Historical Newspapers of South Carolina

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2 The Clothmaker PUBLISHED MONTHLY BY CLINTON MILLS EDITED BY MACK PARSONS. EXT. S4 9ST>/^? /?\ Vj=i/ is WORDS, like men, take on different shades in varying lights. What is to one a common and vigorous word is to another an expression of contempt. Such a word is "profit." Those who buy in the marketplace say prices often are too high because profits are excessive. Those who sell in the market sav Drofits are too low because finv ernment takes too much in taxes. Those who work to make the goods say wages are too low in proportion to profits. Those who invest their funds in business say the cost of labor is too high to allow a good profit. What does this variable word mean? Literally, a profit is what is left over from the receipts of a business after the costs of doing business has been paid. This cost includes many things: wages, salaries, employe benefits, supplies and materials, wages on every level, rent. Profit is not guaranteed. Approximately 30 to 40 per cent of the com panies in business lose money in any given year. Who benefits by profits? The owners of the company who invested risk capital get the first benefit, either in the form of increased dividends or an increase in the value of stock. Most companies distribute only part of their profit in the form of dividends; some share part of the profits with employes; the remainder goes into expansion, equipment (and) is used to make the company produce more products, profits, and jobs. A company is both a buyer and a seller. A profit enables a company to buy more. One profit creates many profits in other lines of business. Profit means growth and growth is essential. Our population grows at the rate of about 7,000 persons a day. An expanding economy is a vital necessity if we are to live. ?. ' m Without profits this country would stop running. Profit is what makes a free society move. Take profit away and the free society ceases being free and becomes a captive society. Freedom ends when any force puts an end to the profit motive and the free enterprise system. The Government today tuxes more than 50 per cent of the profits earned by business. There is, happily, a growing realization in Washington that this goose that lays the golden eggs should not be killed and out of this realization is growing a program to relieve business of some of this heavy tax burden. This is encouraging, but it is not enough. The jungle of regulations that now clogs business, some of them conflicting, some contradictory, all of them drearily confusing . . . must also be cleared away so that our business community can operate in a manner consistent with the historical vigor of free enterprise. It is a truism that when Government constricts and constrains business to the point where it can no longer operate in an atmosphere of freedom, that when business becomes, in effect, another arm of the government, then the rights of free men, in or out of business, begin to dwindle and die. Words mean many things to many men. There are those in our country today who find the very word "profit" distasteful. Profit is a simple word. It is a necessary part of our life. When Government spends more than it takes in it must, of necessitv. nlacn excessive taxes on business profits. If these taxes become too burdensome, then profits will disappear. Then another word?freedom?will also cease to have meaning! CLOTHMAKER 4 Questions and Answers About Your Group Insurance Q ? If I went to a chiropractor for treatment would anything be payable under our insurance? A ? No, there would be coverage ^ for a physician who is duly qualified to practice medicine, perform all surgery, and to prescribe and administer all drugs. Q ? Does my insurance pay an ambulance fee if I had to be transported to hospital by ambulance? A ? Yes, the ambulance fee is covered in your covered charges provided you were admitted tc the hospital or had an injury and was 4 transported to hospital by ambulance. Q ? Does any part of my insurance pay for prescription drugs purchased at a pharmacy. A ? No, the only drugs payable under your plan are drugs you receive while confined to a hospital. Q ? If I have a hospital claim and several weplr? have nascpH and I haven't heard anything as to the f amount paid on my claim, how do I go about checking on this matter? A ? Contact the personnel department and they will be glad to look into the matter for you. Robert Dunuwuv Writes About Boys' State July 5, 1972 ^ Mr. Robert M. Vance, President v-nnion Mills Clinton, S. C. Dear Mr. Vance: I'm glad to say that I thoroughly enjoyed my stay at Boys' State. From the moment we arrived to the time we left, the enthusiasm and honor was magnificent. " I'm very thankful to Clinton Mills for sponsoring Guy Tumblin and me. us noou 10 Know mere are siui people in the world that care about the future and what it holds; especially the young people. Sincerely, Robert Dunawav a