The Clinton chronicle. (Clinton, S.C.) 1901-current, April 26, 1951, Image 7
THE CLINTON CHRONICLE
Thursday, April 26, 1951
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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
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• 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
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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.
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