Newspapers / Daily Tar Heel (Chapel … / Jan. 12, 1932, edition 1 / Page 2
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Ed-re Two The ofScial newspaper of the Publi cations Union Board of the University cf North Carolina at Chapel Hill where it 13 printed daily except Mon days and the Thanksgiving, Christ mas, and Spring Holidays. Entered es second clas3 matter at the post cfSce of Chapel Hill N. C-under act of March 3. 1879. Subscription price, $4.60 for the college year. Offices on the second floor of the Graham MemoriaL Building. Jack DungaiL.....-Editor Ed French- Managing Editor John Manning.....Busines3 Mgr. Editorial Staff EDITORIAL BOARD Charles G. Rose, chairman; Peter Hairston, Vass Shepherd, R. W. Barnett, Oscar W. Dresslar, Louise Pritch ard, E. K. Graham, Jr., J. F. Alexan der, B. White,'' Gilbert Blauman, John Willdnson. FOREIGN NEWS BOARD E. C. Daniel, Jr., chairman; Frank Haw ley, Robert Berryman, Elmer Oet tinger, C. G. Thompson, John Acee, Claiborn Carr. FEATURE BOARD Donald Shoe maker, chairman; James Dawson, E. H., Kirk Swann, Ben Neville. CITY EDITORS George Wilson, T. W. Blackwell, Robert Woerner, Tom Walker, William .McKee, W. E. Davi3, William BlountSTack Riley. DESK MAN Morrie Long. SPORTS DEPARTMENT Thomas H. Broughton, Jack Bessen. . LIBRARIAN E. M. SpruilL HEELERS Donoh Hanks, J. H. Mor ris, H. K. Bennett, H. M. Janofsky, Joseph Sugarman, W. R. Eddleman, J. D. Winslow, Milton Bauchner, A. T. Dill,'T. C. Royster, W. O. Marlowe, C. S. Mcintosh, S. A. Wil kins, F. C. Litten, S. A. Wilkin3, E.--C. Bagwell, R. J. Gialanella, Homer Lucas, L. C. Slade, W. D. McKee. Business Staff CIRCULATION MANAGER T. C. Worth. - - . " BUSINESS DEPARTMENT Assist ants r R. D. McMillan, Pendleton Gray, Bernard Solomon. ADVERTISING DEPARTMENT Jimmy Allen, manager; assistants: " H. A. Clark, Howard Manning; Bill Jones, H. Louis Brisk, Joe Mason. COLLECTION DEPARTMENT John Barrow, manager; assistants: Ran dolph Reynolds, R. H. Lewis, Jim Cordon; J. W. Callahan, Henry Emerson. Tuesday, January 12, 1932 Progress There exists in the mind of the average man a self-satisfied and confident -presumption that we are living in the finest age the world has known, and that the human race is ever moving towards finer things as we leave aeroplane, and similar inventions have -created a piteous contempt for the civilizations of our an cestors and our present belief is thatrwe are the greatest and self sufficientProgress is our watch word and it has taken-such a material connotation that it is now measured in terms of the physical alone. This gives us the feeling, of content and hence a vicious cycle which limits our correction of the situation. Looking at our own nation of which we are so proud we see millions starving and freezing while food and clothing is lying useless. We find our , political machinery not only creaky and inadequate but honeycombed with fraud and corruption. We find ourselves arming for war with the memory of our tens of thousands of dead fresh in our mind and little effort being made on our part towards peace. We are paying millions into the pockets of organized criminals who practice their thuggery and murder with insolent impunity and defiance. We allow men to reap huge' profit from the thwarting of laws which we have passed and which we break. We provide our athletes with better livings than our president and pay football coaches comfortable salaries while professors and teachers eke out a. bare exist ence with. little hope for better. We are forced to admit that our authors and artists have made little contribution to their fields while our music is in the process of return to barbarism. There are many other ills in our civilization but these are ones in which the conditions are growing' worse as we "progress." In analysis our progress of which we are so proud seems the real cause of our troubles. In our impatient haste to press on we have accumulated too much speed and lost control. We have lost sight of our foundations and now resemble a tree growing talL er and branching out into beau tiful foliage while, the roots are rotting. Paradoxically as it sounds our hope f or progress is the past. We must retrace our steps and in the light of our knowledge and experience repair the neglect that we have allowed in our wild leap ahead. With our radio and aeroplane we still have much to learn from the philoso phy of Socrates, the painting of Rembrandt, the poetry of Shakespeare, the music; of Beethoven and the teachings of Christ. We must reach back' into the past and incorporate its best into our trends and tendencies and perhaps we will- achieve a real progress to supplant our dangerous material specializa tion. J.F.A. Bankers Vs. The People The Senate's current investi gation of foreign loans floated by international bankers in the United States has focused pub lic attention "on investment bank ing practices in this country. The investment banker has oc cupied an important place in the economic structure of the nation. He has been the great middle man of credit. Without him our railroads, public utilities, and big industrials would have suffered through lack of ready access to capital. That the investment banker has played leading role in the development of business enterprise goes without saying. As usual, however, there is more than one side to the ques tion. The banker has well per formed his duty to industry. Has he as equally well fulfilled his obligation to the public ? The answer is obviously, no. The banker occupies the dual position of salesman ancL investment ad viser. Common sense will tell anyone that it is almost imposr sible to perform these two func tions to the satisfaction of all parties. The bond salesman sub consciously thinks of his profit in the transaction -rather than the welfare of his customer. This is but human nature and the bond salesman should not be blamed; it is the system which is at fault. The average investor is ignorant of the value of finan cial risks and, therefore, does hot "buy," but is "sold." And in the majority of cases he is "sold" just what he does not need. For instance, very few security sales men take into consideration the geographical and industrial di versification of the securities in their customer's accounts. Nor do they give proper weight to marketability or liquidity. These are recognized principles which every scientifically managed in vestment account should adhere to. . . To better illustrate the rela tion; between the investment banker and his customer, let us contrast the relation between doctor and patient. If the doc tor performed the functions of a pharmacist in addition to those of medical adviser, the family medicine chest, in all probability, would closely resemble an em bryo chemical laboratory. The doctor, however, is not a phar macist and what every investor needs is an investment doctor. Such investment doctors are already in the field. They at tempt to cure sickly investment portfolios as scientific invest ment managers or financial ad visers. It is important to note that they are not buyers and sellers of securities, except pos sibly for their own accounts, but are primarily interested in giv ing sound and constructive finan cial advice. Statistical organiza tions such as Moody's, Standard Statistics', and Babson's are the most widely known financial managers. The investment trusts of the management type also perform the functions of invest ment advisers in an indirect way.; V .- THE DAILY The majority of the public, however, is uneducated to these advantages and it still likes to be "sold" by its "friend" the bond salesman. In time it is reasonable to believe that the in. vestor will realize the value of unbiased financial opinions and with it will come to a revolution ary change in .investment bank ing practice. It will become in creasingly difficult for corpora tions to borrow new money be cause there will be more demand for securities of an investment calibre than those of a specu lative quality. The result of course, should be a check against inflation which in turn will have a stabilizing effect on business cycles. This, situation can not approach a reality until the investment banker is forced from his position as - financial adviser. For the greater pro tection and security of Ameri can investors, let us hope that the trend is in that direction. H.W.P. Democratic Opinion On Disarmament - That Paderewski is distinctly a product of Poland, modified somewhat by innumerable con tacts in other nations perhaps, is almost self-evident. , It would also be rather platitudinous to state he has made a considei able contribution to the inter pretation of music. This is cited notto laud a particular musician but as an example of the culture that small nationalities fre quently produce. Dante, Chau cer, and innumerable others tes tify the fact that politically un important and relatively small countries have produced civiliza tions which have been distinct additions to world progress and completely out of proportion to the size of the nations involved. Anglo-Saxon culture arising in an island which cannot even ex ist for a week by itself now per vades the life of -the continents of North America and Australia, not to mention large portions of Africa, India, and various and numerous islands. In recognition of this fact, af ter the World War, the boundary lines of Europe were practically doubled. - Notwithstanding the value of this distribution of territory, it has created certain grave prob lems. First among these has been the necessity aroused of defending the frontiers thus con structed. This in itself has been responsible for the major por tion of the tremendous increase over the armaments prior to the war. However, as much as it may have enlarged expenses in the smaller nations, it cannot also account for the trend in larger "defenses" on the part of the major nations. The only na tions that have been decreasing since the war in military expen ditures are the Central Powers whose activities have been lim ited by treaty. The reason of fered, ostensibly and ostenta tiously, is that no nation will at tack another which it feels is capable of defending itself. The fallacy of such an argu ment is immediately evident to the most casual observer of pre war events. Furthermore, it is to be noted that that war was encited by the aggressions of a larger nation upon a smaller. With the increase in the num ber of small nations, and their rather obvious inability to keep pace with the larger ones on a military basis, and particularly with the smaller nations distrib uted so throughout Europe that nearly any of the larger powers might have designs on one or more, the situation is consider ably aggravated. If the coming peace conference fails, it will be on the basis of such fallacious arguments as this. Their flaws are obvious; but unless the objections are fairly howled forth, there is lit tle doubt that self-seeking indi viduals will try to pull them over TAR HEEL "HE SAID ..." "He said . . ." And probably he did. People seem to have a fondness for talking much about things that matter not at all. It was good old Sir Walter of cloak and mud-hole' fame who once wrote: -Passions are likened to flowing streams, The shallow murmur but the deep are dumb. And so it is. with people. The less they have of value to impart the more enthusiastic is their conversation with the exception the eyes of the peoples involved, just as propaganda is pulled over the eyes of the public to incite false patriotism in times of tense feelings. If there is to be, if there can be such a thing as worthwhile democracy, it must come to the front in the real crisis of affairs that is coming up; the people must realize that they are being taxed out of exist ence in times when they can af ford it least in order that their politically elected officials may pay armies to parade around and irritate other nations and that the public may be told that it has the greatest nation in the world and believe it, measuring greatness by destruction, not construction, by the ability to support a city the size of the national capital without its serv ing any productive service. P.W.H. Boredom - Satiated with pleasure and excitement, experienced in the hard knocks and rebuffs of this cold world, youth has little - to anticipate hence boredom. This modern heritage con trasts vividly with that of the last century.- Then boys and girls, sheltered and protected throughout the early stages of life saw manhood and woman hood in the light of an adven ture. Intrigued they stood be fore the portals of a secret gar den. Eagerly they awaited each new experience unfolding like a flower before them. Fresh, radi ant, and excited, they entered. Lack of sophistication height ened the charm of unknown events. Carefree and buoyant, the little men and little women of yesterday walked through the garden each path revealing new and colorful scenes some gay, some sad, some exotic, others drab all equally captivating, pervaded with mystery. Rushing madly through boy hood and girlhood, today youth finds us exhausted. Life is real, life is tragic. There is no new awakening. The pulse Of life has long since been counted monot onized. Existence seems weary. Years loom ahead, each like the first Nbthing has been con cealed ; all stands revealed. Like the automatons of this machine age, youth of today enters into adulthood the kingdom of the bored. L.P. - Now On of the pluperfect tense of the transitive verb meaning to speak. People who don't live are wonderfully preserved, to wit, some of the Forsytes, but words which are used overly much lose most of their original connota tions. Even a cursory examina tion of the dictionary reveals a plethora of synonyms for the word said. To say or not to say, that is the question. ,' No good reporter in writing up the recent debate with Cin cinnati would have written, "The speaker said . . " For the speaker either affirmed; argued, conceded, confirmed, contradict' ed, declaimed, declared, denied, exclaimed, expostulated, implied, interrogated, itemized, iterated, maintained, mentioned, observ ed, propounded, questioned, re counted, reiterated, remarked, reminded, repeated, stated, or supplemented. Nor would it be quite proper to write that the president of the - state's largest woman's college said that the young ladies enrolled in that institu tion of higher learning might now smoke in the privacy of their rooms' provided their room-mates and mothers did not seriously object, nstead, he announced the acceptance by the proper authorities there of a situation which, it is reported, has 'existed for years. Listen for five minutes to the casual conservation of the average co-ed at a time when (if possible) she is unaware of the presence of a man. "He said . . . and I said ... he said . .'. and I said." A little elegant variation might be injected into the monologue by "He vouch safed ... and I acquiesced." As for the co-eds themselves, they accept willingly, babble inces santly, chatter interminably, complain frequently, coo upon occasion, dissemble habitually, equivocate intentionally, gush unrestrainedly, monopolize class discussions, promise ; faithfully, sob hysterically, sparkle effec tively, and suggest almost any thing. 1 . . What are the words the apostle saith? "In the power of SCREEN'S GREATEST RUN RIOT IN RENO! BERT, BOB AND DOT! In gay, lunatic farce through the nation's new capital of "Liberty" ... A million laughs to Reno-vate your funny bone! .MiORO I M - - - V' O'NEAL JOS. CAWTHORN lifcllO also "HELLO GOOD TIMES" A Musical Act Basketball Novelty NOW PLAYING Sale At The Booh G O O P P Q El iLD rinh a bite to eat ci 3.0-2-c!: J T - the tongue are Life and Death!'" Think not of the things you formerly said, but choose any of the many synonyms abounding between accede and yell to re place that ubiquitous word. NO NEED to park a "Girls Keep Out" at the top of this advertise ment They'll shy off quick enough when they find out what it's about. For it's a strictly masculine privilege solace, satisfaction, retreat, call it what you will the joy of smoking a pipe! It's the smoke "for men only," any -s. girl will agree one of the few rights the fi I' women haven't I . crowded us on. And i the only smoke for men, many a thoughtful smoker calls it For the deep consolation and rare comradeship of a mellow, richly aged pipe are some thing every man does well to know. She likes to tee him smoke a pipe ; And you taste the rich satisfaction of pipe smoking at its best when you fill up your bowl with Edge worth. There's a tobacco that's made for a pipe. Cool, dry, slow-burning. Blended of fine. mellow, full-fla vored burleys. You've a rare smoke coming if you've never tried Edge worth. You will find Edge worth at your , tobacco deal er's. Or send for special free sample packet if you wish. He needs his pipe Address Larus & Bro. Co., 105 S. 22d St, Richmond, Virginia. EDGE WORTH SMOKING TOBACCO Edgeworth is a blend of fine old burleys, with its natural savor enhanced by Edge worth's distinctive and exclusive elev enth process. '. Buy Edgeworth - any where in two forms EdgeworthReady Rubbed and Edge worth Plug Slice. All sizes, 15 pocket package to 1.50 pound humidor tin. 1) Klr.'j r.Dr,fc CLOWNS - - - Ki Wednesday SYLVIA SIDNEY in "Ladies Of The Big House' Eschange F E I lusaay, January 12, 193 r n rsar r Ho Melnl ".only! jm . . ;.. ..- . t 1 y i o'clock
Daily Tar Heel (Chapel Hill, N.C.)
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Jan. 12, 1932, edition 1
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