The sun. [volume] (Newberry, S.C.) 1937-1972, February 11, 1954, Image 2
PAGE TWO
THE NEWBERRY SUN, NEWBERRY, SOUTH CAROLINA
THURSDAY, FEBRUARY 11, 1965
1218 College St., Newberry, S. C. 29108
PUBLISHED EVERY THURSDAY
O. F. Arinfield, Jr., Owner
Second-Class Postage Paid at Newberry, Soutii
Carolina.
SUBSCRIPTION RATES: $2.00 per year in ad
vance :Six Months $1.25.
THE “SPECTATOR’S” COLUMN
How many chemists and other men of science has the
government employed in the various branches of the AEC?
I have just read in The Journal of Commerce that 1000 em
ployees have been released from the one plant at Oak Ridge.
If they have released 1000, how many have they retained?
Upon reading of the thousands and thousands of men and
the hundreds of millions of dollars being spent in this so-
called atomic research I think Edison would turn over in his
grave.
You remember the story of the Trojan Horse. How the
invading army built an immense wooden horse and left it
outside the walls. The defenders, with great curiosity, not
knowing what was in the horse, carried it inside the gates;
and then the soldiers in the big horse came out.
So I am talking about the Trojan Horse here:
“According to legend, the Trojans were strong, brave
warriors. Curiosity and gullibility led them to accept the
gift of a wooden horse, and bring it within the gates of their
walled city. Greek soldiers hidden within the horse sneaked
out at night to open the gates to their conquering legions.
Today, strong as we are, we accept the Trojan Horse of
‘federal benefits/ States rally vo the cause of ‘matching
funds* for highways, schools and urban redevelopment. Bus
inessmen press for huge federal expenditures, with no
thought for their nation’s health, only the anticipation of
financial gain for their own companies.
There are two ways in which a nation pays for such
insidious back doors to socialism . . . added taxation and
inflation. Federal taxation already takes one dollar in three,
and inflation is a proved killer of nations. Business and in
dustry must take the lead on the road back to tax sanity
and true Constitutional government. We can do it only if
we accept responsibility for showing Americans how and
SENATOR
STRO
HURMOND
Reports
PEOPLE
Dollar Difficulties—Part II
THfe RECENT INCREASE in
demand for gold, as evidenced
both by the demands of France
for gold redemption of U. S.
short-term liabilities and by the
surge in the world market price
of gold to more than $35.19 per
ounce at one point in January,
has focused attention on and
caused alarm at the decline of
U. S. free gold to less than $2
billion while outstanding short
term liabilities in the hands of
foreigners exceed $26 billion.
THE IMMEDIATE PROS-
LEM was apparently caused
more by political factors than
by doubts as to the stability of
the value of the dollar. Because
Great Britain also has a sub
stantial problem with balance of
payments, the British pound has
run into serious trouble. Actions
by the new Labor Government
in Britain since taking over have
contributed further to the lack
of confidence in the pound. The
U. S. committed to Prime Minis
ter Wilson on his recent trip to
the U. S. to use the dollar to
shore-up the pound. As a result,
we have poured large sums of
dollars into Britain in recent
weeks.
FRANCE would like to be the
dominant power in Western Eu
rope, and consequently to have
the French franc become the pri
mary currency in that area. This
may have had much to do with
the French demands for U. S.
gold, which helped focus world
attention on the meagerness of
U. S. free gold stocks.
SINCE WORLD WAR II, the
dollar has reigned supreme as
the soundest medium of ex
change all over the world. This
is a distinct advantage both to
the U. S. Government and to
U. S. citizens. Loss of preemi
nence for the dollar would have
serious political and economic
consequences for the United
States, because it would mean
that the exchange rate of dol
lars for other curriencies would
be less favorable.
THE EVENTS in January
have prompted U. S. Treasury
officials to deny emphatically
that the dollar would be de
valued. It has also prompted
them, however, to speculate that
the U. S. will shortly have to
rvduce or repeal the requirement
for maintenance of a 25% gold
reserve for Federal Reserve de
posit liabilities or for lv)t‘> Fed-
'”"’1 Reserve deposits an' -.utes.
RFPEA! or the re-
s rve requirement for Federal
R'S-rrve deposit liabilities but
not for notes, would be nothing
more than a deception. Federal
Reserve notes and deposits are
interchangeable; and therefore,
the effect would be ultimately,
or in times of stress, the same as
reduction or repeal of the re
quirement for both notes and de
posits.
ADMINISTRATION officials
take the position that reduction
or repeal of the gold reserve re
quirement would not affect con
fidence in the value of the dollar.
In support of their contention,
they point to the precedent in
1945 when the reserve require
ment was reduced from 40% to
25%. The precedent, however, is
not valid.
IN 1945, our gold stocks far
exceeded our short-term liabili
ties. At that time, most of the
nations of the world had cur
rencies which were comparative
ly very weak; and, indeed, no
other currency even approached
the soundness of the dollar. Im
mediately following the record-
shattering production by the
U. S. in supplying war materials
for all the free world, confidence
in the dollar was at an all-time
high. Today, however, the situa
tion is different. Our gold stocks
are meager compared to our
short-term liabilities; our gov
ernment is operating at a deficit
even when our gross national
product is reaching all-time
highs; U. S. political commit
ments require a continued heavy
drain on credits; and other na
tions ambitiously eye opportuni
ties to increase the relative pres
tige of their own currency.
IN ADDITION, a repeal of
the gold reserve requirement for
Federal Reserve notes and de
posits would amount to no more
than a stop-gap measure, unless
other steps are taken to cure the
fundamental problem of our bal
ance of payments deficits, and
the consequent outflow of gold.
Even now, our total stock of
gold amounts to less thar 60%
of our short-term liabilities in
the hands of foreign govern
ments, which are callable in
gold. An even more dire possi
bility is that an obvious stop
gap measure taken under pres
sure. such as repeal of the re
serve requirement, could so sap
confidence in the value of the
dollar as to cause a “run” on
U. S. gold by foreign creditors.
NEXT WEEK I will discuss
realistic measures to cope with
this problem.
Sincerely,
why a system which suffers less government ‘aid’ produces
greater progress.”
We hear so much about our liberties I quote an editorial:
“The following is a newspaper editorial w r ell worth the
I serious consideration of every American:
1791-1965: That is the span of our liberties.
This year is the one hundred and seventy fourth anniver
sary of the historic Bill of Rights, which formally became
part of the Constitution on December 15, 1791.
We hear a great deal about the ‘Bill of Rights’, but what
exactly is this bill? And what does it mean to you.
The Bill of Rights is the first ten amendments to our
Constitution.
They prohibit Congress from gagging your right to freely
express yourself on any subject.
They prohibit Congress from abridging the freedom of ex
pression of the newspaper you read.
They prohibit Congress from preventing you to assemble
peaceably for a redress of grievances.
No soldier in time of peace or war can be quartered in
your home arbitrarily—that is, without due process of law.
No one can enter your house to seize your person or pa
pers and effects without a warrant.
To be held for a capital or other infamous crime you
must be indicted by a grand jury; you cannot be tried twice
for the same crime; you cannot be a witness against yourself
and you cannot be deprived of life, liberty or property with-j
out due process of law.
The government itself is forbidden to take private prop
erty without just compensation.
You are guaranteed a trial by jury. And you have the
right to have counsel.
If you have been arrested, excessive bail is forbidden, nor
can cruel or unusual punishment be inflicted upon you.
That is the essence of our liberties.
The Bill of Rights spells the difference between, regimen
tation and liberty—between national slavery and freedom.”
It seems so easy to spend the taxpayers money. I wonder
if it would cause a great shock if neither the Congress nor
the General Assembly had any new plans that called for
money. I am quoting an editorial from Newsweek that is
very sound. It is by Henry Hazlitt.
“The history of liberty is the history of the limitation of
governmental power, not the increase of it. So wrote Wood-
i row Wilson. Yet in his term as President he presided over
an enormous increase in the power and size of government.
And every President since Herbert Hoover has presided over
a still further increase in the power and size of government.
Each President has insisted on giving his program a new
label—the New Deal, the Fair Deal, the New Frontier, the
Great Society—and yet each program has been essentially
an expansion of the previous program—a further boost in
spending, a bigger bureaucracy, an aggrandizement of
governmental power, an increased intervention in the daily
life of the private citizen.
It would use up all the rest of this space even to list the
new Federal programs or expansions of old programs—for
education, housing, health, conservation, the ‘war on pov
erty’—that Mr. Johnson proposed in his State of the Union
message. Ten years ago, when the Federal government was
spending only two-thirds as much as it is today, the Hoover
commission found that it embraced 2,133 different function
ing agencies, bureaus, departments and divisions. How many
does it embrace now? How many more will it embrace if
the President’s new program is enacted?
The Federal government is spending 167 times as much
in a single year as it was the year before we entered World
War I. Will every president, every year, be expected to
think up more and more functions for the Federal govern
ment to take over from the private sector to the ‘public sec-
(Continued on page 3)
Spring gridiron
practice begins
Coach Harvey Kirkland an
nounced that February Iwas the
beginning date for spring football
practice at Newberry College.
He hopes to get in 24 days of re
freshing fundamentals and learn
ing assignments which will give
a brief view of what to look for
next season.
The coaching staff is expecting
33 men, 21 returning lettermen,
for the spring countdown. Eight
of the 26 who lettered last sea
son will not return. They are grad
uating seniors, Dennis Lynn, Jim
Acker, Reed Charpia and Frank
Herlong. Others who will not be
on the squad are four freshmen
linesmen, Leroy Bouknight and
Clay Bradburn, and juniors Buck-
ey Hughes and Joe Wren.
Coach Kirkland has remarked
that the ball club needs to utilize
every moment of the spring prac
tice. He is ready to make any
changes that might be necessary
to have a wide-margin winning
season next year.
BY LINDA NORRIS
A S A follow-up to his successful
Volume I of Today’s Roman
tic Hits, For Lovers Only, Jackie
Gleason comes up with Volume II
which utilizes a two-in-one orches
tra—twin string sections, backed
by a rhythm section with accordi
on, English horn and oboe . . .
The album, which also presents
two soloists, Charlie Ventura,
tenor saxophone and Pee Wee Er
win, trumpet, features three new
movie themes (Charade, From
Russia With Love, and the theme
from The Cardinal) and a collec
tion of romantic songs—Have You
Heard, Since I Fell for You, Deep
Purple and Maria Elena.
Jesse Colin Young could qualify
as a misfit... He’s a city boy who
grew up in the city, lives in the
city, works in the city but loves
only the country . . . Jesse, born
in New York, was the only son of
a financial executive who attend
ed Harvard Business School . . .
The closest Jesse ever came to
the country was during his sum
mers which were spent in the
Adirondack Mountains and on
Cape Cod . . . His college career
started at Ohio State and lasted
one year since there wasn’t
enough time for music and school,
too . . . It was, however, at Ohio
State, that Jesse first heard such
country blues artists as John Lee
Hooker and T-Bone Walker . . .
Fascinated, he headed south, play
ing his guitar and singing the
songs he learned.
In 1961, Jesse returned to New
York and in the spring he rented
a house up in the hills close to the
Delaware River .. .“It was there,”
he recalled, “that I spent the sum
mer surrounded by friends who
were also pickers and singers . .
Some of them made up a lot of
their own songs and I began to
write songs, too, drawing from all
of the music I had heard . .
“Thy shall love thy neighbor as thyself**
—Leviticus 19:18
It is, perhaps, not always easy
to love our neighbor. He may say
or do things which displease us.
He may be a business competitor.
He may succeed in some effort
where we have failed. How can
we love someone we do not like?
Someone who does things better
than we do them? Someone who
is more successful, more popular?
We must, in justice to ourself,
do the best that we can. We can
begin with the Golden Rule. If
we can follow the simple phUoso-
phy of treating others as we would
like them to treat us, we grow
in strength and character. If we
pursue this course with diligence,
it is bound to affect those with
whom we come in contact.
This becomes a much easier
thing to do if we begin by con
sidering the good qualities of our
neighbor before evaluating his
faults. This is, after all, some
thing we. expect from others.
Read your BIBLE daily
and
GO TO CHURCH
SUNDAY
i
From Emmet Sharp, Woodlawn,
Virginia: I remember when small
boys wore “dresses” having two
rows of buttons on the front and
pinned on one side. I remember
when mother made me a “Buster
suit,” similar to a short dress. It
had a swell collar and matching
neck tie and, best I remember,
underneath you wore matching
bloomer-like pants. I felt kinda
proud heading for Sunday School
in this Buster suit.
I remember how large families
made out with two rooms, maybe
a bed or two in what they called
the “loft.” Lots of girls wore hick
ory shirting dresses or similar
materials, and rough shoes and
cotton or yarn hose to school.
Boys wore patched overalls.
Children were taught to honor
parents and elders. I thought par
ents were too harsh on their chil
dren. It wasn’t pleasant to sass,
act rude, go visiting without
leave, and we had to listen to
the minister’s sermon, long or
short
We had our jobs to do—get
ting firewood, carrying water
from the spring and the like. If
we failed to do our chores, and
we sometimes did, some parents
were “unde” enough to have
boys remove their pants in the
outdoor woodshed for a sound
spanking. This was supposed to
improve the memory. I wonder!
I wonderl
A
WORLD
OF
DIFFERENCE
Most everyone knows at
least one homemaker who
seems to do everything with
effortless ease. Her home is
always spotless; she belongs
to several clubs; she always
has time to help with civic
projects and activities.
Chances are the only dif
ference between such an in
dividual and the homemaker
“who just can't seem to catch
up" is in the way they go
about doing things.
Many a busy homemaker
has learned, for example,
that It Is wise to shop locally
as much as possible. Help
ing the community grow and
prosper, while a good rea
son, has nothing to do with
it. The facts are that just
obout anything and every
thing the homemaker needs
is available in the local
community — at a fair price,
and service is prompt and
efficient.
Getting what you want,
when you want it, is often a
matter of nothing more than
a phone call. It can make a
world of difference to any
one who places value on
their time.
Trade at Home
Reliability,
Character, and
Strength
Sound money management over the years has established
Newberry Federal's reputation as one that is unexcelled in the
industry. Add to this an outstanding record of consecutive divi
dend payments since 1935 and it is easy to understand why so
many people have opened Newberry Federal savings accounts
. . . and kept them there.
Savings are insured to $10,000.00 by the FSLIC, a permanent
agency of the United States Government.
Funds received by the 10th of any month earn from the FIRST
of the month.
Where you save DOES make a difference.
*
APwrr
* voim
SAVINGS
INSURED
s«aooo»
BRANCH OFFICE—BATESBURG, S. C.
SB
'avtjvos and Loan Association
*••• aaiduiaa •¥»9bt, mmirmnmwx**.
DIRECTORS
JOHN F. CLARKSON
M. O. SUMMER
W. C. HUFFMAN
J. K WILLINGHAM
E. B. PURCELL
G. K. DOMINICK