lURSDAY, AUGUST 20, m«
THE FRANKLIN PRESS ANO THE HICHLANDS MaCONIAN
PAftl FlVi
additional
franklin
SOCIAL ITEMS
(Continued from Page Three)
Vir. and Mrs. Sidney Haynes, of
/de, spent the week-end visiting
-s ’Earl Smart .at her home in
st Franklin.
Vir. and Mrs. J. O. Harrison and
ss' Martha Harrison, who have
en visiting Mr. Harrison’s father,
hn 0. Harrison, Sr., for the past
ek left Saturday morning for
arieston, S. C., for a visit with
r Harrison’s sister, Mrs. Harry
Johdan, before returning to their
me in Fort Worth, Texas.
J N. Carpenter, of Coweta, was
long the visitors here last week,
\^Iiss Hazel Waldroo'p was the
ek-end guest of Miss Dixie Nell
hnson at her home in East
anklin.
Louie Johnson and Jo“hn Pen-
igton left Sunday foT Hamilton,
ash., where they expect to find
iployment.
rhe Rev. and Mrs. R. R. Mc-
acken,;Of Clyde, spent the week-
d-at the home of Mrs. Joe Smart,
rom M. Rickman and family, of
,nton, were here Monday to at-
id the funeral of Mr. Rickman’s
Dther, Alfred Rickman.
Miss Katherine Godwin, w’ho has
en visiting her aunt, Mrss Burton
)esser, in Norfork, Va., for the
St two months, returned to her
me on Route 1 Monday.
Jay Matlock, of Atlanta, Ga.,
ent the first of the week'with his
rents, [Mr. and Mrs. J. B. Mat-
;k, at their home at West’s mill.
Mrs. Burton Boesser and son,
irton Charles, Jr., of Norfolk, Va.,
rived ^londay for a visit with
rs, Boesser’s parents Mr. and
rs. John F. Cunningham, at their
irae on Route 1.
Mr. and Mrs. E. O. Rickman and
ro daughters, returned to their
>me at Leatherman Saturday after
ending a week in Washington,
C., Virginia Beach and other
aces of interest.
Mr. and Mrs. A. R. Higdon and
/o children and Mrs. Aiice Child-
s spent Sunday afternoon in
iger, Ga., visiting at the home of
rs. S.-M. Mann. Mrs. Mann, who
is been ill, was rejwrted to be
iniewhat better.
Charles Porter, son of Mr. and
!rs. J. ;S. Po^rter, of Henderson-
lle, is spending several days here
ith his grandmother, M rs. C. C.
iinnln^am,
The condition of J. B. Duvall,
ho has been critically iH at his
Dme near the Jotla bridge, re-
ained unchanged Wednesday.
Uncle Sam Faces Problem
Of Moving Vast Gold Sum
10 Billion Dollars To Be
Transferred To New
Safety Vault
Births
Mr. and Mrs. Paul Seay an-
ounce the birth of a son, Charles
lavid, at Angel hospital on Thurs-
ay, August 13,
A daughter, Freda Katherine,
'as born to Mr. and Mrs. Fred
loore ,at their home at West’s
nil on Tuesday, August 11,
Mr, and Mrs, Carl Higdon an>
ocnce the birth of a daughter,
letty Carolyn, at their home in
-ast Franklin on Monday, July 27.
A sonlwas born to Mr. and Mrs.
)ewey iDent at their home at
Uidsville on Saturday, August 8.
drs. Dent will be remembered as
iliss Helen Shepherd, formerly of
'ranklin,
Mr. and Mrs, Carr Bryson an-
lounce the birth of a daughter,
>ue Ann, on Saturday, August 15,
it their home at West’s Mill,
-ANDS MISUSED
The Resettlement Administration
estimates there are about 650,000
arms, embracing 100,000,000 acres,
3n which families are now trying
to make a living, although the
quality (of the land is such that
'fop farming cannot be expected
lo succeed. These lands should,
either by private owners or gov
ernment: assistance, be co,nverted to
forestry, grazing, wild-life conser-
'■ation, recreation and other non
farming uses.
COST 1 PER CENT
The total cost of the farm debt
adjustment activities of the Reset
tlement Administration from the
start ■ in September, 1935, through
June, 1936, was , approximately 1
per cent of the amount of indebted
ness involved in cases adjusted over
me same period, according to a re-
by Regio,nal Director Homer
B, Mask, Raleigh. N. C.
(Special to The Pres,s-Maoonialn)
WASHINGTON, August 19.-A11
the gold in the United States is
now in the possession of the Fed
eral Treasury. There .are $10,000,-
00t),i900 of it. Gold is worth $35 an
ounce, so that there is a total of
285,742,857 ounces of gold owned by
the U.nited States Government.
This figures out at 17,858,928
j)ounds, or almost 9,000 tons.
Those figures are of immediate
interest in Washington,- because
this whole 9,000 tons of gold is
just about to start on its way from
the vaults of the Treasury and of
the Federal Reserve bapks to its
secure hiding place in the great
new gold vault which has been
co,nstructed at .F’ort Knox, Kentucky.
Ihe problem of transportation
has given the Treasury consider
able concern. If this 9,000 tons of
gold were to be shipped in ordinary
freight cars of the standard ca
pacity of 30 tons, it would make a
train of 300 cars.
That isn’t safe eno.ugh, however,
so speciaty designed armored
freig'ht cars have been provided.
These will be coupled into trains
filled with armed guards, and it is
expected that more than 50 such
trains will be required to move the
nation’s treasure to its new home.
Reason for New Vaults
There are two reasons why the
gold reserve is being stored in
Kentucky, One reason is that the
gold storage vaults in the Treasury
at Washington and in the Federal
Reserve banks are overcrowded.
The most impo'rtant reason, how
ever, is that this is a measure of
military preparedness.
Washington and New York, mili
tary experts believe, are too ex
posed to attack from a foreign
pov,er in case of war. While the
chances are greatly against any
successful raid upon the Atlantic
and Pacific Coasts, yet that is a
possibility, and for years the mili
tary and naval authorities have
been urging the concentration of
gold and. of basic industries i,n the
Mississippi Valley, between the Al
leghenies and the liockies, to make
them more secure in time of war.
Whether the United States can
avoid being dragged into another
general European war is a hotly de
bated question. That Europe will be
at war within two or three years,
even although the Spanish situa
tion may not be the immediate pre
cipitant, is now generally believed
here. The hard-ibojled and some
what cynical observers of long ex
perience feel certain that, whatever
our present intentions, America can
not help being involved if the ex
pected war should drag on for a
year or two,
Wiar and Currency
There is pretty general agree
ment' that one effect of war in
Europe would be world-wide cur
rency inflation. Indeed, the interna-
tio,nal armament race has already
resulted in greatly increasing the
demand, and consequently the price,
of a large list of commodities re
quired by armament makers. Indus
trial production and consumption of
goods ig rising steadily.
Nearly all European nations are
fi,nancing their deficits by inflation
of bank credits. Thus all of the
world’s moneys have a lower pur
chasing power, measured by the
gold standard, than they have had
at any time since the great infla
tion of the German mark in 1920-21.
While the neutrality laws passed
by Congress last year are an effort
to prevent /American bankers from
financing a foreign war, the latest
reports indicate that there are more
than $6,000,000,000 of foreign money
invested in American securities,
which the governments of the vari
ous countries involved could com-
mendeer and convert into-dollars,
thus enabling them to purchase war
supplies here in our own money^
Anything like a United ^ States
government loan to » , foreign na
tion for war purposes is prohibited
under the Johnson Act, to any na
tion 'Which has not settled its obli
gations to the United States. It is
Lticipated here that the .mpen 1-
ing war situation ‘ ^
offers from some of the larger
European nations to settle their
debts remaining from the last war
on some compromise basis. No seri
ous move in that direction has been
made, however.
World Market Changes
The whole problem of intenna-
tional relations becomes more com
plicated as nation after nation
makes further efforts to becom-e
self-contained, and to compete in
world markets with commodities in
which the United States ‘has long
held the dominant position.
Up to a very few years ago,
America was the world’s pri,nbipal
source of supply of cotton, for ex
ample. Normally, 60 per cent of our
cotton goes to foreign markets.
Taking the average of the past ten
years as a basin, however, India has
increased- its cotton production six
per cent, the Egyptian cotton pro
duction has gone up 18 per cent
and Brazil has made the amazing
increase of 216 per cent in its
cotton output. In the same period
the production of cotton in the
United States has decreased by 26
per cent. These .are the ratios for
the last crop year, compared with
the ten-year average.
Now come reports that Mussolini
is planning to develop cotton pro-
ductio.n on an enormous scale in
Ethiopia. The problem that con
fronts America, then, is how to find
new uses for cotton inside of the
United States, while fighting to re
tain and regain its foreign markets
in the face of this enormously in
creased competition.
So far as the foreign trade in
cotton and other commodities is
concerned, economic experts say
that the only permanent solution
would be the equalization and
stabilizatio^i of all the currencies
of the whole world. Jt is obvious,
they say, that cotton which has to
be paid for in liigh-priced dollars
cannot compete with cotto.n pro
duced with low-prictd Indian ru
pees or Brazilian milreis.
The U. S. tobacco industry leads
i.n advertising.
Grain seed will
25 years old.
germinate when
Iowa claims the greatest per
centage of cultivated land of any
state.
The first executive mansion was
the home of Robert Morris in Phil
adelphia.
$ J5,500 Prizes
OFFERED BY
Standard Oil Company
OF NEW JERSEY
YOU MAY WIN
ONE OF
4 University Scholarships Worth $2,000 Each
(Cash Awarded If Preferred)
4 Prizes of $1,000 Each—10 Prizes of $100 Each
20 Prizes of $50 Each—40 Prizes of $25 Each
50 Prizes of $10 tach
Here ife an easy way to win a free scholarship at a leading
university for your son or daughter. These scholarships (covering-
tuition, but ruot living- expenses) are w'orth $2,000 each; but if you
prefer it, you can have the full value of the scholarship in cash.
Any member of the family can enter—everyone can help.
You have four chances to win a scholarship or a big cash
prize, and there are 124 other prizes, of $1,000 or less, for other
lucky contestants.
te winning titles for four pictures,
of 100 words or less on “1 Know
All you have to do is wr
and write a short statement
J'^ssolene Gives Greater Mileage Because:” You can get the pic
tures and entry ])lanks from your ESSO DEALER.
There is nothing complicated about the contest. It is all very
simple and you and your family will have lots of fun choosing
titles for the pictures. Get your entry blank today. All entries
must be made by September 30, 1936.
Go to Your ESSO Dealer for
Official Entry Blanks and Details
ESSO DEALER
W. M. RITTER LUMBER CO.
Rainbow Springs
ESSO DEALER
RALPH L. WOMACK
Porter & Way ah St.
F ranklin
ESSO DEALER
LEE POINDEXTER
Franklin-Dillsboro Highway
F ranklin
ESSO DEALER
JOHN L. CUNNINGHAM
Public Square & lotla St.
Franklin
Esso Dealer
H. P. RAY
lotla
Esso Dealer
C. N. WEST
West’s Mill
Esso Dealer
J. D. McCOY
Gneiss
Esso Dealer
J. G. STORY
Route 2
F ranklin
Esso Dealer
C. H. ZOELLNER
Highlands
Esso Dealer
WILEY CLARK
Cullasaja