DESPITE ECONOMY, AREA GIFT-GIVING EXEMPLARY

An announcement that Southeast Missouri State University's "New Vision of Excellence" capital campaign likely will surpass its $25 million goal illustrates the generosity in the region despite the nation's shaky economic conditions. It a lso indicates that people around the region generally are confident that the economy soon will improve.

Southeast announced last week that the campaign, which began July 1, 1987, with a private phase of fund raising, stood at 97 percent of its goal at the end of November. That phase generated $12 million in gifts and pledges. A second, public phase, which began Sept. 29, 1990, generated $12.2 million. In announcing the campaign's success, its director, Don Ford, said he is confident the goal will be surpassed.

Another fund drive, the Area Wide United Way campaign, also is about to reach its $470,000 goal. Campaign Chairman Harry Rediger just announced that it stands at $454,000, only 3 percent short of the mark. Even at $454,000, it is the most money ever raised by United Way in a single campaign in Cape Girardeau County.

While a sluggish economy continues to affect some parts of the nation, particularly the East, West and South, the success of both campaigns speaks well for economic conditions in the region.

The undaunted generosity displayed through both campaigns, coupled with reports locally of brisk holiday buying, continued low unemployment, and the possibility of commercial construction spending this year shattering the record in Cape Girardeau, points to an atmosphere of economic optimism in the heart of a nation with pockets of a sluggish economy.

Latest indications are that the federal government soon may cut interest rates further to help spur the economy. On Thursday, Michael Boskin, President Bush's chief economic adviser, told the Senate Finance Committee that the Federal Reserve has ample room to ease rates.

A week ago, the Fed lowered the rate banks charge each other on overnight loans by a quarter-point to 4.5 percent. And on Nov. 6, it lowered the discount rate from 5 percent to 4.5 percent in what was viewed as the most visible signal it can send of its desire to lower interest rates. Another half-point decline to 4 percent would put the discount rate at the lowest it has been since 1967. A further reduction is in order as part of any effort to turn the economy around.

Some analysts predict the Midwest, from Minnesota southward, will be the strongest economically through next year. They say as the economy brightens, which they expect it will, manufacturers will be among the first to benefit.

As evidenced, this region has not been as adversely affected by the sluggish economy as have other parts of the nation. The right moves from national leaders, which include further reduction of interest rates, would help put the nation back on a sound economic track.