The Clinton chronicle. (Clinton, S.C.) 1901-current, September 15, 1932, Image 8
PAGE SIGHT
W
•V
\
\*f
/
•/
/
\
THE CLINTON CHRONICLE. CLINTON. S. C.
: bonus seekers in any foj-m cyept ac*! Qtfuac
tual cash, and that would mean either * vFllld dIC
a practical doubling of all federal tax
es, or the. offering of an enormous
public loan and increasinfi: the nation
al debt.
Upward Turn
Checrinjf Mortjfajfe Nee'S i
Perhap.s the most widely cheerinjTj
news that ha.s come out of Washin}?-
ton in a lonjf time is that there is to
be a Ift-up in the foreclo.'ure of mort-
Holds Economic Conditions Ap
parently Improving Though
At Times Will Fluctuate.
0
0.
0
E
Washinprton, D. C., Sept. 8.
Washington, Sept. 10.—Atlee. Pomer-
ene, chaiTtnan of the Reconstruction
^ages. It started when Franklin Fort, Finance corporation, said tonight that
president of the newly created Federal ^ conditiona apparently were
E
E
Home Loan Bank organization, per- . . -«
since the early days of the centur>-, | suaded the comptroller of the curren-though at times
when Theodore Roosevelt was presi^^y to telegraph instructions to all re-! they will be fluctuating, the trend is
E
dent, has so much 'violent critici.sm of
govefnmental methods and public men
appeared TTr TpriTTr"as TiasHS^h”coming
out in the past year or so. It is the'
ceivers of national banks ordering decidedly upward.”
them to suspend all foreclosure pro-j gpoke over the Columbia Broad-
ceedings. This was followed by an ap
casting system.
“If we can credit the information
that cornea ta^vthe' Jleconstruction'’ Fi
nance corporation frbm every section
said an advance text
peal to the 'various state bank super-
sort of stuff which President Rno.se-j‘ntendents, and practically all of them
yelt denounced as “muckraking.” .No. j have agrwd that forced sales under
body in Washington i.s exempt, from fi cclosure proceedings for the reali-
the president down. There is hardly a r.rtion of assets of failed banlaj( will be j of the country,
menrher of congress, or a pliblic of-!.'ii’pended for sixty days' or more: made public by the R. F. C., “cohdi-
• ficial above the grade of bureau chief hile the Federal Home Loan bank is | tions are materially changing for the
who has not been bitterly attacked cing org'anized. j better. This improvement began in
and criticised by one or another of th The Home Loan bank expecits to be j June.
group of Washington newspaper men ,n a po.sition to lend up to 40 per cent] “The president is my lauthority for
"Wh^" iffe waiting bbrjd‘~a!t;r nmga"rThT‘^ )Tlhe~apprais<^ va!Tre W during the depres-
E
E
E
E
rties, and so make it possible forlsion $2,400,000,000 in gold and in oth-;
home owners who are
retain their homes.
in distress to er investments were withdrawn from
articles'.
The latest of these exposure.- is a
book w'hich gives the record of the ex
pense bills and mileage charges col-: " ’
iected by numerou.s senators and rep- j Possibly the most enduring and far-
resentatives. Few p<*(iple realize that, effect of the business men’s
under a law enacted more than fifty' conference held in Washington in the
years ago, ever>’ member of-both j la.st week in August may come from
house.s is entitled to collect forty I the stimulus which was given there to
cents a mile from the treasury at the ! the demand for the general adoption
lieginning and end of each session ofjf>f the five-day week in‘industry and of about $20,000,000 per weekv The
congress, as traveling exptmse. That business, and the division of work, j low point in monetary gold j^tocks for
dates back almost to the stage coach {wherever that is possible, so that with-i 1032 was June 15, when it was re-
days, whbn traveling was really ex-i out increasing payrolls three men can ! duced to $3,900,00pj)00. Septemh(*r 7
pxmsive and necessarily slow. A mem- ‘ employed where two are now em- ■ ouf , stock of gold
tier from the Pacific coast, who pays ' ployed, or any some such proportion
the United States by foreign nations
and their nationals, our banks and fi
nancial institutions by our own citi
zens. Necessarily we feel the effect
of these withdrawals.
“In June the withdrawals of funds
from the United.States stopped and a
return flow of gold began at the rate
had
increased
$4,J05,000,ptK), or a total increase
to
of
about $275 for his railroad and pull-i All reports re<-eived here indicate , $iyb,()pa,000.
man fares in going to Washington and
returning home, draws more than
.$1,300 for those expenses, under this
forty-eent.s-a-mile law. .And if a spec-
that thi.s plan is meeting with the ap-1 ‘jJfank failures in August numbered i
proval of business men and manufae-^nly K.5, compared w’ith 131 in July.j
turers, not only in the hijjt indu; trit*and 1.51 in June. During the past six
but all the way down the line.
ial session.H follows immeilialelv on the*
h<'els of a regular session, a.< is often;
weeks total loans and inve.stments of
reporting meiMn'r banks of the‘fed
eral reserve system have increa.ed
That Eoi.momic Conference
the case, the government pays each' In appointing J^drmjin H. Davis of $200,000,000.
member a round trip expense allow- Nr w’ York, as one of the .American i “I he leading stix'ks have more than
anee of forty cents a mile, even if they members of the international commit-1in price since early in July
don’t leave Washington between the ...... . ....
two .sessions.
.Such revelations a^ these are stir
ring up a lot of .questions hack th the
home states and districts, and it is no
secret here that a great"^many mem-
tee w’fiieh is to make arrangements I stocks have tripled in value.!
for the national economic conference "During this same period, acc »rd-
to he held next*fall. President Hoover ing'to our statisticians, a leading n-
again stepped over party lines. .Mr. dex of 00 bonds has advanced from a
Davis is a Democrat. He w’as iiiuler-' low of 57.5 to 76 Septem'ber 7. .Sim.-
secretary of the treasury and urideT-Jarly commodity prices have risen
I
8
E
E
E
E
n
n
hers in both houses are considerably I‘ecrotary of state in President Wil-' again. Our statisticians report that aj
w'orried. A very intere.sting li.st has
heem compiled of senators and repre
sentatives who have put members of
their own families on. Uncle Sam’s
])ayioir as secretaries, committee
clerks and the like. ITiat is another
o’d Washington cu.-tom. The state
ment has been made here that at least
f( rty-four men of both* houses have
failed of renomination because of
t.'ie.-e exiiosures.
son’s administration. He was. one of I index of commodities has a(t-
the American delegates to the Inter-1 vanced almost 10 per cent from S7,3
national Di^rmament conference, and j July 14 to 05.6 August 30.
is a member of the finance committee | “Farm and textile products are not-
of the I.eague of Nations. He is an ! a^>l«" examples, the farm products in
experienced international financier
and an able diplomat, and his appoint
ment indicates that the forthcoming
conferenca is going to he taken quite j
dex advancing from 64 to 76.6 and the
textile products index advanenig from
65.5 to 78.
‘Wheat prices have increased fr<*iM
seriously
The principal problem which that
conference will trv to solve is that of
Bonus .Again in Iks-ember?
cstahli.shing some equal standard of
\N a.'shington is wondering what will
money*which can he utilized every
where in the worJd, so that the ine-
a low of 58 cents per buShel Jialy I to
about .72 cents Si'ptember 6. Cotton I
prices have advanced from a low of
5 cents per pound .June 1* to a high of
cents or lietter September 6. ('otton
prices have reacted -somewhat during
E
hj^nm^xt Winter when , uf-iurdgp.hangci, and the j thi^JMiiLjiiiy-iiii-siijiut are more .than
convene.^ and the .American Legion, as
an organization, makes its demand
for immediate cashing of the veter
ans’ bonus cerlifieates. With a ma
jority of the state conventions of the
l>‘gion having endorsed that demand,
it tiegins to loom as one of the uiajor
problems whieh the authorities in |
Washington mu.>l faee.
^he eotigress which meets in next
1,8'cemher will he the same congress
that adjourned in .July, .>«ince the new
memU'is to l>e elected in Novemln'r
consecjuc'iit dislocation of international per cent, above the low.
trade may he abolished.'The belief is> “Textile prices have likewise ad-
growing here that some sort of an in-l'UHced partly because of the higher
ternational agreement to put a modi-' <’<>tton prices and partly liecausc of
I
cum of silver alongside of gold as the
metallic basis of money can he accom-
the increase in cotton cloth produc
tion.
“Some days ago the secretary of the
tieasury callc'd for bids for $750,000,-,
000 five year 3'a per cent notes. This
morning the press carried the cheer-'
ing news that total subscription.s were i
six limes the amount reejuirt'd.
“Uonditions financial and indu»triar
it! have been most discouraging during ;
might ^)e resumed, I the last three years,, but the Recon-1
the papers have been full of state-1 sti uction Finance corporation i.s con-1
ments as to the sums the brewers and ; vinced that they are constantly im-
distillers are prepared to siKMid. You, pioving and thought at times they
might think that the money was to be ("ill he fluctuating, the trend is de-
”( IIA.MI’ION OF THE Liqi UR
' rOWER”
.Since the two major politcal con
ventions ifave to the nianufacturers
of intoxicating licjuors promi-^es that
will not hegiii their terms until .March highly profitable occupation
4th. .Nobody in or out of the adminis-' jjp, industry
tration is able to advance even a guess
as to where the money would come
from to pay out $.H,00U,0lt0,(H»0 in im
mediate ca' h.
It is pointed out that the immense* I paid into the jiuhlic purse, so great is fidcdly upward.”
sums handled by th« Reconstruction i the gusto with which the Busch, I’abst
F'inance corporation and other agen-"'and other brewing and distilling in-
C'ies for the staliilization and recovery terests announce the millions they are!
of business do not call for any cash ix‘ady to spend in reconditioning theirj
at all, and aie in no sense gifts or ap- plants. Of eour.se, the public in the j
proprialions of public money. They ' end pays for it all. The millions will |
are loans of credit made on the best; flow hack into the coffers of the al-
possible .security. Hut it would be im-i epholic jilutocrats. If they did not ex-i
possible to satisfy the demand of the jiect the retiirn they would not make j
~ 'the initial expenditure. ' )
A great many people, many of them
j highly estimable, are eagerly urging
Two Children
Die On Tracks
• 1
I
E
E
E
E
E
B
i
PTS TIME TO THINK
OF ALL YOUR NEEDS
We are ready to serve the school children’s
and teachers’ wants with everything for the
class room except textbooks. We have ample
aMortments of all school supplies needed, from
the small tot to the college students. .
Composition Books
Looseleaf
Note Books
Looseleaf Fillers
I
E
E
E
B
E
B
B
B
E
Examination Tablets
/
Pensil Tableta
School Bags
lx's! wing Tablets
ink Tablets-
Pencils, all kinds
Fountain Pens"
I
. Pencil Boxes
Erasers
Ink, all kinds
Pen Points
t
Paste
Crayons
Glue
Rulers
Compasses
J. W. Hill’s Car Stalls On Track.
- He Is Critically Hurl. Mother
of l*air Will Recover.
E
E
For WomenV
Aches and Pains
E
Women who suffer from headache
backache, and periodic pains find
Capudine the ideal remedy. It’s
liquid, therefore acts almost in-
teaspoonfuls in
a hUle water. You’ll be .delighted
withi the quick relief. SoAthes the
nervMjand brings comfort] and re
laxation. Why not keep A bottle
J ndy. At drug-'fflores, in single
dose, or m 10c, 30c, and 60c sizes.
(adv )
J. R. Crawford
Surveying :: EnRineerinjir
Contracting
Telephcne 2604 Clinton. S. C.
Greenville, Se*pt. 10. — A freight)
*the changes in the law that will en-i train roaring southward near here to-- Jj
able the bi'ewers and distiilers to re- day snuffed out the lives of two mem-1 ll
sume tht ir profitable trade. Some are hers of a family en route-to a funeral j
animatt‘d by an appetite for liquor and injured two others, one critically,]
not conveniently met under prohibi- as it crashed into their automobile; j|
I tion./ Others think, v^'ith good reason, parked on the tracks. j L
that their income taxes will be ma- Two children, Ezra and Mildred] j|
terially reduced, if taxation can be I Hill, aged 1) and 12, died instantly. 11»
shifted to the poor by means of a tax Their father, J. W. Hill, sustained se-j
upon beer. Others despair of the en- rious injuries about the head and their
forcement of prohibition, or think it mother received severe lacerations and,
[invades personal liberty, or see in it ibruises. Her condition was not.so se-l
! the cause of all present ills from juve- rious as that of Hill, who w’as not ex-,
nile delinquency to the existing de-1 pected to live. rj
piession. But one and all, the foes of The parents were brought to a hos-^
. piohibition, whatever the explanation j pital here where it was found one ofj
'they give of their attitude, are con-'Hill’s ears had been cut off, that a
trlbuting to the return of the liquor hand and arm had been crushed pnd
, power, to its reestablishment as a po- that inijuries to his head probably
litical force, and as a factor in social would prove fatal.
E
E
Water Colors
I
Spelling Books
Chalk
Pencil Shsurpeners
1 debauchery.
I
NOW IS THE
TIME TO BUY
o ■
Several residences in town.
Several farms, prices at-
Hill and his family were on their
state these rather obvious facts way to a funeral when he arrived at
orf-the-indination-of wetr-paJ^ -vrasaing^. nea the .jautskiris of
pers to denounce as bigoted and inso-, Greenville. , |
lent anyone who describes men of hfgh i Witnesses said he saw a northbound j
j standing like President Butler of Co-1 train approaching oh his right and;
! lumbia univer.sity. President Hutchins j that he stopped, apparently forgetting I
of (.’hicago university, or President j his machine was parked across the^
Hopkins of Dartmout college, as (southbound tracks.
tractive.
Houses for rent, Broad St.,
Owens Hill and College
View.
CUntdn Realty &
^faisurance Co.
B. H. BOYD'
“champions of the liquor power.”
: Whatever their reasons or "Explana
tions tliey are precisely that. Except
; for its championship by men of that
type, it is improbable that the liquor
power would today be boasting that
it is within seeihg distance of victory
over the prohibition policy of the na-
tion.-«-Wi^s J. Abbott.
-i'/i
BUY COLUWS
CoHier’a Magazine—$2.00 year.
In clubs for $1.75.
JAMES W. CALDWELL
As he waited, the 8outl\bound train
sped on, the engineer’s view of the
crossing obscured until he was with
in 100 yards.
As the approaching freight bore
down on the parked car, the engineer
vainly tried to stop his locomotive
while Hill attempted to back his car
off the tracks.
Both efforts failed and the engine’s
pilot crashed into the side of the ma
chine, splintering it and caflrying it
300 yards down the track.
Send the Children Here
for Their School Supplies
We Sell Quality Merchandise Only
The Chronicle
-J
im
♦0^
4'
Publishing Company
Stationery Department
Telephone 74 ' Clinton, S. C.
• \
V
r.