*P1

Preserving

Old Buildings The benefits of histohc preservation and rehabilitation of buildin([s wil) be foetfeed this summer in Middle Township, l-ower Township, Stone Harbor and Sea Isle City as a survey of historic sites and buildings gets Underway there under a federal grand

recently received by thecounty.

Hopefully, this attention to old but useful structures will have a beneficial effect for the entire community and county as well as to the owners of the individual buildings. One need look no further than downtown Cape M?y ■Court House, Uennisville, and, especially. Cape May City to stie the beautifying effects of preservation. And in the case of Cape May, there is an economic benefit for the entire community through the income from visitors generated by the Historic District drawing

card

The Herald and The Lam

I’ltCSKHV ATION IS ALSO conservation, so important in today's new era of dwindling, high post fossil fuel energy. An old building can be refurbished and serve new uses with an expenditure of less time. ;noney and energy than tht 1 creation of a new-home, office or storefront And, sinfe our ancestors were closer to nature and paid greater attention to the elements, older structures with proper lot setting, roof angles and large eaves are often more energy efficient than their newer counterparts, built with an eye more to builder convenience than occupant consideration. THKN THERE ARK THE aesthetics: the increase in overall beauty beyond the individual architectural components of proportion, symmetry, shape, form, shadow line, texture, color, vertical and horizontal planes Taken together, too, old buildings usually provide a more beautifying streetscape than most of the homes and commercial buildings thrown up in recent years. And this architectural setting is tremendously important to the psychological (spiritual) wellbeing of the people who live or work in the buildings and who see them each day. Thousands of people get out of the cities each weekend just to see the natural, restful beauty of the countryside. And during any one season of the year, thousands too will travel to places like Dennisville and Cape May to see the manmade beauty of Colonial and Victorian architecture KNERGV. CONSERVATION. COMFORT. Improved economy. Beauty. All are reasons for people to take an active interest in seeing to it that the remaining old, useful structures on the Jersey Cape are preserved and maintained for the benefit of present and future generations To the people of Middle Township, Lower Township, Stone Harbor and Sea Isle City - we urge you to enthusiastically join in that wonderful effort that combines the best of the past with what's best, for the future Preservation.

''S' 'CAPB MAY couwrr

Jofcn H. Andru* II fdlfor ffllllvmj. Atf«m« AcWfliing Olrttqr ®* rr *^ Publlihor FhoffUT-Ull for N«wc or Arfv.M-tl.ln, Information MAOtlMCt Now A Fftofoo t. frWtoy ■ 3 CloMfflorf Arfvortlaln, “ - ^

to Mtor «r artM*. i

Wednesday. May 21. tflSO

fotfora to thm odltor

Graffiti can be The Start of Something Bad by V. McMahon Graffiti (spray paint) is showing up on private property in MiddJe Township (Del Haveri), andhuch makes the area look depressed and run-down Plus, blight adds to depreciation of real estate and home values. Some sort of school program is needed to put a stop to this; and the guilty ones should be made to remove it. It sure is very much in evidence. I just can't see our area going down the drain as has happened in other cities due to graffiti on property It is a very dirty, nasty thing to do. Lett’s respect ALL property. V. McMahon is a Lower Township resident. .

Gov’t Stimulation of Economy Has Created Inflationary Mess

By Heim: Biel

EDITOR'S NOTE — Dr Heinz H Biel, internationally renowned financial analyst. Forbes Magazine columnist tind Janney Montgomery Scott, vice president, predicted .1 believe that there is a widespread misconception over the reasons for the (economic) decline since mid-Fehruary Almost everyone who talks or writes about the stock market cites the truly horrible news: our shame in Iran and our helplessness in Afghanistan; inflation and sky-high interest rat$s; the incipient recession which might not be as brief and shallow as the President proclaims; the general lack of enthusiasm for any of the men who seek the presidency next fall; etc.,

etc. (

But. this isn't NEWS! All of this was very well known, more or. less, many months ago, when the stock market was soaring to new peaks. Nobody paid much attention to all the bad news at that time. Why

now?

NO. THIS fairly steep decline, at least in my opinion, is a perfectly natural, normal correction of some rather wild speculative excesses. We had the same thing happen about six or seven years ago, when the super-blue chips, the nifty fifty, as they were called, came crashing down to reality. The then prevailing multiples of 30 or 40 for such stocks were just as

.But Wrf N**d Th» Rcceulon Bocoum ll'» Good For Th« Economy. And Th* Rooton It'a Good for

Th« Economy It BocouM lt> Bod For Th* Economy. Undortfond?"

become hopelessly

despondent.

Being an optimist by nature — l suppose that’s what a stock broker is expected to be — I am confident that we will muddle through,(Somehow,

once again.

NOW. LET it be clearly understood. I am not trying to minimize the problems that are facing us. They are serious. Very serious. I am not going to pon-

No Administration ... had the guts to wildly excessive as, say. tlflcatt on foreign affaire

the recent 20% prime interest rate last October to most everyone's surprise. He has now predicted a 12 14% prime rate by this fall He delivered tke following address to a large public seminar in Philadelphia last hwnth in the inflationary mess of

today. •

INFLATION presents a far more serious threat to the’future well being of this nation than any recession Recessions do end, eventually. Inflation rarely does; it just gets worse. It is only since we reached the double-digit stage that people woke up and started to scream, I have been screaming for years, loudly, as readers of my FORBES column may know, V I am not going to bore you with an economic treatise on inflation. Let me just say that inflation is not caused by high prices and high wages, as Mr. Carter and other proclaim. These are only symptoms, the consequences of inflation. The true causes are: irresponsible fiscal policies; unduly accommodatii.g Federal Reserve monetary policies which aided and abetted the vast expansion of credit — public, corporate and individual; and a tax structure .which penalizes the savers by taxing his interest income and subsidizes the borrower by making interest payments

a tax deductible item.

ENCOURAGING consumption may have had some merit in the days of F.D.R.'s New Deal. Today

way I see it, means lingering, and that is not

good.

I EXPECT the recession to spread, although on an overall basis it will certainly not be as severe as what hits autos and residential construction I sincerely hope that we will permit natural economic forces to runf their course. Unfortunately, we did not allow this to happen in any of the numerous recessions

the recent silver price of

over $50 an ounce.

The point IJm trying to make, ^indeed to emphasize, is that what we are experiencing now is nothing terribly unusual. Granted, the future, as far as we can see ahea0, looks bleak. Yet, motif of us have gone through so many periods in our lives when the outlook was as bleak as it seems today, that it is surprising that we have not

tbd SOVEREIGN STATE of AFFAIRS

It seems rather pointless at this stage. Let me just say that the outbreak* of a World War III is highly

improbable.

The recession. The homebuilding and the automotive industries are already in a recession, and it is a pretty bad one. But, the worse it gets, the sooner we’ll see the turnaround I do not go along with the belief that “shallow” means brief. Shallow, the

« a ixcw LTOII. i keep their hands off the economy. * of the post- World War II • “

era. We aborted them. We

cut them short.

No Administration, not even Eisenhower's, had the guts to keep their hands off the economy. They submitted to the combined pressures of labor and business They '’stimulated'' the economy even when there was no need, or no longer a need, to do so. That, ladies and gentlemen, is one of the main reasons why we are

it is just plain stupid

Right now, all politicians running for office talk about balanced budgets, frugality in government, etc. But the political heat isn't on yet. Just wait and see how the tune will change, when the unemployment rate creeps up to,

say. 7'*,%. ^.

Fed Chairman Volcker not only understands what it is all about and knows that inflation presents a

(Page 27 Please)

BOYD

WHY All THE RESENTMENT ABOUT Hi SPANKS VMO RE ENTERING THE COUNTRY? /

YOU’VE GOT ME. VMVE AlWAYS WELCOMED PEOPIE FROM OTHER IANOS