Special to The Franklin Times
Washington, April 17. ? Beer li
back and the firat day'a aalea are
?aid to have netted the Federal
government and the Federal gov
ernment and the varioua atate
and local taxing units about ten
million dollara, which la s lot of
money. Some brewera aent Presi
dent Rooaevelt a tew cases of
beer which arrived at the White
House Just after midnight on the
day when its sale waa legal. The
* President gave the' beer to va
rious frlenda and that waa that.
What is worrying the wets la
that Mr. Rooaevelt haa not aald
anything about the repeal of the
18th amendment. The Presidents
friends reply that there isn't any
thing for him to say. The repeal
amendment la now up to the
states, and most of them" have ar
ranged or are arranging for con
ventions at which either to rati
fy It or turn it down. It la hardly
likely that Mr. Rooaevelt will use
his Influence one way or the oth
er.
Invitation to* Nations
The really Important develop
ment In Washington la the lnvltar
tion by the President to the heads
of eleven other nations to come
to Washington to see him, or to
semi somebody, In order to talk
over the world economic situa
tion and get ready (or the World
Economic Conference, which is to
be. held In London In July. Ram
say MacDonald, Prime Minister of
Great Britain, was the first to ac
cept. All of the other nations
are sending their best men. The
President plans to talk to each
of them separately, get them to
agree to something to which they
will stick when the conference is
called, In the hope that some line
of action can be arrived at which
will start commodity prices mov
ing upward, stabilize the world's
currencies and move the wheels
of international trade again.
This is not an altruistic pro
ject to save the word. The Presi
dent is undertaking something for
the sake of the United 8tates
first and the world at large In
consequdbce. Whatever we put In
the pot he expects us to get back
with something besides. The old
foreign trade policy of the United
States has been definitely scrap
ped. __
No longer will tile effort be to
open foreign markets to our
goods while barring foreign goods
by mean a of high tariffs. That is
certain. So when the President
- > starts to pursuade other countries
to lower their tariff barriers he
must have in mind that such a
program can succeed only If we
rearrange our tariffs to permit
the sale of foreign goods in this
country.
Tim for Reciprocity
The need for this reciprocity
on our part is Inescapable. For
even If we could trade our war
debt claims for a lowering .of
foreign tariffs on our exports,
without reciprocal action on our
part we would get nowhere. For.
as the President's advisers point
out. there Is no 'earthly way for
other nations to pay for our goods
unless tliey can self us their
goods.
tWise observers here say that
the policy of "economic nation
alism" has been definitely scrap
ped by the Invitations to Oreat
Britain, France. Italy, Germany,
Japan, China, Argentina, Brazil,
Chile, Mexico and Canada to talk
over International economies at
Washington. Some go so tar as
to suggest thai the League of
Nations . will be functioning here
more strongly that at Geneva.
_ it seems likely that more Imme
diate and tangible results may
follow these conferences than
have followed the League's ac
tion, for In this case the United
States has the whip hand and
apply economic pressure to make
the other nations come to reason
able terms.
Mast H?rr New Rnenn
That there will ' be some new
form* of Federal taxes to make
up the Tut sums which are to be
?pent In the various projects (or
relieving the dome* tic situation
seems as certain as tomorrow's
sunrise. Nobody knows "yet what
form these new taxes will take. .
The original idea of the Ad
ministration of lending money
based on Federal credit only to
self-llqaldatlng public works
seems to have been abandoned.
There la not enough of that sort
of work to be done to go very far
In putting all the unemployed
back to work.
With the plans for farm relief,
_ home-mortgage relief, unemploy
* ment relief, bank deposit Insur
ance and all of the other enter
prises which must .be financed
against the credit of the United
States it is estimated tbat from
five to ten thousand million dol
lars of credit will be required.
The balancing of the budget Is
the first step toward making the
Government's credit good, so that
It can go to the public and borrow
the neceesary. funda for theee oth
er prejects on bond issues.
Money, Mea and Plan* *-*'
In Congress there is a power
ful group which bellevsa that
budget-balancing, Interaatlowl
Indicted R?nlf?r
Ai early trial U scheduled for
Charles E. Mitchell, resigned chair
man of the National (Sty Bank of
Now York, and now tinder indict-'
ment for income tax evasion. JPhea
arraigned Mitchell pleaded* not
agreements, public works bond
issues, railroad, banking and
utility reorganization, farm re
lief and everything else will ac
complish nothing unless there is
inflation of the currency. The
project to reduce the amount of
gold In the dollar is the latest
scheme to this end. It is not re
garded here as meeting the Presi
dent's approval. It seems ? more
likely that some sort of a silver
purchase program by interna
tional- agreement may be decided
upon.
Many members of both houses
see salvation only in broadening
the bases of employment Ity
means of the five-day six-hour
week, at higher pay. Some others
bold that there must be an ac
tual redistribution of capital
through a capital levy, Income
tax changes or a simple confisca
tion of capital and income above
certain figures.
And when it comes to interna
tional agreements, there are more
different ideas than there are
members of Congress. The Insis
tence that Europe must pay her
war debts in full Is not so voci
ferous as a few months ago. j
The President hears a bedlam I
of advice daily. So far It does not
seem to worry him. There are all
sorts of people urging him to "gq
on the air" send urge all debtors
and creditors to sit down togeth
er and. agree on a general reduc
tion of debts. There are others by
the hundreds urging him to' adopt
soihe wild scheme or other. But
the President keeps working away
at the blue-prints of what, his
Intimates say, is a definite, in- i
tegrated plan, to be adopted step i
by step.
LOWER COTTON
ACREAGE DESIR
ABLE THIS SEASON
While North Carolina farmers
await the passage of the Farm
Relief bill to settle many of the
difficulties In regard to cotton
growing, it should be kept In
mind that this bill Is not to guar
antee a better price for cotton
but la to encourage a smaller
acreage so that a better price
might be secured for that cotton
which is produced.
"A study of the available fig
ures shows that the supply of
American cotton on hand was re
duced but ,lttle during the first
seven months of the fiscal year
1932-33 and if the experience of
past years Indicates what will
happen this year, the rate of tak
ings will slow up considerably
from now until August 1," says
J. P. Crlswell, extension farm
economist at State College. "Re
gardless 6f the outcome of the
present farm relief bill, ' growers
will make a serious mistake In
not reducing the acreage this sea
son. This la absolutely necessary
before better prices can be ex
pected."
Crlswell points oat that the
supply of American cotton on
hand last August 1 was 13,000,
000 bales and the last ginning re
port on March .1 showed a pro
duction of IS, IS4.000 bales last
season. This means that the
supply for the present season Is
?boat 26 million bales. It to es
timated that not over II million
bales will be consumed this year
and so the grower will face a
supply of 13 million bales left
over when he begins to market
the 1933 crop.' In other words,
the market coald do without the
1933 crop very well.
Therefore, If North Carolina
cotton growers want to work In
harmony with the new farm re
lief bill, they will reduce the
acreage tBIs season. To do so Is
not only wise but necessary If
better prices are to be secured,
Crlswell says.
Nearly every Durham County
farmer wll plant a garden this
year with most of them making
plans to keep the garden going
the rear around.
Alleghany farmers saved two
cents a pound on 9,970 pounds of
eover and grass seeds ordered co
operatively through their loeal
mutual exchange.
j They Rule Supreme lit Agriculture
? '
Henry Morgenthau, Ji, (left) end Secretary of Agriculture, Henry A,
WaUaee, (right) are the two man who will rule anprome la federal actirltlea >
to girt relief to agriculture, a* provided in Preeidwt Rooeerelt'i farm
neaeure. All farm and agriculture bmreeoe hare boem eoneolidated under
the direction of one board with Mr.Mor gen than a* ita head, who will work i
Urectly with Secretary Wallace.
New French
M. Andre de Laboulaye, long Is!
the French diplomatic service, la the
new French Ambassador named to>
the United State* to soeeeed M. Paul;
Claud eL
CHECKING,
ON
$?$?2!
The major league baseball sea
ion Is under way and already the
experts are picking pennant win- '
sera. In the American League It
la believed the New York Yank
ees will again take first plac?,
with Philadelphia second, s
Washington third. In the Natioaal
League the Chicago Cuba art
picked aa another pennant win
ner, with Pittsburgh In second [
place, and St. Louis third.
t t.t
Washington's Huskies * sweptl
to three thrilling victories over'
the California Bears on the wlnd
toesed Oakland Estuary the oth
er day in the annual renewal of
the crew regatta established thir
ty years ago. Washington won in
the freshman, Junior varsity and
varsity races, the last by sevon
lengths.
ttt
Yale has a fleet of 25 varsity!
and class crews.
t tt
Ostrich races are popular tn|
France.
? ? ?
Sun Atcheaon, of Memphis,
Tenn., is the new national ama
teur handball singles champion
Me won his title In Chicago.
X t t
The other night in the Tale
pool at New Haven, Donald Horn,
of the Northwestern, iwam to a
new world's record in the 220
yard breast stroke race. He was
clocked at 2:29.8 for the dis
tance. The offlclal, accepted
world's record Is 2:S1.S mad* by
Walter Spence in 1927.
t t I
The San Francisco Seals traded
a case of prone* the other day to
Memphis of the Southern Asso
ciation for Jack Benton, first
baseman. President Tom Watklns
of the Memphis Club telegraphed
he was satisfied. Vice-President
Charles Graham of the Seals re
plied he was, too. Nothing has
been said about what the player
thought about the deal.
t t t
Jack Plncus Qulnn, of the
Brooklyn DoSgers, who is 41, Is
the oldest player In major league
baseball.
t t t
Ellsworth Vines, American sin
gles tennis champion, has an
nounced he will not compete in
any open tournament. Inasmuch
as.no date has been as yet select
ed for the open tournament, it
Is doubtful whether there will be
one. ' ,
i 1 1
There will be no gate admission
to baseball games at Notre Dame
this season. The sport will be
free to the public.
FOR FIRST-CLASS PRINTING
PHONB 2S2
First Lady Rides
Mr*. Franklin D. Roosevelt found
time to get away from a moat ?trenu
ons social and boataeas program the
third week in Waahington to enjoy a|
horseback ride im Sock Creek Parte. :
USE GOVERNMENT
LOANS TO BEST
ADVANTAGE
Some North Carolina farmers
who are tiling governmental seed
and fertiliser loins to finance
their cropa thla season have been
given the impression that' they
must bay certain brands or mater
ials in expending the money to
them.
This is an error. According toi
advices received by Dean I. O.
Schaub at State College from the
director of crop production loans
In Washington, the regulations
governing these loans do not con
tain any requirements or sugges
tions to borrowers as to the pur
chase of any particular brand or
manufacture. Director C.. W.
Warburton says borrowers are
free to use the proceeds of their
loans for any needed supplies
within th& regulations, using their
best elf oils to obtain the best pos
sible value for tt)e money expen
ded. It is not a part of the duty
of the supervisors to suggest or
direct crop loan borrowers to bay
goods of any particular brand or
manufacture or to purchase sup
plies from any particular source.
Mr. Schaub says this informa
tion shoold clear ap this confus
ion at once. Tarheel farmers bor
rowing from the Government seed
loan fond should use the money
to the beet possible advantage,
buying where best prices can be
secured and obtaining the best
materials possible with the mon'
ey available. The regulations do
not ssy that a borrower has to
buy s certain kind _ of nitrogen
fertiliser, for Instance, If lie be
lieves some other kind would give
better results, or would be a bet
ter buy for his particular condi
tions.
Statistics show that one-half of
the soldiers who ar* discharged,
re-enllst. A similar per cent pre
vails when man get married after
being divorced, which shows that
some people never get enough
fighting.
With rourth of July nearlng,
one wonders what has become ol
the old fashioned, long haired or
ator that ased to speak for a cou
ple of hours while the firecrack
ers were popping oC all around
the stage
Subscribe to Ths Franklin Timet
|SH little
i OlD^
Pew vork
bu CARLH.6BTi
The other day a New York* depart
ment store sold 12,000 pounds of nuts
in three and a half hours.
* * *
Instead of playing football, Long
Island (N. Y.) University students
have taken up horseshot-pitching.
?"? ??
Trinity Protestant Episcopal Church
in New York is the richest church in
America. It has assets in excess of
eighteen millions.
? ? *
In need of money, a New York
woman decided to rent her phono
graph records. She is doing well.
? ? ?
In 1905 there were 800 hotels in New
York. Today there are 500.
? ? ?
Twenty -eight years ago there wer?
350 restaurants here. Today there are
nearly 5,000 restaurants in the city.
? ? *
There are 200 chiropodists in New
York.
? * ?
The popularity of jig saw puzzles
continues. One company is turning out
'more than 3,000,000 a week.
. ? ? ?
One organ-grinder about town no
longer has to run his hnrgdy-igurdy by
nand It now runs with a small electric
motor and an automobile storage bat
A group of York mothers com
plained that these blood and thunder
radio sketches art doing their children
ho good.
? ? ? *
Advertising signs have found their
way into the interior of the Grind
Central Station for the first time.
* . ?
A mouse appeared in a crowded
lepartment store here the othei day
and not a single woman yelled.
? ? ?
It is said that when beer goes on salt
New York will see a celebration
similar to that seen on Armistice Day
at the end of the World War.
? ? *
Grass was seen growing on a down
town street the other day and a news
toper commented upon the fact
? * * !
Unless differences are ironed out be-j
tween theatrical producers and stage-,
hands, New York may he without anj
legitimate theatrical shows. ? j
Germany and United States
On the left it Dr. H*n? Lather, sew German Ambasiador to the United
States, succeeding Fredrick Elm von Prittwit*. On the right is Dsrid H.
Morris of New York, new American Ambassador to Germany, nominated
by President Rooserelt daring March.
Another Ruth Smile
Most certainly Ifiai Jnlia Bath,
ttep -daughter of Babe Bath, is
iappv. Daddy has signed a $52,000
?ontraet for playing baseball another
rear . . . and Julia, well (he beauti
!ed for New York state in St Peters
burg annual festival.
Bowls 300 In A-B.C
Jack Karsten, U.S. Army, iter
tioned at Ft. Sheridan, 111., turned in
a perfeet ' ' 300 ' ' aeore in the A.B.O.
bowling congTeea and will neaWs a
gold medal. Karaton 'a record haa
been equalled only twice In the his
tory of A.B.C. tournera.
FOR FIRST CLASS PRINTING
PHONE 283
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Citizens Bank & Trust Co.
OF
HENDERSON, NORTH CAROLINA
? '? i *
Wishes to announce to it's friends and patrons
that Mr. K. L. Burton, has been elected Execu
tive Vice-President of this institution by it's
Board of Directors.
Mr. Burton has resigned his position with The
North Carolina Banking Department and his
r
resignation has been accepted to b e effective
April 30th, 1933. '
On May 1st, 1933 Mr. Burton will assume his
duties as an officer of Citizens Bank & Trust
?
Company and his entire time will be devoted
i
to the services of this institution
All of our present officers together with the new
member of our official family, Mr. Burton, will
be pleased to give to our many friends their
personal attention, and to render the same ser
vice on which our friendship and satisfactory
business relations have been built.
J. BAILEY OWEN, Chairman of the Board of Directors
W. A. HUNT, PrMident . R0Y BODWELL, Cashier