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Published Every Friday Morning At SALISBURY, NORTH CAROLINA E. W. G. Huffman,_ Editor SUBSCRIPTION RATES Payable In Advance One Year _ $1.00 Three Years _ $2.00 Entered as second-class mail matter at the postoffice at Sal isbury, N. C., under the act of March 3, 1879. ———————————— The influence of weekly news papers on public opinion exceeds that of all other publications in the country.—Arthur Brisbane. FRIDAY, JUNE 23, 193 3 THE ESSENTIALS OF GREAT NESS We have oeen tninking about the men whom the world calls great, and wondering how many of them will be so regarded half a century from now'. In these days of wide spread and instant publicity, any man who does something spectacu lar and gets his picture into the newspapers is acclaimed by the un thinking as a great man. He may have done nothing more important than to go up in a sky-rocket or sit on a flagpole, but a foolish world does not discriminate between not oriety and greatness. We would hardly try to list the men of real greatness now alive, but we think there is a critical test which, if applied, would eliminate many who regard themselves as great men. We do not find many enshrined in history as great men who were not equipped with certain qualities of character, that had nothing to do w'ith the positions in w'hich chance or fate placed them. It is somewhat increasingly the fashion among the young to sneer at the old-fashioned "copy-book” maxims of conduct. But there >s only one sure foundation of charac ter that will stand the test of time, and that is adherence to those very principles. Honor, in tegrity, truthfulness, diligence, thrift, sobriety, modesty, may be cld-fashioned virtues but they are still the only rules of life which can lead to real greatness. It is a mistake to believe that the men who rise to the top in great affairs do so bv chicanery and dishonesty. It is one of the com monest of errors to think that a man achieves success without working harder and more faithful ly at w'hatever task he has in hand than do the lazy and envious a round him. And w'e have nevei seen a man whom we believed rc be on the path to greatness whe spent his money recklessly, whe wasted his energies in dissipati ■: or who sought self-advertisement The very' few' men of great af fairs who have been disclosed 11 these recent times as men of n< character are the glaring excep tions. If all leaders of busines and industry were crooks, then could, be no surprise at the dis closures of the offenses of a Kreug er or an Insull. Men like those when their true character is dis closed, get into the headlines be cause they are different from th general run. Nothing can be mor destructive to individual characte than to fall into the belief that i is useless to strive, since high plac can be won only by trickery. W feel that the failure of the senat investigation 'to disclose a singl act of dishonor on the part of th House of Morgan should go a Ion way toward offsetting the shoe of the disclosures of less honotabl conduct on the part of banker like Mitchell and Harriman. PRICE PARITY FOR FARMER "Parity,” or fair exchange valu of farm prices, is a situation ii which the prices of farm product will enable the farmer to buy 01 the average the same amount o goods and services with the sam amount of farm products that h could buy in the pre-war period The base period which is fixed b the Farm Act is in general tb ,re-war period August, 1909, to uly, 1914 (for tobacco, August, 919, to July, 1929.) Since that 1909-1914 period, arm prices were above "parity” or only two years during the World War. In the depression of 1920 farm prices dropped so much ower and quicker than prices of jther products that a 25% dis parity resulted. It has continued aver since, and in intensified form n the past three years. In order that farm products be on a parity with goods that farm ers buy, prices of farm products must be doubled even if the prices of other products do not rise. As prices of non-agricultural goods rise, farm prices must rise even more to come to a parity level. It is not the plan of the administra tors of the act to accomplish com - plete parity at once. A parity price is not necessarily i stable price at any particular lev d but merely bears a certain defin te relation to other prices. Parity letween farm products and things farmers buy can be maintained either on a high or low price level but farm prices tend to decline to ower points and more quickly han other prices in periods of de pression. Although farm prices were a bove the pre-war level during the period 1920 to 1930 a constant disparity continued. This dis parity was smallest in 1925, due to small crops. Then the ratio of prices-received to prices-paid by farmers was 92. A decline in farm prices then followed, making this ratio as low as 48 in February, 193 3, the lowest point on record, i The long continued disparity since 1920 has prevented farmers making repairs and replacerr*ents to such an extent that the condi-! tion of their buildings and machir. ery has seriously declined. Prices must continue for some time ac a parity level at least in order to make up for the losses of the post-| war years and to restore agricul ture to the same condition relative-1 ly that it held during the 5 years! 1910 to 1914. BANK FAILURES IN N. C. On June 30, 1928, there were I. ! in North Carolina 441 state ban' s land 77 national banks. The agg'v 1 gate resources of these 518 stile ' and national banks was $519,691, 000, according to the Report of the Comptroller of the Currency. On June 30, 1932, there were in North Carolino 216 state banks and 41 national banks. The aggre gate resources of these 257 banks : was $264,5 83,000. Thus on June 30, 1932, there were 261 fewer state and national banks open in North Carolina < than four years previously, and bank resources in operating banks had declined . 1 i' - tie more than 25 5 million dollars. What has been or will be salvaged i out of closed banks is not yet i known. During the five-year period from ; June 30, 1927, to June 30, 1932, : there were 170 state chartered ■ banks, and 33 national banks that - failed. There have been several , bank failures during the current fis ■ cal year, but just how many wt - do not know as yet. : The year ending June 30, 192S. : witnessed ten bank failures in the r state withy resources of slightly t 'ess than five million dollars. Eight ; were state banks. : The year ending June 30, 1929 ; (witnessed fpuirteen bank failures 'i with resources of five and a thirc 5 million dollars. Twelve were state ; banks. c In 1930 there were 17 bank fail ; ures with resources of nine and ; s half million dollars. Sixteen weri state banks. The year ending June 30, 1931 > was the banner year with ninety - two bank, failures. vSeventy-nine i of these were state banks. There i' s no report on resources bf these t closed banks, but they had on de f posit fifty-six and a third millior - dollars. 5 The year ending June 30, 1932 . -was runner-up with seventv-ont '^bank failures, fifty-five of whicl Jj were state banks. These banks ha on deposit nearly thirty-seven mil-' lion dollars. j Several banks that failed re opened later. During the year end ing June 30, 1931, there were twenty-nine state and three na tional banks to reopen. Resources in these banks totalled nearly twelve million dollars. During the year ending June 30, 1932, there were nine state and two national banks to reopen, with resources of three and a half million dollars. ! Although North Carolina has a large number of banks, mainly small banks, she does not rank high as a banking state. The re cord of bank failures for the state; means either that the state has been especially' hard hit by'the de-; pression or that excessive bank failures is chargeable to our bank^ officials. The pubiic is alre ty| rather well informed as to why) at least some banks in the state; have failed. In 1928 there were fifteen states! that had more bank failures than. North Carolina. In 1929 there' were ten states with more failures, j In 1930 there were twelve states with more failures. In 1931 there were only five states with more bank failures, and in 1932 there were ten states with more ba. k failures. It is very interesting to note that the New England Stt'--, with large bank resources per capita, have had remarkably few bank failures during the last five years. For instance, in 1931 there were ninety-one bank failures in North Carolina and only ten in all the New England States. In 193 2 there were seventy-one fail-i ures in North Carolina, and forty two in the New England States j It appears that the Middle-1 Western and Southern states have! been hardest hit by bank fa; uies.j Few states appear to ha- • suffered more from bank failures than North Carolina. —University News Letter ___ | j SOMETIMES IT’S pretty INTERESTING TO pick up 4 4 4 BITS OF conversation here 4 4 4 AND THERE, and so that’s 4 4 4 WHAT WE have done today. * + * THEY LIVE right here in 4 4 4 'SALISBURY, AND they are 4 4 4 | GRANDPARENTS. "YOU are 4 4 4 1 NOT AS gallant as you were , WHEN I was a gal,” said i * * SI GRANDMA TO Grandpa who *' * * * ! DID NOT get out of the * * # ■ CAR TO help her In. "Maybe * * * I NOT,” REPLIED Grandpa, » * * "BUT NEITHER are you as # th * BUOYANT AS you were * «■ !!■ WHEN I was a boy.” S- # Sr I THANK YOU. COMMENT WAR FORESEEN AS A RESULT OF OUR DIFFICULTIES , To The Editor: President Roosevelt surely is do ing wonderful things, but it is ob vious that before we can get back to "good times’’ and "happy days” lots of changes will have to take place. As yet we have not found the remedy for all the country’s ills. We will go on just hoping and waiting until there is some break— most certain to culminate in war. Taxes will be so high and numer ous—will fix the small man’s busi ness and there will prevail much -nisunder'tanding. Too long the money changers have ruled the country. War is the next alterna tive and sure as guns our present turmoil will take a turn. The country is leaning already toward, a mighty conflict. —T. J. W. _ i "WORLD CONDITIONS” To The Editor: These days', if the boss trims your pay, or if your guaranteed mart ca- ‘ ges look a bit wobbly, or if the furniture man hauls your six sticks back to where they came from— weil, don’t ask any fool questions. Just say to yourself—"World conditions.” That is what a banker, will tell you when you ask him: "What did you do with my mon-j ey?” Right now these two words, settle most any argument. '_v.j Borrowed Views NATIVE WIT (Pvtdio in The Concord Tribune.) When a little co.ored boy bree/. ed into a local drug store yesterday and asked for an "epileptic tooth brush,” the clerk without batting an eye provided a picphylactic. D1R-TY DIG (Old Hurrygraph in The Morgan-i ton News-Herald.) There are any number of people1 who can go the Paramount News! two better. They hear all; see ail;I know all; and tell all. ! ITEM Bishop Cannon blames everyth ng except lack of dry votes for the re-| suit in the 14 states which have! declared for repeal. —The Norfolk Ledger-Dispiach. | _ ! IS IT FUN TO KNOW ELEA? j Ella Moses of Bessemer City has! sued the Reynolds Tobacco com-i piny for $2,000 on account ofj having been made deathly sick by j a piece of tobacco, she having, by her own admission, on May 2, taken and chawed a chaw of same. Why, Ella! —The Greensboro News, \ NEAT Mr. Morgan reminded the Sena-j tors that private banking goes back! in its long history to the Middle! Ages. Well, as to that, Mr. Hitler. can claim the same for Jew-baiting. j —The Asheville Times.' _ ONE’S ENOUGH (Radio in The Concord Tribune.) ! A Concord lady was buying a birthday present for her husband in a local store yesterday. In the gent’s department she asked for a collar, size sixteen. The clerk quick ly found the appropriate box in which the collars were housed and inquired in mild surprise: "Only one, madam?” "Yes, certainly, only one. Do you hink I’m a bigamist?” UP-TO-DATE (Old Hurrygraph in The Morgan ton News-Herald.) The world will make a path to vour door, if you buy on credit, j \TOTE ON DIETETIES (T. B. Laney in Monroe Journal.)] In the beginning of the world war when the famous Bickett Bat-] rery formed itself and when they] were being ex-amined for foreign; service, John Stewart or Peggar, as he is known, was taking examina-' :ion. He was turned down on ac-1 count of his teeth. Peggar wanted o go. He really was anxious to go, j ind so he said in a loud voice, "I’m going over there to shoot ’em—| tot eat ’em!” NTEREST1NG, IF TRUE Georgia Governor, off to make a peech at a flagpole, left a guard tround the State Treasury. In’er sting to know that Georgia has a Treasury worth guarding. —The Raleigh Times. AQUARIUM The Kingfish, Crawfish, Jelly fish. And then there’s plain Hamil ton Fish. —The Winston-Salem- Journal. ■ - There are just as many oppor | tunities no was there ever were for I the right man to achieve independ ence by the use of his own talents j and not much else. Of course, he must have the talents and the v/ill ! to use them. ' That is what I think of in think I “Not What You’d Call Broke” 1 " ——-By Albert T. Reid r r _•' “■■■MM THE REAL FIGURES The U.S.RETAIL BUSINESS is 1, SOO,000,000. which is nearly 3 times the WORLD'S EXPORT BUSINESS of f12,125,000,000. Our SAVINGS BANK DEPOSITS are ^24,25o,000,000., ^ almost hal f greater than those of AU OTHER NATIONS COMBINED, of }\~],000,000,000 ng of my old friend, Cyrus H. K. Curtis, who died the other day ac S3. He started his business career wdth three cents, which ran up to oine cents the first day, buying and >elling newspapers in his native Portland, Maine. He died leaving in estate of many millions, owner of the Saturday Evening Post, Lad ies’ Home Journal and three dailv newspapers. Mr. Curtis prospered because he load the essential qualities of suc cess in himself. He was honest, in dustrious, modest, religious, quick witted, sober, generous and cheerful His life was a complete disproof of the notion many lazy folk hi chat men only get rich by robbing the poor. He gave the per.p’j t America more, in the shape of w'holesome good reading, than he ever took from them. * CONSTITUTIONS . . the spirit I confess to a lack of sympathy w'ith the idea that our nation or anyi nation must always be fettered by the dead hands of the past. I am whiling to admit that the Constitu-I cion of the United States is the, greatest charter of government ever set down on paper, but greater than; any written document is the spirit; of the people, and when that chang-j es it is time to change the docu-| ment or discord it. The best thing about the British; Constitution is that it is not writ-i ten. It includes all the fundamen tal law's that have been enacted since Magna Charta; the Act of Succession, the Bill of Rights and a few' other basic statutes that must not be violated, and that’s all. nrl l. - __ T 1 1U uv-Ot akaic wuoui.uuuu * know of is that of my own Com monwealth of Massachusetts. It sets down a few things which the' General Court may not do and says, in substance, that the Legislature can do anything else that may be necessary to be done. And the worst constitution I have ever read is that of Oklahoma, which tries to prescribe every detail of govern ment. i!- a * TEXAS . . .and foreign affairs Anybody who thinks the Ameri can people are not concerned about foreign affairs had better not say that too loud in Texas. Peter Moly neux, editor of the Texas Weekly, has been making Texans under stands that the prosperity of all of them depends directly on inter national trade. Few people think of Texas in connection with foreign affairs, but that big state ships more goods abroad than even New York. About 90 per cent of Texas cotton goes abroad, and a third of the popula tion is well off or poor, depending upon the foreign price ,of cotton. Texas oil is another big item in foreign trade. Peter Molyneux believes, and is getting other Texans to believe, chat we’ve got to compromise the war debts and reduce our tariffs if we want to continue selling our goods abroad. Europe can’t buy from us unless we buy from them, he says; and I think he’s just aboc.t right. * * * KING . . . speaks to world George the Fifth, the mc6t popu lar king England has had for more than a century, opened the World Economic Conference in London with a speech which was heard by radio around the world. Every na tion on the globe, 66 of them, was represented there. No monarch ever presided over such a truly world wide gathering. The conference was called by the League of Nations, supposedly the most democratic organization in the world. But the man who presi ded is the only authentic and pow erful emperor who remains upon a throne. One secret of George V’s popula rity is that he doesn’t act as if he were a monarch. He knows that he is King only so long as the English people want him to be. He is said to have intimated that the heir tc the throne, the Prince of Wales, stands a much better chance of be coming President of the British f t - public than King. * * * STOCKS . . . the flurry Anybody who thinks that specu lation in stocks can be stopped by law has another guess coming, There is no limit to the desire of human beings to gamble. Most of of the transactions on the Stock Exchange in normal times are or behalf of legitimate investors, whe have bought and paid for t'neii stocks and sell only when they c.u make a material profit by doing s: and not always then, if the divi dends continue. Investors buy intellingently and sell carefully. But the ordinary person who does not make a busi ness of looking after his money thinks he can beat the stock-market game while still carrying on his or dinary business. It can’t be done, and it is nobody’s fault but his own when he loses. Just now there’s a new wave of | speculation in the market, because ! investors are buying in order to protect their money against de preciation. But anybody who "plays: the market” on margin is simply foolish. WILKES COUNTY AROUSED Several hundred Wilkes county i citizens have organized to end a wave of violence, after Noah Brown, 33, farmer, was shot to_ death by- Rom Dancy, also a farm er, at Dancy’s home. Dancy sur rendered. It was the fifth homicide in the county within a month. A Laxative that costs only 1 or less a dose i NEXT TIME you need medicine to act on the bowels, try Thed ford’s Black-Draught. It brings quick relief and is priced within reach of all. Black-Draught is one of the least expensive laxa tives that you can find. A 25-cent package contains 25 or more doses, j Black-Draught is made of ap proved laxative plants, firmly ground so you take the medicine nto your system just as naturally is you get nourishment from the ood you eat. Refreshing relief from constipa .ion troubles for only a cent or ess a dose—that’s why thousands of men and women prefer Thed ford’s Black-Draught. Why Wait? Call us today and let us 1 RENOVATE YOUR OLD MATTRESS. , Every Job Guaranteed TAYLOR MATTRESS COMPANY | Phone 6 I *iuz HAULED OUTA BBt> LAST NIGHT ON AN EAIER6 ENCY CALL TO F/X A Bl - cvcle aw' a Pair of Roller skates... IIICBIBAIIf1Co(An IHoUKANutu SIGMON-CLARK COMPANY * REAL ESTATE - RENTALS - LOANS - INSURANCE 11* West Innes St. Salisbury, N. C Phonb 256 LOANS WITHOUT SECURITY $5.00 to $40.00 Quickly Loaned SALARIED PEOPLE NEEDING FIVE TO FORTY DOLLARS IN STRICT CONFIDENCE, WITHOUT SECURITY, EN DORSEMENT OR DELAY, AT LOWEST RATES AND EASY TERMS CO-OP FINANCE CO. 202 WACHOVIA BANK BLDG. SALISBURY, N. C.