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,vf .I:.**-.!',’iv. V, 5 •'.rxcr'Mjrt,-’ f-' • r., a : ;•'•••• ^ ; 'l )$$&**• A Merry Christinas To All Santa BY THURMAN SENSING Executive Vice President ; Southern States Industrial Council In approving higher personal income tax exemptions and in voting to nearly double minimum play Santa Claus vlth the Ameri- Social Security benefits, the U. S. Senate sought to present itself as Santa Claus to the taxpayers of the nation. However, it was a poor impersonation of Santa. Perhaps some citizens thought they were getting genuine Christ mas cheer when a majority of the Senate voted to increase the per sonal income tax exemption from $600 to $800 and to boost the minimum Social Security pay ment from $55 to $100. Everyone likes a handsomely present, but they don’t especially enjoy a Christmas package they have to pay for themselves. And that’s the situation the taxpayers will find themselves in if the in creases are approved by a House- Senate conference committee. No doubt Mr. Nixon would like to be generous at Christinas time. It would be good politics to fa vor the big handouts voted by the Seante. Fortunately, Mr. Ni xon knows that the man in the White House isn’t supposed to can people. Like the head of a household, he has to worry about how the bills will be paid after the holiday. The’ p^tsotud income tax ex emption bike was the project of Senator Albery Gore (D-Tenn) who is up for reelection next year. Apparently he has special reason to masquerade as Santa Claus. Senator Gore, however, isn’t being generous with his own money. Instead, be is imposing a new burden on the taxpayers. Mr. Nixon has pointed out that the kind of increase favored by Sen ator Gore would result in a re venue shortfall. Some time ago President Nixon recommended a 10 per cent hike in Social Security payments which would take not of the im pact of inflation on Social Se curity beneficiaries. But the vir tual doubling of payments is a far cry from the 10 per cent favored by the nation’s Chief Executive. The government can’t afford a so-called shortfall. It has to pay its bills. And if tax revenues aren’t adequate in the year ahead, taxes will have to be raised la ter on -- after Senator Gore’s election contest, which is con venient for theSenator from Ten nessee. The Social Security increase raises the same issue. If en- help* indi- CHRISTMLAS IS LOVE Christmas is a universal holiday. Christmas is a great reality. Around this reality, men of good will have added much tradition and, perhaps, a fair amount of legend. Yet the reality of Christmas remains unchanged. Some nineteen hundred and sixty-nine years later, the story of the First Christmas, the clear vision of the Holy Birth at Bethlehem keeps constant the spirit of abiding love. Many Inspiring words have been written about the proper keeping of Christmas. The spirit of love permeates these famous words of Henry Van DyWe: " It is a good thing to observe Christmas Day. The mere mark ing of times and seasons, when men agree to stop work and make merry together is a wise and wholesome custom. It helf one to feel the supremacy of the common life over the vidual life "Are you willing to stoop down and consider the needs and desires of little children; to remember the weakness and lone liness of people who are growing old; to stop asking how much your friends love you and ask yourself whether you love them enough; to bear in mind the things that other people have to bear on their hearts; to make a grave for your ugly thoughts and a garden for your kindly feelings, with the gate open — are you willing to do these things even for a day? Tnen you can keep Christmas. "Are you willing to believe that love is the strongest thing in the world — stronger than hate, stronger than evil, stronger than death — and that the blessed life which began in Bethlehem some 1900 years ago is the image and brightness of the Eternal Love? Then you can keep Christmas. And If yqu keep it for a day, why not always?" We leave you with these thoughts and our very best wishes for a Merry Christmas and a Happy New Year. LITTLE MAN-BIG HEART Last October, the Arlington, Texas, Citizen Journal pub lished a "‘guest editorial” by nine-year-old Todd Laney. It read as follows, including some slight fourth grade style errors: My Country “MY COUNTRY means a lot to me and the flag with the red, white and blue. ^ “I want to serve my country well. Our country is ‘ storng (strong) and good. I am glad I live in this .j, beautiful land. I like the trees and plants and every other living thing in this country. God has anesewered (answered) our prayers. I will fight for my country **' even if I am hurt, I will fight until I die. “As George Washington said: We will fight for freedom. - *# ^ “Sense 1 was a little boy, 1 have anored (honored) my country. Now I am a Cub Scout.” LV There was much response to the little man’s editorial. But one in particular will long be remembered by the pint-size author. U read: 91 “I am Sgt. Mincher, and I have been in Vietnam for 10 Calif. Savings-Loan Making Good Recovery months. Arlington is my hometown, and 1 get the hometown f^per sent to me over here. .3 “I read the theme you wrote, which was published in the Citizen-Journal on October 23. It really lifted my spirits. With all the protests going on back in the states, people are destroying the morale of a lot of soldiers and it sure was good to know we still have people like you back in the states who realize that our way of life and our country is worth dying for. “We’re sending you our patch. This is our Brigade Patch, and we’re joining you up. OK? You’re now an Infantryman with the 198th Infantry Brigade. Of course, you’re not old enough to be here with us, but you’ve got the courage for it, and you’ve won the respect of every soldier who has read your theme. “I’ll close for now. Keep up the good work, and keep up the ideas you have about our country. It’s people like you who’ll be running it someday. “With great gratitude and respect, (signed) Sgt. Curtiss R. Mincher and the men of the 198th Inf. Brigade, Che-Lai Vietnam. “P.S.-I couldn’t find a new patch, so I’m sending you the one off my shirt. It’s been through a lot of jungles and rice paddies, and ifs kind of worn, but it stands for a great fighting brigade.’* We doubt if Todd would have wanted it any other way. •BY BABSON’S REPORTS INC. WELLESLEY HILLS, MASS.- |After weathering a series of set- jbacks during the mid-1960s, the ‘California Savings L Loan indus try has been making a substan tial recovery over the past few } years. Despite the burdensomely )tight money situation, the indus- •try seems well positioned to a- Jchieve further significant gains ;over the period ahead. Some {easing of interest rates during | the course of the new year should ‘allow most of the Savings & Loans {companies to register improved [earnings again in 1970. Moreim- jportantly, the pent-up demand for ! housing should result in continu ed growth through most of the new decade. THE DIFFICULT YEARS Let’s look at the causes of the Savings & Loans running into troubled times in the mid-1960s. First, housing in California be came over expanded, and most companies consequently became heavily burdened with fore closures. This resulted in lower margins as expenses and losses on resales mounted. The credit crunch of 1966 created even greater burdens. Margins came under pressure to an even more marked degree as the interest paid on savings was increased. The industry’s liquidity became impaired as savers withdrew funds for investment in other areas at considerably more at tractive yields. As a result, hous ing starts in 1966 reached a 20- year low in California. PERIOD OF MARKED IMPROVEMENT In 1967 and 1968 the industry made significant and encourag ing progress in recovering from the depressed 1966 showing. By this time the temporary housing surplus was quickly vanishing, and demand for living quarters was once again on the upswing. Foreclosed properties were be ing liquidated, and at more fav orable prices; new foreclosure rates began declining steadily; the interest rate paid on savings was lowered; and the industry a- chieved a far better savings flow. By the end of 1968 earnings for most companies revealed mark ed betterment over 1966 results. INCREASED EARNINGS In spite of tight money, which has resulted in an adverse sav ings flow during the second half of the current year, most Sav ings A Loan companies reported a smart gain in per share earn ings results both for the third quarter and for the first nine stined to continue clouded until there is at least some easing of interest rates, the long-term out look definitely favors substantial growth. The current housing shortage, the projected need for a great deal more shelter in the 1970s, increased lending powers in the rapidly growing mobile home field, and new guidelines by the Federal Home Loan Bank- all paint a bright picture for the Savings A Loan industry. A busi ness slowdown (which appears to be slowly emerging), especially coupled with significant progress in concluding the Vietnam con flict, would do much to ease in terest rates and clear the path for the foture of SALs. " ‘ RECOMMENDED BUYS At current levels, and despite the probability of still further general market weakness, the re search staff of Babson's Reports recommends that aggressive in vestors purchase at least a few selected issues in the Savings A Loan field. The common stocks of such organizations can be ex tremely volatile market per formers. As such, they offer op portunities (to those who can af ford to take the risk) for sub stantial market appreciation. As of now, Babson’s research de partment favors the purchase of First Charter Financial (the largest publicly held Savings A Loan holding company) and Gi braltar Financial (which has in creased its savings base via re cent acquisitions). Support Arts Program Dear Editor: I have received word that Pre sident Nixon has sent a special message to congress requesting a new three-year authorization and a $40 million budget for the nat ional endowments on the arts and humanities. This proposal would approxi mately double federal funding of the arts in South Carolina, to $70,000. Our children in Laurens County Squad Answers Letter NOTED AND PASSED Hunting Big Game It is apparent that many people have months of 1969. Earnings bene noticed the ability of Vice President Agnew in going after big fited from a further reduction of game and approve of his efforts. A fan club has been formed by June Ornsteen of Gladwyne, Pennsylvania. The organization is distributing bumper strips with a picture of a tiger and the club name; SAFARI-Spiro Agnew Fans and Rooters Institute. m vSV:- Vf‘V Dangpous to whom?-. The Federal Trade Commission ;; ' ^ “ J in those see-througi blouses the same time a year earlier in most instances. foreclosures at favorable prices; re-investment of mortgage pay ments into higher yielding cur rent loans; and a more flexi ble posture on the part of the Federal Home Loan Bank. Re sults for the foil.year should be well ahead of foe level for they I So in typical government IHfltning: “This fabric t a bit vagpe though; @*ir' ? iaagp?. .. •; •' ’ A BRIGHT FUTURE Although foe near term is de- The Editor: Maybe we can explain what we were trying to demonstrate with our demonstration in the Christ mas parade. We cannot agree with some of you that our demonstra tion did not have a place in the parade. If trying to make the public aware of safety and encouraging them not to let wrecks take the joy out of Chirstmas, maybe we were wrong. Have you ever thought of how many people are involved when an accident occurs, such as the one demonstrated in foe parade? Here are only a few- - - the Highway Pa trolman or police, the ambulance attendant, sometimes foe rescue squad, doctors, wrecker service, nurses, funeral home personnel, insurance personnel, lawyers, and many others. All of these people have families, too, as does foe victim. You would be sur prised at the number of people who leave the joy of Christmas at an accident scene at this time of the year. Our demonstration predicted foe past, present sad future of whet Is to come, what bssbMB and what will be ftPtb* public is not made aware of this, tf our demonstration win parson to suv, dovp sad think wist could happsn—and maybe life—itwouMbaaw can colonies. 2-B—-THE CHRONICLE, Clinton, S. C., Dec. 25, 1969 have already benefitted from the childrens’ concerts sponsored with the cooperation of the South Carolina Arts Commission and the Laurens County Fine Arts Council. I strongly urge all concerned individuals to express your views on this important matter to the President and Congress. We must foster greater participation in all the arts throughout our state. Sincerely yours, Edith Cook, Member S. C. Arts Commission acted into law, foe proposal would cost an estimated $6.2 billion. America’s working people al ready are feeling foe oppressive effects of Social Security pay ments. More and more money is being taken out of weekly pay- checks in order to provide So cial Security recipients with re gular payments. Nowadays a working man may get a raise in pay — only to discover that higher SocialSecurity costs leave him with less than he was earn ing before he received a raise. The latest $6.2 billion proposal would extend that unhappy experi ence to many, many more work ing people. Senator John J. Williams (R- Del) has said that the spender majority in the Senate has turn ed the tax bill into “a Christ mas tree/ The spenders may be disappointed, however, as the tax-paying public is increasingly sophisticated. Fewer and fewer people these days believe the old liberal propaganda that the federal government dispenses “free” benefits. Nowadays, the majority of peo ple subscribe to a more realis tic view of economics. They know that every handout from govern ment has to be paid for by the taxpayers. In state after state there are taxpayer rebellions. Taxpayer associations are crop ping up in many cities and coun ties as concerned citizens de termine something must be done to bar additional tax burdens imposed on them by giveaway- minded politicians. Thus the Al bert Gores in politics may find that the giveaway promises of yester-year don’t fool a new gen eration of working Americans. The “silent majority’ in the United States isn’t concerned ex clusively with foreigh affairs. The “silent Americans,” or one might call them the “fed up” Americans, also are aroused about the waste of the taxpayers money and about the nonsensical liberal thinking that equates handouts with prosperity. Millions of working people re ceive — along with their pay- checks — itemized statements which show how much of their earnings go for state and federal income tax and for Social Se curity. The cians aren’t 1 can look at the list of deductions and see how bigger federal pro grams and various government giveaways result in a reduction in take-home pay. Everyone would like a tax cut, and many people would welcome higher Social Security payments. But they don’t want these things if the price means higher taxes in future and a severe cutback In the weekly paycheck. Senator Gore and others who voted for the latest giveaways are likely to discover that people today are fiscally well informed and will welcome a presidential veto of a tax bill that doesn’t make sense. Parson lones Says Nobody Heard The Angels Dear Mr. Publisher: I had a horrible dream last night. I dreamed it was Christmas time and a Savior was to be born. First off, the angels came to announce the event. They tried to do it from the sky, but nobody heard it, cause everybody was watching television. The angels then tried to get a couple spots on the TV tube, but the Dizzy Beer Co. had bought up all the time. They asked about getting news coverage, but all the re porters were covering a riot. They finally had to settle with get ting the: announcement i the class ified ad section of the newspaper. Then the day came for the Sav iour to be bom. Mary andJoseph had drove over to the county seat to register for the election. Their old car broke down and .fo^y^had to mall: .would accquntJafcbfeing a hold-up.) When they finally arrived they were wore to a frazzle and Mary was be ginning to have pains. Well Sir, Joseph begin stopping at all the motels for a room, but they were all filled up. There was a con vention in town and there wasn’t room for a midget left. My dream didn’t tell me whether this was a club convention or a church convention, or what - so, I don’t rightly know. Finally Joseph and Mary wound up at a used car lot where they crawled in an old oar for the night. The pore little wo men had her baby right there. The angles from Heaven were already on their way to report the event, but the air polution was so thick they lost their way and had to go back home. It was sad, Mr. Publisher, there Jesus was in an old car. and nobody knew about it. There were no shepherds and no wise men. The convention was going full force and the TV tube was brighter than the star over the car. When I woke up I sure was glad it was just a dream. Course nothing like this could really hap pen. I’m just gladJesus was born 2,000 years ago cause we’ve got too many hang-ups today. Well, I’m gonna have to sign off for this time. I’ll have to think about that dream a little more. Maybe the Lord was telling us not to be so all-fired tied up with ourselves, and to stoppush ing off all our old junk on‘him. Merry Christmas and A Happy New Year. Parson Jones the criticism in the world today. Our parade slogan—“Give speed a break, slow down and live” —could be wrong. It is not the speed along that kills, it’s the sudden stop. But go back before the sudden stop; what has happened to cause it—could it be that a nut at the steering wheel has come loose because it hadn’t been tightened down before hand? We are glad to be criticized as well as praised. In this way, it shows that you are interested in what is going on. If we misted you in any way or have taken a little joy from you, it was not intended that way. Our little de monstration was trying to say that we want you with us next year. * We hope that everyone will have a Merry Christmas and a Happy New Year. Members of foe Laurens County Rescue Squad expression s ungin ’ The expression, “two bits,’ cranes from the days when the ~ If you give up Cigarettes, you might gain a few pounds. i v* The plain, unfiltered fact is that people who smoke cigar ettes get iung cancer a lot more frequently than non- (And alto a few years.) We’d ratherhave you stay twooldtje worth «H ter was cut. The coin could be or '• 'v can finish alive and in good health. Be cause even if you do gain a few pounds, you'll have the tiro, to take them off. ; hSHc 1 J. ■ -<■ uni w m 'i'W BMP U&m- ’-P ■; SMi Mi Sit 'S' LOESw-a ; i - '■ v«,. :,j ; •.%: K • *\vA,vs* * * **• - PIP ,VJ: ■». ■Hil S' lit#' V - ,'V' \ .. W it . ■ »*' - iSi