mMlMTQH
Other View of Debt.
For “Constructive”
Purposes.
The New Deal Aims.
A Hopeful Outlook
Washington—By spending a few
thousand millions less than the
United States spent for the Great
War, President Roosevelt hopes and
expects to re-establih the economic
balance and at the same time to
establish a "planned social-economic
order” which will insure the nation
against future booms as well as fu
ture depressions and make a recur
rence of widespread distress, f'nan
cial loss and general unemployment
impossible.
That is in essence what is behind
the budget which he submitted to
Congress. When he laid figures be
fore the Senate and House of Repre
sentatives which contemplate the
borrowing by the United States of
.1_-_L:11!__r J-ll_ ■
tUlOLUVl l-CJl Vi UVlllIl J 111 Uiv.
next year and a half, the size of the
sum proposed to be spent to carry
out the purposse of the New Deal
staggered those who were nor pre
pared for it. It set the computers
to work to figure out what would
be the size of the National Debt
when this money shall have been
borrowed. And the total, any way
it is figured, comes to nearly 32
billions of dollars.
To owe 32 thousand millions is|
incomprehensible to tie average
person. Few people, even great!
financiers, can think in such terms.;
Only a government, and a veryj
strong government, can even con
template it. But governments do
not think of debts as something!
pressing for payment, they have
to think of them as something to
pay interest on. So what such a
debt will cost, if the interest is fig
ured as high as 3 per cent, will be
less than a thousand million a year,
or only about a third of the- ordi
nary expenses or rf;e government.j
l;hen it is looked at that way,j
i further thought is kept inj
fiat a great deal of the money
_ as been borrowed so far, and
^that" it is proposed to borrow, to
make up the grand total of the ,
public debt of 32 billions has been1
and w'ill come back, in time, from ,
those sources, it doesn’t seem so
much like something to worry
about.
Even Senator Reed of Pennsyl
vania, whG is certainly no friend of
the Jlew Deal, admits that the bur
den proposed does not seem exces
sive. It is barely half of the Brit
ish public debt, svhich is borne by
fewer than half as many people.
It is ten billion dollars less than the
United States spent during and after
the Great War, for war purposes, ,
not counting the money we lent to ,
our Allies. i
i
The high peak of the American
national debt was in 1919, when
Uncle Sam owed almost 26 billions. :
Klllirsnc nf Use nUlrl
off in the past fourteen years. As '
the Treasury figures it, the pro
posed 32 billions of debt will figure
out at only about $250 per
for the entire population, so the
cost of carrying it, at 3 percent, 1
will be about $7.50 a year for every
man, woman and child in the Unit- ■
ed States. And, naturally, it is <
strongly believed that it will im
prove everybody’s economic condi- i
tion by a great deal more than that
to have this huge volume of money!]
put into use, to employ labor, pur-|:
chase materials and improve the ]
physical condition of the nation.
The money raised for war was ex- .
ploded, thrown away, wasted. This ]
money wll be used for constructive, i
not destructive purposes. ;
That is the way the President, i
the Treasury and the Administra-j
tion generally look at the program;!
but beyond the matter of dollars.!,
the Administration is looking ahead!
to the "more abundant life,” which;
is the avowed aim of the New Deai,|(
and which it is hoped to bring about!;
by Federal aid in the next two or ■
three years. .
As it defines itself through day- i
to-day developments, the aim of
the New Deal is neither outright
Socialism nor a return to uncon
trolled Capitalism. It is, rather,
controlled Capitalism. Controlled
in that it is conceived to be the
duty of government, not to prevent
business from making profits, but
to keep the accumulation of those
r.outs from becoming a menace to
the ordinary citizen, at whose wel
Continued on page four
TIE: 1. 1
FOUNDED 1832—101ST YEAR SALISBURY, FRIDAY MORNING.
i'J» »1
WAYS AND MEANS COMMITTEE AT WORK
The House Committee which is to find the ways and means to pay the bill is at work. Picture shows the committee in session in the House Office Building. Fropi the left:
Seated—Morgan G. Snaders, (D) Texas; Jere Cooper, (D) Tenn; Thomas H. Cullen, (D) N. Y.; Samuel B. Hill, (D) Wash.; Chairman Robert L. Doughton, (D) North
Carolina; Allen T. Treadway, (R) Mass.; Isaac Bacharach, (R) N. J.; Frank .Crowther, (R) N. Y.; and Harold Knutson, (R) Minn. Standing—from the left—Clement C.
Dickinson, (D) Mo.; John W. Boehme, Jr., (D) Ind.; David L. Lewis (D) Maryland; Charles West, (D) Ohio; James V. McClintic, (D) Okla.; Daniel A. Reed, (R) N. Y.;
Roy C. Woodruff, (R) Mich.; Thomas A. Jenkins, (R) Ohio; and William R. Evans, (R) Calif.
NEWS
BRIEFS
WALKER D. HINES DIES -
Walker D. Hines, 63, director
general of American railroads in
1919-1920, and also former head
of the Cotton Textile Institute,
died in Italy Sunday of appoplexy.
MANY DIE IN ANDES FLOOD
Around 40 lives were lost and
damage of $8,000,000 done in
>udden floods which swept dowm
:he Andes mountain into Argen
:ina on the Mondoza river.
LAYWOOD HEADS U. N. C.
\LUMN1
Dr. Hubert Haywood, Raleigh,|
>f the class of 1905 has been chosen
ay university alumni as president
af the association for the year.
REYNOLDS EARNS
521,153,721
The R. J. Reynolds Tobacco
:ompany reports net earnings of
>21,153,721 for 1933 as compar
ed with $33,674,800 in 1932.
_ I
iTEED HEADS EMERGENCY
UNIT
J. G. Steed, of Mt. Gilead, has
aeen designated as executive head
)f the N. C. emergency council,
entrusted with supervision over
enforcement of codes of fair com-;
petition in industry and scrutiny of
:he various relief activities.
STATE BAR MEETS AT DUKE
The first meeting of the North
Carolina State Bar will be held at
}uke university on June 28.
K.IDNAP-KILLER TO DIE
It took a Columbia, S. C., Jury,
)ut 21 minutes to bring in a death
verdict, against Robert H. Wiles,
19, for the kidnaping and murder
>f Hubbard H. Harris, Jr., age 15.
JTII.ITIES MUST ALL REPORT
The state utilities’ commission
las ordered all utilities, municipal
s well as privately-owned, to re
>ort by April 1 the true December
11 values on property and other
ssets set up as a rate-making basis.
,ack of comprehensive informa
ion has hitherto blocked the rate
nission.
TOBACCO AVERAGE
S $16.11
Producers sales of tobacco to
fanuary 1 in North Carolina total
id 470,840,95 5 pounds at an aver
ige price of $16.11 per hundred
veight, the federal crop reporting
ervice finds. December sales were
J 5,684,528 pounds at average price
>f $17.25.
TEACHER FINED FOR
WHIPPING
Harry Wescott principal of the
grammar school at aWshington, N.
2., was found guilty in the record
er's court there for excessive whip
ping of a nine-year old student. A
sentence of 30 days on the county
•oads was reduced to a fine of $25
ind costs, from which the teacher
appealed.
N Railroads Turning to Motorized Streamlined Trains
—■ — ■imibii'iiiiiii —i—ii — WII wi ■! him—ii i nun imii nn iPii
j , CHICAGO: The above three trains represent the last word in streamlining as applied by the railroads. In the
foreground is a new Burlington three ear train which can operate at 40% of the expense of a steam locomotive.
Center, is the train introduced by the Great Western and which can travel at 60 miles an hour. Upper left; is the
Texas and Pacific train now running daily in Texas. It can attain a sneed of 78 MPH.
President’s Mother Buys
First Box For Birthday Ball
New York, Jan 19—Mrs. Jame
Roosevelt, mother of the President
today purchased the first box to b
sold for the Birthday Ball for th
President, to be held in the Wal
dorf-Astoria on the night of Jan
3 0 as one of the chain of balls whic!
take place in every city and towi
in the United States on that night
for the benefit of the Warm Spring
Foundation for Infantile Paralysis
A permanent endowment will b
created for the extension of thi
crusade against the disease.
>1 Mrs. Roosevelt telephoned the
.headquarters of the National Cqm
:imittee in the Waldcf this morning
"j to acknowledge receipt in her
i morning mail of an invitation to
J serve as a patroness for the ball,
i "I’d love to be a patroness,” said
, Mrs. Roosevelt, "and i want to en
i gage the first tier box, too. After
. all, it is my son’s birthday, and I
: am extremely interested in the
: splendid work of Warm Springs
I Foundation.”
Status of State I
Treasury Given
Raleigh—With a cash overdraft
of $2,761,290.32 in the general
fund and a cash balance of $5,
655,255.57 in the highway andi]
other special funds, the state treas- 1
ury had a balance of $2,893,965.2 5 1
in free cash at the end of the cal
endar year, December 31, 1933, ac- J
cording to the combined statement
of the auditor and treasurer, made!t
public by the budget bureau. >
Starting the month with a cash '
overdraft of $ 1,078,714.07, the!*
general fund collected only $1,3 33,-1.
078.54 leaving only $354,364.47, ;
while the month’s expenditures
were $3,015,654.79, (leaving the•!
overdraft of $2,761,290.32). In
the highway fund the month was (
started with a balance of $7,266,- <
291.13 and receipts for the month <
were $7,318366.52, giving $14,- <
544,657.65, from which disburse
ments of 8,889,402.08 were made, ;
leaving the $5,655,255.57. In the
six months since July 1 general j
funds collections have reached $13,- j
026,969.94 and highway fund col- ]
lections $21,117,864.06.
SEASON FOR
GAME NEARING
END IN N. C.
Raleigh—With the hunting sea
ons rapidly coming to a close,
sjorth Carolina gunners and fol
owers of the hounds are arrang
ng to get in their final trips afield.
The season already has closed
hroughout the state for water
owl, deer and squirrels.
Devotees of the chase have un
il January 3 1 to follow the hounds
n pursuit of opossums and rac
oons. Although the season for
tear has closed in the western and
entral zones, there is no closed
eason on this game in the eastern
one.
While the main seasons on up
and game, including quail, wild
:urkeys and rabbits already has
•xpired in the western zone hunt
rs have until February 20 in the
:entral zone and February 1 in the
astern zone to pursue these sports.
MRS. COLE BLEASE PASSES
Mrs. Cole L. Blease, wife of the
ormer governor and United States
enator, of Columbia, S. C., died at
ter home there Sunday following
i long illness.
President Seeks
New Money Dower
Would Manage Nation’s Currency
Through Revising Gold In
Dollar.
Washington—President Roose
velt turned to congress for new
powers to manage the nation’s cur
rency through revaluing the gold
dollar—probably around 60 cents
at the outset.
The calling into the treasury of
all outstanding monetary gold—
aggregating more than $9,5 00,000
—was the first step planned by Mr.
Roosevelt.
Under present law he is limited
to a 5 0 per cent reduction in anv
cut of the gold content of the dol
lar he deems wise.
In his act the president did not
actually devalue the dollar, saying
"because of wotld uncertainties I
do not believe it desirable in the
public interest that an exact value
be now fixed.”
"The president is authorized
by present legislation to fix the
lower limit of permissible revalu
ation at 5 0 per cent,” he added.
"Careful study leads me to believe
that any revaluation at more than
60 per cent of the present statutory
value would not be in the public
interest.”
The president said he wanted the
government to get any dollar profit
resulting from cutting the gold
rnnt'/'nt’ f Jiof- r\ £
, x -f I
such profits the government set up
a $2,000,000,000 fund for pur
chases and sales of gold in the for
eign exchange.
In the special message to con
gress he made it clear he was hold
ing to his "commodity” plans,
speaking of a future dollar backed
by gold "of such weight and fine
jness as may be established from
[time to time.”
GOOD
MORNING
The hen is immortal—her son
will never set!
Old lady: 1 wouldn’t cry like
that my little man.
Boy: Cry as you damn please,
this is my\ way.
Customer: "What’s wrong with
these eggs?”
Waitress: "Don’t ask me, I only
laid the table.”
She was a seamstress’ daughter
but she never made a slip.
The Flea—Now, I’ll hide on you.
The pup—Get out, this is my
hide.
jul. oay somermng, sort and
sweet to me, dearest.
He: Lemon custard pie.
Then there was the undertaker
who when he put ten coffins in a
truck, sighed: "Not a coffin, a
carload!”
"I hereby fine you $25 for pick
ing pockets.”
"Your honor, I only have $15.”
"Officer turn the prisoner loose
in the crowd until he gets the other
$10.”
"The time will come,” thunder
ed the lecturer on woman’s rights,
"when women will get men’s
wages.”
"Yes”, said the meek little man
in the rear seat. "Next Saturday
night.”
Distraught mother: Papa,,papa!
Baby has swallowed the kodak
films.
Father: Gracious! I hope noth
ing will develop.
HOW STATEN ISLAND
WAS NAMED
Two immigrants, standing on
the deck of the ship that was
bringing them to America, saw a
small island. The younger said
to the elder: "Papa, ’s t’at en .isi
land?” They call it that to this!
day.
A MODERN MIRACLE " '
Lot’s wife who looked back and
turned into a pillar of salt has
nothing on the lady- who looked
back and turned into a telephone
pole. No. The telephone pole is
not standing there to this day.
BIG BROTHER BLAMED
A kindly old gentleman was
walking down the street when he
saw a small boy crying. "What
is the matter, my little man?” he
asked. "Are you lost?”
"Yes,” sobbed the boy, "but I
suppose it’s my fault. I ought to
have known better than to conip
out with my big brother—he’s al
ways losing something.” _
YES! THEY DO!
Wives of great men all remind
us of it.
Help Furnish i
Blankets For
Welfare Wort
Carolina Mills of Spray Get The
Largest Portion.
CHATHAM SELLS 183,000 -
_ *
Leaksville Company to Supply.
65,000 and Cannon Mills -t
39,000
- !
The Federal Surplus Relief cor
poration has purchased 1,052,000,
cotton blankets from 13 companies
operating cotton mills in New Eng
land and the south. ■
The blankets are to be distrib-l
uted to needy persons on the re-,
lief rolls throughout the country.
'Tl • M
a pm-w it wan n la Lull.
at the corporation offices, from
99 cents to $1.29 a blanket.
The largest contract went to the
Nashua Manufacturing company-'
of Boston, which received an order
for 244,000 blankets, and the sec
ond largest to the Carolina Cotton
and Woolen Mills of Spray, which
will supply 183,04)0. The Chat
ham Manufacturing company of
Winston-Salem will provide 180,
000.
Other contracts awarded were:
Southeastern Cottons, Inc., New
York, 24,000 blankets; Cannon
Mills, Inc., New York, 39,000;
Leaksville Woolen Mills, Inc.,
Charlotte, 65,000; Whittington
Manufacturing company Boston,
36,500; W. S. Libby & company,
Inc., New York, 26,000; Clarence
Whitman & sons, Inc., New York.
75,000; Pepperell Manufacturing
company, -New York, 122,500;
Cone Export and Commission com
pany, New York, 19,500; and M.
j Silverman & Son, Inc., Philadelphia;
4,000.
Stagger System Is
Ordered For CWA
- /
Raleigh—The "stagger system”1
in CWA projects in towns of 2,500
or less has been authorized by the
national CWA authorities in in
struction received by Mrs. Thomas
O’Berry, North Carolina admin
istrator. This plan has been
sought by, but is still denied to
larger towns and cities Von the
theory that it costs more to live in
the larger units, even though there
are many not so employed.
The instructions provide that
projects that are waiting for the
quota to complete projects on which
they are at work may be started by
others unemployed and a cutting
down on the hours of the projects
generally. For instance, if a
county has a quota of 500 all at
work on projects approved, then
additional men may be put to work
on waiting projects. The hours o£
work for individuals may be cut
down from 30 hours a week to 15
or 18 or any other number of
hoursi above 15 a week. A check
up shows that the ratio of workers
under the new plan will be about
900 instead of an earlier 5 00, and
the hours will run 16 to 17 a
week, instead of the earlier 30
hours. Thus, in rural and small
town areas, the numbers of work
ers will be increased, but the hours
per worker and likewise the in
comes, will be reduced.
Woodson May Run
If Doughton Quits
Announcement has been made
by Walter Woodson, local attorney,
that he will positively not oppose
Representative R. L. Doughton in
the event the latter decides to run
for re-election; however, in case Mr.
Doughton decides to run for gov
ernor of the state or accepts the call
of the tariff commission, it is like
ly that Mr. Woodson will toss his
hat in the race for congressman
from this district.
It has been suggested also that
Zeb Vance Long of Statesville state
solicitor, and Tam C. Bowie of
West Jefferson, veteran member of
the North Carolina General As
sembly, might be candidates for
Mr. Doirghton’s seat in congress.