The Clinton chronicle. (Clinton, S.C.) 1901-current, December 25, 1969, Image 10
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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
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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. ;
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