The Object of Rotary has not always been expressed in this manner. The original Constitution of 1906 had three objects: promotion of business interests, promotion of good fellowship and the advancement of the best interests of the community. By 1910 Rotary had five Objects, as increased emphasis was given to expanding Rotary. By 1915 there were six Objects. In 1918 the Objects were rewritten again and reduced to four. Four years later they had again grown to six and were revised again in 1927. Finally, at the 1935 Mexico City Convention the six Objects were restated and reduced to four. The last major change came in 1951 when the Objects were streamlined and changed to a single Object, which has four parts. The “ideal of service” is the key phrase in the Object of Rotary. This ideal is an attitude of being a thoughtful and helpful person in all of one’s endeavors. That’s what the Object truly means.
Inflation is a rise in the general level of prices. Each dollar spent buys fewer goods. An increase in the money supply increases the inflation rate. A decrease in the money supply decreases the inflation rate. The Consumer Price Index (CPI) is used to measure inflation. CPI takes a basket of some 300 household items that consumers purchase and reports the cost for a certain period and compares the same basket of goods to the base year. Demand-pull inflation occurs when total spending exceeds the economy’s ability to provide goods at the existing price level which pulls the price upward. Cost-push inflation explains rising prices in terms of factors that raise per-unit production costs (McConnell-Brue, -143) Because of the rise in oil prices the cost of producing all other products consumers purchase will increase.