iA ATLAS SERENE LA ATRL TT RE OE SA a AS a a

ROYAL COMMISION SHOWS:

Bankers seeking
to fleece public

It's going to be harder to
make ends meet if the Canadian
government implements the pro-
posals on credit of the Royal
Commission on Banking and
Finance.

Contrary to the suggestion by
the Communist Party in 1962
that the commission should strive
to keep down interest rates and
stop interest gouging on con-
sumer credit, the royal com-
mission proposes to sendinterest
rates shooting skyward.

It is obvious that Canada’s
privately-owned banks want to
share the wealth—but not with
John Q. Public. They want to get
in on the interest rake-off of the
current credit bonanza.

’ This is what’s behindthe Royal
Commission's proposal to drop
the statutory 6 percent interest
ceiling on personal bank loans.
For years, the private loan
sharks have been getting away.
with interest rates as high as 24
percent annually. The banks are
jealous and want to muscle in on
this easy money.

The royal commission recom-
mends that the loans you can get
“on signature alone” (although
it’s never that easy) have amax-
imum interest rate of 2 percent
per month, or 24 percent annually
on the first $300 of a loan; 1
percent per month, or 12 percent
annually on amounts from $300to

$1,000; and 3 a percent monthly, —

or 6 percent a year on amounts
from $1,000 to $1,500.

The eagerness of the banks to
get in on the profits that can be
milked out of the small borrowers

shows they are ready to squeeze
blood out of a stone. But another
proposal of the royalcommission
will probably hit the working men
even harder.

The proposal is that the interest
rate on National Housing Act
loans, guaranteed by the govern-
ment, be established in the mar-
ket rather than by Cabinet
decision.

The biggest share of the more
than $13 billion owned by Cana-
dians is in mortgages on homes
and other property—around $8
billion. Free-market interest
rates will be higher than rates
established by the government.
The working man who is home-
owner will find himself caught in
the scissors of rising property
taxes and higher interest pay-
ments on his mortgage.

In its brief to the Royal Com-
mission on Banking and Finance

City peace workers to join
women’s protest in The Hague

Six delegates from the Cana-
dian Peace Congress will be
guests of the Soviet Peace Com-
mittee in Moscow for ten days
commencing May 15th.

Two of the delegates are from
B.C. They are Mrs. W. Searle
of North Vancouver and Mrs. A.
Bingham of North Burnaby.

En route to Moscow the dele-
gates will join with a group
from the WomenStrike For Peace

Enjoy Good, Home-Cooked
Meals at

Jennie’s Cafe
335 Main St.

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(U.S.A.) in The Hague, Holland,
where they will demonstrate out-
side the building where the NATO
Council is meeting from May
12th to 14th, ©

The Women Strike For Peace
will present a petition to the
Council which states: -

a3

our governments not to establish
a multi-lateral force under NATO
command as ameans to defend us,

‘*We earnestly demand that the
NATO leaders convert plans for
further nuclear establishments—
which increase the threat to world
peace—and, instead, join in a
multilateral effort to put an end
to the arms race and to our
fears for the survival of our
children.

‘We, the people, .weary of
living in the shadow of nuclear
annihilation, say our true de-
fence and security can be found
only through complete and gen-
eral disarmament under inter-
national control.”’

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AUTO
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Auto Body Work

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in 1962 the Communist Party had
urged a loan interest ceiling of
7 percent per year.

Looking over the “hodge
podge” of banking and credit, the
party's brief stressed that bal-
anced economic development
could be achieved only by nation-
alizing the banking and credit
system, as well as U.S.-owned
corporations, and by establishing
a planned enconomy based on
genuine industrialization.

A one-sided economic develop-
ment concentrating on raw-
materials spheres was the result
of disorganized and private con-
trol of banking andcredit, as well
as huge Canadian expenditures
on war preparations, and U.S.
control of major sectors of our
economy.

Short of nationalization, said
the Communist Party, interim
measures to improve the situa-
tion could include public control
over capital exports and the gen-.
eral direction of private capital
investment in Canada, and estab-
lishment of a department of
national investment.

The banking system should also
strive to expand consumer pur-
chasing power and hold down
inflation and interest rates.

Labor forum ponder
automation problem

“Last Sunday the Pacific Tri-
bune held the third and final la-
bor forum of this season, on the
theme: ‘‘ Automation—How Can It
Serve Society?”’ Site was theStry
Hall, 128 E. 8th Ave,

Emil Bjarnason, director of the
Trade Union Research Bureau,
and* Jean Pare, Vice-President
of the UE union, spoke on the
topic, answered questions and
listened with interest to several
contributions made from the
floor. About 30 people were in’

attendance,

The progressive Ukrainian com-
munity all across Canada is honor-
ing John Dubno, on the occasion of
his 60th birthday anniversary.
Dubno was for many years the
provincial secretary of the Associ-
ation of United Ukrainian Cana-
dians in British Columbia. At pre-
sent, he is manager of the Ukrain-
jan Children’s Camp, located at
Palermo, Ont.

~

Both speakers agreed #
automation, as such, was 0
in its infancy in Canada.
we are experiencing, they ie
the development of mechaniza 0
to an extremely high level.
will be followed by automation
which will necessitate fundamen
tal economic and social changes

examples

They gave numerous
oa tive pro

of how improved produc
cesses have so far me
two things: increased pro
the owners of the means ©
duction and an ever growils
of permanent unemployed
placed by machine power.

In the final analysis, the
italist system will be uate
solve the myriad of prob at
created by this improved seh
tific technology.

B.C. Communist Party leader Nig
Morgan will speak at a public
in the Clinton Hall, 2605 E. Pen :
on Tuesday, May 12 at 8 p.™- 4
speak on the three-point progt' tio?
cently adopted by the cpc OTe
convention, aad on his study-
the Soviet Union.

FAMILY FUN DAY

Come and enjoy yoursel¥® |
at the Spring Pool opening
at 3440 FROMME ie
North Van. SUNDAY, M 2
17th from 2 p.m. on. ca
side sports, games, he!
dogs, free popcorn for! i
kids. Film showing of mg :
Admission $1.00 per fam! Nes

Ausp: North Shore Press

Club
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Classified Advertising

COPY — DEADLINE FOR ALL
ADVERTISING. All copy must
be in the offices of the PACI-
FIC TRIBUNE no later than 12
Noon on MONDAY. te

COMING EVENTS

MAY 9 - FISHSUPPER&SOCIAL
EVENING. FISHERMEN’S CO-
OP HALL in LADNER. SAT.
MAY 9th at 6 p.m. Proceeds
to ‘PT’ Drive. Everyone Wel-

~ come.

MAY 13—Hear NIGEL MORGAN,
B.C. Prov. Leader, CPC—re-
port on his recent extensive
TOUR OF THE SOVIET UNION
on WEDNESDAY, MAY 18 at
8 p.m. NORQUAY HALL
(Kingsway and Slocan), Every-
one is invited to attend, AUSP.:
Kingsway Club, CPC. :

MAY 14—Hear NIGEL MORGAN
report on his recent extensive
tour of the SOVIET UNION
and the THREE POINT PRO-
GRAM of the Communist Party
of Canada. THURSDAY, MAY
14th at 8 p.m. LONSDALE
COMMUNITY CENTRE AN-
NEX in North Van. Everyone

- is invited to attend.

MAY 16th — CABARET NIGHT

will be held at the RUSSIAN

PEOPLE’S HOME 600
Campbell Ave. on SAT, MAY
16th at 8 P.M. Fun, food &
refreshments. Admission
$1.25. Everyone Welcome,

MAY 24 — ANNUAL GARDEN
PARTY at HANNUKSELAS’
17841 - 96th Ave (Townline)
in PORT KELLS, starting at
1 p.m. Good food, music, games
& refreshments. Bring the
family & enjoy a country out-
ing. Everyone welcome. Pro-
ceeds PT Drive — Langley
Press Club. :

COMING EVENTS

BUSINESS PERSONALS

MAY 10th — MOTHER’S DAY
TEA & CONCERT — Russian
Hall — 600 Campbell Ave.
SUNDAY, MAY 10th at 2 p.m.
Everyone Welcome.

Come to the
GRAND SOCIAL & MOTHER’S
DAY DINNER
SUNDAY, MAY 10, 6 P.M,
A wonderful program of films,
music song and drama. Reasons
why you should be there:
1,Support the Press Drive.
2. Treat the little woman to an
exotic 5 course Chinese din-
ner. /
3.Enjoy a real evening of
entertainment for both young

& old, SASAMAT SHOES —
Come. and pay tribute to BOB & & REPAIRS
Ada Towle’s 45th -ANNI- 4463 West 10th Ave _
VERSARY, Phone CA 4-1017

‘CAPITOL HILL HALL (How-
ard & Empire Drive in North
Burnaby) Adm. $1.50, Child-
ren 75¢, If possible reserve now.
Phone HE 3-0034 or People’s
Co-op Books MU 5-5836. Ausp.:
Van. East Press Club.

‘BUSINESS PERSONALS)
ATTENTION NEW WESTMIN-

STER & COQUITLAM READ- -

ERS. Have you any beer or
pop bottles to donate to the
Press Drive. Free Pick-up.
Phone Gordie at WE 8-446”,

$ TRANSFER — 1424 Commer-

cial Dr. Call Nick-AL 3-0727.

Typing done at home
Proceeds to Press Drive
Ruth TR 6-4542 of Trib. Office

IS YOUR CAR, HOUSE or BUS-
INESS INSURANCE DUE? Call
Ben Swankey to get the best
possible policy for your money.
433-8323, es

May 8, 1

REGENT TAILORS LTD. 0
tom Tailors and Ready"
Wear, 324 W. Hastings St
1-8456 or 4441 E. Hast ni
CY 8-2030. See Henry Rat”
for personal service.

WEST END RADIO—Spectsliaie
in TV Repairs, Latest PF
sion equipment used. (F eee
ly OK Radio Service). j :
at 1721 Robson St. MU 3-207

PIANO TUNING & REPAIRIN
Tuning always includes 4 ae
eral-going-over’ (2 ope
tions). SATISFACTION awe’
Guaranteed. Reasonable.
details Phone MU 5-5288 __

‘FOR RENT _

LARGE OFFICE SPACE :
RENT. APPLY; 2643 East

tings St. AL 3-8642.

‘HALLS FOR RENT;
CLINTON” HALL, 2609
Pender. Available for ~.,,
quets, meetings, weddiné®

Phone AL 3-9964. a
RUSSIAN PEOPLES’ HO™ |,

Available for meetings:

quets and weddings at Te A
able rates. 600 Campbell

MU 4-9939.
PENDER

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(Marine Workers)

339 West Pend
Phone MU 1-948!
Large and Small Halls
for Rentals

964—PACIFIC TRIBUNE—Po