Historical Newspapers of South Carolina

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V ‘ i f \ 4 4 / I Page Eight THE CLINTON CHRONICLE Thursday, March 16, 1950 Babson’s Letter , man who invented compound inter- est" _ Babion Park, Fla., March 9,—My column this week will probably re sult only in a waste of good news print; but I will at least feel better by telling readers how I think. Next to the im portance of charac ter and health, the habit of thrift is of primary importance for business suc cess. Statistics will show’ that usually, Boter W. Babsoa men save , little every week from their school days on, will someday have an in dependent business of their own; while those who spend all they get, are always obliged to work for some one else. The wife’s part in this is also very important. An old saying is that “a woman can waste more at the spigot than a man can pour into the bung hole.” I have graduated thou sands of young men into business positions. Their success or failure has largely been determined by their spending habits, mostly determined by the wife. Compound interest is offered on the same terms to every U. S. fam ily. This gives a return on $1200 at 6 per cent of about 20 cents a day. But listen w'hat compound interest means when we w’aste money. Un necessary spending of $5.00 per week means throwing away the an nual income on $10,000 of U. S. Gov ernment Bonds at today’s rate of 2 1-2 per cent. The interest which most readers, directly or indirectly, are paying could make them wealthy if saved and properly invested dur- Senate Bogged Down On State's Big Appropriation Bill ing their lifetime. Going Into Debt I believe that an enemy of thrift i? “Old Man Liquor.” Not only do I believe that a large proportion i.f the money spent thereon is wast ed, but that liquor is a cause of much crime and poverty. To my mind a most foolish part of the li quor problem is the way many young married people spend money on “so cial drinking.” Readers may argue it does l^no harm,” but I 4 surely believe it us ually !' a waste of money with which the tamily could buy something more useful. Many such families are already in debt. This in my opin ion is crazy financing for these fam- Patriotism Demands Thrift Religion, hard work, thrift and education made America the world’s greatest Ration. As we neglect any one of these our country is in dan ger. Unfortunately, we are now ne glecting thrift. Millions of families are going into debt for things they really don’t need, while our Govern ment is going into debt, .now in peacetime, at the fearful rate of S500.000.00 every hour of every day. Debt and credit have their use fulness; but both are now being ov erstrained. President Truman gave a rosiy outlook as to what our "in* come” ‘would be in 1954; but he did not tell us how much each family then would owe. The fiscal policy of most families and politicians is now cockeyed. We all should wake up to the dangers of debt, both person al and national or Joe Stalin may get us. Special to The Chronicle. Columbia, March 15—The Senate finance committee’s version of the state appropriations bill for 1950-51 was the topic of much debate in the senate last week, where the senators wc.c- raUier evenly divided between i-iv.c jacking the finance committee niaii, Senator Edgar Brown, in h.s defense of the committee’s ver sion, wnieh comes within state re venues, and those urging the need o. uuviitional appropriations as ne- ce^saiy lor the functioning of state otiiutions. . .ie senate turned down the pro- ^o*ji to send the bill back to the unau.e committee, a<nd heard a atuiement by Senator Grant of Ches ter county that he would propose next week that the General Assem- ~,.y adjourn for 30 days while a spe cial committee made up of five~sen-- ators, five representatives and live appointees of the governor make a study of the state's finances and tax structures and report back to the leg islature. ponents pointed out that, beeause of i the dropping off of G. I. fundi, with- jout the increase the University i would have $700,000 less than last year for operating funds. By a 16 to 17 vote the Senate refused to kill the amendment proposing the in crease, with Senator Wilson of Lau rens .county voting with the minor ity. charged with driving under the in fluence of liquor. Four were charg ed with reckless driving, and the charges against the other four driv ers were not specified. SUBSCRIBE TO THE CHRONICLE “The Paper Everybody Reads” I! Fifteen Liquor Drivers Lose Licenses In County :: Savings Accounts 3%—DIVIDEND—3% % :: Special to the Chronicle. Columbia, March 15. — Fifteen driving privileges, were withdrawn in Laurens county last month, ac cording to a report of H. E. Quarles Jr., director of the motor vehicle di vision of the S. C. State Highway Department. All of the withdrawals were in the nature of suspensions, and all of the drivers were charged with driving under the influence of liquor. All but two of the drivers Laurens ft We invite savings accounts from the people of Clinton and vicinity. You will like our friendly and efficient ser- \ ice, and you will receive your dividend promptly each January 1st and July 1st. Any amount — from $l»up — opens an account. f: * Each account is Insured up to $5000 by the Federal Savings and Loan Insurance Corporation. Two people may have up to $15,000 fully insured. Call 74 FOR OFFICE SUPPLIES CHRONICLE PUBUSHING CO. The on.y proposed amendment to the bill which reached a vote dur ing the week was the amendment by Senator Warren of Hampton unty that the appropriation for the University of South Carolina ‘be in- eased from $1,250,000 to $1,690,- 000. Opponents of the increase ar gued that it would lead the way to other additions which would throw the bill out of balance, while pro- were male. Four of the county drivers were in the 17. to 30 age group, eight were between 30 and 40, and three were in tne tony and above age group. In South Carolina, 496 driving li censes were withdrawn, 492 of which were suspended, three were revoked, and one was-cancelled. Of the driv es invO.ved, only eleven were fe- •1 I Accounts by mail promptly acknowledged. Chartered and Supervised by the United States Government it it Laurens Federal Savings & Loan Association male. One of the drivers was -be tween 14 and 17 years of age/213 we.e in the 17 to 30 age group, 172 a ere between 30 and 40, and 110 were forty years of age or older, .ccording to the report. ‘ All but eight of the drivers were ft it ft ft if Telephone 22271 LAURENS’ LARGEST SAVINGS INSTITUTION * >« 104 West Main Street Laurens, S. C. ikes. Enemy Sto: 2 is the installment hab.t The exponents of this habit Haim “it is forcing people to save.” Yc; it far better to develop s£$- control and .-we money Janst and then buy what ybu want 'and get the 10 per cent cash discount,; Thus, "aTy YTvTv to young people with afnbiiion is to keep away both from xxial drinking and installment buy ing It is easy to become a slave to either; but it is hard later tj net free from either. Salesmen want y_..i to buy on the installment plan because it is so highly profitable to them. Although your indebtedness may be reduced by one-twelfth each month, you usually pay interest at tfie full rate for the full time. Thus, an innocent-looking 6 per cent jumps to about an 11 per cent per annum basis, on the average loan outstand ing. How Money Can Multiply On the other hand, the money which you save will double every 12 years if properly invested. Ten dollars saved weekly at 6 per cent (which most good stocks now pay) can become $23,746 in 20 years. Once I asked Thomas A. . Edison, Who is the world’s greatest in- entor?" He replied at.once, “The My/in? loss i5 covered-but Im Out of busihejs ter (3 or S weYrs He forgot business interruption Don’t forget: a fire not only burns you out—it also puts you out of business for a long while. Failure to carry business interruption insurance may mean the difference between solvency and bankruptcy. The cost of such insurance is low — much less than the cost of fire insurance. Be safe. Don’t be half safe. Let us protect you with mod ern, stream-lined insurance • against all protectable losses in your business. CLINTON REALTY & INSURANCE CO. B. Hubert Boyd, Agent c: WHISPERS IT WORKS /4/V£> ft L/KB AA/IBB/0& QUIET 1 OG-H.p. V-8. It’s the same kind of engine now used in America’s costliest cars . . . yet Ford offers you this engine for hundreds less than you’d pay for most "sixes.” And Ford’s V-8 is "hushed"—to deliver its 100 horsepower so smoothly you can hardly hear it—even at sixty. NEW "HUSHED” RIDE. You ride in "sound- conditioned” silence—for Ford's 13-way-stronger "Lifeguard" Body is insulated to keep noise out. You drive in quality-car luxury, too ... on sparkling new upholstery fabrics over Ford’s new non-sag front seats. THE ONE FINE CAR IN THE LOW-PRICE FIELD. Nowhere on earth can you find so many quality-car features for so little money! For only the '50 Ford in its field offers you the comfort end safety of Ford’s low, level "Mid Ship" ' Ride—cushioned by "Hydra-Coil" and "Para-Flex" Springs ... 35% easier-acting King- Size Brakes . . . and "Finger-Tip" Steering. ’50 FORD at your FORD DEALER’S i ■ , . . Baldwin Motor Company North Broad St. Clinton, S. C. Telephone 86 Famed • ' t r ' - » . . Academy Selects Ford as "Fashion Car” Again This Year! S'