The hide ithin a month or two the peak motoring season of the year will again be upon us, This spring it will coincide with growing tens of thousands of uniden- tified death traps at large on B.C. roads since the abolition of com- pulisory vehicle testing last year. Supporters-of the abolition argued at the time that only a small percen- tage of .accidents were caused by mechanical failure. They. blithely ig--—- nored the very togical probability that this was a direct result of the compulsory testing itself, which ob- viously uncovered many mechanical flaws before they reached the danger — stage. It’s equally logical to assume that freedom from testing since last sum- mer has sharply increased the drive the month. number of faulty braking systems, defective steering assemblies, out-of- ‘Tiet, VINCE OF NORTH AND WEST VANCOUVER sunday Display Advertising 980-0511 STAB. classified Advertising 986-6222 north shore Newsroom 985-2131 news | Circulation 986-1337 Subscriptions 980-7081 1139 Lonsdale Ave., North Vancouver, B.C. V7M 2H4 | Publisher Peter Speck Associate Publisher Editor-in-Chief Advertising Director Robert Graham Noel Wright Tim Francis Personnel Director Classified Manager Circulation Director Berni Hilliard Val Stephenson Bill McGown Production Director Photography Manager Chris Johnson Terry Peters North Shore News, founded in 1969 as an independent suburban newspaper and qualified under Schedule Ili, Paragraph Itt of the Excise Tax Act, is published each Wednesday, Friday and Sunday by North Shore Free Press Ltd. and distributed on Wednesdays and Sundays to every door on the North Shore and selectively on Fridays to businesses. real estate offices. various public locations, vendor boxes and newsstands. Second Class Mail Registration Number 3685. Entire contents € 1084 North Shore Free Press Ltd. Al! rights reserved. Subscriptions North and West Vancouver $25 per year Mailing rates available on request No responsibility accepted for unsolicited material inctuding manuscripts and pictures which should be accompanied by a stamped addressed envelope Member of the B.C. Press Council $4,700 (average, Wednesday & Sunday) Pe crs << oe <5 Goa ee 0% §,400 (F riday) en 1 hazard alignment wheels and bald tires bar- relling along our highways and byways today in search of a crash. Moreover, current economic condi- tions (especially record unemploy- ment) do not encourage voluntary maintenance by financially strapped The outlook is for this hid- den traffic menace to grow worse by The ‘government institute- compulsory testing for- thwith. Either by re-establishing its own testing stations with the negligi- ble $5. fee doubled or even quadrupl- -ed. Or by imposing a standard fee for inspection by private service stations *— which would benefit from resulta- tion repairs. ‘The rapidly increasing hazard for ALL road-users is too serious for Victoria simply to wash its hands of its responsibility. should = re- WOULD SOU. MIND TRKING YOUR PETS WITH Jove... y ET RID of the Bank of Canada? Yes, this is the latest conclusion that follows from the revisionist economists. They have concluded that Canada would be better off if private enterprise would sup- ply all of the country’s need for cash balances. The revisionist thinking has two cornerstones. One is that economic instability before the creation of central banks was less than after- ward. Economic historians dug deeply into 19th century Statistics and calculated the variance of real economic output. For Germany, France, and the United Kingdom, the instability was less than in the 20th century when central banks managed these economies. Only for the United States was the case reversed. But even there, a_re- examination of the history of free and wildcat banking should lead to a revision of thinking of conservative By HERBERT GRUBEL textbooks. It is true that there were many private banks that had isued notes payable on demand whose address turn- ed out to be a Nebraska lot where wildcats roamed. But researchers found that public losses were much = smaller than earlier work had im- plied. Many of the bank closures of the period were, in fact, orderly dissolutions of business that brought no losses to depositors or stock- holders. The second cornerstone of the revisionist thinking on the_ limit of central banks is the theory of regulation. Accor- ding to it, the economic in- stability under central bank management is no fluke: it cannot be expected to become better because the sytem is wrong. The system permits politi- cians too much _ influence. Through them, special in- terest groups get to use it for their own benefit. The results have been periods of excess money creation causing booms and inflation, follow- ed by painful readjustment to price stability. Consider the massive cycles of this century — the Roaring Twenties followed by the Great Depression of the 1930s, the Prosperous Sixties led to the Inflationary Seventies and were followed by the Stagfla- tion of the Eighties. Faulty monetary policy caused them all. One conservative remedy for these rollercoasters has been the proposal to limit central bank discretionary power. This would be achiev- ed by mandating money sup- ply growth rates in the constitution. But’ this) approach still Lord Stanley would Graham Lee turn in his grave! Dear Editor: Lord Stanley would over in his grave, tne teal natural turn playground for thase animals if he knew penned up, is) in God's how the Vancouver Parks wonderland, the forest of our Board) commusstoners have — beautiful British Columbia permitted private enterprise In order to rectify this selfish concerns to encroach deplorable sttuation., a upon our publicly owned plebiscite before the next Stanicy Park municipal election will attard The Aquattum with Mr and Mrs Citizen the numerous aniunals cruclly chance (0 have an important held in captivity by sadistic Opinion cxpressed, as to individuals and the cqaually limiting the authortly of all ctucl state of Captivity of the Vancouver Parks Board com intelligent hifler whales missioners, as well as Greedy moncy graspers chminating private concerns through the consent of the operating Ferguson Portnt apathetnm parks board com. Restaurant and the missioners intend to extend Aquarium then caplottanon of our park A newly clected parks by constructing a larger cap. board will be responsible for tive pool for the killer having Vancouver Board of whales Parks and Recreation person. How inhumane are those nel manage and opcrate these responsible for such establishments Judicrous actions! To protect Stanley Park In my opinion the kaller from pollugon all buses, cars whales should be teleased in and motorcycles should be to the occan where they prohibited within the park belong arca The existing road would be exclusively used by park owned horse-drawn rubber tire passenger buggies which would be used to convey the handicapped, senior citizens and tourists around the park The remainder of the bug gies marked “Pubho’ would service the general public The only potlution thas would create would be horse manure which would be dug into the cnhoourage a profusion of blooming Mowers People who ride bicycles should have their own bicycle Mower beds cto te path, thereby leaving the seawall for pedestrian use only Should we adopt the afotesand constructive sug gestions, Stanicy Park wall be known throughout this universe as paradise found” Lloyd Phillips Vancouver the best bet Dear Editor This leadership contest concerns two fundamental items: the direction of our party and our ability to win the next provincial election It’s that complex and that simple. Which is why | urge support for GRAHAM LEA tor our new leader The fact as that the people of B¢ perceive both the NDP and Social Credit as be Ing partics of special interest groups And the results of the last three elections should tell us that the majority will vote for “Bustness’ when the chips are down But the people a party that will be a party of the people, and they want, as we should want, leadership that they can call ther own want We have to gear our social democtati belets to the tuture, both ain the short and the long term The LEA Team understands that the future should mean that the first steps in the development of a ‘‘humane"' society are taken. Although our political system 1s different from the Americans, the lesson to be learned from the meteor mise Of Sen Hart over the “shoe in’? Mondale should not be lost Mondale, while perhaps the favorite of party activists and. large special in terest groups, ts being sound ly defeated by Democratic voter We must Pay attention What our voters want is leadership and the NOP They don't out of date chetone of of date polures, they want a “common sense’ approach to government based on ous fundamental valucs Graham Lea and the NOP can and will win' the watil aul Rachard Black burn North Vancouset leaves the banking industry in the clutches of regulators. As a result, there will always be efficiency losses and system abuse by special interest groups. These kinds of ideas have led Milton Friedman to pro- pose the abandomment of the Federal Reserve system of the United States. He would have existing U.S. currency main- tained at its current level. Commercial banks’ reserves, which determine the quantity of checking deposits in ex- istence, would also remain fixed. Friedman believes that the financial system would come up always with more ef- ficient ways to use the ex- isting money so that there would be neither inflation nor deflation. **The System permits politicians too much influence. Other cconomists go even further They see no need for government money of any kind The private sector can be relied upon to select an ef ficient standard of value and himat of account) The modern informauion industry would assure that there would be few wildcat banks and low costs oof handling private moncy The efficiency and stability of western market cconomcs would be enhang ed greatly Is this all a Don't bet on it pipedream” The US de- tegulation of the ateline, bus, Iclephone and much of the sccuritics industries started with suchiadeas But don't try to buy the Bank of Canada building quite yet (Dr Grubel is professor of economics at Simon fraser Cnmiversity