Newspapers / The Franklin Times (Louisburg, … / Dec. 3, 1943, edition 1 / Page 3
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WHAT ABOUT GOLD? Babson Says Production Figures May Mean Gold Stocks a Buy By ROGER W. BABSON Babson Park, Mass., Dec. 3. ? Currency stability will be most essential to a maintenance of trade and revival of business ac tivity in the postwar period. Capital naturally gravitates to- the countries which give It the best reception and which hold out the most return for its use. If the United Stat es, Britain, Rus BABSON tsia. auu umna are to lunctlon as well together In peaee as they have In war, they must all be an chored to a stable currency. This would enable these countries to encourage, rather than to dis courage, the employment of capi tal. GOLD THE ONLY ANSWER Changing values in money bring great personal hardships. They also disorganize and retard all economic progress. In the hesi itancy of the investor, In the un certain moves of business, in the fear of labor and in the ineffec tiveness of legislation, we see con tinually growing signs of distrust in the value of our dollar. In terms of prewar values, today's dollar Is now worth seventy-live cents. As Inflation Increases and under our present system of man aged currency, I can visualize in the next five or six years a dol lar worth perhaps only thirty-flve cents. After the last war, during the 20's and the 30's, the business In terests in Germany, France and Central Europe were paralyzed becaupe of the rapid changes in the value of their currencies. Good money and sound trade are boom companions. Poor money and even fear that money will become less valuable causes waste and panic. The most pros perous times and the period in which trade and industry advan ced the most both here and abroad were when the British pound and the American dollar were tied to a gold standard. Then they were exchangeable for a definite amount of gold of a definite weight and fineness. WORLD BANK COMING I doubt if gold soon circulates again as money. I believe, how ever, that a world-wide bank ofv gold corporation may be organiz ed with actual gold in the form of coin or bullion as its capital. Private capital will then be en couraged to finance postwar trade business. If such capita) became frightened, this "International Bank" could guarantee any loans. It could also make loans on its own account to private business to cover goods in transit. Like our Federal Reserve System it Nome 7 As State's Top 4-H Victory , Gardeners MARCELINE SIMMONS. 15, of Pilot Mountain, North Carolina, has been named state representative in the 1943 national 4-H Victory Garden contest. The $irl is eligible to compete for sectional-national awards, which include a trip to the National 4-H Club Congress, Chi cago, Nov. 28-Dec. 1, and ? (100 War Bond. . . . She and six other 4-H gardeners comprising the state's blue award group were each awarded a $25 War Bond, provided by Sears, Roebuck. . . The six co-winners are: Emma Matthews, Henderson; Betty Peek, Gneiss; Billy Breedlove, Nashville; Dolly Ann Hedgecock, High Point; Ruth Whitfield. Clin ton, and Addie Parnell. Fayetteville. might prove a highly profitable and useful enterprise. Dr. Harry D. White of our Treasury Department and John Maynard Keynes, the British mo ney authority, have both propos ed plans for the stabilization of international currencies. The White Plan favors an actual gold fund. The Keynes Plan favors large credits over a long period of time without requiring mem ber countries of the World Bank to put up any gold. This Keynes idea is highly inflationary. At the moment the White proposal looks the best. Unquestionably, a bank plan will be worked out with most of the twenty-five Uni ted Nations' governments. PEOPLE WANT GOLD In World War I it was gold, not currency, which Colonel Law rence used in order to win the support of Arab tribesmen. His tory repeated itself when our own General Mark Clark landed in Af rica with a bag of gold. Gold will always talk when no other form of money is effective. That a natural demand for gold exists today is shown by the price of gold in the Bombay and Cairo markets where it is selling for almost double the United States price of $35. This strengthens my belief that international cur rencies. including our own, will be further reduced in value. This would mean further monetary in flation and a rise after World War II of consumer inflation fol lowed by even more monetary in flation. Countries in which gold will freely circulate aB a medium of exchange will be the best off. HE S GOT MONEY ? IN .... THE BANK So wrote the late W. F. Marshall long Associate Editor, Progressive Farmer, and it is still a prudent habit to have "Money in the Bank." If its in your pocket, it is easy to spend. If its in your home, it is subject to Fire, and of ten thieves break through and steaL On the other hand If your money is in the Bank, you know precisely what you have, and don't have to count it, and it is assured and insured by the Federal Deposit Insurance Cor poration, $5,000.00 for each depositor. YOUR ACCOUNT WILL BE WELCOMED AND YOUB CONFIDENCE RESPECTED. CITIZENS BANK 8 TRUST COMPANY HENDERSON, N. C. ? , Member Federal Deposit Insurance Corporation ==s= II, ? ? ?? I I ICS Countries which attempt to get along with some form of managed currency will be in the worst shape. Hence, we should ulti mately have in some form a cur rency which even if the circum stances were restricted would be exchangeable for gold. Thus, I predict that our present managed money system is on the way out. WATCH GOLD STOCKS More money has probably been lost through speculating in gold Bhares than in any other stocks. On a long-term basis, however, I now favor stocks of gold mining companies which were profitably producing before World War II. During the war, gold Is subordi nate in importance to nickel and copper and to the products of many other mines. In view of this, and the manpower shortage, nearly 60% of the' mines in the United States. Canada and South Africa have shut down. The re maining are operating on a great ly reduced basis; in fact gold pro duction in United States and Can ada Is less than at anytime in 100 years. After the War, when all efforts are turned to stimulating world trade, gold may prove the only medium through which interna tional payments can be made. Thus, gold may rise in value in terms of our present currency. Furthermore, as restrictions are lifted with respect to manpower and materials, after the war there should be a return of earning' power to the gold Industry. Cer tainly it is no time to sell gold stocks. New purchases should be confined to producing companies with the best ore 1-ating whose over-all cost of production is rea sonably low. Along with other tax payers, farmers are required to file "De clarations of Estimated Income and Victory Tax" before Decem ber 16, say Extension farm man agement specialists at State Col lege. THE LOW mm from HICKORY GROvr I dpn't often get too agitated ? not enought rtvjybe, some times. But I do work myself in to sort of a vex ed state when somebody like these fellows stirring up a strike-vote o n the railroads open up and say "the roads are making too ?much." I am not in the rail road business ? Jo Serra none of my folks are ? I can pop : off without somebody saying, i "that guy is not fair." The railroads have been limp ing along with their tongue hanging out, and parched, for years. The folks who forked up ; the cold, hard dlnero to build the roads, are people just like any body elBe ? they ought to eat too, but they have not been eating regular or hearty. They beeij holding the bag. The Roads made jobs during the lean years for the folks who are now being told they should strike on ac count of not being treated right, j That is where I start getting vex- ? ed ? and my blood pressure rises. ; Ding-bust it. if there had been no : roads built there would now be ! no Jobs to vote about ? pro or con , ? ? union or vice versa. Workers should have a meetin' ; with their wtfe and family and \ decide who is their friend ? the railroad or the Agitating Outfit cooking up the vote. Yours with the low down, t JO SERRA. FOB FIRST CI.ASS r^lNTING PHONi; 288-1 W. A. WHITFIELD W. A. Whitfield, 86, died at the home of his brother. J. L. Whit field. at Franklinton early Sat urday morning. He was one of the oldest mem bers of Franklinton Methodist Church. Surviving are his broth er; five nieces, two nephews, two great-nieces and two great-neph ews. , Funeral services were held Sunday at 2 p. m. from the home of his brother by the Rev. S. E. Mercer, assisted by the Rev. Bruce Hartsell. Burial was in the Franklinton cemetery. o RENEW YOUR SUBSCRIPTION THken EXHAUSTION leaia to Headache ? Don't let headache double the mis lery of exhaustion. At the first sign I of pain take Capndine. It r quiciuy orinra relier. Boothee nerval npeet by the pain. It la liquid? already dtaaolved? all ready to act? all ready to bring comfort. Uh only aa di rected. 10?. 80c, 60c. CAPUDINE ?( Peanut hay is good this year ind central buying stations are jeing set up at Tarboro, Willlam iton and other points to provide i market (or the crop. rnRPFPT PELT HANDLING MEANS BEnER PRICES! It is our responsibility to make full use of, and get maximum value from, the natural resources at our disposal. The rich Ameri can fur crop provides a source of income to those in all parts of the country who are interested in harvesting it. If FURS are worth trapping at all, certainly they are worth the time and effort needed to prepare them properly, so that they will bring you maximum cash returns! The mink and skunk pelts shown give eloquent testimony to this creed. The fact that the correctly handled ones brought from $1.00 to $7.50 more per pelt than the incorrectly prepared ones, indicates that careful pelt handling pays. By taking the pains to follow pelt han dling standards, you are preparing the goods you have to sell in the manner in which the user prefers. It is easier for him to make up uniform lots when all pelts are shaped correctly. Thus, you are follow ing the standards preferred by your cus tomer ? the manufacturer of fur garments. By doing that, you aim at TOP prices for your skins! At the same time, you are protecting your pelts from spoiling. Insufficiently dried skins, or those upon which too much fat is left, are likely to reach the market in a tainted condition. Naturally, such furs bring considerably less money. We're going away for the duration ! The Atlantic Company has, for over a year, overcome extreme difficulties of transpor tation and rationing in order to continue serving you with Atlantic Ale and Beer. Now, through circumstances beyond our control? the shortage of Tires, Gasoline, Trucks and Containers? we are forced to stop. Our investment in time, effort, dis tribution, merchandising and advertising is lost to us for the present at least. You can well understand that, with a great sales lead in this territory, it is a sad day for us when we have to give it up. We realize that it is a sad day for you too, in losing the pleasure of your favorite beverages ?Atlantic Ale and Beer. Wartime Con ditions and circumstances beyond your control and ours are responsible. We leave you with regret? we hope to return? and soon. Please remember us. f ATLANTIC /tie and (aee/t "Full of Good Cheer" BACK THE ATTACK ? BllY WAR BONDS AND STAMPS - Ati^iNTx: coarAta?iKmBimii MnKOit?ri ii GLORIFY HER ii LOVELINESS i ; \ WITH A || XMAS GIFT : ii FROM THE Fashion S h o p p e MEN, REMEMBER! WE'LL HELP YOU SELECT THE GIFT SHE LIKES BEST! Dainty Lingerie j Bed Jackets Robes Pajamas Hosiery Gloves Bags Blouses Sweaters Skirts Costume * Jewelry Umbrellas Scarfs - 'Kerchiefs These and other gift items, all ready for easy selection. AND BUY WAR BONDS, TOO. SHE'LL LOVE IT MORE IF IT'S FROM THE FASHION SHOPPE "A Smart Shop For Sm?rt Women" J LOUISBURG, N. C.
The Franklin Times (Louisburg, N.C.)
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Dec. 3, 1943, edition 1
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