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J THE ( UNTOV . HRONK LE Thun«4a>. CViober IS, 19S9 Taxes And Jobs Tht- ('hamUr of Commerce of the United Mates has published a highly impt»rtant -tudy dealing with "Investment for Jobs." The work force, which totals TO.OOlU'un new. is expected to rise to 87,000,000 by 1070 —which means that more than a million new Price Of A Meal Concert Membership The following is reprinted from the South-' Honored For Events em California Forum: , In OHter Towns Here’s a"note on inflation. It s the t«er- Residents who have membership man story. When the Socialist controlled fOV- tickets for'the Clinton Community emment took over in Germany in 1919 it Concert may also use them for other took four and a fifth German marks to equal events in the areas which are listed jobs must l»e set up each year. Inasmuch as purchasing power of $1.00 in American below tools and equipment for a single industrial job now cost an average of about $15,000. an annual outlay of at least $15,000,000,000 must be forthcoming from investors to meet this need alone. Additional billions will be needed to finance new jobs for employes re leased by obsolescent industries or because of niproved efficiency. Whether this challenge can be met, ob viously. is a question of the greatest signifi cance. And that, as the Chamber points out, will depend on public policies that encourage investment in new or expanded business the well-spring of new jobs. There is, and has i been, a serious shortage of venture capital, ; for the simple reason that today’s high taxes leave little profit for the investor and sharp ly limit the sums he can afford to invest. The primary need is to encourage invest- i ment in common stocks. Money raised in this way provides industry with maximum free dom and flexibility. By contrast, fixed debt, such as is .represented by bonds, makes for rigidity. It must be paid whether the enter prise makes a profit or not, and management often has no choice save to pursue excessive- y conservative expansion policies. Th< American tax system is the main bar rier to more and better jobs for the future. money. German inflation began to run wild Anderson College auditorium. An in 1922-23. derson. 8:15 p. m. Oct. 19—Bernard Ixzo. baritone Nov 17—Beaux Arts Trio of New York April 26—Columbus Boys' Choir. Jan 29—The Medleys. Municipal 1 Auditorium, Greenvil|e, Corner E. North and Church streets. Ulinlon In 7-0 Loss To Lancaster Friday IV CltatMi High School Red IVetto will fowrwey over to I’oieo Friday night for (heir seventh game of the season • • •> LANCASTER GAME Lancaster’s Blue Hurricane splashed to a second period touch- "Then it took 160 thousand marks to equal our dollar’s purchasing power. By November, 1923, the mark was valued at 4 billion 200 million to the dollar. "A newspaper in Berlin sold for 200 million marks per copy. "There is an interesting story of a young 8:i5p. m German being left an inheritance of 650,000 Sept. 25-^Jerome Hines, marks in 1920. That was worth approximate ly 65 thousand dollars at tljie time. The pro vision was that he wbuld receive it when he was age 21. and he became 21 in the middle of 1923. "With his entire inheritance he was then able, to buy only one meal. "Think what will happen to pensions, in surance and savings with that kind of infla tion.’’ Oct. 24—Opera "Rigoletto.” Jan. 13—Philadelphia Orchestra, Thomas Brockman, soloist. March 1—^Chicago Ballet. Greenwood High School auditori um, Greenwood, 8:00 p. m. Nov. 9—Eugene Conley, tenor. Jan. 28—The Medleys. Babson Discusses Unemployment March 8—Atlanta Symphony. Greer Senior High School audito rium, Greer, 8:15 p. m. Dec. 4—The Chanticleers Quartet. March 21—Joseph Battista. Jan. ll—Archer and Giles. Loco I Entries Win Blue Ribbon, Ptoces ot Piedmont Flower Show Four entries by members of Clin ton garden clubs were displayed in the annual flower show on Monday in connection with the Piedmont In terstate Fair at Spartanburg. The theme of the show was "Mad ame Butterfly,” and arrangements depicted a character in the opera In . _ i . . ., . . ,. a particular situation. TV Garden- down here Saturday night, and held ettes . ent .. B<)nze .. pre p ared by off scrappy Clinton for a soggy 7-0 Mrs Marvin Gau , t Mrs R L victory, .... Plaxico, Jr., Mrs. Sarnie Pinson, It was the sixth straight win for the Hurricane. Clinton’s .record now reads 2-3-1. Quarterback Jimmy Sistare hit Brooks Goldsmith with a 20-yard scoring pass for the lone touchdown. George Griffith kicked the point. Clinton made several drives, but couldn’t push a score across on the wet field. The rain had delayed the game a day from its original Friday night. K i n a r d Littleton and Ricfy Rhame paced the Red Devil offense, while Goldsmith and Mill Mosley topped Lancaster’s effort. Lancaster 0 7 0 0—7 Clinton o 0 0 0—0 Mrs Frank J terfly's Mother, But Sooth Atlantic Council of Industrial was awarded a red Editor* at Its annual convention in Asheville. N. C. October t and I. Mrs Marshall Brown * interpret* This group is composed of eighty tion of the deceit of U. Pinkerton eight editors in South CaroUna, received a yellow ribbon. North Carolina, and Virginia. Honorable mention went to Mrs The Joanna magazine, now in its Gary Holcombe for her * Madame tenth year of publication, is edited Butterfly—Brighter Than A Star In under the direction of James P. the Heavens. Joanna Magazine • Is Most Outstanding The Joanna Way, monthly publi cation of Joanna Cotton Mills Com pany, won the_ "Most Outstanding Mrs. Milford Smith and Mrs. John T. Adair, won a blue ribbon. An individual arrangement by I Magazine” award given by the Sloan, director of industrial rela tions. In recognition of the award, Mb-. Sloan received a desk pen set appropriately engraved. OFFICE SUPPLIES ni CHRONICLE PUB. CO. PHONE 74 hahomauv DDCTnKJ DAV fULL s/2( APV[tT:sit> Dial. I UiM DMT 72 * 8* inchcs 4 E3 Bkttketi Plus Chenite Bed Spread free AVVtAJ Sit 72 * 80 IHCHlS IF YOU DOMT READ THE CHRONICLE YOU DONT GET THE NEWS Phone 74 A Symbol Of Integrity Herbert Hoover is a working man. He worked hi? way through college. He worked hi> way to success as a mining engineer, and ne worked hi? way to the top in public life. A? a worker who knew the value of a dol- lar, ami the penalty for waste, he sought to instil] business principles of efficiency and economy in government when he was Pres- | dent of the U. S. ■Such a policy at that time was not popular with politicians who sold to the people the idea that enough federal spending would pave the way to prosperity when the going got tough. That bought votes, and the idea of a tair return tor value received, went down the river. The idea of spending our way to pros perity with easy government money was launched. Mr. Hoover who abhored waste and ineffi ciency in business as well as in government, returned to private life, but not to retire. He continued to work for the national welfare n countless ways. At the risk of being un popular he ha> sought to safeguard his coun try from a spendthrift's fate. As he recently passed his 85th birthday, Mr. Hoover >tands revered by a nation as a symbol of integrity, and an inspiration for a generation whose job it will be to save this heritage from tne ravages of debt and infla- *i< r. and destruction from within. The Worst Of Precedents Th» ♦\tremely controversial bill authoriz- nj. the Ttnm»see Valley Authority to issue revenue U-nds to finance expansion of its power system has become law. President Ei- -enh« wer did insist on additional amend ments which give the Executive Branch miuh mvr< ntrnj over this financing than •he bill originally contemplated. Mr. Ki.-enhower. one assumes, will hold a tight pin on TVA. But there will be other Presub it- in Jhe future, and a precedent has i*en e-*abli«hed which is a very real threat *<• the -xistence of regulated, taxpaying pri- .ate enterprise—and which opens the door ■ wider t i monolithic, dictatorial, socialist mo nop'lie-. For 'xamp.e. it has been pointed out that TVA t.ouhi expand to take over a 4.600- -quare-milt area now served by a private -ysten ;n Tennessee and Southwest Virginia —an area in which the system has an invest ment < f over $100,000,000. And, if TVA is ever permitted to do that, it will be with the aid of economic advantages which are denied prhate enterprise. A spokesman for the pri vate system in question states that taxes and •he co.-t of capital represent 4o per cent of the total costs in producing and.selling elec tric power. By amtrast, jhe equivalent items <*f tax and capital costs represent at most only 23 f*r cent for TVA. That simply means that the taxpayers, directly or indirectly, make up the difference. Stockholm, Sweden. October 15—Last night I sat in the lounge of the Grand Hotel with representatives of prominent American corporations who were here in the beautiful city of Stockholm to spend Che week end. Their chief subject of discussion was what will happen to U. S. labor as a result of increasing im ports from Europe. EUROPEAN INDUSTRY BOOMING Every one of these men is leaving tremendous or ders for machine parts which will be sent to the U. S. and assembled into consumer products now being manufactured in the United States. They classify all the way from bicycles to motorboats, with automo biles, erf course, leading the way. Surely new autos > made in the U. S. will not stop the flow of new cars coming from Eu rope. Today I saw a new Dauphine car selling in Paris for $835 (with U. S. models priced from about $950-$1100) These are Renault I built). Not only are the European Com mon Market and Outer Seven coun- I tries competing with the United I States, but they are competing with w»f*r w. BaSmb each other to give our American manufacturers both higher quality and lower prices. These European manufacturers pay eighty cents to one dollar per hour for skilled male employ ees and from sixty cents to seventy-five cents per hour for female employees, who apparently can do the work just as well. Executives who would secure an nual salaries of $25,000 per year in the U. S. receive only about $5,000 here in Europe They, moreover, are very able men. MORE MODERN MACHINERY BEING USED IN EUROPE It is not only a difference of wages, but also of * spirit and ambition of the workers and of the models of the machinery used. Recently. I had dinner in Halmstad. Sweden, at the lovely home of the Swedish manufacturer of razor blades for the Schick-Ever- sharp Injector razor, which 1 personally use. He is making and wrapping these blades on new high-speed machines not yet introduced in the U. S. Incidentally, |* I am told that the ‘Gripsholm," the newest passenger -hip now sailing the Atlantic Ocean, was constructed in Italy, furnished in France, all with money raised in Sweden. WHAT ABOUT LABOR UNIONS? Many in the U. S. think that Europe has no labor unions This is not true All the countries have labor unions, and. I am told, this ever, applies to Russia. The fact also is that the labor leaders who operate these unions are intelligent and reasonable They are sometimes govern ment-appointee These unions are subject to the same lews and taxes to which the man agement associations are subject The mam difference between the European unions and those in the U. S. is that labor leaders and union members in the U. S. appear to have very little in terest in either their employers or the consumers who are to use their products In Europe these labor lead ers and members are anxious for their employers to make fair profits and for the consumers to enjoy their products. This difference is the main reason why U ] S manufacturers ar^ buying so many parts in Eu rope to put into products to sell in the U. S . and are even making the entire products to sell in Europe and various countries abroed An Important ANNOUNCEMENT From WLBG The PC-Tampa football game Sat- urday, Oct. 24th, will be broadcast play-by-play directly from Tampa through public address loud speak ers at Johnson Field and in Leroy Springs Gym. We will start our broadcast at 7::30 P. M. Kickoff time is 8 P. M. Sponsored By CLINTON COTTON MILLS LYDIA COTTON MILLS JOANN A COTTON MILLS WHAT ABOUT T ARIFFS? All these U. S. manufacturers who are visiting Eu rope—at least those whom I meet—are griping against our State Department in Washington They claim that our State Department is even rude to them, telling them that if they cannot compete with Europe in man ufacturing costs they had better "sell out” and "re tire from business.” Of course, what our manufactur ers want is higher tariffs. Out State Department tells our U. S manufacturers that such higher tariffs would eventually result in World War III. Large merchandisers such as Sears, Roebuck & ; Co., are making big profits importing finished house hold products from all European countries and also from Japan They wart tariffs kept low. They praise our State Department for their present stand. There fore, my conclusion is that present tariff relations will continue and will result in much more unemploy ment in the U. S. This, however, should teach us all a good lesson—both wage workers and employers; it may be a "blessing in disguise.” CLINTON, S. C.. THURSDAY, OCTOBER 15, 1M9 ulljr (SUnton (Etprmtirlr July 4, 18M — WILLIAM WILSON HARRIS - June U, 1965 PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY Subscription Rate (Payable in Advance) Out-of-County One Year $3 < Six Months $2.96 One Year $4 M Second Class Postage Paid at Clinton, S. C. The Chronicle seeks the cooperation si its subscribers and readers — the publisher will at all times appreciate wise suggestions and kindly advice. The Chronicle will publish letters of general interest when they are not of a defamatory nature. Anonymous communications will not be noticed This paper is not responsible lor the views or opiatons of Mi BILL HOGAN. Play-By-Play LARRY GAR. Color OR MAIL THIS COUPON HAMILTON’S Blue Nile Diamonds Hillerest Watches a Mourn toad mm (ho 4 IsReiss 7f ■ RS hwh umuoub cjwvosr m I »a*-fe ■■■*«, ptaa Me Mi fcefn»JWfrRpmad ip— I I btoud -t. .Np wto p^u IW H. I wM pup g! JB u Wldh OM0 i Prices impor' reduced on «//Mercury models! Popular Monterey* now *136 MI lower. Now you can own a new Mercury for a very few cents a day more than a car with a low-price name. I S»lr.»n< prat <m . M>■ i.. —r I St.i wS.., HtS .. KIM. r4 4mht pf«p«w»i. mm4 IraUtaf rhMfa. You’ll be glad you bought a Mercury every time . .. Why pay a medium-range price for a car with a low-price name? For this year. Mercury is in a new lower-price range. You'll be glad you didn’t settle for 1cm ... . . . every time you look at its Sleek- Line styling. Every line is clean, trim. All excess metal has been pared away, shaped smooth. There’s no unnecessary bulk. Just elegant simplicity. . . . every time you feel its exclusive Road-Tuned ride. Mercury’s Road-Tuned wheels (see left) take bounce out of bumpe. This ability of each wheel to "roll with the punch” is one of the most important ride advances in years . . . another reason whv vou’ll be glad you bought Mercury... ... every time someone sits in the middle. There’s real comfort for 6 people, not ju?t 4. Full head room, hip room, foot room for all. . . . every time you see other new cars. You’ll discoxer that Mercury has the freshest styling—no warmed-over ’59 design as in many so-called I960 cars. You'll find that Mercury has the newest features—de luxe interiors on even the lowest-priced model, at no extra cost. And you'll appreciate the extra quality—the kind that cuts repair hills. For Mercury is the hesl- built car in America today. Don’t miss the first showing. wiscim wvutow Set it now at Quality Headquarters— your Mercury Dealer a Don’t bwy any car uadi you’ve driven the Road-Toned i960 llerenry. 'w ON DISPLAY TODAY BALDWIN MOTOR CO. . AD RT 1'LINTON, &, C