WARNING TO
EMPLOYERS
Babson Says Some
Are Shortsighted
By Roger W. Babson
New York City, June 28. ? j
During the past fev weeks I have |
directed this col
umn to various
groups of peo
ple, ? colored
workers,, white
workers, unlou
labor, parents
and investors.
Permit me this
week to give cer
tain employers
some good ad
vice. This es
pecially applies
to the older men.
There are many
ft
BABSON
young forward-looking employers,
but the stage has been stolen by
the "die-hards."
INSTALLMENT SALES
As a part of my education, I
attend group meetings of various
kinds,? church, social, scientific,
labor and employers. All these
groups ? with the exception of
the latter ? have a definite con
structive legislative program to
make a better nation. We em
~ ployers, however, present little
constructive legislation. We have
asked only for "lower taxes and
to be let alone." I am sure this
is a mistake.
Some economists recently dis
cussed whether installment sales
? which have temporarily been
restricted under Presidential Or
ders during the War ? should be
REGULATED after peace comes.
They claim that to stabilise em
ployment, installment purchases
should be ENCOURAGED during
depressions but RETARDED dur
ing booms. This would be sound
practice; but what do most em
ployers say? They reply, "No!
The government should let us
alone to handle our own creditt
as we d-mn please."
ACCIDENT COMPENSATION
Labor has made an appeal for
much more extensive accident
compensation laws through a
government insurance company.
The argument Is that employers
will hesitate to employ returning
soldiers who may have any de
fect of eyesight, hearing, lame
ness or otherwise, believing that
such persons are more liable to
accidents. To encourage employ
ers to employ such, labor leaders
urge an extension , of industrial
insurance. Do most employers
agree? No! They insist that
the government should "keep
hands off"; while their insurance
friends yell "Communism". Is
such an attitude by manufactur
ers and bankers wise?
REGULATING INVENTORIES
Credit men have suggested that
legislation be enacted whereby
inventories would be regulated In
some way. One reason for unem
ployment is because stocks of
raw materials and merchandise
at times become so large that
manufacturers and merchants
? suddenly stop buying. These
' credit men claim that normal in
ventories tend to keep employ
ment normal. But here again,
too many employers say, "No!"1
They demand "free enterprise,"
freedom to inflate or deflate and
freedom to speculate or to hoard.
Too many of us want freedom for
ourselves without thinking of the
other fellow's welfare.
TAXING UNUSED
"DEPRECIATION"
Accountants believe that some
relation should exist between de
preciation, replacements and cor
poration taxes. They say that
during a depression employers
continue to* charge vast sums to
depreciation to save taxes, but
they do not spdtid the money.
Hence, this policy makes the de
pression so much worse. They be
lieve that during a depression.
SIXTH YEAR ? Colonel Edgar H.
Bain of Goldsboro, shown above, is
serving his sixth year as state direc
tor of the Brewing Industry Founda
tion's North Carolina Committee. He
supervises the beer industry's volun
tary " cooperation" program In this,
state.
when depreciation money is not
spent for replacements, it should
be taxed; while during a boom, it
should be taxed if it is spent.
Well, this suggestion has caused
some employers to set up a big
1iowl. Perhaps the idea is crazy;
but there is no harm in discuss
ing it. i
Just, one more illustration:
Many farsighted insurance men
believe it is not healthy for the
country to forbid savings banks,
life insurance companies and
other institutions from buying
"equities." To force them to
buy so many governments is
keeping funds away from small
businessmen and homebuilders.
"It is O. K.'\ they say "to forbid
us from buying the stocks of
corporations which have bonds
outstanding; but, in the interest
of the public, we should be al
lowed to invest a certain propor
tion of our funds in the equities
of companies having no debt, ?
^specially during depressions."
This sounds sane to me. Cer
tainly, this is something that
employers could get behind.
The English Minister of Re
Construction, Lord Woolton. is
now considering some very prac
tical recommendations to stabilize
jnemployment by synchronizing
and adjusting public works, ex
ports. investments, taxes, interest
charges and railroad rates to bus
iness conditions. His plan is to
decrease the first three in booms
and to increase them in depres
sions; but to Increase the last
three in booms and lower them
during depressions. I understand
that our U. S. Committee on Ec
onomic Development is busy mak
ing studies. But such studies have
been made before. The library
of the Department of Labor is
full of them. But here is the
rub: Too many manufacturers,
employers and bankers seldom
present these proposed employ
ment aids to Congress as definite
legislation. Furthermore, if labor
submits them, the employers' as
sociations usually fight them. I
repeat that too many employers
ask ONLY for lower taxes and
to be let alone!
FAT SALVAGE
Raleigh. June 20. ? Housewives
and other persons who collect
waste kitchen fats will continue
to be paid both in ration points
and cash for all household sal
vage fats turned in to food stores,
Theodore S. Johnson, district di
rector announced.
The current rate of payment is
two red points and four cents a
pound.
Officials said they had noted a
decline recently in salvage collec
tions and urged housewives to
save "every possible ounce."
ATTENTION FARMERS I
We are now ready to receive the
New Wheat Crop.
WE WILL EXCHANGE TOUR WHEAT,
WE WILL STORE YOUR WHEAT, OR
WE WILL BUY YOUR WHEAT AT THE
MARKET PRICE. '
GIVE US A CHANGE TO HANDLE IT FOR
YOU, AND FOR SATISFACTORY BAKING,
TRY OUR ZEB VANCE, VANCO AND VAN
ITY FAIR FLOUR.
Vance Milling Company,. Inc.
(Old Vanco Mills)
HENDERSON, N. C.
L. M. Bollock, Pres. W. 1. Alston, V. P. A Treaa.
? SOIL CONSERVATION ?
? NEWS ?
? ?
* By ,\V. O. Ijimhcth *
? ??**?? V V* ? ? ?
Howard Qir '.e, !ji?ui?burg,
Route No. 1, harvested 115 busn
el8 of oats from a 2.4 acre plot
last week. Howard has been fol
lowing a planned soil conserva
tion program since May 1P36 and
now has Ills land built up to the
point where he can expect in
creased yields on all his crops. He
follows a three year rotation and
plants every row on the contour.
J. L. Strickland seeded an aero
of sericea lespedeza this spring
on his farm below Seven Paths.
Claude Collins has one of the
best victory gardens in Louisburg
this year on the lot immediately
behind the City Armory. Mr. Col
!lns has spent a lot of his spare
time this spring working in his
garden and is now beginning to
reap the benefits. Gardens are
looking well over most of the
County and are contributing a
great deal to the Food Produc
tion Program our government is
stressing.
J. F. Parrish of the Moulton
Section says he has found that he
can grow small grain cheaper and
with less labor than he can corn.
He is growing 15 acres of corn
on one of his farms now and will
cut that down to eight acres next
year and plant the difference in
small grain. Mr. Parrish had ten
acres of wheat and six acres of
barley this year and was very well
pleased with the yield. Complete
soil conservation plans were mad
recently on all three of his farm
T. S. Dean attended a meeting
of the District Supervisors of th ?
Tar Klver Soil Conservation Dis
trict at Henderson, N. C. last
Thursday. Mr?"Eeun and the oth
er four Supervisors from Gran
ville, Vance, and Nash Counties
are tremendously interested In
[conserving the basic natural re
source of this section. They real
ize that the American farmer
'loses 400 million dollars worth of
soil every year by erosion, and
that serious damage Is done to
highways, railroads, rivers, har
bors, and reservoirs. So these
gentlemen are donating their
services to working out ways and
means by which this enormous
| loss can be cut down, and as
sistance made available to the
farmer to help him conserve his
own soil and water. They are do
ing an exceptionally good Job and
are to be commended for their
public spirited attitude.
Thirty herbs can be grown In
a 10 by 20 foot garden, says L.
G. McLean, herb research man
for the Agricultural Experiment
Station at State College. Details
are given In Extension Circular
No. 273.
? On pay Day, Buy Bands?
No Relief
?
Temperatures soured |<> more
than KM) degrees In |lie South
Sunday. In Millie el ties the heat
was aggravated by a shortage
of ice.
No relief is likely for the j
ii'?\t two days, tin1 weather
forecaster in Atlanta said.
Albany and Hainbridge, (la.,
and Kaleigli, X. C. sweltered in
I OS-degree temperatures. Those
were the hottest points report
ed by the weather man in njil
afternoon, but the mercury
rocketed to 101 in Columbia, S.
and Augusta, Cia. That also
was the official reading at the
naval air station near Atlanta.
Other tempertures: Colum
bus, Miss., Wilmington, N. C.,
| Tuscaloosa, Ala., and ? Itutler
and Adairsville, Ga., 100; Ma
con, (ia., Montgomery, Ala., and
Tallahassee, Kla., 90; Atlanta,
Suvannah, tia., Richmond, Va.,
and Dofluin, Ala., OK.
In Savannah, Ga., (be mer
cury on Saturday/ climbed to a
I record for the date of 101.
On Sunday and .Monday the
local weather bureau in charge
of Mr. R. A. Bobbin, reported
high temperatures of 102 each
day.
One may have an abundance of
| things without having the abun
jdant lite.
Dutch Marines Train In U. S.
U. S. Marin* Corpi Pho#
Time is not wasted by Dutch Marines conditioning for combat daMw
at Camp Lejeune, N. C., training base of U. S. Marines. They mate
every minute count by double-timing between classrooms, barraaB
and training areas.
Advertise in The Franklin Times
ITS TEAMWORK THflF DOES IT
........ ...
The 5th War Loan Is Now On
"Y^T^HEREVER your invasion forces are fighting? at sea, in the air, oil
W the ground? they're working together for victory. They know
that they must depend on each other, for only by coordinated teamwork
will they win through to final victory in the earliest possible Hum.
The Fifth War Loan is NOW ON. 'It's going to take teaaowork ?
a lot of it? to put this drive over the top. For we've 'got a job to do.
As the tempo of invasion rises every one of in most mobilize for
support of our fighting men.
In every city, town and hamlet men and women like yourself, have
banded together as war bond Volunteer Workers, giving their time to
taking your subscriptions for?bonds. Support them. Give them the
kind of teamwork our boys are giving to each other on the fighting fronts!
When your Volunteer Worker calls, double
your war bond subscription. It's their job to
help raise $16 billion of money for victory
during this Fifth drive, $6 billions from in
dividuals like yourself.
Make up your mind to welcome your
Victory Volunteer with a friendly smile and
an open checkbook? remembering that it's
teamwork that does kl
BficA fcMnt/- EOT MORE THAU BEFORE!
5" WAR LOAN
Here's What Uncle Sam Offers You
In The Fifth War Loan
The "basket" of securities to be sold under
the direction of the State War Finance Com
mittees daring the Fifth War Loan consists of
eight individual issues.
These issues are designed to fit the invest
ment needs of every person with money to
invest
The offering inchdes:
? Series E, F and G Savings
Bonds
? Series C Savings Nates
? 2V4% Bonds of 1965-70
? 2% Bonds of 1952-54
? 1 V4% Notes, Series B -
1947
? Certificates of In
debtedness
HOME FURNITURE COMPANY
LOUISBURG, N. 0.
- : it
This is an official U. S. Treasury Advertisement? prepared under augpicfes of Treasury Department and Advertising Council.
?" ; -M