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THE PERQUIMANS WEEKLY, HERTFORD, N.: V& FRIDAY MARCH 9, 1951.
LOOKING AT Galley; ONE
THE ARGUMENT OVER
- We do not pose as a financial ex
port, having tremendous 'difficulties
Jn connection with the problem of
making: income meet outgo in connec
tion with our personal establishment.
Nevertheless, we have been mter
ested in the difference of opinion that
xist3 between the Treasury , Depart-
' unent and the Federal Reserve Board
3( to the advantage of increasing
. existing interest rates. Secretary of
the Treasury John W. Snyder says
that actual experience shows that
higher interest rates will not have
-a retarding influence on inflation,
r Mr.. Snyder points out that in 1919
1920, short-term money was available
to the Fedej-al Government at six per
cent and "call money" went to about
thirty-three per cent. Yet this high
rate had no noticeable effects on in
flation, which did not end until the
crash. Mr. Snyder says it was the
same again in 1929, when short-term
money for the Government went up to
five per cent and "call money" could-
not (be had for less than twenty per
cent. - these rates, he says, had no
apparent effect on the inflationary
spiral" which continued until it, too,
nded in the big crash.
Mr. Snyder points out that the
Government of the United States is
now paying $5,800,000,000 annually
for debt service. ,He says that a
"substantial" increase in personal or
corporate tax rates, or both, would
te necessary to avoid deficit financing
if the average interest rates are per-i
half- per-cent level contemplated for
the period of defense mobilization.
: There is considerable pressure for
higher interest rates, of course. The
people with money to lend, including
insurance companies, financial insti
tutions and private capitalists, natural
ly want to get as much income as
possible for the use of their money.
Reserve Board officials have argued
that higher interest rates would tend
to contract economic operations and
thus prevent inflation. Mr. 'Snyder
does not agree with this theory.
HOOVER'S EASY WAY TO
PEACE AND SECURITY
The Hon. Herbert Hoover, only liv
ing ex-President, continues his ag
gressive discussion of American for
eign policy and suggests a ten-point
program to replace the present inten
tion of the Government to send more
ground troops to Europe and to con
centrate on the defense of Western
It is important for the people of the
United States to understand the issues
involved in the "great debate" that is
now going on. Mr. Hoover, Senator
Robert A. Taft, of Ohio, and others,
including some Democrats, are bitterly
critical of the Adeministration pro
gram. On the other han'd, Governor
Thomas E. Dewey, twice the nominee
of the Republican Party for the Presi
dency, while critical of the Admini
stration's handling of foreign affairs,
denounces isolationism and insists that
the United States must play its role in
the defense of free nations and free
Mr. Hoover's ten-tpoint program in-
mitted to go .beyond the two and one-eludes:
(1) The use of our overwhelming
productive power to build up air and
naval strength and a supply of muj
(2) If Western Europe is attacked,
to use overwhelming -air and naval
powew to the limit.
(3) Supply munitions to nations tid
ing their utmost to defend them
selves. ' " ' "
(4) For economic, political and mili
tary reasons, avoid the creation, of
land armies to he used in expeditions
to Europe or IChina.
(5) To withhold additional divisions
from Europe until more military
strength has been developed and there
is evidence that the Europeans' have
dissolved their disunities.
(6) Reduce national expenditures to
a level that can be carried over a long
term of years and avoid economic di
saster which could destroy freedom.
(7) To defend Formosa, the Philip
pines and Japan by naval and air
forces, i Also,' supply munitions to
Chiang Kai-shek and stop non-ICom-munist
nations from providing sup
plies to Communist 'China.
(8) Give full independence to Japan
and Western Germany in order to re
create the "great dams" that these
people constituted against Russian-
NOTICE OF SALE
To help settle the estate of Octavious C. Long, Sr., late of
Perquimans County, North Carolina, the following farm equip
ment will be offered for sale at public auction at the home place
located two miles south of Bethel, March 15,-1951, at 10 o'clock
Cole Corn Planter
- Middle Buster
Peanut Planter '
v Cart and Wheels
Harrows v ;
Disc Plows -Fertilizer
Hoes, Forks, Rakes, Hooks, Peanut Hay and
Many Other Items For Farm Use.
TERMS OF SALE: CASH. -
The Right To Reject Any Bid Is Reserved
t ffafeinrh VI Innnr Arlmmictrotnr
' IIU.UICH If. L.UII&. fU.iil.IUJU (IIUI
Your telephone and!
directory at your perfect
aed pages give yon the nunes ' :"
or iu community 1 leading
hops and senices all may to
help you quickly as tds
phone call. .. . ,
So sere time Mr step.
Shop quickly throagb. th '
: cUudfiea page of your Mtot
phone directory. - r, , " ,
TELEPHONE & TELEGRAPH
THE NORFOLK er CAROLINA
Elizabeth City - Edenton Manteo
(9) Have a second line of air and
naval defense upon the foreign shores
of the Pacific and Atlantic Oceans,
both north and south, and the Medi
terranean Sea and Indian Ocean.
, '(10) Let Congress recover its con
stitutional authority over the begin
ning of wars. - t. -
It will be seen that the first nine
proposals, revolve upon a program to
avoid the necessity of training mil
lions of ground-forces, limiting our
preparation to air and naval strength,
with plenty of munitions, and limiting
participation in any war that starts
to the use of these forces. ' .
, Tne ' eighth recommendation " sug
gests that the .necessary manpower
may become available through recon
stitution of strong Japanese and Ger
man contingents. Even the ninth ar-
tide, . relating to the Mediterranean
Sea and Indian Ocean, as. a second
line of defense, is limited to air and
naval defense. .
The sixth proposal of Mr. Hoover
relates to economy in connection with
national expenditures to avoid eco
nomic disaster, .-. Not only - would his, ,
program save some of the money that .
will be used for the training of ground
(Continued on Page Five)
The Board of County Commissioners of Per
quimans County will meet as the Doard of Equal
ization and Review in the Court House on Mon
day, March 19, 1951; at 10 o'clock A. M., for the
purpose of hearing complaints and the ep!iz
stion of properly values, and said Board will ad
journ from day to day until this work is com
-J. W;. WARD
Clerk to the Board, Perquimans County
Hereford Motor Co,
HERTFORD, N. C.
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The "ln'" ami owV.bf yow fori an'bnOunt hbtory to us. H.itaijdi - 7
to reason Htai folks who servfc fords' Hay In bhd day our"!!! know ;,;, :
how to car for Fords battar Ihdn anyone else And, because our ' ' ,.
Wurls wrapped up In lha pleasure your Ford glvas yotf lotay, ;
, stands to reason that wj'B use pur many Pord service advantages to , ' ,
.' save you time and money. It certainly maices,sense mar no one eie tan aw
' thb as weH . . .because no one else can offer the 4-way benefits of oun ,..
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