Down Payments Lowered on New Homes

Washington, June 9-The government today lowered down payment requirements for purchase of all new housing, :ffective Wednesday.

The changes were announced jointly by the Housing and IIome Finance administration and the Federal Reserve board. They apply to all types of residential housing from one-family homes to apartment units.

The two agencies made no change in credit terms affecting non-residential building, but they indicated that some modification is under consideration in that field, too.

The down payment requirements are set under the socalled regulation X, which is administergd by the Federal Reserve board.

No change was made in the time limit on payment of mortgages. On properties valued at $12,000 or less, the mortgage must be paid off in 25 years. On higher-priced homes, the limit is 20 years, except that veterans may get an extension in hardship cases.

Following are the old and new down payment requirements ot-r one-to-four family homes in I'arious price ranges for veterans and norr-veterans:

Ceihng Prices for Prcservatively Treated West Coast Fir and Hemloclc Lumber

New ceilings for preservatively treated Pacific Coast fir ancl hemlock lumber were anrlounced May 29 by the Office of Price Stabilizatton.

The ceilings are prescribed in Supplementary Regulation 102 to the General Ceiling Price Regulation (GCPR), effective May 31.

They apply to all lumber under Ceiling Price Regulatiqn 128 (Pacific Northwest Douglas Fir, True Fir, and \\rest Coast Hemlock Lumber), when preservatively treated, irrespective of u here the treatment is performed.

CPR 128 spells out dollars-and-cents ceilings for untreated lumber cut from such species in California and in the parts of Oregon and Washington in and west of the Cascade rrrountains.

Wholesde Lunber and its Products

Preservative treatment increases the life of wooden materials exposed to decay and insects, such as those used in bridges and docks, up to as much as 10 times. Creosote is the most commonly used preservative. Salt preservatives consisting of certain chemicals dissolved in water or ammonia are also employed. Salt preservatives are also used to render lumber fire resistant.

The industry consist of about 122 plants, which treated 98,600,000 board feet of Douglas fir and 260p00 board feet of hemlock lumber in 1950. Normally the selling price for treated lumber is determined by adding a charge for treatment to the cost of the untreated lumber.

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BRANCH

Interior-type: Fot walls, ceilings, cabinets, builtins; for sheathing and subflooring.

Exterior-type.' For siding, outdoor signs, farm structures, boats of all sizes and shapes.

Sea Suirl (interior and exteriot). A beautiful decorative plywood for remodeling and new construction.

Vertical Grain (interior and exterior).

Mabo gany-f ac ed Plyuo o d (intefior)

Handy Panels (interior and exterior).

Plyron (interior and exterior). Plywood core between hardboard surfaces.

SALES justice would reverse or wisdom deplore." And no great act which his country would annul. Is it any wonder that this nation holds in utmost reverence the memory of such a leader?

In these times, when men appointed to high Federal office are so frequently the storm centers of political controversy and they come and go at a rate seldom known before in our history, the experiences of George Washington as President, can be reviewed with much satisfaction.

"Oo..t the appointments made by the Father of his Country when he assumed his high office for the first time. He says: "V/ith the sure sagacity of a leader of men, he selected at once for the three highest stations the three chief Americans." It was the three top players on the first team that Washington called to his side when the fate of the young nation was plain$ at stake.

George William Curtis

Says Curtis: "Hamilton *", an" head, Jefier"or,'*", th" heart, and John Jay the conscience of his administration. Washington's just and serene ascendancy was the lambent flame in which these three beneficent powers were fused; and nothing else than that ascendency could have ridden the whirlwind and directed the storm that burst around him."

What happened to the ;*:, *"" and his three great lieutenants, Curtis tells in this way: "Party spirit blazed into fury. John Jay was hanged in effigy; Hamilton was stoned; insurrection raised its head in the West; Washington himself was denounced. But the great soul was undismayed. Without a beacon, without a chart, but with unwavering eye and steady hand, he guided his country safe through darkness and through storm.

"He held his steadfasa .^I",*tro. the sun across the firmament, giving life, and health, and strength to the new nation. And upon a searching survey of his administration, THERE IS NO GREAT ACTWHICH HIS COUNTRY WOULD ANNUL: NO WORD SPOKEN, NO LINE WRITTEN, NO DEED DONE BY HIM, wHrcH JUSTTCE WOULD REVERSE, OR WTSDOM DEPLORE."

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Read those last lines over again, and the conclusion will inevitably come, that seldom in the history of the great leaders of all time, has there lived a man concerning whom those words could be truthfully spoken. A nation that knew such leadership in the beginning has had planted ineradicably in its soul the elements of incomparable greatness, as has come to the United States. It was a heritage sublime. *rf

"No word spoken, no line written, no deed done which

And Curtis concludes: "To lead a people in revolution wisely and successfully, without ambition and without crime, demands indeed lofty genius and unbending virtue. But to build their state amid the angry conflict of passion and prejudice, to peacefully inaugurate a complete and satisfactory government-this is the very greatest service that a man can render to mankind. And this is also the glory of Washington."

And this ends one of the greatest testimonials ever written or uttered concerning an American. He was indeed the Father of his Country-and its inspiration.

It was Benjamin pr"rrtoil Jno orr, suggested the title "President of the United States" for the chief executive of this nation. He made the suggestion when the nation was just a-borning. And it was reported that the same gentleman, with a twinkle in his eye, suggested that the Vice President be called "His Most*Superfuous Highness."

The Purple Heart was created in a special order by General George Washington on August 7th, L782, and was to be a reward for "any singular meritorious action." At least, that's the way we recall the facts. After the Revolutionary War the order was forgotten, and was revived in 1932 by President Herbert lloover to designate a wounded combatant. The new order became effective on Washington's birthday, February 22nd,, oL that year.

Thomas Jefferson ""ia t 1'tl gain leisure, wealth must first be earned; but once leisure is gained, more people spend it in pursuit of pleasure than employ it in acquiring knowledge."

And Uncle Mose is crediting with saying: "Hit may be hahd fo' a rich man t'git into Hebin; but hit's a heap sight hahda fo' a po' man t'stay right heah on de yearth." **

A handfui of pine needles will cover mountains with the majesty of great forests. I, too, will set my face to the wind, and throw a handful of seed on high.-Fiona MacLeod' ,r ,c

Thomas Paine wrote: "When it shall be said of any country in the world: 'My pgor are happy; neither ignorance nor distress to be found among them; my jails are empty of prisoners, Dy streets of beggars; the aged are not in want; the taxes are not oppressive; the rational world is my friend because I am a friend of its happiness,' -when these things can be said, then may that country boast of its constitution and its government."

**

Napoleon uttered one of the most controversial opinions concerning the value of leadership that history has any record of. Warriors and philosophers alike have been debating it ever since. He said that an army of sheep commanded by a lion could defeat an army of lions commanded by a sheep. The Emperor no doubt had himself in mind x'hen uttering that opinion.

**

A well informed man, talking on the cost of war, remarked the other day that eighty-five per cent of every Federal tax dollar goes to pay for just three things; the cost of past wars; the interest on those debts; and the cost of present defense. Think of it. Eighty-five per cent of all those billions go to pay for war, and preparations against war. And all because mankind, striving for and praying for peace as the large majority of men do, have thus far failed to find it possible to live up to the philosophy of the old revival chant-"Ain't going to study war no more-"

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War remains, of dire danger and necessity, one of our biggest and foremost studies. So we must work and pray that there shall come into being and into action, some international organization that will find ways to substitute the rul'e of law for the rule of force. ft would seem that only in this fashion can we hope eventually tolift the present destructive burden of war taxation from our people. And that that burden must be lightened is a fact that requires no master financier to demonstrate.