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1 ; ^ .. ^ ^ THE ri.TNTON CHRONIC!.F Clinton, S. C„ Thursday, September 22, 19fir* Who’* Tight? There are a lot of automobile* and house* that aren’t being sold these days —to mention just two commodities— because would-be buyers have found that money is hard to get. Even at rec ord-high interest rates, it often isn’t to be had. This is puzzling to many people who had been accustomed to buying on credit, whether they wanted a summer cottage, some new bedroom furniture or a seven-course dinner at Chez Louis. Where did all the money go ? j . The fact is that; so far as credit is concerned, we probably had too much % of* a good thing. Even conceding that I a large part of today’s business in this country must be done “on time,” it was befcoming too easy for too many people to*buy too much. Some curtailment was inorder. • So the government stepped in. A “tight money policy” was established to) put a brake on a lot of needless spending “This, it was felt, would ease inflationary pressures. People wouldn’t be' competing so strongly for goods, thjjs forcing prices up. ! But, as so often happens, the plan ners got some results they hadn’t count- ed on. An unsold house doesn’t penal ize just the owner and the real estate brpker selling it. As long as it remains urisold there is no need for carpenters, painters, plumbers, electricians and oth er^ to construct other houses. Not to mention the slackening in the need for building materials. And while brisk de mand isn’t there to force up the price of'.that house, or others, a growing pop- ulition needs places to live, so there’s pressure on rental housing, which means higher rents. tions must be the responsibility of top management . . .” This is good advice for any business enterprise, for labor unipn officials and holders of public office, as well as those who might be tempted to shortchange the public interest. THE AMERICAN WAY Youth Wants to Know Bv RANDY GRIFFITH wdulfln’t have them long. So, do unto ybur family . . . Babson’s Point of View On Cooling The Boom By ROGER W. BABSON ~~Babson Park, Mass., September 22—It is now official. President Johnson would like to see Congress take action to cool off our over-heated economy. He is worried about rising prices and believes that first steps should be taken before the elections to pre vent runaway inflation. He also called on the money managers to ease the “inequi table burden” of high interest costs. STEPS RECOMMENDED In his message to Congress. Mr. Johnson asked for only a limited amount of'legisla tion now. However, there was an implica tion that if his first attack on inflation should not be effective, more recommenda tions for new laws would be made. This would presumably be done after the turn of the year. But for now—before the current session heads for the hustings—he is asking for con gressional action to suspend the 7% tax credit on business investment in new ma chinery and equipment from September 1, 1966, to January 1, 1968 Also, deferment for the same period is asked for the fast tax write-off on new buildings. All other anti inflation action sought is in the form of re quests: (1) To Congress to go slow on ap propriations for non-defenses (2) to the Federal Reserve to ease interest rates (3) to the government agencies not to add to the demand for money; (4) to business and labor to hold prices and costs down. Nag, nag, nag, day after part for the rest of the fam- day, year after year. It’s eith- jiy. er that you’re on the phone Look at u this way . would too long, or in the bathroom you ^ reat your friends that Nothing tc Cheer About Stories Behind Words By William S. Penfieid for centuries, or yot ’ve got the radio on too loud. It ap pears that you can’t do any thing around the house with out somebody griping about it. After all, wou’re not liv ing ,in a museum — or are you? If a person can’t enjoy the conveniences of his own home what is the world com ing to? You and your friends prob ably share such complaints abort family life. You feel you’re always being toW- “not” to do something. But are these complaints always legitimate? Weren’t some of the evenings you stayed on the phone too long times Dad or Mom or another member of your family was expecting a call? And when you spend an hour in the bathroom,, aren’t you delaying someone else who has to get ready for school, work or bed? These may seem like very minor things. But they add up to a lack of consideration on your way? Probably not, or you IF YOU DON’T READ THE CHRONICLE YOU DON’T GET THE NEWS PHONE 833-0541 John L. Mimnaugh about this question: “Back to school” sig nals new exposure risks for the children —also of hunting sea son—fire hazards. Is it wise to have a free survey of risks and insurance policies by the Bailey Agency to be sure of adequate pixitection at reason able cost? BAILEY AGENCY M. S. Bailey & Son, Bankers, Building Dial Day 833-0681 — Night and Sunday 833-0323 NOW... < Little wonder that there has been a growing chorus of complaints against certain aspects of the tight money pol-< icji, partcularly since many people think that our political leaders are setting a poor example. The President, for in stance, has made it clear that he has no intention of sacrificing any of the fea tures of his extravagant Great Society, which is about as inflationary a brain storm as was ever conceived. And if you look at other facets of government, you will find a similar cynical attitude. The Tennessee Valley Authority, for ex ample, with the blessing of the Presi dent, has just been authorized to bor row one billion dollars to expand its electric generating capacity—while pri vate industry is being ordered to cut back. It’s a tight money policy all right, but not for the bureaucrats and other fat cats. BOY ON A MAN’S JOB? To us it looks very much as though sus pension of the investment and construction tax relief—even if promptly made effective —would be too small an effort in the fact of such a mighty inflation wave. It would be like fighting a big forest fire with a buck et of water. The outpouring of credit which has been going on for years cannot be halt ed by an attack on one small front. Furthermore, timing is most important. If the economy is overheated — and most economists agree that it is—any action tak en to cut back the demand pressure on our productive machine should bring results fairly rapidly. The President himself point ed out that order backlogs for machines and equipment are months behind produc tion right now. It is not likely that plans already in operation will be cut back very much by the suspension of tax relief. Per haps the best that can be expected is that projections now on the drawing board will be postponed. Thus, the desired impact on the economy may be a long way off . . . when it is needed here and now. Patter “Patter”—rapid, running talk or chatter— at first glance appears to have no connection with the Lord’s Prayer. It does, though. In Medieval England, church services were conducted in Latin, and the Lord’s Prayer was commonly called tht Paternoster or Pater Nos- ter (Our Father), the opening words of the Lat in version. Quite frequently the Paternoster was utter ed rapidly and mechanically. Any rapid talk or’spiel, therefore, was likened to the recitation of the Paternoster. Such talk was called “pat ter.” a contraction of Paternoster. Good For The Ganders Too! No group or organization can con duct its affairs without regard for the interests of other people. No one is too important *r too insignificant to be in dependent of other people. Mr. William W. Weston, public relations director of the Sun Oil Company, says: . . com panies ... to survive and succeed . . . . . . must demonstrate . . . that they are responsibly serving the people . . . the employees, the stockholders, (and) the customers . . . the public interest. No company can merely talk itself into a go<^ ' refutation, any more than a shine can be put on a rotten apple . . . responsible, moral performance is the essential first requirement for good pub lic relations, and therefore public rela- ASKING AND RECEIVING And, for the requests made of Congress, the money managers, businessmen, and la bor leaders, it is highly doubtful that early decisive action can be expected. It is the same old story. Management may hold back on price hikes . . . but not if unions keep punching wage costs ever higher. La bor in turn points to historically high prof its and says they want theirs, too! Con gressmen who are about to go before their voters are under pressure to “bring home the bacon.” No, human nature is not going to change just because the Chief Executive says we must stay the inflation dragon. As far as the Federal Reserve Authori- Ues are concerned, we must not forget that they are charged by law with keeping prices from running away. In addition, for months now, the whole brunt of the infla tionary onslaught has been borne by the Reserve Board. They can hardly make money easier and less costly until they see higher-price pressures subsiding ... es pecially since this is the first time the Ad ministration has offered to help fight the battle. Hasty moves now toward money ease could really put the fat in the fire. Highlights From Clinton High By KAYRAN COX These lovely wedding rings ore superbl** styled in classic and contemporary designs. One just right for you. Btofi enlarged to sb ^ Tiade-Mast I This week has certainly been a busy one for every CHS’er. Beginning last Tuesday the pictures were made for the anftual. All seniors had theirs IT’S A BIG JOB We are very much afraid that the enor mous size of the job ahead of us—dampen ing the inflationary fires—is not fully un derstood. More than a “balance” of the na tional budget, more than a slowdown in business expansion, more than a tiny and selective tax rise, more than a mild re straint on soaring money and credit sup plies . . . will be necessary before inflation can be licked. All of us will have to give up something to win the fight. Otherwise we will all be burned by the inflationary fires as they lick ever closer to our own particu lar homes and interests. made on Tuesday with several of the juniors classes. The sophomores’ and freshmen’s turns came on Wednesday and Thursday. It seems as though everyone at CHS looked extra good these three days, but then everyone wants to have a good picture, don’t they? It’s too bad those boys can’t wear those good - looking suits all the year round. And don't those girls look nice with their hair all fixed! Yesterday afternoon the Na tional Honor Society held its first meeting. There were al most thirty members added this year. Then, too, this week marks the end of the Sentinel drive. The school paper costs $1.50 for a year’s subscription, and all subscribers get a half holi day on homecoming. Today is quite special to each Brave Ole’ Senior here at Clinton High School. We fil led out the blanks in home room to order our class rings, charms or pins. Also we were measured for rings as well as the caps and gowns which will be used at graduation. This activity begins the list of hap penings which truly make one feel like a senior. Now, don’t you agree that CHS had a full week? Whew! DILLARD BOLAND Pitts Street Clinton, S. C. Crystal Stemware by UENO>C When you see its sparkling beauty, you’ll know it’s Lenox Crystal. Harid-blown and polished for fire and brilliahce."Sophisticated shapes > to delight traditional or contemporary taste. Open stock, of course. Romance— $3.75 each. 3-piece place setting (illustrated) $11.25. DILLARD BOLAND, Jeweler Pitts St. — Clinton, S, C. Public Records MARRIAGE LICENSES Wade Hampton Brewing- ton, Jr., of Laurens, and Jo an Shirley Christine Ed monds of Clinton. William Ernest Phillips and Phyllis Gail Sisk of Woodruff. Furman Edward Painter and Donna Elizabeth McAlis ter of Spartanburg. John Joseph Bowie and Mary Elaine Bradley of Clin ton. Homer Reece Culbertson and Jean Smith Burgess of Greenville. Johnny Gerald Sanders and Sandra Joy Todd of Don alds. Arthur Dalton Littleton and Catherine Hazel Summers of Clinton. CLINTON, S. C., THURSDAY, SEPTMEBER 22, 196« Your I /MMUWfvX Program \ t. ulljp OUtnton (Eljrmttrlr Established 19M My 4, 1889 — WILLIAM WILSON HARRIS — June 13, 1955 PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBUSHINQ COMPANY Subscription Rate (Payable In Advance) Out-of-County One Year, $4.00; Six Months, |2.S0 One Year, |6.00 Second Class Postage Paid at Clinton, S. C. POSTMASTER: Send Form 3879 to Clinton Chronicle, Clinton, S. C. 29325 The Chronicle seeks the OoUperation of its subscribers and readers—the pubUsher trill at all times appreciate wiee suggestions and kindly advice. The Chronicle will interest When they are not of h defamatory nature. Anony- letters of ununicakms is of its con paper is not responsible for the views by the publisher for omission or error occurring in , but correction win be made in the next issue when liability be assumed when merchandise is CmUM Pm. AaKUan. National Editorial Aasbdatioa New York. Chicago, Detroit, Philadelphia TODAY, FRI., SAT. SEPTEMBER 22-24 MON.-WED.. SEPT. 26-28 vSl&r-MclSiilM^ jgl.p^iwrsr] Shows: 3, 5.' 7, 9 p. m. Sal .turday: Start 1:00 Shows: 3, 5, 7, 9 p. m. ysfematic vmgs uccess Open your account nowl M. S. Bailey & Son, Bankers Established 188*? Member FDIC Clinton, S. C "41/2% Interest Paid On One Year Savings Certificates'