The Clinton chronicle. (Clinton, S.C.) 1901-current, October 22, 1964, Image 2
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Tqi CUNTON CHRONICLE
* »■ P ■■ f W—I.— ... ■ ■■ —
CMbUb, & C, Tknlv, October 22,1H4
Youths Need
Pupftti the assault on povarty by the
Aj^lriatraHon, some of the programs sug-
gteted may not be effective. "v*
For instance, make-work jobs in the
Nfeproftt area are ho substitute for the
ehaBsaige of getting and holding a job on
ons'e own merits. They are/more likely to
soeoorage dependency on others than the
aslf-rdiance and self-dieciirfine which en>
| a young person to find his own place
world.
iportant as education and training are
in making an individual a more attractive
employee, they do not make jobs—which
are what is needed. The jobs that are now
unfilled require people with different apti
tudes and different training from what is
contemlated in the programs for youths.
In the final analysis, youths need jobs
in industry, not temporary government-
generated jobs. And to employ youths, in
dustry needs greater profit opportunities
and fewer restrictive practices of govern
ment that dampen the business climate.
violepce to toe Constitution, or that have
failed in their purpose, or that impost on
the pople unwarranted financial burden.
I will not attempt to discover whether leg
islation is needed before I have first dttotf-
mined whether it is constitutionally pennis-
sable. And if I should be later attacked
for neglecting my constituents’ ’interests”
I shall reply that I was informed that
their main interest is liberty and that in
that cause I am doing the very best I can.
WHICH WH4. IT BE, SON?
X'
Brookville, Pa., American: ‘The aver
age American would explode in righteous
indignation if someone suddenly told him
he didn’t have the right to vote. The sad
fact is, however, that far too many who
have the privilege are letting K go to waste.
Estimates are that unless somebody shakes
them out of their apathy and indifference,
some 40 million eligibles will neglect to cast
ballots in November.
Qoae To The
Welfare Slate
U. S. News & World Report has publish
ed a chart that every taxpayer should
study. It shows the incredible growth of
federal subsidies to toe states and local
governments.
In 1964 this spending totaled 12.7 bil
lion. The figure for the current year is
$10.2 billion. Next year, ad^ording to of
ficial estimates, it wiH reach $10.6 button.
A very large part of this goes for a
lengthy list of aid and welfare projects,
along with such innovations as federally
financed shim clearance and housing devel
opments. And, staggering as the dollar
figures are, they can’t tell the worst part
of the story. That part lies in toe steady
ooaion of state and local rights, obligations
and responsibilities. At the rate we’re
going, it won’t be long until non-federal
governments will be little more than mean
ingless names.
We are doeer to a Welfare State than
toe majority of people realise. Unless the
trend is checked somehow, the ultimate ef
fect on the American character, as well as
the American pocketbook, will be disas
trous.
National Bible Week
We live in all-too-caaual world—a world
in which almost everything, including relig
ion, seems to be largely taken for granted.
Far too few of us give a little time each
day to reading the Bible—to seek and to
find in it help toward the problems and
confusions of our age.
That is why National Bible We*, ob
served October 19-26, now takes on greater
meaning than ever before. It Is sponsored
by the Laymen’s National Committee, Inc.,
which ia an All Faitha organization. This
year the chosen theme is a termendously
timely one: ’The Bible: God’s Word—
Man’s Hope—In Unity.” How much that
can mean to us all!
It is anticipated that many millions of
people will observe the We* and make it
the outstanding and far-reaching success it
deserves to be. But that is not enough.
Every week should be a Bible week, every
day a Bible day.
The greater our material abundance, the
more faithfully we should build and sustain
• our spiritual values.
A Good Platform
The following declaration could well be
included in the platform of any candidate
for President of the United States—Repub
lican or Democratic.
—- -The fact that it was uttered by Barry-
Goldwater is beside the point:
T have little interest in streamlining
or making it more efficient for I mean to
i its Mm. I do not undertake to pro
welfare, for I propose to extend free-
My aim It not to past laws, but to
Hmm. It ia net to inaugurate now
tat to cancel old ones that do
B&bson Discusses
Wage-Price Inflation
By ROGEB W. BABSON
Babson Park, Mass., October 22—When the
late President Kennedy announced that 3.2%
would be the annual ruideline beyond which labor
wage hikes should not go, I told my clients that
the “regulation” would be ignored. Sure enough,
neither management nor the unions have honored
that barrier against wage-price inflation, even
though President Johnson repeated the call for
a 3.2% ceiling in his economic report last Janu
ary.
REASON POE THE YARDSTICK
Fear of further wagt-price uptwists first
prompted the government to ask for votamtary
restraints. It was estimated that product!viy—
output per ir.an-bour—has been going up 3.3% a
year. Hence, it would be permissible, and rea
sonable, for unions to ask for a parallel raise in
pay-fringe benefits. This could be granted with
out bringing enough pressure on labor costs so
that employers would have to lift product prices.
Thus it was hoped to avoid wage-price inflation
while still allowing reasonable gains in worker
incomes.
Although neither the unions nor management
had much to say when the productivity yardstick
was announced, it was soon evident that neither
side intended to comply with the government’s
request. Most of the important labor contracts
signed since that time have gone beyond the
guideline in their wage-fringe concessions. Thus
far, however, many of the companies Involved
have been able to absorb the extra expenditures
without sharply boosting prices. But advances
are in the air, especially in coal, clothing and
transport.
AUTO PACTS MEAN
HIGHER PRICE CEILINGS
Just how ready the unions and management
are to overlook the productivity guideline has
been shown in autos. Industry, the government,
and the public were brought up short when
Chrysler started the ball rolling by giving the
United Auto Workers a package—including pen
sions, raises, and working benefits—that upped
costs an estimated 4.7% a year during the agree
ment’s three-year span.
True, this avoided a strike at Chrysler and
Ford just before the national elections—but not
at the more tough-minded General Motors. It
proved once again that the guideline means
nothing to either employer or union forces. And
the scope of the annual boost in labor costs
means that cost-push Inflation in the auto Indus
try is on the march. Anything more will mean a
severe squeeze on profits. While the wealthy
auto makers might be able to absorb some of the
costs—and perhaps sop up some more by in
stalling “extras” in their cars—many smaller
concerns that will be pushed to keep up with the
wage-fringe gains will simply have to raise
prices.
HOW FAR WILL THE PRICE RISE GOT
Wnether the new lift in labor costs comes
from new and/or more liberal pensions, wags
hikes or fringe benefits, the results will be the
same. Upward pressure on price ceilings will
definitely increase. There have already
quiet boosts at the manufacturers’ level,
these will be translated into higher retail prices
over the period ahead.
“How long wiH prices and wages continue to
mount, how far wffl they go?” The answer as
to what is almost certainly going to happen is
easier than the matter of when. Here is how I
see it : Higher labor costs must be offset—at least
to a certain degree—by higher prices. As al
ways, higher prices srffl mean new demands for
raises. So the spiral will continue to rise until. . .
UNTIL WHAT? - “ ~ _ .
Sooner or later wage-price increases will be
come so unrealistic that there will be an infla-
tinnagy blow-off. Things win be tough when that
happens and the long business climb could be
stopped short. I am optimistic enough to be
lieve, however, that this inevitable correction
may be aU to the good. The blow-off wffl bring
us back to our senees, and the heyday wffl ho
over for those who think that Inflation
Teacher Association rummage
sale. The week precoding the
sale, pupils of Florida Street
School will solicit rummage un
der the direction of Mrs. J. B.
Hart.
1# Tears Age:
The tax levy for 1M4-36 was
set at S3 mills by dty council
at its meeting Monday night.
This is the sarnie rate that has
been in effect for the past sev
eral years.
* • •
PHatnn merchants, entering
into the spirit of PC homecom
ing, will decorate their show win
dows and store fronts for the
occasion which is scheduled this
Friday.
Directors of the local Mer
chants Association, under the
leadership of President J. C.
Thomas, met last Monday and
made plans to give their fall co
operation to the coflege la its
efforts to welcome alumni re
turning to the canvas for tho
homecoming game with David
son College Friday night on
Walter Johneoa field.
OFFICE SUPPLIES
CHRONICLE PUR. CO.
Stories
Behind
Words
fcj
Wilttam 8. PenfleM
Rostrum
The word rostrum came straight from Latin and
originally meant a beak.
A war ship in Roman tfanea had a pointed prow
that resembled a beak, or rostrum as the Romans
called it
There was a platform for speakers in the Forum,
the place where public business was conducted in
Rome. This platform was decorated with toe prows of
captured Carthaginian ships, so the Romans called the
platform “rostra”—the place of the ships’ prows.
Since rostra is a plural noun the English adpoted
the singular form rostrum, to denote a platform for
public speakers.
From Thd Chronicle Filts
Looking Backward
Let the files of The Clinton
Chronicle help you recall past
civic and social events involv
ing people of Clinton and Lau
rens County.
«• Tears Age:
The contract for the erection of
Clinton’s new grammar school
building was awarded Tuesday
by the board of trustees to con
tractor C. M. Guest, of Ander
son, over a number of competi
tive bidders. The contract price
Is $S3.000.
• 0 0
The initial meeting of the year
of the Laurens County Teachers
Association will be held next
Saturday morning in Laurens.
The county superintendent of
education, Miss Kate Wofford,
has sent out communication rel
ative to the meeting and the
work of the organization for the
year.
• • e
President Calvin Coolidge
threw out the first ball Saturday
that started the world series
games between Washington, the
American League champions,
and the New York Giants, Na
tional League winners,
ta Tears Agu:
For exceptionally meritorious
conduct in the performance of
outstanding services on the Fifth
Army front in Italy, Lieutenant
Colonel Ansel B. Godfrey of this
city, recently was presented the
Legion of Merit, third highest
army decoration.
• • •
Clinton will play host on Oc
tober 17 to law enforcement of
ficers from communities in the
vicinity, attending a conference
to be held at the Armory on
South Broad Street, sposteorsd
by the Federal Bureau of In
vestigation.
• • »
The weekend of October 19-11
has been set for the Parent-
BmmRi
TODAY-SATURDAY
mar GOULET
uotWILUMB
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Shows 3, 6, 7 and 9
Satnrday Start 1:00 P. M,
MON.-TUES^ OCT. 26*27
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Shows 3, 5, 7 and 9
STARTS WED. OCT. 28
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REPORT OF CONDITION
Bank of Clinton
of Clinton, in the State of South Carolina, at the close of business
October I, 1M4
ASSETS
Cash, balances with other banks, and cash items in
process of collection $
United States Government obligations,
direct and guaranteed
Obligations of States and political subdivisions
Other bonds, notes and debentures (includibg $99,-
988.75 securities of Federal agencies and corpora
tions not guaranteed by U. 8.)
806*7*
961,096.14
516,814.34
Loans and discounts
Bank premises owned $34,161.96, furniture
and fixtures $13*9.62
Other assets ;
99*9.78
1*6,119.06
48,071*
3,004.30
TOTAL ASSETS $8*4,484.10
LIABILITIES
Demand deposits of individuals, partnerships,
and corporations $1*1*4*
Time and savings deposits of individuals, partner
ships and corporations
Deposits of United States Government
(including poetal savings)
886,601.61
Deposits of States and political subdivisions
Certified and officers’ checks, etc.
TOTAL DEPOSITS
(a) Total demand deposits
$3*3,802.66
(b) Total time and savings deposits _ $ 666,606.64
TOTAL LIABILITIES
CAPITAL ACCOUNTS
Capital: (a) Common stock, total par
value $100,000.00
Surplus
Undivided profits
Reserves (and retirement account for preferred
capital) -
$ 109*0.00 > »
. 100,0**
_ H6*7*
TOTAL CAPITAL ACCOUNTS
TOTAL LIABILITIES AND CAPITAL ACCOUNTS $3*4,49110
MEMORANDA
Assets pledged or assigned to secure liabilities and
for other purposes (including notes and bills redis
counted and securities sold with agreement to re
purchase $ 530*9*
I, Harry McSween, Cashier of the above-aMM# |*j| * *6
emnly swear that this report of coRdMaB it true aBf Rttnat ta
the beet of my knowledge and beBat.
HARRY T.
Correct—Attest: J. C. Thomas, R. P. Earner, T. R.
J. L. Young Director!.
State of South Carolina, County of Laurent, ss:
Sworn to and subscribed before me fids 16th day of Oct,J|64,
and I hereby certify that I am not an officer or director of tUs
bank.
S. MARGARET HOLLAND, Notary Public
My commission expires at the wffl of the
SEE ME BEFORE YOU RENEW!
10-20-5 Auto Liability Aa Law Aa $27.00 Per Year
Win. S. Hatton
P. O. Bax 911
s. c.
IS3-3SSC
SECURITY
INSURANCE
Lite • Health • Auta • Fko
[ J.C. THOMAS
BRONZED BABY SHOE
CHRISTMAS SALE
upward forever without running awey.
From then on—given common oenae and a
rebirth of religious conviction—we *0*4 bs
in a position to build both am
ness lives upon much firmer
CLINTON, 8. C., THURSDAY, OCTOBER * 1964
utyr (dlintmt (ftynrairir
** 4,1649 - WILLIAM MMBON KARRIS -
13. 19*
PUBUSHED EtERY THURSDAY BY TBB dHIONlCLl PtJBUMING COMPANY
Rale <p*BMe In Advance)
OM tem $4*. Six
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Member: South Carolina Press Association, National Editorial Association
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