..■■■■■. TODAY'S THOUGHT “The future destiny of the child is always the work of the mother.”— Napoleon. The any Times Subscription Price $1* in advane* * DEVOTED TO THE CIVIC, ECONOMIC AfND SOCIAL DEVELOPMENT OF ALLEGHANY COUNTY Volume 11. GALAX, VA. (Published for S^trta, N. C.) THURSDAY, JULY 30, 1936. 10 PAGES Number 62. rby Hugo 5. Sims, Special Washington Correspondent NATIONAL INCOME Every year the Department of Commerce makes public its es timates of the national income both produced and paid out. The income produced is the market value of commodities produced and services rendered, less the value of raw materials and equip ment expended in the process of production. The income paid out represents the total received by individuals for their economic services, whether for labor, man agement or capital. In 1932, the national income produced was $81,304,000,000, and that paid out was $78,632, 600,000. By 1932, the income produced dropped to $39,545,000, 000 and the income paid out was $48,362,000,000. Since 1929, in come paid out has exceeded in come produced, making it neces sary for business to dip into re serves to pay wages, dividends and interest. Gradually, however> there has been a tendency toward a balance, reflected in the figures for 1935 when the income pro duced was $52,959,000,000 and that paid out $53,587,000,000. I TOWNSEND CONVENTION The Townsend Convention at Cleveland was a colorful, emo tional aifair, with fervid speeches hy the leaders of the movement, assisted by such other leaders as the Rev. Charles E. Coughlin, of Detroit, and the Rev. Gerald Smith, present head of the late Huey P. Long’s “Share-the Wealth” movement. With about 4,500 voting delegates, staying in tourist camps, boarding houses and various hostelries, the conven tion was noted by an absence of smoking and an abstinence from liquor. The barge of oratory brought rousing demonstrations from the audience, which, at times, gave the glad hand to con flicting statements. For example. Father Coughlin, the Detroit priest, got a rousing reception as he ripped off his coat, vest and Roman collar and applied epithets of “liar and betrayer” to Presi dent Roosevelt. However, Gomer Smith, of Oklahoma, declared that President Roosevelt had saved the nation from Communism and also received enthusiastic cheers. The delegates at times were vigorous in demonstrating the statement that the movement should back William Lemke for the presidency and ,at other times were equally as enthusiastic in applauding the statement that the movement should let Third Par ties alone. Finally, the conven tion voted unanimously against endorsing any candidate but the announcement was made that Dr. Townsend, the Rev. Smith and Father Coughlin would speak for the Lemke candidacy. ABOUT LEGAL RESERVES Following a course that has been urged for many months by i certain hankers and economists, notably Winthrop W. Aldrich, chairman of the Chase National Bank, the Board of Governors of the Federal Reserve System raised the legal reserve requirements of member banks fifty per cent., thus eliminating some $1,450, 000,000 of excess reserves now estimated at $3,400,000,000. This action disregarded the advice of other bankers, notably S. Parker Gilbert, of J, P. Morgan and Com L pany, who insisted that there was no undue expansion of credit and to raise requirements at this time might jeopardise recovery. It was explained that the in flow from abroad in the past two and * half years of more than three billion dollars in gold had created enormous excess re serves and that the ae bonds presented by hundreds of thousands of the men and women who participated in the World War. "I also wish to express my appreciation for, the whole-heart ed cooperation' by the - veterans themselves, the veterans’ organi zations, labor unions, fraternal societies, service dubs, radio broadcasting stations, newspapers, magazines and the general public. This tremendous undertaking has been largely completed. The successful accomplishment of this gigantic task again demonstrates the efficiency, the unfailing loy alty and the devotion to duty of the entire postal personnel (Signed) JAMES A. FARLEY, Postmaster General” Rev. Howard G. Ford, new pas tor of the Sparta Baptist church, will preach Sunday night at eight o'clock in the church here. NEW BAPTIST PASTOR TO PREACH .SUNDAY NIGHT Ram Sale To Be Held Near Boone On Sat., Aug. 8 The sale of registered Hamp shire rams that is to be held at Henry Hardin’s bam, near Boone, at one o’clock, on August 8, of fers, it is said, an unusual oppor tunity for market lamb produc ers. 'It is generally recognized that in order to produce market topping lambs, much depends upon the kind of a stud ram used. The rams in this sale will, it is said, he from some of the best purebred flocks in Virginia. It is to be in the nature of a pro motion sale and the rams will be auctioned off to the highest bid ders, regardless of price. Every sheepman who needs a ram should avail himself of this chance to obtain a good purebred register ed ram that is a guaranteed breeder, it is pointed out. ERECTION OF SANDWICH. SOFT DRINK STAND BEGUN The erection of a stand to be used in selling sandwiches and soft drinks has been begun by Cleve Reeves on Main street between the Spartan theatre and the old store building belonging to Jay Hardin. TWO LARGE DISTILLERIES DESTROYED IN ALLEGHANY Federal investigators of the Al cohol Tax unit, working in Al leghany last week, destroyed twc large distilleries, one in the Sad dle Mountain community and on* in the Barrett section. Officers taking part in th* raids were Mr. Jones and Leonard Roup. Merchandise And Cash Stolen From Whitehead Store A store at Whitehead, belong ing to M. L. Richardson, was en tered and robbed last Sunday night. Cash, estimated at around $50.00. was taken from a game table and a small amount of merchandise, valued by the own er at around $15.00 also was stolen. The thief, or thieves, it is said, left valuable clues upon which officers are working in the hope of speedily apprehending the culprits. Roosevelt Ends Vacation Cruise On Canadian Isle Side Whiskers Missing As Chief Executive Goes Ashore 1 From Whaleboat. Resembles Late Father L’etang Island, New Bruns wick, July 28.—By going ashore on this pine-fringed Canadian island for a picnic with his moth er and wife and a group of friends, President Roosevelt end ed his 430-mile two-weeks va cation cruise, minus his facial disguise. Shortly afterward he reboarded the schooner Sewanna in L’Etang harbor and prepared to return to Carapobello Island, 12 miles to the south in Passamaquoddy bay either late tonight or tomorrow morning. Another picnic will be given on Campobello tomorrow. When he went ashore from a whaleboat in which he had ex plored several streams emptying into the bay in the morning,, the skipper president had divested himself of the side whiskers he had grown on his long cruise, in Nova Scotian and Maine waters as a surprise for his wife and mother. Both got a good laugh over the cheek adornment yesterday at Campobello—Mrs. Franklin D. Roosevelt at luncheon aboard the Sewanna and Mrs. Sara Delano Roosevelt just before dark when she also went aboard for a brief visit. The president’s purpose was to make himself resemble his late father, James Roosevelt. It was neatly done, according to mem bers of his party. Intra-Party Foes Of Roosevelt To Gather In Detroit Washington, July 28.—Includ ing three who joined ex-Govemor Alfred E. Smith, of New York, in the unavailing call upon the Philadelphia convention to re pudiate the new deal a group of anti-Roosevelt Democrats has been invited to confer in Detroit on Friday, August 7, about an active campaign to unseat the president. While Mr. Roosevelt was reach ing Campobello, New Brunswick, on the last leg of his vacation sail, the latest move against him in his own party became known Monday through its sponsor— Sterling E. Edmunds, a prominent lawyer and publisher of St. Louis, Mo. This development stood out among the relatively few of the day with a possible bearing on the political situation, i Ever since the party conven tions, there has been speculation about the precise attitude in the campaign of former Governor Smith and Democrats of like mind. Several have declared for the Republican ticket; but questions whether some of the others might confine themselves to speaking out their opposition to the ad ministration live gone unanswer ed. It was in the light of this situation that the Edmunds letter attracted special interest in po litical quarters. Reached at his summer home in northern Michi gan, he said the invitation went to “constitutional Democrats who are opposed to the present alien control of our party’s name and machinery, in northern states.” Six Governors In Joint Attack On Landons Address Executives Of Half A Dozen States Join In Broadcast Tues. Night. All Critical Of Talk VAGUENESS IS CHARGED Martin, Cochran, Horner, Herring, Earle And Green Governors Who Sptoike. Talk From Home States New York, July 28.—“Vague/* “indefinite” and “disappointing” were terms applied to Governor Alf M. Landon’s acceptance speech of Thursday night by six Demo cratic governors tonight, who spoke from their home states in a nation-wide broadcast sponsored by the Democratic National com mittee. Each of the governors analyzed a different section of the speech and gave what they said was the reaction in their states. Speaking from their home states in a nation-wide broadcast spon sored by the Democratic national committee, each of the governors analyzed a different section of the speech and gave what they said was the reaction in their states. Those who spoke were George H. Earle, of Pennsylvania, Theo dore F. Green, of Rhode Island, Henry Homer of Illinois, Charles H. Martin, of Oregon, Roy L. Cochran, of Nebraska, and Clyde L. Herring, of Iowa. Governor Earlei speaking from Philadelphia, said the people of Pennsylvania were “bitterly dis appointed” after hearing the speech because of its “vague, far reaching, indefinite generalities.” He declared that Governor Lan don’s nearest “approach to a declaration of policy on any is sue is his acceptance of the com pany union, the most powerful weapon against the rights of labor ever invented.” In Chicago, Governor Homer said; “The Middle West is frankly disappointed in that speech. He had been pictured to us by his sponsors as a ‘strong, silent man/ From such a man we naturally expected frank discussion of the issues. We found that he was indeed a ‘silent’ man, silent on the issues of the campaign and even more silent as to the poli cies he intended to carry out. He spoke at length on Lan don’s promise to restore govern ment “on a constitutional basis, “If the sponsoring of a meas ure later declared unconstitution al by the supreme court, is to be construed as enmity of the con stitution, neither Governor Lan don nor the party that he repre sents can be considered as sup porters of the constitution.’ Governor Green, speaking at Providence, said “the more defi nite” Landon became “the more confused he seemed.” ff “He steered shy of the tariff. Green said. “He made a wide detour around the utilities ques tion. He didn’t mention stock market regulation. He breathed never a word about hanking legis lation or a public works program, or specific labor legislation. “You and I have a stake in all (continued on page ten)