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The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, June 11, 1943, FINAL EDITION, Image 10

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn78002169/1943-06-11/ed-1/seq-10/

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Babson Gives Explanation
Of Prosperity In Nation
By ROGER BABSON
BABSON PARK, Mass.—In a re
cent article, I brought out the
point that, under our capitalistic
system, the middleman is in the
best position t oweather the infla
tion storm. I also stated that the
farmers and wage workers might
be obliged in the end to be respon
sible for the greater portion of our
national debt. However, debt and
inflation are not the only troubles
we may have to face. The possi
bilities of a long war, of radical
changes in our social order and
other contingencies may ultimately
result in real trouble. If such
should come, how can we or our
children be protected.
The United States- is almost the
only nation in the world in which
securities representing c a P 1 J ^ 1
have not yet been confiscated. 1 do
not believe that I or my children
or my grandchildren will live to
see this happen here. I do believe1
that perhaps my great-grandchil
dren, if they are lucky or unlucky
enough to inherit anything from
me, may live in a time when they
must work in order to eat. In
other words, perhaps I should do
more for my present and ultimate
heirs by forcin them to work
than by leaving them rents to col
lect or coupons to cut.
I was brought up on a farm and
my work has brought me in close
touch with many farmers and their
nroblems. Furthermore, as an
economist, I recognize that land,
children and character are our
only real wealth. As in the case
of securities, however, the value
of land and children or the income
they may produce is subject to
change. The Astor family fortune
of many millions was derived from
New York City real estate. It is
illustrative of the growth possibil
ities characteristic of well-located
or productive land held through
several generations. Yet, while
this particular fortune was grow
ing, many land speculators, along
with security speculators, lost
lare sums.
Without some real work being
done, neither the owner of stocks
nor the owner of land make mon
ey in the long run. There is no
easy road to prosperity. For ex
ample, before buying any consid
erable pmount of a stock or a
bond issue, I take certain funda
mental steps. These consist of vis
iting the plant or officers of the
company whose securities interest
me. I meet the officers and de
termine whether the management
is capable, honest and progres
sive. I also try to obtain stock
holders’ lists to see who my future
associates in ownerhip will be.
Figures relative to earnings, div
idends and interest, production or
sales are early obtainable; but it
may take days and months of trav
el, interviewing and investigating
before the hidden values in any
investment situation may be un
coverea.
Likewise, the real value-of land
Dr other forms of real estate, such
as stores, office buildings, farms,
can be determined only after con
Ideration of location, soil analy
sis, weather records, population
should devote considerable time to
personal investigation before ex
changing one form of investment
[or another or before making any
Investment of consequence. I might
be in a position to make a large
Investment in farm land, but in
doing so I would be dependent
upon some one else to work the
land and even to supervise the
job. In other words, I would be
simply an absentee owner. This is
another rea. ,n why I have con
fined my in\ stments to securi
ties. But for the man who will
study land value?, who can get
Dut upon his property, roll up his
sleeves and go to work—then, and
only then, do I say, "Go back to
the land!’’ Of course, the owner
ship of other types of real prop
erty also requires personal atten
tion.
Certainly the last thing that will
be taken away from my children
or grandchildren will be their
homestead and their skill. Under
the communistic system Russia re
distributed her land in the form
of co-operative farms; but in that
country the situation was quite dif
ferent from anything that we have
experienced here. In Russia and
in Poland, too, the great bulk of
land was held by very large es
tates individuall owned or con
trolled. It may have been entirely
proper to have the use of such
land re-distributed among the peo
ple. Such a situation does not ex
ist here. Even if our national debt
reaches a point where confisca
tion of some securities might be
come necessary in order to re
duce it, the homestead of 40 acres
or less should not be disturbed.
Really, the men and women who
are trained for some real job may,
in the end, be the best off. Con
sider again the middlemen. They
care little whether the goods which
they sell are manufactured in the
United States or some foreign
land; they really pay little or no
taxes. I repeat that they are a
favored class under the capitalis
tic system. If, however, our capi
talistic system should ever break
down and the farmers and wage
workers get in control, these mid
dlemen might be subject to ter
rific persecution. Hence, for tem
porary benefits, be a middleman;
but for long-pull security be an
expert farmer, machinist, engineer
or chemist. And for that matter,
the professions, also, offer oppor
tunities.
The important thing is that our
children and grandchildren be
brought up to expect less rather
than more from their parents and
their grandparents, that they be
taught that real wealth can come
only through their ability to do
better than anyone else in their
community some honest, useful,
technical or professional work.
Improvements Planned
For Marine Barracks

NEW RIVER, June 10.— The
construction of new facilities at
Montford and Hadnot points of
Camp Lejeune has been approved
by Secretary of the Navy Frank
Knox, according to announce
ment by Representative G. A.
Barden.
Among the expenditures from
the $929,000 allotted for the pur
pose will be new facilities for 1,000
Negroes, four new barracks, mess
hall and galley, post exchange
and administrative buildings; al
terations of buildings for die wo
men’s reserve indoctrination
school, dispensaries at Montford
ans Hadnot points, and office
building, station cafeteria and mo
tor parking areas at the industrial
section of Hadnot point.
-v
WHITE MAY CUT VISION
Color may be distracting on cer
tain operations. Yet, all-white may
actually cut vision and thus im
pede production. Records show
that white walls have lowered vis
ibility as much as 25 per cent even
though footcandles at working lev
el have been increased 5 to 10
per cent. The reason is in the dif
ficulty of distinguishing between
dark materials on dark machines
or against dark floors where a
flood of light constricts the pupil
of the eye.
Away from home? Regardless of
where he is, nothing is more cheering'
than news from the folks he loves.
Sit down today—make it a regular'
duty—it’s one of the important
tilings you can do to help him.
In between times, write a few checks
lor War Savings Bonds—another
cure way to help speed Victory.
This message eenttibuted by
CENTURY
DISTILLING COMPANY
PEORIA, ILLINOIS
STIMSON DEFENDS
WAAC REPUTATION
Secretary Of War Denoun
ces Rumors Of Immor
tality In Ranks
WASHINGTON, June 10.— W —
The reputation of the Waacs was
upheld today by Secretary of War
Stimson, a delegation of church
leaders and two congresswomen.
“Sinister rumors aimed at de
stroying the reputation” of the
Waacs through charges of immor
ality “are absolutely and com
pletely false,” declared Secretary
Stimson.
The churchmen, who visited
WAAC training centers at D e s
Moines* Iowa, and Fort Ogle
thorpe, Ga., stated:
“We feel that parents concerned
about the moral and spiritual wel
fare of their daughters can be re
assured.”
Rep. Edith Nourse Rogers (R.
Mass.l, author of the bill that cre
ated the auxiliary, told the House
that ‘‘nothing would please Hitler
more” than efforts to discredit,
the service and American women
m general
"Loose talk concerning our wom
en in the armed services,” com
mented Rep. Mary T. Norton (D.
N. J.), “cannot be less than Nazi
inspired.”
Secretary Stimson, telling h i s
press conference that he referred
to “charges of immorality and
particularly to the allegation that
the War Department has agreed
to the issuance of contraceptives
and prophylactiic equipment to the
members of this corps,” declared:
“Anything which would interfere
with their recruiting or destroy
the reputation of the corps and,
by so doing, interfere with in
crease in the combat strength of
our army, would be of value to
the enemy. The repetition of any
unfounded rumor concerning this
corps lessens confidence in it and
is actually a aid to the enemy.”
Reflection on the Waacs, Stim
son emphasized, “is in essence a
reflection on the whole of Amer
ican womanhood; for these 65,000
women are a cross-section of the
womanhood of our nation.”
When they are maligned, wnen
vicious rumor destroys their repu
tations, the effects could reach into
the very front lines, injuring the
morale of the Army itself.
“I emphasize the fact,” he con
cluded, “that I have made a thor
ough investigation of all these ru
mors They are completely false.”
The clergymen reported:
“We found careful provision for
their (WAAC) housing, health and
recreation. Their program of train
ing includes education, profession
al, cultural and religious pursuits.
“The quiet dignity of it all was
most reassuring. A hopeful har
binger of the new world order Is
evidenced by the sacrificial con
tribution which American women
are making through the WAAC."
The churchmen said that from
information obtained through per
sonal interviews they believe the
experience the Waacs are getting
“will strengthen their womanly
character.”
“We wish to commend the offi
cers and the chaplains,” the
statement concluded, “for the high
Army Chief Back From
Walking up the steps to the entrance of the executive office at
the White House, Gen. George C. Marshall. U. S. Army chief of
staff, arrives with brief case in hand to report to President Roosevelt
on his trip to North Africa where he conferred with Prime Minister
Churchill and the Allied commanders. __
idealism and the moral and re
ligious sanctions which permeate
their entire program of basic train
ing.” _
There is one accidental death
for every five minutes in the year,
according to calculations of the
U. S. Census Bureau.
GEORGIA MILITARY
ACADEMY
SUMMER SCHOOL
JUNE 21. 1943, TO AUGUST 14. 1943
Offers R. O. T. C. instruction and all standard high
school courses and war courses.
Courses offered:
1. Preflight
(a) Meteorology
(b) Navigation
(c) Code
(d) Physics
(e) Mathematics
2. Military Sc.
3. English
4. History
5. Lat., Fr. and 8p.
6. Algebra
7. Geometry
8. Trigonometry
, 9. Chemistry_
Schedule:
6:30 Reveille
7:00 Breakfast
7:45 Inspection
8- 9 Drill
9- 1 Classes and
Study
1- S Dinner
2- 3 Military Sc.
3- 4 Make up work
4- 6 Athletics
6:30 Supper
7- 8 Recreation
8- 10 Supervised
Study
Charges*
$200 includes tui
t i o n, uniforms,
books, laundry,
haircutting, and
use of all school
equipment.
Grammar school for boys 8 to 12 who live and work In
separate buildings. For information write
G. M. A. SUMMER SCHOOL
COLLEGE PARK, GA.
si°" eon,eS!
“erever mv«
The Associated Press plans Its war reporting
for this and hundreds of newspapers as a
general plans a campaign—far in advance!
Months before the invasion of Africa, AP’s
Chief of Foreign Service, John Evans, strength
ened the staffs in London, Cairo, the Middle East.
Likewise, AP looked to its communications.
The result was AP flashed the first story from
the Second Front. It continued to provide read
ers of this newspaper with superior reporting
to the finish of the campaign in Africa.
Meantime, AP prepared for the invasion of
Europe. It is ready with a chain of American
staffed bureaus that virtually ring "Fortress
Europe"—London, with more than a score of
seasoned war reporters under AP Chief of
Bureau Robert Bunnelle; Algiers, with the crack
staff under Chief of Bureau Edward Kennedy
that covered the African campaign; Cairo, with
a staff equally experienced and assigned to the
Mediterranean and Near East; Bern, in the heart
of Europe; Madrid, Stockholm, Ankara, Moscow,
not to mention roving correspondents from
Iceland to Iran.
At home a corps of specially recruited experts
under the direction of AP Foreign News Editor,
Glenn Babb, is on hand to edit the news of
invasion. Many were AP foreign correspondents
in Tokyo, Berlin, Paris, London, Mad;id, Rome.
Thus AP and this newspaper are ready—at
home and abroad — wherever, whenever in
vasion comesl
Price Ceiling Information
Effective June 8, an OPA regula
tion established new ceiling prices,
on a dollar and cents basis, for
ice boxes, the district OPA of
fice advised Thursday.
All models are priced "by
states,” and in many instances, j
prevailing prices will be lowered.
Sales by ice companies, retail
establishments controlled by ice
companies, mail order houses, and
other retail concerns are covered
in the order.
Markups at retail will run ap
proximately the same as prices m
effect in March, 1942. Provisions
are made for sales on credit. Tags
must be attached -to the box, in
order that maxe, model, ice capac
ity, ceiling price, and selling price
will show plainly.
The War Production Board has
given permission for the manu
facture of 350,000 ice boxes, dur
ing the first half of 1943, for gen
eral and civilian use.
—-V
Two-thirds of the total area of
Geoigia is covered by forests, ac
cording to estimates.
HOSTELRY SOLD
DETROIT, June 10.—(VP)— A
representative of the Ford Motor
Co. said today that the White
Hart Inn at Salisbury, Conn.,
mentioned last week as included
in the estate of Edsel B. Ford,
late Pre!ident of the Forrt
any, had been sold tn °
terests some time nriP 1Vate '*
Ford’s death. Pnor to j{
--V___
Ostriches can run 50 to no
an hour for short digtan,.-PliIe>
MELTING ICE CAN’T KILL SPARKLE
IN DRINKS MADE WITH
CANADA DRY WATER
ITS "PIN-POINT CARBONATION" LASTS IONGERI
P.S. Its special formula makes any drink taste better.
■«*
It
Mttl!
!i«
H
^Jada ORt
in the
HOME FRONT ARMY PICKED
THESE VALUES FOR YOU....
Yearly, at about this time, the associates of your Penney store stage an
“Employees Days” event, competing to offer timely bargains in each
department Todjy . . . now . . . they have done it again and spread
the very best in each department for your selection. Wartime limita
tions considered, they have done an outstanding job . . . One you’ll
appreciate
Presented by
BILL
BINGHAM
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Rayon poplins,
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Boys’ Rayon Slacks _$3.98
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$2.98
Store clothes in this full length,
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Sport fabrics gay with multi
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■---— ,L
CRISP
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