Historical Newspapers of South Carolina

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1 I —X \ / Thursday, August 28, 1952 THE CLINTON CHRONICLE Page Five FINAL SETTLEMENT Take notice that on the 2nd day | of September, 1952, I will render a final account of my acts and do ings as Executor of the estate of Dr. D. J. Brimm in the office of the Judge of Probate of Laurens County, at 10 o’clock a.m., and on the same day will apply for a final discharge from my trust as Execu tor. Any person indebted to said es tate is notified and rfequired to make payment on or before that date; and all persons having claims against said estate will present them on or before said date, duly proven, or be forever barred. HENRY M. BRIMM, % Probate Court, Laurens, S. C. August 2, 1952. 28-4cw CITATION FOR LETTERS OF ADMINISTRATION The State of South Carolina, County of Laurens. By J. H. Wasson, Probate Judge: Whereas, Tan M. Ray made suit to me to grant him Letters of Adminis tration of the estate and effects of Jim Pitts Ray. These are, therefore, to cite and admonish all and singular the Kin dred and Creditors of the said Jim Pitts Ray, deceased, that they be and appear before me, in the Court of fh-obate, to be held at Laurens Court House, Laurens, S. C., on September 4, next, after publication hereof, at 10 o’clock in the forenoon*.-to-show cause, if any they have, why the said Administration should not be grant ed. Given under my hand this 12th day of August, A. D., 1952. J. HEWLETTE WASSON, 21-2c - J. P. L. C. Rivers Hits Taxes On Profits In Club Talk 28-Cent Dollar By 1965 Foreseen By B. M. Edwards j state of South Carolina. ‘That means another $14,000,- 000,000 of additional basis for in flation, and if we open the gates _ , . , m , of another inflation no one can The American people afe faced how far the dollar sink with the tragic prospect of a dol- u . s just uke m hi h octane & K W0 ? h u° nly ab u° Ut 28 CentS by , gasoline on a bonfire.” Charleston, August 30 taxes on profits are stifling free en terprise in the South and are aimed at destruction of all free enter- prize and the establishment of so cialism in America, the Exchange club of Charleston was told yester day. Meeting at the Francis Marion hotel, the club heard G. L. Buist 1965, if the purchasing power of eaerai tke d 0 n ar continues to decline at Millions of Americans today trying desperately to get along t .“We can prevent further loss in the value of the dollar by putting our government on a pay-as-we- go basis.” _ Th budget can be bal anced but it can only be done by cuting programs as well as elimi nating waste. “Strict governmnetal economy, pay-as-you-go financing, curbs on a too-rapid expansion of* private credit and a continuing increase m production by American industry will enable us to hold the line against further inflation.” the dollar continues to delcine ns it has in the past 13 years. B. M. | savings, pension and insurance Edwards of Columbia, president, dollars worth little more than half of South Carolina National Bank, of their 1939 value, Mr. Edwards said in a statement issued yester- pointed out. day. “As bad as it has been to see our dollar decline to 47 cents in , . • i value since 1939, we may in a I comparatively ,ew years .ook back ness executive, assert the ultimate . . , . -•> „ , . . . ’ .. to today s 53-cent dollar as a end of such taxation is destruction! , . , , ^ Hv!m ent0 of the good old davs. me- of private enterprise follow’d by; j • • * »• The principal cause of inflation r" liZTi&SL;. •S^riJZ and the loss of the dollar's purchas- to divert the minds of the people from governmental mistakes. Deplores Tax Set-Up ing power has been the deficit spending policy of the federal gov- “Unfortunate as the present situ ation is," he said, “it will become far worse if the public does not in sist thf.t excessive, wasteful spend ing be stopped and the federal budget be made to balance with tax revenues. “If the federal government con tinues to pump more and more money into the economy througn deficit spending and cheap money “The Nazi government followed, debt . from less than $41,000,000,000 a similar pattern. It allowed the in 1939 to some $260,000,000,000 to- German businessmen to remain as ! day q{ which South Carolina’s operators of their businesses butj share is $3,600,000,000, assuming siphoned off profits to the extent t h a t thi s debt burden were spread that businessmen no longer were able to expand to meet the grow ing needs of the nation. Then, Ger many had to go to war to take the minds of the people off Nazi "'government, he told the club. , do not cu , di back in Mr. Rivers dtplored the current. lfhe wfth reve „ U e S , we" may have .tay ICI-MP which he saicL—ta. .pCrly of more than $T4\000,000,1 nalizing the whole south. “Today, Southern banks gener ernment, which has piled up public easy credit policies, we can have a 28-cent dollar by 1965 and per haps a 15-cent dollar by 1977.” Mr. Edwards observed that a $100 monthly pension or annuity of 1939 now provides only about $53 worth of purchasing power for food, clothing and other neces sary expenses, and that the same ratio applies of course, to other forms of savings, such as insur ance policies., bank accounts, or bonds. evenly over the nation. “Under the presnt administra tion's policy, thre is no end in sight to repeated deficits, mounting pub lic debt and continued inflation. However. Mr. Edwards said, I 000 in 1953 for the people of the ■ j s ncd ^ 00 j a | e s ^ 0 p inflation. PRESCRIPTION FOR SPRING FEVER > Dr. W. W. Adams VETERINARIAN 614 Musgrove Street Clinton, S. C. Phones: Office 958 Residence 991-W ally fall in the highest tax brackets turn tbe i r thoughts toward a com- because they are comparatively mon enemy. new banks and are progressing; .. Let u$ not forget the plight ! rapidly, I happen to be a director j which the South today ig finding ; of a South Carolina bank which ^ ; it se j{ faced with—that a lack ofi bAng taxed at the rate of 86 cents^^ capital—simply "because-or a{ SCHOOL DAYS AHEAD ...«nd plenty of getting ready to do I Certainly no time for puny appetite to deprive your children of the ; -proper noum+rr ment they need j*'" to keep them hard at school work, hard at r :W ■ play, and regu lar in attendance. Read how this Haleyville, Ala., mother thanks Scalf’s Indian River Medicine for helping her son get through a wonderful school year . . . Mrs. Will Burns writes, "My son, Neil, was vary poorly. His appe tite wes week, he looked pele, v at nervous and had lost weight. Alter starting on Scalf’s Indian giver Medicine, his appetite perk ed right up, his color improved, he gained weight, and seamed like a new boy. £fe has* lost only two days’ school since starting bcalf’s over a year ago.” Summer is the time Nature in tended for "building up", and good appetite is the way nature intended for furnishing little bodies with energy-giving vita mins. Get your children reedy for a vigorous school year by giving them a course of Scalf’s Indian River Medicine, favorite family appetizer for almost a half a cen tury. Guaranteed to satisfy on very first bottle or money refund ed. Ask for it by. name at any drug store. Do it today—you’ll be glad you did ! iK; CUNTON MILLS STORE ^Jliinb it Over! Hr. In our slogan contest, it would be well for each contestant to keep in mind the types of insur ance the Capital Life writes— ;UHa. Health, Hospital, and Acci- ideal. Often a slogan is a play on a nd*, or their meanings, such as some of the examples given in this space last week. We have three words in our name itself— Capital. Life, Health—that will lend themselves easily to word play, and that contain the poten tials of excellent slogans. For instance, one or two ideas hat occur to us are: “It’s a capi- al idea to own a Capital policy;’’ 'It’s a capital policy to buy Capi tal policies;” "Capital Life puts the Sl’RE in insurance;" “We can : t guarantee life, but we do in sure if.” '' v ur life and health ?.-e vo ir r. • uiieeless posses sions— -ui L. ie and Health poli cies pio’efi them.” etc., etc But we are sure vou can write better slogans than we Remember, just send a postal card with your entry, your name and address, together with the name of your newspaper, address ed to: Contest Editor. Capital Life and Health Insurance Co., 1845 Assembly St.. Columbia More next week. PRESIDENT CAPITAL Ure AND HEALTH ' INSURANCE COMPANY COLUMBIA. S. C. ‘•••.‘at —•«> out of each dollar profit. Recently j hjgh.tamng federal Bureaucracy, the bank asked the federal govern- and our area one w h ere legitimate j ment for permission to increase „ Let ug work tQ make this state i its capital stock. ^’ as denit -‘“; Dus jnesses may come and be as-- and the bank was told it cou j sured SO und tax structures. As do so only if it cut back on its pay-; , ong as tbe f edera i government is j ments to stockholders. When y° u r e determined to tax us for. the pur- allowed to keep only 14 cents ou l;p 0se 0 f destroying private enter-! of a dollar you can t do much ex- p r j se 0U j. progress will be slowed; panding and you certainly ' von ^:down and the only answer will be find new investors. j ano ther war,” he told the club. Able To Come Back “During the period from 1876 1 until 1900 Charleston and the south were destitute. My family, which was probably better off than many,; was hard put to to make ends meet.! The South didn’t- have a financially ■ capable friend in the country. "Yet, we came back. With no help from the outside and although j our wnole economy and way of| life Were completely destroyed, we havn hppn ahle _tn_.^Qirui-back ~r “In less than 100 years we have become the fastest growing area in the United States. We will con tinue to grow and I hope we won’t grow simply at the expense of other parts of the country. If our state government is good and hon est, if our tax structure is sound we will grow. Profit Margin "However, there are only two sources of money for establishment of new plants and expansion of old ons. Those are earnings retained by businesses and stocks and bonds issue dto finance enterprises. Are we going to be able to continue if the federal government continues its tax schemes?” he asked. “Currently many New York banjes, because they were in goed shape during the period when South Carolina was recovering from the War Between the States and because they have large re- srves built up. during thah time, ' are only taxed about 52 cents on the profit dollar,” Mr. Rivers said. “If you were looking for bank stock to buy, naturally you’d buy the bank with the largest margin of prfoit. In this way the federal government is stifling Southern ; banks and through this method I stifling free enterprise in the South. ' There is outside capital available, but it isn’t as good for an area as local capital. “Whenever the U- S. govern ment says, in effect, “we refuse to allow you to grow to meet the needs of your area,” it has said something which should make ev ery citizen aware of a grave dan ger existing in the land. “The purpose of such high tax ation on profits is to destroy growth and enterprise, to make the citi zen depend more and more on the centralized government. It means 1 ultimately the end of private enter prise,” he said. “Just take any business,” Mr. Rivers said, “it is almost impos sible to finance legitimately for growth and expansion of a normal aggressively un, business. A Chi nese wall is being built around thp South because we are the fast- st growing section of the country. Our friends in the North, who happen piomentarily to be in a better tax area, will go down with us,” he predicted. War Unites He quoted Carl Marx as saying, let me have the tax structure I want and I can create socialism in any country. “War is the only answer when internal resentment builds up. As pressures develop on the govern ment from groups within the coun try, more ond more spending be comes necessary. Then, when the government is about to find itself unable to answer these internal up heavals it goes to war. “War,” he stated, “unites a peo ple as no other force can. It caus es people to forget their grievances against the government and to Goodyear Tires and Tubes BATTERIES AND ACCESSORIES McMillan Service Station Sinclair Prodneta Pkom N*. 1 . Dreaming of a vacation you'd like to take . .. a business of your own ... or perhaps a cozy cottage for your family? „. Here!*, how to turn -your daydreams into reality: open an insured savings account with us right away—then add to it often! You'll find a savings account is a “wonder drug’’ in times of emergency, too. 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