WMHIMRM
Washington, Sept. 18.—The finan
cial education of the Administration
appears to be progressing nicely.
Chairman Jesse Jones of the Recon
struction Finance Corporation, after
"bawling out" bankers on numerous
occasions for not lending more free
ly, has admitted publicly that the
main reason for restricted credits is
"the lack of demand for good loans,"
and that this is due to "uncertainty
on the part of both bankers and in
dustrialists that markets could be
found for the manufactured prod
ucts to finance which the loans were
Intended to be made."
Mr. Jones spoke feelingly, after
trying to lend $300,000,000 to indus
try under the authority granted at
the last session of Congress to the
RFC, and finding himself unable
to put more than $10,000,000 out in
good credits. And while Mr. Jones
did not say so to the public, he ex
pressed himself vigorously to the
Secretary of the Treasury about the
policy of the Comptroller's office of
forcing the banks to "bear down" on
business men who are trying 1 to
carry on and who have always been
regarded as entitled to reasonable
bank credits.
Expect Loosened Credits
The upshot of this situation was
the calling to Washington of the
chief bank examiners from all over
Back to
School
SALE! S
COME TO THE STORE OF A
THOUSAND VALUES FOR
School Supplies
BIG THICK TABLETS 1 2 FOR 5c
"BEATS ALL" PENCILS 5 FOR 5c
LOOSE LEAF BINDERS 9c
NOTE BOOK PAPER, 45 SHEETS 4c
MECHANICAL PENCILS 10c
MECHANICAL PENCILS (Write 2 Colors) 15c
FREE FLOWING INK, BOTTLE 5c
WAX CRAYONS, 2 PACKAGES FOR 5c
COMBINATION PEN AND PENCIL 25c
PENCIL ERASERS, EACH. lc
Samples of WRIGLEY'S Gum FREE! A card with 3 sample
sticks of Wrigrley's Gum is free to every school child coming
to our School SaIe—WHILE OUR SUPPLY LASTS. Come Early
GRAHAM & CLICK
•5c AND 10c STORE
iJS^theßesb
Mined
Less than a bushel WiEmEIF
of ashes to the ton
COAL REMOVE-D AND MONEY REFUNDED
IF YOU ARE NOT SATISFIED / „. „ » „ »
OUR OTHER GOOD COALS ARE:
POCAHONTAS _PracticaUy Smokdesß
BORDERLAND -71 " LKUIM ta the Low Price
Field
CAROLINA ICE & FUEL COMPANY
Phone 83 Elkin, N. C.
Now V ice-Governor
WASHINGTON . . . Judge J.
I. Thomas (above), Democrat of
Nebraska is now Vice-Governor
of the Federal Reserve Board on
appointment by President Roose
velt. He is the "farthest West"
member of the Board.
the country, for a conference in
which the Federal Reserve Board,
the Reconstruction Finance Corpor
ation and the Federal Deposit In
surance Corporation took part with
the l Treasury. The outcome is ex
pected to be a general loosening up
of the restrictions which have been
placed on bank credits by the
Comptroller's office. That office
has jurisdiction over only National
banks, but state banks usually have
to follow the practices of the na
tional banks in their localities.
Secretary Morgenthau is taking
an active hand in trying to bring
about more effective cooperation
among the various fiscal agencies
and bureaus of the Government.
THE ELKIN TRIBUNE. ELKIN. NORTH CAROLINA
There Is reason, therefore, to ex-1
pect that bank credit will be easier
for sound business men.
Trying to Satisfy Business
Friends of the Administration are
beginning to be troubled about what
appears to be a growing hostility
on the part of business men and
industrialists. The first inclination
when reports of dissatisfaction be
gan to pour in was to pooh-pooh
them as emanating from political
sources. Now Washington is bo
coming convinced that the business
leaders are serious, and is trying to
figure out what It can do to satisfy
them. Th# stumbling-block seems to
be the President himself, who is re
ported by those extremely close to
him as being unable to understand
why business needs any more reas
surance.
Conservative members of the Ad
ministration are now saying rather
openly that if business men had
been assured some months ago that
there would be no further changes
in the rules under which they are
supposed to do business, they would
have begun to expand their activi
ties and by now real recovery would
have been under way. But instead
of such assurance they have had to
face such things as the President's
direct order to the cotton clothing
industry to cut down hours and in
crease wages, regardless of prolits;
the more or less open disagreement
between the President and General
Johnson on price-fixing under the
codes—the President opposing and
the General standing firm on the
original plan—and the growing feel
ing that monetary inflation is in the
offing.
Inflation Outlook
The inflation will be unavoidable
if the program of increased Govern
ment borrowings for the purpose of
"priming the pump" of business
continues is the considered opinion
of many of the soundest economists
who are in touch with the situation.
The last Government loan did not
go so well, and Uncle Sam had to
take up part of the issue himself.
To spend more billions there will
have to be more billions borrowed.
If the investing public will not buy
the new bonds at par or better, the
Government's only recourse will be
to put pressure on the Federal Re
serve and its member banks to take
up the new loans. Such a forced
expansion of credit is held to be a
long step toward inflation.
The Government spendings for
its various relief programs for the
past three months have been some
what less than $200,000,000 a month.
The certainty that the demands for
relief this coming winter will be
heavier than ever points to a very
great increase in such spendings
from now until next Spring,
The latest scheme of "making
work" which is seriously discussed
here is the project for a great "cir
cular highway," concrete, forty feet
wide, which would run from coast
to coast and back, taking in all the
great national parks, touch Wash
ington, New York, New England
and some thirty states in all. The
estimated cost of this highway is
$700,000,000, though it probably
would run well over a billion before
it was finished.
Liquidating Highways
The interesting point about this
scheme, however, is the plan to put
it into the class of "self-liquidating"
public works, by making it a toll
road, over which motorists would
have to pay, say, 40 cents for each
100 miles of travel. This, it is esti
mated, would pay back the cost and
interest in less than 30 years if only
a million and a half motorists made
the round trip each year. Toll roads
are one of the oldest and most cer
tain means of getting the money
back on public improvements. Many
of the nation's great bridges are toll
bridges, as are the vehicular tunnels
under the Hudson River at New
York. This project would employ a
quarter of a million men for several
years at $5 a day, and it is looked
upon favorably in many quarters.
Its particular merit is that it would
not, in the long run, be an added
burden on taxpayers.
Calloway Reunion Held
At Mitchell's Chapel
Approximately 300 people gathered
at Mitchell's Chapel in Yadkin coun
ty Sunday for the annual reunion
of the Calloway family. Members
of the family from as far distant
as Calloway county, Missouri, which
was founded by Captain Flanders
Calloway, who married a sister of
Daniel Boone, were present.
The Jenkins string band, of
Crutchfield, and the Salem Moravian
Band of Winston-Salem, furnished
music for the occasion.
A bountiful dinner, suggestive of
the coming Thanksgiving season, was
served, with roast turkey as a part
of the plentiful spread. A. W. Cal
loway returned thanks before the
meal was served. Afterwards the
crowd assembled in the church and
heard brief addresses on the history
of the family.
CONSIDER 30-HOUR WEEK
Porcible imposition of the 30-hour
week upon mills, factories, business
and industrial establishments
throughout the country, without dis
turbing present rates of wages, by
means of a blanket order, was re
ported to be upder consideration
Sunday by high administration of
ficials as a means of quelling labor
unrest.
Now Mr*. Forbes
■ •
/Jvj
;i^H*
YUMA, Ariz. . . . Heather An
gel (above). British screen star, is
now the wife of Ralph Forbes,
also British screen star and former
husband of Ruth Chatterton. They
motored here to be wed.
YADKIN MAN KILLED
WHEN AUTO CRASHES
Body of Roy Williams
Is Badly Mangled; Car
Is Demolished
WAGON IS BLAMED
Roy Williams, 20 years old, was
instantly killed Friday night at 7:15
in the eastern section of Yadkin
ville, when his Ford sedan struck a
large asphalt distributor and was
demolished.
Young Williams is the son of Mr.
and Mrs. H. Dallas Williams of
Shugartown and a highly respected
young man. He had spent the day
on the farm and was on his way to
a Yadkinville barber shop in prep
aration of going to East Bend to a
dance when the car crashed.
The accident occurred just east of
Shugart's filling station. The best
version of the cause of the crash is
that Williams who was coming to
wards town, was meeting a large
truck drawn by the tractor model
motor and containing a large tank
distributor. A wagon was on the
other side of the road without lights.
Williams was almost on the wagon
when he saw it and then made the
best of a bad situation by trying to
miss both. His car struck the large
truck-tank, knocking off the front
dual wheels and ripping off the en
tire side.
The body was found on the north
side of the pavement in a badly
mangled condition. His car was to
tally demolished.
Two Arrested
J. D. McKee of Clarkton, driving
the truck for Kiker & Yount Con
struction company of Reidsville, was
arrested that night and is held un
der bond of SI,OOO for trial before
Magistrate Joe Williams next Mon
day morning at 10 o'clock. Daniel
Zachary, of Yadkinville, driver of
the wagon, was arrested Saturday
and is held under SSOO bond for
trial at the same time. The con
census of opinion in Yadkinville is
that the truck driver is not to blame
as he was on his side of the road,
driving slow and his truck equipped
with the proper lights.
The Funeral
Roy Williams is survived by his
parents, Mr. and Mrs. H. D. Williams
of Yadkinville, Route 2; two broth
ers, Joshua and Homer Williams, of
Route 2; Misses Blanche and Delia
Williams, of the home; Miss Sallie
Williams, of Winston-Salem, and
Mrs. W. L. Mackie, of Yadkinville.
The funt ral was held at Pilot View
Friends church Sunday afternoon at
2:30, following a short service at the
home at 2 o'clock and burial followed
in the church cemetery. The ser
vices were in charge of Rev. C. H.
Hutchens and Rev. Lucy Vestal, as
sisted by Rev. Mrs. Milner Cox, and
Rev. G. W. Edgerton.
One of the largest crowds ever to
attend a funeral or other services at
Pilot View was present. More than
an hour was required to view the
remains at the church. A count of
1,350 to pass by was made when one
third of the church full had passed.
The crowd was estimated at 1,800 to
2,000 people.
Pallbearers were Worth Hinshaw,
George and John Williams, C. R.
Russell, Everette Hobson and Thad
Martin.
East Elkin News
Our Sunday school at East Elkin
Baptist church is increasing in in
terest and a cordial invitation is ex
tended everyone to attend.
Rev. J. L. Powers filled his regu
lar appointment at the church Sim
day.
There are several people in this
community who are sick, among
them are: Mrs. Isom Adams, Mrs.
Carrie Swaim, Mrs. Reece Mast«*n,
Mrs. Lula Adams, and Mrs. Jones
Wagoner. We are glad to note that
they are all much improved.
Mrs. Jean Haynes, of Pall Creek,
was the guest last week of Mr. and
Mrs. Fynn Haynes, the former her
son.
Mis. Kizzie Harris, of Winston-
Salem, is spending some time here
with her sister, Mrs. Lula Adams.
Mr. and Mrs. Roy Sparks and
baby spent the week-end with Mrs.
Sparks brother, Rev. R. J. Pardue
and Mrs. Pardue at Swan Creek.
Mrs. Walter Shores and children,
of Pair View, spent Sunday here with
Mr. and Mrs. John Pardue.
Buggaboo News
The people of this community
were greatly • saddened Tuesday
morning by the death of Mr. W. M.
Jdhnson. The family and relatives
have our sympathy.
Mr. and Mrs. I. S. Ring and chil
dren of Siloam, spent Sunday with
Mrs. Ring's sister, Mrs. W. J. Brad
ley and family.
Mr. and Mrs. Elmer Anthony and
little daughter, Bettie Lou, spent
Sunday with Mrs. Anthony's par
ents, Mr. and Mrs. T. L. Byrd, near
Macedonia.
Miss Eula Bradley of North Wil-
11 Mr. Farmer:
j I Our Bank congratulates you
on your fine tobacco.
|!
Our Bank wishes for you the
very highest prices.
ij Our Bank invites you to de- *
posit here.
DEPOSITS INSURED TO $5,000.00
i.j by the
Federal Deposit Insurance Corp.
l| The Bank of Elkin
Elkin, N. C.
R. C. Lewellyn, Pres. Garland Johnson, Cashier
NOIRE!
OCTOBER .BTH, 1934, IS
Final Date
FOR PAYMENT OF 1933 TOWN
TAXES!
ALL TAXES NOT PAIB BY THIS
DATE WILL BE
ADVERTISED
and
SOLD!
DIXIE GRAHAM
Tax Collector
Thursday, September 20, 1934
kesboro, spent the week-end with
her parents, Mr. and Mrs. W. J.
Bradley.
Mrs. D. P. Tharpe has been right
sick for the past few days, but Is
better now, we are glad to say.
We were very sorry to hear of the
deaths in the airplane accident,
which occurred last Sunday week.
The families have our deepest sym
pathy.
MAY MAKE AND KEEP WINE
Under a ruling of Municipal Judge
W. T. Wilson, Winston-Salem citi
zens may make and keep wine in
their home for their own use up to
five gallons. Irene Smith, a Negro
woman, was charged with having
that much wine in her possession,
but her case was dismissed when
evidence was introduced tending to
show that she had made the wine
for her own use. The wine was or
dered returned to her.