The Clinton chronicle. (Clinton, S.C.) 1901-current, January 24, 1957, Image 4
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THE CLINTON CHRONICLE
Thorsday^ January 24, 1957
4'
(Ultntnn (Hljrnmrl?
Established 1900
July 4. 1889 — WELUAM WILSON HARRIS
June 13, 1955
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March 3, 1879 *
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&
CLINTON, S. C.. THURSDAY, JANUARY 24, 1957
J
Little Things
Have Their Appeal
All of us, we are sure, were impressed
with the pomp and pageantry that sur
rounded officialdom at the inauguration
ceremonies sent out to television Audiences
Monday from Washington.—— -
U was a wonderful thing for people all
over.the country to have, what amounted to
. \ w
a ringside seat at this quadrennial event
tliat saw |i President and Vice-President
inducted-as heads of this great nation, at-.
femIjR.1 T>y high officials of the courts, leg
ist ative and administrative*branches of the
government.
But we were also impressed Und enjoy
ed tremendously two little scenes as they,
iame on our television screen.
The first was when .President Eisen-
hower, at the luncheon immediately after
the inaugural ceremony, served his, own
plate from a table laden with food and
took it to the dining table himself.
We fully expected a half dozen aides to
come to his assistance at any moment. And
we were glad when they didn’t.
The other was a rib-tickling scene of a
little boy. all bundled up in warm clothes,
Vtting on the curb, who almost fell over as
-he. went to sleep. An alert television cam
eraman with a sense of humor is to be
thanked for holding his lense job that pic
ture. , .
forced, is basically sound and workable
and that it should dissolve promptly ‘the
cloud of doul|lt and uncertainty which has
disrupted U. S. cotton textile markets for
almost two years and which has threatened
the future of U. S. cotton in the American
market. We Believe the plan deserves a
firm trial. j -
"We have been assured that both the
1 irited States and Japanese governments
will keep careful records of performance.’
Mr. Grier and other industry leaders
expressed the hope that the plan would
lead to a permanent solution to-the serious
< ondithm Unit the unrestricted inflow of
imports had produced. Several mills were
forced to close, blaming Japanese imports
entirely for their difficulties. Others put
aside expansion plans and held the line to
ride out the economic storm.
Japanese workers are paid about one-
tenth tre amount paid American textile
employees, and Japanese mill men can buy
American cotton about 25 per cent below j
the price paid by U. S. mills.
The result.was that the Japanese allj
but t/ook over the American market for vel- j
veteens and ginghams, and largely disrupt
ed the American textile market.
MacDonald Awarded
Year's Research At
British Institutions
Charles B. MacDonald, former,
ly of Clinton, and presently Chief
of Military History, Department
of the Army, has been awarded
a fesearch and s study fellowship
by/the Secretary-of the Army.
Mr. MacDonald. 34. is a histor
ian and chief of the European
section in the office. He will be
relieved of his other duties for
one year to make a combined
theoretical and field study of the
interaction of terrain, technology,
tactical doctrine upon military
operations involving the historic
invasion routes of Western Eu
rope Research work will be
done at the Universities of Ox-
gord and Cambridge in England,
the’ British Museum, and other
such institutions. Thi:? will be
followed by field study in France
and Germany.
Milford Hill Dies
In Auto Accident
f
Milford Hill, 30, of Clinton Rt.
2, was killed shortly after mid
night Monday in an automobile
accident near Woodruff. He w
dead on arrival at a Woodrut
hospital, where he was taken af-
ejf the accident.
Seriously injured in the w’reck
was Harold Fortner. 25, of Wood
ruff. « He was taken to the Spar-,
tanburg General hospital suffer
ing with chest, head nad back
injuries.
The two men, along with four
others, were treateid at the Wood
ruff hospital and dismissed, were
returning from Spartanburg
when the 1949 Ford in Which they
were riding falied to make a
curve and ran down a setep em
bankment. The car overturned
several times.
Treated- at the Woodruff hos
pital were Jerry- L. Henson, 22,
owner of the car; Marion D.
* Mims, 31; his brother, Anthony
32 County Drivers
Lose Licenses i
m
During December
Thirty-two Laurens county.per
sons lost their drivers licenses
cjuring December, the State High
way Department has announced.
Various traffic law offenses v^re
listed as reasons for the revela
tions.
At the same time, the highway
department reported that for the
state as a whole 2,070 licenses
were withdrawn during Decem
ber.
From July 1 through Novembei
30, the department reported that
8,768 licenses were revoked.
AT COLUMBIA MEET
Mrs. Nene D. Workman, mem
ber of the Academy street school
faculty, attended the State Class
room Teachers committee meet
ing on Improvement and Instruc
tion in Columbia Saturday. The
meeting was held in the South
Carolina Education Association
building and teachers from each
county in the state were in at
tendance.
r
Calhoun Life Insurance Company
is pleased to announce the piffehase on Jan. .1, 1957
of the INDUSTRIAL INSURANCE BUSINESS
of the
SUPERIOR LIFE INSURANCE CO.
All Superior Life agents are now with
Calhoun Life. The same good service
on sales and claims will be rendered
as in the past.
Calhoun Life
INSURANCE COMPANY
‘'Inwr* with us • w* invusl with you"
HOME OFFICE • COIUMHA.S.C
Mr. MacDonald aflended high Mims, 19; and Tony Davenport,
T
The Skiefc Are Brighter
For the Textile Industry
Developments of tremendous import-
anc,e to the nation's textile industry took
shape this week with the signing *of an
agreement by United States and Japanese
officials to limit Japanese textile imports
into this counfry'to',2To"ihillion yards
rualh over the next five years.
\ |
The agreement is being heralded by ;
American cotton manufacturers as a rift in 1
the economic clouds that have hung heavily I
ever the industry for the past two years.
All of us here in this great Piedmont
region, and especially here in Clinton and
Laurens County, will greet the news with
npt.imism. if not elation, in that it serves to
lift, at least partially' the fears and doubts
that have shrouded textile areas for.quite
>ome time..
Industry leaders generally accepted the
control plan as workable, if properly en
forced. F. E. Grier, of Greenwood, Presi-
rVht of the American CottonManufactur-
< rs Institute, issued this Statement after-the
institute’s board of directors had conferred
with Secretary of Commerce Sinclair
Weeks and Assistant Secretary of Com-
nierce Hdroid < . McClellan at a meeting
m Charlotte. N. C.. January 16:
"The plan is .the result of a long series
of conferences betw.een representatives of
the two-governments, and involves an over
all limitatidn on shipments to the United
States of cotton fabrics, apparel and other
manufactured Wins. It provides further
lor a breakdown of the exports into'a num
ber of categories of fabrics and manufac
tured items, to avoid excessive concentra
tion on any particular product. Also, the
arrangement involves what we consider to
lie additional safeguards relating to a five-
year duration, continuing supervision and
definite precedures to deal with unanticL
1 ated concentrations.”
In a newspaper^published in Japan, The
Japan Times, editorial opinion* was ex
pressed which said the U. 3.-Japanese tex-
’ i 1 e agreement, while not satisfactory to
both sides, provided a "reasonably fair’.’
* ' * - 1 > _ * ■
v orking basis for trade between the two
countries.
The paper said the accord was a compro
mise, "but at least uncertainty will be abol-
i bed and exporters and importers will
-know where they stand.
"Although it will not please everybody
on both sides of the> Pacific,” the paper
safd, the agreement on Japanese cotton tex
tile imports into the U. S. "should provide
a reasonably fair working basis for trade.”
It expressed hope that Japan’s an
nouncement of voluntary controls on its
cotton textile exports will lead to improve
ment in this country’s economic relations
with the United States "as a whole.” *
Mr. Grier said: "It is our considered
opinion that the plan, if adequately en-
SENSING THE NEWS
By THURMAN SENSING
Executive Vice Presided!
Southern States Industrial Council
»•# •# ee •# «e »e «• »* *e •• ee »«*« «,ee ♦
»"#•'»«*• *"#*'• %'#*'• eeeeee e«*** #•#•»■♦** •♦»••••»•*#*
THE BETRAYAL OF THRIFT.
The federal Treasury is much concerned be
cause people are cashing in more U. S. savings
bonds than they are buying. In the last seven
months of 1956, they cashed in $1.00 million more
of these bonds than they bought. In the month of
December alone, they cashed in $29 million more
than they bought. ^
- Such a development should not surprise anyone
who knows how thrift has been betrayed by the
Government of this couhtry for the past quarter
century.' What is happening is that our chickens
are simply coming home to roost—chickens that
have been let out in great quantity’over this whole
period of time.
It usually takes a good while for people gen
erally to realize they are being duped by their
government. That would be especially true of the
people of the United States, because generally
speaking throughout our whole history until re
cent years the Government has played fair with
the people so far as protecting the value of the
dollar -is cbheerned. But once they do find out,
there'is nothing that will stop them from taking
flight from the dollar—and that, in effect is what
they are doing when they cash in their govern
ment bonds.
There is no question, of course, but that the
Government will always pay off in dollars the face
amount of the bond when it matures. The ques
tion is—what will the dollar be worth at that time’
Ever since our Government disregared all
moral principles in 1933 by going off the gold
standard and robbing the thrifty of forty per cent
of their savings, it has been Inevitable that \fe
should hav£ continuoqs inflation until the prin
ciples violated at the time were once again recog
nized and respected. That has not been done.
There- is still nothing tangible back of our dollar
except the Government’s promise to pay, and gov
ernments being what they are that is not enough,
even with our own government.
But all the days since 193-3. the. Government
has been urging the 1 people and appealing to the
people dn the basis of ^patriotism and imploring
them in every way they could think of to buy
Government bonds—the “safest investment on the
face of the earth."
We repeat again-r-the investment was .safe all
right so Tar as the number of dollars to be receiv-
<d at tyond maturity was concerned, but it was in
no inanni : safe so far as the value of these dollars
was concerned. The Government urged the people
to buy the bonds, knowing full well that the total
of dollars invested plus the total of dollars in in
terest received on the investment at- the time of
maturity would by no means be worth as much
as the dollars invested at the beginning.
Th»' people generally did not realize this how
ever, and over the years they have bought ap
proximately $50 billion of these bonds Now- they
are beginning to cash them in. and if there should
develop any sort of “rush” to cash in, the effects
or our economy would be most serious.
school in Dillon County, S. C
'and majored in history and Eng
lish at Presbyterian College, Clin
ton, receiving his bachelor of
arts degree.in 1942. He was an
infantry tinit commander during
World War II with the 98,th, 63rd,
and 2nd Divisions, and his book,
"Company Commander," publish
ed in 1947 by the Infantry Jour-
nal. Prei* give-: an account of his
experiences in this capacity. He
has done graduate study at the
University of Missouri, Columbia
University, and George Washing
ton University.
Mr. MacDonald lives at 9233
Hatton Point R6ad, Washington
22, D C., with his wife and year-
old daughter.
Chamber Committee
To Meet Monday With
National Manager
Legislattive and National Af
fairs Action Committee members
of the Chamber of Commerce and
Chamber Manager George Mas:
sey will meet with James E
Mooney, Jr., of Jacksonville!
Fla., Monday to discuss plans for
Clinton Chamber leaders’ par-
•ticipation in a Congressional Ac
tion Conference in Atlanta Feb
ruary 18.
Mr. Mooney, district manager
of the Chamber of Commerce of
the United States, Southeastern
Division; will confer with Com
mittee Chairman Robert Cox and
members Tench P. Owens and
Tom Addison on the above and
details of what the new National
legislative programs can mean to
Clinton. _ .
Following, a * recent visit to
Capitol Hill in Washington where
Mr. Mooney had the opportunity
of’conferring with congressmen
on legislative issues vital to busi
ness leaders, Mr. Mooney will be
in a position to bring first hand
information to the local group.
The Atlanta conference, sched
uled as a one-day affair, Feb. TO
at the "Henry Grady hotel, is one
of ten to be held throughout the
country when a team of National.
Chamber leaders will fly to cities
throughout the United States to
brief local business leaders-and
demonstrate the importance of
the interest of business leaders in
legislation under consideration by
the present Congress.
Among issues to be discussed
at the Atlanta confad are farm
legislation, foreign ^d, Taft-
Hartley labor act amendments,
Hoover -commission recommenda
tions, federal intervention in edu
cation, taxes, spending by Con
gressional appropriations. The
tearp of leaders touring the coun
try will be headed by National
Chamber President John S. ColC-
man.
16. All are from Woodruff, Rt.
2.
Mr. Hill was pinned under th<
car and a wrecker was driven
into the gully to lift the wreck
age.
Mothers March
Set for Thursday
The Mothers March for the
March of Dimes will be held next
Thursday evening from 7 30 until
8:30 Each person is asked to
leave his porch light burning and
the fire whistle will blow for the 1
“kick-off."
John
L.
Mimnaunh
Each year thousands of
persons are hurt in fidls a*
round the home. A few
hazards are stairways,
waxed floors, scatter rugs,
bathtubs, and step ladders.
Is it true that a few dollars
invested in a Personal Acci
dent Policy will cover all
such medical and hospital
bills?
Wm. J. Bailey
Ins. Agency
.♦I. 5. Bailey & Son Bankers Blar
Phone 1246
< , +
1956 again showed... . . ' .
llfie/v you save does make a difference....
4
...as the.
Savings and
#joan Way grow
Ynore popular j
if ? every vear
A record reward to the thrifty! More than $900,000,000 in earnings
went to the 18 million people who saved in 1956 at insured Savings and
Loan Associations. More i^ew savings ... making the total more than
$84 billion ... are now entrusted to the nation’s insured Savings and
Loan Associations. And each account is insured up to $10,000 by the
Federal Savings and Loan Insurance Corporation. More homes
financed. 1 out of every 3 home mortgages—70% more home loans than
any other type of lending institution—was provided last year by insured
Savings and Loan Associations, too.
Remember in 1957.. 1
ff/sr/r you save does make a difference..
• Tk.
1 Um f »«»*«■». tat.
LAURENS FEDERAL SAVINGS: fe.
LOAN ASSOCIATION
LAURENS, S. C.
WEST MAIN ST.
Pearce L. Waddell, Sr., 65, died
Wednesday morning, Jan. 16, at
Hays hospital after several
months of declining health.
He vtes a native of Spartanburg
county where he spent most of
his life.. He was- a son of the
late Luther and Mamie Meadows'
Waddell: He was a member of
Cedar Shoals Baptist church hear
Enoree.
He was twice married, first to
Mrs. Lillie McDaniel Waddell.
Surviving from this marriage are
two daughtersi Mrs. Marguerite
Lawson, of Enoree, and Mrs.
Thelma Pace,,of Startex; and one
son, Pearce L. Waddell, Jr., of
Institutional, commercial and banking invest- Enoree.
Pearce L Waddell,
Of Cross Anchor,
Dies at Local Hospital
cTTs were the first ot realize that their dollars
w*ould be safer elsewhere than in Government
bonds—efue perhaps to the fact that such organi
zations have the best investment brains at their
service—and they have been exchanging their
Government holding^ for equities at a rapid rate.
The s^me thing is now happening in the ease of
individuals.
Where does this leave the Treasury? In or
der to make Government bonds attractive to in
vestors, the Treasury is now having to pay a high
er interest rate than at any time in twenty-five
years. But even a higher interest rate is not go
ing to solve the problem if people decide that in
flation is going to continue and that investment
dollars plus interest dollars will still not be worth
St maturity what the investment dollars are worth
in the beginning. '
Moreover, a higher interest rate adds further
/to the troubles of the.Treasury. It is already pay
ing out $7.2 billion a year as interest on the na
tional debt .and continuous increase of this figure
will enventually become more than the taxpayers
can bear.
The solution: Return to a gold standard—and
economy in government that will permit payment
of the national debt.
His second marriage was to
Mrs. Lillie B. Lawson who sur
vives, along with six grandchil
dren; three brothers, Furman and
Floyd Waddell, both of Woodruff;
and Jerome Waddell, of Spartan
burg; two sisters, Mrs. Niles
Rhodes, of Woodruff; and Mrs.
Coy Roberson, of Enoree.
Funeral services were conduct
ed Thursday-at 3:Q0 p. m. at Ce
dar Shoals Baptist church by the
Rev. Robert Edwards and the
Rev. Robert’, Hughes. Burial was
in the church cemetery.
JUNIOR CHAMBER
TO MEET TONIGHT
The Clinton Junior Chamber
of Commerce will meet tonight
(Thursday) at the Presbyterian
college dining hall for a dinner
meeting at 7:30.
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