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/ a.' THK CLINTON CHRONICLE .. • •.■<_■ #*' - • s ' • Clinton, S. C., Thursday, May 4, 1967 “Going My Way?” Uruguay, once the Switzerland of Latin America*’, has in 16 years gone wild over the welfat* state, according to an article in the April Issue of Nation's Business magazine. It sent an editor to Uruguay to look over the land which in 16 years has fallen from the ranks of the moat affluent and economically sound to the list of Western nations with the most critical ills and found that it is common for government workers to re tire on nearly full pay when they are in their mid-40’s. Welfare cheating is com mon. Uruguayans are aware of what is happening in their country and asked the Nation’s Business editor, “Is this the way the United States Is going, too ?’’ loss of $42 million, plus an additional $4 million in sales tax loss. The loss t«w'3 the State treasury was $2.8 million. -JjJ In other words, everybody lost b<®£j* the crooks. Ultimatums Not Acceptable When the United States was faced in August, 1963, with the threat of a nationwide railroad strike, the U. S. De partment of Commerce with help from other government agencies conducted an industry by industry survey to deter mine how damaging such a shutdown would be. At that time, the following immedi ate results were forseen: 700,C|30 rail employees out of jobs; a slowdown in shipment of national defense items; a shutdown of coal mining operations, ham pering steel production, public utilities and export traffic; closing of some fac tories due ^material shortages; a loss of retail. trade, and food shortages and cummuter train tie-ups. The survey stated that, “Beyond the one week mark the economic costs of the strike would surge upward at a rapidly accelerating rate as more and more industries ex hausted their stocks of materials and components and thereby became bottle -necks for their customer industries . . .'* It was estimated that after 30 days, the annual rate of Gross National Product would be down about 13 per cent, nearly 4 times as great as the biggest postwar recession in 1957-58. The unrecoverable loss would amount to $25 billion or more. This was in 1963. Today, the cost would be even higher. % Nobody Believes Aesop More than 2500 years ago Aesop told a tale that many people, even today, can’t get through their heads. It’s the fable of the goose that laid golden eggs. Hoping to get gold .faster, its owner twisted the bird’s neck. End of goose. End of gold reserve. Bertram Powers, threatening still another strike of New York City’s news papers, seems not to believe Aesop. Nei ther does Walter Reuther, who is pre paring to shut down the nation’s auto mobile industry in a year when car sales are off, badly. But New York City’s finance direc tor, Roy M. Goodman, may be getting the idea. The other day he was bewailing the fact that the city had lost $17 million in cigarette taxes in a single year be cause of “butt-legging.” This started when Mayor Lindsay doubled the city tax, so that the smoker now pays a total , of 16c a*1>ack in state and city taxes — on top of an 8c federal tax. With an in viting 16c margin to work with, petty punks began smuggling cigarettes into the city in truck-oad lots. Then the Ma fia moved in. Not only did the Mafia smuggle cigarettes, but it now appears that they moved in to take over some of the legitinjate wholesale tobacco dis tributors. , Sales of cigarettes through regular thannels fell off sharply in New York— by a third. The city reported a total tax Th*re will be friction in the UmtejC^t States as long as politicians promiset^* minorities more than they can deliver - Z * i B«b»on’» Point «rf Vi«w On; Our Dollar • Babson Park, Mass., April 27—The other day a vice-president of a hugh N. Y. bank dropped a ‘‘bombshell” into international banKlng circles. He suggested that if foreign governments holding deposits here should insist on turning them into gold, the U. S. )ust might refuse to honor their requests. That we would simply sit on our $t$'billion hoard. The fixed price of $35 per ounce, at which the U. S. agreed to redeem the dollar for foreign holders ever since the end of World War II, would be no more. In a word, we would divorce our dollar from gold! FUROR IN FINANCE Some Immediately said that the banker’s “trial balloon” had been handed to him for release by none other than the Secretary of the U. S. Treasury, It has long been known that official Washington has been “all steamed up” because foreign nations—whom We rescued from the brink of, economic disaster a few years ago — are continually exchanging their dollar holdings for gold. Such resentment has applied especially to France. Others, however, held that the startling statement was only the opening gun in the battle to give greater liquidity to all Free World currencies. This financial Ar mageddon is slated for Rio de Janeiro in September at the meeting of the Interna tional Monetary Fund. Whatever the intent, whoever the instiga tor, the effect was electric. The price of gold shot up in London. Long dormant and bump ing bottom, gold shares in New York were sparked to life. Economists great and small were eagerly sought for press interviews. The central bankers of Europe shuddered. And we can guess that the “Gnomes of Zurich’» laughed. behind the smoke It is said that you can count on the fingers of one hand the men in this country who really understand international money and its ramifications. Even this may be an over statement. However, the smoke now belch ing from the banking and political capitals of the Free World does have a source in some serious financial fires. The two major ones are: (1) The now accelerating plunge of the U. S. into debt to the leading nations of Europe; 12) the failure of gold supplies to climb rapidly enough to accommodate a global credit expansion sufficiently large to finance ever higher levels of world trade. On count number one we stand at least partially guilty. For years, the U. S. has spent, lent, invested—and just given away— more to other nations they they have spent, lent, etc., in this country. It has been our dollars that our allies have been glad to . amass. Why not? For Uncle Sam has said, ever since Bretton Woods in 1944, that, he would redeem them for foreigners any time at $35 an ounce. And there’s th£ rub! When we had over $20 billion in gold, the bottom of the barrel looked far away. But now that our gold stock is down to $13 billion and foreigners hold nearly 30 billion of our dol lars—they ask us ever more insistently: “How Long?” SOLUTION UES IN CO.OPERATION Surely, we cannot go on forever flooding the world with dollars. The law of supply and demand would steadily force the dollar’s value down. But the high outflow of dollars. has enabled our allies to finance their ec6- nomic expansion and to support a world trade boom. It is only recently that doubts about the dollar have threatened world prosperity^,. The real job for the U.S. is twofold (1) Restore confidence by slowing down our dollar hemorrhage; (2) work co-operatively with the other nations at Rio in September to establish a broader base than just the dollar for greater international liquidity. Our Allies must help us to achieve the first, and we must sacrifice some prestige to attain the second objective. * £ * DEVALUATION NO ANSWER Admittedly it will be hard for us to “give ground” at Rio. When the International Monetary Fund was formed, we were king. That is not so now. As creditor we could call the tune. As debtor we must find a solution fair to all. And we shall have to learn to would limit our world commitments ... or slip deeper toward bankruptcy. Surely we must shun the suggestion of the N. Y. banker with regard to dishonoring our commitments. For the result would be devaluation and a train of financial and economic events with consequences that no man can foresee and that few would care to contemplate. CLINTON, 8. C., THURSDAY, MAY 4, 1967 Qty* (EUntun (Htjronirle J«ly 4, 1889 - WILLIAM WILSON HARRIS — June 13, 1955 Established 1888 PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY Subscription Rate (Payable in Advance) Out-of-County j __ One Year, $4.00; Six Months, $2.50 One Year, $5.00 y’i Second Class Postage POSTMASTER: Send Form 3878 to at Clinton, S. C. Chronicle, Clinton, S. C. 29325 they are not of a defamatory nature. Anony- This paper Is not responsible for the views The Chronicle seeks the cooperation o4 fit subscribers and readers—the pubUsher will at aQ times appreciate wise sugfestloAs and kindly advice. The Chronicle will publish letters of general Interest when thi mous cotnmuoicaions win not be noticed, or opinions of ixc correspondents. No responsibility is assumed by the pufaisher for Omission or error occurring in advertisements or news matter, but correction will be made in the next issue when attention is directed to it. In no event will liability be assumed when merchandise is sold at incorrectly advertised price. — ' ' > ■ IjWII II - . „ MemOer: South Carolina Press Assotlatlon, National Editorial Association National Advertising AMERICAN PRESS ASSOCIATION itstive: Chicago, Detroit, Philadelphia V..' ii “ x. .i.-- . _ »-• s-*'* •» Hasn't Worked Yet Stories Behind By William S. Penfield On Tenterhooks In the Middle Ages one of the final steps in manufacturing woolen cloth was stretching it to rerfiove wrinkles.. The cloth was soaked in water and put on a “tenter,” the stretching device. The tenter was, like a curtain-stretcher, a frame witt movable sides. The sides were lined with, hooks to which the cloth was fastened. These hooks were called tenterhooks. Anyone in great suspense was compared to cloth being stretched, and was said to be “on tenterhooks”—that is, under a great strain. Your //AVIAllWiW Program Today and Friday 28linesx2col.(56lintt} 2 col. x 2 incho •#> * . Exploring An Unknown Universe Stephen Boyd, Raquel Welsh 3:15, 5 7 and 9 p. m. Saturday - One Day - May 6 stirring That "Min Of The West* 30th CmturyFox promt* AN AARON ROSENBERG production t by OeLuxe 1, 3, 5, 7 and 9 p. m. WELCOME TO BARD TIMES mtmwmmm | mint i .METHOCOfla Li^yi . > 3:15, 5, 7 and 9 p. m. I rent DiHord EMiott Wittes... No. 7 lanes* wrestling matches ^ entertainment for the youngsters, the Irish word for wrustle was scuffle, and thougfc: the pddlrts were pure Scotch, they W8d picked up many Irish words and cus- . . . 1 ^ toms. SkL M the IffiRlNr, so “What was tl»8 origin of our Common Law oecame a stat- . scuffling was the tbwtttaip "syitsmT” I asked ed item of the State Cpnstitu- sport, though ~ s three people t thought tion. ^ hoeing tournament grad- ght hive the answer on the Could you name our nine ually replace d the scuffling, townships? I confess I had to ^n^inuaH — con- The Scuffletowp Special % townships? I confoss Inaaio ^ p^, con ti„ued con- he wrttnded b, good Mtts t(mM (set, to the ptnsent. tip of their tongues. “I dort’ know” said our learned and beloved State Culbertson, “re: ^- Mri. gtoddatd might to Arehlvlst. Charles Lea, “but D1 *!*' s “ ulv **' write her memoirs, for lecal I Imagine K was the eentt- Waterloo. Cross Hill, Hunter, Mb fa Edgefield as tution (Radical) of ML" ■»**». Seuffletown. well at Scuffletown, she has “I don’t know”, said my As for me and my house — and is the richest mine of lo- law-professor^merltus bus- 1 ,e «l certain, you and your c ai lore 1 know, band, “but I think you will hmw — Township .means ^ Scuffletown Post Of- find it lost in the maze of Scuffletown. We had no cur- flce et tabli8hed with the de- Chronicle Advertisers antiquity — in the English toslty about the name;it was jj^y ^ ^ ma n to the whole Common Law.” curious to us. Outsiders, U p. Colln t f y ) gave way to Ora “I have not had the oppor- though, wondered, and teased. ^ railroad from Au- tunity to study the origin,” Dhl our men scuffle. ;If not, gusta t 0 Spartanburg was wrote Miss Jennie V. Culbert- how came such a name. built. That is another story, son, “but presume they were Mrs. Jaynes A. Stoddard, involving the romance of the laid out at the same time that nee Effie Toland, who was rai j s | n Laurens, the county was organized.” born accidentally in Alabama please send mail to 512 Con- They', i.e., my consultants, but has all her own and her gargg Ave., Columbia, S. C. were all correct if my pleas- husband’s roots in Scuffle- 29205. * ant reseaich is accurate. Wal- town, has the answer. ** lace’s History II, 43ff & III, When those Scotch - Irish. . . . 336ff gives a fascinating ac- Presbyterians came, by sail, count, too long even to be from County Antrim, they had summarized here, of the le- no rooms tor means of enter- gal and social beginnings of tainment but they were plea- our townships. sure - loving Scots. They > Following the English Com- therefore hit naturally upon mon Law, Williamsburg Town- the picnic idea where anything ship was named as the first from toot races to lovers’ organized settlement beyond the fringe of neighborhoods on the ocean front. This was in 1730, when the famous Witherspoons and others came to locate near “The King’s Tree.” As other • nationalities sent groups iu the up-country, and as tiie Indian Line was grad ually pushed back to what is now the boundary between Laurens and Greenville, Swiss, German, Scotch-Irish, ten townships were designated. Wallace has a good map show- ihg their location. Presently one, Altamaha if my memory serves rightly, was merged into the new Colony of Geor gia. Then, as the children’s song runs, “Then there nine.” It does not take much im agination to reckon that the number nine led our patriotic founders of Laurens County to use that number. Elec tions, magisterial courts, post offices, school adminisrations found the township such a con venient unit that somewhere along the line up o 1868, what had hitherto been unwritten From menus to mailings We print everything right Cards to catalogs, bills tt> broadsides . . . what ever your printing needs, you can count on us for quality workmanship, dependable service, reasonable cost. Free estimates. • / ' Chronicle Publishing Co. 109-111 Gary Street Phone 833-0541 The DEBONAIR I Model AJ 087 172 tq. in. rectaniuler picture big-screen Mw sportabout TV Luxurious RCA Victor Sportabout is ideal for family viewing. Big screen, big performer. Powerful 20,000-volt chassis (design average) EASY and New Vista VHP and Solid State UHF tuners combine for sharp, clear pictures. Top-front controls. Built-in antennas and disappearing TERMS handle for reception all around the house. Mon. - Tues. - May 8-9 mMM CMjKstown... ju?t liktamn! portable color TV The HEADLINER Model EJ 507 102 tq. In. rectangular picture RCA Victor’s first portable Coloi EASY TV. Rectangular Super Bright TEQAiC Hl-Ute Color Tube. , lUUfW AM/marine personal portable radio EASY TERMS The DECKHAND Model RJE16 Perfect for boating buffs. Bandspread fine tuning. ‘‘Personal Sound” oarphono and bat* teries included. Starts Wed. May 10 “PERILS OF PAULINE” Got Anything to Sell? It With a Chronicle Want Ad THE MOST TRUStED NAME IN ELECTRONICS COX HOME & AUTO SUPPLY * • • V I • . k “Customer Satisfaction Guaranteed” 205 North Broad Street Dial 833-0730