The Clinton chronicle. (Clinton, S.C.) 1901-current, March 28, 1968, Image 10
Elephant Joke
Babson Forecasts Good 2nd Quarter
\ w r movo toward the
(prirnu; ot the second quar-
ei ’he economy is generally
vImoil; dross National Prod-
act has shown yood gains
'hinny the three months now
ending, as have employment
end personal income, though
'e'terment did not reach oar
er mnyuine expectations.
Looking ahead into the
\ pr .1 unc period. we per-
ei ivc signs ot additional gains
or the nation's business.
:'i opelled in still rising mili-
• an prucurcmcnt lor \'iet-
n an, n/able overall de-
■cine i cquirements. and hea-
\\ tederal and other govern
ment spending, economic ac-
'.\it\ (iixunises to move mod-
10—THE CHRONICLE, Clinton, S. C„ March 28, 1968
- TM! t'
A tmduT
\'\u
;■ supporim
g lac
■tors eit-
i d .ibove u 111 liki'h
he aug-
:
cd h> 'till
more
hullish
,ti t, \
:!> Ill the
indus
try and
13
u t • i
maintained
to
possibly
-•
< h n r
uhat iirmer
i )\fr-all
: *>!'}{)
rm.miv m
other
parts of
A
: hr
p mv V st'
rtor
of the
t' t' ( ' IH
> m\
!' '
put it another
way, on
■k.
L li.iru'e sicond
quarter busi-
5
'hould he quite good, im-
\]
PI' 1 \ i
ng on the
performance
UJ
X
' ’■ u 11 k
ed up m
the
period
IH'H i
Iran mg to
a do
so But
’ ! U' !'
ate ol mei
•ease
seems
U)
MV,
i to slow
more into
1
; M ■ 'P
>n o midvt
■ar tip-
vj
p: 'Git.'
he'
Ah
\ 11
! IN AM
The
war in
\ ictn
.an and our
milit
ary and
curs. A tax boost would push national security expendi-
tax-exempt interest costs turcs predominating, when
U 'rui.' |-./\i , i the Central European Bank
1 H E DOLLAR — 1 he na- ,, , . , . .
tion’s continuing gold drain ‘' rs hk ' w ,he wh,s,kv Sl)( ' ml
and unfavorable balance In ^ at a " levels ot govern-
ot international payments are ment will still enter new high
extremely serious and will ground, pushing the annual
pose new challenges to the rate close to the $200-billion
government and to the econo- mark. However, foreign
my itself over coming aid funds will be further cur-
months. There will, however, tailed by Congress; and new
he no devaluation ot the dol- federal programs enacted m
lar and no boost in the $35- to law to help cities, advance
per-ounce price ol gold in the education, and promote en d
second quarter. rights will not appropriate
TAXES In the wake of anywhere near the amounts
the gold crisis, the interna- which advocates ol these
tional bakers are insisting measures arc presently pres
that LB.I up taxes and cut ex sin S tor.
penditures. Altho the tax sur- LABOR PROSPECTS
charge was marked for Shortage of skilled help will
death. >t could now he re- place labor in a still more
vived. If the President should powerful bargaining position
conclude that we must again vis a vis management, with
escalate dramatically in Viet- the squeeze hurting hard as
nam, higher taxes could come over-all economic activity
by midyear, casting their gathers more momentum
shadows before them However, it is well to remem
FEDERAL SPENDINC. — her that wage and price con
Uncle Sam was all set to trols are being held in the
shell out more money, with wings and will he imposed it
CAPTIVE SI GAR DADDY!
the economy should become
overheated a n d/or <> u r
balance of payment itiui
t ion i nore se\ ere),.\ t lireaten-
ed
S I R IK LS I .abut 1 w alk-1
outs ma\ not capture quite as 1
main headline in t ic sec
ond quarter ; s the\ have in j
some past periods, but they!
are sure m he lair!\ numer
ous and to cause some
upp!\ demand did icatioiis
m varinu M'etor- ol tlu-
eeonomv \t tins w ritmg, the
odds would seem to favor a
steel strike around midyear.
hut d we should move
toward allot her large troop
buildup in Vietnam with all
that it would entail, the like
lihood "I a steel stoppage
would lade and anticipated
he.iv v hedge - buying
m the \pnl .lime period
would run well below pre-amt
expeetat on -
11 L I \ 11 I \( 1 It vou' re a
retailer vour ea-h re.'isters
-hould he ringing up a heart
ening increase m dollar sales.
I low ev t r. the boost in actual
t urnov er ot good mav
amount t > not much more
than hall the gam in dollar
volume, owing to price in
eivasgs And unless vou can
manage to exercise strict
control over costs, the rise in
profits versus the first quar
ter may well he disappoint
mg.
Bl ILDIXU. AM) cm
STRLCTION — Home build
mg promises to show a sea
sonal increase over the lir t
quarter, with lower-rental
apartment units predominat
ing because ol high and still
rising land, labor, and mate
rial costs Cutbacks of
spending lor new plant and
euipment and ol appropria
tions for public buildings will
put a damper on public
and commercial construct ion.
though hospital building will
likely show a further good
upturn in the period under
consideration
FARM I’ROSl’ECTS
Spring plant ing ol barle.v,
cotton, flaxseed and rice
will he importantly expand
ed. hut there may he some
euthatfk in soybean acreage
versus a year earlier as a re
Milt ot the newly announced
regulations disqualifying soy
bean acreage for direct teed
grain payments Farmers'
expenses are still pointin'. 1 ,
strongly upward For the
three months just ahead,
their gross income should
show better gams than m the
lirst quarter, hut the hood m
net will not keep pace
Write Arkansas Congressman
( hi
M L ! .
( Up’,n 1'
tit \ er-lt
v w i! ]
\V(
think he sh"';!
• '' (I !"f
la'll"!
a 1
: !1 'A ‘
Wf. '
ging a
his
:rrent !'. ■ 1 ’ . . a 1 '•
:: "'a-
i let el'
! i; i! a • i
', ” !e .1; i"
e ' a . | ' '
thi-
tax
in. r ’ Xl St ■ a, 1 * ; ■
: , •,• • jj
nati"i
['a t , "!i
i | 1 > Y
in ft
‘i 'era i -pending'.
( T-l
1 )i - " 11 A I
! a■ at;
: "Pa 'far
V ( il >('-
M
Ill- huts the !■"" "f L
'•""I t IlH
t (it'a i
(let f' ('
’" ' >. R*
'in W illi
ur 1).
ai im
/
/
/
!' 1 l.utt-
Mills
"i Ar
,:L -. '. aha
irman n
f the
led i
in ■ n h.s a.»mm'’ t e( a :.
!'( l.illPg'
\\av>
an.i M.
■ati' i "mm
.’tee.
just
that, tr'/iipg' tn ;
" -pending
In annnnreitm *
orarv lire ft''-, i
speri 1 \ s i eiisi u
Milis aw a Li. it ht-r
lie is eha 1 rL!aII I d T
rei ijiients of hop-
.si.n .d'fieials dii‘n't
- for making the
: flail the fact I hat
he \\ av' and Means
< omnntt
toy no (itht*r reason.
A Salute
To Young People
What's wrong with LhIhv's voting
cuts. It isn't t-.,-
siieh a stand ag.
tion 'nut Mills !' dt
is in t he rig ht an in
vv t le a iso eoll \ ill.
is right and we fe
successful. Witt
administration’-
do little to stahili/e tht
otnv. President Johns'
we cah stij)potT"hoth"
o t a n e
-t , a-
n e
it.'
la']
i 1 spt I ,
i r * a \
l flat
O 1'igf
Mills
- are
he
w il!
eei m-
d
it t
pn po
nat ion
's elit f that
errant 'll’ -
pei m!e
:::" -1 "f them, no’lung's
u e ear. -Uj
pert •
d’.s and out-
u ping.
the econo!
iv an ;’
! ; be h c aif: 1
Thev
re a!
sv gro'.vmg u)4 a-nd 1‘eaeh-
again until
some ret. ; Mir
:;ug na- l.eetl
ing \ ari
"U - it
■, - "f mat urity. The ini-
i it ine.
mtiture
ei 'ell
get iindeser\ed jiuhlieity
Editorial
writ t!'- ('!’«
•n emoui’age
for sop
e o;
their stunts or troubles
readers to
write >•' ’h* r
• • mgressnien.
hut tlie
. it he
r ' mg people fill - ox er-
This time.
we em n i r.. g >
. - , ’o wfite
shad' iv
t hen
ill aacomplishments and
to Arkans;
S C( Ml g rc.-s ’! u
tn. Rep. \\ il-
in getting ;
sound basis for tidult-
bur I). Mii;
-. He's Ipg;
■. ;t Lit; t !e lor
hood.
the eeollotl
\ v\ :. i« " lur ,
iuid clot ties
o memie involvement in
'
^ Southeat Asia will dominate
Washington trends in the i
'Coming quarter While a ces- j
sa’ien of hostilities is widely |
desired and eagerlv sought by
a number of other govern
ment-. as well as our own, the
le -.pee 11 v e positions of both
-ides have hardened since the
: No; th Vietnamese l et offens
ive which resulted in such
i liravv casualties to all eom-
1 oatant' Reluctantly but res-
L.ittlv. the President will
I'obahly move toward some
lurther buildup of military
'tnmgth. hut in the second!
quarter he w ill not approve I
mv where near as large an es-
ealation as the generals are
i rported to he urging.
( MONEY AND INTEREST!
RATES — We foresee some
tightening in money, hut eer-.
’amly no massive crunch.]
However, the Fed has moved
to tighten availability moder-
j»aUly and this will put up
ward pressure chiefly "on
dinrt term interest rates.
Long-term rates, on the other
hand, will likely change little
as a further slackening in
business expenditures for
new plant and equipment oc-
Personnel Problems,
World Problems
T !
K
Wei) ! i K e to
to t he Th' d'nw i
t"n 11 igh School'- 11
The Thortv ed Kt
leadership "• ..duh
and Peose 'ioimg,
organization. It
jilaee for the ' ar<
vement Pep'" 1
Kte Wig elecfe
governor.
The Thornw*
many projects
contributes to
our hat this week
< !uh and to Ulin-
hel” Meadow.-.
< Tub, under the
Dick Templeton
;t very active
recently won first
hnas in Best Achle
nd the club's Pat Me-
1 m . isionid Lieutenant
your tamily.
and em oui'iig'
lb
• 'ipport
Can This Nation Survive
Welfare-War Onslaught?
1 Key Club sponsors
during the year and
numerous
worthwhile
causes. It is operated on the basis of
a civic chd) and not as a fraternity.
The Thornvell < hub's primary concern
is contribution and service to the com
munity and it is a fine training ground
for citizenship.
Clinton High School'- Meadors is to
be congratulated on being named Lau
rens County's STAR Student. 1 he
Chamber of Commerce sponsors the
STAR Student program, aimed at foc
using attention on outstanding young
people who are well-rounded students.
Also honored in the program is the
STAR teacher and Meadors selected
Miss Francis Shealy for that honor.
Miss Shealy is a highly competent
teacher and her honor is deserved. It'
must be particularly gratifying tor a
teacher to be selected tor such an hon
or by an outstanding student.
Spring Fever
If the entire United States had
year-roumjl weather as beautiful as
that we’ve had recently, this probab
ly would be one of the most backward
nations in the world.
How can you get anything done in
such beautiful weather?
If it were like this all the time, the
world-famed American drive and en
thusiasm probably would be limited
only to the golf course. And American
ingenuity would be saved primarily for
ing fish.
Job Opening
It ha« been n-ve.bed that M'U.r'ipoli-
tan Opera star lamer Mei - n‘! t reated
a near crisis when h'- vva- invited t<.
entertain at a blaek-t *• dnitrr in hunur
of Prime Minister Harold W il-on at
the White House recgtly.
Britain has her troubles, to be sure,
but they aren't an O ’■ing to kid about
at 160b Pennsylvania Avenuef Alter
all, Mr. Johnson and Mr. Wiron have
a great deal in common, thing- like an
adverse balance of traoe. mounting
debts, strikes, socialized medicine,
growing welfare rolls, itv rea-mg faxes
and a shaky currency.
The crisis arose w hen a \\ hife House
functionary noted that Mr. Merrill’s
musical program tor the eviw.ing' was
sprinkled with songs which could be
interpreted as veiled letcrenees to Bri
tain’s current problems of shrinking
currency and territories and implica-*-
tions that the former rolonial giant-
is actuallv dependent upon this expand-
Could any other interpretation be .
put on a musical program of such ;
songs as “On the Road to Mandalay,”
(where Britain isn’t any more), ”1
Got Plenty o’ Nuttin’.” (which qualifi
es as a Socialist theme-song), and
“You’ll Never Walk Alone,” (which,
Britain hasn’t been able to do since
the Socialists took over). The lesson
of the incident'is that the time has
come for the. President to appoint
some relative of some hard-working
political hack to a new post of Under
secretary of State in charge of Pre
vention of Embarrassment of Visiting
Foreign Dignitaries by singers, musi
cians and dancing bears. Otherwise,
who knows what head of state paying
a call to pick up his aid check is going
to be embarrassed enough to stalk out
in a huff without it. ’ -
Bv IMF. CHRONICLE’S ^ that our State will
Capitol News Bureau cant relict from the textile
COLUMBIA — Cost infla- import problem,
tion. price inflation, the' ‘BORDER TAX’
squeeze on profit margins,] protectionist legisla-
I ur massive tederal
, , , , . deficit, t j on b ein g promoted bv our
high interest rates and a vul-
notable position for the dollar legislators in Washington
:n the world briefly describe will probably not be passed,
he economic condition of our' Instead, we can expect to see
nation today.
The question must be asked;
get sigm the effect upon the State as a
whole, its business communi
ty and the individual citizens
It looks like-belt-tightening is
required, but intelligent
planning could soften the
blow.
DR. Ill RBI RT SPAl C.H
World problems are com
pounded from persona! prob
lems I wholeheartedly agree
with tlie position taken by the
evangelist. Dr. Billy (Iraham,
that the wav to eonvort socie
ty is to conv ert the man who
makes up soeietv .
There is an old proverb
which reads. "If there is
righteousness in the heart,
there will be beauty in the
character It there is beauty
in the character there wall be
harmony in the home.
It there is harmony in
the home, there wall be order
in the nation. 11 there is or
der in the nation, there will
be peace in the world.”
Most of our problems today
stem back to the individual
and t he home from which he
came Here the problems are
varied: not enough love; too
-mother love; not enough dis
cipline: too much discipline.
To these we might add the
family automobile, according
to Dr Morns Fishbein. editor
ol the Medical World News,
, the largest circulated medi
cal newspaper in the world.
He had traveled more than a
million mile- himsel! to at-
tend medical meetings and to
make speeches, but he consi
der'' the "mobility and
speed ' of our civilization to
be a "highly contributing
factor'’ to the breakdown of
the American familv
When I was a boy.” he
said. "Wu read and talked
and -at around home after we
finished supper. Nowadays
what happens'.’ After supper
it's away we go to Hat in ,
dancing and destruction ■
There is no question about
it but that many American
homes become little more
than cafeterias by day and
dormitories by night
Police say that many of
our large apartments in cities
are meccas for thieves dur
ing the daytime and often
late into the night, beeaus ■
the occupants are never
there.
Is there any wonder that
the moral and- spirtual char
acter of our nation is de
clining'.’ When we remember
that character is caught, not
taught, and the place where
it is supposed to tie develop
ed, the home, is disintegrat
ing, we can discover the basic
cause for many of the world's
problems today. It has been
said that the family which
prays together stays togeth
er. works together, is the
family which holds together.
When I read news reports
of teenage rampages of des
truction. I can't help but
wonder about what kind of
homes they came from.
A Charlotte TV station in
cludes in its 11 p. m. station
break the question "Do you
know where your children
are’'' I might add. "Do you
CARE where your children
are 0 ”
You may write to the
Everyday Counselor in care
of this newspaper enclosing a
long, sell addressed. stamped
envelope and twenty cents for
a copy ol my Home Series.
(Reprint articles No 33. \o.
54. No. 125. No. 149 No 180
Can our nation's values and
perhaps even its liberties sur-
a nominal “border tax’’ of a
few percent on imports gen
erally across the board that
will have minimal effect.
\ive intact under the twin! Various percentages have
onslaught ol welfare and been mentioned that range
uar " from 3 percent to 15 percent.
Defense is costing the tax- Normally a compromise in
payer the staggering sum of this range would be about (j
nearly $80 billion a year. Ev- to 7 percent,
cn this appears to be low) as The “border tax” approach
an additional supplemental seC m S to be favored by Con-
budget request is being pre- gressman Mills, Chairman of
dieted for fiscal year 1968 of the House Ways and Means
at least $5 billion. The fiscal Committee. It is also Mills,
year 1969 budget also appears Chairman of the House Ways
inadequate and it hasn’t even an( ] Means Committee. It is
passed the Congress. a i so f av ored by the State De-
Vietnam alone will have partment since it will have
cost more than $75 billion in the least impact on our for-
the fiscal years 1966-1969. Ev- eign relations with other na-
c n more important,, these fig- tions. Although it would bene-
ares do not reflect the cost in i fit President Johnson to have
dives. various forms of protectionist
Should the war end tomor- legislation passed during an
■ row, defense costs will contin-j election year our fiscal crisis
ue to be high to replace the * s serious enough that he
.extreme draw down in sup- must compromise the politi-
plies which has taken place.
It is also too apparent that
an incident could blow up in
to a major conflict through
an incident could blow up in
to a major conflict through
an act such as the “Pueblo”
incident. There is also in
creasing concern over the
.increase in the Soviet con
trol of the Mideast.
Our nation is becoming in
creasingly burdened with
largely ineffective welfare
schemes. The fiscal year 1969
budget has enlarged this area
of spending even while the
war costs have increiried.
cal for the practical.
Recognizing that the textile
industry accounts for over 70
percent of the income in
South Carolina, any act that
would cause a decline in the
textile business will naturally
effect the States’ overall
economic well-being. The
impact, therefore, would be
across the State as a whole,
not just the textile firms.
Although Governor McNair
has submitted an austere
budget, he did not anticipate
a reduction in receipts which
b4 brought about by a
•ecUne Kn textiles. There is
South Carolina is and wilj al*o insufficient information
continue to feel the effects of 1° h ow h® handled the in-
this fiscal irresponsibility ob- nation problem if it was con-
viously the citizens of our sidered at all.
State will be pinched in their Th* business and govern-
pocketbooks by inflation, meit^ ’sectors in our State
Mom
Ih* /ow-cost
bills
to
or s<
or s**d
BUY MONEY ORDERS AT
M. S. Bailey & Son, Bankers
Established 1886
Member FDIC Clinton, S. C.