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 PA RK IN
PA R K I N BA D E

MACROECONOMICS

BA D E
MACROECONOMICS
C ANADA IN THE G LOBAL ENVIRONM ENT TENTH EDITION

CANADA IN THE GLOBAL ENVIRONMENT

TENTH EDITION

www.pearson.com 90000
ISBN 978-0-13-468683-7

9 780134 686837
 TO OUR STUDENTS

A01_PARK6837_10_SE_FM.indd 7 07/12/17 1:01 PM

This page intentionally left blank
 Michael Parkin is Professor Emeritus in the Department of
ABOUT THE AUTHORS
◆
Economics at the University of Western Ontario, Canada. Professor Parkin has
held faculty ­appointments at Brown University, the University of Manchester,
the University of Essex, and Bond University. He is a past president of the
Canadian Economics Association and has served on the editorial boards of
the American Economic R
­ eview and the Journal of Monetary Economics and
as managing editor of the Canadian Journal of Economics. Professor Parkin’s
research on macroeconomics, monetary ­economics, and international
economics has resulted in over 160 publications in j­ournals and edited
volumes, including the American Economic Review, the Journal of Political
Economy, the Review of Economic Studies, the Journal of Monetary Economics,
and the Journal of Money, Credit and Banking. He became most visible to the
public with his work on inflation that discredited the use of wage and price controls.
Michael Parkin also spearheaded the movement toward European monetary union.
Professor Parkin is an experienced and dedicated teacher of introductory economics.

Robin Bade earned degrees in mathematics and economics

at the University of Queensland and her Ph.D. at the Australian National
University. She has held faculty appointments at the University of
Edinburgh in Scotland, at Bond University in Australia, and at the
Universities of Manitoba, Toronto, and Western Ontario in Canada.
Her research on international capital flows appears in the International
Economic Review and the Economic Record.
Professor Parkin and Dr. Bade are the joint authors of Foundations of
Economics (Addison Wesley), Modern Macroeconomics (Pearson Education
Canada), an intermediate text, and have collaborated on many research
and textbook writing projects. They are both experienced and dedicated
teachers of introductory economics.

ix

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This page intentionally left blank
 PART ONE PART FOUR
BRIEF CONTENTS
◆
INTRODUCTION 1 MACROECONOMIC FLUCTUATIONS 243
CHAPTER 1 What Is Economics? 1 CHAPTER 10 Aggregate Supply and Aggregate
CHAPTER 2 The Economic Problem 33 Demand 243
CHAPTER 3 Demand and Supply 57 CHAPTER 11 Expenditure Multipliers 267
CHAPTER 12 The Business Cycle, Inflation, and
PART TWO Deflation 297
MONITORING MACROECONOMIC
PERFORMANCE 87 PART FIVE
CHAPTER 4 Monitoring the Value of Production: MACROECONOMIC POLICY 323

GDP 87 CHAPTER 13 Fiscal Policy 323

CHAPTER 5 Monitoring Jobs and Inflation 111 CHAPTER 14 Monetary Policy 347
CHAPTER 15 International Trade Policy 371
PART THREE
MACROECONOMIC TRENDS 135
CHAPTER 6 Economic Growth 135
CHAPTER 7 Finance, Saving, and Investment 163
CHAPTER 8 Money, the Price Level, and
Inflation 183
CHAPTER 9 The Exchange Rate and the Balance of
Payments 213

xi

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This page intentionally left blank
 Flexibility
ALTERNATIVE PATHWAYS THROUGH THE CHAPTERS
◆
Chapter 1 Chapter 6

What Is Economics? Economic Growth

Chapter 2 Chapter 7 Chapter 13

The Economic Problem Finance, Saving, Fiscal Policy

and Investment

Chapter 3 Chapter 4
Chapter 10 Chapter 12
Demand and Supply Monitoring the Value Aggregate Supply and
of Production: GDP Aggregate Demand The Business Cycle,
Inflation, and Deflation

Chapter 15 Chapter 5
Chapter 7
International Monitoring Jobs Chapter 14
Trade Policy and Inflation Finance, Saving,
Monetary Policy
and Investment

Chapter 8

Money, the Price Level,

and Inflation

Chapter 9

The Exchange Rate and

the Balance of Payments

Chapter 11

Expenditure Multipliers

Start here ... … then jump to … and jump to any of these after
any of these … doing the prerequisites indicated

xiii

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This page intentionally left blank
 PART ONE
DETAILED CONTENTS

APPENDIX Graphs in Economics  17

◆
INTRODUCTION 1 Graphing Data 17
Graphing Economic Data 18
CHAPTER 1 ◆ WHAT IS ECONOMICS? 1 Scatter Diagrams 18

Definition of Economics 2 Graphs Used in Economic Models 20

Variables That Move in the Same Direction 20
Two Big Economic Questions 3 Variables That Move in Opposite Directions 21
What, How, and For Whom? 3 Variables That Have a Maximum or a
Do Choices Made in the Pursuit of Self-Interest Minimum 22
also Promote the Social Interest? 5 Variables That Are Unrelated 23
The Economic Way of Thinking 9 The Slope of a Relationship 24
A Choice Is a Tradeoff 9 The Slope of a Straight Line 24
Making a Rational Choice 9 The Slope of a Curved Line 25
Benefit: What You Gain 9
Cost: What You Must Give Up 9 Graphing Relationships Among More Than
How Much? Choosing at the Margin 10 Two Variables 26
Choices Respond to Incentives 10 Ceteris Paribus 26
When Other Things Change 27
Economics as Social Science and Policy Tool 11
Economist as Social Scientist 11 MATHEMATICAL NOTE
Economist as Policy Adviser 11 Equations of Straight Lines   28

Economists in the Economy 12 ■■ AT ISSUE, 8

Jobs for an Economics Major 12 ■■ ECONOMICS IN THE NEWS, 6, 14
Will Jobs for Economics Majors Grow? 12
Earnings of Economics Majors 13
Skills Needed for Economics Jobs 13

Worked Problem, Summary (Key Points and Key Terms),

Study Plan Problems and Applications, and Additional Prob-
lems and Applications appear at the end of each chapter.

xv

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 xvi DETAILED CONTENTS

CHAPTER 2 ◆ THE ECONOMIC PROBLEM 33 CHAPTER 3 ◆ DEMAND AND SUPPLY 57

Production Possibilities and Opportunity Cost 34 Markets and Prices 58
Production Possibilities Frontier 34
Demand 59
Production Efficiency 35
The Law of Demand 59
Tradeoff Along the PPF 35
Demand Curve and Demand Schedule 59
Opportunity Cost 35
A Change in Demand 60
Using Resources Efficiently 37 A Change in the Quantity Demanded Versus a
The PPF and Marginal Cost 37 Change in Demand 62
Preferences and Marginal Benefit 38
Supply 64
Allocative Efficiency 39
The Law of Supply 64
Gains from Trade 40 Supply Curve and Supply Schedule 64
Comparative Advantage and Absolute A Change in Supply 65
Advantage 40 A Change in the Quantity Supplied Versus a
Achieving the Gains from Trade 42 Change in Supply 66
The Liz–Joe Economy and Its PPF 44
Market Equilibrium 68
Economic Growth 45 Price as a Regulator 68
The Cost of Economic Growth 45 Price Adjustments 69
A Nation’s Economic Growth 46
Predicting Changes in Price and Quantity 70
Changes in What We Produce 46
An Increase in Demand 70
Economic Coordination 48 A Decrease in Demand 70
Firms 48 An Increase in Supply 72
Markets 48 A Decrease in Supply 72
Property Rights 48 Changes in Both Demand and Supply 74
Money 48
MATHEMATICAL NOTE
Circular Flows Through Markets 48
Demand, Supply, and Equilibrium   78
Coordinating Decisions 49
■■ ECONOMICS IN THE NEWS, 71, 73, 76
■■ ECONOMICS IN ACTION, 46

■■ ECONOMICS IN THE NEWS, 36, 50 PART ONE WRAP-UP ◆

Understanding the Scope of Economics

Your Economic Revolution 85
Talking with
Esther Duflo 86

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 DETAILED CONTENTS    xvii

CHAPTER 5 ◆ MONITORING JOBS

PART TWO
AND INFLATION 111
MONITORING MACROECONOMIC
PERFORMANCE 87 Employment and Unemployment 112
Why Unemployment Is a Problem 112
CHAPTER 4 ◆ MONITORING THE VALUE Labour Force Survey 113
OF PRODUCTION: GDP 87 Four Labour Market Indicators 113
Other Definitions of Unemployment 115
Gross Domestic Product 88 Most Costly Unemployment 116
GDP Defined 88 Alternative Measures of Unemployment 116
GDP and the Circular Flow of Expenditure
and Income 89 Unemployment and Full Employment 117
Why Is Domestic Product “Gross”? 90 Frictional Unemployment 117
Structural Unemployment 117
Measuring Canada’s GDP 91 Cyclical Unemployment 117
The Expenditure Approach 91 “Natural” Unemployment 117
The Income Approach 92 Real GDP and Unemployment over
Nominal GDP and Real GDP 93 the Cycle 118
Calculating Real GDP 93 The Changing Natural Unemployment Rate 119
The Uses and Limitations of Real GDP 94 The Price Level, Inflation, and Deflation 120
The Standard of Living over Time 94 Why Inflation and Deflation Are Problems 120
The Standard of Living Across Countries 96 The Consumer Price Index 121
Limitations of Real GDP 97 Reading the CPI Numbers 121
APPENDIX Graphs in Macroeconomics   102 Constructing the CPI 121
Measuring the Inflation Rate 122
The Time-Series Graph 102 Distinguishing High Inflation from a High
Making a Time-Series Graph 102 Price Level 123
Reading a Time-Series Graph 102 The Biased CPI 123
Ratio Scale Reveals Trend 103 The Magnitude of the Bias 124
A Time-Series with a Trend 103 Some Consequences of the Bias 124
Using a Ratio Scale 103 Alternative Price Indexes 124
MATHEMATICAL NOTE Core Inflation 124
Chained-Dollar Real GDP   104 The Real Variables in Macroeconomics 125

■■ ECONOMICS IN ACTION, 99 ■■ ECONOMICS IN ACTION, 112, 118

■■ ECONOMICS IN THE NEWS, 126

■■ AT ISSUE, 98

■■ ECONOMICS IN THE NEWS, 100 PART TWO WRAP-UP ◆

Monitoring Macroeconomic Performance

The Big Picture 133
Talking with
David Card 134

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 xviii DETAILED CONTENTS

CHAPTER 7 ◆ FINANCE, SAVING, AND

PART THREE
INVESTMENT 163
MACROECONOMIC TRENDS 135
Financial Markets and Financial
CHAPTER 6 ◆ ECONOMIC GROWTH 135 Institutions 164
Finance and Money 164
The Basics of Economic Growth 136 Physical Capital and Financial Capital 164
Calculating Growth Rates 136 Capital and Investment 164
Economic Growth Versus Business Cycle Wealth and Saving 164
Expansion 136 Financial Capital Markets 165
The Magic of Sustained Growth 137 Financial Institutions 166
Applying the Rule of 70 138 Insolvency and Illiquidity 167
Long-Term Growth Trends 139 Interest Rates and Asset Prices 167
Long-Term Growth in Canada 139 Funds that Finance Investment 168
Real GDP Growth in the World Economy 140 The Real Interest Rate 169

How Potential GDP Grows 142 The Loanable Funds Market 170
What Determines Potential GDP? 142 The Demand for Loanable Funds 170
What Makes Potential GDP Grow? 144 The Supply of Loanable Funds 170
Equilibrium in the Loanable Funds Market 171
Why Labour Productivity Grows 147 Changes in Demand and Supply 172
Preconditions for Labour Productivity
Government in the Loanable Funds Market 174
Growth 147
Physical Capital Growth 147 A Government Budget Surplus 174
Human Capital Growth 148 A Government Budget Deficit 174
Technological Advances 148 ■■ ECONOMICS IN ACTION, 169, 172
Is Economic Growth Sustainable? Theories, ■■ ECONOMICS IN THE NEWS, 176
Evidence, and Policies 151
Classical Growth Theory 151
Neoclassical Growth Theory 151
New Growth Theory 152
New Growth Theory Versus Malthusian
Theory 154
Sorting Out the Theories 154
The Empirical Evidence on the Causes of
Economic Growth 154
Policies for Achieving Faster Growth 154
■■ ECONOMICS IN ACTION, 141, 148, 149

■■ ECONOMICS IN THE NEWS, 150, 156

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 DETAILED CONTENTS    xix

CHAPTER 8 ◆ MONEY, THE PRICE LEVEL, CHAPTER 9 ◆ THE EXCHANGE RATE AND THE
AND INFLATION 183 BALANCE OF PAYMENTS 213
What Is Money? 184 The Foreign Exchange Market 214
Medium of Exchange 184 Trading Currencies 214
Unit of Account 184 Exchange Rates 214
Store of Value 185 Questions About the Canadian Dollar
Money in Canada Today 185 Exchange Rate 214
An Exchange Rate Is a Price 214
Depository Institutions 187
The Demand for One Money Is the Supply
Types of Depository Institutions 187
of Another Money 215
What Depository Institutions Do 187
Demand in the Foreign Exchange Market 215
Economic Benefits Provided by Depository
Demand Curve for Canadian Dollars 216
Institutions 188
Supply in the Foreign Exchange Market 217
How Depository Institutions Are Regulated 188
Supply Curve for Canadian Dollars 217
Financial Innovation 190
Market Equilibrium 218
The Bank of Canada 191 Changes in the Demand for Canadian
Banker to Banks and Government 191 Dollars 218
Lender of Last Resort 191 Changes in the Supply of Canadian Dollars 219
Sole Issuer of Bank Notes 191 Changes in the Exchange Rate 220
The Bank of Canada’s Balance Sheet 191 Arbitrage, Speculation, and Market
The Bank of Canada’s Policy Tools 192 Fundamentals 222
How Banks Create Money 194 Arbitrage 222
Creating Deposits by Making Loans 194 Speculation 223
The Money Creation Process 195 Market Fundamentals 224
The Money Multiplier 196 Exchange Rate Policy 225
The Money Market 198 Flexible Exchange Rate 225
The Influences on Money Holding 198 Fixed Exchange Rate 225
The Demand for Money 199 Crawling Peg 226
Shifts in the Demand for Money Curve 199 Financing International Trade 228
Money Market Equilibrium 200 Balance of Payments Accounts 228
Borrowers and Lenders 230
The Quantity Theory of Money 202
The Global Loanable Funds Market 230
MATHEMATICAL NOTE Debtors and Creditors 231
The Money Multiplier   206 Is Canadian Borrowing for Consumption? 231
Current Account Balance 232
■■ ECONOMICS IN ACTION, 185, 190, 192, 196, 202 Net Exports 232
■■ AT ISSUE, 189 Where Is the Exchange Rate? 233
■■ ECONOMICS IN ACTION, 215, 221, 223, 226,
■■ ECONOMICS IN THE NEWS, 197, 204
229, 233
■■ ECONOMICS IN THE NEWS, 234

PART THREE WRAP-UP ◆

Understanding Macroeconomic Trends
Expanding the Frontier 241
Talking with
Xavier Sala-i-Martin 242

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 xx DETAILED CONTENTS

CHAPTER 11 ◆ EXPENDITURE
PART FOUR MULTIPLIERS 267
MACROECONOMIC FLUCTUATIONS 243
Fixed Prices and Expenditure Plans 268
CHAPTER 10 ◆ AGGREGATE SUPPLY AND Expenditure Plans 268
AGGREGATE DEMAND 243 Consumption and Saving Plans 268
Marginal Propensities to Consume and Save 270
Aggregate Supply 244 Slopes and Marginal Propensities 270
Quantity Supplied and Supply 244 Consumption as a Function of Real GDP 271
Long-Run Aggregate Supply 244 Import Function 271
Short-Run Aggregate Supply 245
Real GDP with a Fixed Price Level 272
Changes in Aggregate Supply 246
Aggregate Planned Expenditure 272
Aggregate Demand 248 Actual Expenditure, Planned Expenditure, and
The Aggregate Demand Curve 248 Real GDP 273
Changes in Aggregate Demand 249 Equilibrium Expenditure 274
Explaining Macroeconomic Trends and Convergence to Equilibrium 275
Fluctuations 252 The Multiplier 276
Short-Run Macroeconomic Equilibrium 252 The Basic Idea of the Multiplier 276
Long-Run Macroeconomic Equilibrium 252 The Multiplier Effect 276
Economic Growth and Inflation in Why Is the Multiplier Greater Than 1? 277
the AS-AD Model 253 The Size of the Multiplier 277
The Business Cycle in the AS-AD Model 254 The Multiplier and the Slope of
Fluctuations in Aggregate Demand 256 the AE Curve 278
Fluctuations in Aggregate Supply 257 Imports and Income Taxes 279
Macroeconomic Schools of Thought 258 The Multiplier Process 279
Business Cycle Turning Points 280
The Classical View 258
The Keynesian View 258 The Multiplier and the Price Level 281
The Monetarist View 259 Adjusting Quantities and Prices 281
The Way Ahead 259 Aggregate Expenditure and Aggregate
Demand 281
■■ ECONOMICS IN ACTION, 250, 253, 254
Deriving the Aggregate Demand Curve 281
■■ ECONOMICS IN THE NEWS, 260 Changes in Aggregate Expenditure and
Aggregate Demand 282
Equilibrium Real GDP and the Price Level 283
MATHEMATICAL NOTE
The Algebra of the Keynesian Model   288

■■ ECONOMICS IN ACTION, 271, 280

■■ ECONOMICS IN THE NEWS, 286

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 DETAILED CONTENTS    xxi

CHAPTER 12 ◆ THE BUSINESS CYCLE,

PART FIVE
INFLATION, AND
MACROECONOMIC POLICY 323
DEFLATION 297
The Business Cycle 298 CHAPTER 13 ◆ FISCAL POLICY 323
Mainstream Business Cycle Theory 298
Real Business Cycle Theory 299 The Federal Budget 324
Budget Making 324
Inflation Cycles 303 The Federal Budget in 2016 324
Demand-Pull Inflation 303 The Budget in Historical Perspective 325
Cost-Push Inflation 305
Expected Inflation 307 Supply-Side Effects of Fiscal Policy 330
Forecasting Inflation 308 Full Employment and Potential GDP 330
Inflation and the Business Cycle 308 The Effects of the Income Tax 330
Taxes on Expenditure and the Tax Wedge 331
Deflation 309 Taxes and the Incentive to Save and Invest 332
What Causes Deflation? 309 Tax Revenues and the Laffer Curve 333
What Are the Consequences of Deflation? 311 The Supply-Side Debate 333
How Can Deflation Be Ended? 311
Fiscal Stimulus 334
The Phillips Curve 312 Automatic Fiscal Policy and Cyclical and
The Short-Run Phillips Curve 312 Structural Budget Balances 334
The Long-Run Phillips Curve 312 Discretionary Fiscal Stimulus 335
■■ ECONOMICS IN ACTION, 300, 310, 313 ■■ ECONOMICS IN ACTION, 328, 329, 331, 336,
■■ ECONOMICS IN THE NEWS, 314 337, 338

■■ ECONOMICS IN THE NEWS, 340

PART FOUR WRAP-UP ◆

Understanding Macroeconomic Fluctuations

Boom and Bust 321
Talking with
Peter Howitt 322

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 xxii DETAILED CONTENTS

CHAPTER 14 ◆ MONETARY POLICY 347 CHAPTER 15 ◆ INTERNATIONAL TRADE

POLICY 371
Monetary Policy Objectives and Framework 348
Monetary Policy Objective 348 How Global Markets Work 372
Responsibility for Monetary Policy 349 International Trade Today 372
What Drives International Trade? 372
The Conduct of Monetary Policy 350
Why Canada Imports T-Shirts 373
The Monetary Policy Instrument 350
Why Canada Exports Regional Jets 374
The Bank’s Interest Rate Decision 351
Hitting the Overnight Loans Rate Target 351 Winners, Losers, and the Net Gain from Trade 375
Gains and Losses from Imports 375
Monetary Policy Transmission 353
Gains and Losses from Exports 375
Quick Overview 353
Gains for All 375
Interest Rate Changes 353
Exchange Rate Fluctuations 354 International Trade Restrictions 376
Money and Bank Loans 355 Tariffs 376
The Long-Term Real Interest Rate 355 Import Quotas 378
Expenditure Plans 355 Other Import Barriers 381
Change in Aggregate Demand, Real GDP, Export Subsidies 381
and the Price Level 356
The Case Against Protection 382
The Bank of Canada Fights Recession 356
Helps an Infant Industry Grow 382
The Bank of Canada Fights Inflation 358
Counteracts Dumping 382
Loose Links and Long and Variable Lags 359
Saves Domestic Jobs 382
Financial Crisis: Cure and Prevention 361 Allows Us to Compete with Cheap Foreign
The Anatomy of the Financial Crisis 361 Labour 382
The U.S. Fed’s Policy Actions 361 Penalizes Lax Environmental Standards 383
Congress Crisis Policy Action 361 Prevents Rich Countries from Exploiting
Macroprudential Regulation 362 Developing Countries 383
Canadian Macroprudential Policy 362 Reduces Offshore Outsourcing That Sends Good
Policy Strategies and Clarity 362 Canadian Jobs to Other Countries 383
Avoiding Trade Wars 384
■■ ECONOMICS IN ACTION, 360, 363
Why Is International Trade Restricted? 384
■■ ECONOMICS IN THE NEWS, 364 Compensating Losers 385
■■ ECONOMICS IN ACTION, 372, 377, 378

■■ AT ISSUE, 384

■■ ECONOMICS IN THE NEWS, 380, 386

PART FIVE WRAP-UP ◆

Understanding Macroeconomic Policy

Tradeoffs and Free Lunches 393
Talking with
Pierre Siklos 394

Glossary G-1
Index I-1
Credits C-1

A01_PARK6837_10_SE_FM.indd 22 07/12/17 1:01 PM

 ◆ New To This Edition
the price Level, Inflation, and Deflation
Chapter 5 now includes the three new measures of
PREFACE
◆ 125

core inflation: CPI-trim, CPI-median, and CPI-common.

All data figures, tables, and explanations thoroughly
inflation
­updated to therate. Theavailable;
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ges; 21 new Economics in the News items based
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ry a lot depend- FIGURE 1.3 Earnings of Economics Majors
the core inflation rate is the CpI-trim measure, which excludes
alifications. The Chapter 7, Finance, Saving, and Investment, has
s a pay range for The Real Variables in Macroeconomics
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been reorganized and streamlined with less emphasis
changes. the core inflation rate removes most of the wide
4,441 to $127,500, You saw in Chapter 3 the distinction between
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a money price and a relative price (see p. 58). current extremely low real interest rate.
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REVIEW QUIZ
and range from an choices. And we want to distinguish a real quantity Economics in the News
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real GDP) from a nominal quantity (like nomi- 1 What is the price level?
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can deflator.
Leaders of the Huu-ay-aht First Nation and the CEO of Vancouver-based Steelhead LNG
You see these skills at work (except the held a joint news conference in Vancouver on Monday to announce what Chief Robert Dennis

ing concernThere about

last one) in theisforecasts
onethevariable
rust-belt
of that
economy,
is a bit
the BLS
its causes
different—an
economists
said was the First Nation’s “official entry into the international business world.”
Members of the small First Nation voted Saturday to approve development of the LNG facil-

and cures,
patterns
which
rate. describes
A real and
described earlier. These economists used atheir
interest interest illustrates
rate is not the changing
nominal ◆ You’ve now completed your study of the mea-
ity at Sarita Bay, on the west coast of Vancouver Island …
The company’s plans could even include building a new pipeline linking Vancouver Island and

critical-thinking skills to focus on a manageableand

of
interest production
rate divided as an
by economy
the price expands,
level. You’ll learn surement of macroeconomic performance. Your next
the B.C. mainland …
The company planned to make a final investment decision

how
explains howto adjust
technicalinterest
changerates
number of key features of jobs. They went on andfor inflation
economic to find
growth a real task is to learn what determines that performance
on Sarita Bay by 2019 or 2020, with first production tar-
geted for 2024, he said. …
ESSENCE OF THE STORY
first interest
shrinks
to gather rateshare
the
relevant indata
Chapter
ofon 8. But allas
agriculture
earnings the
and other real vari-
manufacturing
employ- and how policy actions might improve it. But first,
John Jack, executive councillor with the Huu-ay-aht, said
it’s time the First Nation took its place within Canada and ■ the Huu-ay-aht First Nation on Vancouver Island
has approved a liquefied natural gas export facil-

mentables aof macroeconomics arecategories,

calculated by dividingas a compare the Canadian and U.S. labour markets in
British Columbia.

expands forand later

large shrinks the
number share
of jobs of manufacturing “This is an example of a First Nation working with busi- ■
ity on its traditional territories.
Steelhead LNG will build and operate the facility.

nominal
services
analyzedexpand. variable by the price level.
the data using their math and economics Economics in the News on pp. 126–127.
ness and working with the people of B.C. and Canada in
order to create value that fits both of our interests.”
■ A new pipeline linking Vancouver Island and the
B.C. mainland is a possible part of the plan.

ty to clarify and tools,Chapter

and predicted future jobs growth. They
© The Canadian Press ■ production is targeted to start in 2024.

evant evidence 2 also has an expanded explanation and

then presented
graphical their findings
derivation online at https://
of the outward-bowed PPF. MyLab Economics Economics in the News

www.bls.gov/ooh. Round off this topic by taking

nomic ideas and a look at their work. xxiii
rns, and reach a

50

thematical and M05_PARK6837_10_SE_C05.indd 125 13/09/17 1:50 PM

reach valid REVIEW QUIZ M02_PARK6837_10_SE_C02.indd 50 09/09/17 11:09 AM

A01_PARK6837_10_SE_FM.indd 23 07/12/17 1:01 PM

1 What types of jobs do economists do?
 xxiv PREFACE

News-Based Problems and Applications and not as a series of logical exercises with no real
Just a sample of the topics covered in the 80 new purpose. Economics in the News and At Issue are
news-based problems and applications include: designed to achieve this goal.
Shrinking brick-and-mortar retail and expanding Each chapter opens with a student-friendly
­online shopping; Canada’s economic growth triples vignette that raises a question to motivate and focus
U.S.’s; jobs data highlights divergence between the chapter. The chapter explains the principles, or
Canada, U.S.; thousands of robots improve human model, that address the question and ends with an
efficiency; after a summer bond binge, signs of Economics in the News application that helps students
angst are growing in the market; Poloz’s best option: to think like economists by connecting chapter tools
increase the money supply; Bank of Canada raises and concepts to the world around them. All these
benchmark rate to 1%; and U.S. tariffs on Canadian news exercises are in MyLab with instant targeted
softwood lumber. feedback and auto-grading and constant uploading
of new, current exercises.
In many chapters, an additional briefer Economics
◆ Solving Teaching and Learning in the News (shown here) presents a short news clip,
Challenges supplemented by data where needed, poses some
questions, and walks through the answers.
predicting Changes in price and Quantity 73
To change the way students see the world: this is our
goal in teaching economics, in writing this book, and
ECONOMICS IN ThE NEWS
in playing a major role in creating content for MyLab
The Market for Vanilla Bean
Economics. Price of Ice Cream Set to Spike
Three facts about students are our guiding A poor harvest in Madagascar has exploded the price of
vanilla bean, the flavouring in Canada’s top ice cream.

principles. First, they want to learn, but they are Source: The Toronto Star, April 7, 2016

overwhelmed by the volume of claims on their time THE DATA

Quantity of Vanilla Bean Price of Vanilla Bean

and energy. So, they must see the relevance to their Year
(billions of tonnes
per year )
(dollars
per kilogram)

lives and future careers of what they are being asked 2015
2016
7.6
5.6
70
425

to learn. Second, students want to get it, and get it THE QUESTIONS

quickly. So, they must be presented with clear and ■

■
What does the data table tell us?
Why did the price of vanilla bean rise? Is it because ■ In 2016, the decreased production in Madagasscar
succinct explanations. And third, students want to demand changed or supply changed, and in which
direction? ■
decreased the supply of vanilla bean to S16.
The price increased to $425 per kilogram and the
make sense of today’s world and be better prepared THE ANSWERS ■
quantity traded decreased to 5.6 billion tonnes.
The higher price brought a decrease in the quantity of
for life after school. So, they must be shown how to ■ The data table tells us that during 2016, the quantity
of vanilla bean produced increased and the price of
vanilla bean demanded, which is shown by the move-
ment along the demand curve.
apply the timeless principles of economics and its ■
vanilla bean increased sharply.
An increase in demand brings an increase in the quan-
models to illuminate and provide a guide to under-
Price (dollars per kilogram)

tity and a rise in the price. S16

Poor harvest decreases the
■ A decrease in supply brings a decrease in the quantity 700 supply of vanilla bean ...

standing today’s events and issues, and the future ■

and a rise in the price.
Because the quantity of vanilla bean decreased and the 600
S15

challenges they are likely to encounter. price increased, there must have been a decrease in the
supply of vanilla bean
500

The organization of this text and MyLab arise ■ The supply of vanilla bean decreases if a poor harvest
decreases production.
425
... and the

directly from these guiding principles. Each chapter ■ The news clip says there was a poor harvest in
Madagascar. This decrease in production brought
300
quantity
demanded
decreases

begins with a clear statement of learning objectives ■

a decrease in the supply of vanilla bean.
The figure illustrates the market for vanilla bean in
200 ... the
price
rises ...

that correspond to each chapter section. 2015 and 2016. The demand curve D shows the
demand for vanilla bean.
70
D

The learning resources also arise directly from ■ In 2015, the supply curve was S15, the price was $70
per kilogram, and the quantity of vanilla bean traded
0 5.6 7.6
Quantity (billions of tonnes per year)

the three guiding principles, and we will describe was 7.6 billion tonnes. The Market for Vanilla Bean in 2015–2016

them by placing them in five groups: MyLab Economics Economics in the News

■■ Making economics real CAN10E - EIN_03_002

■■ Learning the vocabulary Four At Issue boxes engage the student in

■■ Seeing the action and telling the story debate and controversy. An At Issue box introduces
■■ Learning interactively—learning by doing an issue and then presents two opposing views.
M03_PARK6837_10_SE_C03.indd 73 09/09/17 12:04 PM

It leaves the matter unsettled so that students and

■■ MyLab Economics the instructor can continue the argument in class
and reach their own conclusions.
Making Economics Real Economics in Action boxes make economics real
The student needs to see economics as a lens that by providing data and information that links models
sharpens the focus on real-world issues and events, to real-world economic activity. Some of the issues

A01_PARK6837_10_SE_FM.indd 24 07/12/17 1:01 PM

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 The Project Gutenberg eBook of Warren
Commission (01 of 26): Hearings Vol. I (of 15)
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Title: Warren Commission (01 of 26): Hearings Vol. I (of 15)

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*** START OF THE PROJECT GUTENBERG EBOOK WARREN

COMMISSION (01 OF 26): HEARINGS VOL. I (OF 15) ***
 Transcriber's note: A three-page list of Exhibit numbers has
been omitted from this eBook.

INVESTIGATION OF
THE ASSASSINATION OF PRESIDENT JOHN F.
KENNEDY
 HEARINGS
Before the President's Commission
on the Assassination
of President Kennedy

Pursuant To Executive Order 11130, an Executive order creating a

Commission to ascertain, evaluate, and report upon the facts
relating to the assassination of the late President John F. Kennedy
and the subsequent violent death of the man charged with the
assassination and S.J. Res. 137, 88th Congress, a concurrent
resolution conferring upon the Commission the power to administer
oaths and affirmations, examine witnesses, receive evidence, and
issue subpenas

Volume
I

UNITED STATES GOVERNMENT PRINTING OFFICE

 WASHINGTON, D.C.

U.S. GOVERNMENT PRINTING OFFICE, WASHINGTON: 1964

For sale in complete sets by the Superintendent of Documents, U.S. Government

Printing Office
Washington, D.C., 20402
 PRESIDENT'S COMMISSION
ON THE
ASSASSINATION OF PRESIDENT
KENNEDY

Chief Justice Earl Warren, Chairman

Senator Richard B. Russell
Senator John Sherman Cooper
Representative Hale Boggs
Representative Gerald R. Ford
Mr. Allen W. Dulles
Mr. John J. McCloy

J. Lee Rankin, General Counsel

Assistant Counsel

Francis W. H. Adams
Joseph A. Ball
David W. Belin
William T. Coleman, Jr.
Melvin Aron Eisenberg
Burt W. Griffin
Leon D. Hubert, Jr.
Albert E. Jenner, Jr.
Wesley J. Liebeler
Norman Redlich
W. David Slawson
Arlen Specter
Samuel A. Stern
A
Howard P. Willens

Staff Members

Phillip Barson
Edward A. Conroy
John Hart Ely
Alfred Goldberg
Murray J. Laulicht
 Arthur Marmor
Richard M. Mosk
John J. O'Brien
Stuart Pollak
Alfredda Scobey
Charles N. Shaffer, Jr.

Biographical information on the Commissioners and the staff can

be found in the Commission's Report.

A
Mr. Willens also acted as liaison between the Commission and
the Department of Justice.
 Foreword
On November 29, 1963, President Lyndon B. Johnson signed
Executive Order No. 11130, creating a Commission "to ascertain,
evaluate and report upon the facts relating to the assassination of
the late President John F. Kennedy and the subsequent violent death
of the man charged with the assassination." By the same Executive
order, the President appointed seven Commissioners: Earl Warren,
Chief Justice of the United States; Richard B. Russell, Democratic
Senator from Georgia; John Sherman Cooper, Republican Senator
from Kentucky; Hale Boggs, Democratic Congressman from
Louisiana and House Majority Whip; Gerald R. Ford, Republican
Congressman from Michigan; Allen W. Dulles, former Director of the
Central Intelligence Agency; and John J. McCloy, former High
Commissioner of Germany. The President designated Chief Justice
Warren as the Commission's Chairman. The findings of the
Commission, based on an examination of all the facts, are set forth
in the separate volume entitled "Report of the President's
Commission on the Assassination of President Kennedy."
An essential part of the investigation conducted by this
Commission has been the securing of sworn testimony from
witnesses possessing information relevant to the inquiry. This
testimony has been taken under the authority of Senate Joint
Resolution 137 (88th Cong., 1st sess.), enacted by Congress on
December 13, 1963, which conferred upon the Commission the
power to administer oaths and affirmations, examine witnesses,
receive evidence, and issue subpenas. Under the procedures
adopted by the Commission, some witnesses have appeared before
members of the Commission, others have been questioned under
oath on depositions by members of the staff, and others have
provided affidavits to the Commission. Beginning with its first
witness on February 3, 1964, the Commission under these
procedures took the testimony of approximately 550 witnesses and
received more than 3,100 exhibits into evidence.
The testimony and exhibits obtained by the Commission are
printed in this and the succeeding volumes, organized in the
following order:

(1) Testimony before members of the Commission, in the

order in which it was taken.
(2) Testimony by sworn deposition or affidavit, grouped
into four general subject categories; the medical
attention given to the President and the Governor,
identification of the assassin of President Kennedy, the
background of Lee Harvey Oswald, and the killing of Lee
Harvey Oswald by Jack L. Ruby on November 24, 1963.
(3) Exhibits introduced in connection with the testimony
before the Commission in numerical order.
(4) Exhibits introduced in connection with sworn
depositions and affidavits, grouped alphabetically by
name of witness.
(5) Other exhibits introduced before the Commission in
numerical order.

The transcripts of this testimony, prepared by qualified court

reporters, were reviewed by members of the Commission staff and,
in most instances, by the witness concerned. Editing of the transcript
prior to printing in these volumes was confined to correction of
stenographic errors and punctuation, and minor changes designed to
improve the clarity and accuracy of the testimony. In the few cases
indicated, brief deletions have been made of material which might
be considered in poor taste and is clearly irrelevant to any facet of
the Commission's investigation. All the original transcripts prepared
by the court reporters, of course, have been preserved and will be
available for inspection under the same rules and regulations which
will apply to all records of this Commission.
Each volume contains a brief preface discussing the contents of
the volume. In addition, each volume of testimony contains a table
of contents with the names of the witnesses whose testimony
appears in the volume, and the numbers of the exhibits introduced
in connection with that testimony. Each volume of exhibits contains a
table of contents with short descriptions of the exhibits reproduced
in the volume. Volume XV contains a name index setting forth all
references to persons (other than Lee Harvey Oswald) appearing in
the Hearings volumes and an index setting forth all references to
Commission exhibits and Deposition exhibits in these volumes.
 Preface
The testimony of the following witnesses is contained in volume
I: Mrs. Marina Oswald, the widow of Lee Harvey Oswald; Mrs.
Marguerite Oswald, Oswald's mother; Robert Edward Lee Oswald,
Oswald's brother; and James Herbert Martin, who acted for a brief
period as Mrs. Marina Oswald's business manager.
 Contents
Page
Foreword v
Preface vii
Testimony of—
Mrs. Lee Harvey Oswald 1
Mrs. Marguerite Oswald 126
Robert Edward Lee Oswald 264
James Herbert Martin 469

COMMISSION EXHIBITS INTRODUCED

 Hearings Before the President's
Commission
on the
Assassination of President Kennedy
 Monday, February 3, 1964

TESTIMONY OF MRS. LEE HARVEY

OSWALD
The President's Commission met at 10:35 a.m. on February 3,
1964, at 200 Maryland Avenue NE., Washington, D.C.
Present were Chief Justice Earl Warren, Chairman; Senator John
Sherman Cooper, Representative Hale Boggs, Representative Gerald
R. Ford, and Allen W. Dulles, members.
Also present were J. Lee Rankin, general counsel; John M.
Thorne, attorney for Mrs. Lee Harvey Oswald; William D. Krimer and
Leon I. Gopadze, interpreters.

The Chairman. Well, Mrs. Oswald, did you have a good trip here?
The Commission will come to order, and at this time, I will make
a short statement for the purpose of the meeting. A copy of this
statement has been given to counsel for Mrs. Oswald, but for the
record, I should like to read it.
On November 29, 1963, President Lyndon B. Johnson issued
Executive Order No. 11130 appointing a Commission "to ascertain,
evaluate, and report upon the facts relating to the assassination of
the late President John F. Kennedy, and the subsequent violent death
of the man charged with the assassination."
 On December 13, 1963, Congress adopted Joint Resolution S.J.
137 which authorizes the Commission, or any member of the
Commission or any agent or agency designated by the Commission
for such purpose to administer oaths and affirmations, examine
witnesses, and receive evidence.
Mr. Rankin. Mr. Chairman, excuse me, the interpreter——
The Chairman. I understood they have a copy and if they want to
at the end he may do that.
On January 21, 1964, the Commission adopted a resolution
authorizing each member of the Commission and its General
Counsel, J. Lee Rankin, to administer oaths and affirmations,
examine witnesses, and receive evidence concerning any matter
under investigation by the Commission.
The purpose of this hearing is to take the testimony of Mrs.
Marina Oswald, the widow of Lee Harvey Oswald who, prior to his
death, was charged with the assassination of President Kennedy.
Since the Commission is inquiring fully into the background of Lee
Harvey Oswald and those associated with him, it is the intention of
the Commission to ask Mrs. Marina Oswald questions concerning Lee
Harvey Oswald and any and all matters relating to the assassination.
The Commission also intends to ask Mrs. Marina Oswald questions
relating to the assassination of President Kennedy and the
subsequent violent death of Lee Harvey Oswald.
Mrs. Marina Oswald has been furnished with a copy of this
statement and a copy of the rules adopted by the Commission for
the taking of testimony or the production of evidence. Mrs. Marina
Oswald has also been furnished with a copy of Executive Order No.
11130 and Congressional Resolution S.J. Res. 137 which set forth
the general scope of the Commission's inquiry and its authority for
the examining witnesses and the receiving of evidence.
The Chairman. Mrs. Oswald, do you have an attorney, a lawyer?
Mrs. Oswald. Yes.
 The Chairman. And your lawyer is Mr. Thorne?
Mrs. Oswald. Yes.
The Chairman. He is the only lawyer you wish to represent you
here?
Mrs. Oswald. Yes.
The Chairman. And may I ask you, Mr. Thorne, if you have
received a copy of this?
Mr. Rankin. Mr. Chairman, that is the copy he received there.
Mr. Thorne. I have read a copy of it, Mr. Chief Justice, yes, sir.
The Chairman. Are there any questions about it?
Mr. Thorne. There are no questions.
The Chairman. Very well.
Very well, we will proceed to swear Mrs. Oswald as a witness.
Will you please rise, Mrs. Oswald.
(The Chairman administered the oath to the witness, Mrs.
Oswald, through the interpreter.)
The Chairman. Mr. Reporter, will you rise, please, and be sworn.
(The Chairman administered the oath to the interpreter and the
stenotype reporter, following which all questions propounded to the
witness and her answers thereto, were duly translated through the
interpreter.)
The Chairman. Now, Mr. Thorne and Mrs. Oswald, I want to say to
you that we want to see that Mrs. Oswald's rights are protected in
every manner and you are entitled to converse with her at any time
that you desire. You are entitled to give her any advice that you
want, either openly or in private; if you feel that her rights are not
being protected you are entitled to object to the Commission and
have a ruling upon it, and at the conclusion of her testimony if you
have any questions that you would like to ask her in verification of
what she has said you may feel free to ask them.
After her testimony has been completed, a copy will be furnished
to you so that if there are any errors, corrections or omissions you
may call it to our attention, is that satisfactory to you?
Mr. Thorne. Very satisfactory, Mr. Chairman.
The Chairman. I might say also to her we propose to ask her
questions for about 1 hour, and then take a short recess for her
refreshment, and then we will convene again until about 12:30. At
12:30 we will recess until 2 o'clock, and then we may take her to her
hotel where she can see her baby and have a little rest, and we will
return at 2 o'clock, and we will take evidence until about 4:30. If at
any time otherwise you should feel tired or feel that you need a rest,
you may feel free to say so and we will take care of it.
Mrs. Oswald. Thank you.
The Chairman. The questions will be asked of you by Mr. J. Lee
Rankin, who is the general counsel of the Commission.
I think now we are ready to proceed, are we not, Mr. Rankin?
Mr. Rankin. Mrs. Oswald, you be at your ease, and the interpreter
will tell you what I ask and you take your time about your answers.
Will you state your name, please?
Mrs. Oswald. Marina, my name is Marina Nikolaevna Oswald. My
maiden name was Prussakova.
Mr. Rankin. Where do you live, Mrs. Oswald?
Mrs. Oswald. At the present time I live in Dallas.
Mr. Rankin. And where in Dallas?
Mrs. Oswald. Mr. Thorne knows my address.
Mr. Thorne. 11125 Ferrar Street, Dallas, Dallas County, Tex.
Mr. Rankin. Do you live with friends there?
 Mrs. Oswald. I live with Mr. Jim Martin and his family.
Mr. Rankin. Mrs. Oswald, do you have a family?
Mrs. Oswald. I have two children, two girls, June will be 2 years
old in February, and Rachel is 3 months old.
Mr. Rankin. Are you the widow of the late Lee Harvey Oswald?
Mrs. Oswald. Yes.
Mr. Rankin. Mrs. Oswald, did you write in Russian a story of your
experiences in the United States?
Mrs. Oswald. Yes, I have. I think that you are familiar with it.
Mr. Rankin. You furnished it to the Commission, did you not, or a
copy of it?
Mrs. Oswald. Yes.
Mr. Rankin. Will you describe for the Commission how you
prepared this document in Russian that you furnished to us?
Mrs. Oswald. I wrote this document not specifically for this
Commission, but merely for myself. Perhaps there are, therefore, not
enough facts for your purpose in that document. This is the story of
my life from the time I met him in Minsk up to the very last days.
Mr. Rankin. And by "him" who did you mean?
Mrs. Oswald. Lee Harvey Oswald.
Mr. Rankin. Did you have any assistance in preparing this
document in Russian?
Mrs. Oswald. No, no one.
Mr. Rankin. Are all the statements in that document true insofar
as you know?
Mrs. Oswald. Yes.
Mr. Rankin. Since your husband's death and even back to the
time of the assassination of President Kennedy, you have had a
number of interviews with people from the Secret Service and the
FBI, have you not?
Mrs. Oswald. Yes, I did.
Mr. Rankin. We have a record of more than 46 such interviews,
and I assume you cannot remember the exact number or all that
was said in those interviews, is that true?
Mrs. Oswald. I don't know how many there were.
Mr. Rankin. As far as you can recall now, do you know of
anything that is not true in those interviews that you would like to
correct or add to?
Mrs. Oswald. Yes, I would like to correct some things because
not everything was true.
Mr. Rankin. Will you tell us——
Mrs. Oswald. It is not just that it wasn't true, but not quite exact.
Mr. Rankin. Do you recall some of the information that you gave
in those interviews that was incorrect that you would like to correct
now? Will you tell us that?
Mrs. Oswald. At the present time, I can't remember any specific
instance, but perhaps in the course of your questioning if it comes
up I will say so.
Mr. Rankin. Do you recall the date that you arrived in the United
States with your husband, Lee Harvey Oswald?
Mrs. Oswald. On the 13th of June, 1962—I am not quite certain
as to the year—'61 or '62, I think '62.
Mr. Rankin. How did you come to this country?
Mrs. Oswald. From Moscow via Poland, Germany, and Holland we
came to Amsterdam by train. And from Amsterdam to New York by
ship, and New York to Dallas by air.
Mr. Rankin. Do you recall the name of the ship on which you
came?
 Mrs. Oswald. I think it was the SS Rotterdam but I am not sure.
Mr. Rankin. What time of the day did you arrive in New York?
Mrs. Oswald. It was—about noon or 1 p.m., thereabouts. It is
hard to remember the exact time.
Mr. Rankin. How long did you stay in New York at that time?
Mrs. Oswald. We stayed that evening and the next 24 hours in a
hotel in New York, and then we left the following day by air.
Mr. Rankin. Do you recall the name of the hotel where you
stayed?
Mrs. Oswald. I don't know the name of the hotel but it is in the
Times Square area, not far from the publishing offices of the New
York Times.
Mr. Rankin. What did you do during your stay in New York?
Mrs. Oswald. That evening we just walked around the city to take
a look at it. In the morning I remained in the hotel while Lee left in
order to arrange for tickets, and so forth.
Mr. Rankin. Did you visit anyone or have visitors at your hotel
during that period?
Mrs. Oswald. We didn't have any visitors but I remember that
with Lee we visited some kind of an office, on official business,
perhaps it had something to do with immigration or with the tickets.
Lee spoke to them in English and I didn't understand it.
Mr. Rankin. Would that be a Travelers' Aid Bureau or Red Cross?
Mrs. Oswald. I don't know.
Mr. Rankin. Do you know whether or not you or your husband
received any financial assistance for the trip to Texas at that time?
Mrs. Oswald. I don't know exactly where Lee got the money, but
he said that his brother Robert had given him the money. But the
money for the trip from the Soviet Union to New York was given to
us by the American Embassy in Moscow.
 Mr. Rankin. Do you recall what time of the day you left on the
flight to Texas?
Mrs. Oswald. I think that by about 5 p.m. we were already in
Texas.
Mr. Rankin. Did you go to Dallas or Fort Worth at that time?
Mrs. Oswald. In Dallas we were met by the brother, Robert, he
lived in Fort Worth, and he took us from Dallas to Fort Worth and we
stopped at the house.
Mr. Rankin. Who else stayed at Robert's house at that time
besides your family?
Mrs. Oswald. His family and no one else.
Mr. Rankin. What did his family consist of at that time?
Mrs. Oswald. He and his wife and two children, a boy and a girl.
Mr. Rankin. How long did you stay at Robert's?
Mrs. Oswald. About 1 to 1½ months—perhaps longer, but no
longer than 2 months.
Mr. Rankin. Were your relations and your husband's with Robert
pleasant at that time?
Mrs. Oswald. Yes, they were very good. His brother's relationship
to us was very good.
Mr. Rankin. Would you briefly describe what you did during that
time when you were at Robert's?
Mrs. Oswald. The first time we got there we were, of course,
resting for about a week, and I was busy, of course, with my little
girl who was then very little. And in my free time, of course, I helped
in the household.
Mr. Rankin. Did your husband do anything around the house or
did he seek work right away?
 Mrs. Oswald. For about a week he was merely talking and took a
trip to the library. That is it.
Mr. Rankin. Then did he seek work in Fort Worth?
Mrs. Oswald. Yes.
Mr. Rankin. And when did he find his first job there?
Mrs. Oswald. While we were with Robert. It seems it was at the
end of the second month that Lee found work. But at this time I
don't remember the date exactly but his mother who lived in Fort
Worth at that time rented a room and she proposed that we spend
some time with her, that we live with her for some time.
Mr. Rankin. Did you discuss with your husband this proposal of
your mother-in-law to have you live with her?
Mrs. Oswald. Well, she made the proposal to my husband, not to
me. Of course, I found out about it.
Mr. Rankin. Did you and he have any discussion about it after you
found out about it?
Mrs. Oswald. Yes, of course.
Mr. Rankin. You recall that discussion?
Mrs. Oswald. No. I only remember the fact.
Mr. Rankin. Did he find work after you left Robert's then?
Mrs. Oswald. Yes.
Mr. Rankin. You did move to be with your mother-in-law, lived
with her for a time?
Mrs. Oswald. Yes, about 3 weeks. And then after 3 weeks Lee did
not want to live with her any more and he rented an apartment.
Mr. Rankin. Do you know the reason why he did not want to live
there any more?
Mrs. Oswald. It seemed peculiar to me and didn't want to believe
it but he did not love his mother, she was not quite a normal
woman. Now, I know this for sure.
Mr. Rankin. Did he tell you that at the time?
Mrs. Oswald. He talked about it but since he spoke in English to
his mother, I didn't understand it. There were quite a few scenes
when he would return from work he didn't want to talk to her.
Perhaps she thought I was the reason for the fact that Lee did not
want to talk to her. And, of course, for a mother this is painful and I
told him that he should be more attentive to his mother but he did
not change. I think that one of the reasons for this was that she
talked a great deal about how much she had done to enable Lee to
return from Russia, and Lee felt that he had done most of—the
greatest effort in that respect and didn't want to discuss it.
Mr. Rankin. Where did he find work at that time?
Mrs. Oswald. Of course, if I had been told now I would have
remembered it because I have learned some English but at that time
I didn't know, but Lee told me that it wasn't far from Mercedes
Street where we lived, and it was really common labor connected
with some kind of metal work, something for buildings.
Mr. Rankin. Did he ever say whether he enjoyed that work?
Mrs. Oswald. He didn't like it.
Mr. Rankin. Do you recall how long he stayed at that job?
Mrs. Oswald. I don't know but it seemed to me that he worked
there for about 3 or 4 months. Perhaps longer. Dates are one of my
problems.
Mr. Rankin. Do you know whether he left that job voluntarily or
was discharged?
Mrs. Oswald. He told me that he had been discharged but I don't
know why.
Mr. Rankin. When you left the mother-in-law's house where did
you go?
 Mrs. Oswald. I have already said that we moved to Mercedes
Street.
Mr. Rankin. Did you have an apartment there?
Mrs. Oswald. Yes, we rented an apartment in a duplex.
Mr. Rankin. Do you recall the address on Mercedes Street?
Mrs. Oswald. No, I don't remember the exact number.
Mr. Rankin. Will you describe the apartment, how many rooms it
had?
Mrs. Oswald. Living room, kitchen, bath, and one bedroom.
Mr. Rankin. This was the first time since you had come to this
country then that you had an opportunity to have a home of your
own, is that right?
Mrs. Oswald. No, we had our own home in Russia.
Mr. Rankin. Did your husband work a full day at that time on this
job?
Mrs. Oswald. Yes, sometimes he even worked on Saturdays.
Mr. Rankin. What did you do when he came home, did he help
you with housework?
Mrs. Oswald. Yes. He frequently went to a library. He read a
great deal.
Mr. Rankin. Do you recall any of the books that he read at that
time?
Mrs. Oswald. No. I only know that they were books more of a
historical nature rather than fiction or literature.
Mr. Rankin. In your story in Russian you relate the fact that he
read a great deal of the time. Could you describe to the Commission
just how that was? Did he go off by himself to read or how did he
handle that?
 Mrs. Oswald. He would bring a book from a library, sit in the
living room and read. I was busy with housework, and that is the
way it happened.
Mr. Rankin. Did you have differences between you about the time
that he spent reading rather than devoting it to you or the other
members of the family?
Mrs. Oswald. No. We did have quarrels about his relationship to
his mother, the fact that he didn't want to change his relationship to
his mother. I know that he read so much that when we lived in New
Orleans he used to read sometimes all night long and in order not to
disturb me he would be sitting in the bathroom for several hours
reading.
Mr. Rankin. Did your quarrels start at that time when you were at
Mercedes Street the first time.
Mrs. Oswald. Yes, we didn't have many quarrels.
Mr. Rankin. When you were at Mercedes Street did you have
Robert visit you or did you visit him?
Mrs. Oswald. No, he came to us sometimes.
Mr. Rankin. Do you recall seeing any guns at Mercedes Street
while you were there?
Mrs. Oswald. No.
Mr. Rankin. Did your mother-in-law come to see you at Mercedes
Street?
Mrs. Oswald. Yes.
Mr. Rankin. Will you describe the relationship between your
husband and your mother-in-law while he was at Mercedes Street?
Mrs. Oswald. She did not want us to move away to Mercedes
Street, and Lee did not want to remain with her and did not even
want her to visit us after that. Lee did not want her to know the
address to which we were moving and Robert helped us in the
move. I felt very sorry for her. Sometime after that she visited us
while Lee was at work and I was quite surprised wondering about
how she found out our address. And then we had a quarrel because
he said to me, "Why did you open the door for her, I don't want her
to come here any more."
Mr. Rankin. During this period did your husband spend much time
with the baby, June?
Mrs. Oswald. Yes. He loved children very much.
Mr. Rankin. Did you obtain a television set at that time?
Mrs. Oswald. Lee wanted to buy a television set on credit. He
then returned it. Should I speak a little louder?
Mr. Rankin. Did Robert help any with the money or just in
guaranteeing the payments?
Mrs. Oswald. I think that he only guaranteed the payments.
Mr. Rankin. Do you recall how much the television set cost?
Mrs. Oswald. No.
Mr. Rankin. So far as you know it was paid for out of your
husband's income?
Mrs. Oswald. Yes.
Mr. Rankin. Were you still at Mercedes Street when he lost his job
with the welding company?
Mrs. Oswald. Yes.
Mr. Rankin. Did he try to find another job in Fort Worth then?
Mrs. Oswald. Yes.
Mr. Rankin. Do you know how much he looked for jobs before he
found one then?
Mrs. Oswald. He looked for work for some time but he could not
find it and then some Russian friends of ours helped him find some
work in Dallas.
 Mr. Rankin. How long was he out of work?
Mrs. Oswald. It seems to me it was about 2 weeks; hard to
remember, perhaps that long.
Mr. Rankin. Where did he find work in Dallas, do you remember
the name?
Mrs. Oswald. I know it was some kind of a printing company
which prepares photographs for newspapers.
Mr. Rankin. Was he working with the photographic department of
that company?
Mrs. Oswald. Yes.
Mr. Rankin. Was he an apprentice in that work trying to learn it?
Mrs. Oswald. Yes, at first he was an apprentice and later he
worked.
Mr. Rankin. Do you know what his income was when he was
working for the welding company?
Mrs. Oswald. I think it was about $200 a month, I don't know. I
know it was a dollar and a quarter an hour.
Mr. Rankin. Did he work much overtime at that time?
Mrs. Oswald. Not too much but sometimes he did work
Saturdays.
Mr. Rankin. Do you recall how much he received as pay at the
printing company?
Mrs. Oswald. A dollar forty an hour.
Mr. Rankin. How many hours did he work a week, do you recall?
Mrs. Oswald. He usually worked until 5 p.m. But sometimes he
worked later, and on Saturdays, too.
Mr. Rankin. The ordinary work week at that time was the 5-day
week then, and the Saturdays would be an overtime period?
 Mrs. Oswald. Yes.
Mr. Rankin. Who were the Russian friends who helped your
husband find this job in Dallas?
Mrs. Oswald. George Bouhe.
Mr. Rankin. Did this friend and other Russian friends visit you at
Mercedes Street?
Mrs. Oswald. Yes. When we lived at Fort Worth we became
acquainted with Peter Gregory, he is a Russian, he lives in Fort
Worth and through him we became acquainted with others.
Mr. Rankin. Will you tell us insofar as you recall, the friends that
you knew in Fort Worth?
Mrs. Oswald. Our first acquaintance was Gregory. Through him I
met Gali Clark, Mrs. Elena Hall. That is all in Fort Worth. And then
we met George Bouhe in Dallas, and Anna Meller, and Anna Ray and
Katya Ford.
Mr. Rankin. By your answer do you mean that some of those
people you met in Dallas and some in Fort Worth?
Mrs. Oswald. George De Mohrenschildt—this was both in Fort
Worth and Dallas, the names of my recital but they were well
acquainted with each other, even though some lived in Dallas and
some lived in Fort Worth.
Mr. Rankin. Will you please sort them out for us and tell us those
you met in Dallas?
Mrs. Oswald. You mean by the question, who out of these
Russians lives in Dallas?
Mr. Rankin. Or which ones you met in Dallas as distinguished
from those you had already met in Fort Worth?
Mrs. Oswald. In Fort Worth I met the people from Dallas. There
was George Bouhe, George De Mohrenschildt—no. Anna Meller and
George Bouhe only, they were from Dallas, but I met them in Fort
Worth.
Mr. Rankin. Did these friends visit you at your home in Fort
Worth?
Mrs. Oswald. Yes, sometimes they came to visit us when they
were in Dallas, they came to us. Sometimes they made a special trip
to come and see us.
Mr. Rankin. Did you ever visit them in their homes?
Mrs. Oswald. Yes, when we lived in Fort Worth we went to Dallas
several times to visit them.
Mr. Rankin. When you made these visits did you go to spend an
evening or a considerable part of the time or were they short visits?
Can you describe that?
Mrs. Oswald. We used to come early in the morning and leave at
night. We would spend the entire day with them. We went there by
bus.
Mr. Rankin. Did you have an automobile of your own at any time
during this period?
Mrs. Oswald. No.
Mr. Rankin. Did any of these people have meals in your home
when they visited you?
Mrs. Oswald. No. They usually brought—they usually came for
short visits and they brought their own favorite vegetables such as
cucumbers, George liked cucumbers.
Mr. Rankin. When you moved to Dallas, where did you live the
first time?
Mrs. Oswald. I did not move to Dallas together with Lee. Lee
went to Dallas when he found the job, and I remained in Fort Worth
and lived with Elena Hall.
Mr. Rankin. For how long a period did you live with Mrs. Hall?
 Mrs. Oswald. I think that it was about a month and a half.
Mr. Rankin. During that month and a half what did your husband
do?
Mrs. Oswald. He had a job. He was working. He would call me up
over the telephone but how he spent his time, I don't know.
Mr. Rankin. Do you know during that month and a half where he
lived?
Mrs. Oswald. At first, I know that he rented a room in the YMCA
but very shortly thereafter he rented an apartment. But where I
don't know.
Mr. Rankin. During that month and a half did he come and see
you and the baby?
Mrs. Oswald. Yes, two or three times he came to see us because
he had no car. It was not very easy.
Mr. Rankin. Were these trips to see you on the weekends?
Mrs. Oswald. Yes.
Mr. Rankin. When he came did he also stay at the Hall's?
Mrs. Oswald. Yes.
Mr. Rankin. When you were staying at the Hall's did you pay them
for your room and your meals?
Mrs. Oswald. No. No, she was very friendly toward us and she
tried to help us.
Mr. Rankin. What did you and your husband do when he came to
see you? Did he spend his time with you there in the home or did
you go some place?
Mrs. Oswald. No, we didn't go anywhere.
Mr. Rankin. Did he do any reading there?
Mrs. Oswald. No. I remember that it was only a couple of times
that he came for a weekend. Generally, he only came for a very
short period of time, because he would come together with our
friends, and they could not stay very long.
Mr. Rankin. When he came during that period did he discuss what
he had been doing in Dallas, his work and other things?
Mrs. Oswald. He liked his work very much.
Mr. Rankin. After this month and a half did he find a place for you
all to live together?
Mrs. Oswald. Yes, but it wasn't a problem there to find a place,
no problem there to find a place.
Mr. Rankin. Did you then move to a home in Dallas?
Mrs. Oswald. Yes, on Elsbeth, Elsbeth Street in Dallas.
Mr. Rankin. Do you remember the number?
Mrs. Oswald. No.
Mr. Rankin. How did you move your things from Mrs. Hall's to the
place on Elsbeth Street?
Mrs. Oswald. A friend who had a car helped us—I don't
remember his name, Taylor, Gary Taylor.
The Chairman. Suppose we take a recess now for about 10
minutes to allow Mrs. Oswald to refresh herself.
(Short recess.)
The Chairman. The Commission may be in order.
Mr. Rankin. Did that require one or more trips to move your
things from Fort Worth to Dallas when you went to Elsbeth Street?
Mrs. Oswald. One trip was enough.
Mr. Rankin. Did you observe any guns in your things when you
moved?
Mrs. Oswald. No.
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