Buffalo Criterion, 1985-02-27

              wednesday h'hhiaki 27-marc 11 -.. ■••>- _* hi t - i»f tjg n 25 vo 60 — no 3 rochester wny's necessary minority newspaper - featuring paid legitimate circulation the buffalo criterion niagara region fa kemp says monetary policy helped to bankrupt farmers congressman has one question for chairman volcker washington d c — congressman jack kemp r-ny last week charged that the federal reserve's deflation ary policy is directly responsible last year and this year for bankrupting hund dreds of thousands of american farmers kemp's statement coincided with federal reserve board chairman paul volcker's scheduled annual testimony to congress on monetary policy when chairmar volcker testified a year ago i wrote him an open letter called six questions for chairman volcker kemp aid this time i have only one question isn't the federal reserve primarily responsible for the crisis in american agriculture the answer is clearly yes " kemp said the farm crisis is the worst in half a century tbe notion that american farmers arc-somehow responsible for their plight is ridiculous after watching the family business turned into sheer speculation by a decade of inflationary federal reserve policy farmers are now being hit by high interest rates a surging dollar and outright deflation ik«njr>_mijrf it's as if having run over someone in a car the fed decided to fix things by backing up over the victim kemp said a year ago i warned of a noticeable slowdown in gnp growth and deflationary trends in several price indexes " kemp said mr volcker did not respond but his answer eventually became clear minutes of the federal open market committee show that the mc moved to lighten money last february and march to slow down real economic growth fearing that too much growth causes inflation the results since chairman volcker testified last year the dollar has risen almost 15 percent general farm prices have fallen 7 percent and prices for crops have fallen 14 percent since may dow jones spot commodity prices have fallen 11 percent the bellwether price of gold has fallen by almost a third kemp said this is not disinflation this is deflation kemp said the fed has slightly eased lately but interest rates are still too high this is clear from the fact that the dollar is almost daily hitting record highs against the strongest foreign currencies mone tary policy is killing american farmers commodity producers and manufactur ers by artifically pricing them out of world markets kemp said our policy is also hurting our trading partners and threatening the climate lor free international trail kemp said the latin american debtor countries are squeezed every time the dollar rises the united kingdom and west germany have been forced to hike interest rates despite double-digit unemployment over the weekend there were actually rumors of european exchange controls — which would devastate international trade kemp said kemp called upon the fed to stop targeting tin domestic money supply or domestic economic growth anil instead take his cue from commodity prices and the exchange rules agamst strong foreign currencies if mr volcker thinks the e-xlating l\>_hti-*!«on_t mandate concerning money targets is too confining we can change it kemp said the policy 1 have consistently advocated would stop the dollar from rising and keep it from falling it would bring down interest rates stop ta_^_n'ln^_nrr\aides and tne d._ti_tion of other commodity prices kemp said right now the dollar has no stable or predictable value and the result is devastating we should be moving toward an internationalist reform of the world monetary system to stabilize exchange rates — not encouraging beggar-thy neighbor tade protectionism and exchange controls with distruptive policies kemp said kemp noted that volcher recently stated that budget cuts of 50 billion would permit interest rates to fall by two percentage points if mr volcker would allow interest rates to come down two points we could cut the deficit by more than 50 billion kemp responded there would be less spending on unemployment farm price supports • export subsidies bank bailouts debt service and other manifestations of misguided monetary policy the slowdown in real growth alone in the past year is worth more than 50 billion in lost revenues and higher spending kemp said a change in federal reserve policy toward greater stability of prices and exchange rates is essential — for our economy the rest of the world and even the budget kemp concluded deacon leo w seymour to be honored the church school of the faith baptist church will honor deacon leo w seymour for over fifty years of service to the church on friday march bth at the kensington place 377 kensington place deacon seymour has taught sunday school for over fifty years has been singing in the church choir for over thirty years ushered in the church for over 27 years studied christian education with the alabama state convention in the late thirties studied with the notional baptist conven tion after world war b la studying with the national baptist congress of chris tian education and the empire state sunday school and baptist training congress and the national united ushers convention of america inc at present mr sey mour teaches an adult sunday school class in the faith baptist church and is chairman of the deacon board of the church he is also quite active in the community he is president of the glen wood-fillmore block clubs united is a member of the masten block club coali tion is a volunteer at the deaconess hospital mr seymour also worked as a volunteer for meals on wheels he firmly believes that to grow you must know deacon leo w seymour march 10th meeting set the american muslim mission dowah commit tee extends an invitation to muslims and supporters interested in the establish ment of an american muslim mission center in buffalo to please join them in a meeting at the langston hughes institute conference room 25 high st on sunday march 10th from 5 to 7 p.m refreshments will be served community gospel hour program slated the community gospel hour's second sunday program will be held sun mar 10th at 5 p.m at the unity baptist church 183 sycamore st rev guy graves is host pastor guests participating on the program are the apumtlm shift of jeaua christ organization of cleveland ohio the mighty rightous souls the corinthians gospel singers the chosen few gospel singers the gol den tones the union stars the christian travelers and the burton singers all from cleve land ohio tickets for this great service are 3.00 in advance and 5.00 at the door for more information call the community gos pel hour office 882-9609 or come to the office at 432 east ferry st on march 17 the community gospel hour is sponsoring a day in cleveland for only 23.00 the tickets include the trip to cleve land a licet to the rogram lid tiinnnr for reservations or in formation call aaron hud son at 882-9609 or visit the office at 432 e ferry st alumni invited to reception all alfred state college alumni in the buffalo area are invited to a reception from 5 to 9 p.m friday mar bth at the holiday inn downtown 620 aye the event is sponsored by the buffalo alumni chapter and the alfred state college alumni association hors d oeuvres will be afro-american historical society held awards dinner the afro-american historical society held their annual awards dinner recently at bethel ame church ferry and michigan aye the guest speakers were atty and mrs arthur anderson awardees were lavern clay karima amin and prof james papas the affair was well attended chairpersons were prof monroe fordham sharon holley and „ madelyn easiey the first photo from left shows atty and mrs anderson prof papas karima amin lavern clay madeline easiey sharon holley and dr shirley harrington the second photo shows from left dr judy jones mrs eva doyle mr hakim ruth wataon romeo doyle and bro simba mlee the lady second * from right is unidentified — criterion photos deacon tillman wilson passes deacon tilmon wilson 75 of butler avenue was buried thursday feb 21st at 11 a.m from mt ft flapttst church 72 wasson aye in lackawanna n v where he devoted much of his time he was a member of the trustee board and did many odds and ends around the church and looked out after many minor repairs bro wilson was a staunch supporter of the buffalo criterion newspaper at the church and built up the sales of the paper at the church before he passed he turned over the sales of the paper to deacon eddie walker who also is doing a tine job a world war ii veteran bro wilson died in his sleep at 1 a.m at the v'et(t_r.-i hospital monday re 18th 1985 brother wilson was the son of the late solomon and harriett ward wilson and was born on may 12 1910 in mark mississip pi during world war 11 he answered the call of the times and enlisted in the united states army during his tenure in service he was a sergeant and was honorably dis charged with many cita tions he was united in holy matrimony to the former minnie lee blackburn after the war he journed to lackawanna n y he joined the mount olive baptist church under the pastorate of the rev s b sutton during his early year at mt olive her served on family & friends gathered to show appreciation an appreciation service for cuz-n-luke given by the community was held recently at mt ararat baptist church cuz-n-luke of the gospel five is part of the gospel community hour and sunday morning services at 9 a.m on radio station wblk ; » - shown in the photo from left are don allen of wblk c__-n-luke and family and sonny means reception i see page 4 deacon wilson see page 7 v serving working leading in wny inner cities i since 1923 price only at 20 per copy a