i Sijantea ‘aceaididely” A Senior Citizens response to the Finance Ministers special appeal fo all Seniors. By E. Holwell. Writing in the Toronto Star of January 9/85, Ruben Bellan, an Economics Professor, had this to say:- “Well over 90% of the National Debt consists of bonds sold by the Government of Canada to its own citizens. Practically all the interest payments which Ottawa makes each year are to Canadian individuals and Canadian owned business firms”. On this basis, therefore, and with a deficit in the range of $190 billion, $171 billion re- mains with Canadians in the form of Canadian Securities. No doubt investment funds of this magnitude come from the Massive Pension Funds con- tributed, via payroll deductions, by the hundreds of thousands of people in the work force, and I exclude the Canada Pension. The term Canadian owned business firms obviouuusly re- fers to the Pension Fund Ad- ministrators. Trust Companies play an important roll in this connection. Banks and Insu- rance Companies would also be involved. Pension Funds are one of the fastest growing pools of capital funds in the country. Therefore, of the estimated debt charges of over $17 billion, some $15 billion will be dis- tributed as interest to all bond- holders. THIS WILL PUT $15 BIL- LION PURCHASING POWER IN THE HANDS OF THE CA- NADIAN PUBLIC. The Gross National Pro- duct will also record this as part of Canadians Investment In- come (GNP), separate and apart from Salaries and Wages. CONTINUING DEFICIT: AN OBSTACLE TO GROW TH Why does the Minister of Fi- nance express alarm in the following terms? (quote) - ‘*the alarming fact is that the mo- untain of debt inherited as a result of the string of deficits over the past 10 years requires ever-increasing interest charges on the debt. And these rising debt service charges are the driving force behind the con- tinued pattern of high deficits and rising levels of debt. This means that with each year, more and more government money must be diverted from productive uses just to pay the interest charges (unquote). The fact that the Minister uses the term ‘“‘mountain of debt inherited” indicates that his go- vernment will use every means possible to blame the precious administration for its own in- ability to improve our economic future, or to reduce unemploy- ment, One wonders also, has Mr. Wilson followed the pernicious activities of the Tory Govern- ment in Ontario? They have been “borrowing” from the funds of the Canada Pension Plan - The Municipal Emp- loyees Retirement Fund, and Teachers Superanuation fund for a number of years. This borrowing now totals more than $25 billion, and the actual in- terest which the Province pays for this borrowing 1s not made public although it is touted as being very low. The C.P.P. was set up Federally with the collaboration of the Provinces, and the Act permitted all Pro- vinces to borrow according to contributions received. The first interest payment will not become due until 1986. The Canadian Provinces have milk- ed the C.P.P. to date of a total of $22.5 billion. And Principle payments will not be due until 1991. In the meantime Pension payouts will necessarily be a Sielta s se e tulee - . peliis asty- 4 — : tetaan se taas oikein kun- 3. g nollal : HIGH LEVELS OF DEBT — POTENTIAL THREAT, says Wilson What is the real reason for the high level of debt? Here is example |, From the Toronto Stai of January 11/85, we get the following. The Federal Government plans to fuel an economic re- covery with defence spending that will rebuild the Canadian Armed Forces, Defence Mi- nister Robert Coates says. The defence dollar can be “‘invest- ed” to increase economic acti- vity and create jobs. With 1 1/2 million unemployed this government is thinking in terms of WAR!! to solve Canada’s problems, Remember 1939 when hundreds of thousands of the unemployed were recruited into the armed forces - and so many of them did not return, Quoting again from the Finance Ministers published documents. Example 2. ‘‘as much as two-thirds of recent economic growth has been attributed to technological change and there is every to believe that its influence will grow” “Federal financial com- mitments to Research & De- velopment are exstensive; some | $2.6 billion this year alone, apart from tax incentives, within the federal government there are 37 programmes con- cerned with technology in. novations and diffusion,” Therefore, billions of dollars are used to increase pro- ductivity for the private sector, This is one of the major causes of the current unemployment. Once again a project by Gov- ernment to assist private en- terprise forces to increase productivity at the expense of manpower, Again, quoting the Finance Minister:- “there is little point in accelerating the development of new technology in Canada, if they do not quickly spread through out the economy.” Mr. Wilson and his gover- nment seem intent on trying to eee carmners Re elke meagre nes Se ie oie ee MNS WSs ay} Sc *.¢ ted as 2 : ¥ / * 2 * oe "ex aan we Ve “Aye & eos "totes 4 an issue : waiieli is siding | resisted. The question is WHY? The current deficit repre- sents all the unpaid corporate taxes, numerous tax breaks and outright hand-outs encouraged and permitted over the years by Governments, !t is not a debt owed by the Canadian People. rte Gos demonstration ol strength ia the i votral America. Peaccloving policy, Washington style | Over the Hill -ERILAISET TILAISUUDET TORONTO Finn Centre 465-8981 Ikinuorten kerhon toiminta- paikka Finn Centre, 217 Danforth Ave., on auki kello 10 jalkeen jo- kaisen viikon torstaiaamuna. Ter- vetuloa rentoutumaan, juodaan kahvia ja pelataan bingoa! Toronton ikinuorten laulu- ja voimisteluharjoitukset torstaisin, kello 10 laulu ja iltapdivalla voi- mistelu. Entiset ja uudet harras- tajat tervetuloa! CANADA NL-SEURA 977-5819 CANADA NL-SEURAN matk atoimisto: CANSOV 596-1323 | 280 Queen St., W., Toronto, On- - tario THUNDER BAY Ikinuorten kokoukset haalilla, 316 Bay St., joka kuukauden en- simmdinen ja kolmas keskiviikko, alkaen kello 1.30 ip. [kinuorten voimisteluharjoituk- set joka keskiviikko, alkaen kello 1! ap. Lauluharjoitukset ensim- mainen ja kolmas keskiviikko kello 12 kunnes toisin maaratdan, Jarjeston kuukausikokous toi- nen lauantai kuukaudesta alkaen kello 1 iltapaivalla, SUDBURY CSJ:n Sudburyn osaston koko- ukset joka kuukauden toisena maa- nantaina klo 11 aamupaivalla. Pos- tiosoite: P.O. Box 354, Station ‘B’ Sudbury, Ontario P3E 4P2., Sudburyn Seurakerhon viikot- taiset harjoitukset- ja ajanvietetilai- suudet Jubilee Centre (entinen Finnish haali) joka tiistai, alkaen kello 10 ap. Uudet jdsenet tervetuloa ker- homme toimintaan! WANUP CSJ:n Wanupin osaston No. 9:n kokoukset ovat kuukauden ensimmdisené maanantaina, Osaston osoite: R.R.3, Site 13, Box 6, omnis Ontario P3E4N1, TN WME an, ann RRR RNAS Ar nancnnannnnnniogg isin seiner, We sometimes hear the ‘smarties’ say About Seniors: “over the hill.” Oh, sure, we're gone, but like to Stay, Our health is good and strong our will. So, many more are trying their best By striving hard and climbing still To reach the top —, the very crest — To join us Seniors over the hill. Here we may linger in the sun, Lead life in peace with mind at ease, Can work, can play, may love, have fun; We're free to be just as we please. In paints and arts and crafts we find Real joy; even learn in our schools; We stay in shape in body and mind. How can one think we are old fools? We exercise, we bowl, and dance, We go on tours, we Sk: or Skate. And who’s too old for some romance? True love can sometimes blossom late. Jospeh U. Kaksonen Dearer Crime Insurance In Britain, rising crime has placed insurance firms im aquandary. Prudential Assurance, the largest do- mestic insurance company, has been obliged to increase its premium by 50-100 per cent, depending on neigh- bourhood burglary statis- tics. Announcing the rise, one of its managers, John Powell, said burglary had assumed “epidemic propor- tions.”