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> . * Page Four / r THE CLINTON CHRONICLE Thursday, February 26, 1948 Economist Discusses Its Relation To Hiqh Prices currency, this paper money was spent, and hence, greatly inflated the amount of currency outstanding of Russia, however, does not increase the amount of food,' cloth- .. a v\ i *<■ |ing and shelter available to the Rus- , J „ MnnPV Itc PPmfinn people- which are the things in ^ ie swapping oi gold dollars for I lUIICf, llj IVCIUIIUII which they are really interested. lP a R er mone y th ^ n increased the II' I v\ 1 " i, j * -r « amount in circulation;- why wouldn t High Prices , Tn T n could aK ? m :'n>« «'•««« ■>» ««■* if wash- lliyil riltw phsh the same thing m a gradualj ington js ^ wrious in redlto „g; .Rv ii,,..i w ,, , _ " ginernmen e • t he amount at money in circulation, (B> Roger IV. Bab«ml increasing bank reserves raismg m-, w o£ter „ , heir w dol . Babson Park, Fla.. Feb 21-S,nce terest rates, and itorbiddmg mstal-, ^ ba( . k ^ ^ ^ ^ ^ pa , my relent column stating that h-ab ments sales but tor political or oth-| dollars . which lh would , urn prices are largely a matter of “sup- er reasons the administration shies The u g treasu has - g0 ' ld ply and demand." I have’received away fijom sound recommendations.; . , ' . many letters of protest. These let- Readers will-remenjiber that dur- j ^ ave just finished reading a ters claim that the “amount of nion- nvg-the early part of the Roosevelt, new ^ ^ Ansley j Coa]e en _ ey in circulation” is the main cause, administration, when we he d more. ‘-Vulnerability to Atomic There is about three times as goW than any other. President Roose-, epared under lhe diVec . much money in circulation today as veil made us urn in all of our go d ^ Qf the Social Reserch there was 10 years ago. This doubt- coins_ At 'that tune gold was worth n is blished by the l«s is a factor in the situation, but $ >0.6, per ^>unce compared with $35 i Pnnceton University p ress and it makes no difference how muen per oupce for gold today^ Mr. Roos-, ^ ^ by everyone This of circulation li people do not buy evelt did this on the advice o* the,^ )plain]v shows ^ if World money is in circulation or the rate, same economists who are now. razz- In shmjld came> ]t wouId de . ® 0 °^ s - i m ® Q /v me ° r saytng , a lT } a 101 ? stroy some of our large cities. Aifter Ten men may be sitting around a 1S 90 per cpnt a que9twn of Sppy j reading this book, I made up my table where each one owes the other, 3 ™ demand. i mind tQ put some good bank note3 a hundred dollars, <ir a total of SI,- President Roosevelt fhen robbed; a fp depiosit \'ault and, in fact, >0. By presenting one of These men the American people <>. billipns o, j^ide away some silver dollars or. i $100 bill he can pass it to the next dollars -which they had honestly, ■nan. and the next man to the next earned. It was as bad as what Rus-, every reader would follow the nan. and so on; then this $100 can skfUi, dumg U>day. The gold which . above program this would result in pay up the entire debt of $1,000. the citizens of the I nited States then reducing the amount of mohev in But this does' not affect prices one held was not used for circulation. It | circulation which the economists 1 jenny. was in the bureau drawers of ou r ; §ay i s necessary- and, at the “same 1 \\ hat Russia has recently done in wives and cnildrcn, it was carried time give each of us some ready educing the amount of money in in our own pockets ' “ -- J for luck and; money in case World War III -closes irculation was done at the sugges- emergency; and much of it was in our i ar ge city banks! Certainly, the ion af- her economists who, through safe deposit boxes throughout the government cannot object to us idvance notice, had their savings country. When, however, President;§tb r ] ng U p good bank notes and sil- n land, Commodities, and other real' Roosevelt forced us to tufn in all of; ver vvhen claiming that the amount hings w.hich were not deflated. This this gold and exchange it for paper circulation is responsible for high 1 prices. The Cak$ of a Thousand I I ^ • ■* a ClauSSehS POUND CAKE f/ze&//iryMZGzoc£& PROFESSIONAL WRESTLING CLINTON ARMORY o ___ Friday, February 27th 8:15 P.M. SPONSORED BY CLINTON POLICE DEPT. Jim Benedetti vs. 7: 5v V V X x‘W ■' ''' < i ■" mi COME ^ ENJOY GOOD WREST LING BY PROFESSIONALS • VI ' r J. Senate Adopts Three Amendments On Roll Call Votes Joie Lopez SPECIAL ADDED ATTRACTION Dotty O’Shea vs. Midge Marsh George Schnable Fred Ward General Admission 75c, Ringside SI.20 Tax Included ' v ... * ’ - Tickets 09 Sole at Bishop-Walker Pharmacy ^ - and Louie's Restaurant Columbia, Feb. 24—(Special to ! The . CHronicle) —While considering ■ ' the general appropriations bill last ! week the senate held four roll call votes on controversial amendmeilts I proposed to the bill, three of which' ! amendments in question. The amendment to change the pei-; cottage of state income tax allocat ed’-to the counties from seven-and-. a- half per cent to ten per cent was adopted~by a.25 to 14 vote. Senator O. L. Long voted against the amend ment. An amendment -was-- adopted --pro— viding “that hereafter all school teachers.in 1 South Carolina shall be given five days sick leave with pay for each regular school term, and in all instances where substitute teach-! ere act for the five days provided, such substitute teachers shall be paid by the staite from the general school fund.” The amendment was adopted by a 23 to 12 vote, with Senator ! Langdon Long voting in favor of the amendment. The senate refused by a 26 to 13; vote to kill an amendment appro-1 priating approximately $900,000 more to the State Department of Public i Welfare than the amount specified in the Senate finance committee ver-1 i sion of the appropriations bill. Sen- 1 jjator O. L. Long,_ one of th^ authors 1 of the amendment, voted in its fa vor. Tne proposed amendment which was rejected by a roll call vote was the amendment suggesting that half; the amount allocated to the counties I from the state income tax be dis- j tributed ori a population basis, and; the other half on the basis of- the ra- I tio that the state income taxes col lected in each county bears to the ; total collected. Senattrr'Lorrg-woted in favor of the amendment, which was killed by a 24 to 17 vote. 4 Additional County Roads Added To State Highway System ! —♦— Columibia, Fab. 24.— (Special to The Chronicle).—The state highway | commission at its monthly meeting | held in Columbia last week awarded | a contract for a road project in Lau- i t ens county, approved the addition ;<xf a belt line road in Laurens county j to the state highway system, as well | as two Laurens county additions tc j construotion program “C,” the larm- to-market program. , j The project in the county for which a contract was granted consists of the j grading and bituminous surfacing of J 3.78 miles on road 22 (route 308) from U. S. route 221 near Ora to ! route 30. The project was awarded to the Palmetto Construction Co., Inc., Columbia, whose bid of $35,140 was the lowest of the ten bids en tered. A belt line road in the county from road No. 17 (route 252) just east of its junction with route 39 northwest erly to route 39, a length of approxi mately .4 mile, was added to the state highway system. The two county additions to the faAm-to-market. program which were approved by the commission were: 1.1 miles on road No. 63 from U. S. route 25 to Saluda river, at an esti mated cost of $14,000, and .4 mile on road No. 74 from route 252 nortn- westerly to route 39, at an estimated cost of $2,000. CITY SHOE SHOP Pitts Street Expert Shoe Repairing Clinton and Goldville S. D. Dawkins & Sons * Y j \ w- . 1 ^ L J S . w • • • •SAVINGS GREAT IN ’48” • V- / / ■ * Clinton’s Shoe Headquarters i % Hglf fh» Fyn „ ef Moving Foot* BnicLgi CHOOSE FROM A CHOICE SELECTION OF THESE FINE MAKES —Red Goose, for boys and girls —Natural Bridge Arch Shoes, for real comfort —Fortunet, play shoes * —Daniel Qreen, house shoes —Friendly, oxfords —Forest Park, dress shoes —Connie, dress shoes —Miracle Tred, dress and arch types —Sweetbriar, casuals and oxfords —Mrs. Days, ideal baby shoes 0 . to *tori® ttS cototo' Every Fair Bought Right, Rriced Right, _ To Save You Dollars Every Pair Proven Quality Every Pair Perfect Fitting "Every Pair Sold With A Money-Back Guarantee Every Pair X-Ray Fitted — No Guess Work - i -*> - Great News . 1 * 1 ; far every motorist who breathes! Come in —see the real thing in automatic all-season heating and ventilation 1 H ere’s an amazing new system that combines fresh air . . . automatic warmth ... and sheer magic/ In winter—it keeps car air auto matically at the desired temperature . . . with a gentle blanket of warmth instead of the old-style blast of heat. It circulates warmth fore and aft, side 9 to side. Does away with window- fogging problems. Gives you a com plete change of air once a minute/ / On rainy days—it picks dry,.fresh • air right out of the mist . . . keeps interiors crisp and windows clear. During heat waves—it circulates a quiet flow of fresh air throughout the car . . . even when windows are closed and the car is standing still! See it and you’ll agree—it’s the suc cessor to all the car heating and venti lating systems you’ve ever known! So drop in soon at your nearest Packard showroom. See how the new Packard Eights let you "tune in” the best of every season! ASK THE MAN WHO OWNS ONE Piedmont “ a 1 Company South J road Street, Clinton, S. C. . / . \ . v / ’ 'V..-