Page Two
THE DAXBURY REPORTER.
X. E. PEPPER, Editor and Publisher
Issued Wednesdays at Danbury, N. C., and entered at the Danbury
posteffice as second class matter, under act of Congress.
Wednesday, August 15, 1934.
Sales Tax Pays the Bills.
The sales tax which largely lifted the adva
lorem from land, paid the school teachers, and
saved the credit of the State of North Carolina,
seems to be operating beneficially in other
quarters, too.
The following- dispatch is noted from Chicago,
dated August 2:
"First year operation of the 2 per cent. r,aies
tax in Illinois brought into the general rovenue
fund $36,532.933.2Q —and saved the State from
threatened bankruptcy—according to figures
just released.
Knowlton L. Ames, Jr., director of the Illinois
State finance department, savs :
"Had it not been for the revenue produced by
the sales tax the credit of Illinois would have
been destroyed."
Those who are fighting* the sales tax in North
Carolina and who art anticipating an organized
movement t"'»r its rep; a! in the next legislature,
have not vet furnish- 1 the public with a substi
tute. The nubile is anxious to see it.
The question of taxation one which has
ahvavs en'" i'.ivl the closest study of the best
minds, and no antidote for the annoyance and
the expense of taxes has ever ken found, or
ever will be.
I
We have the finest read system in America, j
and school houses and educational equipment!
-etond to ni' State in t'ee ".onm These things
cos man» millions of do!:.n repaid I\n
I\V i O 1 ; > •• 1 • •
go, mud «. I* e» e • it« u eroic
nva:m* e.
The brainiest msn in the . • vvrestlce] with
the pi'Oi'!' m in tie.- i. gi-u.e. nuny long•
montns, l-i.i n -ver found any . a* »nable, sensi-.
ble remedy except a general sales tax.
The sales tax must stand until it pays the bills.!
otherwise we shall witness a weakening of con i
fidence in the integrity of our financial structure'
that will mean serious things for the State's,
business and progress.
To TT'm That JTath
|
The FoderaT Housing Administration is the
latest a-.rencv established at Washington to,
furnish cash to bring us back to nevmalcy.
In a letter. Mr. Ward AJ. Canada-.*, Director of
Public Relations, advises that "toJey any pro))-'
erty owner m th, nation can go to an approved
financial institution and ask for credit from
SIOO to $2,000 for housing improvements."
But it has been so all the time—even during!
the peak of the depression—that you could do
this thing: Go and ask for money to build or
improve your home, or for any other purpose.
But getting it was entirely a different prop
osition.
But we are advised by the heads of the HOLC
and the FHA—(Home Owners Loan Corpora
tion and the Federal Housing Administration)
that the money will be available to you if you
can meet the requirements.
And what are the requirements ?
Answer, that you have the collateral sufficient,!
anel that you have a good creelii; rating and a
good standing with the banks.
It seems to be one more case of help for the
fellow who doesn't need it.
How many busted business men, farmers or
individuals have a good standing with the'
bankers?
Nothiner Personal Meant.
An undertaking firm is distributing fans at
funerals for advertising purposes.
As the fans are made of pasteboard instead
of asbestos, there is certainly no reflection on
the deceased.
THE DANBLKY KEPOKTER
Recreational Center.
, Lawrence Macßae is sponsoring a movement'!
:to provide a recreational and lake center in the
county, and is addressing a petition to Mrs. 1
Doyle, of the Stokes relief office, and Mrs. O'Ber- :
ry, head of federal relief in the State, requesting!
that the project be put through with federal
funds.
i The proposed enterprise in our opinion is!
| highly commendable both from the standpoint,
of furnishing work for the unemployed, and for,
( the reason as stated in the petition that the
people of the county need a common meeting
!place for social functions as well as a general'
1 ecreational center.
1 It would be a permanent product of relief activi
ties in the county, and one that would have a 1
; tasting benefit for the whole people.
We hope that the federal officials wilt see
:the practicability of the project, and lose no
time in its construction.
The Gold Tide.
i The gold tide for North Carolina tobacco
' farmers is lapping the shores,
i Stokes has a magnificent crop in spite of some
hail damage, and the growers are expecting;
good pay for it. Curing is at its height now, and
i>right but light is the story.
Good news continues to come from the cast
■ and the where prices are steadily climb
ing.
i Yestei iv at Whiteville market, a half mitlionj
pounds \ re sold at nn average of *25 per hun
dred.
At Fa Bluff the average was §22.67.
At Clr [bourn, sales totaled 65,000 pounds,,
wringing I'rom $5 to £55. •• j
| At Ki.. vstree, S. C., tobacco was averaging.
*21.10.
On sum ■ markets the average reached *2i5.0(»
AiS - >f eraxy things are dov.e the - ■.!■
for advert >• aig purposes to eat el' •oto; |-t .•
r! 'C ta : i and hold it for the mom i- \ v. n ] ■
of a bla-> j iiblie.
Hut Jto most novtt stunt pulivd y t was that
of the Jackson county preacher who let a rattle
snake bite him twice to "show his faith in God.";
; He refused medical attention, and got well,
(but suffered horrible pain and fear—so the As
! seciated Press dispatch says.
Really, while this stunt is unique, the feature
1 which interests science about it is that the snake
.did not die until somebody took it out and kilted i
it with a stick.
j
!
Mrs, Doyle On How About This,
Her Vacation Claxton?
i Scientists say we unconscious-
Mrs. Minnie O. Doyle is off 011 Iv inherit the characteristics or
a short vacation, spending a por- nature of the food we eat. It I
• ion o) her time with relatives at may be that the reason some of
Rcidsville. t ] ie fera. dependants kick so'
During the absence of the lustily over the work tasks as-
FERA chief, the office here is in signed them, is that they have
charge of C. C. McGee. had too much canned mule.
BIDS
For the construction of Palmyra school
building will be received by the County
Superintendent of Schools up to
TUESDAY MORNING, AUGUST 21ST
at 10 o'clock A. M.
Plans and specifications may be seen
at the County Superintendent's office,
Germanton.
J. C. CARSON
Supt. of Schools.
At Vade Mecum.
Vade Mecum, known as the
summer home of the North Car
olina Episcopal diocese, this sum
mer is again proving quite at
tractive to the young people of
the church under the continue 1
direction of Rev. J. A. Vache,
rector of St. Andrew's church,
Greensboro, more than 300 peo
ple having attended the four
camps for young people this
season.
At present the Woman's auxil
iary of the North Carolina dio
cese is having its second annual
conference at Vade Mecum.
Mrs. William J. Gordon, of
Spray, conference leader, has a
discussion class on church-wide
endeavor. Bishop Edwin A. Pen
ick, of Charlotte, is lecturing on
the life of Christ. Mrs. Theodore
Patrick, Jr.. of Raleigh, educa
tional secretary of the diocese,
leads the mission study class on
Japan. Miss Maude Cutler, of
Wilson, conducts the da«s in
church school work. Rev. Mor
rison Bethea, Rei.lsvillr le. -
tures each evoining front 7 to
7 :.S0 o'clock on church history.
At S o'clock each evening var
ied entertainment activities to
presented, these including t lec
ture by Dr. Howard Rondthsder.
president of Salem college, on
"The Hidden Years of Christ"'
the story of his tour of the llolv
land by Rev. William .J. Gordon,
of Spray; :> le«-M;re on graphol
ogy by Mrs. R. M. Mt Arthur. of
Winston Salem. :»• --vri • >.'
mission life in C *:j s i by Miss May
•: in-' :n. •. ■ ... visi■*.
One of those in attendance at
'! e in dcrcii o . "'.t le
y !!ru';l "«• ). 1 •: ■■
it■ health-giving spring wntor, its
inspiring surroundings of forest
trees and green slopes, and >'s
fine views, far and near, of moun-'
tains bathed in morning mist or
!
evening sunset glow, affording n
I
perfect setting for the acquire
ment of the spiritual wisdom and
strength that we are seeking."
i
Mrs. Klizabeih
Gatewood Dies
Near Madison
Mrs. Elizabeth Gatewood, 70,
wife of the late Sam Andy Gate-!
wood, of Stokes county, near
Madison, passed away Sunday!
morning after an illness of two]
days. She has been in declining!
health for several years.
She is survived by five sons, j
Bruce, of Walnut Cove; T. J. of;
Madison Route 1; James of,
Louisville, Ky.; Roy L., of Mad
ison and H. G. Gatewood; three,
daughters, Mrs. Knte Flynn,;
of Mayodan; Mrs. B. C. Reid, of
Sandy Ridge Route 1; Mrs. R. B. j
Smith, of Winston-Salem.
For Tonsil Clinic.
The Stokes County Medical
Society met at King August 14, •
at 10 A. M., for the purpose of
completing the arrangements for
the tonsil clinic to be held Aug.
27 and 28, at King High School
building, Dr. Beverly Jones oper
ating. A survey of the applica
tions reveal that there are a few
more needed to fill the quota. The
parents who have diseased tonsils j
are requested to get in touch with
their family physician immediate
ly. All admissions to the clinic
must be made through the fam
ily physician.
WEDNESDAY, AUG. 15, 1934.
OANKE: SUPPORT
S L .0 EXPANSION
S. HECHT
Vice American Bankers
-1 ssociation
BANKERS universally recognize that
the prime economic need of thei
nation is the stimulation of sound In- j
dustrial and com- J
§§ mercial activities
and recent trav
els over a wide
stretch of the
country have
Bho w n me that
they everywhere
are making all ef-j
tort possible to
lend constructive,
financial support!
within the scope!
of their proper
R. S. HECHT banking func
tions to promot
ing the expansion of business activity.
Frequently In times past when our
country suffered from an economic de
pression and consequent unemploy
ment on a large scale, the rise of some
broad new Industrial development,
such for Instance as a new industry
like the automobile industry, has been
a powerful factor In stimulating a re
turn or an accelerated growth of na
tional prosperity. Such a movement
means the creation of new wealth, the
employment of large groups of people
on useful lines and as a consequence
the production and distribution of
sound, effective purchasing power,
which is a form of wholesome eco
nomic stimulant that lias none •( the
evils of uiomtsiry inflation.
A New Fores f >r Business Improvement
Perhaps we have at hand, it not the
I'i.ing «it" a wholly new industry, a
lu-.-aMir;-Vie equivalent in the potenti
alities t>:' a widespread rebuilding and
modernising movement such as homo
rcuovisiug, plant remodeling, the put
ting of our railroads on a nigh speed
air conditioned basis and other valua
ble developments in the construction
tield. The effects of such activities on
employment and many lines of bus!-,
ncss would bo most beneficial and 1
c..:i repeat without reservation that we
!>an!; rj are willing and eager to pluy
>;ir i til  • :•.( i.:ie part in any such eon-«
bin > •! v.'opments.
It I :•. ! n made to appear that
i > 1....- :: t none to work ii.-c-.ut-e .
i! ii' • t :y t , :'ankers rather than
. t i tra i •• i:ir.ation, i .vaiiso
! ive i.e.; had eni'i; i«>>n-'
i. !. . . hi'. .i:i . . oui! '';(■! lor
. > •: i fri't.i the I r and
, . ' ft ! . \w :
'i . ic i :;r.lsit i to the expansion
ni c. . .::i icial bank loans is sound,
i.- r :.:tl ha-'iai .-.-s conditions on which
t.i i I'.i.'.ai t .and, normal banking op
erations. The I i .-t business a bank can
wish for is the opportunity to loan
money to successful business men and
manufacturers imbued with confidence
to enter upon aggressive business en
terprises and endowed with the ability
to bring them to successful conclu
sions. Such loans mean business ac
tivity for the community, growing pay
rolls and prosperity, and the banker
wants to make them because to be
identified with such activities not only
means profits to hf:n but, additionally,
brings him the reward of good will in
his community.
There Is no better proof of the groat
desire of banks to take care of the
short term iv-quire: icnts of th>i busi
ness world than to p..hit out the abnor
mally low rates at which this demand
U beirg applied at the present time.
BANK DEPOSITS WERE
SAFEST INVESTMENTS
High Government Official Says
No Investments Except U. S.
Bonds Suffered as Little Loss
as Deposits in Closed Banks
WASHINGTON, D. C.—No form of
investments except Government bonds
suffered as little loss as deposits in
closed banks during the years 11)31-32-
83, Josse H. Jones, Chairman of the
Kecoustruetion Finance Corporation,
deolared in a recent address.
"A point generally overlooked in
connection with bank failures in this
period, in that upon the whole, depos
itors in closed banks will get a some
what larger percentage than has been
true in bank failures over a period o)
say twenty-five ' ears," Mr. Jones said.
"Heretofore they have gotten about
58%, but in these wholesale bank clos
ings, my estimate is that they will,
upon the average, get about 65% of
their deposits.
"Another point worthy of mention
Is that a depositor in a closed bank
loses only a part of his deposit, while
the bank stockholder loses all, plus a
stock assessment.
"No form of Investment, except Gov
ernment bonds, baa suffered as little
loss aa deposits in closed banks, and
wlille I appreciate that tbere la little
consolation In this fact, those who
had their savlnga invested In stocks,
bonds, mortgages, real estate. Indus
trial Investments, or In businesses of
an? kind, have bad losses very much
greater, and in a much larger percent
age, than have depositors lb closed
banks.
"It Is tor these reasons, >*d others
not necessary kere te toiumemte, that
U 1* not possible to Jvilf* rwtag de
positors la closed bMlm the tax
payers' mosey."