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Wall Street Crash: 'White Mondav"
Monday, October 19, 1987 was
not a good day for the stock mar
ket on Wall Street. Infact,ithas
been characterised by moat finan
cial analysts as "the worse day
o*«r." It was the day that the mar
ket plummeted 608 points, the
worst plunge in the history of Wall
Street.
On that day, I happened to be at
Emmanuel United Church of
Chriet in Lexington, Kentucky,
preparing to watch the national
evening news. The "NBC Nightly
Newe", anchored by Tom Brok
aw, began with the statement:
"This is Black Monday." Mr.
Brehaw was referring to the dis
astrous day which Wall Street had
j*1** experienced, being character
ised as "Black Monday." I began to
take strong exception to the use erf
.that phrase. It was not appropri
ate to characterize the day of fail
ure and calamity of this nation's fi
nancial center as a "black" day.
I know there are some who will
say that no harm was meant be
cause this term was first used
when the stock market crashed in
1929, signalling The Great De
prsedon. If I had been alive at that
time, I would have taken excep
tion then, too. The problem is that
this society associates failure ex- ‘
dusively with the color "black" at
the same time as it associates suc
cess only with the color "white."
Much of the media throughout
the nation also characterized the
Civil i
Rights'
Journal
recent failure aa "Black Monday."
We all know the power that the
media has in forming values. Let
us remember the context of this
discussion. We live in a racist soci
ety. To ascribe negative and posi
tive_values respectively, to the col
ors black and white is to enhance
the institutionalization of this
country1 s racist values.
Racism is both subtle and perva
sive. That is why the victims of ra
cism cannot afford to become si
lent and complacent. For too long
certain racist connotations have
become socially acceptable be
cause they have not been consis
tently challenged. For example,
some people still panic when a
black cat crosses their path. Devil's
food cake is chocolate cake; angel
food cake is white. In movies the
good guys wear white hats and
ride white horses; the bad guys are
identified by the color black. The
color white is associated with puri
ty; the color black with impurity. It
is okay to toll a little "white lie;"
and no one wants a so-called
"black mark" on their record. It is
within this context that we must
be ever mindful of the psychologi
cal damage that is done to the en
tire society by the use of connota
tions that have racist implications.
Let's look at what rsally hap
pened on Wall Street. The rrnyor
financial decision makers at the
time of both historic crashes were
. almost exclusively white males."
Now, this is not to suggest that
white males are prone to failure.
But it would have been more accu
rate, although not appropriate, to.
have labeled this day. "White
Monday."
The truth is that there will prob
ably be more bad day* for Wall
Street Any financial system that is
dependent upon the monopolistic
advantage of the rich over the
poor will inevitably fail. What wu
should all learn from this is that in
times of great national distress or
fear, more care should be taken to
prevent the use of negative termi
nology, particularly when that ter
minology injures those who have
had nothing whatsoever to do
with the causation of the calamity.
If we are ever to expunge racism
from our midst, we must under
stand the many, insidious ways
that racism is manifested through
out our society.
How Not To Catch The AIDS Virus
Drug users, homosexual men, bi
sexual men and those who have
sexual contact with homosexual
and bisexual men are the most
likely to develop AIDS.
People in those groups are at risk
because of what they do, their
"lifestyle." But two percent of all
AIDS cases are even more tragic.
‘Ihsae victims are people who in
nocently have what should be a
life-saving procedure - a blood
transfusion.
AIDS was recently transmitted
to two recipients of organ dona
tions, even though blood tests on
the donor showed no evidence of
the AIDS virus. However, the don
or, before his death, had received
massive blood transfusions and
had obviously become infected
with the virus.
Although the risk of exposure to
the AIDS virus is less than one in
1 10,000 in a "blood transfusion (it
becomes higher with multiple
transfusions), that one unfortu
nate person will soon be 100 per
cent dead. Moreover, there is rea
son to suspect that there is a link
between syphilis and AIDS.
"The AIDS virus in the blood
bank is very high. The syphilis
spirochete in the blood bank is as
tronomical — and we're not being
told that," said Gary Null, a nutri
tion expert.
As frightening as that warning
is, there is a silver lining called:
dextran.
Commercially called
"Macrodex," dextran has the phys
ical properties of blood plasma,
but it is not made from blood.
Therefore, there is no possibility of
it containing the AIDS virus or
any other germ. And, believe it or
not, it has been available to hospi
tals for decades.
There will be no cure for the fa
tal disease of AIDS in the immedi
ate future and the epidemic
among members of the high risk
groups (drug users, homosexual
and bisexual men and tneir sex
partners) will continue to spread.
This means that the rest of the
population will also be increasing
ly in greater danger because of the
possibility of contamination.
Tony
Brown's
Commentaries
And for most of us outside of the
high risk groups, the most likely
chance of getting the AIDS virus is
from a blood transfusion.
In the event that you or someone
you know needs "blood" because
of surgery or an accident, the fear
of AIDS can be eliminated.
Ask for Macrodex. And don't
take no for answer.
Tony Brown's Journal TV ser
ies can be seen on public television.
It can also be seen on Channel 58,
Saturday, 1:30 p.m. Please consult
listings.
Why Am I So Angry?
I am puzzled and disappointed.
And angry.
This country doesn't need anoth
er long fight about a Supreme
Court nomination.
Our President and the Congress
need to be working hard and
working together on the critical
problems facing our economy and
foreign policy.
But another confirmation battle
is what we are going to have. The ;
President says he is ready to fight
again to force the confirmation of
his latest nominee to the Supreme
Court, Douglas Ginzburg.
It was a fight that he could have
avoided.
The President knew that he
could nominate a moderate con
servative, well-qualified, experi
enced Judge, and have the nomina
tion sail through the Senate.
Conservative Democrats and
moderate republicans who voted
against the confirmation of Robert
Berk were ready to support Judge
Anthony Kennedy who was char
acterized as a "mainstream conser
vative."
With Judge Kennedy on the Su
D.G.
Martin
flue-Qn-Qne
preme Court, the President would
have had most of what he wanted
-another solid conservative voice
on the court.
That appointment would have
avoided t)ie coming fight in the
Senate that will command time
and attention from the President,
the Senate, and the country when
so many other problems cry out
for help.
Why did he do it?
News reports tell us that the
President's advisors broke down
into moderate and radical camps.
Howard Baker and other moder
ates urged the President to avoid
another fight and nominate a con
servative, experienced judge like
Judge Kennedy. Baker wanted to
avoid a confrontation with the
Senate. He knew that the adminis
tration needed all its energy and
leverage for other problems. He
had assurances from some of the
Senators who voted against Bork
that they would not oppose Ken
nedy.
Attorney General Meese led the
other faction. He pushed a no com
promise position. Senator Jesse
Helms let the President know that
he would fight Judge Kennedy's
nomination. He even promised a
long fillibuster.
So the President rejected Baker's
advice-and nominated Meese's
and Helms' choice-Douglas Gins
burg.
Why? Why did he force an avoi
dable confrontation when he
needs a united country behind
him? Why?
I don't know. I can't explain it. I
don't think that there is a good ex
planation, and that is why I am so
angry.
Reagan Cabinet With Extremists
Quest Editorial
By David Koanat
Pormar Education Secretary
Terrel Bell made headline# recent
ly when he revealed he had often
heard "mid-level rightwing staf
fers" in the Reagan Administra
tion make racial shire.
Bdll's revelations, contained in a
soon-to-be-published book on his
(bur years as a cabinet secretary,
came as no surprise to students of
the Par Right's influence over the
Admin! strati on.
Virtually every administration
has its. share of incompetents or
worse. However, this Administra
tion has appointed a remarkable
number of ideological extremists .
some of whose records are ao em
barrassing that they have been
forced to resign or have bean de
nied confirmation by the Senate
Par instance,
•In 1986, the Administration ap
pointed Marianne Mels Hall to the
170,OOO-e-year position of heed of
the Copyright Royalty Tribunal.
She resigned after it was revealed
■he had helped write a book which
■aid blacks ’insist on preserving
their jungle freedoms, their wom
en, their avoidance of personal re
sponsibility and their abhorrence
of the work ethic.’
•Anthony Bouacaren, a 1986 ap
pointee to the National Council on
the Humanities, had worked for
the Pioneer Fund, an organisation
which has sought to prove that
blacks sre genetically inferior to
whites. Bouscaren'e nomination
was rejected by the Senate Labor
and Human Resources Commit
•Carolyn Sundseth, who served
ss the Administration’s liaison to
moat religious groups, declared
members of the President's staff
should ’get saved or get out* - a
remark suggesting that only those
who share her religious beliefs
should serve in government.
Examining the records of these
and similar appointees, observers
are tempted to ask: "Where on
earth do they get these people?"
The answer is: from the Far Right,
which not only places its own peo
ple in influential positions but ha
rasses many of the most distin
guished members of the
Administration, including Ho
ward Baker, George Schults, and
Terrel Bell himself during his
years in the cabinet.
Political patronage is nothing
new in American politics, but ideo
logical patronage for extremists is
unusual. And, when responsible
positions are entrusted to people
whose major credentials are bi
sarre or intolerant beliefs, people
have the right to ask why extre
mists have fHends in high places.
David Kusnet is a Vise President
of People For The American Way,
a 270,000-member nonpartisan
constitutional liberties organise
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Letters To The Post
Church Obliged To Supply Needs
Dr. Mr. Johnson:
I have been asked by the Baptist
Minister's Conference No. 1 of
Charlotte, NC to reply to your edi
torial that appeared in the Char
lotte Post of October 15,1987, enti
tled, "Black Church Begets Guilty
Givers." I hereby submit the fol
lowing:
It seems that the main idea pre
sented in your article was that
black church members are guilty
of allowing black pastors to ex
ploit them. I assert first of all that
the Christian Church has a bibli
cal and moral obligation to supply
all of the pastor's needs and some
of his wants. These needs include
the normal material needs such
as food, clothing and housing for
the pastor and his family.
If housing needs extend be
yond his tenure as pastor of the
church, the congregation must
also include a housing allowance
adequate to help him buy his own
house while still employed rather
than live all his working years in
a church parsonage; and have to
move out at retirement time with
nowhere to move. The pastor's
needs also include adequate
transportation. Eighty-five to 90
percent of the miles driven by the
pastor are for the church business.
His needs also include the educa
tion of his children, and an ade
quate pension plan to fall back on
during disabled and/ or retire
ment years.
If there are a few black church
es in the Charlotte area able to
take care of all the above needs of
its pastor; whether through sal
ary, allowances, anniversaries
or appreciation days, God Bless
them and more power to them.
Any "laborer is worthy of his
wages." The bottom line is, does
the total income of the pastor, from
whatever source, take care of all
his economic needs and a few of
his wants?
A qualified pastor spends four
What Is Value
Of Black Caucus
Endorsements?
How can we define the charac
ter of a people, and by what insti
tutions are they made unique?
The simple answer is their
means of worship. Worship de
fines mannerism and action. So
if we are going to change a people,
we must first alter the conscious
ness of those pastors who shepherd
their flocks.
In recent history, the black
minister was the pillar and lead
er of our communities. It is sad to
see that position being under
mined by political pamphlets in
Church programs.
Who are the people who make
up the Black Political Caucus,
and what is the value of their en
dorsement? They could not elect
Bob Davis in District 1. Since
1984, they have endorsed Walter
Mondale, Jim Hunt and D.G,.
Martin—All these candidates
lost heavily. It is a sad time in our
history when a group such as this
can undermine the strength of the
black vote using our churches?
How many jobs has the group
created for black Americans?
Has their endorsements stopped
crime, drugs and prostitution in
our communities?
We must take a realistic view
of ourselves and "Give unto Ces
ser," the things that belong to Cea
sar and unto God, the things that
belong to God.
Paul Moore
years in college and three years
in Graduate (Theological)
School. This is a total of six years
professional training in prepara
tion for his calling. It is about the
same amount of time a lawyer
8pends and a little less time than
a MD or PhD.
Yet, in spite of all the training,
the gospel ministry is still the
lowest paid profession in our na
tion. Much of the average pastor's
time and experience is spent re
ceiving low pay or no pay. As a
Seminary student, I was called to
my first church. I drove 50 miles
one way to church twice monthly
and received only $20 per Sun
day.
You stated in your editorial "if
the pastor's financial position ap
pears to be healthier than the
church’s, then you are a guilty
giver." Note that the pastor men
tioned in the article was described
as "one of the best pastors in the
city." If the same analogy is ap
plied to "one of the best" newspa
per publishers in the city; or "one
of the best" lawyers in the city; or
"one of the best" doctors in the
city; we will have a whole lot of
guilty subscribers, guilty clients
and guilty patients. All these per
sons’ financial positions are far
healthier than the people they
serve.
Under current conditions in the
black church, at least the income
of the pastor and the income of the
church's staff turn over at least
once in the black community.
What percentage of the newspaper
staff does the same?
Rev. Preston Pendergrass
An Open Letter To JCSU
President Albright
Sir;
It is disturbing to hear news that
you have formed a committee to
review the possibility of eliminat
ing one or more of the sports ac
tivities at Johnson C. Smith, and
even more disturbing that your
school is not the only small college
that must consider measures such
as this in order to cut operating
costs so you can survive in your
efforts to provide quality educa
tion in our community.
The problems that confront
small colleges and probably more
so in small, black colleges is the
lack of "Community Involvement"
in the activities that surround
those colleges and universities.
Having graduated from a a small,
black College, that discontinued
football in the late sixties for finan
cial reasons, and then sitting by
watching the larger universities
profit from activities performed
by a few talented young people
from our community who enjoy
participating either as athletes or
spectators, while many others
never get a chance to display their
talents and even more so never get
the opportunity to go on to a high
er educational institution because
of the lack of funds that are pro
vided by programs such as sport
lack of funds that are provided by
sports scholarships in those larger
scholarships in those larger colleg
es and universities, (sic)
There is not only room for small
college eporta in Charlotte, but
there is also a need for your uni
versity (JCSU) to provide these
Activities.
I would also like to add that
some of this fault must be given to
you and your university for not
reaching out to the young (under
15) people of our community. You
should develop and provide pro
grams that attract the young, fu
ture college students and their
parenU such as Black Awareness
workshops. There is a need in the
community for cultural activities
as well as sports and there is a
need for JC8U to be active in pro
viding these activities as well.
I ask that while your committee
ponders the fate of athletics at
JCSU, that they also consider the
importance of these and other ac
tivities to to the community in gen
eral. Having attended numerous
sports activities at JCSU, I realise
that the community does not give
the support that it should and can.
I strongly believe that through
a dedicated public relations pro
gram and greater emphasis on the
recruitment of young athletes
from our community not only can
sporting activities be salvaged at
JCSU, but it will have a positive
impact on the recruitment of stu
dents who are seeking academic
excellence as well.
I hope the committee will ask
the following questions :
Would a dramatic increase in
the attendance at these activities
result in the revenues needed to
continue these programs? How
much of an increase in attendance
would it require? Are there citi
zens willing to assist in salvaging
these program?
There are many high schools in
the surrounding area of Charlotte
that not only produce good ath
letes but also many good students
that may elect to attend JCSU be
cause of friends and relatives who
also attend. With added emphasis
on the improvement of the sports
and cultural programs at JCSU,
believe that not only would the
overall enrollment increase but
also an INCREASED REVENUE
and the COMMUNITY’S IMAGE
of the school itself will be realized.
We know that the bottom line is
cost of operation and we realize
that the cost of education is contin
uing to rise. While the larger col
leges and universities continue to
prosper and grow through the
revenues received from sporting
activities, the smaller colleges and
universities seem to be on a road
of destruction when it comes to
surviving in the 80's.
I know I'm not alone in my
thoughts when it comes to saving
the programs that small schools
offer the community so I submit
this open letter to you and the
Charlotte Poet, for all to read, and
I summon all citizens of the great
er Charlotte area to come forward
to give support in the preservation
of ALL PROGRAMS offered at
JC8U. We must remember, not
' only is this our school, but also that
it has been providing QUALITY
PROGRAMS in our community
for 120 years and it can't stop
now.
I say to you. Dr. Albright, daa't
give up on us, as ws are some
times slow to come to the rescue at
friends in need, but ws will pro
vide JC8U with the support re
quirsd to continue providing qual
ity educational programs to the
young of our community.
$ Richard H. Highland