Newspaper Page Text
Camming, Georgia.
KERMAN ’mMkm f
Reports From
WASHINGTON
THIS COUNTRY’S financial
chickens have begun to come
home to roost.
f As the re-
W JSHRh "1 suit of our fis
\ | cal follies of
W jm*. 1 the past 15
years, the
Si.iJk*. ' once-prized
American dol
gflP|nk| lar is now sell
■H ja ing at a dis-
MJHIy . Wsmk count on the
money markets of the world and
the gold supply of the United
States has dropped to a 20-year
low of $20.5 billion. According to
figures compiled by U. S. News
and World Report, our gold re
serve has shrunk by $2.3 billion
since 1950 while foreign claims
against it have increased by $8
billion. Foreign governments,
banks and citizens presently hold
$14.9 billion in American dollars
and that total is expected to rise
to more than sl9 billion before
the end of this year. Last year
alone this country ran up a net
deficit of $3.4 billion in its various
foreign transactions and there is
little prospect under present poli
cies for any reversal of this de
pletion trend within the fore
seeable future.
• * •
HOW HAS THIS happened and
what doe ii. mean?
It has happened because the
United States has spent some S7O
billion in foreign aid since the
end of World War II building up
the economies of other nations -t.
the expense of its own. It has on
the one hand subsidized the mod
ernization and expansion of for
eign industrial capacity while on
the other hand its currency has
been devaluated and its goods
priced out of the world markets
through the resulting deficit
spending and inflationary wage
price spiral at home. Conse
(not prepared, or printed at government expense)
cy Cn/A/OF/> 3ez BYL.B.MUNM&EDHIN mvirr
NO WOMAN LJtLL UI£AR
A HAT OR DRESS *
IDENTICAL TO ANOTHER
woman's BUT ALL.
RULES ARE OFF WHEN
RCOME IN' AND LET US SOW
YOU THE MANY ITEMS THAT
WE HAVE TO MAKE YOl'R OLD
cak and new one look SO
MUCH BETTER YES WE CAN
DO WHAT WE SAY AT REASON
ABLE PRICES.
tit jnn '
Cuwi*gS>LESc<Mm
OUTBOARD MOTORS & BOATS
PHONES: TU. 7—5211—5212 CUMMING, GEORGIA
Special Notice
SEPTIC TANKS CLEANED
OUT AND HAULED OFF
AT REASONABLE PRICE
WE HAVE SPECIAL EQUIPMENT
TO DO THE JOB FOR YOU
WE TAKE OUR TRUCK AND TANK TO
YOUR TANK, PUMP YOUR TANK EMPTY
AND KEEP YOUR PREMISES CLEAN WITH
SPECIAL EQUIPMENT FOR THIS JOB.
Bradford Samples
Ph. TU 7-2238 : Cumming, Ga.
quently, those countries we have
helped are underselling our prod
ucts not only throughout the rest
of the world but also right here
at home. Thus, more dollars are
being channeled outside the
United States each year than are
coming into it.
This means that if all foreign
holders of American dollars si
multaneously should demand the
redemption of that outstanding
currency in gold—which, at least
theoretically, they could do—the
United States would find itself
in the impossible position of hav
ing far less than the sl2 billion
in gold required by law as a mini
mum reserve to back its domestic
currency and bank deposits.
Should such a “run” on American
gold ever occur, it unquestionably
would touch off a catastrophic
financial panic.
• • •
FORTUNATELY, there is little
likelihood of such an extreme
eventuality under present circum
stances, but the fact that even the
possibility of it exists should
serve as a warning signal for the
United States to get busy setting
its financial house in order.
It is essential to the future
security and prosperity of the
United States that the value of
the dollar be bolstered and world
faith restored in it as a sound and
stable currency. Those ends can
be accomplished only through
firm and immediate steps to check
inflation, to restore reason to fed
eral taxing and spending policies,
to regain a favorable balance of
world trade, to cease foreign give
aways and to insist that the allies
we have so generously assisted
now assist us in sharing the cost
of manning the defenses of the
Free World.
The Forsyth County New*
Allstate takes
the red tape and
high cost out of
auto insurance
How much can you
save? Call today.
Rev. John D. Glover
Ph: Tu. 7-7752
Rt. 5, Cumming
You’re In good hands with
Allstate
Insurance i
HOMI OMiCI SKOKlfc. U. £
FOR SALE—I Double barrel Stev
ens shotgun, 12 gauge; 1 new
3-shot bolt action 16-gauge shotgun:
I Pear handle 38 S. & W. Pistol;
II Beagle puppies, thoroughbred,
fast running kind, See them. ALSO
Fresh Honey. Want to buy 16-
gauge Browning Automatic — E. G.
ECHOLS, Rt. 4, Cumming, Ga.,
Phone Tu. 7—2629.
FOR SERVICE—Nice Young Re
gistered Bull. $3.00 Fee. Contact
LON LITTLE, Route 4, Cumming,
Georgia—7—9—s9.
FOR SALE— 90 Acres, 3 miles
from Matt on Mt. Tabor Road, 3-
room house, 2-chicken houses
equipped. 100,000 foot of timber —
H. C. Moore, Ph: Tu. 7 —6571.
: NON-DRINKERS
Buy The Best \ ;
: AUTO INSURANCE :
for Less y' :
: (jhfcmxl Mutual™*™^ ;
TAL E Y
INSURANCE AGENCY
Phs. Tu. 7—5164 —5539 Box 155
Georgia
FOR SALE—Land Race from Prize
winning Stock Breeding Boars and
Gilts, Registered in buyer’s name—
Rupert or Everett Harris, Route 4,
Ph: Tu. 7—6813, Cumming, Ga.
HOUSES FOR RENT—One 5-room
house. Two 1-room houses, in good
neighborhood Contact Roy P.
Otwell or John McClure at Otwell
Motor Company, Phone Tu. 7 —2311
WANTED —“Want to buy or lease
with option to buy, medium to
large acreage suitable for genera!
farming”.—A. FARMER, P. O. Box
4824, Atlanta 3, Georgia.
MILUM ELECTRIC
COMPANY
Win. 11. “Bill" MILUM, Owner
Ph: TU. 7-5764
One mile from Coal Mountain on
Brown Bridge Road Guaranteed
Service on TV. All electric appli
anees Refrigeration—Air Con
ditioners —Lawn Mowers —Oil Car
buretors.
“SERVICE IS OUR BUSINESS—
OUR ONLY BUSINESS”
WELL
DRILLING
FOWLER WELL &
SUPPLY
Canton, Georgia
PHONE GR. 9-4504
COLLECT
FOR RENT-—Two, Three and Four
rooms. Private Apartments. Phone
Tu. 7 —slo7—Mountain View Apart
ments, Cumming, Georgia.
FOR SALE—4O Acres of land near
H. C. Major Store on State Route
141—For information call Frank
Wallace Ph. 3859 Buford, Ga.
Colleges cautioned on accepting
aid from U. S.
Creep feeding may be done by
constructing a small pen in the
pasture with a gate or opening
just large enough for calves to
enter but too small for cows, says
Ralph Williams, animal husband
man, Agricultural Extension Ser
vice.
Georgia farmers are losing thou
sands of dollars annually by using
low analysis fertilizers, declares
agronomists, Agricultural Exten
sion Service.
Dillon urges investment in back
ward countries.
MJf UPTONS *SOOOO
Make An Xi Contest
W K FULL DETAILS ON ENTRY CLANK
“lipton
, dt DISPLAY
FFFFFFFFFFFFFFFFFF
0i UPTONwib* “* TON 48 i
® TE£ 43 / W dags c ““ n ‘
* T 65/-
r * r)M
of Contentment Values
PARSONS
48 f 43* 1 Flowery Branch, Cumming
65/ -- Duluth and Norcross
* m
m x mm
a ly
doesn't mob Jr f 1
a Winning Team 1
■
1 . 1
And the Rural Electric System which brought low- f*
cost electric power to the rural areas wasn't built by '
any "one player" either! . . . >;
... it was built as the result of cooperation . . . 3
teamwork ... a lot of folks working together to
help themselves.
If our rural areas are to keep pace with t.ie progress
of our state, it is vital that they be served with de
pendable, economical electric power ... it is vital
that the Rural Electrics remain strong to fullfill the k
great purpose for which they were organized ....
* ~ ' ' 4f n, - 1
Cooperation is the key . . . Progress and a better ;
standard of living for all is the key! 4
* _
SAW N E E
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j§^\^£££vffuv*coßPOßftTionlT.
!• COMMUNITY OWNED • COMMUNITY BUILT • COMMUNITY BUILDER,
Little men seek little honors from other little
men.
If you want to live a long time, get the philo
sophy that enables you to avoid worry.
Smart advertising can make any successful
business more successful.
Life should not be all work. Everybody es
entitled to recreation and amusement, whether
everybody gets it or not.
Thursday, July 16, 1959,