North Carolina Newspapers

    The Carolina Watchman
CAPITALISM . . . defined
People speak of capitalism as if
it were some sort of an organized
plan imposed upon people unable
to help themselves. Capitalism is
merely a name for the system which
has grown naturally out of man
kind s ability to produce a surplus
of wealth beyond immediate needs.
Capital is nothing but wealth not
required for productive use at the
moment. Every man who has a
dollar in a savings bank and does
not need it is as much a capitalist
as a millionaire is.
Capital is destroyed only when
it is consumed by individuals. It
is not lost when it is invested in
permanent things, like buildings
and railroads.1 The individuals
who invested may lose, but the
building remains. The outcry
against capitalism is not really aim
ed at the system, which is the only
system unjjer which real wealth
ever accumulates, but against indi
viduals who divert too high a pro
portion of their temporary share of
the world’s capital to non-social
. . . otate own^a
Stripped of all of its sophomoric
entanglements, the essence of So
cialism is not the abolition of capi
tal, but the ownership otf all crpi
tal by the State. The tendency
in that direction has been grow
ing stronger for mbre than a
hundred years. Private capital
used to build and operate highways
and bridges, charging toll for every
traveller or vehicle that used
them. Long ago those enterprises
became investments of public capi
■ Agriculture, fishing, mining and
manufacturing are still in the hands
of private capital. The complete
Socialist program would make all
of those functions of the State.
REGULATION . . . U. S. aim
What we seem to be heading for :
in America is a compromise be
tween uncontrolled private Capi
talism and complete Socialism.
The compromise is the continuance .
of private Capitalism under State '*
regulation. We have had that in c
the case of railroads for fifty years. ’
It seems to be close at hand in the
matter of telegraph, telephone and '
radio communications.
At the same time, there is an. in
creasing tendency tq apply State
capital to long term, enterprises
which do not promise a direct re
turn in dividends, but which are
presumably justified by their so
cial value. This includes such
things as parks, many classes of
highways, public buildings, anjd
similar enterprises. Private Capi
tal is not interested in these non
productive ventures.
TAXATION ... it is distributed
Since capital is merely the sur
plus product of labor above what j
labor received, the question whether
that surplus belongs to the em
ployer or ta the labor which pro
duced it is a vexed question that,
in its turn, is the subject of con
tinuous compromises, out of each
of which labor gets a proportion
ately larger share.
Since public capital is exactly
like private capital—that is, the
surplus of wealth above what is
consumed in the course of its pro
(Please turn to page two)
mv w m m
loung Lea may
Get Liberty Soon
Parole of Luke Lea, Jr., within
a short time became a probability
when Judge M. V. Barnhill, who
sentenced the young Tennlesseean
and his famous father, Luke Lea,
Sr., to prison for bank law viola
tions, recommended executive
clemency for the son after he
serves 60 to 90 days of a two to
six-year term.
The Rocky Mount jurist, in a
letter to Parole Commissioner Ed
win M. Gill, based his recommenda
tion on the opinion that it was
"natural’’ for young Lea to follow
the lead of his "domineering” fa
ther in illegal bank trasactions
"even knowing that what he did
was wrong, as it is for a young
duck to take water.”
Gill said he expected to present
the leter to Governor Ehringhaus,
who alone holds the power of pa
role. If the governor acts favor
ably in the recommendation, it is
possible for Luke, Jr., who is 24,
to be released sometime in July or
August as the young man anjd his
father entered state’s prison fin
May 10.
Report Gain Of
136 Per Cent
Over ’33 Period
Road Building Leads List, With
Industrial and Engineering
Work Second
Construction of Dwellings leads
In Private Work With Con
tracts of $9,034,000
The south during the first five
months of 1934 showed an increase
of 136 per cent in contracts
awarded for engineering, building
and construction! projects over the
same period of last year.
Fgures compiled by the Manu
facturers’ Record for 16 southern
states reveal that contracts totaling
$234,716,000 were awarded from
January to May, 1934, as against
$99,277,000 for the first five
months of 1933.
Road building leads the list of
major classifications, with con
tacts totaling $98,776,000 being
et during the Jaijuary-May period
ndustrial and engineering proj
ects are in second place with
wards of $69,907,000.
Contracts for general building,
lcluding apartments, hotels, banks,
ffices, stores, churches, and homes
rere valued at $14,771,000. Public
milding contracts were for $51,
!62,000. Contracts called for $14,
'32,000 to be spent for construc
:ion of school buildings.
Construction awards in the
Continued on page eight
Lloyd Casey, 27, was stabbed by
Bill Teague at the Walnut Grove
township voting place in Wilkes
county Saturday afternoon. Tea
gue is in jail. Hfe admits stab
bing Casey, but jays he did it Only
after Casey had inflicted a number
pf knife wounds on his body.
The crushed bodies of Mr. and
Mrs. Riley Smith at Van Horn,
Texas, were found Sunday in the
burned embers of their home.
Smith was a well-known) and
wealthy cattle-breeder. Theory is
that he was killed and his body
carried into the home, to which
the torch was applied.
Chattanooga, Tenn., is the meet
ing place this week of the United
Confederate Veterans for their 44th
annual runion. About 1,600 are
in attendance. The spirit of the
leaders is that so long as there are
as many as two .living veterans of
the civil war who can attend they
will continue to hold these re
Nineteen-year-old Charles Hass
t'ook his own life in a wooded sec
tion near Sawmills in Caldwell Co.
last week by sending the discharge
from a 12-gavlge shotgun into his
left breast. His body wass dis
covered by Mrs. W. C. Hass, his
stepmother. He had left the home,
seven miles south of Lenoir, osten
sibly to kill hawks with the gun.
t> _ 1 * _ 1_ . . i i f < i .
ivaici^u IUW41U a 3U1 n-j1
for rural electrification in North
Carolina were taken when a special
committee named by Governor
Ehringhaus to study the problem
met with the chief executive and
then conferred among themselves.
Declaring the problem of pro
viding electrical power in rural
sections presents a "tremendous
challenge,” Governor Ehringhaus
pointed Out the utilitarian value of
such a program and commented on
its social implications.
Following a conference with the
governor, the committee adjourned
to the office of Dean T. E. Brown
af State college, where the matter
af technique of procedure in the
survey and accumulation of factual
information was discussed.
Dean Brown said D. S. Weaver,
professor of agricultural engineer
ing of the college was considered
best fitted to coinduct the investi
gation, and tfiat Dean I. O. Schaub
af State’s school of agriculture
svould be asked to grant Weaver a
leave of absence.
Governor Ehringhaus told the
committee the proposal was not de
signed to antagonize power com
"If it can be found there is a
feasible way to provide power to
i anna au a reasonable oust ana en
courage its use in farm homes and
an farms, it should aid utility com
panies,” he asserted. '
"Every proposed line must be
considered in the light of support
ing itself and yielding a reasonable
profit on the investment. If pow
er companies find they can increase
volume and ,use waste power in
this way, it should benefit them
md the people of the state both.”
Newton,—Deputy Sheriff Ray
Pitts, shot by a machine-gunner
several weeks ago with Newton
night Policeman Arthur Huffman,
lias been discharged from the hos
pital, and is back at his home here.
Neither officer will be able to
work for some time. Pitts, popu
lar locally, was badly crippled by
reason of getting shot in the back.
However, it is expected that in
time his injuries will heal.
Some people think that walking
is becoming a lost art, and busi
less men will say that walking up .
o their offices to settle the old ac
counts is becoming so with many
Do You Know The Answer?
Continued on Page Eight
1. Can cats see in total dark
. t
2. Can the President of the t
United States be arrested?
3. In what year did the battle >
of Cold Harbor occur?
4. In what county in Florida (
is the city of Miami?
5. What are troches? i
6. What does the' name Leona
7. Who laid the cornerstone of
he United States capital building?
8. Where is Onio Northern uni
9. Which country has an army
•egiment called the Cold Stream
10. Who wrote David Copper
.. la _
ISTIC—Stream' lines, gay lac-1
quers, rubber tijeads and polished
metals have been used by the
Otis Elevator Company to mod
ernize the moving stairway. Flood i
lights illuminate the landings,!
♦he canopy carries advertising!
messages, and the enclosure I
houses display cases. V
Paul Codos (left) and Maurice j
Rossi, noted French airmen, re- 1
late over the microphone the 1
story of their flight across the'8
Atlantic upon their arrival at11
Floyd Bennett Field, New York'
-••^",Mv!,‘*J. .7-• •
:.y =lhe man of the next century will
jjp£ live longer, air planes will be!
9L powered from ground stations' t
HL‘ and electric motors will be oper-j <
ated by sunlight, were among thel "
■| predictions at a dinner on th«j 1
Hj eve of the reopening of A Cetvj s
jl tury of Progress. Left to right,
!*T Mayor E. J. Kelly, Chicago; i
t ‘ Charles F. Kettering, chief of re-J \
/ search. General Motors, and A*
I fred P. Sloan, Jr., president Ge?v
eral Motors. T -“il |!
—Despite the fact
that he lost his
w e I terwei g h fr*
crown Jimmy Me
Larnin (left) put
up a stiff battle
against Barney If
Ross at Madison Si
SPEED*—The Burl'ngton’s
“Zephyr,” all-aluminum Win
ton Diesel-powered train, as
it was greeted at the Cen
tury of Progress Exposition
in Chicago. The train set a
world’s record for speed,'
having made the 1,015 mile
trip from Denver in 13 hours
man Delman. H
» noted shoe ■
» designer, ■
' shows M iss ■
Phyllis Gil. 8
mani New ||
York model, ||
some of the pi
coming sum* Kj
m e r sense* |
tions in foot- fe
wear, includ- j
ing the new |
open cut pas- 8
tel sandal. 8
' i
thur Kudner. |i|
President of II
Erwin, Wa- I
vey & Com- I
jany, New I
York, wasff
elected chair
man of the
Board of the
American As
sociation of
Advertising ■
Agencies at H
itsconvention B
• n the May-1
'.ower Hotel B
at Washing-B
Rowan Incumbents
Are Renominated
___ 1
Coggin Gets 5,021 Votes to Long’s 1,500 In'
Solicitor’s Race; County Board Renominated'
• 1
Incumbents in Rowan county
were renominated by the Democrats
with regularity in the primary
tontests Saturday.
Charles L. Coggin, in the race
for solicitor of the ISth judicial
listrict, with all of Rowan’s 3 3
ooxes reported, led in this county
with 5,021 votes, Long getting
[,520. Returns from over the dis
trict show Coggin with a majority
>f approximately 3,500 to give him
the nomination over Long, who has
aeld the office for more than 10
J. W. Bean, incumbent, and
Seorge R. Uzzell, member in 1931.
were nominated for the house of
reprsentatives; while J. Allan
Dunn, now county judge, won the
nomination for the state senate.
Sheriff J. H. Krider, Register of
Deeds, W. D. Kizziah, ar*d Auditor
J. E. Haynes were renominated by
large majorities. The present board
of county commissioners, R. L.
Bernhardt, O. L. Linn, T. M.
Byrd, C. A. Long and J. T. Gra
ham, were also renominated.
W. V. Harris won the nomina
tion for prosecuting attorney of
the county court by a small ma
The returns follow: Solicitor
15th judicial district: Charless L.
Coggin 5,031; Zeb V.. Lqng 1,520. ■
State senator: J. Allan Dunn, 5,
115; C. P. Barringer 1,315.
House representatives: Two to .
be nominated, J. W. Bean, 3,965; ,
J. W. Rideoutte 2,657; George R.
Uzzell 3,718; Joseph C. Kesler, 1,- ]
Register of Deeds: N. L. Hart- (
man 480; W. D. Kizziah 4,696; R.
M. Lewis 1,316.
Auditor: S. A. Russell 2,193; J.
E. Haynes 4,309.
Sheriff: J. HL Krider 5,479; C.
S. Julian 990.
Prosecuting Attorney, County
Court: Joihn C. Kesler 2,820; Vm, <
V. Harris 3,544. i
County Commissioners, five to
be nominated: C. A. Long 4,195;
O. L. Linn 4,224; W. R. Current
2,726; R. L. Bernhardt 4,874; J.
C. Bernhardt 1,849; J. T. Graham
3,487; T. M. Byrd 4.769; C. L.
Neel 2,547; Whit D. Graham 2,
The special school election call
ed Tuesday to vote on an addition
al tax of 10 per $100 valuatidn on
real estate was defeated by approxi
rnately two to one vote against.
Fire Damages
Furniture Store
Considerable damage was done
o the Rustin-Johnson Furniture
tore on West Innes street, near
he heart of the business section,
ruesday at noon by fire of unde
ermined orign that broike out in
he used furniture department on
re second floor and at the front of
he structure.
Damage to the building, which
s owned by the late George W.
bright estate, is estimated at from
>1,500 to $2,000; while damage
:o the stock awaits word from the
nsurance adjusters. Quantities of
moke did much damage to the
Furniture section I'upstairs; ^vhile
nuch water ran into the first
laor and marred the better grade
>f stocks there.
Doughton’s Daughter
Gets Democratic Post
Washington*—The appoiitment
)f Miss Reba Doughton, daughter
>f Representative Doughton of
Vorth Carolina, as an assistant to
:he executive secretary of.>; the
Sfoung Democratic Clubs of Am
:rica, was announced by Cliff
Woodward, president of the orga
nization. "*
Miss Doughton will join the Ifead
ijuarters staff here June 15.
The country suffers from an ep
idemic of kidnaping, and dognap
ing and catnapiipg, are also com
plained of, but down south they
;ay the colored brother has always
14 Destroyers
Will Be Built
For U.S. Fleet
six Submarines and Four Cruisers
Also on List to be Constructed
At Once
TO COST $40,000,000
New Ships Will Strengthen the ,
Fleet which is deficient in
Treaty Strength
In the navy’s first definite move
toward treaty strength, Seer.vary
Swanson has approved plans for
the construction of 24 naval ves
Fourteen destroyers and six sub
marines, Swanson said, will be the
first ships built under the Vinson
plan to lay down by 1939 the 102
remaining fighting craft permitted
by the treaty.
Thpir will hp rAnctrnrffvl with
$40,000,000 of earmarked public
works funds to be provided in the
deficiency appropriation bill pend
ing in the senate.
In addition, one heavy and three
light cruisers will be built out of
current appropriations from speci
! fixations already approved. Swan
son said the navy hoped to open!
bids some time in August.
The secretary's announcement,
made in the interlude before pre
|liminary naval conversations open
{June 15 in Lbindon, fpllowed a
statement by President Roosevelt
that no new definition of naval
policy would be made in advance
of the conference.
- Any announcement, Mr. Roose
velt told the press, will be made
at London by the American spokes
men headed by Norman H. Davis,
The new destroyers and sub
marines will strengthen the fleet
in categories in which it is most
deficient under treaty limits and in
which it has the largest proportion
of over-age ships.
The United States, under treaty,
can lay down before December 31,
1936, 65 destroyers stotalirtg 99,
200 tons and 30 submarines ag
gregating 35,530 tons.
The craft for which plans were
approved Wed. will bring these
totals down to 51 destroyers of
about 77,500 tons and 24 subma
rines of around 27,730 tons still to
be built.
Nine Nurses
Graduate At
Rowan General
Graduation exercises were held
at the Yadkin hotel ballroom Wed
nesday night for the 1934 class of
the Rowan General hospital. Nine
nurses received diplomas. The
speaker for the occasion was J.
Allan Dunn, Democratic nominee
for state senate.
The nurses who received their di
plomas are as follows. Esther At
kins, Gold Hill; Dorcas Chisholm,
Spencer; Murtitia Hod gin, Red
Springs; Irma Drye, Mathews; Lucy
Mebane, Mebane; Ada Steel, Me
bane; Ruth Bost, Salisbury; Janie
Bur gin, Old Fort; Lucile Finch,
Raleigh. Little Jean McRae was
mascot for the class. The mem
bers of the class presented an at
tractive sight as they filed by to
receive their diplomas.
The Dill-Rayburn commulnica
tions control bill which sets up a
commission wifh full regulatory
powers over the nation’s telephone,
telegraph and radio system has been
passed by the House and sent to
conference. . .. ■l-rvl.i aHfid

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