Below is the OCR text representation for this newspapers page.

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 vlpv rtm'Off* memBCRSHiP 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,