PAGE TWO
JHE DANBURY REPORTER
Published Weekly at Danbury, N. C.
N. E. & E. P. Pepper, Publishers
WEDNESDAY, MAY 11. 1932
A STATE-OWNED BANK.
When Mr. Eugene Meyer, head of
the great Federal Reserve banking
system, suggested the other day that
the charters of State banks should
be annulled, thereby throwing the
entire financial control of the country
into the lap of the federal govern
ment, and thereby strangling the
time-honored privilege of the State
in its system of home banks, he was
only visualizing what the average
citizen knows has already happened.
For some time the control of mon
ey has been centralized, and the fed
eral reserve banks have dictated the
financial policies and controlled the
financial supply of the nation. And
behind the federal reserve banks and
CONTROLLING AND DICTATING
TO THEM have been the great
banks of New York City.
The reconstruction corporation was
formed by act of congress to relieve
the financial distress of the nation,
the small banks, the farmer, the
home owner and the unemployed
man.
Has it brought relief? Every sane
man knows that immediately anon
the passage of the reconstruction act,
the great money powers, the great
banks, the capitalists, took control of
the supply of cash, and that but lit
tle relief has percolated through the
restrictions improved to the succor
of the small bank, the moderate busi
ness man, the farmer or the unem
ployed.
It is a well known fact that the
note of the farmer or the small busi
ness man will not be handled by a
federal reserve bank. This puts the
farmer and the small business man
where his paper is tabooed by his
home bank, because the home bank
can't rediscount at a federal reserve
institution.
Is the State to lose its time-honor
ed rights, and is the farmer, the
home-owner, the small business man
to be sacrificed in order that the big
banking institutions may control the
money supply of the nation, and use
for their sole benefit the billions ap
propriated by congress for the relief
of thf nation?
•Vhat is the remedy.
Let the State of North Carolina
establish at Raleigh the North Caro -
lina- State Bank. Let it issue one
hundred millions in bonds, if neces
sary, for capital, its bonds protected
by the credit of the State
Then let the North Carolina State
Bank handle for the small banks of
the respective counties such good
paper as their clientele may be able
to furnish them.
This will immediately establish in
every county the facilities for trade
and traffic. The small business man,
the home owner, the unemployed man
or woman, who is able to give his
bank a good note, can get help. The
home bank, in turn, can get its paper
rediscounted when desired by the
State bank.
Immediately the arteries of trade
and traffic will pulse with new life,
and prosperity will come back to
every community of North Carolina.
The plan is entirely feasible and
practicable from every angle. The
State Bank can get money on its
bonds, and re-loan to the home banks.
The plan would immediately be op
posed by all who profit by the pres^
ent corner on cash. Propaganda
from Wall Street, from the Federal
Reserve centers and by those banks
in North Carolina whose interests
coincide with them, will fight bitter
ly the change, but the great ~ .L. .
masses of the people, if they under
the scheme, will sustain and
support the North Carolina legisla
tors who stand for a State-controlled
banking system, free from outside
interference, and established for
North Carolina and North Carolin
ians.
RESTORE INFLATION.
What this country needs is "infla
tion" again—we have had enough of
"deflation."
"Inflation" was created by
Woodrow Wilson and Carter Glass,
supported by a Democratic con
, gress. It means a liberalized
policy of the great reservoir
the federal reserve system, whereby
the balance between the American
dollar and American commodities is
maintained to a sensible level. It
means prosperity for the cotton and
tobacco growers, and financial help
for the small bank, the small business
man and the home-owner. It means
jobs for the unemployed when fac
tories and mills are set to work, and
all kinds of business activities flour
ish.
"Deflation" has destroyed thous
ands of millions of dollars of Amer
ican property and profits. "Defla
tion" means silent factories, mill
ions of unemployed men and women.
"Deflation" means prostration to
business; cotton and tobacco below
the cost of production, and homes
on the block for taxes, because the
small man can get no financial as
sistance.
\
"Deflation" means no help from
the government, and that the stu
pendous funds appropriated by con
gress are quickly absorbed by the
great banks and the big moneyed
interests of New York.
What became of the 2-billion dol
lar reconstruction funds? Because
of the restrictions imposed by "de
!f!atfon;" this money, loaned to the
railway companies and big banks,
insurance companies and large cor
porations, gravitates quickly to Wall
Street which holds the notes of the
railroad companies, etc. No money
for the farmer, none for the man
who who wants to pay his taxes on
his modest home, none for the small
business man needing help to carry
on his business. Go to your banker
and apply for a slice of "reconstruc
tion" funds. If you have govern
ment bonds or R. J. stock, you will
be accommodated. But not on your
real estate, your farm, your home,
your business.
'Clarence Poe is in Washington
working for the passage of the act
to restore the "farmer's dollar."
Senator Bailey is in favor of it, and
spoke for it. Poe says that congress
must provide that the quantity
tity of gold in our standard dollar
must be increased or decreased so
as to equal the 1920-1930 purchasing
power of a dollar, and that this may
be done by storing gold bullion in
the U. S. treasury and issuing not
coin but certificates against it—just'
as is now done with silver certifi
cates
Simplified to the public, and the
laymen—the American people want
"inflation."
* Business has been destroyed by
and the masses are
bordering on communism and revo-
I lution because of their sufferings.
THE DANBURY REPORTER
THE EDGE ON OVERPRODUC
TION.
Frank Parker, of Raleigh, State
crop statistician, estimates that the
1932 tobacco crop may be cut from
50 to 60 per cent.
It is too early yet to make definite
figures, as mitch tobacco can still be
planted, yet there is a foregone con
clusion that the acreage in the great
money crop has been radically re
duced. When the markets open
next fall our old friend Overproduc
tion may be rendered very pleasant
ly conspicuous by his absence.
Owing to the great depression,
which has tremendously lessened
the demand for tobacco products, the
curtailment will not be so effective
as it woull be under normal condi
tions. However, the results are
bou'nd to be beneficial to the farm
ers. Various factors have operated
to defeat overproduction this year,
chief among which is the require
ment of the federal loan committees
that only a reasonable amount of
the weed shall be planted, other
wise government aid would be with
held, or restricted. Of course anoth
er main factor is the discourage
ment of planters over the disastrous
prices allowed for the leaf.
!'Coupled with the cut in tobacco
acreage, is the amazing increase in
preparations for home supplies be
ing made by farmers everywhere.
On its surface now the situation
for the farmer is looking up, which
is gratifying to everybody.
It is a significant fact that Amer
ican women of today are taking their
stapd in politics just as seriously and
whole-heartedly as their husbands.
In a recent club convention held
in Winston-Salem at which promi
nent North Carolina women were
present, Mrs. J. M. Hobgood, of
Farmville, appealed to the women
to "elect carefully and then support
conscientiously."
Mrs. Hobgood is the president of
the North Carolina Federation of
Women's Clubs.
"It is the right of every citizen
that he have a voice in electing the
person {who shall represent him in
our law-making bodies this rep
resentative who estakes his lands,
who legislates the welfare of his
child, his State," said Mrs. Hobgood.
This is proof enough that our
women are not only deeply interest
ed in these affairs, but they are also
intelligent in the matter. However
rash they may have been charged to
be in other conditions, political prob
lems seem to demand their consider
ation and heart-felt seriousness.
Political women are not little or
mean. In the business of the matter
they, too, become big and fine and
splendid.
o
Sheriff John Taylor has just
arreh-ted Joe Mabe, who, It is alleged
broke into the smoke house of
Colonel Watts, near 'G-ermanton,
and carried away a considerable
quantity of meat, consisting
of hnniii, shoulders, Hide*,
etc. Thie robbery wan committed
Friday night and the circustantlal
evidence again.-* Mahe wan sufficient
for Watts to Keen re a warrant for
him. The defendant wan unable
* to give bond. A preliminary hearing
will be held here Tuesday 4n this
cafe. It is learned that Mahe has
been in considerable trouble
previous to this alleged violation.
n. R. King went to Winston
Tuesday, having in tow Bob
11 nd Sted King, Vance and Paris
Popper—bound for Oentry's Dog
and Pony Show.
'Man, married, with family, wishes
ft dire—uit of clothes, all* 29 by JO.
-*O. AnoV- Tkn~,
WOMEN IN POLITICS.
WEDNESDAY, MAY 11. 1932
JAPS ABANDON SHANGHAL
The Japanese are withdrawing
their troops from Shanghai, China,
after occupying- the city for several
months. The Japs could not stand
the pressure of world opinion direct
ed against them, and decided to give
up what cost them heavily in blood
and treasure to win. The Jap cab
inet acknowledged that "world-wide
odium had fallen upon them."
MORE CONSTRUCTION.
Congress is considering another
bond issue to bring back prosperity.
This one will omit the "Re" and will
be just plain "construction." As far
as suffering agriculture, the small
business man, the farmer, and the
laboring man are concerned the
name might as well be "destruction."
The history of federal finance cor
porations in 1932 so far has been dull
reading to the people who need help.
N. C. FIRSTS.
North Carolina is great on firsts.
Our latest distinction appears to be
that we have furnished the arch
crook of the day—Gaston Means,
Concord, who has capitalized on the
sorrow of the Lindberghs.
The latest tribute America pays
to Hoover prosperity is the loss of
350 millions of British trade due to
tariff reprisals actuated by the Mell
on-Smoot-Hawley regime.
in buying.,
you save in
usinq
UiTBAKING
IYV POWDER
same mice
"~FOROVER jT
40 YEA#
25 ounces for 25$
NOTICE.
NORTH CAROLINA.
STOKES COUNTY,
In the Superior Court
G. W. Greene and P. B. Thomp
son, trading as Greene &
Thompson,
vs.
Colonial Boxwood Company.
N'OTICK OP EXECUTION SALE.
By virtue of an execution direoteJ
to the undersigned from the Super,
lor Court of Guilford County in the
above entitled action, I will on—
MONDAY, JUNE «TH, I*B2.
at 3 o'clock, P. M., at t-he Court
House Door of Stokes County, in
Danbury. N. C.. sell to the highest
bidder for cash to sattefy said exe
cution, all the right, title and in.
terest which the said Colonial Box
wood Company, the defendant, nov
lhas and had on the 20th day of
August. 1931, In the following prop,
erty, to-wlt:
10 English boxwoods In a row.
making a hedge about 39 feet long,
each plant being about 7 1-2 feat
hiigh, with a nlni foot * p ead and
being on the lands of Mrs. Jasper
slate, near King, Stokes County.
North Carolina.
This the &th day of May, 1932.
J. J. TAYLOR.
Sheriff of Stokes County.
Hdsevllle, Ky.—Two farmers today
fought of 30 infuriated men to save
a negro from lunchera. —Brooklyn
Standard Times.
Four hundred million fresh-pick,
ed, tree ripe oranges a year go Into
ORANOE.ORUBH. But remember
there Is only one ORANGE-CRUSH
and If It Un't In the "KRINK.LY"
bottle It isn't ORANGE. CRUSH. I