Newspapers / The News-Journal (Raeford, N.C.) / June 26, 1947, edition 1 / Page 4
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i ' s & IH '■m lews- > -wj ' '■'jSi.'t',' - Published Every Thursday at Raeford, N. C. Subscription Rates.„. $2.0« per year in advance PAUL DICKSON Editor and f^blisher Entered as second-class mail matter at the post office at Raeford, N. C., under the Act of March 3, 1870. tHAT’S I A National Contrihutor^s Column By Rich Fowler (Copyright 1947, Rich Fowler, Not Inc., Chicago) Deflation and Depression m. We are slowly coming to realize that inflation is something that happens to money. The money supply of this country has been inflated in the past eight years by an increase from a^ round $60 bUlions to $170 billions. This increase in the num ber of dollars available adulterates the dollar just as water adulterates milk. From this inflation of the money supply result increased prices and higher cost ot living. Some day this money supply will have to be substantially deflated, or prices and wages will have to Ccftne up to the point where they are in balance with the money supply. Meanwhile we are wasting a great deal of time and effort talking about deflation of prices without doing anything a- bout a deflation of the fantastic amount of available money which is the real reason for increased prices. .The political leaders who are responsible for our financial policies seem more afraid of the word deflation than the word- inflation. Both of these words have to do with money, and price and wage fluctuations are the direct results of the eco nomic pressure they create. Our government leaders are earnestly trying to keep prices down and they are carrying on a propaganda campaign in- toided to bring about still lower prices. But we are in the position of the man in the rowboat whose oars are overboard with the rapids just ahead. While there is political talk about lower prices, there is no action to bring about a deflation of the money supply. Thus though the talk may sound good, there is no real accomplishment. Propaganda to lower prices under present money conditions may develop a buyer’s strike particularly in the field of lux uries or semi-luxuries, but only to a lesser degree or for shorter time in the field of necessities. Curiously enough a A buyer’s strike brought about by such propaganda for lower prices would be Inore effective in the very field in which small business is principally engaged. In other words, propaganda for lower prices without' de flation of the money supply will hit not big business but little business. Recent efforts on the part of some businesses to re duce their prices in a community effort to stem the tide of in flation proved not to be a success. Big business, supplying vitll needs and organized to face and weather slumps and depressions, can come through buyer strikes with much greater ease than can small business. The fact that so many smaller business organizations are engaged in the production of luxuries and > semi-luxuries, while the very meaning of necessities makes their production big busness, means that the little fellow suffers first and hard est when the public decides not to purchase goods because of prices. So far as the current movement for lower prices is effec tive, its most important result will be to hinder production. When retailers, in the effort to bring about lower prices, press to hard on manufacturers, ^he result will be stoppage of production—and the loss of jobs. This is what artificial deflation means. If it were carried far enough and long enough, it might develop into a depres sion. Actually, with the big supply oof money available to the people, a buyer’s strike and a consequent reduction in production are not likely to evolve all the way into a depres sion. However, a distorted concept of the issues involved in in flation and deflation on the part of the people and their gov ernmental representatives could and probably would lead to full inflationary paruc and the mevitably resultant depression. For, if buyers who have staged a strike against the pur chase of overpriced merchandise despair of lower prices in the future, they at once brmg a rush of buying regardless of prices. ORIGMAIi (XMnRIBUTICWS PAID FOR on acceptance, at our established rate. No contributicms returned. Each ntust be acccon- panied by signed statement: “This composition is my own, origlnri work.” Sign your own-name and address, whidi will be with-heltt if you request it. Contributions will be published over your own name or a pen-name, as you choose, with name of home-town. Type contnbutions or write plainly. _ - Address: Rich Fowler, 2 West Walton place, Chicago 10, HI. WHAT’LL THEY THINK UP NEXT? While reading the news in the papers I find I am often perplexed By the progress of Man In the cosmic Plan— Say, what’ll they think up next? They’ve harnessed the strength of .the atom— With rays and electrons we’re vexed— The signs that we see ,on The churches, are neon— Say, what’ll they think up next? We’ve radar to guide our blind flying (“The blind lead the blind’ is our text—) A mechanical brain Makes the .universe .plain— Say, what’ll they think up next? why pay for' - ' get ^ 8^e ef^ by just ing our kids craydl^^cl ^ —^Billy Boy, Beverly Hills, Calif. TINY PICTURE " The rain . .... Sews ^llle gray skies With steel needles And silver thread . -H. T. P., Exeter, N. H. YOU SAH) a MOUTHFUL! It is much better to have a^fistfull of teeth in your mouth than to have a mouthful of fists in your teeth! —Joe Brill, Freeport, Tex. f * * PARTING SHOTS ^ Mommy, what was that OTHER (cute thing I said? —R. F. MORE ABOUT Farm Notes Hybrid seed corn is being pro duced this year on the farms of Mrs. J. S. Johnson, T.' D. Potter, N. L. McFadyen, and T. B. Up church, Inc. Man’s shrinking in stature each hour— With self-prepared doom he is heked— The more he makes magic The more he is tragic- Say, what’ll they think up next. —Barney Bugle, Buena Vista, Colo. ‘ s^ SCIENCE NOW HAS A gadget that will measure accurate ly one 1,000,000,000th of a second. AHA, THEY’RE STILL tryihg to measure that bit of‘time between the kids’ ^ FINISHING THE DISHES and STARTING TO THE MOVIES! • • • THAT’S WHAT SHE GETS FOR BEING NOSEY! Dear Rich: My sister-in-law is suing the beauty parlor. Got her nose k in one of them machines-now it has a permanent wave! —■Hiram Quick, Plain Dealing, La. • • • TRAFFIC THOUGHT FOR TODAY Don’t drive with one headlight. The other fellow mi^t not be any good at guessing games! ^ ' , BEGGING THE QUESTION i Met my gal in the Month of May; She asked me soon to ^et the day. 1 She wanted June, If you were I Would July? July? July? July? —Simon of Pomona, Calif. • • • DUMB-BELL DICTIONARY Hospitality— The custom wherby you exchange your good food (and privacy) for the privilege of suffer ing in the other guy’s house in a week or two. ■ ^ —^Marty from Martinsburg, W. Va . • • • OKAY, I CALL YOU—SCARFACE! Dear Rich: The railroads sure could use some new roadbeds. I tried shaving on the train. Just call me Scarface! —Koko the Clown, Glendale, Ariz. * * * . SOME FOLKS ARE BORN THAT WAY- OTHERS GO TO COLLEGE! The program for Tuesday of The Farm and Home Week (held the last week of August at State College) will be information on Agronomy and livestock by Dr. T. B. Hutchison of VIPI and R. L. Lpvvorn of State College. Agrono my, Forestry, Poultry, Agricul tural Economics, and Horticulture will be other subjects discussed during the morning. Demonstrations at ** McCullers test farm will be conducted in the afternoon. For extra grazing, plant Pearl 'Millet. It will famish grazing within a month after plantW if weather conditions are favo; able. Drill 20 pounds per Apply 200 pounds of fertilizer per acre. / acre. On farms where corn is ex pected to be short because of the bill bug,or other reasons, com bine milo should be planted be fore July 15. Plant 10 pounds per acre in rows. Apply 200 tO‘ 400 pounds of fertilizer per acre. Milo yields more grain than corn per acre and for feed is as good. 0 PERSONALS Mr. and Mrs. W. B. Barefoot and sons and Mrs. W. J. Tart at tended the singing convention at (Benson Sunday afternoon. Among those who attended con ference at Camp Forest near Che- raw, S. C.sjast week were Mary Sue and Betty Upchurch, Iris Thomas, Florence Cameron, Sara Jane Cole, John Davis and Betty Ashburn. , Mr. and Mrs. H. O. Langdon and children moved to Lumberton Monday, where Mr. Langdon has accepted a position as manager of the Lumberton Drug store. He has been reidaced at the Howell Drug store here by his brother. Mack WiUiam Langdon. The housing shortage ha^gotten so bad that Uncle Fede- i.. This«vave of purchasing hits a market depleted by lessen ed production, and swiftly and inexorably puts the inflation of prices into high gear. fm.: rick has rented out his room and has moved out under the front stoop. You oughta see hime. Boy, is he stoopid! —Old Batch, Hickman, Neb * * • WHAT BROUGHT THAT ON? Dear Rich: Why shouldn’t the willow weep? Guess youd weep, too, if you had to stand with your feet in the water! ^ —^Ritty from Carson City, Nev. OKAY, KITTY—^LET ’ER weep. Durned if Im gonna stand out there AND SYMPATHIZE! SO, WHO’S GOT WALLS? Dear Rich: ' The wife and I were over visiting a friend who just paid a modern decorator a fancy price to ‘do’ their walls. Shuck^, WE WO 1 0 80KC 1080 Watts Percy Niven spent several days here this week en route to his home in Dunedin, Florida. He had just returned from a business trip to Chicago and New York. Mr., and Mrs. Bill Howell and son spent last week at ,Wrights- ville Beach. Miss Eva Leach of Mt. Holly and Miss Jane Leach of Pinehurst were guests in the home of Mr. and Mrs. Grady Leach for several days last week. Miss Helen Cook of Charlotte visited Miss Eva Lea ch here.. 0 Photos courttsy Now York Dross ItsslilstU Black crepe combined with black and white print for an overskirted one-piece dress. BIRTH ANNOUNCEMENTS IE woman who is fashlon-and- T H] budget conscious will like such Born to Mr. and Mrs. Cliff Conoly a daughter, Monday, June 23. Mr. and Mrs. W. D. Brown an nounce the birth of a son, John Roland, Thursday,,June 19. Dr. and Mrs. Robert McDonald of Thomasyille announce the birth of a girl, Sally Lorraine, Tues day, June 17. O'] n o lOK dresses as the one pictured above for more than one reason. First of all. It Is typical of modestly-priced New York dresses showing a lead ing trend of the season — in this case, the newly-retumed and fem inine overskirt. Again, the dress combines the practicality of the basic black Crepe and the pretti ness of print, making it an all purpose costume. As for coolness, the neckline speaks for itself, the sleeves are brief, and the overskirt eliminates the need for anything more than a chemise beneath. aoL— [o: o o NOTICE B O Oarload of Galvinized Metal Roofing o y O B O HOKE EXCHANGE FOX DEALER Agent o o Raeford, N. C. Phone 4301 [OEao o B o IMMEDIATE DELIVERY ON STOKERS It is important to member that while inflation and defla tion are things that happen to money, depression is some- Hiing that happens to jobs. "To face thje problems of prices and wages^wdth^ a clear picture of these three vital factors—in flation, deflation, and depression--.^ to run the risk of fall- f mg into the fatal error of believing that we can successfully deflate prices without deflating the money supply, and that , the resultant aftermath of an artificial deflation will not carry witii it both swiftened inflation and a severe depression, or perhaps the financial and economic and political chaos which follow a runaway inflation of money. v. It is time for everyone to recognize that the heart of the in- flation problem is the money supply, not prices, and that the meaning of the word depression, which we hear uttered so often and so glibly nowadays^is a severe and crippling drop in employment. ' Artificial deflation could cause depression; inflation will certainly cause it. Planned and careful deflation of the mon ey supply, with a high level of production maintained mean while, is the obvious and sensible solution to the threats in herent in inflation. Thomas I. Parkinson—Continental Press Syndicate HIGH QUALITY FOR TOBACCO BARNS AND SFECIAL LOW PRICES! For average size barns, price $145.00 Full set automatic controls, 22.50 T. B: UPCHURCH INCORPORATED $167.$0 TERMS: pay only $50.00 down, balance of $117.50 Sept. }5th 1947. No interest or carrying chc^rges. STOKER CURING IS THE FINEST WAY YET KNOWN BAUCOM AmUNCE CO. V ' PHONE 3221 — — — RAEFORD, N. C.-
The News-Journal (Raeford, N.C.)
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June 26, 1947, edition 1
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