Newspapers / The Franklin Times (Louisburg, … / May 7, 1943, edition 1 / Page 2
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NATIONAL DEBT AND INFLATION Babson Says Middlemen In Good Position 2 By ROGER YV. BABSON Babson Park, Mass., May 7. ? I am receiving many letters from roo doro nrhn ora concerned over the ultimate size of our national debt. They won der how this huge debt and inflation will af fect their busi ness and invest ments. Hence, I shall devote my column today to a brief analysis of the situation. WHAT ABOUT OUR DEBT. BAUSON Our national debt now amountsj' to $135,000,000,000. By the end , of 1943 it will approach $160, 000,000,000. What happens af ter tliat depends largely upon the length of the War. As I expect ' the German phase of the War to ' run at least until November, 1944 and that it will take a year or 1 more after that to finish up with the Japs, we may see our national;1 debt reach $300,000,000,000. At the end of the War, under a pro per Administration, government borrowing should drop off sharp ly. We may then see some re duction in the size of our debt. Ultimately, however, somebody has got to pay it . ofT. Where is j the money coming from? The funds with which to reduce i our national debt cannot be pull ed out of the air. They must come from something real. The , only real property our nation has consists of its land plus its for ests, its mines, its oil and other tangible goods embraced in the earth. In the aggregate, this land of ours is worked and made to yield capital largely through the efforts otthe farmers. Hence. I believe in the end that tie far mers and other land owners, through increased taxes, will have to take care of the bulk of our national debt. The other group which must help pay the debt are the wage earners who process the products of the land. The merchants and other legiti mate middlemen' will be pretty much exempt. WHAT ABOUT THE INVESTOR? The investor ? particularly the! one who is living upon rents and Interest ? will surely get stuck. In (act, as inflation rises and long before we make an honest attempt to minimize its evil effect, bond holders will especially feel the pinch. In spite of legislation com modity prices will continue to rise and the investor's so-called "unearned" income will continue to buy less. Furthermore, his taxes upon the dividends and in terest which he receives will con tinue high. Unless the man who is now dependent solely upon such income for support can get some kind of a job to supplement his unearned income, he will be out of luck. The average wage earner who has invested in War Bonds at a discount will automatically in crease his capital over a ten-year period and hence will be a little better off than the investor who has spent his income. Further more, wages are now approach ing a peak and either will decline as I pointed otit in my article of two weeks agd or else be counter balanced by higher inflationary prices. All attempts to fix rents, wages or prices by legislation or regulations is the bunk. In the end, both farmers and wage work ers get only what they raise and manufacture by their sweat and toll. Too bad, but this is true! WHO 18 IN THE BEST POSITION? Considering all of our farriers, workers, investors, manufactur ers, jobbers, retailers and other types of businessmen, the mer chandising group are rtiost favor ably situated. This is the group that buys from the manufacturer and selle to the ultimate consum er. They include the chain stor es, department stores and the smallest shop-keepers. Those sell ROOF Now is the Time to Reroof Your Home. ... SEE US ? SOUTHERN ROOFING & SIDING COMPANY Phone 44*-e Nash St. UfrMMlr* FARM QUESTION BOX by ED W. MITCHELL Farm Advisor Cww i EhcMc Static* WG7 Q. What should I put on hay in the silo, if I cannot get molasses? A. You probably cannot get Holasses or liquid phosphoric ?cid, but do not worry. Dry the jay down to 63 to 70 per cent noisture content, chop, it short ind pack it well, and mix grass >r grain with alfalfa or clover Lbout 50-50; and it will keep all ?ight. If you want to, you can nix ctorn meal, wheat meal or ground rye or barley with the ;rass to help provide the starch ind sugar to make lactic acid. n? n Q. How can we keep hog pens irj ? A. Try to locate them on a side llll with the house and feed rough at the upper side. Build ;l)e floor on a slight slope and irovide adequate ventilation. 11? fl Q. How many sap buckets ihould hang to a large maple :ree? A. Two or three buckets are enough. L, I? 1 Q. Do I need any other tree to ross pollinate Bartlett pear trees? A. Yes. They should have Seckel, Clapp. KlefTer or Bosc nearby, or else get some bloom and put it in a pail of water in the tree. H ? <! Q. How should seed potatoes be treated before planting? A. Buy or use good, disease free seed; soak It 1 1-2 hours In <mercurlc chloride 1 to 1000; ro tate to new soil and use disease free soil as far as practical; and spray or dust every week or two with bordeaux or copper-lime. Di rections will be on each package. 11? H Q. Where can I get plans for a buck rake to put on my tractor? A. I will send you a set of plans. However, they are rather complicated and the rake is more cumbersome and expensive than most of us want, so simplify and change them to suit your own conditions. H? II Q. How much spring wheat should be planted to the acre. A. Sow two bushels per acre; get It in as early as possible and use the variety Marquis. 11?11 Q. What sort of seeds should I get for dry split peas ? yellow ?or green? A. Whichever you prefer, or ,dry whatever peas you have left over from the garden or market crop and dry them either alone or mixed. It is a good way to save any surplus peas or beans. There is nothing to it except to let the peas mature, pull and stack to cure, and then thresh with a flail or beater of some sort, and fan out the chaff and dirt. Alas ka is probably your best variety to use. I will get you a bulletin on drying foods. ing household goods, paints, I plumbing fixtures and every oth-j er article come under this cate gory. Did you ever ask yourself why salesmen have never formed a labor union? The answer is "because they get the cream au tomatically without a labor un ion." In the sight of God, Vice Presi dent Wallace is absolutely cor rect in believing that we should build up the industries of foreign countries and lower our tariffs 011 goods coming into the United States from these countries. This, however, presents the very seri ous alternative of shutting off our own people, or the peoples of other nations, from earning' a living. Already our wide-awake manufacturers have discovered that by having a plant in. one for eign country they can sell the products of this plant to the peor pie of a second foreign nation far cheaper than they cnn manufac ture the same goods in the Unit ed States and export them. The next step will be for them to har ness this cheap foreign labor t<? make goods for importing into this country. ADVANTAGES OF THE MIDDLEMEN' The merchant, however, under the captalistic system, cares little whether the goods which he sells are made in the United States or in Europe or Asia; be sells them just the same and gets his profit. When he can't make a profit he sells something else. He receives a tax bill and mails a check in payment therefor; but this tax money does not come out of him. He merely adds it to the price of his goods and passes the tax along to the faripers, wage work ers and investors. All this means that WITH A HUGE GOVERN MENT DEBT AND A CAPITAL ISTIC SYSTEM, good merchants and their employes and those who invest in their securities should be the best off during the next 20 years. , o Sixty-three Beaufort County farmers recently sold 561 hogs, weighing 129,165 pounds, for $18,135.32 ? the largest single sale on record. Rationing Changes Housewives of Franklin Coun ty shopping this week under re vised point values for both pro cessed foods and meats and fats will find that careful planning will enable them to buy more than ever before with their stamps jin War Ration Book Two, A. F. Johnson, chairman of the Frank lin County War Price and Ration ling Board, said today. New point values for both blue 'and redstamp rationing programs were effective Sunday, May 2. The meats and fats program showed 25 reductions and 16 ad vances ? all of one point ? while the processed foods values in a number of cases were reduced as !much as one half, while advances, in general were one or two points. Advances under the red stamp j program are confined largely to iprime cuts ? steaks and roasts ? I of beet, veal and pork. Reduc tions, for the most part, are noted I in variety meats, canned fish and other special products already having a relatively low point value. m processed foods, one-half re ductions in the point value of fruit and vegetable juices and in some fruits were made. Advances were made in canned or bottled ? pineapple? the most point-expen sive item on the list ? and on ap ricots and mixed fruits; on green peas, asparagus, corn, mixed veg etables and tomato paste, while reductions came in the most pop ular of all canned foods, toma-| | toes, and in green beans and leafy greens (with the exception of spinach). | Lower point values established during the April rationing period | for quick frozen fruits and vege tables are maintained, as is the temporary removal of dried black eyed peas. Dried fruits, likewise, contin ued ration-free. o | North Carolina's menhaden fish ermen average catching 4X0,000 pounds annually for each mem ber of the crews. A FEW LEFT! GET YOURS NOW 2 -- LARGE G. E. RADIOS. 1 - BATTERY RADIO COMPLETE. 3 -- ELECTRIC TABLE RADIOS. 3 I. E. S. FLOOR LAMPS. 2 ? ELECTRIC HEATING PADS. 1 ... ELECTRIC HEATER. 3 ? ICE REFRIGERATORS/NEW. 12 ... ELECTRIC DOOR CHIMES. A FEW RADIO BATTERIES, CLOCKS, WATCHES and RINGS. Compare our Merchandise and Prices. RAYNOR'S Radio & Jewelry Shop Louisburg, N. C. "We Sell the Best and Service th? Rest". ?'"a**- -uAjta 1 *??*?? * ? ? ? I ? SOIL CONSERVATION ? * NEWS * * By W. O. Lambeth ? ?????? ? ??? A complete soil conservation plan was made last week by Tech nicians of the Tar River Soil Con servation District for the~farm of W. C. Wilder. Spring Hope. N. C. Route 2. Mr. Wilder will plant some kudzu and sericea lespedeza seed a pasture and two meadow strips, and reterrace some of his fields. 11?11 Mr. C. F. Best, Frankllnton, has 35 acres of kudzu already and is digging crowns to set out two more acres this spring. II ? U Terraces were staked last week on the Ollle T. Inscoe farm, Lou isburg, Route 2, the J. B. Hunt farm at Ingleside, and the C. R. Edwards farm, Louisburg, Route 3. H? H Selling a few bales of kudzu hay this spring has convinced Henry Mitchell, prominent farm er of the Rocky Ford community, that kudzu is one of the best hay crops fir this section as well as one of the best land improvers. Mr. Mitchell .reports that every one who has bought any of the hay is well pleased with the way stock eat it. So in order to meet the increased demand for kudzu hay, Mr. Mitchell plowed out crowns from a four year old stand last Friday with a two horse turning plow and reset them on two acres of eroded hill side on his home farm. K? II -v T. T. Kemp has a six acre to bacco field that has been giving him trouble for several years. The tobacco rows have been breaking over and carrying silt into the terrace flow line, gradu ally causing the terraces to break and creating gullies down across jthe field. This year Mr. Kemp | will lay off his rows by a master guide tow, which was staked off between each terrace. This mas ter row was staked so that jit has sufficient drainage into the ter race ohannel below to prevent drowning of the tobacco plants and at the same time .does not have fall enough to silt up the War ^Garden ViV "?*ms>ak tk. Axial" Vic, H be grows rowi of vitamina. Rumford has taken on a war job too ? supplying neceaaary minorala to the diet. In baked food*, 1 Weal teaspoon of Rum ford Baking Powder ""applies ^ the individual minimum daily Require ment of phosphorus, H the require ment of calcium. FREE) Rumford's new folder, Quick Breads. Write to day. Rumford Baking Powd-r, Box 4, Rumford, Rhode Island. flow line of the terrace. fl ? 1l P. H. Edwards, Louisburg, Route 3, is planting a row of kudzu on a steep road bank this soring. Mr. Edwards says "that the field is so located that the rows drain to the road bank and a lot of the best topsoil has been washed down this bank and into the roadside ditch. When the kudzu is well established on the bank the soil will be held in the field where it belongs. : o H. B. Ashley of Robeson Coun ty has sold four purebred bulls recently, has a fine Hereford i breeding herd, and twelve steers | on feed. EXECUTOR'S NOTICE ! Having qualified as Executors ! of the estate of William H. Lay ton, deceased, late of Franklin I County, North Carolina, this is to notify all persons having claims | against the estate of said deceas ed to exhibit them to the under signed on or before the 7 th day of May, 1944, or this notice will be pleaded in bar of their recov ery. All persons indebted to said estate will please make immediate 'payment. This 6th day of May, 1943. | E. C. LAYTON, R. H. LAYTON, 6-7-6t Executors. I QUALITY FOOD STOW Florida Juicy Grapefruit, 4 for 21c Fancy Sweet Oranges, 10 lbs. 65c Large Juicy Lemons, doz. . . 23c f Fresh Lettuce, head 10c Fancy Home-Grown Strawberries CREAMY CHEESE, Pound RITZ CRACKERS, 1 lb. Box PREPARED MUSTARD, Quart Jar 33 23' 10" POINT FREE Blackeye Peas, Ac lib " ?POINT FREE MOTT'S Apple Juice, 10c 20 oz. Glass VIRfHNIA MAID Peanut Butter, 10c 1 lb. Jar f ^0 KELLiOO'8 Corn Flakes, IQc 11 oz. Pkg. . 2 for ^7 NABISCO SHREDDED Wheat, OCc 2 pkgs SALAD Dressing, 1 Ac Pint Jar . ~. .? . " SWEET MIXED Pickle, 11c Qt. Jar ......... COLONIAL Grape Juice, & Quart Bottle ..... W* VENDER'S BEST PLAIN Flour, 12 lb. bag. . 71c Flour, 24 lb. bag. $1.37 HEALTH CLUB Baking Powder, 1 Ac 10 oz. can *" Buy While The Supply Lasts ! FRUIT JARS PINTS, UQc Dozen 0?J QUARTS, v ? type Dozen . . ? I O HALF GAIJjON, .00 Dozen ^ 1 KERR MASON JAR OOc CAPS, Dozen HALL MASON JAR OTc CAPS, Dozen ?? JAR RUBBERS, Pc Dozen v This Store will be Closed eadh Wednesday at 12:00 o'clock. U. S. officials expect enough nsecticldes and fungicides to ake care of commercial crops and ictory gardens, but urge grow l's to conserve supplies of sprays nd dusts. Poultrymen who plai^ to raise chicks (or meat production uext year, can Improve their stock by selecting breeders f or fast feath ering, efficient rapid growth, and superior meat production. A GOOD RULE TO FOLLOW Insure all your crops Against Hail and Wind Damage. i Insure early and insure for full limits allowed per Acre. PROTECT YOUR INVESTMENT RATES ARE REASONABLE SATISFACTORY ADJUSTMENTS LOSSES PAID PROMPTLY Call - Write - Phone INSURANCE DEPARTMENT CITIZENS BANK 8 TRUST COMPANY HENDERSON, N. C. Phone No. 199 In cooperation with the rest of businesses in Louisburg, our Station will close each Wednesday afternoon at 1 o'clock. We have a few 5.50 x 17 Tires that can be purchased with cus tomers holding Grade 111 Tire Certificates. If you drive in for a Tire checking or a complete servicing, we will do our best to PLEASE you. SERVICE GIVEN, NOT PROMISED COME IF YOU CAN, CALL IF YOU CAN'T. Telephone 357-1 FULLER'S ESSO SERVICE 0. P. A. Inspection Station No. 1 Opposite Post Office Louisburg, N. C. WANTED 10,000 Pairs of Old Worn Out and Discarded Shoes. Boy's, Men's and Women's. SHOE < Bring them in we will buy them and you can buy War Savings Stamps with what you have been throwing aws^y. " Save Every Way " MULLEN SHOE REPAIR N. 0. MULLEN J<)Vof fri?adis as jpst "MOON") h mlrnZS' ^ ?T>> ??'?*?>? 7 i - ? ? ; a I
The Franklin Times (Louisburg, N.C.)
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May 7, 1943, edition 1
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