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/ THE CHRONICLE Strives Tc Se A Clean Newspaper, Complete Newsy and Reliable (ttltnfom (Ehromrle If You Don't Read THE CHRONICLE You Don't Get the News Volume LII Clinton, S. C., Thursday, August 16, 1951 Number 34 A Regular Chronicle Feature TOO MUCH MONEY FOR SCHOOL BOYS AND GIRLS HELD 'BAD’ Bobson Suggests Cor porations Screen High School Students. By ROGER BABSON Babson Park, Mass., Aug. 10.— I have recently received from a de voted father the copy of a letter which he wrote his son qn gradu ation. In it he says: Lincolns vs Land - “Mother and I are proud of the record you have made in school and college, especially by your con tinued faith in God and constant association with the Church and the things it stands for. Now I have been thinking of what to give you as a graduation present. Mother wants me to give "you a fine Lin coln convertible car; but I just don’t feel it is right to do so. “Hence, instead of giving you the car, I am enclosing a deed to forty acres of land worth three times the cost of the car. Land and labor are the basis of all wealth, especially in this day of in flation. Land is more desirable than money. Land will keep getting much less deserving go to college with an automobile and a big spending allowance. Large corporations which send their employment managers to the colleges to hire the "best 'gradu ates” would do far better to go to the high schools and select their students by high school records and then help finance these stu dents through college. These cor porations are now doing their pick ing four years late! Importance of Summer Work Of one thing I am certain—name ly, that how high school students use their summers is of great im- young person will do better in a job which he or she finds without family help. But idleness is dan gerous to all concerned. Next to giving young people good opportunities to work, per haps the best way to help them is to say to the high school principal: “I want to help some worthy stu dent who is anxious to go to col lege but who must help his family and hence thinks he can’t do so Let me add that I, myself, would like to so help two or three such students who would immediately write me. Whai About Trust funds? I believe in trust funds for chil dren and grandchildren; but they should serve as insurance in case of sicknes, old-age or hard luck. They should not result in making it un necessary for the beneficiary to work, save and be a useful citizen. The love of work is a blessing. In stead of arranging for the young Appropriations Will Exceed $500 A Person Senator Critical Of 'Waste' Plan portance. I have about come to the conclusion that I will employ only|P erson to get all the income when those who have worked every sum- 26 years of age—it may be better mer during high school and college. Those who have earned at least to make him co-trustee with the bank but to move the 26 years up half their college tuition and board to years. Trustees, however, are to be preferred. The best young should have power to use part of people to hire are those who have accumulated income to help in earned their entire way through C ® S€ °f need. college, with the help of scholar- Congress they probably will need $4s500,000,000 for that. Congress will have to appropriate it • this year unless the international pic-| . tore brightens and current mili- Washington, Aug. 12.—A State tary funds can be reshuffled to Department proposal to send Iran- take care of the Korean costs. i j an farmers some self-propelled On the basis of total appropria- harvesting combines costing 14.300 tions of $70,000,000,000, not allow- each drew criticism today from ing for additional military funds. Senator Fulbright, (D-Ark.) the per capita appropriations for. Fulbright told a reporter he the year will be slightly over $503.-; thinks this is just one example of computed on a population of 154,- h 0 \v, as he put it. the economic and 000,000. : technical aid program outlined by If you have a wife and two chil- j the State Department for some $.2000 as your family’s theoretical areas of the world is missing fire, dren, that amounts to more than The Arkansas senator has been share, but the tax structure is listed in the past as a strong sup- such that the average family with porter of the department's econom- two children won’t pay that much, ic and cultural programs. The slack is taken up by pay- “Certainly we ought to help ments made by people in the high these people, but we ought to go income brackets and by corpora-’about it in a simple way in the tions. beginning." Fulbright said. "Those Not all the money appropriated people don't know how- to run this year will be spent this year, combines and if we ship them to Some of it is earmarked for fu- i ran , they’ll just be stored in some ture years. For example, the cost, field to rust." of a battleship is spread over sev- 1 ,. Let . s at the a n d eral years although the money may s b ow them simple improvemeniti * Washington, Aug. 12.—Congres sional appropriations this year are almost certain to reach a peace time high of more than $500 for each man, woman and child in the, United States. With all the regular money bills already passed by the House a to-' tal of approximately $70,500,000,000 has been voted for the fiscal year that ends next June 30. The amount is likely to be boost ed by the Senate before the bills reach President Truman. In addition, an appropriation of $7,000,000,000 or more will be need-| ed later this year to finance for-j eign military and economic aid programs, boosting to more than $77,500,000,000 the foreseeable 1951 appropriations. Not included in that total is the cost of the Korean war since June • 30. Military spokesmen have told 1 SUBSCRIBE TO THE CHRONICLf be appropriated in one year. over the methods they now are us ing instead of trying to make a grandstand show of helping them " ships and summer work. Horn* Training Important A person can do too much for his children or grandchildren. Unless a young person has learned to love work, something is wrong. It may have been careless school or home training, or giving the boy or girl too much money. Certainly more Babson Apologia as Note by Mr. Babson: I apologize for a mistake made in my release of July 6 on taxation. I should have said the revenue act of 1948 allows a marital deduction of 50% of the adjusted gross estate provided that much or more goes to the surviving spouse. This 50% would include life insurance which, although it passes by* contract rather than by will, is now viewed by the internal revenue bureau as being part of the decedent’s estate for estate tax high school young people are harm- m w more valuable if | ed by having too much money, *** #r you give it half rather than too little money, the attention you would give a car. It is easier for a parent with If you take care of your land, son,, money to say “yes” rather than, v ^ ^ it will take care of you. I cannot, refuse; but isn’t this pure selfish- P^P 0865 w hen the insured has paid object to your having a Lincoln, as ness on the part of the parent or **** premiums, owns the policies I have two with which want you to do likewise. # Present Unfair Conditions I ing it. Certainly this whole educa- “'** “I* f ,u ' wvu During the summer I have talked tional and home training problem tlon has tem P° ranl y b* 611 remosed with several high school principals, is topsy-turvy. 1 ^ They telj me that some of their Helping the Worthy COMMERCIAL PRINTING highest and hardest working stu-^ The best way to help young peo- This completely equipped combi- dents have not the money to go to pie is to give them opportunities to nation Newspaper-Commercial Print- college. They can get partial schol- work and earn money. If they stick Ing plant can serve yon better. Oni arships, but unless they can live at. to the job — or themselves find a coal la to give ear customers the kind home, they just can’t swing it. On better one — then they will come of service they want—to giro Clinton the other hand, students who are 1 out okay. I sometimes think a a BETTER NEWSPAPER, . your having a Lincoln, as ness on the part of the parent or poilc,es vo; but I earned the money grandparent? Sometimes I think . th T lich I bought mine and I, that families lacking money are H 1 /.TriuH 1 rnent K 0ned t .. more fortunate than W possess- 1 ^r rt " Th- u ^ understand that the $40,000 limita- FREE I WESTINGHOUSE “KOLD KEEPER” ! BAGS While They Last :: s $1.00 SPECIALS CHAIR BOTTOMS RUBBER STOVE MATS HARMONICAS PLASTIC KITCHEN CURTAINS WINDOW SHADES $10.00 SPECIALS METAL IRONING BOARDS CHILDREN’S PLAY PENS ELECTRIC HEATERS (Nesco Circulator) 1! •: * • 1. ONLY—TOMUNSON DOWN-FILLED CHAIR, regular price $149.95. Dollar Day Price ‘100 ,00 1 ONLY—CLUB CHAIR, foam rubber seat and back, regular price $89.95, Dollar Day Price *60 .00 2 ONLY—FOAM RUBBER PLATFORM ROCKERS, beige SfilV 00 floral tapestry, with tilt locks. Regular price $89.95, Dollar Day.... 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