role in encouraging banks to share the responsibility for avoiding the long-range social costs of unemployment. “There is a divergence of interest between the stockholders of the banks, who want to make as much money as possible, and the residents of the state,” he explains. “But there are things city and state governments can do to decrease the divergence.” One such idea currently being formulated into a bill in the state legislature is that of a linked-deposit policy. This would require that the $1.2 billion in public moneys scattered in banks throughout Oregon by the state, county and municipal governments be deposited only in banks that agree to participate in a statewide plan targeting high unemployment areas for higher-risk loans. Four states — Illinois, Missouri, Colorado, Massachusetts — currently have such a policy. Street suspects that while big banks such as U.S. National and First Interstate could afford to ignore a linked-deposit policy, several smaller banks in the state would jump at a chance to share in the public money accounts. Street sees U.S. National’s expansion into nine states as an “exporter of financial services” as part of a pattern of capital mobility that corporations have been pursuing since the early ’70s. “The nation as a whole is suffering because of the increased velocity of capital movement. Every corporation and every bank in this country is surviving on the basis of short-term finance management. We are making money off of money The problem is not lack o f investment money. Theproblem is the refusal by American business to invest money into production to create job opportunities in this country. We have, in effect, a capitd strike. instead of making money off the production of goods and services. “The problem is not lack of investment money. The rate of savings is approximately what it was ten to wenty years ago. The problem is the refusal by American business to invest money into production to create job opportunities in this country. We have, in effect, a capital strike. This depression is happening for a reason. Capital will continue to refuse to invest until it gets what it considers a normal rate of return.” Street believes that big business experienced a profit squeeze in the early ’70s caused in part by the successful push by labor unions for higher wages after the economic boom of the '60s. Corporate owners are now demanding, and often getting, wage roll-backs as the price for keeping their industrial plants open. Our recent experience with the Portland-based Hyster Corporation is but one of many examples. Clearly, it’s impossible to isolate Oregon's problems from the rest of the nation, and one bank should not be blamed for the national economic trend. We have concentrated on U.S. National here simply because they are the state’s largest bank, and they brought attention to themselves in their publicity campaign asking Oregonians “Are You W/th Us?” Now that the campaign has officially ended, maybe U.S. Bank will take a look at some ways to assist the Oregon economy in a more meaningful manner. “If U.S. National really wants to help Oregon,” declares Street, “they should keep their money home and put more effort into investments and loans that decrease the divergence of interest between corporate welfare and public welfare. If they really want to be with us, maybe they should share our suffering...” ■ Rick Mitchell is a Portland writer of music and politics BREITENBUSH^M ph / COMMUNITY k HOT SPRINGS RETREAT CONFERENCE CENTER Spring Schedule Course in Miracles $75 April 15-17 Barbara & Robert Varley lead Christian meditations and inspiring music. To register, contact Helen Bibelheimer, 1929 Wiessner, Salem, OR 97303; phone (503) 343-4754. Folk Dancing $50 April 22-24 Teachers & musicians lead dances from many times & places. Way of the Heart $110 May 13-15 Unconditional love, forgiveness, facing the illusion of separateness. For information and to register, call Bob Braun or Lynn Jackson in Portland at (503) 249-8140 or 235-1344. Healing with Sound Workshop $60 May 13-15 With Leah Garfield, well known teacher from Eugene. Memorial Day Celebration of Pacifism $65 May 27-30 "Let Peace fill our hearts, our world, our universe." — Mother Theresa. We will be assisted by workshops and the Breitenbush environment. Lama Sogyal Rinpoche $75 June 3-5 Weekend workshop on giving and receiving, compassion, and working with emotion, led by the venerable Tibetan Buddhist master. Vipassana Meditation Retreat $175 (or $20/day) June 10-19 Ruth Dennison leads nine days of mindful silence in the Buddhist tradition. Beginning & experienced meditators welcome. Who Dies? $180 June 24-28 Ondrea & Stephan Levine from the Hanuman Dying Project. This workshop will fill early, so register soon. Oregon Summer Healing Retreat Donation July 1-4 Again an annual opportunity to share and strengthen our healing skills. All welcome. Contribute $20/person and bulk food if you can afford it: if not, come anyway, but PRIOR REGISTRATION IS NECESSARY. Call or write: Breitenbush Community P.O. Box 578, Detroit, OR 97342 (503) 854-3501 (message: 854-3715) 32 Clinton St. Quarterly Lunch, brunch dinner & tea ... .in the neighborhood Duchess j Burnside- 2924 e - burns’de 232-9022 Chocolate Moose Tavern & Steak, Cellar Steak & Pot Roast Dinners 5:30-10:00 Tues.-Sun. 21i S.W. Ankeny 222-5753 Tavern Open 11:30 Daily Recorded Jazz & Classical Music °La Patisserie | cAn Espresso Cafe | DESSERTS • LIGHT LUNCH SODA FOUNTAIN Mon-Sat 7:30 am to Midnight Sunday 11:00 am to Midnight 208 N.W. Couch • 248-9898 236-7729 Boots, hats, jewelry, cottons & wools, spike heel shoes up to 50% off many items '50s through '80s new & pre-owned clothes Maes. Mar. 70:30 -6:00
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