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WELCOME TO ^foday is tomorrow. feSVe are only a few days into the rlH universal space age. Man has t&n that important step onto an ther planet and the world will never big the same again. ^Being interviewed on television Sunday, a noted writer called the moon landing the most important event in the history of mankind. We do not agree with that. The birth, death and resurrection of Jesus (hrist were more important to mankind. However, last Sunday’s event must rank with the discovery of fire in the progress of mankind. It will take time for the world to digest what we have learned from our magnificent moon voyage but, even tually, it will touch all of our lives. The potentials are staggering. Consider how much we can broaden our knowledge of the universe with a spkce observatory situated on the moon. Through the laser reflector which was placed on the moon, we can learn more about our own Earth, how it is physically changing. As one TV commentator, interviewing two science fiction writers, said, “I doubt if the two of you, with all of your knowledge and imagination, could compile a complete list of all the ad vantages we have gained through this moon landing.” The fact that the Uftited States and Russia were engaged in a race to the moon and that the United States won has been played down. We ap parently are trying to be gracious winners. Our accomplishment is the result of our technology operating in a system of free enterprise and capi talism. Communist Russia got the jump on us at the start but after our nation set its goals and made its com mitment to those goals, we won the nice. The fact that our system won a h0ad-to-head competition with a dia metrically opposed system is signifi cant toward the struggle here on Earth. TOMORROW Of course, there are those who are critics of our achievement. Some of them say that we should have put our space money into programs to help the poverty stricken. We are not cal lous to the needs of the hungry and illiterate but w r e have done more for them than any nation in the history of the world and we undoubtedly will do more in the future. In times of such significant progress, some lib erals become strangely conservative. There undoubtedly were other ways that Queen Isabella could have spent her money but we’re glad she chose to finance Columbus’ trip. Even so, all of us, including the poverty stricken, will benefit from the new horizons which have been opened. It is another step tow r ard the full utilization of every man’s poten tial. Sunday, July 20, was a wondrous day. It placed us squarely into the tomorrow toward which we have been moving for years. Only 60 years ago, Orville Wright set a record for the longest time an airplane had been kept aloft. It was a little over one hour. Multiply our current status by mil lions and you may get a small inkling of what the next 60 years may bring. Since this is a beginning of a new era, this would be an appropriate time for rededication. This is an opportun ity to dedicate ourselves to making this a better era than the one from which we have just emerged. It can be an era in wdiich we attack the prob lems and illnesses of mankind with the same dedication which we allotted to stepping into the new world. Each of us can participate in this better ment. The saying is to the effect that a journey of a thousand milefi begins with one step. The betterment of mankind begins with you as an in dividual. SEEING THE LIGHT Raymond Johnson is a 22 year old who proclaims that he is a lieuten ant in t h e Black Panthers. After dressing in the uniform of the lunatic black nationalist ji ^^oup, he stepped from the washroom of a jetliner, strode to the cockpit, and ordered the pilot to detour the flight to Havana. During the extended flight he struck the pilot several times in the head with a loaded .38 revolver, spat out ti rades against the passengers in the tiresome cliches that are the forte of the Panthers, took some $400 from occupants of the plane, and rechris tened the craft “The Republic of New Africa.” Now this happy wanderer is dis illusioned with the land of Castro. It lacks something. Ray isn’t free to do as he pleases. We wonder if 21 days in a Cuban jail following the skyjack ing had anything to do with it? Or maybe the restriction on Afro hair styles? Or being discouraged from talking to black Cubans? Was it the imprisonment of Panther members, the labor camp internments, the bans on party organizing, or being banned from Havana? These are things that are allowed in the capitalistic USA. Could it be that someone misrepre sented the world of communism to Ray? In contrast to Raymond Johnson, who seems to be receiving in Cuba his more or less just desserts, we would like to pass along the words of an other black man. His name is James A. Howard and the words were in the form of a letter to the editor of a Washington, D. C., newspaper. "Cooperation is not out of style. ‘Love thy neighbor as thyself’ is a vir tue of life. ‘On my honor, to do my best . . . ’ is also a part of faith. Bu as an American, Veteran, N e g r o, when I look at my television in these times of so much strife and see an or ganization such as t h e ‘Black Pan thers’, I am ashamed. May God con tinue to bless the man with the long white w'hiskers we all call ‘Uncle Sam’.” May those blessings extend to all Americans. Leaning To The Right... n M>*VA CLAVTONi YOU 60* A SAW DEAL, UAV1VJ 1 TO 60 BACK TO COUGSESS.., 11 After The War BY BABSON’S REPORTS, INC. WELLESLEY HILLS, MASS.- Although hopes for near-term peace in the Far East still ap pear to be in the rather distant future, it might be well to take a look at just what changes are likely in the economy and the stock market when peace does come. For, despite numerous disappointments in the past, one of these days a peace dis cussion rumor is likely to firm up into a hard fact, and inves tors should be prepared for the impact this will have on their investments. PEACE IS BULLISH F irst, let us emphasize that the staff of Babson’s Reports places absolutely no validity in the theory that war is necessary as a stimulant to the economy. On the contrary, the ending of the war, in our opinion, is the most bull ish thing that could happen to the stock market and to the over all economy. Naturally, an end to the war will necessitate re adjustments in our economic structure, and some war- oriented businesses will be hard put to offset a drop in military spending for their particular pro ducts. Nevertheless, we feel very SENATOR STROM i THURMOND REPORTS TO THE PEOPLE UPWARD AND ONWARD During the course of the prep arations for the trip to the moon, a number of angry critics have been saying that the voy age is a waste of tjme and money. This ugly criticism maintains that we should be spending our resources on do mestic welfare, instead of on projects that have no immediate practical value. These critics have a mistaken notion of the way a dynamic economy operates, and they fail to understand the broader reaches of the human spirit. PRIORITIES A dynamic economy is not like a purse full of change, from which a few coins may be scat tered until all is consumed. Spending has to be ranged in an order of priorities, depend ing upon the relative importance of human values. For example, national survival has always been given the first priority. A second priority must be given to the development of resources. A third priority belongs to the stimulation of individual effort and achievement. Such values are the key to the expansion of natural benefits to everyone in society. The expansion of benefits is a complex process, but it is asually known by one word: profits. This is a word fre quently used in business, but in a wider economic sense it ap plies to national achievement. Unless there is a dynamic ex pansion of investment, there are no profits to pay for benefits which do not add to the econ omy. Domestic welfare pro grams, in most cases, are a good example of static spend ing. A nation that is moving forward can put a small per centage of its profits into do mestic welfare programs, but such spending cannot continually increase without eating up fu ture capital investment. Just as a farmer needs part of his crop for seed, the nation cannot over spend for non-productive pro grams. Those who say that the $24 billion spent on the moon pro gram should have been spent on domestic welfare programs are presenting a false choice. Without the continued creative development of technology pro vided by space and related pro grams, the nation’s future would become stagnant, and all do mestic welfare spending would have to stop. BENEFITS Scientists are already count- | ing the benefits of our space activity. Some have already been | recognized in the fields of elec- j Ironies miniaturization and ; computer control. Others, less apparent to the layman, have ! been noted in such fields as medicine and geology. Practical applications of these advances will be felt by everyone. Scientists are also speculating on the benefits which are yet to be realized. If the proper nat ural elements are found on the moon, the logistic requirements to get to other planets might be reduced by 80 or 90 percent. In another application, scientists believe that the low gravity en vironment on the moon may make it possible to manufacture certain products valuable enough to make moon trips commer cially successful. There is also a potential to turn the sun’s energy into electricity at a fab ulous rate, and then transmit the power to the earth by laser beam. These speculations may or may not prove accurate. But history shows us that explora tion almost inevitably brings unsought and unforeseen re wards. Our knowledge of human nature tells us that man must continue to look outward and to risk the unknown, if civilization is to prosper and develop. It is impossible to stabilize greatness. The empires chronicled in his tory almost immediately began to wither as soon as their lead ers decided that they had gone “far enough.” The nation that looks inward begins to decay. The United States has never sought to build an empire. Our frontiers have been pushed across the unexplored regions of social organization and tech nology. Nevertheless, our ex periments in government and industrial development have al tered the course of every nation in the world. By seeking to go upward, we will continue to go onward. strongly that the over-all econo mic benefits that would be de rived from an end to the war would be so great as to spark an entirely new wave of stock mar ket bullishness. MANY BENEFICIARIES There is no changing the fact that our military operations in Southeast Asia have had a tre mendous impact on our economy. If it were not for this seemingly endless war, our imbalance of payments, the size of our fed eral deficit, the inflationary spiral, and the increasing tax burden would be far less serious problems. To get down to specifics, when the war ends the initial impact may be a fairly sharp but tem porary downturn in the stock market. Naturally, defense- oriented issues such as the aero space group and many electronic companies would probably exper ience the greatest declines. The coppers and certain other metal issues, some airline, machine tool, and rubber stocks would probably all be active on the down side. But, following such an ini tial market ‘break,’’ we would expect to see a fairly active bull market develop. Consumer- oriented stocks -- such as re tailing, foods, and appliances -- should do very well. With the ending of the war should come a decline in interest rates, there by benefiting utility stocks. Also, lower interest rates should give birth to a substantial increase in housing starts which would cause a good lift for building materials stocks and cement issues. SPENDING SHIFT The end of the war would mean that temendous amounts of money would flow into the econo mic stream. The government would probably shift its spending emphasis to education, pollution control, aid to states and cities, research and development, large public works programs, space activities, and oceanography. Unfortunately at this moment, peace does not appear to be right around the corner; the flow of funds into the war business can be expected to continue at a heavy volume for some time yet. How ever, for those who would like to prepare for peace, presented below is a representative list of stocks which look good not to the Babson’s Reports Research Staff and should look even better in a peacetime economy. National Gypsum, recent price $28; dividend $1.05; yield 3.8% Colgate Palmolive, $48, $1.20, 2.5% Lone Star Cement, $22, $1,4.5% Castle & Cooke,$30,$.60,2.0% INA, $29, $1.40, 4.8% Pillsbury, $46, $1.36, 3.0% Tenneco, $26, $1.28, 4.9% Addressograph Multigraph, $69, $1.40, 2.0% Clark Equipment, $33, $1.40, 4.2% Southern Natural Gas, $40, $1.40, 3.5% Std Oil of N.J., $74, 3.75*, 5.0% Warnaco, $26, $.90, 3.3 fnet pr»pmnd or prhiUd at gooommont * Including extra 2-B—THE CHRONICLE, Clinton, S. C., July 24, 1969 The Wreckers BY THURMAN SENSING Executive Vice President Southern States Industrial Council A nation lives and dies by the values to which it subscribes. Material things count, of course, but without the values of loyalty, faith, and dedication to national goals even the wealthiest state cannot long endure. The truth of this is much on the minds of the American people this summer as they think oi crime and disorder in the land and of the twisting and debasement of values at some of the most fa mous educational institutions in the country. The values by which the American Republic has lived are under attack as never before in our country’s history. This is the time of the out rageous statement. Whitne; Young, head of the Urban League, says that America has lived a lie. The valedictorian at Princeton University called his country sick. Harvard University per mitted an SD6 fanatic to talk at its commencement. The chaplain of Yale University gives favor able mention to the idea of in surrection. Truly, America is being un dermined from within -- un dermined by people who enjoy all the benefits of American freedom and prosperity and who expect to continue to be subsidized by the people. A band of politicians whoquestion America’s role and values seek every opportunity to down-grade their fellow citizens in uniform. Loud complaints are made when there is an ‘overrun’-- a higher cost -- in a defense program. But they don’t say a word in criticism of the endless ‘over runs* in welfare spending. Liberals angrily complain a- bout discrimination, and then do their utmost to perpetuate the 1965 Voter Act which was con ceived in prejudice against seven Southern states. The liberals ar gue for equal protection of the law in civil rights cases, but de sire unequal application of the law against one region of the U- nited States -- the South. Values are twisted on every front. While American service men are exposed to communist bullets in Vietnam, Sen George McGovern (D-S.D.) holds a secret meeting with North Vietnamese representatives and then emer ges to blast American military resistance to the V. C. and the North Vietnamese regulars. Parents try to teach their children moraJ values. Then the U.S. Circuit Court of Appeals in Washington decides that a federal Civil Service employe may not be fired on the grounds that he is a sexual pervert. Millions of Americans work hard and practice self-reliance. But in Richmond, Va., members of a so-called welfare rights organization demand $7,000 free each year from their fellow citi zens. Responsible Americans know that the safety of the American people in an age of aggression requires that the nation’s brain power be fully utilized for de fense purposes. But at the Mass- ichusetts Institute of Technology faculty members in large num bers protest against university- based defense research. They ap parently are unconcerned about the research progress of the Sov iet Union--research oriented to wards destruction of free nations. Religious faith is the founda tion of the moral order. But po litically-minded churchmen un dermine faith by urging civil dis obedience and by using church funds to sponsor groups that create strife. Witness many act ions taken by the National Coun cil of Churches, for instance. Developments of this sort have profoundly shocked and justi fiably angered many good Ameri cans. Adults see young people being exposed to hurtful and de structive influences, their taxes and their private contributions used to promote causes and fund programs that weaken the nation and confuse its people. What kind of nation would we have if the Harvard-Yale-MIT- Berkeley liberal-left mentality took root in this country, if apo logists for marijuana influenced the writing of laws, if military service were scorned and reject ed, if defense research were stopped, if sit-ins were tolerated in every local government of fice, if marches filled all our streets, and if every person dis inclined to work were given a guaranteed annual income? The answer is that we wouldn’t have a country. The American Republic would collapse. It would fall apart in an orgy of anar chism. Perhaps that’s what is secretly desired by those who twist established moral values and the decent conventions of so ciety. Time and again it seems that people in influential positions in the universities andelsetftttre seem bent on wrecking America. The wreckers must be stopped from destroying the land where in freedom and prosperity have reached unparalleled heights. Poor Relative M; Neighbors Wish I’d Said That Nothing worthwhile can ever come to the man who sits and dreams. Anything a man really wants will come to him if he plans for it and works for it. —Max Good, Webster County (Mo.) Citizen. Efforts to endow individu als with dignity through the passage of laws are a waste of time.—Joseph M. Shaw, Jr., Cherokee County (Ala.) Herald.