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Copyrijht, 1930, Marshall Field 4e Company
Issued Every Two Weeks By and For
the Employees of Fieldcrest Mills, Divi
sion of Marshali Field & Company, Inc.,
Spray, North Carolina
OTIS MARLOWE Editor
No. 8 Monday, October 30, 1950 Vol. IX
Scouting Builds Boys
To keep a person in a Federal Prison,
it costs the Government $2.37 per day
Scouting in the Cherokee Council,
Boy Scouts of America, last year*cost
$11.72 per boy for the entire year. This
was less than 3c per boy per day.
“IT IS FAR CHEAPER TO BUILD
BOYS THAN TO MEND MEN.”
The above thought is a sobering one
and is something to keep in mind when
you are approached and invited to con
tribute to the Boy and Girl Scout
Finance Campaign this week. The
Scouts must depend upon assistance
from persons iike you in their programs
of wholesome training and character
Scouting is a non-profit organization.
Public spirited leaders from the home
communities comprise the Council
Finance Committee, and have jurisdic
tion over all money raised and expend
ed for Boy Scouts. These men make up
the annual budget based on the needs
of Scouting. It is their responsibility to
see that every dollar is spent wisely
and where it will do the most good.
Scouting receives and expects no
financial support from any Government
agencies. Scouting enjoys the reputa
tion of being an accepted youth pro
gram by practically every community
throughout the nation. It’s success and
growth can be attributed to the support
it has received from local citizens who
realize that “AMERICA’S FUTURE
LIES IN ITS YOUTH.”
WHAT IS SECURITY?
The long road of history is lined with
the ruins of those countries which
bought the souls and wills of their
peoples by the lure of a granted secur
ity, and then led them to ruin by that
The world needs people who will be
really secure and enduring, who wili
accept their responsibilities as duties
and ask only that the state guard the
avenues of freedom and keep them
open. —Dr. Russell J. Clinchy.
Bachelor (dreamily): “Sometimes I
yearn for the peace and comfort of
Married Friend: "Me, too.”
During The Period Of 1930 Through
1946 Every Second Dollar Spent
By The Government Was An Addition
To The Nation’s Supply Of Money
WHY GOVERNMENT ADDS TO MONEY SUPPLY
Government secures its income through four methods:
1. By taxing the people’s income.
2. By persuading- the people to buy its bonds.
3. By adding to the supply of bank credit money.
4. By adding to the supply of paper money.
These methods are resorted to in the order mentioned: As long
as the taxes cover the government’s budget, no bonds need to be sold
to the people; as long as taxes plus the bond purchases of the people
cover the budget, no bank credit or paper money need be created.
In other words, the government does not add to the money supply
until it is no longer able or willing to tax or borrow from the people
a sufficient quantity of the existing money to cover its budget.
From the year 1787, at which time the Constitution of the United
States was written, until 1917, the issuance of bank credit money to
government was prohibited by law.
Had the law not been changed, the public debt of the United
States would be many billions of dollars less than it is today — and
the taxes (in their true sense) would have been no greater.
Tnis is the sixth in a series of 10 articles dealing with money and its uses in our economic system.
The articles are based on the book “Money,” written by Fred G. Clark and Richard Stanton Riman-
oezy and published by D. Van No trand Company. The American Economic Foundation (295 Madison
Avenue, New York City) has granted permission to publish the series.
FIELDCREST MILL WHISTLE