Page 4 The Herald, Tuesday, August 19, 1980 : / | @ - TERRACE-K da General Oflice- 635-6357". - Clreutation. 435-4357» postage guaranteed. Published by -Storting Publishers || PUBLISHER-CalvinMkCarthy |: EDITOR. Greg Middietoen CIRCULATION: TERRACE - 635-6357. Published every weekday at 3212 Kalum: Street, Terrace, B.C. Authorized as. second class mall. Registration number 1207. Postage paid In cash, return © any NOTICE OF COPYRIGHT . OT : The Her ald retalns full, complete and sole copyright in | advertisement produced and-or any editorial or * photographic content. ‘published In the. Herald. Reproduction Is. nat permitted without the ‘written that Premier Bill Betinett is “Ottawa Bashing”. As I see it, what has really happened is that Ottawa, after having spent all its money and creating a huge deficit, sees the opportunity to gain much additional income . by‘ at- tempting to implemént an export tax on energy. . Yet, the revenues from, our resources (and energy is" of E |! $750 million, “ddd, to that ° potentially our richest resource of all) have been . ‘guaranteed under.” ‘the present constitution (the . BNA Act) to belong to the provinces. In my opinion, our Premier, along with the: Social Credit Government, is trying not only to prevent Qftawa from taking away what is rightfully ours, but also pointing out that. this does ‘wot make us “Un- Canadian”. ‘ Do you realize what this tax would cost the people of British Columbia? It would cost in the neighbourhood of $750 million per year, or $250: for every man, womasi, and child in the province. Ken Ball,- reporter for The ppg rent pointed yihet B.C. w ve ps het B.C. wont ithe the difference. Following are some of the options available: on ‘Increase the provincial sales tax from the present four percent to nine percent. Trading dustry to the point that” it i". herald — ly herald|| permission of the Publisher. LETTERS TO | || THE EDITOR J} = Dear Sit: oe “Double the domestic price ye In the past several weeks ofnaturalgas,; == wehave allheard, read, etc., -Tax the gas and oil in- - oe mé -province, ‘a spokesman said. “Increase the price for J. Y electricity within B.C. Not’ very pleasant’ alter- natives! ' British Columbia and Alberta already carry the heaviest load in equalization . casts. Under ‘the present federal system, the total cost of federal tariffs to B.C, is another $190 million in costs : due to the protection offered Quebec and Ontario in the. clothing and footwear in- dustries, and you come-close . to $1 billion - $1 {000,000,000 - annually, How: much must. > we be asked to bear? If the Heritage Fund: “of Alberta would be turned over fo the . federal government now, it would be gone in 46.days - © that’s right, 4¢days! Itisfor — that type of mismanagement of taxpayer's dollars that the‘ federal government ‘wishes to impose the export tax - for no other reason, If you have managed to decreae that deficit, and not at ourexpense. ; Lea Babr (Mrs.: system | i . | (Vs is nothing new: Sr. JOHN'S, Nfld, (CP) + Barter, the cash-frea ex- change of goods and ser: | vices, 1s on ‘the increase in North America . but it's nothing new te Newfoundlanders, especially fishermen and fish mer chants, who have practised it for centuries. . In the old days the ex- change of fish for. food, fishery supplies, clothing and household items was often a viclous system that left fishermen in the grip of merchants for a lifetime. - The merchants sot only had fishermen cornered, they also controlled people who worked for them and set the value for farm produce and forestry products.’ By controlling the people. they. controlled the communities in which they operated. Trading-in Newfoundland was more commonly known aa credit. If a fisherman had a bad season he may have - been obliged to go to a merchanifor food in the early winter and would not have flsh to exchange for goods received until late summer or early fail. The merchants usually put a high markup on their long: term dealings and set the value af the f{lshermen’s harvest on a take-it-or-leave- it basis. ; During the Depression, . le went from door to door offering fish, garden produce, firewood and other wis in exchange for used clothing, footwear, household items and food. Money was tight until Newfoundland entered Con- federation in 1949, at which ‘ polnt family allowances, old- age security cheques and other benefits came pouring ok Sire ete . Prior to 1949,“the mer- chants were the. only people who realized any: large amounts of cash, | * ‘They banked it or used it to build impressive homes and, send their families to. the best educational {nstitutes. Occasionally, - fishermen" and merchant employees would be alloted small amounts of cash for. such. things as doctors bills, church contributions or. to attend socials... - ‘In such cases the mer- chant would ask . those requesting ‘cash what they needed it for. JE it wae to attend a social held in connection with the church the merchant attended, the request might be granted in full, If the social was for the benefit of some. other denomination, however the cash grant could be cut in “half of refused completely. The barter, or, credit system, still prevails and is. more widely used that most’ people realize. "There were scores of barter and credit firms along the Newfoundland coast but many fell victim to the Smallwood government era of re-settlement, Whole communities moved to other ereas and merchants leit 4 > But Prime ‘Minister -"Trudeau said after oil- '; amount to “a declaratio ediern "definite delay,”' Ati. - . ‘ptarting’any war"? over . { . ' EDMONTON. (CP) — Tye Canadian oil industry retmains caught in a erjsstire as the verbal _ war between Alberta and .of Canada's oll and-natu- ‘Tal gas. a Tn Edménton Monday, Ot/tawa continues over an ' ~ , chairman of Imperial Of fn ahaa _ Ltd, said his ‘company | Mi Mberta Premier Peter ™AY, have to-recensidt Laughed fired the Intest, _ [18 S#billlon a sands project proposed for Cold broadside Saturday. He © .tigtd. the Gist ‘annual noeeting of the Canadian, Cimmuulty, Newspapers - dkssociation in Edmonton . thiat @ natural gas. expert tnx in the expected fall fisdéral budget * would -Alberta if the federal- provincial confrontation - leads to 8 delay. .we cannot afford “in- gf war" against W . Canada. _ ptrong told a news confer- pricing talks with Alberta -inded in failure July 3 What’ Ottawa will not be ." Haynes, president of Esso Resources Canada ‘Ltd., ‘would add about $1 billion he issue with the. - " province which has moet. Jack Armstrong, — projonged . gaid each year of delay — to construction | costs: . Lake in northeastern" — “We certainly bope the - Aug project will go ahead, but. » QM. . _ . Armstrong and Arden - - 140,000berreisofoiladay During pricing. talks co “domestic oil price. be . chang ‘ tinilaterally. raised the Airline figures show that. on. . + _ “It’s growing at a far more New Brinawick from a . In Winnipeg, the Manitoba _ record number of visitorain government reported a 12.6- | 1979, sald Jack Syroid of the.” percent increase in the |» province's tourism depart- number of Americans ment. Hotel-and niotel oc- visiting the province this 1 cupancy figures show a four-year. Travellers from cast: * perccent-drop. -ern Canada increased by 22 | Wee westher'is to blame, per cent and from Western an | ngrtietlary e the beach. Canada by 14.9 per cent. | crésort..areas. which have “Canada is becoming & yen ‘hardest bit, he said. . barg jmever; the province will Mullan, 4 researcher at " Jaynch: : an - aggressive Travel Alberta. .“‘The “marketing. . campaign, devalued Canadian dollar {s ‘paying! particular attention - to, attracting organizations Tourism in Banff,. Alta., thal was up 19 per cent to the end TNewfoundland © reported of June compared with the same. period last year. “Tourism increased de per Bsao,. an “Imperial” subp, "ve sidiary, is responsible for, the’ project .to. ‘produce. "Alberta, . Germans are 0,000 bar 4 nd.“'ing-numbers to “from the: Cold Lake”. a result of - beavyoll deposit. ©. ouatpin, resorts cap- ee : t-dmagination,” with Trudeau, de. proposed: + that the raised in stages to 75 per cent . of the..North . -languag American: price. Alberta W per cent in that month last was up 12 percent, Germans . * en es up 30 per cent and Japanese ‘price by $2 a barrel. .” Despite recession, in- up 22 per cent. . The, domestic. Tourism B.C. and the pid pace than any other in- . dustry in Canada,” Duron» ) gaid Fred Me- . - very definitely the cause.” . increase: in -U.S, cent at Waterton and 27 per price under the previous - @ 5 major attractions in the { agreement, which .ex).3/; 8 oY od Vancouver area report more i pired July 32; was$14-75 ema IN Oateno pene. British Columbians are barre -\E the. province's --tourigm.. staying in B.C. for their te EEN, etwoal “ay : ninistry is projecting a five- vacations this year. . For ; natural--.gas,; close” (0 an & | per-cent-increase in the Hugh Main, general Canada’s export price as - «= Hesald the pote "umber of visitors and a 5- manager of the Greater set by Ottawa is $4.47 per. - ine _par-cent increase. in the Vancouver Convention and - thousand . suble -:feet if either Ottawa or ‘amount. the. tourists spend. - Visitors Bureau, said > falephone checks of resort residents from other parts of owners-inssduthern Ontario Canada, particularly On- “| indicate:s one-third increase --tarlo and Quebec, are ‘iy the number. of Ontario . coming to B.C. — Ww. tae or compared. with:-). 8 “sledgehammer tactics.,” domestic price. .of . $2,00 4 ‘The second in.a series of four articles on -_qperating a small business by Gordon Hardy | operating » small business 1s “a'iftle Ike i'Iding a horse’’.,according to Kevin Michel of {he Federal ‘Business. Development Bank, “finding enough money to survive... According * to Michel, themostimporiant source of capital: millions of dollars worth of ~ property behind to be destroyed by vandals or fall ‘to hatural ruin. Some merchanta began to — old game all over again by setting up operations in St. ~ John’s and some of the larger settlements around the bays. Moet of the modern fish. processing plants also do some ‘barter business by supplying fishermen with gear and equipment and take Aaade “oh ie. snag, “4 “You've got to decide very early [n the plece iwho's In charge - you or the horse.” : ©” ; “You have to know exactly what the cash . “needs are in the business vera perlodiof. time," he ‘says. “If you project and review your figures every month, every quarter ‘and every six months, then you've got to, be on the _way to success.” "You've got to hold “those reins Very - steadily. There's no two ways about it. A lot 5 _ of people don't get established for a couple of ‘years and It's not easy. ‘Quite often you might ' think ‘We're not even making five percent on ‘our Investment!’ Probably not In the first ; _ year or iwo, in some cases. But then, that’s ‘the sacrifice you have to decide you're golng to make so that, in the long run, the rewards — will be substantially greater.” - . One big problem facing new businesses Is is the business itself: “A lot of people don't realize this. {t's important to have a very close look at what the business earns and what the Income-producing assets are. It’s sur- prising how .many* businesses get carried away with acquiring assets. which don’t produce Income.” - _ “Another Internal source of capital,” he says, “ls making sure you keep contro! of receivables, making, sure you're on top of collections. You shouldn’t drag your feet as far es collecting from customers. is con- rorna tid . . : _ be prepared tore-Inveat earnings back into the tee ~ riding a horse The. advantage of remaining unin. . corporated, according fo Michel, Is that ‘if the 2 gningorporated company goes down the drain, ;’ -#he proprietor can at ‘least deduct. personal :.-Josses:frgm future Income and wages. This ' jpedyces faxes. With an. unincorporated Gomnpany, you tose the money invested In the i. | "gompany.as shareholder loans.” - | 36: “incorporating @ business under the Com- ‘| ‘Banles:Act:in Victoria Is-a more formal legal : procedure. than. remaining unincorporated. . vantage ‘here In. continulty; If something ‘happens 4b. the original owner, the company: - shill existe. ": Acoording. to -‘gonsider Incorporation - It offers Important . tax Opportunities later on by letting younger family members become shareholders.” This “was the route taken by Doren : “Braverman, ' whose 1975 retall flag store ‘venture in Vancouver Isa flying success: “We have'an incorporated company - | made that ‘phoice when we first started. We had our _ sights good and high. I could see that the'tax advantages of Incorporation were for'us.. Also, have four children and | though that, perhaps _|itime, | might be building 8 little empire that " Wgataovitel, he says, for business people to company: “The first thing. any. lending ‘In. - stitutjon is goingtolook at js:whal you have In there as an Investment In retaining earhings.” And just as a tider must decide what kind of: saddle arid bit. he or shé plans to. contro! the : horse with; #0. does @ business person have to .. ae te Tha siniplen ot these is unincorporated salé easiest way.” : "ff Doreen had waited fil! now or later for her ‘childresi to become shareholders, they would proprietarihip.. This means thet Ghe pérson have to buy thelr shares at “fair market owns the budiness outright. Ina. sense, the: value’. The children can draw off dividends proprietor 1s the business -1W-haor: she -- which are eligible for tax credits. disappbars, 9 does the business. This IS also 0 | the cass with Unincorporated patifarships, Next: Gettina halo tor your hyeiness, . “fhisibusiness becomes a legal entity «a limited - ‘goimpeny, - distinct from ah owner, One ad-- PRCOFGIN: Michel, “Anyone who 18 ina - {aritly situation and who is contemplating a ” . fang-lasting..and successful business should. Reenrees sien jhey:might fit Into. This is probably the: