The Clinton chronicle. (Clinton, S.C.) 1901-current, August 25, 1966, Image 7
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THE CLINTON CHRONICLE
1
By SPECTATOR . . .
COMMENTS
ON
MEN AND THINGS
C h flipper R0«m
O THE UPPIR BOOM NASHVILLE TENNESSEE
HE WORLD'S MOST WIDEIY USED DEVOTIONAL GUIDE
Read Psalm 119:97-106; Luke 8:4-15
Continue thou in the things which thou hast learn
ed and hast been assured of, knowing of whom
thou hast learned them. (II Timothy 3:14)
When our famliy came to America early in this century,
ather brought with him a portion oi a Bible. The flyleaf
? vea!s that it was printed in London by Robert Barker,
|rinter to the king, in the year 1612.
Over the years, we children have regarded the old book
precious, an object of great interest, bridging as it does
lore than three hundred and fifty years of history.
But beyond its historical value, the Holy Scriptures are
|riceless in a deeper sense. Early in life Bible precepts were
aught to us as we gathered at the family altar. In later
[ears, they have been our unfailing guide.
What the compass is to the navigator on his path across
ic oceans, the Bible is to us on the journey of life in-
leed, all this and more. Followed, the Bible will lead us to
Iternal life with God.
PRAYER
Our heaveny Father, we thank Thee for the Holy
Scriptures which have been preserved for us
across the chnturles. May Thy Word indeed he
for me as “a lamp unto my feet, and a light unto
my path.” In Jesus’- name. Amen,
THOUGHT FOR THE DAY
The Bible has more than historical value; it is God’s
JVord, our unfailing guide.
Arthur II. Mitchell, property manager (Michigan)
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Is there a place fbr a kick
er? What is a kicker? He is
one who sometimes expresses
his disagreement he may be
a kicker in the home; or in
the office; or in the street.
Sometimes a kicker is very
useful; sometimes — in Con
gress, for example — he is
worth his weight in gold.
Kickers, you know, made
this nation; they rebetled
against the tea tax — and such
small things as that.
Suppose the kicker is basing
his attitude on the Constitu
tion, or Uie long-established
usage or custom.
I am not at this moment a
kicker, but I rise to a point
of order, let us say.
Can the President fix wages
and prices? Is there any law,
valid, constitutional law which
authorizes or empowers the
President to set or fix prices?
We have recently read that
the President is displeased
because of the increase in the
price of steel. .
One President so terrified
the steel mills a few years
ago that they reduced prices.
Well has the President the
lawful prerogative to fix
prices? Has he any atrthority
to fix wages?
We hear quite a bit about
the guide-line set by the Pres
ident, but what lawful right
has he to fix wages or prices?
The President eventually
bows to the wage feeders but
does not usually yield to the
wage-earners. What is the dif
ference? It might be suspected
that the difference is political,
that is that a million men who
are wage earners will show
their resentment at the polls.
But the million stock-holders,
the real owners of our enter
prises are not as well and
militancy organized as are
the workers.
When you brush all the bom
bast to one side you will find
that the main concern is votes
— all politics.
We may not understand the
military phases of the so-call
ed war in Vietnam. Three hun
dred thousand American sold
iers atong with hundreds of
planes and the greatest navy
in the world — where are
we? You don’t fully grasp ail
this, do you? Well, I don’t. '
Another thing: we and oth
er nations are all agog for
fear that we may have to re
value our money. Weil, thal:
is serious. Even the possibil
ity is serious. When I left Pord
I lost enough to buy several
cars because the Peruvian
money fell in value.
We could wipe out the sev
eral billions we give every
year. That would be quite an
appreciable help. Of Course
some other nations would pro
test. But our great probU-nt
should be to save America.
We need not sink with Britain;
we ought to save America. If
we save America that would
help save the world. But if
America deflates her money
all the world will suffer.
Some bankers and some pol
iticians talk about the finan
cial solvency as though it
were such an abtruse prob
lem that no one but a genius
of finance can evert a cala
mity.
No special genius is re
quired: if we eliminate from
our national budget about
twenty live billion dollars we
can measurably save our Am
erican finances. We cannot
throw money away in every
direction and have our na
tional treasury in wholesome
condition.
If we carry out much of our
national program we shali be
playing ducks and drakes
with the welfare of our own
country.
That our condition is not
wh<?,esome is easily seen. We
are playing Santa Claus to
much of the world and at
grave'dangcr to our condition.
We are like a fond old grand
pa who distributes all his in
come and much of his capital
so that all his sol.s, grand
sons, daughters, cousins and
in-laws shaB have new cars
every year and expensive va
cations in sumptuous hotels.
When the old gentleman pre
pares to meet Saint Peter the
Federal Government will have
to pay the hospital, the phy
sicians, the undertaker — and
all the little bills here, there
and elsewhere.
Instead of fostering our re
sources with full recognition
of the ‘‘Rainy Day”, we rush
gladly into Iree spending and
unbridled indulgence. We are
like the man who earns five
thousand dollars a year amd
spends ten thousand.
Unfortunately the have-nots
greatly outnumber the haves
and gladly advocate any mea
sure that seems to make them
feel prosperous. ‘‘After ns
the deluge” said old King
Louis of France. Yea, verily,
we are taxing the next gener
ation with bonds and taxes, in
stead of frugally measuring
our dreams by means.
Duncan Creek
Watershed Area
Being Improved
Work continues on the
Duncan Creek watershed as
20 7acres o eforded land were
planted to pines during the
past year.
Seventy-seven acres of gul
lies were stabilized by build
ing brush dams and planting
grass in them, said Forester
Robert Beach of the South
Carolina State Commission of
Forestry,. Newberry District.
To date more than 700
acres of pines have been
planted on the watershed
area. Numerous other prac
tices have been carried . out
to improve the water-holding
capacity of the land. More
than 280 acres of badly erbd.
ed and gullied land have
been stabilized. by brush
dam work and tree planting
since the watershed work
was begun in 1962.
Under an agreement with
the Laurens District of the
Soil Conservation Service,
the South Carolina State
Commission of Forestry has
the responsbility of estab
lishing pine stands on the
badly eroded areas of the
watershed.
My Niighbors
mmmrrnmm
ChtBibU
In him we live, and move,
and have onr being.
—(Acts': 17:28).
We live in a good climate, a
God climate. God or good is all
around us. We see only good,
because we are surrounded
by it. Since our climate is
God. we have only peaceful
happy feelings. No longer do
w& let other people or situa
tions upset us. Because we
live in good, we are not anx-‘
ious God is our all.
■ "Wow—pralty slick roost
they've built just fe* us,
huhr
CLINTON'S
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THE MOST CRITICAL, do
mestic issue facing the nation
today is inflation. Although it
Is classed as a domestic issue,
the problem of inflation has a
direct bearing upon our stature
as the bulwark of freedom in
the world. Therefore, inflation
in the United States is, in a
very real sense, a problem of
international magnitude to the
community of free nations of
the world, affecting, as it does,
our ability to pick Up the
gauntlet of freedom wherever
it mav be thrown down.
THE CLASSIC DEFINITION
of inflation is a disprooortion-
ate, sharp and sudden increase
In the quantity of money or
credit, or both, relative to the
goods and services available for
purchase. TMs condition un-
ouestionablv exists today, but
the definition only partially
tells the story of the stresses
now on the economy because
It was framed during a time
of less government involvement
and control over the economy.
The Inflation now being experi
enced In our country has an
even more widespread effect
upon the economy and upon the
average individual than is gen-
ernllv realized.
THE COST OF GOODS and
services Is constantly Increaa-
fng, resulting in an equally
constant decline in the value,
or real purchasing power, of
the dollar. Although everyone
feels the pinch, those who have
the most to lose and who are
hurt the most by Inflation are
those living on fixed Incomes,
as^btfrees under Social
it^Jnd other annuitants,
whose thills are not now In the
market olace.
ANOTHER COMPLICATING
factor existing today Is that
while the value of the dollar
is constantly on the decline as
a result of Inflation, the cost
of the dollar, or interest rates.
Is increasing sharply. Recently
the government announced that
It will pay 514 % on long-term
bonds, the highest rate offend
In 45 years, or since 1921. Not
even during the great depres
sion did Interest rates paid on.
US. Government securities
soar so high. Other government
ohffgaffons. which do not carry
the PWT Faith and Credit of
. the U5.. such as sales partld-
potion certificates, carry an
even higher rat* of Interest.
A LEADING FINANCIAL
-hJunmr'rdeerttty reported, that
interest rates on municipal
bonde, the main source of fi
nancing for major capital tm.
A WELCOMED WAR
provements, has risen to a 32-
year high. Additionally, just
within the last week several
major banks have raised their
prime interest rates to a whop
ping fi percent, and there is
ever;' Indication that other
banks will tollow suit.
THUS. WE ARE CAUGHT
In the anomalous situation of
having to pay more to borrow
money when the demand for
money and goods la greatest
and the value of money the
least. Under normal condi
tions. higher interest rates
would mean a curtailment In
the supply of money with a
resulting beneficial effect upon
the Inflationary spiral. How
ever, this has not occurred, and
the American people, who are
forced to carry fhe burden of
both Inflation and high Interest
rates, are entitled to ask, why?
THE CHIEF CULPRIT Is
the government’s fiscal, or
money spending, policies. Total
public and private debt in the
United States today amounts
to an estimated SI.4 trillion.
While private debt does admit
tedly add to the inflationary
trend. Its impact Is not nearly
as severe as government spend
ing because it Is usually backed
by a mortgage on property
which can be claimed In the
event of a default. On the
other hand. In the event the
government defaulted on its
obligations, no one would sup
port a foreclosure on the Capi
tol, the White House, or the
local post office building. The
government has followed a pol
icy in recent years of know
ingly encouraging inflation and
planning unbalanced budgets
and deficit spending. At the
same time, government borrow
ing to finance high-flown
’’Great Society” programs are
competing for funds on the
open market, driving interest
rates up, and cutting off the
supply of money in such critical
areas as the home building in
dustry
IT IS PAST TIME the Ad
ministration declared war on
inflation and high Interest rates
by adopting a sound, responsi
ble fiscal policy. The stability
Of the dollar is essentia) to the
security of not only the citizens
of the U.S., but to all the peo
ple of the free world. The war
against totalitarianism can be
lost just as easily on the eco
nomic front as on the battle
field.
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