j ^WASHINGTON
WHAT
IS
TAKING
PLACE j
BY !
ft
Official Washington is viewing
the progress of new tax legislation
with more than usual interest.
One reason is t-hat tax measures
have become more than revenue
raising bills ? they also have a
yital influence on business trends,
unemployment and through these '
?> the purchasing power of all our
people. Thus the lteveuue liill of
J938 may have an important ef
fect in bringing about a much
needed upturn in business and in
dustry, accompanied by more jobs,
more buying and beMer farm
prices.
Why is this true? Obviously in- f
vestment of ue^r capital means'
stimulated business and industry.)
with expansion of factories and
stores. In turn, these things in
crease the demand for labor and
t.he ability of wage-earners to buy.
For some time business . men,
large and small, have contended
that the undistributed profits tax
and the capital gains tax have
"frozen" capital and exercised a
retarding effect on our whole
business and industrial structure.
Support of this contention is
found in the fact that the Ways
and Means Committee have great
ly modified these levies and the
House has defeat the proposed
tax on "closely held" or family
corporations. The House measure,
which will undoubtedly be further
changed in the Senate, eliminates
from any undistributed profits
tax all corporations with a net ;
income of $25,000 or less.
Some t?x authorities estimate
that- this exemption al'fects about
175,000 of the some 200,000 cor
porations in the country that
make a taxable return.
What) effect the new tax con
cessions may have on business and
industry and on 'merchants, wage-'
earners and farmers is. of course,
problematic. However, if the con
tention that tax policies of the ad
ministration rave retarded recov
ery has any merit, then there is
every reason to believe that re
moval of these retarding factors
should give new stimulus to every
element of business and industry.
Few states have a more vital in
terest in the new tax legislation
than North Carolina. Thus more
equitable taxation should be of
great benefit to the state as a
whole, and should give new hope
and encouragement to all citizens.
There is another aspect of tax
legislation causing much comment
in Washington. It is the increasing
difficulty of finding new sources
of reveuue. During debate in the
House, particularly when the pro
posed levy on "closely-held" or
family corporations was defeated,
tax leaders frankly conceded that
finding riew sources of revenue
presents a real problem. To many,
this indicates that Federal econo
mies must1 come. Many members
of Congress, like individuals in
private life, are realizing that ex
penditures can be no greater than
income. This has always held
true.
Hope for a solution of this com
plex nation problem can rest only
with business and industry. More
jobs and more wages seem the way
out-. In turn, this means a bigger
national income for our- people
and a wider distribution of the
cost of essential functions of gov
ernment. -t4
As this column is written, the
House is putting tie finishing
touches on the new revenue bill,
preparatory to sending it to the
Senate. Hearings by the Senate '
Finance Committee will follow.
Aftier this will come action in the.
Senate, conferences to adjust
House and Senate differences, and
final passage of the tax bill. There ,
is general agreement that this
measure is a key to stimulated;
business and industrial activity ?
if it fully meets the needs of the'
day.
A new industry for Rutherford
County farmers will be growing
hogs tor home us$ and market.
A number of men here purchased ;
pure bred breeding stock.
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EBEttwus?:
Doaks Pills
This picture shows how t?he shock demolished a medicine cabi
net in the home of Mrs. W. F. Beasley.
Germany Takes
A u s t r i a :
Vienna March 13. Austria (
ceased to be a nation tonight unit ,
became part ot Adolf Hitler's tier
man reich, extending from the
North sea almost -Ui the '\diiat\c.
The end ot the polft ical freedom (
of ancient Austria was achieved
by two legal steps:
First, President \V i ! helm Mik
las resigned. He had opposed the
nazification of his country.
Then. Arthur Seysz-lnquart. the
Ilitler-chosen chancellor. took
charge of the government under '
constitutional authority provided
for such emergency and announc-T
ed decrees legislating Austria out
of existence. (
Anschluss t union I of Austria to
Germany was accomplished at- the :
height of a great wave of nazi sen
timent, vastly stimulated by Hit
ler's presence on the soil of his
native Austria. ?
He spent the day at Linz. 10a -
miles west 3f here, deferring i4te
climax of his triumphal homecom-j,
ing. his entry into Vienna. Near)
Linz he visited the graves of his i '
parents.
The death blow to Austrian in- 1
dependence was administered ill;
the historic chancellery where the1
congress of Vienna was held in
1914-1915 and where in 1934 !
Engelbert Dollfttss. Mie little1
chancellor who fought nazidom.,
was assassinated.
Sf?sion Is Tense.
it was a prosaic but tense ses- I
sion ot the Austrian government. ]
Miklas stepped out at Seysz- i
Inquart's demand. Then Seysz-ln
quart took charge and it> was all
over in a minute.
The austi o-Germau border had
been wiped out.
Messages immediately went to
Hitler at l-inz and to his ally. Pre
mier Mussolini, in Rome.
In a few minutes it became
known in the streets, where de
leriously happy nazis went wild.
In the first excitement there i
seemed to be no mourning for the !
QUALITY
AND
SERVICE
\T
-VERY LOW 1
COST
ELECTEIC CHURN $15.00
G. E. BULBS 15c
'
Fairbanks-Morse Water
Pump, 225 gal per hr. $58.50
2 Used Washing Machines
as Demonstrators CHEAP (
BATTERY RADIOS
as low as ..... . ?12.50
ELECTRIC STOVE $59.50
1 Used 32 Volt PHILCO j
RADIO CHEAP;
? " !
2 Used AUTO
RADIOS CHEAP
Let us recharge your Radio
Sat(?ry on the modern and
complete Chargers in this county.
No charge for cleaning or p*int
ng your Battery. g
We loan yo? Battery while re
-harglng yours.
RAYNOR'S
Radio Shop
LargM ami Moat Complete
?milMl Blare in
0 PraakUa Gouty
PhoM UM LmUvi, N. C.
ild Austria.
A new day was being bailed by
l united German people ? and the'
world wondefed1 what next. ?
Then the news was flashed to
he ends of the earth. Statesmen!
everywhere realized i liey were
face to fate (*' it h an entirely new
sit nation in Europe.
To Hold Plebiscite
Tlie absorption of Austria seem
ed to be final and complete, but
provision was amiounnd for some
sort of plebiscite on April 10.
The exact question to be put to
the Austrian people was not
known, but it was assumed they
would be asked merely to approve
un accomplished fact*. There seem
ed no doubt the new nazi Austria
would approve.
Austria, it was made clear, will :
be drawn immediately into the
Herman economic structure and
irticulated to Germany's four-year
plan for economic self-sufficiency, j
At I.inz where Hit|er and his|
aides consulted it was announced '
Germany had adopted laws ? with
the same provisions as Austrian
constitutional laws ? making ef
fective the union of the two states.
A "second announcement said
i Hitler had become chief of t'he
n(er?ed Austro-Germau military
forces and that Austrian soldiers
immediately were to take aai oath
| of loyalty to the reich and der
fuehrer.
Subscribe to the Franklin Times
It Is Dangerous
It is dangerous to sell a Kl'HSTl
TUTE for ?()?! just to make three
or four cents more. Customers
are your best assets; lose them
j ami yeu lose your business. IHMI
Is north tim e or four times a"
much as a SlUSTITl'TK,
l-21-12t ,
'FOR FIRST CLASS PRINTING
PHOxxb. 288
ANNOUNCING
?
AUTOMOBILE BODY AND
GENERAL REPAIRS
' t? 1
We are glad to announce to automobile user* in
Franklin and adjoining counties that we have add
ed a body rebuilding department to our repair shop
and are in position to make ANY REPAIRS to your
automobile, any make, at reasonable costs. ' Ifcis
new department will be in charge of A. E. Hassell,
an expert body builder.. Bring your car to us be
fore sacrificing it- in a trade or discarding it.
We also <lo all kinds of Acetylene and Electric
Welding and .General Machine Repairing.
Hardwick Welding & Machine Co.
D. E. Hardwick, Proprietor
Church Street Louisburg, N.-C.
A LOT OF CAR
for a VERY LOW PRICE
The Ford effort to make your dollars
buy a constantly better car is well illus
trated in the Standard Ford V-8.
It has all the basic Ford advantages.
It is built on the same chassis as the De
Luxe Ford V-8. It gives you a choice
of smooth 85-horsepower or 60-horse
power V-8' engines. But it sells at low
prices, and includes bumpers, spare tire,
cigar lighter, twin horns and other equip
"** v>:? - m..,
Tka Standard Tudor .W?n
ment that make it a still bigger bargain.
With the thrifty 60-horsepower engine,
the Standard Ford V-8 is priced espe
cially low and gives the greatest ga9
mileage in Ford history. Hundreds of
owners report averages of 22 to 27 miles
a gallon ? or even more.
Your pocketbook will approve of the _
Standard Ford in every way. And so
will you when you drive it!
)
THE STANDARD pQftJy y.g
On Display at
GRIFFIN - THARRINGTON MOTOR CO.
< ?
Authorized Ford Sales and Service
Phone 286-6 ** Louisburg, N. C.
\
FAT BACKS
THICK .. ........ 10c
THIN 5c
LESFEDEZA
SEED OATS
CARDEN SEED
^ /
SEED POTATOES
Maine Grown Selected Irish
Cobbler and Bliss
HOT POINT
ELECTRIC
IRONS
*5.00
Please give us a look before
you purchase a
COOK STOVE OR RANGE
Our line is very complete and
moderately priced.
o
SPIKE HARROWS
DISC HARROWS
STALK CUTTERS
SUPPLYING THE FARM
is our business and we now have a large stock
of Hames, Collars, Backhands, Traces, Single
trees, Doubletrees, Bridles, Lines, One-Horse
Wagon Harness $5.00 up
Single and Double Plows, Well Chain Buck
ets and Wheels, Axes, Bush Hooks. Shovels
85c up. Forks, Hoes, Handles, Saws, Files,
Mauls and Wedges, etc.
Make No Mistake ? Use
RELIANCE
FERTILIZER
Choice Ingredients, Scientifically Mixed ?
Properly Balanced and in fine mechanical
condition. Those who Rely on RELIANCE
Grow Good Crops.
IN THE LABORATORY AND IN THE
FIELD RELIANCE IS "TOPS."
SEABOARD
STORE CO., INC.
D. F. MoKTNNE, PraddMit '
Wholesale - Retail
PAT CASH ud PAT LIS!