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* f* t foge Four %■ \t / THE CLINTON CHRONICLE HOTPOINT APPLIANCES SELLING QUALITY HOME APPLIANCES IS OUH BUSINESS, NOT A SIDELINE ' ' * HOME SUPPLY CO. CLINTON’S EXCLUSIVE AGENTS FOB HOTPOINT AND CROSLEY J. TRY OUR DIXIE DOUGHNUTS and COFFEE JOIN THE DUNKING CLUB AND LEARN HOW TO DUNK FRESH, TASTY, AND DELICIOUS AT ESSO SODA FOUNTAIN JOE’S ESSO SERVICE Telephone 128 CALL 431 w- - ■ ' 1" SHARPTON’S CAB SERVICE ' > ...and... SHARPTON’S SERVICE STATION t ^—...for... j , Courteous, Dependable Transpor tation and Auto Service — 4 - • • Cars Go Anywhere Day or Night TEXACO PRODUCTS Batteries — Tires — Washing — Greasing SHARPTON’S Corner Musgrove and Florida Streets F. W. SHARPTON, Prop. FATE ARNOLD Drivers JACK CAUGHMAN A JOLLY 6000 PARTY LINER shows the way to Better Party Line Service GIVE OTHERS A CHANCE A 'Time Out" between calls gives others a chance to use the line. RELEASE THE LINE IN EMERGENCY When another party on the line has an emergency, please release the line quickly. KEEP CALLS BRIEF This assures better service for you and your party line neighbors. HANG UP GENTLY When the line is busy, please "Hong Up Gently." H: Thursday, December 11,1947 Failure To Balance other useful commodities, together _ , ^ r\ n *.• I with a Jew* 18 , especially gold, Budgets Causes uetlation , diamonds and silver. Whether f Of WnrM'c Currencies taUt with a Germar > or Chinaman, ur Yvong s currencies | a Frenchinan or Engli5hman they ' By ROGER BABSON i are unanimous in the opinion that New York City, Dec. 5.—This week; 2°; d . diamonds and silver are the I am making no definite recommen- j on ^ things which, at ( alt times, are dations to anyone; but with the mess ^ orth something, everywhere. Hence _ thAQA arP Irnrtu/n ac M pmprapnnv emergency xnon- the world is in today, .here are some the s« are known as i facts for readers to consider. More- ey - 4 ! I over, they relate to changes which' Remember, I am not recommend-1 , I have personally witnessed in my ‘ n ® . new diamonds or anything else: 'short lifetime. My first job, after A* j in vestment for profit. Almost! i graduating from the Massachusetts ev ® r ything looks too high to me. But Institute of Technology in 1898, was as “emergency money and real en- as a statistician for a Banking House joytnent husbands might consider j ! in Boston At that time the lead- bu y in S their wives a good diamond i ing banks of New York, Philadelphia rin S for a Christmas gift. i SUBSCRIBE TO THE CHRONICLE 'and Boston were recorrimending the 1' ■ “ — —— Reichmark 3s as the safest bonds obtainable —better than United States Bonds. The Reichmark, at & COMMERCIAL HOUSEHOLD WIRING Electrical Appliance Repairing and Electrical Construction Work / Floor Plugs A Specialty ARNOLD M. CAM 29 S. Owens St. Tel. 245-J juuuuuugmaascnmniinaomaBpn, Gray Funeral Home , Clinton, 8. C. FUNERAL DIRECTORS 4 EMBALMERS AMBULANCE SERVICE Phonea 41 and 399-J L. RUSSELL GRAT and V. PARKS ADAIR, Gen. Mgr*. SUBSCRIBE TO THE CHRONICLE SOUTHEKN BELL TELEPHONE AND TELEGRAPH COMPANY that time, sold for about 24 cents. , |*j Within twenty years, I saw’ these g German Government Bonds be-. jg come practically worthless. It is ‘.j true that the German Government ft redeemed them in ‘‘Marks'’ but these Marks had dropped from 24 cents to; ! 1-10,000 of one cent. Moreover, j holders of German insurance poli-'g cies;and bank-deposits suffered the 1 g same loss. Nothing,like ttys will hap-ip pen in the United States. But in-, g Ration has always existed since the ; ;.» days when the old European Kings] ft clipped their people’s gold coins. ] S Inflation will continue to be a ifac- d tor and the value of every currency j U 'will probably contine to decline. :j 1 What has happened in China? Ijg have always been interested in Chi-jS ' na. My ancestors were in the Chi- > ! nese trade, sailing ships from Glou-! icester to China ports. At that time l | the Chinese dollar was worth 50; ‘ cents in American gold. China was : ruled with an iron hand by an old ! lady, Tzu Hsi, the Empress Dowager, who never heard of Communism, j The budget was always balanced. Ju$t before World War 11, I was. ill China inspecting the Shanghai] Power Company. At that time, Chi- J nese dollars were worth 5c in Amer- l ican money or it took only i20 Chi-; nese dollars to get a United States] dollar. This was only a few years ago. Today, it takes about 150,000 Chinese dollars to buy one American dollar. This has not been due to any dishonesty, as was the case with Ger many. It has happened through a constant failure to balance the bud get. Turth About France Before World War I, I had num erous clients in Paris, and visited there often. The French franc, at that time was worth 20 cents in American gold. It was looked upon as stable as our dollar is looked upon today. During World War I tnis franc gradually declined to about 5 cents. This was not due to dis- honesty, but to failure to balance the budget. Just preceeding World War II the franc had declined to around 2 cents. Since then, through further failure to balance the budget, a huge govern ment debt and other economic causes the franc has declined to a point where it is difficult to get a french man to accept them at any ^price. They are probably wortft about 1-3 'of a cent. This means that it takes about 300 francs to buy one Ameri can dollar. , The British Pound Up until World War II, the British pound has been the standard cur rency of the world, and it has sold for nearly $5 in American currency. During World War II, it fuctuated from $2 to $3, according to the fate of the British Navy or Army. After World War II, the pound was the oretically stabilized *at $4.03 in Am erican dollars. Apparently, however, thi^ is a fictitious amount, as illui- 'trated by the following incident. Some English interests have been endeavoring to purchase two Glou cester trawlers. After long negotia tions (the British are wonderful traders) a pric4 was agreed upon. The owners, naturally, expected to get dollars, but upon going to Eng land to get the money, were told told they must be paid in pounds. When my Gloucester friends re turned to New York they found they could get only $2.75 in American dol lars for these British pounds. This did not happen years ago; moreover, it did not happen in China, Ger many, or even France. It happened last week in New York City. What about the United States? I believe in the United States. All I have I owe to the United Staes, and I am ready to give my fortune and life to the United States. But, I am unfair to my clients and read ers not to frankly call to their at tention what is happening all over the rest otf the world, and what may, happen in the* United States. Cer tainly, our dollar, like the money of all other countries throughout the ages, will gradually decline in purchasing power. How far this will go, nobody knows. What can we do to protect our selves? First we can work to re duce the. United States Government debt and increase the United States production of goods through better work and new inventions. When talking with clients and refugees from other countries, they empha size the importance of every family owning mbre real things, inclu(iing a small home arway from bombing danger with fertile land, fuel and DiximaiD is Better Made Life of the Party! 4 • I * ’ . ’ Make a party out of today’s din ner by serving DiximaiD Ice Cream. Each taste is a thrilling experience; each portion an investment in the finest of foods. SERVE IT TODAY! PACKAGED IN PINTS i !- i DiximaiD is Better Made ’Em Right! Read The Chronicle-Your Neighbor Does Made with the Flour That’s Made for the South Enriched AMERICAN BEAUTY Hot biscuits, wonderfully tender, light as clouds. Blessed with golden butter and all the honey they’ll hold, they’re so delicious your family will want more ... and more ... and morbI The secret is American Beauty Flour’s special baking qualities. American Beauty provides double baking help— guaranteed American Beauty Flour (Plain or Self- Rising), and the Photo-Method for Biscuits with step-by-step action photos to make you an expert biscuit-baker I Here’s one of the famous tested recipes from it. Send for the complete Photo-Method now. i It’s free! THE CHRONICLE costa leas than 4a s week delivered tar year hate. Where can yea get so mack fer se little? Call 74. AMERICAN BEAUTY BUTTERMILK BISCUITS A 2 cups J£nriched American Beauty Flour* 3 teaspoons baking powder i/ 2 teaspoon salt 1. Measure 2 cups sifted flour. 1. Measure baking powder and salt. Add to flour and sift together into a mixing bowl. 4. Measure shortening; add to dry ingredients. 4. Cut shortening into the dry ingredients until mixture resembles a coarse meal. ' I. Stir soda into buttermilk. 4. Add milk gradually, mix ing only to blend. 4 tablespoons shortening 1 cup buttermilk or sour milk N 1/2 teaspoon soda y. Turn dough out onto a floured breadboard; knead 30 seconds to form a round ball. S. Flatten dough to inch thickness, using floured hands or rolling pin. 9. Cut dough into rounds;* {dace on ungreased baking sheet. 10. Bake in a hot oven (450°) 12-15 minutes until lightly browned. < MAKES TEA GEMS! MAKES CINNAMON ROLISI MAKBS MOP BISCUITS! MAKES CHICKEN PIE TOPPING! •If American Beauty Self-RJelng Floor is qped, omit baking pewder and salt in recipe. ■ AMERICAN BEAUTY FLOUR ' Hl K ° UR IS YCU u o* Complete directions for making 8 differ ent variations free I Write for your copy of the PHOTO METHOD for BISCUITS. FREE! YOUR CONY Of 1HI photo method for mam 1 1 Virginia Roberts, Dept. No. ISO-S J I American Beauty Home BeUag Institute ' iDaltae-l, Team I Heme send me aw n«K COPY of the Vint I Roberts PHOTO-MRTHOD for BISCU1 I checked below. I For urn with American Beauty Flour. ——For use with American Bee Flour. . Name 11 , 1 I I J. C. Todd Grocery Company DISTRIBUTORS CLINTON, S. C.