Henderson daily dispatch., February 06, 1932, Page PAGE FOUR, Image 4

About Henderson daily dispatch. (Henderson, N.C.) 1914-1995

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PAGE FOUR
UfKOERSfIN Otliy DISPHCKi
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11-ViirT Daily Dispatch Is •
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so im (or republlcmUon All
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•Ch«rwis* ci edited In lb la paper. and
•lio the local news published herein.
All rickU o t publication of special
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HHCMmOJI MIICKI.
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at tbo printed label on your
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•ad NEW addiaaa
Pallas al Advertises Representatives
CBOST, LANIiII A horn
MR Park Avenue, New York City; 16
■ut wether Drive. Chicago; Walton
ialMlag. Atlanta; docurity building.
K. lAttJS.
■stored at tha post office in Hendar
a% N. C.. og second class mall matter
canist roe for* ch
>| M u.a>eniat.ia*M»wmna-r»ai>
A CONSTANT PRAYER;— With
hold. not thou thy tender mercies
from mg. O Lord: let thy loving kind
ness and thy truth continually pre
serve n\e —Psalm 40:11.
GREAT THINGS:—Fear the Lord, j
and serve him in truth: for consider
hop great things he hath done for
you. —1 Samuel 12:24.
WRONG WAY AROUND
Advocates in Congress of ths pro
posal to increase from $2,500 to SIO,OOO
the maximum amount of money one
Individual con deposit in the postal
savings bank are taking the wrong
way around a problem. The plan would
If adopted, open a wider avenue
through which banks coukl be drain
ed of their liquid funds. That would
be detrimental to the banks at a time
when they need all the support they
can get from depositors.
Government coffers, of course, are
the safest place in the world for funds,
but If money were thus tucked away
by tike wholesale, business would be
paralysed by the removal of credits
to which it is entitled. There are
many thousands of hanks all over this
country that are safe and sound, and
■bout which depositors need have not
the slightest fear. And It is decided
ly to the interest of the government
to encourage the building of- that
Strength.
t Instead of opening the way for ad
ditional withdrawals on the part of
panicky citizens, what the government
should be doing is guaranteeing bank
deposits, so that funds available would
be. kept In private financial institu
tions. For the government to raise the
limit of postal savings deposits would.
In effect t be almost equal to an invi
tation to pull money out of the banks
and hgng it to the post office.
What is imperatively needed is that
the banks be supported and the con
fidence of the public in them be as
•MXed by the government. Such a
fanove would briqg money out of hid
ing and put i,t where It ean be of serv
ice when called for, and would hasten
at a fast pace the recovery of the
country from the present economic
distress.
ROY SCOUT ANNIVERSARY
The Boy Scouts of America, which
celebrated its tweedy-second birth
day in Boy Scout Week, February 7-13
is a moment rather than an organi
sation, especially in that It aims to sup
pigment existing organizations such
as the home, church and school by
engaging the leisure energies of boys
In, outdoor games and activities of
cultural and practical values.
The aim of the Scout movement is
to inculcate character, which is es
sential to success i n fcfe, but being
Isrgely a matter of environment, is
generally left to chance, often with
deplorable results. The Scout move
ment endeavors to supply the required
environment of amMtton through
games and outdoor activities, which
lead a boy to become a better man. a
good citizen. From the first and
without wavering in its purpose, the
Boy Scouts of Amerioa has emphasiz
ed at every point those two objectives,
character building and citizenship
training.
The process of making real men out
of real boys by a real program that
works, has been described s« the es
sence of the Boy Scout plan. The Boy
Scouts of America is a part of a great
world organisation of youth now num
bering. with its loaders, more than
2,000 000 active members in 7$ coun
tries.
Scouting Is outdoor life, and so
health, strength, happiness apd prac-
tical education. By combining whole
some, attractive, outdoor activities
with the influence of the Scout oath
and law, the movement develop* char
acter.
It develops far in initiative and re
sourcefulness. It helps boys. It In
sures good 'citizenship. The Boy Soout
movement healthfully and sanely off
sets the disadvantages which civlLoa
tion has caused.
layoff
I ' ,lr JAHfiSASWUL
|
By Central Press
New York, Feb. 6 Marginalia of a
Manhattanite: Can it be true, or only
apparently so, that subway and “el”
riders don't read the front pages
Bof the papers as
they used to? . .
Os course, the
scare headlines
about war In the
east, are the
turned-in. neatly
folded gazatt es
held in the handß
of commuters, if
my Imagination isn't to blame for the
fancy . . . Or it may be the increas
ing pull of features . . . The possibi
lity of readers blandly retreating
from the roar of guns to the safety of
comics and columns should give the
ps> chologists something to research
upon . . . But bigtime psychologists
t ike taxis everywhere, I am told.
That idle query of mine, a few weeks
back, as to what has happened to
Brook Johns who once played his
mandolin in the Follies, has been ans
wered by a reader who says he's one
of the few vaudevillians who made
enough money to settle down on a
southern farm with the wife and kid
dies—and settle, more miraculously,
near the peak of his vogue.
Joe Zelli. the American who became
famous for his collegiate bar in Paris,
who came over here recently to pre
sde over a fancy night place aoon
raided a revenooers, sends a card to
announce the opening of another fancy
night place . . . His play, “Mr. Papa
vent.” has just chalked up its second
fViure to click.
The Cities Service building, in the
downtown district, seems to be the
<in» least quickly identified on photo
graphs of the skyscraper belt . . .
The superstition against thirteenth
floors is dying out, and as a result
mnst of the new buildings in process
of construction will include the tier
... I am told that wills made h y
people slightly cock-eyed are legal, if
‘hy “know what they're doing."
NOT GUILTY
A reader signing himself (or her
self) “Just Another Human," in a nice
epistle postmarked Berkeleyy. Cal.,
writes: “Do you wear a Windsor tie?"
I used to. but it got snagged so
of.en in my tyypewriter keys I had to
quit. A pity, because everyone on the
street was so filled with admiration
th*-y stopped to point. Whep the
hindsome neckpiece interfered with
business I presented it to Wallace
Ecrry.
POOR LITTLE RICH KIDS
Every time I see a child in the ele
• tor of an ornate and frigid apart
ment house I am reminded of the an
cient tear-jerker about the prince
made miserably by luxury, who en
viously watched the urchins at play in
he street. But youngsters in these
glittering towers of steel are far too
subdued and well-bred even for envy.
If they feel the emotion at all it
> must be for the apartment house dogs,
v. ho outnumber them ten to one, who
are allowed to do pretty much a9
hey please .and who go out to romp
every afternoon with jovial Irish ele
vator boys in stripes and brass but
‘ons. instead of with prim governesses.
LOP. SKIP AND JUMP
Young ment in the financial district
spend their evenings feverishly dis
cussing the posibilities of America go
ng off the gold standard . . . Curi
••.i.sly. those I have talked to seem to
in favor of the move . . . Foreign
u ses have brought abcut the revival
•if familiar war-time phenomenon:
rounds of applause whenever the flak
appears in a newsreel, or even in x
feature picture . . . The matter of
ceremonies in a popular night club is
a dwarf.
The papers have been filled here
recently with the fulmin&tions against
each other of rival columnists . . .
Most anglomaniairs consider Leslie
Banks the most characteristically
English acitor on the American stage
. . . It is rumored that he serves tea
to all guests arriving after ten o'clock
in the morning . . - Broadway at
reven o'clock of a Sunday morning is
s’.artlingly unreal: the buildings look
smaller unsupported by the crawling
swarm of humans, the street has a
suburban, carnival-lot aspect, and
might be an old print of fifty years
ago as it bathes in pale yellow light.
Walter B. Pitkin. Columbia Unlv,
nsvchologlst-writer. born at YpsHanti,
Mich., 54 year ago.
Wife Preservers
When shoes squeak
tn neetofoot oiL
HENDERSON. 'QJ, C.J USHY DISPATCH: SATURDAY, FEBRUARY 6,1932.
Bab son Most Optimistic
Over Business Prospects
Famous Economist Gives Four Reasons for Return Os
Proagsrifo, and for Farmers, Itfemufaqttirfti*. Ar<|
Merchants to Hung On an<4 Chw Ur
RY ROGER W. BABSON.
Copyright lip, Ptibjiohors Finan
cial Bureau.
Babeon Park, Fla., Fab, 6. A few
days ago, while climbing out of a
water-hole on horseback here at my
ranch, my horse slipped. As she rear
ed on her hind legs, she lost her b»l
--hpce and we both went over back
wards into the water. Unfortunately
I was caught with my left leg under
the mare. As a result, I am now in
a hospital with my foot and leg in a
plaster cast.
Comparing Ten Years.
While here I am thinking of the
great improvements within a decade.
l>n years ago there was no hospital
in this section of Florida. Today we
have a perfectly equipped and ex
cellently operated institution. Tne
years ago. I would have been brought
in from my ranch on a terrible sand
road for fifteen miles, while this week
I came in over a beautiful asphalt
road equal to anything in New York
City. Ten years ago, there were no
electric lights here, few telephones
and much poverty. Today—even in
this terrible depression—everyone is
better off.
The same condition applies in prac
tically all cities and towns in the
United States. Every community has
better schools, better roads, better
hospitals, better doctors, better stores,
better banks, and ne&rl yeverything
else better than befor the World War.
This article appears in over three
hundred papers with over 5,000,000
readets and I wonder If one person—
who has not speculated would
change his present condition to that
of ten years ago? Carefully think over
what you would be obliged to give
up if you turned back, the hands of
the clock ten years.
Debts Are Decreasing.
Os course, almost every commun
ity and family owes more now than
it did ten years ago. Without doubt
all owp too much. It was debts that
got not only Europe, but the United
States and moat families within this
■country, into trouble. Farm mort
gages, bank loans, and installment
purcases became so heavy that the
¥*mers back was broken. But—all
debts are less than they were two
years ago. Statistics show that mort
gages, bank loans, and installment
loans are rapidly being cut down. As
a result, there is today more actual
cash in the United States than ever
before.
The difficulty today is not with the
amount of money; but with the rate
that the money is circuating;— that
is, changing hands. One dollar in your
pockpt is of no use; but if that dol
lar can be in ten pockets in a week,
it can buy ten dollars worth of labor
or goods, or can pay up ten dollars
of debt. All these billions of Euro
pean dbts could easily be paid in full
with a little money if the nations
would only pass it around one to an
other. That’s the curse of tariff walls.
Why I Am Optimistic.
Notwithstanding my leg is in a plas
ter cast, I am very optimistic today.
Yes, I am as optimistic today as I
was pessimistic in 1928-1929. We will
soon get used to our troubles as I
am getting used to my plaster cast.
Then when we forget, we’ll let our
dollars go; which will create more
dollars and our prosperity will be
back. The trouble today is that we
have merely stopped climbing for a
while. We have lost no ground. Our
cities, farms, industrial companies,
railroads, stores, and wage workers
are far better off than ten years ago.
Only .hose who speculated have real
ly lost—the rest have simply tem
porarily lost their courage. Only don’t
get in debt next time. Be satisfied
with a little less speed.
When we study stock market prices,
we are surprised at what we find.
General Electric, tor instance, at to
day’s prices, is stilt double that for
which it was selling ten years ago
after allowing for stock dividends,
etc. General Motors, at today’s price,
is greatly in excess of the price of
ten years ago. The dividends paid by
alt companies the past month of Jan
uary were nearly 50 per cent greater
than alt the dividends paid during
January, 192T —only five years ago.
Almost all large corporations—with
the exception of the railroads—have
today greater cash resources and less
debt per dollar of assets. We are like
a man going up a forty story build
ing in an elevator which got caught
at the thirty-third story. We are
frightened—not because the elevator
has stopped, but because we are so
high.
Feur Reasons For Improvement.
There are four reasons why pros
perity will return and yhy sensible
Politicians Frown On
Prohibition As Issue
In Presidential Race
By CHAKJJSB P. STEWART
Central Prw» Staff Writer
Washington, Feb. 6. —Prohibition
will not be an issue in the coming
presidential campaign, ir a majority
of the professional politicians on
both sides can prevent it.
Influential Republican drys as well
as influential Republican wets were
terribly provoked recently by the at
tempt of Chairman Simeon D. Fess
of the Republican national commit
tee to emphasize the Republican
party's aridity. They desire the sub
ject ignored as completely as pos
sible.
The real basis of the bitterness of
a large Democratic element toward
the., management of the. SoithEfaf-
farmers, manufacturers, and mer
chants should hang- on and ch*et>up.
These are aa follows:
(1) During the early part of a busi
ness depression people think It is on
ly temporary and avoid changing
their habits of living and methods of
business. Pride prevents the correct
ing of the mistakes which caused the
bursting of the prosperity era. Grad
ually, however, as the depression oqn
tinues, people are forced to get down
to hard pan by substituting honesty
for dishonesty—efficiency for inef
ficiency, and real desire to be of
more use instead of getting something
for nothing. With this change in
spirit, prosperity is bound to follow.
<2) As loptimiism and self-con-*
fidence were overdeveloped during a
period of prosperity, so pessimism
and fear likewise over-developed dur
ing a period of depression. This
means that everyone arries curtail
ment too far until finally there is an
atual shortage of goods. Stoks of
merchandise are very low today;
mills and factories are shut down;
while a very little buying would re
sult in increased prices and many or
ders sent to mills. This would result
in more employment and consequent
ly stimulate retail purchasing still
further. Good times would then soon
return.
(3) Business depressions always re
sult in developing new uses of pre
sent products and in discovering new
products. When the price of a com
modity declines, the field for its use
is greatly increased. More uses are
available for products when prices
are low and conditions depressed. Be
sides new disoveries ertainly are be
ing made whih develop new indus
tries and result In more employment.
These changes bring back prosperity
and greatly help the banking situa
tion .
(4) As the money piles up during
every period of depression, this idle
money finally seeks investment. Peo
ple will allow their money to remain
idle only about so long. Idle money
eventually “burns a hole in one’s
pocket." Banks must loan money in
order to pay dividends. Before long,
the billions of idle money will be in
vested or loaned for building, for im
provement, and for the resumption of
normal business. The use of these
funds, which are now idle will—with
the other three factors above men
tioned—bring back prosperity to, the
United States, irrespective of what
happens in Europe, Asia, or Africa.
The truth, however, is that these
same four forces are at work for
better conditions in Europe as well as
here.
Don’t Walt Too Long.
I am not preaching any Polly-Anna
stuff. If you have not repented of
your sins and turned over a new leaf
03 to habits and business methods,
then you should do so. If, however,
you have got down to hard pan and
if your wife and children are help
ing you as they should, then you have
nothing to fear. Times are still good
compared with ten years ago. Times
are bound to be better. The elevator
has temporarily stopped; but there is
no need for being frightened. It will
soon start upward again. Therefore,
stay in. Don’t be efoolish and jump
out to ground.
One thing more: I should think you
might have learned a lesson not to
be swayed again by Wall Street senti
ment. Follow fundamental business
conditions as shown by the B&bson
chart—not the whims of Wall Street.
Julian Sherrod is right in much that
he says in his book "Scapegoats,” but
he is three years too late. It is just
us foolish to follow Wall Street now
and sell as it was to follow Wall
Street in 1929 and buy.
Conclusion.
The fear which develops during a
business depression is just as unrea
i sonable and dangerous as the over
confidence which develops during &
boom. This means that thef •bearish
attitude today is just as crazy as the
bullish attitude of early 1929. Some
day we will look back upon the low
prices of 1932 as we today look back
on the high prices of 1929. Then you
will be just as sorry you did not buy
in 1932 as you are now sorry you
did not sell early In 1929. Furthermore
you can today perform as distinct a
service by buying as you could have
by selling before things got out of
bounds three years ago. Yes, I am
optimistic. Perhaps this is because I
am on my back in th hospital where
there is only one way to 100k —name-
ly. upwrads.
Business by the Babsonhart now re
gisters 31 per cent below normal com
pared with 21 per cent below normal
a year ago.
kob coterie is the persistent endeavor
to commit the organization to a po
licy of humidity. Many Democratic
wets agree with the drys that the
question would be much better dis
regarded altogether.
Tariff experts, alike Democratic
and Republican, agree that the pro
blem of customs imposts is utterly
unsuitable for partisan consideration.
The federal tariff commission was
created, indeed, with a view to get-
J n * the whole proposition out of po
litics, for future study from a purely
unbiased scientific standpoint The
commission itself very quickly be
came a political body, but it was not
intended to be. Politicians still would,
uke to get rid of it as, a, topic for
“Jius Around Tl|e Corpw”
■ i ■ i "
campaign wrangling.
The power issue is another issue
which the dominant groups in both
parties are growing very tired of.
They concur that it is not an issue
for elections to hinge on.
Public men realize that, if the gen
eral price trend continuse downward
as it did, in spite of everything, for
30 years after the war of secession,
free, silver probably will develop soon
into a formidable issue.
This also is an issue which they
are eager to keep out of partisan po
litics.
Republicans recall that it was an
issue which caused a G. O. P. na
tional convention bolt in 1896; Demo
crats that it resulted, in, putting the
Palmer and Buckner gold Democra
tic ticket into the field in opposition
to W. J. Bryan in the same year.
Neither Republican nor Democra
tic leaders fancy the idea of a similar
state of confusion say in 1936—which
they are quite far-sighted enough to
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i
I £™ C J£ *** 6 Coarse grasses 22 Force, power @0
6 Double quartet s Acts 25 Scorns
12 Coupled 7 P ° Ur ffraJ, “ 57 Short P«»Jectlnt
} * 8 Man's nickname parts
IS s£?u * SSES""* ” Extrwn. pun.
ptac. "> ™ d ‘ n U', "** :? 2°“ Vtln
20 Sect estate (pi.) 42 Mean proportion
21 Cataract 11 Shrub of the Jun‘P*r 42 Cylindrical an<i
22 Incinerat* kind (A. S.) smooth
24 lITSI n..n* 11 44 Expunge
25 * PUat 14 A succe ** or *0 47 Herbs with dressing
27 Rested Mohammed 61 Upright
28 Vassal 18 A charger 52 Part of a mortise
ao RunnuMtn 13 The tentmaker 55 Surmount
it ?umed £ck 23 A pUnt 57 Poet
24 Warn “ k 21 Football teama 59 Clumsy boat
28 Hindu god 28 Ovens 81 Japanese statesman
27 Binder Answer to Previews Punts
*1 Composed '
IS Pronominal adjee- IWlQlßfCh^BSJfhl Ift |r\f"H
tlve > lk"ti
18 Theirs (Fr.) " •
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53 Age mMMBIi [HjRI | iTIAITiBISB
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58 Plunder feu :fehrMcSr~fe^m^^^4s4r*l^l^s|
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18 Descendants of ,L Ji |
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88 Quicken | c |
62 Allure IT JI J| li> [r^lfeiPM
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down lu ijJ/k üßu jL I' i ,11U
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toe of • g|D JV
look forward to.
Consequently, taking time by the
forelock, they already are preaching
the doctrine that, under no circum
stances, should free silver be regard
ed as & political question but simply
as a question of economics, to be
settled by currency specialists; not
by the voters.
And now, according to Newton D.
Baker, it appears that the question
of American entrance into the Lea
gue of Nations is not political either.
While “I think," says the former
war secretary, "that we will go into
the league some day," and “that we
ought t0,”...."it would be a great
mistake,” he adds, “to make a par
tisan issue of the matter."
Curiously, politicians who have
been arguing all along that there is
nothing properly partisan at all about
the tariff, power, free
silver and other issues which do seem
so to ordinary folk, evidently are sur-
by this utterance of ex-Sec
retary Baker’s.
TODAY
TODAY’S ANNIVERSARIES.
1626—Madame de Sevigue. famou
French letter-writer, born. Dim
April 17) 1696.
175$ —Aaron Burr, noted Revolution
ary soldier, famous lawyer. I
S. Senator and 3rd Vice Pres
dent, a tragic figure in histgry
born at Newark, N. J. Died «i
Staten Island, N. Y., Sept, n
1838.
IGS2—John. B. Gordon, Confederate
general, U. S. Senator. Georpti
governor, bora in Upson Cu.
Ga. Died Jan. 9,19 CM.
IL33—James E. B. Stuart, noted Cun
/ federate cavalry leader, bom u
a trick Co., Va. Died at Rid
mond, Va., from battle-woundi
Hay 12, 1864.
IG68 —George A. Dorsey, the noted u
thropologist whose book bn-aot
a best-seller, born at Hebrew
Ohio. Died in New York, hard
30, 1931.
*
TODAY IN HISTORY.
1788 —Massachusetts ratified the C.w-
Btitution.
1904 —Russo-Japanese War began.
1922—Achilla Ratti elected Pope P«s
XL
TODAY’S BIRTHDAYS.
U. S. Senator Robert M. Lafoltou
Jr., of Wisconsin, born at Madisoc.
Wia., 37 years ago.
Mrs. Anna C. Tiilingha-st, t-. 5
Commissioner of Immigration at P«a
ton, born at Cicero, N. Y.. yrati
ago.
Oscar Wells, noted Birininghait
Ala., banker, born in Platte Co., Mu
57 years ago.
TODAY’S HOROSCOPE
With a proper training this day wiii
turn out a powerful nature. If ti*
mind should become perverted, how
ever, the impulses will turn to «•
tretpe vicious ness. Certain plantetary
aspects may entirely change the ef
fects, and incline the person to be
come Indolent and self-indulgent. Par
ents should endeavor to direct the
child's into proper channel*,
until it becomes able to chose for > !>
self.
SEABOARD aF
LINE RAILWAY
TRAINS LEAVE IIENDtKSON A»
FOLLOWS
NORTHBOUND
Haw
198—8:33 A. M. for Ki<h»* n4 ,
Washington, New Yo*», cosn*e‘
lag at Norlina with No. 16 ■' T “
Ing Portsmouth-Niirfnlk J?-*® **•
M. with parlor-dining rar -crtler'
4—2:52 I*. M. fur
Wsahiogtun, New York.
192—9:88 I*. Si. for lti'l""‘ ~,d
Washington and New '
9—2:28 A. M. far Portamooio-I**'
Mk. Washington. Ne« Tit-
SOUTHBOUND
Nn.
191—3(42 1 M. POT Bom»*b.
Sen vine, Miami. T»mpa. w r '
tenburg.
8— I*. M. for ILttl. it;**.
Hamlet, Columbia, Sowum*. ■
miaul, Tampa. SL Prtcrsbsif
187— 7:55 F. M. For KalH|»»
Savannah,
Tampa, SL Potersbaif. AUM “
9 L M. P« AUanU. W*
rngham, llcasphto.
For bslarmaUoa coil tm R - «■
ante. DPA RaMfh. N- C.. « *
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