Newspapers / Watauga Democrat (Boone, N.C.) / Sept. 6, 1934, edition 1 / Page 2
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PAGE TWO TODAY a n d *3gl FCAN K PARto iTjTp^jtevy lj SKKKBRIDetfef^^y ^i4)f "HCL" . . . stalks agai? Back before the great war Che o: alphabetical abbreviation w? used, see oxxenest in the papers '.v 'HCL.." That stood for " high living." Everybody was camp'.a'.rib about rising prices or feed, dothin rents and other expenses. That ya ished when the war sc:j} wages sk rocketing, an i there has been j.tt or no talk about the high cost 01 li tag; since, until lately. Now, however. \ hear housekee ers beginning to complain ibr their inability t.o meet expense.their normal household budgets. Th; is true in city artel country alike. C\ appear to be approaching another ei of "HCL." but without any ijaxnedia! prospect of being ab," * t o make up t! deficit. BEFJF . . . will soar Twenty-two years ago. n the sum iror of 19X2, I followed a porterhous steak from the local market Ssar-K i the cattle ranch. 1 wanted to find eu: for one of the big magazines. wh we were paying 112 cents a pound io the same cut that a few years be fore had sold for fifteen cents, found out I went to the Clhicag stockyards and talked with the pack ers anil commission men. Then 1 wen up into North Dakota to ntevviev an old rancher who had systemati cally kept track of his costs and wha he, had pot for each steer he had sol. for thirty years. And 1 predicted the! that he would never again buy pet terhouse as cheap as .'12 cents. The trouble in 19.12 was that th wheat farmers were fencing Pi lh old free range and plowing the shor grass under Beef production was be coming a business requiring mucl more capitil io make it pay. i want to make .mother predic tion. Bee: prices ire going sky-higl again Highly cents ,i picnic in th. cities for porterhouse steaks would n't surprise pie. Pork will go up like wise, also all other -. an. This timi the causes :Are. ri.nniy, the dentil o million* of beef cattSe because of th. drought. the shortage o! tn. con crop neck use of ilncigut-aud Govern monl fepui.iticn, wd w-' ItUiing ol ol am? million pig> as A part of tb AAA program. SJIA'KII . . . restored It was almost exactly three year ago, in idle summer of 193.1, that p:cdicted in this .-.damn that si'.ve then selling- at about 23 cents a ounce, would go i.o 30 cents or abo.v in the course of time. I hone some c may readers acted on my aus.sresUo that silver was a g".x>?.l tiling to Oui for the government has now under taken to buy all the silver otfere at 50 cents an ounce. My prediction of 1031 was base upon the realisation that the ptic of silver was out of all propcrtio to the prices of everything else Ft forty years the average price ol si ver was above sixty cents ar. nunc I had no expectation in 1931 that ol government would take the lead . restoring silver to its old monetar status, but rather believed that thei would be some international agrei menl to do so Now silver is back where ,t wa until a little more than a hur.ire years ago, from the beginning of it: til Oil AArva -wawoo > ? * !RB ov.u.utiv.r?a uiqaetury nict* second only to gold rhe world ove Indeed, silver .was the principal stai dard of money value up (o about tk time of our Revolution What maki it important to remonetize it is th: it is the basis of the money of a'ooi half the world's population whit has been out of line with the rest < the world's money for the past se.v? years, interfering seriously with tl world's trade. WEATHER . . . abend Now the weather forecasters a warning us to look out for anoth very cold Winter. Maybe they" right. I've heard a lot of iong-ran forecasting in my time most of whi didn't come true. To tell what t. weather will be three or six mont ahead, it is about as safe to rely < the old-fashioned country predict io based on a goose's breast-bone as u on what any of the amateur predk ers predict. When I was a boy a man in o section predicted that the woi would come to an end on a certa date?I don't remember what day set, but Halley's comet, which was vciy uriiuant anu thrilling sight 1883, was going to hit us square the middle. Everybody turned out. see the comet and some poor fo< gave all their property away and 1 gan to cut and stitch their rcsurn tion robes! I don't think I shall pay much ; tention to these forecasters cf z other hard winter?though I gui I'll ask my wife to look ever my wo en underwear. HOOVER . . . new book After keeping silent for sevente months, Mr. Hoover is going to coi out with a book in the fall. It oug to be interesting reading, if he pi everything into it that he must ha been thinking about since March laat year. A friend reports that Mr. Hooi I .1 I . I . I ..II. . I ?.. ?.. I ? Win Highest Health Ho J 1 - -' ' <5 f --Ir ~,ir.- ? k >.**+ *?$? ** m ?'*: -. * -r _> ""X; Jgj nssmJI ('(IIOAGO ... A romitrv girl, but i- ? as the ?na!thiest pair during Farm W< o i Milb.paugh, 17, a 4-11 Club member o.1 , \ the young lady. Mortimer Foxmamv 1 athletics for the physical development i The W eek in 0 t Washington. D. C. ? One <>: the j v things which tb.c President is expect- i _ ed to call on Congress to straighten j ? out next Winter Is the matter or" con-) j trol of banking and credits. j 1 Ultimately, many folk here believe, j - the Government will become the sole j primary* source of erodi* All the in-J i? dicauocs point that way At present. p however, there are three separate in- j t stitutions dealing with the banks ar.-i - each exercising some scfrt ?>f control 3 ; over credit. And those three are pub ling- m different directions. j There ^ the R&on.strucLvdii Fii nance a, the Treasury and ? the F?iieraI Reserve Bank system. - The first two rue Gover.muntal de nartmej-ts the list o3ten|fib'.y i prib vate instil itioi . but under Close Govi eminent .supervision and control. B The HFC not only has lent a few ! 1 billion dollars to bunks, but it Ls now. j under a law parsed at the hint session ^ j of Congress, making loans to private - j industries A!! of those loans are amply .woured. Indeed, the RFC-which I is. incidentally. oii?* great GcvernI menial. agency .which was established 3! urate.- the preceding administration His :he source to which almbst all r | s -und business enterprises of any size n i are turning for working capital. There * is no doubt in the mind uf anybody >L that these loans will Ultimately all P? n.-t r?-;ui Hac*k with: interest. -' RFC and ihe Banks Tlic RFC also has invested a great ^ deal of Federal money in the preferred stock of many banks all over 0 the country. The theory of this is ? not only that weak banks needed this n strengthening but that, being a large >r stockholder, the Government would j thus be entitled to a seat or. the board <>t* directors. and so keep watch that lr nr. depositors* money was ler.t for n speculative purposes: The Ad thinksv trntion behoves, and rightly, that a ? large pari of our financial difficul" | ties have arisen from Loc easy credit | for purely speculative purposes. But s- it was definitely the intent that this a additional bank capital, provided by the RFC, should be used '.o enable " the banks to make legitimate loans ! to business and industry; in other words, to loosen up bank credit. 1P That would have been all right i( !S it had not been for the uircctly opoosite view on credits taken by the Comptroller of the Currency's office :l\ That branch of the Treasury it charged with the periodical examinetier, of all national banks. In instance ,f! after instance, when hanks which have sold preferred stock to the RFC have used the proceeds in loans 0! unquestionable soundness, bnnk exre aminers have called their directors er together and "hawled them out" fot !e making such loans At C'ross-Purpnses ? Instructions from Washington tc ^ bank examiners are to compel ever} bank to call in every dollar of outon standing loans net secured by gooc "3 collateral or made asrainst finanria *J" statements which indicate man} " " times the value of the loan. And ii the case of debtors of long standing "r who have been unable to do mucl . more than pay their interest on banl loans, the Comptroller's office is in f o.'ned to insist upoD banks suing thi "i . .linquent borrowers and obtaininj ,m judgments so that if, at any timi *n within twenty years, the poor fellon .? does get hold of anything, the banl can take it over. In other words, while the Admin :c" istration and the RFC are airrir: for a reasonable inflation of credit or at least toward loosening up, th ui - iss looks and feels younger than when h ol- left the White House. He was sixt the other day, August 10th. To friend who suggested that he wasrf saying much, he replied that "the Lr, en teresting things are the things I'l me supposed to talk about." ;ht Another book by another Hoove its is just about to come off the prens ,ve es. That is "Forty Years in the Whit of House," by the late "Ike" Hoovei who was chief usher In xhe admin:: rer tratton of nine Presidents. WATAUGA DEMOCRAT?EVJSt nors During Farm Week J t* u city boy walked away with honors cos at the World's Fair. Miss Ciista f Mt, Pleasant ta (above left), w:j.s {j, ol Vlticago. <.QOOv? rvgiii i , iitaass *.\hich brought the honor to him. Washington 0'ir:ptro:ler's office is still working o:: a. policy of deflation which, if pursued to its logical end, would mean pretty nearly general bankruptcy. The answer to this apparent paradox i.s that the Comptroller's officeis still under the control of the samegroup which have been running it for years, through many administrations Out. of this situation has arisen the lea. which is beginning to gain adherents here, that the Compti: bier's -*r-tho'iid be entirely detached from the Treasury and its functions delegated to some other b< ly, perhaps the Federal Reserve Hoard. To A- '.i : rieeessrUite new banking legislation. enlarging the Federal T. . i v-.- s powers; but Uiat i.-> not impossible; \ Nat tonal t vu\ral Bank What some ? ; the clearest financ . thinkers believe should k- done, that does not mean that it will be doii%, is to co.i.-.'jUdate the RFC and the Federal Reserve, put all - under their jurisdiction and lei tb< iov* mine ut I all '6i its banking 1.<i;i Liuuu^i] Wlia.l WUU1U DC. ID ifleet a great national central bank That is the way in which nearly every ether nation in the world operates. Government itself does not en Rage in banking, banking does not attempt ta exercise governments functions. Treasury and central bank co-operate, the bank's function heon to keep its linger cn the pulse ol business and industry and to Aoal governmental bond issues or prevelfinancing for the government in oth er ways. Something of the sort will certain ly be discussed next winter wher Congress again meets. How far i' will get will depend upon many thing; including the Administration's holio the next Congress. That is still ir the future, but with little doubt hen of a safe working majority on tin | Democratic side. IUD.^V ii .^IIAJ fir.M:Kiurii) IN NEW STATE UrM.F.TD Tilt; trench silo has become one o the most popular and inexpensiv types of silos to store the teed need , ed each winter in North Carolina. During the past year hundreds o . mimeographed plans for biiildin; trench silos have been distributed t . interested farmers but the denian , for these plans became so heavy thn . an extension bulletin. "Silage and th Trench Silo" nas been written b , John A. Arey, dairy extension spc . cialist. and D S. Weaver, agricui . tural engineer at Slate College, ar, issued as Extension Circular No. 20: Com. and sorghum are the fori > most crops advised for use as silag and should be cut when they contai maximum feed nutrients and at th 1 same time sufficient moisture I 1 cause the silage to pack well. ' The amount of silage needed c 1 any farm is determined by the nun ' ber of animals to be fed. The aer i age required to produce a giv< c amount of silage depends largely u] - on the fertility of the soil. Inform, - tion is contained in the bulletin < I the amount of ensilage needed ar e the acreage to plant. tr ? . ..... iae trencn silo is inexpensive f construct and has given thousands cattle-keeping people of North Car lina excellent results during the pa % two years. It is recommended as type that is well adapted to the m e dium of small-sized herds and amoi e the advantages enumerated in t y bulletin are its low cost of const ru a tion, low cost of filling equipmei t ease of construction, and fire aj wind proof. The most important fa n tors to be considered in locating t trench silo are: drainage, soil ai r convenience. The location must pe mit good surface drainage, e Copies of the circular inay he o p, tainod free of charge on applicatic r- to the Agricultural Editor at Sta College. tY THURSDAY?BOON'K. N C. COOK FAMILY HOLD RSI SIOS AT HOMF OF O.AKK TKASTEK I One of tie most interesting and j on;<r,-. iiMc gatherings the writer has seen tor some rime was the family reunion of V. F. Cooke Jr. and children -"1 grandchildren <ei August 26th. 39."!4. at the home of Clark Toaster on the highway leaning from Heaton to Whatev. This meeting was pre| arrange j by the ohildreu for a hoir.ecenjtr.g and big : irr.iiy .-ally at this time A ! the children and gran icfcd Iron, r.ci'.idtng i.f rltin H. Cix>k the frr.hcr at" Mr. Co *it. nov Sl> years old. an-.i Mr= R. A. McGuire. the step-mother. now So years old. O. \v. McGuire and wife. V'bl Crawford. | Lew is Shoemaker and Ernest JohnI son were also present. Early :.n the r,orntng the cars Ix-(gei 1.) s; .i bringing a the children idiom -i.'Jterent parts { th- country jwiih -hoses and baskets full of good j Til 1 :! 1" ,-cis1.' Cook and [wife and tke-.r two children, of Kiizj ahelhton. Toon : VViliard Conk an 1 wife :ind three cht'drcn. of Detroit, Mich ; KAh'"1. Cook and two children of Hi- N C: and Ab?! ? Cook, of Detroit. Mich The giris were Carrie an - husband. Mr Clark Teaster, and two children. Heat-ii:; Vada and husband. Mr. Oe.orga Crawford, j?u < so hi i'dren, ot Beaton: Flora and husband. Mr J D. Walsh and si:; rjllil'.lre i. Dark Ridge: Beatrice and hf-i husband, Mr. Cum Wriglit, and three children. Iteaton. The. morning was dull and cloudy, with rr.itt'jrings of thunder in the west, yet the spirit of enthusiasm ran. high The boys tackled old times and the incidents of long ago, the children played on the lawn and seemed so happy, so free from care, so ignorant of the struggles of life just beyond then vision. The rain began to fall before noon. Dinner time was 'rawing near. Mr. Toaster prepared a rustic table across the front porch, ar.d upon this table the children began to spread the many good things brought in for the repast. From end to end, this table fairly groane i with good things to eat, each fan y seemed to vie with bach other as . which could .iprcad the be si and dans est. linnvr An 1 oh. how we did eot i:;-t eat. and after we were full an 1 mid eat no more, much -linnet remained and many baskets were taken up io bo carried back home. Bui the best was yet behind. After om dinner had settled, three- large water fgelond. about the size of Grandma'! churn, was brought on the lawn. Wt ag;., i cut. sliced an i ate. After this, the children stood u; 11 CIS Uu- porch mi snug oiS songs, suci J80MKS as papa and mama once <ii< Sing lit the good old years past ant D.Gi .! :| Clerk Coui i n : f 3 0 1 SUBJECT TO I COUN ld I. 0 Mr. Moretz " the Democrati o of his persona portant positi< ,n istration will i tious service t< sn j 1 With an ey Z ^ce' a young, f pectin iur your to Be sure to . st ship on Fridai a . e! CAST Y( it, nd <1T' ctie * id rb , [gone. These oid .songs seemed to in- j toxicate oust -sou!, like new wise, and I ! tile memory of this meeting wiil vi-t 1 ! brute upon the harps of memory as 1 ! ng -is life shall last. Brother cook's children and grand ! children were ail represented in tins ' meeting. Let us hope, when the roll is , called up yonder, all will be there. G W. McGUIKE. I I Watauga Han BQOXE ' A( nnc ntlil. B """" 1 BflRHMHBflflHHHHHHH rady M( Announces His Candidacy i of theSu] rt of Wat: County > THE ACTION OF THE ! TY CONVENTION TO B ON SEPTEMBER 15th. , who is a life-long followe c ranks, submits his candid 1 ana educational qualifica ^n, and promises that it el ie carried on in fair, efficie :> all concerned. e single to official fidelity orrafiil J ? ? ^ tiuic anu i cur-illlllcli support. attend the precinct meeting { afternoon, September 1 4t )UR VOTE FOR HE PEOPLE'S CANDIDA (POLITICAL ADVERTISEMENT) SEPTEMBER 6, |j) The Hitumcrteis Gun Actual invention of the taimraerless tun improvement Is a little obscure, says rati'tinder Magazine, but Daw, ivho controlled most of the gun patents In England at that time. Introduced it into that country In IStG. It [iltl not become popular or successful however until a man nnmcd Murcott patented a much Improved Suner firing uiecluinlsro in 1ST1. 1 , AUTUMN I I EPAIRING I ?od workman becomes a better H man when he has the proper for the job in hand . . . For Fall Winter repair work around the , use good tools and a good job ?% assured. I due of All Kinds of Tools lit Lowest: Prices. ROOFING | DF1NG! Asphalt and metal in rrent grades to suit all. Coit and all kinds of Builders 'dware. Bring us your prob- & iware Co. Inc. I r firm or enterprise) ^z=z_?--HB )rctz ;or perior auga DEMOCRATIC E HELD r and worker in lacy on the basis , tions for the imected his adminnt and conscienand public served Democrat ap ?s in your townh, and . . . MORETZ yTE" == = -
Watauga Democrat (Boone, N.C.)
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Sept. 6, 1934, edition 1
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