. .. .
‘The impact: that- higher

rates can: be. ‘expected: to:

have on ‘economic’ ‘growth
depenis pn judgments beinig
made about the ‘comumer
mood ‘of the moment,

whether; ‘ pegaimiatic or

optintistic,.

Tha poaliv view is taken

\)

oy Data Resources whone

- economists contend they're

being .; conservative. in

: expecting: 84 per cent real
: growih'In-the first quarter.

- “Onithe strength of figures

already relzased, personal
‘consumption is expected to _
oan ey ‘by 4.9 per cent, thay

Car sales are put.at an

; annual rate of 990,000 in the

quarter, up from: 893,000 in
the ‘fourth quarter of last
year; housing starts are up
to 182,000 from 130,000, °

The consensus among. - In’ addition, the trade

economists Is that Canada is
lagging bebiid the United

surplus. could, turn. out

Jarger; up to an annual rate
af. $22 billion from $18.4

billion, and Ottawa's

spending on capital projects -

is expected to provide
additional momentum.

. ‘With this kind of predicted
growth, | Vasic said the
economy “can, withstand a -

little upward drift in

interest rates".
‘He sald expansion ‘tke

‘that in the. year's first

* quarter would put Canada’s ~

ecohomy 8.6 per cent higher

than in 1983, even if the.. .
Temalning quartera of. the -
year showed no growth, At -

the same time; he
acknowledged that a lot of

_ Sconomists think 3,6. per
‘gent growth {s all that can °
be achieved for. ‘the full |

year.

The Conference Board’s
forecast.calls for: ‘only 3.8
per-cent real growth : for all
ef 1964, and Maxwell. sald

Mite revision’ is expected.

= AnUpdate: "
-- ’ Five years ago you wouldnt call
‘s- Granville Island a particularly
friendly neighbourhood. Aging
__industrial buildings. Decay. All
. ‘rightin the heart of Vancouver.

_ But funding from the Govern-.
ment of Canada, as well as
some careful planning and co-
operation has helped transform
itinto anisland of prosperity.

. Jobs During Construction

~ Funding from the Government of
Canada encouraged irinovative
renovation of the old ware-
houses and commercial buildings
on the island. This funding also
provided money for construc-
tion of a sea wall, paving-stone
streets and new street. lighting,

_ It took a fot.of work to turnit
Into what it is today, and that -
provided a lot of jobs. But the
funding that paid the wages of
hundreds of construction trades-
people also set the foundations
for long-term permanent jobs.

Permanent Jobs

In The PrivateSector
Today the Public Market em-
ploys several hundred men and
women hired by the independ-
ent operators of the fresh food
Stalls, The privately developed _

—
i

aa

°

‘Slings |
and
‘Arrows

By Nigel E. Hannaford

“What else i is new?

’ How we become immunlzed -to examples at.
government misuse of public money. Take for in- |...
stance the allegations in Maclean's concerning the ©
setting aside of half a million dollars for each
Liberal held federal riding. ops

The money’ was to be used for ‘Job creation, over. q..
and above the nationally available Canada Warks
Program, A special, $80 million fund for Liberals, in a
‘anelection year, -

Yet, one's first reactlon is “ho-hum, there they fo De
‘again; that’s the government for you .. .” and me la
the comics, can :

’ steadily brulsing vesybedy they ‘don’t agree with

for: years, Respected symbols have been: bat
burnered, new ones raised. The social valued 4
western ‘Canada find little recognition in ‘the -
legislative climate of Ottawa and. the country's «
greatest national treasure, the stipremacy of parila:
Ment, has been cast azide. The cost of that will ‘be: 7
counted by our children:

s. With so much altered and with efforts to ptevent it
a such Ilttle aval, it’s perhaps not surprising that
fresh evidence of cynical manipulation is greeted so
calmly, After all, how much reaction would you ex: °
pect from a man dying of cancer if you tell hi he’s
got ahangnall taboot? :

We'd better justhope that a new roo wl
clean, thesponer the better... > -

In passing, it used to be the casa ia 18th
Engiand that electlons were acconipanted by: miideds
partying, brass bands and drunkenness, to the palit
that this kind of purchasing votes was so rampant,”
‘that legislation was enacted to Prevent It, Similar
_ Tegislation [sin effect in Canada today. -

Necessary 1. suppose, but in the end there ls iiitia'- .
* difference between having the candidates buy beer’ -
for the yeomanry and the government pass’ out
mniilions of dollars in rigged employment programs.
Little ditference- - except: in the price, ;

‘|. claims pald since legislation underwriting the”

a only drop iri thé bucket. Perhaps we should excite excite.
yr dhe excusses of David Smith, for they pale in comn-
2] Parison with the snaffus of the really big operators,

vai

A Sterling News Service Feature.

u oa haga wlth WALTER BLOOK: Fegapt sr db ant
VELBAOUANIOIOI Bet ahaa Bian wh alia
"N we epee tds: bits. of oad
ota récor
| Accomplishment.

. _. Ateording ‘to Small Business btnister. David
Smith, tha federal government's $11.7 million. loag
on bad loans to small Canadian businesses last year
isn't an indication of failure for his ministry. In fact,
he says, all things considered, this Is a pretty good .
reco!

_ 4 good record indeed! For ane thing, this loss
was almost double the $6.8 million shortfall postéd
in 1981. For another, it amounted to 42 per cant of all

ministry wai enacted in 1962.
This is hardly a record of accompHahment, In-.,
deed, had any head of a private business concern
- miffed such. losses, he would have been w
whimperin g-and skulking about with hls tail bet-
. og.
But 1904 la upon us. Then, was will be f
: hatred will be love and ignorari¢e will be know otge Lf.
David Smith, it would appear, is anticipating this,
- Ofwelllan world. by having the tenierity te prac-
: Healy Boast of hls ministry's financial setback. +
: True, os tar as Ottawa boondoggtes go, thia te

But this is an age of limits, an age of festralnt,

an age af unemployment. Surely an $11.7 million

- dollars saved Is an $11.7 million dollars’ earned,
especially in these hard times,

As a matler of fact, however, things are even

nesses on the island. The Granville
Island neighbourhood is not only
attractive, but commercially
self-supporting. You can watch
the work from your table at
one of the many fine restaurants

‘overlooking the island.

. Jobs For. Artists

And Craftspeople . ° oo ons
Artists and craftspeople from

“Many disciplines have opened.

studios with Government of -

Canada assistarice. These artists

pay reduced rents on their

buildings. The Arts GubTheatre —

and the Waterfront Theatre
have received financial help. -
from the Canadian and provincial
governments as well asthe -
public. They've attracted solid
Support and a loyal following

attraction. The artistic commu-

_ nity has helped make Granville.
Island a place to see and be
seen, And the Govemment of
Canada has taken real action to
assist Canadian artists make it.
on chelr own.

Granville Island In The Future.
There's a lot to look forward to.
With EXPO 86 going up right -

across the water, Granville Island os

will soon attract more visitors —
and help create morenew
_ j6bs. The popularity of Granville
Island was really more than
anyone expected, and steps
ate being taken to provide for
better public access, There are
more outstanding attractions »
planned for you to enjoy, Drop
in sometime. You'll see how,

Maritime Market is also creating ~ fromthe local populace as well
new jobs, as are the otherbusi-, as * becoming a significant t tourist - ~ become, oo
a nad’ |

~fHendy our nelgnbournoods _ 7

7 ite job, the funnelling of capital to some amall

“F diverston of capital to ome enterprilzes means that .

oi Soe

- | Worse for the small business ministry. For even had -
- itnot recorded the largest logses In history, it would
*- aflll have been counterproductive, This is because

E: businesses, can only. be accomplished by making
“| sure that thls credit does not go to other amall
“f Businesses, Since Canadian capital ~~ oir atora of |

~ machinery, plant and equipment — Is finite, any

other enterprises, which might have otherwise
:' recelved the money, will be left out in the ai ;
So even under the best of conditions — no losses
at all — the ministry of small business is atlilengag-
- ed In an uneconomie and anti social activity. For by
diverting credit from those who would have other-
_ Wise received it, to its less efficient clients, the |
_ ‘ministry always tends to downgrade | the total effl-
ane of the Canadian economy. :
aper losses or paper profits, thé mintatry of
small business and its subs! rogram are-a drain
on business in Canada. ayP

Miah
ali 1 pHison far { near Mauna
‘alert ax vii gt active volcano

fepms 1
"ined wit eanyeike Sporting a fissure

the warrmit s vr ithe! eal J vena that van
formant for nearly nine. years, “a boy ;

Lava fountains up to 200. metres high gushed, from a

‘flesure that initially measured more than three kilometres

long, canting a glow over Hawait Island.
~ “We're pulling people off the mountain,” Jane Buchanan:
Banks, a geclogist at the. U.8, Geological . Survey's
Hawatian Volcano Observatory, sald: Sunday ight: “Ite
too dangerous (for them to stay overnight) ‘because ' we.
don't know where the next outbreak Will ba". ee °°"

_ The eruption awakened a group of volesho ttudenti fron
the University of Masaschusetia who were: ataylog at LT -
cabln § few kilometres from Mauna Loa,

-