Fighting Word “Inflation” Again Rings In Congress; Expert Tells What It Means ,pyw words so Important to the gign-in-the-streat as "Inflation" are g.5 little understood by him. In a jpnps of two readable, understand-1 |bi, stories, Claude A. Jagger. fi nancial editor of The Associated press, helps to acquaint you with ^hat inflation means. The aeoond will appear soon In the Cleveland gtar.t By CLAl'DE A. JAGGER lAs-neU'ed Press Finanelal Editor) NEW YORK.—UP)—A myatlcal ( word echoes through panelled and! tapestried offices high in Wall , reefs .skyscrapers, rumbles In the; halls of congress, is heard In the dignified offices of the federal treasury, and swirls about the trnc# leg posts of the Stock Exchange. Tins ward Is “Inflation." Prob ably few who hear.it and few who use" I; understand just what It means Yet few words, if Indeed any other word, so qul'b^y stirs emotions of political, financial and business leaders these days. It it arts arguments, destroys frlend ihips. stirs not only anger but fear, end caues timid capitalists to shift their millions Into fresh havens. Though Inflation may be little understood. It Is well known that In its severest forms it can bring min unequalled by any force per- J flaps save wax. xuc mjM iciuuie experience with it in recent times was in post-war Qermany, where the currency became valueless, a market-basket frill of money would scarcely purchase a loaf of bread, the »reat middle class was impov erished, and hunger and intense differing swept over the land. In flation is not new, Rome saw it. In the 1780's the infant American Re public suffered from it. In Boston, Samuel Adams found that a new bat and a suit of clothes cost him $2,000. Money’s Value Deelinas Very broadly, the economists say, Inflation means a decline In the talue of money, and a consequent rise in the price level. It occurred In Rome when Nero reduced the metallic content t>f the , coinage. That was easy to understand. With less precious metal In each coin, the seller of a new tunic naturally demanded more coina. But today, when we use chiefly paper money, end more Important atill, transact about 90 per cent of our business by l use of bank checks, fhflatlon is 1 more illusory. One of the most commonly ac cepted theories of Inflation is that it occurs when the effective vol ume of money and credit increases faster than the physical volume ol l-ods. Mass Emotion Thus, if the number of dollars available to purchase a quantity of goods doubles, but "the quantity of goods i-ematns unchanged, the price of the quantity of goods doubles. This, cf course, ia an extremely sim plified version. It might seem Irom this that effective control of money and credit could be accomplished, and prices kept stable. Indeed, that is one of the objectives of reeeni monetary and banking legislation. But a vital factor which is be yond ctntrol, economists explain, Is mass emotion. If confidence in the effectiveness of the control should vanbh, the result may b« a rush to spend money for fear it may be worth less tomorrow. Something of that nature happened In Germany. Once such a movement starts, money is spent faster and faster, prices rise, the need for more and n.ore money to carry on the move ment tends to speed issuance of puper currency. No one wants to bold a fixed income security like a w,qu. UQYcnunQiu* ticasuries cannot finance them ■'plvc# by selling bonds, and are torrpd to print atill more money, s,iph a movement soon becomes ln Jiation in its most virulent form. The renewed flurry over Inflation hi the United States has developed 0Ter the continuing spending and borrowing by the government to i»> off the bonus Jay printing money. Conservatives ask, how long can top credit cf the government be strained? And if money is print will it not destroy confidence in tho currency? Defenders of govern mp.u spending answer that Amer >pas per capita debt la still well Ul;tier that of England or Franoe, RI'd tlvwe who propcse printing r "'icy answer that there is nearly twwp «s much gold reserve as money pirculation. ®AN °N UNIVERSITY MEETINGS MM BE LIFTED DURING WEEK *" HAPElj HILL, Feb. 10.—The mild epidemic of Influenaa, colds end snifnM which has beset uftl 'ersity students for the past two vpeks had subsided today to such " fxwl*nt that it was indicated that p ban pfaced upon large public mgregationa by the administration WOuld be lifted this week. II ASH IN 8PAIN LEAVES 1 DEAD, OTHERS WOUNDED Madrid, Feb. 19.—(VP)—Another an was killed and several more funded yesterday in a clash be ™f,en victorious political leftists police in Garagosa as the rest Spaln Qu eted down after Sun 14 Pailiamentary election. Electrification Bill 1$ Passed; T o Be Permanent Voted By Senate Agricultural Com mittee; Make Loans On Power WASHINGTON, Feb. lt.-Crea tion of a permanent, rural electrift cation administration to spend SI,* 000,000,000 In brlnslng electricity to the farm* ha* been voted by the Senate agriculture committee. It approved the Norrl* bill under which $100,000,009 would be set aside each year for 10 years for loans to States, municipalities or non-profit organizations to build generating plant* and distribution lines in sreas now without electric power. The loans would be self-liquidat ing over a period of 40 years and would be made at a three per cent Interest rate. On Emergency Basis. The committee's action was wel comed by Morris L. Cooke, admin istrator of the Rural Electrification administration, which U on an ergeney basis. It already has made loans exceeding 94.000,000 for the construction of nearly 4,000 miles of distributing lines. , In a letter to the committee, Cooke said: "The policy of the utility com panies has been to skim off the cream of the business. "Such a policy has precluded the extension of sendee to nearly 90 per cent of American farms and has been paralyging' ln Its effect. "Unsocial practices must give Way to the policy of considering electri fication of an entire area at one time, a progressive program which would be made possible under this bill.” Secretary Wallace also warmly tndorse. Paper Plans The garden you plan with a pen cil in February may be a far finer thing than the one that actually grows in spring: but um the pencil anyhow. It Is best to plan the whole thing on paper, and It’s essential that various vegetables be so ar ranged that the tall-growing crops wont shade the smaller plants. Generally speaking rows should run north and south, but not, of course, if that direction Is counter to the long way of the garden. It there's any choice, the land should slope gently toward the south or southeast. Courtmartial got Started Monday Washington! Feb. 10.— MT. SINAI, Feb. I*.-Of interest to their many friends is the an nouncement of the marriage of Mias Rena Mae McSwain of Mt. Sinai community to Ernest McOlpnls of Reaver Dam community. The wed ding took place at Oaffney, Friday, February 14th. The bride, a pretty blond, waa dressed in a crape dress of powder blue with black acces sories. She is the daughter of Mr. and Me Rubin McSwain of Mt. Sinai is very attractive and popu lar among the younger set. She received her education at No. 3 high school. Mr. McGinnis is the son of Mr. and Mrs. Jim McGinnis of Beaver Dam comnnjnity and • a very successful fanner. He received his education at Lattimoi* high school, The bride and groom were accompanied to Gaffney by Mias Ida McMurry and Arlon McSwain of Beaver Dam. After the ceremony they motored to Charlotte where they spent the night with Mr. and Mrs. Bryan McGinnis, a brother of the groom. The young couple will make their home with the groom’s father and mother. I Miss Nortn* Rollins of Morgan ton spent the week-end with her mother, Mrs. J. H. Rollins. Mr. and Mrs. Thurman Hamrick and Miss Selma Hamrick of Poplar Springs, Mr. and Mrs. Ector Har rlll of Kings Mountain spent a ■thiU Hunflotl tfieal. Essie and Ocle Harr ill and Clive Harrlll. Junior McSwain has mumpb. Mr. and Mrs. Gordon Bridges of Flint Hill spent the day Sunday with Mr. and Mrs. 8. A. Clary. Mr. and Mrs. Terrence Bridges, Shirley and Calton Bridges were dinner guests of Mr. and Mrs. Parris Jones of Lattimore Sunday. Mr. and Mrs. Ernest McGinnis, Mr. and Mrs. Olen Humphries of Beaver Dam were dinner guests of Mr. and Mrs. Rubin McSwain Sun day. Vets In Paraguay Set Up Government ASUNCION, Paraguay, Feb. 19.— (FT—The veterans of the war with Bolivia yesterday set up a provi sional government of Paraguay and forced President Ayala to resign. Ayala, who had fled from Ms palace after loyal polios lost a hard battle which raged all day yester day through the atreeta of the cap ital submitted his resignation by radio from the gunboat, Paraguay, on which he had taken refuge. The message was addressed to Col. Ca mllo Recalde, leader of the revolu tionaries, who with his followers, proclaimed the war veterans’ hero, Col. Rafel Franoo, provisional presi dent of Paraguay. Ayala was then permitted to land from the gunboat and return to his residence with full guarantees. But Both Went to Dog Pound! ft -i .* >a ■ j •"Take m* U you turn* you can," Is probably What the little pup defiantly thought as he bunched in the protection of this St. Ber nard after elty authorities In , Seattle started a dries to round np all unlicensed doge and send thatn to the olty dog pound. But thn little dog end the big one went to the pound lust the urns. New Housing Plan Begins In Gaf f ney GAFFNEY, S. C.. Feb, 19.—A nett federal housing compalgn, beginnina sometime in the early spring and carrying an extensive program ol building and repair work, will lx prosecuted vigorously .throughout th< elty and suburbs, according to an announcement yesterday by Floyd L. Baker, local chairman of the Federal Housing Administration. Sums of money up to $50,000 at five per cent interest will be avail able to cltleens of the city who de sire to either repair or remodel old buildings or build new structure* Mr. Baker said yesterday. Fedeal money for the project hai already been apropriated, according to Mr. Baker. The major portion ol the sums loaned wiH be made Indi rectly through various corpora U organiseUons, life insur ance companies, banka and othei lending agencies. ian The total amdM||S^>uilding per mits, showing ^pairs and bulldlngi is year of 1935 wai $19|v^vjfi$$gung to G. A. White es.buudlng’mepector of the city This camp*r«tlHfcLi$53.2M.22 lr 1914. Gr«ek American* Work On “Refuge” GASTONIA. Feb. 19.—Chris L» ventis, official of Ahepa, nation* organisation of Greek-Amerlcar citizens, revealed here Monday tha the organisation was working or plans for the establishment of at orphans’ home and refuge for aget and infirm Greek-Ametlcsns, will Gastonia as a possible sit* for th< project. Mr. Leventi* said that a commit tee, working on orders carried in i decision reached at a recent Ahepi convention, already had inspects the site near Gastonia formerly used for Monastery Bt. Stephanos Greek-American college, and hat taken it under advisement as a pos sible location. The property is at Linwood. sev eral miles west of Gastonia, ,an< has several buildings standing or it. Worker* Celebrate Over TVA Decision KNOXVILLE, Tenn., Feb. lb tip)—Thousands of Jubilant TVi workers resumed their tasks wltt fresh confidence today while muni cipal power advocates planned i new drive In the wake of the cour decision upholding the acts of thi Tennessee Valley Authority. Announcement of yesterday's rul ing on TVA’s purchase of Alabarm Power company property toucher off a wild impromptu celebraUor all along Uie great Tennesse val ley and more speeches and paradei were slated at downs of large an« small towns In the area today Work went forward at five largi and amall dams, a part of the am bilious navigation and power proj ect and announcement was made of a sixth dam to be begun soon 1208,000 APPROPRIATED FOR MOUNTAIN HIGHWAY MARION, Feb. 10.—An approp. nation of 0905,000 has been made for the relocation and construction of a 15-mile stretch of highway 321 between Woodlawn, 10 miles north of Marlon, and Linville Falls, according to recent announcement received here from the office ol C&pus M. Waynick, chairman of the state highway commission. Rev. John M. Outler, Methodist minis* er, owns a summer home at Young Harris. Ga., that he built with wedding fees. Fallston Social & Personal News Claud Stamey III In IJnroln Hoapl 1*1; T. A. Lee Returns From New Vork. (Special to The Star) FALLSTON. Feb. 19..The Christ ton Endeavor society had an unique aocial Monday evening in (he form 01 a Leap Year party. The affair was held at the. homo of Rev. and Mrs. H. F. Coleman and a large group wa» present. Claud Stamey who wa* taken to tiie Lincoln hospital In Linoolnton Bungay, is quite ill. Mrs, Henry Dixon is confined to her bed with an injured hand which has developed blood poison ing. Her viattors Sunday were Mr. and Mrs James Hnrrii-. Mra. A. K Harris and Mrs. J. S. Harris of Elen and on Monday. Mra. Claud Dixon and her son. Monroe, of Bel wood and MW Virginia Harrta of -—•—— ; ———— Zton oarnc to see her. The ladies of the Baptist Ml« aionary society held their monthly meeting in the home of Mr*. T. A. Lee Wednesday afternoon. Mrs. L E Willis had the interesting pro gram In charge. Miss Flotse Stroup spent several days at her home here because ot quarter-ending holiday* at A. S. T. C. In Boone where she goes to school. She returned Tuesday. T. A. Lee returned Tuesday from New York City where he has been on business for the past week. Miss Ruby Warlick of Lawndale waa the waek-and guest of Mr. and Mrs. Harvey Warlick. Mlsaea Alice Falla and Mary Lou Hoyle spent Wednesday and Thurs day with MU* Mary Frances Bla rney of Folkvlllt Miss Thelma Hc^Ic U spending several days with Mlgs Nelle Bta mey of Aahevtlla. Borne of the last specimens of the red-billed pigeon common In Texas a century ago. am on display in a Ban Antonio boo. Mitt Auttell Returnt From Florida Trip (Special to The Star.) EARL, Feb. 19.- R. L. Wylie and daughter, Miss Alma Wylie end Bobby Joe Callahan who have been t with flu and pneumonia are re ported as Improving. M. H. Sepntigh la seriously 111 with pneumonia Mrs Laura Rhllbeck and alater. Ml** Fannie Earle are confined to their bed with flu. Mias Mary Sue Austell returned home Monday after visiting her brother, Heyward Auatell, and Mrs. Austell in Trenton. Florida since Christmas. Mr. and Mrs. Sylvanua Jones of Marlon were callers at the home of Mr. and Mrs. W. D. Earle Sun day afternoon. Che*. Ellis of Kannapolis spent the week-end with hts mother, Mrs. J. P. Jane*. * - *1 *> J. f. Hulsey moved last w^ to Hoachton, Georgia. * *«. Mr. and Mrs. Clyde Borders and family of Ninety-Nine Islands, 8. C. Wfrr week-end guests of Mta. D. J. Moss, Misses Prances Orsham of Lattl more and Helen Cl rah am of Bel wood spent the week-end with home folks. R. H. Bepaugh la Indisposed with flu. Picket Lines Hold Goodyear Company AKRON, Ohio, Bah. ll.—ie—Rck line, led by union officers, shut off operations ot plant No. 9 of the Ooodyear Tire and Rubber Oo. to day and repuleed polls# who at tempted to reach the plant*# fates. Company official# made no com ment but membera of the Union Rubber Wotieen of America said they would seek a conference with managers over layoff* of tire build ers which lod to the plaketlng. —--iwt " i’ 'IS* ft?' ■ -«««< H ■ ■ tlffetv n ua *«fl> btMlvytM ,