North Carolina Newspapers

    Editorial
THE CBARL0TH LAK)t JOURNAL
AND DIXIE FARM NEWS
Published at Charlotte, North Carolina
H. A. Stalls, Editor and Publisher W. M. Witter, Associate Editor
a* second-class mail matter September 11, 1931, at the
lPo« («,c, .rS‘S. N. C„ »rd„ th. Art o( Con.rt.. .(
March 3. 1879.
Oldest Bona Fide AFL Newspaper in North Carolina, consistently
the American Federation of Labor and its members s nce U
was founded. May 12, 1931. Approved by the American Federal or.
of Labor in 1931.
Endorsed by Charlotte Typographical Union N“"\b*rr^iifinFJJ.'
fliiaie of lharlotte Central Labor Union and the North Carolina Fed
eration of Labor.
Services- American Federation of Labor, U. S. and North
CarolTw Departments of Labor, and Southern Labor Press Associa
tion.
The Labor Journal will not be responsible for the opi™’"* of(°£
MEMBER SOUTHERN LABOR PRESS ASSOCIATION
."LET THE SUNLIGHT
OF A
FREE PRESS
8HINE IN DARK PLACE8"
SOUTHERN LABOR PRESS ASSOCIATION
' $
WEEKLY BIBLE THOUGHT
“Brethren, if a man be overtaken in a fault, ye
which are spiritual, restore such a one in the
spirit of meekness; considering thyself, lest thou
also be tempted.”—Galatians.
“No Depression This Year,” Says Babson
.... Roger Babson says we will
have the depression, but not thia,
year. In one of hia articles on!
the financial pages of the big
dailies, of recent date he led off
with the following:
“Back in the early thirties I
heard Will Rogers say that the
United States was the only nation
that ever drove to the poorhouse
in an automobile! We will have
another major depression some
day, but not this year. Moreover
when it does come we will not
drive to it—at 70 miles per hour
—like we did in 1029. We will I
walk into it gradually, step by j
Step, over the next two or three
years, unless we have war. Po
litically. I believe that it might
be good policy on the part of the
Republicans to let the Democrats j
win the national election in 1942
and inherit an era of depression
like Mr. Hoover did in 1928. The
Republicans missed the chance of
a lifetime in that presidential
election by not letting A1 Smith
win—the depression.”
Now. Mr. Bahson is a very
cautious commentator, and does
not, always agree with others in
his profession. You can see his
Republican leaning by telling the
Big Boys to let the Democrats
win the national election in 1952
and inherit it—the Depression.
He goes on to say:
“The pouring out of billions of
dollars to keep communism in its
own back yard will ultimately
reach a day of reckoning when
• our books must be balanced.”
Mr. Babson is fair enough, in
closing his article, to say:
“On the other side of the ledger
in and spite of all the above, our
present fundamental economic
structure is sound. There is an
abundance of money and credit
facilities. Our banking institu
tions are stable and satisfactory.
The government will spend around
$42 billion in the year beginning ,
July 1. The farmers still have |
fair price supports. The chances
are that taxes will not be in
creased this year. The admin
istration and Congress are fully
aware that business must not be
hindered, but encouraged this year
if they want to hold their jobs.
Propped-up prosperity will pre
vail for the rest of this year
amids readjustments. There will
be no major depression in 1949."
Labor leaders, and the workers
in general, would find it enlight
ening to pay more attention to
the financial pages of their big
dailies, than to the Sport pages.
They will find the stock quota
tions not dry reading, and the
dividends declared by the Big
Boys—that are "going broke’’—
of much interest. Many of the
financial commentators see the
gradual downward trend. When
you read Lewis M. Schneider’s
Trade Winds in The Observer,
same issue, you will find a trend
running thusly:
“Tha crumbling process will not
continue every day. There will
always be technical rallies. But
the trend arrow points down.
“Lower prices Increase dividend
yields. But will present dividend
rates be maintained? The action
of ‘blue chip’ phares show doubt
on the part of wealthy investors.
“Brokers admit that most in
formed investors currently prefer
a liquid position. But nobody ex
pects a 1929-112 depression to re
peat. There’s no need to fuss
and wonder why prices a*e going
down. Disturbing economic fac
tors warrant the slump—as al
ready reported here.
“The postwar deflation is def
initely under way. Durable goods
sales — autos, steel, farm equip
ment, etca.—have joined -the de
cline started late last year in
radios, textiles, shoes, tires, etc.’
And in the meantime Wall
Street and its stock markets see
stock staking new low tumbles
some going back to a pre-war
basis, but coming back again, to
a degree, all of which lends to a
feeling of uncertainty and uneasi
ness—but, they say. we are going
to pull through all right. So we
will just sit still in the boat, and
try to rida the storm out.
AT A CONSTANT
SPEED OF
45 m.p.h.
55 m.p.h.
65 m.p.h.
YOU CAN DRIVE
400 MILES IN
8 hrs. 54 min.
7 hrs. 18 min.
6 hrs. 10 min.
YOU HAVE AN
INJURY ACCIDENT.TW
ouuices of someone
8EIN6 KILLED ARE
1 in 16
1 in 12
1 in 6
NATIONAL SAFETY COUNCIL
THE MABCH OF UttOl
OUT OP EVERY THREE
AMERICAN WfcWlENGF WilORXlNG
AGE IS PRAWING A PAYCHECK
fHTimiTTmTrTrpr'
%SN ENGLAND AN ACTCF
PARLIAMENT mMS PASSlD
IN I2EG FOR CEGUATiNG
“WE PRICE OF BREAD
BY PUBLIC HEARINGS.
-Y in
OntepnATIowai fyssccvsnotJ
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TRUCK LINES, INC.
SERVING NORTH AND SOUTH CAROLINA, TENNESSEE UNO KENTUCKY
' Terminals At
CHARLOTTE, N. C. — SPARTANBURG, S. C
GREENVILLE, S. C. — FLETCHER, N. C.
KNOXVILLE, TENN. — CINCINNATI, OHIO
MAIN OFFICE: FLETCHER, NORTH CAROLINA
    

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