COUNTY MAKES RECORD
IN BOND SALES
Continued from page 1
porUd by the American Bankers
Association, industrial and farm
leaders, the National Retail Dry
Goods Association, U. S. Cham
ber of Commerce and other state
and national public-spirited
groups will put on the first all
out, post-war Savings Bonds
Campaign April 15 through June
30. It will be known as the Se
curity Loan and will compare in
its promotional aspects and pub
lic appeal to the last of the great
War Loans — the Victory Loan.
The purpose in conducting the
Security Loan, said Mrs. Ander
sen, is to cncouragi Americans
to build gr. ater security for them
s: Ives through greater savings,
to sprtad the national debt wid '
ly among individuals, to relieve
inflationary p cssures on our ec
onomy. Til. slogan for the -Se
curity Loan will tv "America's
Secir. ity :s Your Sccur.ty."
IJYNS!N(; STl’DKXT
IS ( ONTI.ST WtNM.U
(Oontimi' <1 r-i in ''.li e 11
:f I ur.sinn II: i!i Si-iiiHil. won'.I
t pr.'M,' UK’ oi ■ U ’.no Anivi’.I
i ' hi KmitiCi ", by : o fn!
l. V. • 0 V'l .''.'M
V\ 10- ’U: ■: :1
i. ■ ■
t. i ... Cem ! a: .A'" •!■! ■> ■ !
... ;t \\ ;s'.' to limit tr-:
.at ot put.-lo• ■: •: v. inch the]
siatt ■ countie^ a:'.d cities could,
incur, except by a vote of tne
people. Then an Amendment to
the Constitution was submitted;
t.. the Veters ot the state in the j
lP3o general elect.on. T.i.s
Arm ndnten; carried, and the debt j
limitation amendment became a
j t e; th.e Con.-tituta.i!.
New I snail prove ail srx oi
t:..-. points:
M...... local unit# of govern-j
r.
e.
i.ave again launci ed 1nit
plan of me.- > borrowing,
which may result in the t ■'■■■
cf m»veir.inent cl fix ^Oiii
bwui wnal it v.-a> fifteen year.
olv winn this del : was . • heav;
v.< re ir. financial trouble, h .t
ItAm years ago our ^tate had the
reputation of having the hignes'
per capita public debt in the na-|
t;on. Do we want to repeal th.e |
Amendment, debt limitation, and
ruin our state's reputation? No.j
v.e fie not want to repeal this
Amendment, because it would j
make our tax much higher.
The state itself is out of debt.
Put some of tin counties and ci
t.e.s have outstanding debts. T.n
scat' he..Nature is - rl'l'icient to.
aIt-cri■ all of the county and city.
B AC EC AC H E
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Rheumatic Pains, Getting Up Nights, strong
«ioudv urn.e, Irritating passages, Leg Pains,
tlrcle* under eyes, and swollen ankles, du#
lo ncn-organlc and non-systemlc Kidney and
Bladder troubles, try Cystex. Quick, complete
aatisfaction or money baca. guarani—<L AA
j«Q7 druggist lor Cystex today.
debts. The outstanding highway i
bonds are provided for by the
regular contributions to a sink
ing fund from gasoline and auto
mobile taxes. By 1951 all of these;
bonds will be sufficient to retire
all highway bonds. Let me re
mind you, fellow citizens, if we
repeal the Amendment, the high
way debts may not be paid by
1951. If this debt were paid, we
might have many more highway
debts imposed upon us. This in
turn would make our taxes even
uigher.
We sometimes labor under the
delusion that because money can
be borrowed at a low interest
rate, it is smart public financing
to go into debt for public im
provements. The trouble with
this theory it that, despi'e the
low interest rates, permanent
improvements made tit this turn
are very costly to the taxpayer
because of the high cost of build
ing. Many times the savings re
sulting from the law tnleres
rates is lost in hig.t buildim.
costs.
An important step that shook
bn taken in stabilizing Use fiscal
affairs of local governments
shOtiM be the authoi i/atinn in’
levying a tax ler permanent in;
pi v miei ; m fete money i~ b 1
rowed T • perma ■ ; ipm
: l : {. 1 ; \V.l! J -
' i • . ■ . i 'A
in- .it t ■ ! l'e - > n. T,
]U c pie . . i e\ . 1. e state v. 'i 1
Ann ailment in the next g- non..I
Mention. It all tne citizens nf!
\n; tSi ( a>•!1 n.a v, mo i ! e me,1
they w-'ll'u! be against sun i a i. •!:
ica! ntmvmi'tu.
t
Me-1 nf the pm ; ■ n Nort
Me.Mine. .specially tile farmers,
n n ; . ; ' ml n. |e.y h gher state j
taxes v. i'.i tin in farm V- eihte's
coin a-g , i iv.n. and ; lie pro I lid -
thi h a \e tn buy . going up evei •'
: , lie . \ \ t a1 s
e in ,; s ;.a- c ; eh! In b : •
nect. Me \ and In increase t.10
taxi's until the fanner.-, will n it I
have enough left t<> build up
their farms and repair their fattv '
machinery?
We citizens of North Carolina j
have difficult problems pi face.
On the state level, our govern
ment faces an entirely different
problem. Instead of having a defi
cit as a result of the war, we
have a surplus.. Instead of hav
ing a huge debt, we have accu- I
mulated a sufficient amount of j
money to pay all of t.ie state j
debt with thi' exception of the j
highway bonus, which tire aue !
ijuately taken care of already j
We have been able to pay tin
General Fun 1 Debt and to area- I
mulate ;i surplus of about .Soil.
JUO.OOO. not because w; have in
creased tax .•*. found new
sources of ivvvnur, or bciau.-r
if tlie growth of the state. As a
natter of fact, during this period
these General Fund revenues
tavt increased, but our popttla
ti >n has actual!;, decreased. W.iat
[ am attempting to impress or !
you i.s tin' fact that this enormous
••crease in General Fund revo
lt.-,s it not a formal growth, but
i direct result of the war. and
.vc shall not continue to collect
590.mj0.0u0 annually from the tax
schedules of the General Fund
•evenue bill. Because of tills sit
.tation. wo must handle this sur
plus wisely. We cannot jcopordi/o
he fiscal soundness of our sla'e
it the rate of $90,000,000 annua
lv. When the General Fund re
venue gets back to normal at
some time in the not too distant
future, the state government will
iave difficulty in maintaining
Specials
on Permanents
Machine Permanents
$.‘>.50 up
Cold Wave
Permanents
$7.00 up
Machineless- ?a.uu up
OPEN TUESDAY AND FRIDAY NIGHTS
BY appointment
Mayflower Beauty Shop
PHONE 89
WEST JEFFERSON, N. C.
the expenditure scale of this fis
cal year, to say nothing of the
prospective expenditures of the
next biennium. If we handle th:s
surplus wisely and mai;e propei
use of our present favorable fis
cal conditions, we can aver* an
other 1933 in the fiscal affairs of
North Carolina. If we enter on
another spending spree, it will
mean new and higher taxes; and
even these will not prevent the
necessity for balancing the bud
get by cutting salaries in the fu
ture. Fellow c.t zen, is this a
ren.-un why we should repeal the
amendrrent?
i should like m f've you the
definition of credit. Credit is the
ability to secure money, goods
■ v services in the presen* aga'nst
the prom s-' to p: y for them in
the future 1 am afraid f we bor
row money that we cannot pav
for it in the Ultimo. The disad
1 > 1 ed't is that it may
encourage ex'ravagence in con
sumption. Many pe so is of lim.
ted income live beyond the i
means through the use of crod'i
By means of installmo it buying,
expensive hou e'm ’ ‘ good-. a" i
mobiles, and other t;.t>y s are se
cured, which their e' rning power
dots not justify. This is also true
in goverr merit d: lit .
The uuwi-" us' of eie-.rt fre
quency leads :o the ve> • ■ x. an
sin,, of business ai.d i du t y.
! T.iis causes inflation of prices
a.t the litre and expansion and re
tv in d pression and business
'a'er on.
Now let me give you the defi
n'tien of public credit. Public
credit is the power of political
units to acquire funds in return
for 'h; it- promise to pay. These
prom ses are most commonly in
the form of paper money and
bonds. Ctovenmiert bonds arc
usually not seemed. Their value
depends upon the faith of the
people in their government. If
the government of the .state were
to fail with these bonds sold to
the citizens, the citizens would
lo;e their money
I shall summarize this by giv
ing you my opinion. My opinion
is that the amendment should
not be repealed. I am sure you
will agree with me.
Disaster doesn’t knock!
A mother is putting her child to bed
a tornado imprisons them in the wreckage of their home
_)
Youngsters are busy in a schoolroom . . .
an explosion tears the building apart
A disabled veteran builds a little business in his home ...... a river flood sweeps it all away
■' N. V
r
7
Happy young couple is enjoying a party fire destroys the building, killing and maiming
ANY of these tragedies could happen to von and yours
; . . for Disaster doesn't ask permission. It strikes with
out warning.
But where Disaster goes and Panic prevails, there too
is the- lted Cross. Prepared for action, calm in the face
of danger, experienced in the succor of suffering humanity,
the lied Cross brings relief quickly, generously, elliciently.
Aik] ... afterward ... the Red Cross stands by the in juris!
and the desolate through dillieulties Disaster caused . . .
to help rebuild their homes, restore their strength, and
give them new courage to carry on.
The Red Cross doesn’t stop to ask questions —it knows
no boundaries, no prejudices, no limitations. Ail it asks
is year help —for it cannot exist without you.
mm
IT’S YOUR RED CROSS... KEEP IT GOING
Bulk’s Dept, Store
Ray Hardware Co.
Co hard (>i! Co.
Dr. Pepper Bottling Co.
Smithey’s Store
Oak Flooring Co.
Burgess I urn. Store
Prazier*s
C. & IS, Servin' Station
W. .1. Parts Co.
Reins - Sturdivant
Northwestern Bank
Biivzdsoifs Store
Rare ■ Little (!o.
C. S \ I\ Chevrolet Co.
Rhodes Funi. Co.
Badgers
Ashe Motor Co.