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Mondale, criticizing Reagan, urges 'sensible defense' policy

Walter Mondale, making his third campaign trip in three weeks to the South, is preaching ''a sensible defense'' policy and criticizing President Reagan for free spending on big-ticket weapons. Mr. Mondale began his trip with a flight to Little Rock, Ark., Tuesday for a ''citizens forum'' to take questions from the public. He was scheduled to visit Memphis later in the day.