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I V V- ' •> IIV Straight On imports ■ Several weeks ago, we editoiial- t wed about the dangers foreign im ports held for the U.* S.* textile in- ~ dustry and its employees. At that time we pointed out that VVkeiPresident Hubert Humphrey assured South Carolinians on a .re^- cent visit that the administration would allow no jobs to be lost be cause of textile imports. We also pointed out that Secretary of State . Dean Rusk at about the same time was assuring the Japanese that the U. S. welcomes foreign textile im ports. Our point was that it’s hard to know which administration spokesman to believe. POINT Debt—Status Symbol? BABSON PARK, MASS., A surprisingly large cross-section of citizens today are liv ing — and even planning futures that will be — permanently in debt. Credit men who study this phenomenon claim that many of those families are only two to four weekly pay envelopes ahead of total insolvency. Consider the state of our consumer economy if a recession should suddenly plunge these people into a swamp of unemployment! THRIFT OLD-HAT Like the federal government, numbers of men and women have adopted the concept of perpetual personal indebtedness with their creditors holding an endless lien on their iuture income, millions of our people replace their cars every year or two, trad ing in the old for the new while still paying for the old. They count their auto bills as just as regular and basic a monthly res- ponsbility as their rent or grocery bills. • Owning a car and putting money away payday toward another has become old-hat to more and more buyers. Another such development is the tendency of a great many families never < actually to own their homes. When they built up some equity, they remortgage and use the money for new cars, boats, luxury vaca tions. or even to pay off outstanding debts so they can take on more. In the letter re gard. loan companies declare that by far the greatest number of applications coming to their desks today are from those whose who want to consolidate their debts. Some of fices report that 75 per cent of their loans are for renewal or enlargement of existing accounts. Time was when a luxury was what you couldn’t afford unless you saved up for it by aonsistently putting something aside until you had enough to plunge. Today, however, the standard of living has climbed to such a high level “luxuries” are now “necessities” which borrowers refuse to give up in order to settle their bills. There are lots of smart cookies who see to it that they pay their in stallments on larger items such as cars, TV sets, pianos, refrigerators, and anything else that might be repossessed if they fell behind. But they will hold out — forever if pos sible — on bills they owe the doctor, the grocer, the dentist, the department store, or the druggist. Such unsecured creditors suf fer especially heavily if the matter comes to personal bankruptcy proceedings. Some what of a paradox is the case with which most purveyors of goods and services grant credit. Many of them virtually beg potential customers to become their creditors . . . far too often requiring no security and conduc ting only nominal credit investigations. BANKHUPTCY Fifty years ago bankruptcy was “the last resort” for business concerns unable to make the grade financially. But today it is almost c way of life for a good many in dividual consumers. Out of a record-breaking 208,32f» bankruptcies filed ) in fiscal 1967 (ended June 30), close to 175,000 were peti tions from wage and salary workers seeking to get rid of their debts by way of the courts. - Case analyses revealed that almost half of such employee bankrupts could — if they had the courage and integrity tio* try — pay off their debts in two or three years, and without plunging their families or them selves into undue hardship. Perhaps even more revealing are the statistics which show that four out of five of those delinquent deb tors will be right back in the same financial scrape within three years. One thing is certain: With this gaining strength among the consumer's credit security must ened and requirements must be rather than eased; and consumers must practice at least reasonable regulation of their urge to overextend. A lax company can lose its shirt if it takes on itjs debtor lists too many questionable risks; and a compulsive, irresponsible buyer will prove to be a liability — rather than an asset to himself and the economy. tendency country’s be tight- increased ' ' Now' we know, ‘ f r President Lyndon B. Johnson has put the record straight. He recent ly was quoted as reaffirming “the administration’s basic support for a program to eliminate any unneces sary barriers to the freer flow of trade.” ' He made the statement as he al lotted . to elapse trade agreements which provided higher tariffs on tyepwriter ribbon cotton cloth. The major impact of his action hits Greenwood Mills Plant No. 15 in Jo anna. That plant produces virtually all of the typewriter ribbon cloth in the U. S. * 1 ' Greenwood Mills officials are now'trying to find ways to convert the Joanna plant to production of some other product. They are hop- . ing. that no local jobs will be lost, ,Uut admit that the transition won’t be easy. This is a fine example of how U. S. toreign policy can adveresly af fect local industry. . • . If s a frustrating situation , in . which the government imposes more and more restrictions and require ments on U. S. industry and then •• turns around and does all that it can to help U. S. industry’s foreign com- ' petitors which aren’t hampered by such restrictions. Normally, we ignore unsigned letters. However, we received one last week which needs an answer. The anonymous letter - writer took issue with The Chronicle’s ar ticle which said that Johnson allow ed the trade agreement to elapse. The writer said The Chronicle should have put the blame on Congress. .. The anonymous writer is wrong. The responsibility for allowing to elapse the trade agreemnt clause . which effects the Joanna plant rests Sftlfcly with President Johnson. He had the authority to extend the' -clause on to 1971. He did not choose ,;tD extend the clause and thusly let • “it elapse. ' The recent Congressional hear- •ings on imports had nothing to do ’ NWth that particular clause which %as put into effect by previous trade agreements. Credit Card Government ~ From the inception of credit -*Hirds as a way of life, the head of ’the household has faced the task of \ convincing the other members of the family that there is always an inevitable time of accounting when coljj cash has to be paid for various .^purchases. This educational process , has required considerable persist ence, and the time element has va ried from home to home. But even tually, the bread-winner had to win . his point or go off a credit card ! basis, if he wanted to stay solvent. ... On the horizon is a different pic- * tiire. In this one, it is the younger • members of the family that are be ginning to register concern. Grad ually these youngsters are begin ning to realize that thev are the ones who will have to pick up the * tab for the government’s credit card. In only six of the past 37 years has there been a balanced budget, despite the highest peace-time taxes in history. In each of the other years, Uncle Sam has used his cred it card—a promise to pay. Those promises, in total, were uncomfort ably cramped under a national debt . “ceiling” of $336 billion. Congress, charged by the Constitution with controlling the nation’s purse ’Strings, has been in an embarrass- ing dilemma. It has had to issue new credit cards to a delinquent . i debtor. Now it is debating a new , “ceiUng” of $365 billion. Facing •a fiscal 1968 deficit next June 30 • which even the President has ad mitted may, reach $28 billion, it is questionable whether even that new level' will" accommodate the credit card spending. Such a stratospheric total makes it obvious who is going to have to meet the payments of credit card ^government. It will be the genera- •foftpi. And their children. Of . youngsters still in the class- —~ T tn Egyptian Mummy CLINTON, S. Cf, THURSDA^ NOVEMBER 2, 1967 DONNY WILDER, Editor and Publisher Established 190# PUBLISHED EVERY THURSDAY BY THE CHRONICLE PUBLISHING COMPANY Subscription Rate (Payable in Advance) Out-of-County iu: One Year, $4.00; Six Months, $2.50 —— One Year, $5.00 Second Class Postage Paid at Clinton, S. C. POSTMASTER: Send Form 3579 to ClintoiTphronicle, Clinton, S. C. 29325 MemOer: South CaroUna Press Association, Rational Editorial Association National Advertising Representative: AMERICAN PRESS ASSOCIATION .... ,*,1 New York, Chicago, Detroit, Philadelphia / SC* mm ■Ji cvulv trout 18-THE CHRONICLE, Cfinttfo, S. C., Niv. 2, ifol Prayer, St? Capitol News Report Britain, Too, Has Much Stake In TFX Tl" I! BY THE CHRONICLE’S Capitol Newts Bureau WASHINGTON, D. C. — There is more at stake in the continuing TFX hassle than the political reputation of President Johnson, the trust worthiness of Sec. of Defense McNamara’s judgment, and the dedication and ability of America to deliver the goods. Washington sources say that the current governmental structure of Great* Britain could topple; cause England to run to the armsl of Euro pean nations “in a fit of re vulsion against America.” Congressman Wiliam . E. Minshall, (R-Ohio), let the cat out of the international bag recently when he took the floor of the House to again protest any further procure ment funds for the F-111K (TFX). Quoting from an article by Eliot J anew ay, noted econo mist, which appeared in the London Daily Express, he said that the TFX was “Con ceived in political sin, dogged by budgetary scandal, stalled by flying failure, (and) . . . has now risen to the level of an international incident.” The chagrin stems from the fact that McNamara sold Britain their modified version of the TFX, to be known as the F-111K as a brand new air fleet to carry out their own world-wide air defense com mitments. But Britain’s “K” model requirements of the F-lll exceed our own modifications reflected in the “A” model and caused one expert who has . been watching the devel opment program to comment: “I seriously doubt if it would get off the ground if the RAF attempted to load it as originally planned.” He added, “The central fault of this warplane is it is over weight and underpowered.” In layman’s terms, that means it has zero dependa bility and a glide angle like a rock. Janeway, referring to Mc Namara’s former association with Ford Motor Company echoes the phrase the fighter is a “flying Edsel,’. a term which seems to be catching on among the British breth ren. And he claims that McNa- Mara sold England on the deal for a new F-111K air fleet of 50 in order to lower contro versial skyrocketing costs. Part of that_ deal, says Janeway, was that McNa mara promised to cover Britain’s TFX costs by pay ing her more for other de fense business than we were charging her for the air fleet. An offset in this area was a “boats f o r Britain” deal which was later knocked out of the budget by Congressman John Bym (R-Wis.). ON NOTICE Then Janeway comments: “He put England on notice that an American adminis tration which cannot com mand the confidence of Con gress cannot be trusted to make good on its interna tional commitments.” Janeway observes: “For months, the answer to Eu rope’s question about England has seemed to depend on the performance of the English economy and on the skill of English diplomacy. “Now suddenly, the TFX affair has taken the decision out of Harold Wilson’s hands in England, and out of Lyn don Johnson’s hands in Amer- ice. What Europe sees as a political fluke, what England resents as a political mess could quite possible throw England into Europe’s arms in a fit of revulsion against America.” Lights are burning late along embassy row, accord ing to Washington sources, and the topic of the conver- Prayer and love are two of the most powerful forces in the world today. Don’t sell cither one of them short. Many modern miracles are being wrought today by prayer. I’ve been privileged to have part in many of these during my 40 years’ ministry. In illness you can give your doctor no greater sup port than by faith and pray er. The power of united prayer for a sick patient is tremendous. An example of this is before me now in a etter from Moorestown, New Jersey. I was recently in the adjoining town of Riverside conducting a four-day semin ar on prayer in a church there. During the course of the seminar I united with several in prayer for some who were ill. I put their names on my prayer list. Here’?, a report on one: ■1 had such wonderful news for all of us who are good friends of Russell—’ that I had to share it with you. Yesterday, he and his wife went back to the Uni versity of Pennsylvania where he had been given 35 X-ray treatments during Au gust and September, and ♦hey were amazed to find no | obstruction of the esophagus at all. His illness had been diagnosed as a malignancy in the throat.) j • Ti.n sure I had told you j ’hat Russell was a man with ! r- lot of faith and he had told us even in the hospital that | he could feel all the prayers ! that were offered in his be half. 1 know of many people There is more concern that who were praying for him Hassle England, because of its own internal pressures, could well constantly. We are all so sation on the cocktail circuit is not necessarily all con- very happy for him.’» * . ... . , While conducting the sem- be on the verse of d.vorc.ng inar , hart urged the church itself completely from the form a large prayer group TFX commitment. That will ' n the congregation with a cause international entangle- number of smaller groups in ments. larger circle. Her letter Washington veterans re- con,iniu ' s - member a similar hassle of "Our prayer group, which not too many years ago when 1 understand is to be named the Skybolt, Amerncan made j ^ Bishop's Prayer Group, air-to-ground missile then : Bita'h d more than 50 names undergoing development, was- a week aeo. and I’m sure it likewise sold to England as' !S more than that now. We the answer to her defense- have hopes of it being offensive prayers. a v r v effective group in the life of our church and com- SKYBOLT ABANDONED munitv. as well as the world Then America abandoned ’ around us.” ; ^ the Skybolt program saying Every church should form the missile had proved loo such a prayer group. It takes costly and too undependable—-1 ( pgan /ed effort, Here are cerned with the coming White about the same words critics | simple rules: One individual House wedding. of the TFX are using. v th : n the congregation, it EVERYDAY j COUNSELOR By DR. HERBERT SPAUGH may be the pastor, receives prayer requests from mem bers of the group in the con gregation. These names are listed, perhaps, by given name only, and the objective of prayer. This list is mailed monthly to members of the prayer group who agree to* set aside a certain time each day to pray for those who are on the prayer list. Smal ler groups within the larger prayer group who are on the prayer list. Smaller prayer groups within the larger group may meet from time to time for intercessory prayer and Bible study. The larger prayer group may meet occasionally, perhaps quarterly. The size of the group will not determine its effectiveness. A special telephone com mittee may so organize the members of the larger prayer group that emergen cy calls for prayer may be relayed promptly to the prayer circle. Take this idea up with your pastor and assist him in forming one in your church. For years we have had an Everybody Counselor circle which issues a list each month. You may join it by writing The Everyday Coun selor in care of this news paper giving full mailing ad dress, including zip code and your prayer time. My Neighbors * m £ m *T think I’ll just wait ’til it comes to me—maybe I’ll be another Grandma Moses!” TAKE THE WORK OUT OF WASHDAY... ELECTRICALIY An-electric laundry is a house wife’s best friend. Just pop dirty clothes in, push a button, and out comes the clean clothes.' So simple, so easy, it makes washday a pleasure. Mn (£) NRECA Laurens , i ’ . \ Electric Cooperative, Inc. ■i