The Clinton chronicle. (Clinton, S.C.) 1901-current, February 24, 1966, Image 2
THE CLINTON CHRONICLE
Clinton, S. C„ Thursday, February 24, 1966
Your Dollar’s Value
“How Real la Inflation In The U. S.?”
That is the title of an article in the
January 24 iasue of U. S. News & World
Report. It is accompanied by a full-page
chart which make* informative, andjvoeful,
reading.
Assume that the 1956 dollar was worth
J00 cents. On that baais, your present food
dollar has lost 15 cents in value; your rent
dollar 13 cents; your home-building dollar
20 cents; your college-cost dollar 24 cents;
your auto repair dollar 20 cents. So it
goes, down the list of the things we use
and buy. .
All in all, the magazine says, your cost
of living dollar has lost 16 cents in its buy
ing power over a mere 10-year period. It
doesn’t take an expert in higher mathemat
ics to figure out what will happen if that
trend continues—or, worse, accelerates.
And accelerate it undoubtedly will if
the creation of huge deficits continues. The
big domestic question now is whether or
wot Congress will take steps to protect what
is left of your dollar’s value, by really ap
plying a heavy blue pencil to non-essential
spending.
isfied. It has been announced that it will
soon accept bids on a big nuclear power sta
tion. i;
This news brought an apt comment
from The Wall Street Journal: **. . . it is
about time Congress took a new look at its
creature . . . Sooner or later somebody
ought to ask just how big this operation,
subsidized by all the* people, reasonably
ought to be allowed to get. And before
TVA adds nuclear power to its empire
would be a good time for Congress to de
termine whether or not its overblown ope
rations have . . . become fissionable.”
TVA represents state socialism, pure
and simple. It provides nothing that pub
licly-related. taxpaying, investor-owned en
terprise could not provide. It represents
a heavy and continuing drain on public
funds. And, unless Congress flashes the
red Igiht; it is going to get bigger and
more expensive.
made any definite
the American wjy
Babson’s Point of
View On Inflation
By ROGER W. BABSON
Babson Park, Mass.. February 24—Inflation is
in the air Nearly everybody is talking about
it. Only a handful of people know anything
about it. And. unfortunately, those who claim
to know are now busily disagreeing with each
'other as to how senous it is and whether some
thing should be done about it or not.
WHAT IT IS
Old-school economists say that inflation is a
climb in the money supplies of a nation greater
than the increases in that country’s output of
goods and services. More or less humorously,
it has been said that inflation is too much money
chasing too few goods around.
Such definitions are undoubtedly correct . . .
as far as they go. But what Mr. and Mrs. Con
sumer know is that inflation means rising costs
for everything they have to buy. Furthermore,
they have learned in previous periods of rapidly
rising prices that the cost of food, clothing, rents,
services, etc., has a nasty habit of advancing
at a faster pace than their income. For all of
us then, inflation is simply mounting prices and
costs. The more rapid the spiral, the greater
the hurt.
WHY IS IT BAD
Frustrating though inflation may be for the
wage or salary earner, there is always hope that
a raise may come along. Of course, the pay in
crease will never catch up with the zoom in
prices and costs. But it does give hope of a
catch-up some day.
In inflation, however ... for the elderly, the
pensioner, the thrifty saver of small means . . .
there is not even hope. This group has “had
it, ! as’ far as being able to maintain the pur
chasing power of their savings or their income
from pensions is concerned. Think of it—in the
past two decades alone, the purchasing power
of our dollar has been slashed by two-fifths!
Those who retired at the end of World War II
(and there are many still living) have had their
visions of a comfortable existence as senior citi
zens rudely jarred. Some are in dire straits.
But today’s crop of older people is small con-
One proper test of any proposed l^bor. trasted with the big bulge in over-€5’ers who
leges and universities use the State in 1962 and was in charge haven’t
WMSC qualifying test as a fac- °t the offense. Before that he plans.”
tor in the slection pf students was head coach and athletic A native of Ma'con, Ga.,
who are to receive financial aid.-“d^^tor at Presbyterian College Jones graduated from the Uni-
t t 0 . in South Carolina. versity of North ■ Carolina in
The terms of Jones’ contract, i® 48 an d later received his
Tommy Johnson, a sentor at wen? t ^ He will master’s degree there. After
CHS who recently dislocated name four ZsZZnt coaches, sraduation he coached high
hts hip during spring football two of whom wiU a , so teach ln schoo i football in qeorgia be-
practice, at Presbyterian Col- ^ phvsical edu ., al i, n depart . fore going to Presbyterian,
lege, is a patient at Self Me- rtpnt ^ p
morial Hospital in Greenwood:
Tommy will have to wear a
rtient.
Jones said he hasn’t decided
IF YOU DON’T READ
THE CHRONICLE
xuiiuii; WIU imve u» wear a ... . , , . . l ,,, t THK i;imur*IV'
C» S . 'Of •bout six weeks One !!, have , YOU DON’T GET THE NEWS
Therts why they'll all fall down
One Down-
More To Go
Once again Section 14(b) of the Taft-
Hartley Act has been successfully defended
in the U. S. Senate against the .power-play
of the union bosses and their political hand
maidens. But even as we hail this one de
fensive victory, we find it necessary to
sound a warning that there is still other
“labor” legislation in the Congressional
mill which, if passed, would do great dam
age to a working-man’s freedom and his
job security.
One such item, of immediate concern,
is the Sickles Bill (HR100027), otherwise
known as the Secondary Boycott or “com
mon suits picketing" bill. Speaking of com
pulsory unionism — passage of this bill
would permit the powerful AFL-CIO Build
ing Trades. Union to enforce “closed shop”
conditions on all major construction proj
ects throughout the country. One union
could stop all work on a project involving
several contractors, even though other em
ployers and their workmen had nothing to
do with the dispute. In other words, by
picketing the entire construction site a
handful of workers—or the heads of their
union—could prevent hundreds of others
from continuing work, even though these
Others would have no chance to vote on
whether or not a strike should be called.
Stories
Behind
Words
by .
' William S. Penfield
Solon
Solon was the great legislator of Athens and was
one of the seven wise men of Greece. He was born
about 640 B. C. In early manhood he distinguished
himself as a soldier and poet, and, through extensive
travel and study, he became acquainted with the old
er cultures of the Mideast.
When dissension among the political parties
threatened Athens with revolution, Solon was made
archon and invested with supreme power. He drew
up a new constitution, softening many of the old, op
pressive laws.
His name, written with a small “s,” became a
common word used in referring to any legislator or
wise man.
of his visitors remarked that
Tommy seems to be worried
about missing i Shealy’s
English! Everyone at CHS is
looking forward to seeing Tom
my home soon.
Frank Jones Named
Coach At Richmond
Richmond, Va.—The Univer
sity of Richmond appointed
Frank Jones, assistant football
coach at Mississippi State, as
its new head coach Tuesday,
ending weeks of speculation
and rumors that they would get
the job.
Jones replaces Ed Merrcik,
who resigned after 15 years to
become assistant athletic di
rector at Richmond.
Richmond’s Spiders lost all
10 of their games last season,
extending their losing streak to
14 straight.
Jones, 41, joined Mississippi
have a long list and every
body’s been calling me, but I
PHONE 833-0541
Your
'MaABWRi
Program
Today, Feb. 24 - Wed., March 2
Walt Disneys
most .
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comedy
* that
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Features: 3:30, 5:46, 8:00
Saturday: 1:20, 3:30, 5:46, 8:00
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Highlights
From Clinton High
By PATSY SIMMONS
legislation, one needs only to ask: Will it
serve the legitimate interests of working
men in general, or only the personal am
bitions of union bosses? Certainly the
Sickles Bill doesn’t pass that test. It would
actually enable the bosses of one union to
keep members of another union from their
jobs.
No union official needs that kind of
power to serve the legitimate interests of
his own union's membership. And the
recent rash of tieups in major industries
and cities should be evidence enough that
many of the present crop of union leaders
don’t use wisely the powers they already
have.
will be coming along in the next two decades.
By permitting inflation to snowball now, we are
assuring this increasing segment of our popula
tion that they will be afflicted with years of mis
ery in the 1970’s and 1960’s.
THE BREAKOUT
1965 may prove a landmark in the inflation
b TVA Fissionable?
Human memory being short, it’s prob
able that great numbers of people have
little or no recollection of the history of the
Tennessee Valley Authority.
its original prime mission, as authorized
by Congress about 30 years ago, was to
harness the Tennessee River in the inter
ests of navigation and flood control. It
was also Authorized to sell the by-product
of these developments, which was hydro
electric power. But this was strictly a sec
ondary matter—or so it was believed in
those innocent days.
Now TVA not only has a huge hydro
electric complex—subsidized by all the tax
payers of the nation—it has a mammoth
system of steaxh plants, something that
Congress never envisaged when the Au
thority was created. Even so, it isn’t sat-
ALL
SILVER REFLATING
REDUCED 20%
DURING MARCH ONLY
This Saturday all Clinton ship Corporation, an independ-
High juniors will have a chance ent non-profit organization es-
to take ,_tbe National Merit tablished in 1955.
Scholarship Aests. The tests will The program combines a na-
be given in the morning in the tionwide search for talented
school cafeteria. youth with a number of ser-
^ The National Merit Scholar- vices designed to increase fi-
that now'seriousl'y^ threatens*.***For it was in”that f^p program is conducted by nancial assistance for able stu-
year that wholesale prices broke out of the long ^ National Ment Scholar- dents. Furthermore, many col-
rut they had been marking from 1958 through
1964. In those seven years wholesale prices va
ried only a tiny bit; but last year they soared
3%. And the pace appeared to be accelerating
as the year closed and the new one opened.
Not to be outdone, the plodding advance in
consumer prices — which had been climbing
something over 1% annually—suddenly spurted,
racking up a gain in 1965 of 2%. Worse still,
our studies suggest that the hardship of this
2% hike was much greater than the figures in
dicate; for meat, the big item in the housewife’s
food budget, rose over 13%, with beef prices
alone soaring double that figure.
BEHIND THE BULGE
The behind-the-scenes spade work for today’s
price spurts has been long in the making. The
great moving force has been mushrooming cred-
it—at historic rates and quantities. Then take
wage increases above productivity gains, Uncle
Sam’s continued budget deficits, more spending
abroad than foreigners spend here . . . and you
have a pretty good formula for inflation. But if
you add the jetspurt of spending for Vietnam
(for things that will be trown away), you have
a super-duper concoction for a nation-rocking
economic blowoff.
CAN ANYTHING BE DONE?
Our prescription for the avoidance of infla
tion and its grim consequences is more spiritual
thjm economic: avoid greed! The greed of
business, the greed of strong unions, the greed
of politicians seeking votes at all costs . . . these
greeds combine to push us closer to the inflation
precipice. Each group must ask itself: Is it
good for the country? Certainly not. Is it good
for me? The nation is at war, and sacrifices
should extend behind the lines of battle. For
the duration, more taxes and less affluence
may save us all from great woe later.
CLINTON, 8. C., THURSDAY, FEBRUARY 24, 1M6
©Iff (EHntmt (tttjrimtrl?
Established 19M
July 4, 1881 — WILLIAM WILSON HARRIS — Js
13, 1955
PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY
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BEFORE ! AFTER
I
Every Item Replated at Sale Prices
FOR INSTANCE
M(. um Met
Teapots ....I22J5 $!U7
Fruit Bowls . 19.95 15.17
Castor Frame
(3 Ml. size) 12.95
Candlestick
(per inch).
Creamers ..
1.25
■f
11.95
11.37
1M
IN
Now is an excellent time to restore
your worn silverware, antiques and
fainv.'y heirlooms at great savings. All
work QUADRUPLE SILVERPLATED by
our master silversmiths. Sale prices
apply to ALL pieces imaginable . ..
castor sets, tea service items, trays,
etc. Old family items replated like
new make wonderful gifts, so take
advantage of those low prices.
EXPERT REPAIR SERVICES AVAILABLE
7
Dents removed ...
Kerns straightened
Broken handles, legs,
knobs, repaired'& replaced
Missing parts & insulators
repaired & replaced 1
New combs, brushes,
mirrors, knife Mades,
thermos fillers furnished
Gold, copper plating
Starling and pewter
expertly refinished
c
SALE ENDS MARCH 31
BRING IN SILVER TODAY!
J
J. C Thomas, Jeweler
CLINTON
“It’» Time That Counts”
JOANNA
-Anyone^ c/uv
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Account
and pe/iAi/itence/.
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M. S. Bailey & Son, Bankers
Established 1886
Member FDIC ,, Clinton, S. C.
Interest Paid On One Year Savings Certifcates"
FORD DEALER
WhiteSale
spectniy dml spociiiij oqiiippta,
full-sind ’ll Ftfls-sale priced new!
Only the economies of volume produc-
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Equipment Indudoe: 240-cu. k.
Big six; deluxe pleated, aril-vinyt,
color-keyed seats; deluxe brtght-
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wheel covers.
i Sale prices. LIMITED TIME SALE! COME IN NOVI
. .. FORD — FIRST IN SALES IN THE CAROLINAS
- / , *
Baldwin Motor Company
S02 North Brood Street — Clinton, S. C.