Newspapers / The Chatham Record (Pittsboro, … / Dec. 18, 1930, edition 1 / Page 4
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PAGE FOUR THE CHATHAM RECORD O. J. PETERSON Editor and Publisher SUBSCRIPTION PRICE: One Year 51-50 Six Month* 75 THURSDAY, DECEMBER 18, 1930 BAILEY DISAPPOINTING We confess a distinct disappoint ment from the utterance of Senator- Elect Bailey before the N. C. So ciety in New York City last week. The address, to be sure, was exceed ingly well phrased and was really interesting. The peroration *e take! to be the significant feature. It reads beautifully, but what in the thunder it means is your guess. Listen at it: ' ' “And they (the liberals! have done more to discredit liberal ism than all the standpatters. The true liberalism, as the word implies, makes ever for free dom, individual freedom. It is the antithesis of socialism, the antidote to communism. “The answer to our question is—we must preach a crusade throughout our land in behalf of the wisdom of the age, the value of experience, the virtue of orderly development, and the meaning of the ancient landmarks of our Republic’s progress, not a gospel of dis content, but a gospel of the meaning and the va.ue of the , government, We must press forward with an evangel of the Republic as revealed in one hundred and fifty years of in creasing prestige and world compelling human progress. We will not denounce; we will ex pose the fallacies and expound the truth. We will not protest. We w T ill overcome evil with good. We will negative their claims and pretensions with the great affirmation of the Repub lic as it is and must ever be. We will prove its character in Equality and Liberty.” Now, if there is anything of questionable value it is the “wisdom of the age”; that is the rock that Galileo crashed against, that im peded Columbus, that' has stood in the way of all intellectual and social progress, and must be clam bered over by every boM soul who dares to hold an opinion unchamp ioned by antiquity. Experience is of two kinds, both of equal value. Experience that has confirmed the wisdom of one’s course rightfully insists upon persistence in that course. On the other hand, experience that teaches the “dear school” and from which sometimes fools will not learn, contrary to the old saw, ever advises change. Now, the experience of the United States has been of both kinds .Much of it has been happy, but from the economical view-point the whole ex perience is disappointing. There hasn’t been a minute in a hundred years when, despite the unsurpassed resources of the country, a large percentage of the people have not been upon the verge of want, and today when (industrial progress has attained its maximum of all the ages, millions are not merely on the verge of want, but are in actual want, though food and raiment so abound that their possessors com plain of surpluses. , ~ In brief, .it would appear that Mr. Bailey 'has declared his dis regard of all the manifest failures of the present and age-old economic scheme, and has indicated his pur pose to become a mere patcher of the old economic wine bottles in stead of a champion of the con struction of anew bottles which, while retaining all the valuable fea tures of the old, shall incorporate 1-1 A TIME FOR ALL THINGS | There is a time to eat, drink and be merry; , There is a time to be serious, too; @ There is a time to be independent, J And there is a time to be happy all through, i . So guard ypurseif and your faipily & \ • •-ta )-sWith a snug little; bank account j 8 j In the home bank; the one'that is safe— -ML’ ! ft! BANK OF PHTSBORO I A. H. London, President Wade Barber, Vice Pres. B 5# W. L. Farrell, Cashier v Thos. J. Margan, A. Cash • jjßjfe I r f . . . jS . such new features as adverse ex- J perience has proven essential to the maximu,m production and fairest dis tribution in this new age of the machine and of mass production. Finally, Mr. Bailey says “we will prove its (the Republic’s) character in Equality and Freedom”. But when has such a character or character istic ever manifested itself in the life of the Republic? For nearly a century a part of the people were slaves; and today as many are ab solute paupers. ThepraticaHy, every one now has the Liberty to thrive economically—yes; vferily, the same liberty that the rabbit has to prey upon the fox, or the mullet upon the shark. However, that chance of. which Mr. Rosenwald spoke some times converts one of the world's economic rabbits into a fox, but Isuch an' event only emphasizes the helplessness of the masses against the force that prey upon them. Verily, equality and'liberty must connote an opportunity to work and to get a just return for toil or produce in the products of those who are no more efficiently em ployed than they, before it will again be a slogan for enthusiasts. Liberty to go and to come, to live one’s life free from official inter ference so long as the law is duly observed, in short, the hands-off of tyrants, is thoroughly established and taken for granted. It is only when some menace to such liberty arises that the word in that sense can again arouse to revolution, but that liberty and that equality | which are to assure to every efficient per son an opportunity to work and a fair return in other people’s pro duce for his own are now ideas that posess a power to arouse to action, and it is' in this sense that those words must be defined in economic life before they will mean anything in Mr. Bailey’s career as a statesman. And it is as well for him to recognize right now the fact that economic equa’ity can not be attained by raising all to the affluence of the millionaire, but only by the finding of an approxi mate golden mean. There has been no principle of mathematics found that will make it possible to add of the common product to the wealth of one group without subtracting from that of the other. If the making of millionaires is to continue unhindered, Mr. Bailey may be sure that the taking away from the masses even what little they seem to have will also continue. And it seems evident that only the subversion of the “wisdom of the age” which suffers the strong or the ruthless and greedy to batten unhindered on the life-blood of the masses can avail to change the cur rent of subtraction and addition. . For ages the wealth has been taken from the poor or weak and added to the stores of the mighty. It will mean a revolution to reverse this operation, but reversed it must be if Mr. Bailey’s Liberty and Equality are ever to previal. But the “wisdom of the age” thunders its veto. Then what, Senator Bailey? There is quite a different state of affairs pictured in the advertise ment of the Bank of Pittsboro and that so often revealed in the af fairs of broken banks. You note that the Bank of Pittsboro has liberal deposits with two of the strangest banking institutions l in the country. On the contrary, you perhaps have noted that the banks that have broken have borrowed largely from other banks. The Bank of Pittsboro foresaw the danger of such a course and has borrowed no money from other banks in two years. Those which borrowed wid loaned find that they have to pay or break, while tibe people to whom they loan ed can now. do very little for them. THE CHATHAM RECORD, PITTSBORO, N. C. STALE-MATE INEVITABLE Nearly two years ago the Rec ord, in a series of articles, clear ly pointed out the inevitability of a coming stale-mate in the indus trial world. It could but comie, what with a part of the industrial popu lation producing on the most mod ern basis of efficiency and at the same time selling, through the aid of the tariff or because of their own pracitcal monopolization of the market, at;.their own prices, : while another part of .the, population, in cluding must agriculturalist®, were producing Upon the same old inef ficient basis, yet being forced to sell at the other people’s prices. It is, or should be as clear as day light that the time would come when the men who had to give the product of a 12 hour day of their oyrn for the product of an hour’s employ of the man bolstered by modem machinery in production and by monopoly in selling, could no longer buy, and that instantly the ■other' fellow cou d no longer seT.l, and idleness of tens of thousands must ensue. The Record also stated that the only hope of a solution of the difficult problem would lie in the very fact that the monopolists would come to recognize the fact that their monoply is self-destruc tive and accordingly would see the necessity of such reorganization as would permit maximum consump tion, which is the sole support of the scheme of mass production. [The stale-mate has occurred, as it had to do. The element of the popu lation which had the short end of the industrial hand-spike have used Up their surplus strength, which ex isted in the form of real estate holdings, and can no longer play the game. Necessarily, the other fellow is out of the game too, so far as this partner is concerned, while the real estate mortgages which had served to bolster busi ness during the unequal contest, have shriveled in the hands of their holders. The unfairness of the game has not only put the disadvantaged party out of the contest, but has destroyed the pawns of the game. Such stale-mates are bound to re cur as long as the existing ineqal ities of efficiency in production and in the matter of price-fixing con tinue. Recovery to an extent will follow every crash, but only through a partial redistribution of wealth, which occurs mainly through the forced cancellation of millions of indebtness. But the Jack and Jill game, spilling the water after it has been bucketed and the break ing of many a Jack’s crown, will be repeated till economic life shall be organized upon a planned basis. The great question is whether the world will at this time profit by the lesson of the depression, of the financial cataclysm, of the ex istence of want and of the greatest abundance at the same moment, and seek a logical basis of reor ganization, or shall go on blind ly again, suffering a series of re petitions of the same kind of de bacle. ' Reorganization can come from either of two directions. It can come from the planning of the sane and well disposed, those who now hold ,the long end of the in dustrial' handspike,* through their consent’ to' even up advantages, or it can come from ,the same source it came from in Russia. According ly, there are three courses open to America and the world, for Ameri ca’s course wiill largely determine that of other countries, particular ly in case of industrial revolution. The old unplanned economic sys tem of dog-eat-uog may continue, with its recurrence of crashes and scramblings out of depths; a planned system may grow out of the recognition of the impasse to which mass. production! must (inevitably come again and again under the present’ regime; or red' anarchy fol lowed by painful reorganization upon , the radical lijnes. j, Accordingly, this is.a critical time; the mere depression is nothing if it meant only what the ordinary man conceives it to .mean; but when it is interpreted as the inevitable con sequence of unsound and impossi ble theories of economic or indus trial progress, it is of momentous significance. - . The latter view of the situation is rapidly being adopted by writers upon the subject. Note the follow ing significant utterance from “The Business Wdek”, which can scarce ly be, concqiyed of as a propagan dist of radical doctrines, hut which is honest enough to state what it sees, namely;* that this is a turning point in the economic states of the whole would. Here is the utterance referred to:. “Unless this business system, founded on private individual and organized effort can demonstrate its ability and unless our business and financial leaders developed by this system can demonstrate their intelli gence and determination to sustain -table progress in this country and maintain and advance American . co^t‘0 1 1 standards of living, vast masses of people in this and other countries 1 are going to consider seriously the j possibility of achieving these ends, under some other social philosophy and system of economic control. All > of Europe has already gone a long | way toward state socialism in one form or another; Russia the whole way. Uniess the United States can effectively resume its leadership in world economic affairs and de monstrate by its own success in meeting this crisis the superiority of the philosophy if which it now stands as practically the sole ex ponent, outright communism will be knocking at the gates of Ber lin and London within the next decade, and the echoes of that sum-, mons will be heard across the wide seas.” The Chatham Record is convinced that Cam M*orrison in a primary for the nomination for senatorship to 1 which he has been appointed by Governor Gardner would have got ninety per cent of the vote of ' Chatham county. No greater ap- ] proval of the Governor’s choice j can we express than the statement ] of the above fact. Morrison is the ] people’s choice if the choice of the 1 people of Chatham county is a \ criterion of the choice of the peo- j pie of the whole state. i § j In the death of Senator Over- \ man one of the evenest flowing j lives of the state has been snuffed j out. His lines fell to him in ex- j ceedingly pleasant places. Early j called to be secretary to Governor ] Vance and then fortunate enough j to marry the daughter of Vance’s | chief rival, Chief Justice A. S. \ Merrimon, and yet retain the < friendship of both men, he was > given a leverage which aided by , •his own urbanity lifted him ulti mately to a position that his actual \ mental capacity would not have won \ for him. It is seemingly fortunate j that the even tenor of his way was t not destined to be broken by the < easily foreseen results’of his pur- j posed candidacy for reelection to i the senate. He has thus gone with j his peace of mind unbroken, and j the Record joins a host of friends J in the wish: Quiescat in pace. HEADOUARTERS FOR SANTA CLAUS % • * * •" *» \ As usual my store at Bynum will be headquarters for Christmas shoppers in this community. ! shfcllhave || a Varied Stock at »%n*i ) . ■■ , . f iV CANDIES, IfitJTS, FjßUft'S;* AliOi SUITABLE dIFfS FOR YOUNG OR OLD m ‘ v : ... 'J. ** ' «F Prices will be right and I shall very much appreciate you custom. It will mean money to you and to me both. > • i i * C. L DURHAM BYNUM, N. C. ... - = -^r- KEEP YOUR RADIO IN REPAIR It doesn’t cost much to keep a radio in good condi tion, and one out of condition is a continual aggravation. I have with me now Mr. A. L. Bray, a capable and experienced radio service man, and he will do the work in quick order. R. C. A. & ATWATER KENT RADIOS We sell them. Either will give you good service. And we’ll take your old radio in part payment. THOS. A. THOMPSON Pittsboro, N. C. I ' • ' / IW——^ ———^^ P RIGHT HERE FOR 1 I YOUR CHRISTMAS GOODSi §f NUTS, CANDIES, FRUITS— | If RIGHT KINDS AT RIGHT PRICES. | § STAPLE GROCERIES AT | I LOWEST PRICES- 1 «f For Instance—FLOUß at $5.00 a Barrel, aj © SAVE MONEY BY BUYING YOUR | | CHRISTMAS GOODS HERE AND SAVES £ MORE MONEY BY BUYING ALL YOUR| § GROCERIES FROM :** | I 0. M. POE 1 i PITTSBORO, N. C. i fiWI in nil pi iij ■ i jji, Mi i!'i \.ww* THURSDAY. DECEMBER ib
The Chatham Record (Pittsboro, N.C.)
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Dec. 18, 1930, edition 1
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