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THE CLINTON CHRONICLE Thursday, April 26, 1951 / Paure StTfii A WELL-EQUIPPED KITCHEN Here is shown the well-equipped kitchen, modern in every detail, roomy and plenty of lirht BABSON FAVORS ARMAMENT PRODUCTION AS PERMANENT STABILIZER FOR BUSINESS Thinks Earnings Be Sta bilized and Fair Divi- dnds Assured. Babson Park, Mass., April 24 —I continue to believe in the Cycle theory. This means we will have scares. But none of us may live peace scares, war scares and labor to see another 1929-32. The Armament Industry war has been a haphazard affair We have frantical- 1 y prepared for war when we saw i t coming. After the war was over, we demob i 1 i z e d and our war prep- arations were stopped Hence, each general i o n saw a sudden radi-| cal change from producing military supplies. Then they later saw an abrupt change back again to pence goods. It may be that this “on- again off-again' process is over. The war industries business may become stable and constant like' most other businesses Let me il lustrate: We could have a constant flow of new tanka, jeeps, airplanes, bombs, etc., each year, whether or not war is expected. Tanks, for instance, have a five year "life.’* due to obsolescence. Then each year all the tanks over five years old would be ground up for scrap. slant loads—hauling the scrap back to Pittsburgh, and—after it is made into steel—hauling the steel again to Detroit—and so ort forever! I am fearful what labor leaders will do when the next depression comes. Putting the armament busi ness on a permanent basis, however could postpone a severe labor con flict for many years. The program would keep money flowing into the stores to buy consumer goods and thus help both merchandising and manufacturing stocks and the rails. In fact, such a new industry' could prevent a stock market collapse for many years. Earnings could be stabilized and fair dividends as sured. ernment wants to put a “ceiling”’ Labor’s real gripe is that the gov- on wages, but not on profits. If in-, vestors had a “floor” on profits, the same as union labor and the farmers have a floor on wages, a ceiling on profits would be feasible. But to do so would mean socialism, A far better system would be to in sist on the compulsory reconversion of all obsolete machinery into raw materials, according to a prear ranged depreciation charge. Law of Action. Reaction Such a long era of prosperity would not upset Sir Isaac Newton’s Law of Action and Reaction, upon which the famous Babsonchart is based. This great law" simply means that for an area of abnormal prosperity, there must be a cor- respbnding area of abnormal de pression. If all obsolete machin ery when fully depreciated is ‘ground up" for reconversion, there need be neither abnormal booms nor abnormal panics—except acci dent or speculation. This is one reason why I advise careers in Ac counting. Rivers Says Truman Should Have Heard MacArthur On 'TV' Washington, April 21—If Presi dent Truman is having trouble with his television set. Representa tive L. Mndel Rivers, for one, is willing to chip in to buy him a new one. ‘‘Television is a wonderful me dium for getting an eyeful of what’s going on, and I certainly think the President needs an eye ful” Rivers said. “But I under stand that when General Douglas MacArthur was addressing con gress, and millions of other Ameri- Americans already know—that thtf cans were hearing his inspiring worst mistake he ever made, and words, Mr. Truman didn’t see him.” he's made plenty, was when he Rivers had reference to the fired MacArthur.” White House announcement that President Truman, in conference T-4-I. FOR ATHLETE’S FOOT with Secretary of State Dean Ache- BECAUSE— son, didn’t turn on the big televis- it has rreater PENETRATING ion set in his office to see and hear Power. With 90% undiluted alcohol MacArthur’s address to congress, base, it carries the active medication “It looks like that even w’ith that OEEPI.Y, to kill the germ on contact, most wonderful of modern inven- Get happy relief IN ONE HOUR or tions, general MacArthur couldn’t y°»*r 40c back at any drug store. To- get through to the President,” Riv- day at McGee’s Drug Store. ^And that s a pity, (■'txtt ryRw^ nrnT ■to tj^ , because if he’d just turned his set CHmDREN s BIBLES—Regular and on, Harry Truman would have dpper binding. Bibles also for ad- learned what millions of otheralts. Chronicle Pub. Co. Phone 74. “DIE FOR ALL YOU ARE WORTH” Hugh L. Eichelberger NEW YORK LIFE MAN 29 Years Experience PROFESSIONAL INSURANCE INFORMATION FURNISHED FREE Member The National Association of Life Underwriters or else sold to foreign countries in exchange for much needed raw ma terials. This would always give us> the same as we now have improved a supply of the latest modern tanks automobiles, washing machines and radios, each year. Effect Upon Business This program could be a great stabilizer for business, employment and investments. It would provide an incentive to colleges to train personnel to run war industries. It would assure permanent jobs for those now in such war industries The entire present picture would change. Instead of the war indus try being wastefully prosperious at one time, and then dead at other times it would always be normally prosperous Each year we would use ,new blue prints and old war materials to make up new stocks of tanks, guns, jeeps, planes, bombs, etc. Then, at the end of five years, we would break these up for scrap; after which new ones would be built according to new models. Af ter five more years these new mod els would become obsolete and be reconverted into ra wmaterials and so no indefinitely. Thu probable program is some thing for every investor to con sider Instead of the steel indus try being a fast or famine busi ness. this program could make it fairly stable. It could stabilize rail-j road stocks, which otherwise will have a big slump when peace comes again. Under this Cycle Theory a railroad, operating between Detroit and Pittsburgh, would have coo WE ARE PROUD OF Mgsu} Mu&tyuwe SO IS OUR ENTIRE COMMUNITY This is a fine addition to our city, providing for our guests the very best in hotel accommodations. J. C. Thomas, jjewel&i “It’s Time That Counts’ 1 •• I * l I I I I i I I • That is the comment of all who make this fine pharmacy their head quarters for drugs and sundries. We hope you, too, will "join the crowd.” Come in often. We’re always glad to see you. And do make it a special point to bring us your Doaor’s next prescription for prompt, precise com pounding! We’ll thank you sincerely! McGee's Dm Store West Mnin St. — Phong No. I Hearty Congratulations! Glinton an d Hotel Mary Mus rove i: !i •:? :: • • I :: • • fi :: • - ii • • * • :: :: I I :: :: :: :: We are pleased to have had a part in the con struction of this modern and beautiful fireproof hotel. It was our privilege to be contractors for the • • *, PLUMBING, HEATING and ELECTRICAL WORK Felicitations and best wishes on the great occa sion of your.... Formal Opening Friday, April 27 —j— . Johnson Company Phone 4 Plumbing - Heating - Electrical Contractors Supplies Clinton, S. C. RMmsnnaminwMMMniMnn