f AG3 TV?0- THE PERQUIMANS WEEKLY, HERTFORD, N.: V& FRIDAY MARCH 9, 1951. mSHINQTON. LOOKING AT Galley; ONE THE ARGUMENT OVER FISCAL jPOUCY - 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 Europe. I 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 institutions. 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 nitions. - (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 A.M.: -. Cultivators Cole Corn Planter - Middle Buster Peanut Planter ' Cotton Planter v Cart and Wheels Harrows v ; Disc Plows -Fertilizer Distributor Soybean Planter 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 MODEM STYLS Your telephone and! danifiM the of mar directory at your perfect comninmoo, in 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 COMPANY Elizabeth City - Edenton Manteo Hertford Sunbury controlled hordes." (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) W-4 MOT C U1 v Board Of And Meeting Of Equalization Review 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 pleted. 7 -J. W;. WARD Clerk to the Board, Perquimans County JASAAAAAAAAAAAAAAAAAAAAAAAA.lliMV)Vyyv ' - hi. 1M the gto out rce.r 1 .TV-mKWT'- iiir mi SlOf stt c::::a pint Hereford Motor Co, '" -if, HERTFORD, N. C. If- I'D' r ; : 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 ,.. i Mi fit X, f i v s f AAA . , A'"