A Mystery of Our Times. . .
It is one of the mysteries of our
times that the advocates of federal
spending have been able to persuade
so many that the people do not know
how to spend their own money--as
individuals or as citizens of their
states and communities.
Today's argument for greater
federal spending not only exaggerates
the benefits of government spending,
but attacks as "frivolous" the extent
of private spending by individual
Americans. It does not seem to
matter on what kind of thing the money
is spent: college, new home, car or
medicines.
What this amounts to is a charge
that the people are not spending wisely,
and will not spend wisely if the choice
is left to them. Therefore the federal
government should take over more and
more of their income and spend it for
them.
Of course, the federal govern
ment has been doing just that for a
long time. . .for example, in public
power. States that have no federal
electric power plants still must pay
taxes to provide them for people else
where. The citizens of New York,
New Jersey and Pennsylvania have
picked up the tab to the tune of about
- 2
^mco J^ews
Published by and for the employees of
ADAMS-MILLIS CORPORATION in
High Point, Kernersviile and Tryon,
North Carolina. Produced in the Dup
licating Department of ADAMS-MILL.1S
CORPORATION.
Plant No. 1 - Helen Mason, Lela Rus
sell, Mary Maske, Rochelle Ester,
Maggie Gable, Virginia Wood,
Margye Martin, Ethel Fitts, Ethel
Carden, Margaret Russell and
Jessie Phillips.
Plant No. 4 - Minnie C. Nelson, Jean
Iris Smith, Ruth Hayes and C. W.
Browning.
Plant No. 6 - Patsy Rush
Plant No. 7 - Ruth Thomas, Mary Chap
man, Gladys Flippin, Blanche
Jackson, Viola Jones, Eva Jones
and Nannie Smith.
Plants No. 8 and 9 - Faye Edwards.
Machine Shop - E, Verne Snotherly.
Office - Fay Cheek and Frances Smith.
Composing Staff - Chas. Deviney, Jr, ,
Addline Hill and Ruth Ellington.
one billion, 378 million dollars, with
nothing to show for it.
Every 50 cents that local govern
ments get from Washington as federal
aid has cost the citizens one dollar.
Federal spending does not add to the
nation's wealth; it merely transfers
spending from individuals to govern
ment. It does not make the economy
grow--and worse, it takes from the
people income that could go into sav
ing, investment and real job-making
economic growth.
When in deep water, it's a good
idea to keep your mouth shut.