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VOL. XXXIX. No. 4. 'THE TAX MENAGE A GROWING CRISIS By FRANCIS H. SISSON President American Bankers Association |AJO danger, economic or social, more seriously menaces our life, happl ness and prosperity than the rising tide of taxes which •3 threaten to enguli as. This Is not sim ply a problem of the depression, it has been develop ingformanyyears, growing more se rlous all the time. • , depression The merely brought it to a climax. Un less drastic steps / are takeu to re F. H, SISSON verse this trend the problem will not end with the depression, it will continue to weigh down and retaid progress for an indefinite period. In city, county, state and nation the orgy of spending has run on. It la estl mated that In the United States the total cost of all government Is nearly five times what It was before the World War. Many localities have been brought to the verge of bankruptcy by their expenditures, while many have saddled their citizens with a debt bur den that will darken their lives and hamper their progress for years to come. The total cost ot Federal, state and local government In the United States ia estimated at forty-six million dollars a day. Based on national Income In 1830, this represents about one-fifth the total Income ot our people, or about fllO tor every Individual In the na tion. Total taxes In 1931 are mated to have taken more than 22 per cent of the national Income. It la occa •ion for sarioua thought on the part of everyone when one day’* Income out of every four or five mutt be contributed to the maintenance of governmnt ma chinery. Raductiona Possible United States Government expendi tures were reduced one hundred and forty million dollars daring the first quarter of the current fiscal year. The recent action of bankers in calling a halt to unnecessary expenditures of New York City as prerequisite to loans will reduce the cost ot government in the country’s metropolis, which is sec ond in its expenditures to only the Federal Government. No state in the Union, in fact, no other government on this hemisphere, spends half as much as this one city. These savings In Federal and municipal costs are only the beginning of a movement needed throughout the country. If we are to be led out of depression Into pros perity. Unless the people can be made to realize that money for governmental expenditure can come only from their own pockets as taxpayers, casting de pressing effects on both Individual ef fort and general business, there te an Imminent threat that we may be forced to meet economic difficulties similar to those that have so seriously handi capped other countries. The question ia not primarily one ot merely paring government salaries or shaving budg ets, but rather ot curtailing govern ment activities for which we cannot afford to pay. The idea that money for these mount ing extravagances can be raised by fol lowing the slogan “Soak the Rich” is utterly fallacious, for such a policy Avill simply exterminate “the rich” and eliminate sources of rever ue. It is also important to realize that corporate business in this country is in no posi tion to withstand the effects of Indefl nlte advances in tax rates. Current earning reports reveal that fact be yond shadow of doubt. The tax base must be broadened, and It therefore seems likely that Congress will be called upon to reconelder the sales tax, at least as a temporary measure to help meet a critical condition in the nation's finance. •M4f You Figure If Out Colleges should teach their student* to “think without thinking,” believes Dr. Edgar Odell Lovett, president of the Rice Institute at Houston. Texas. He explains. “By thinking without thinking 1 mean, that towers of per ceiving, remembering and reasoning should be so trained to the will that those powers come promptly Into play with the efficiency and precision of a smooth-running machine.” His Poetry Popular A *ixte«n-year-old shoeiuaker-poet has recovered bis Job at Frosinoue, Italy, with liberty to write verse on the inside of women’s footwear. The hoy bad been discharged when his era ployers learned that women's shoes were going to the market with bits of sentimental poetry Inscribed on the inner leather. Customers convinced the employers that the poetry was making the footgear more popular. GIBSON RECORD Published to Furnish the People ot Glascock County a Weekly Newspaper ifnd as a Medium for the Advancement of the Public Good of the County. GIBSON, GA, WEDNESDAY, DECEMBER 7, 1932. Little Pen-o-grams December YOU IF Stt THEWS WWflfc GET YOUNG MtVTHlU–mi THft ft LION, BOOK > 932 < SW i IIS YOUVt GOTTA HOP IT AS JL V MW ttflUNS , TR» ONE PRETTY (/. J V Goon * /] l Hi/ i ft <r urg » i % rhi U 1 f nv> tV\ w HU gr <^“3v The inarming 1 – r ■'■v FAMOUS FOLKS COkNtfL. i-i 0 " r «o usT' =£5 A «W 6WKI s – k'T, --5 ! 1 ¥ fy? V g .. c ^ — IL WSHtt WHUCW. WHO 1TUEB Jgi™ TO START A MOttMtHT TO ABOLISH THE OLD CUSTOM OF Mf.KtNG MERRY THE CHRISTMAS HOLIDAYS / it's all over now! SCAT » HOW JFji J. ip L-JTiZ •> These Bluejacket f-Ir.va a Right to Be Proud ; i m. M 1c ■ ,_ Mm M – , iff \ •# as 1 A 1 ■ Hi II m > . i Kl mmm W j W\>–$ fjR a>rj| MHk y KM 7;r " -J** 91 Imm A mighty proud hunch of bluejackets are those aboard the scout cruiser Detroit, and equally proud Is Capt. Na than \V. Post, their skipper. Their ship has Just been awarded two of tlie highest trophies in the navy. One la the battle efficiency pennant, known to navy men as the mast ball. The other Is the gunnery trophy for ships of her class. In addition to these two honors the Detroit also holds the anti-aircraft trophy presented by the Daughters of the American Revolution. Odd—But TRUE ii| v’r TH* SHM4S tNGll\ND Vj 'dcUNG — Vi m YARG -—- – Si w r0 V 'a A % .v-;; V-"$ 1% x C V-- M’ o jBR " i I \\ mM ' 71 * Wt M AM l HAvE T 6 Hkfeb k ^yCLthH'. ID CAA 'Li* m / .,1 rg.-l m r -- /j «■ 0 kjsj t\\' \ tJ l i / 1 f UJ mm m \,(\ /m JlyjffiH fj.JJSW'WFWr ( - PouRto Through m v ?UUHIL WLL WHIRL TO THE Right,IN THE N0R.TRtft.t4 CLEDPKTRN ‘ HE8USEHERE LNb TOWkft-ft THE SOftft^Snt UFT in The ‘Southern HtNu^PHtae H1 l0 NO by RuSBING HER EOOT m\\ OIL hNO VT Off SUBSCRIPTION $1.00 PER YEAR Deposit ‘Guarantee’ Fails of Purpose LOS ANGELES.—While the Idea ot the guarantee ot bank deposits by some legally enforced plan seems to appeal to many people who give It casual thought, the fact Is that it has not only failed In every Instance In the eight states where the experi ment was tried, but actually produced unsound banking and increased the number of failures, it was declared by the recent convention of the American Baukera Association held here. “Guaranty ot bank deposits carries an Idea that naturally appeals to peo ple in general on casual consideration,'' the declaration said. "However, in principle it Is unsound and in practice it is unworkable. It has been tried in eight States and It has not only failed in every case, hut it has resulted in Increasing the number of bank fail ures. Taxing properly managed banks to make up losses ot failed banks is not only unfair and unreasonable, but it weakens the whole hanking struc ture. Again, guaranty of deposits places the Incompetent and reckless banker on an equal footing with the able and conservative banker, which encourages bad banking al the ex pense of sound hanking, VVe are there tore opposed to the passage of any law carrying a guaranty of bank de posits and believe that It is against the Interest ot the people of the Gutted 3tatea to develop any such system." Electricity From Jordan There Is no river so universally fa uiillar as the Jordan, It is a petty river, barely 100 miles In length, but It has always been of the deepest sig nificance In the history of both .Tnda ’wn and Christianity. Scientists say that the course of the River Jordan has been changed by nature many times during the ages. Today man Una •et himself to change the river bed once again and to harness the wul.ei* of the Jordan for his utilitarian pur* pose. The waters of the sacred river are now used to provide electricity for th* people of Palestine and Tritnsjor daida.—Palestine Letter In the Man Chester Guardian. Amateur Gold Panning The geological survey says (hat there is little opportunity at present for an inexperienced person to moke it living by panning gold. Placer oper ations are now conducted on a laiger scale and require a considerable amount of capital. Although It might be possible for an experienced pector to discover paying placer ground, provided he has ample capital to sustain him for considerable time, it is extremely unlikely that anyone without experience could hope for suc cess. Gold placers of greuter or less extent have been developed in nearly all regions In which veins currying free gold have been rained. Jewelry in History Jewelry haa been worn fur at least 100,000 years, according to discoveries of the archeologists. The paleolithic man, although he knew nothing of metals, or even of tilling the soil, actu ally mined decorative stones and pre sented them to the female of the spe cles. The Jewelry of a mere 74,000 years ago included fourteen varieties of semi-precious and decorative stones, soma of which have persisted in the fashions to our own day. COIT MEMORIAL ;3 V : s* i A ■sr\ 1 * V * I r , m ■ f -” Ipii! I j ; ;: !i r I - ftoj£ ■ ' i:. i i H-aI 1 m Sr *11! 3 ■'5V...' The Colt memorial nt San Fraud* co. In the memory of Lilly Colt, will be a thing of beauty and will rise to an elevation of 200 fuet from the j creat of historic Telegraph hllL I There will be a powerful search light to act a* a beacon to' the seafarer. FORD CAR DELIVERIES REPORTED BY MR. HOPSON Mr. E. D. Hopson, president of the Warren County Motpr Co., stated last week that for the fourth consecutive month since volume deliveries of the new Ford V-8 began, Ford led all competitors in September vu sales of passenger oars, com mercial cars and trucks. In these four months, Ford passenger car sales were 39.93 per cent greater than those of its nearest competitor, while Ford commercial sales were 27.40 per cent in excess of sales of that competitor. Ford’s total of passenger car sales for the four-month period was 150,831 units which com pared with 107,788 for its near est competitor, while Ford com mercial car and truck sales to talled 25,632 units as against 20,120 for that competitor. For the year to date, despite the fact that Ford was virtually out of the market for five of the nine months, Ford sales of all units, both passenger and com menciai totalled 203,5^0, as against 340,627 for its nearest competitor In September, Ford sales of all units totalled 32,440, or 33.5 per cent of all makes as compared with 26,965, or 27.8 per cent, for its nearest competitor. Total sales of all makes were 96,943. Ford passenger car sales in this month totalled 26,432 units, or 32.3 per cent for all makes, as against 21,659 or 26.4 per cent of all makes, for its nearest com petitor. Ford commercial car sales were 2,305 units, or 50 per cent of all makes, as against 1,861 units, or 40.4 per cent, for its nearest competitor, while Ford truck sales were 3,703 units, or 35.5 per cent, as against 3,445 units, or 33.0 per cent for its nearest competitor. ARMOUR FERTILIZER WORK# TO MOVE TO ATLANTA Atlanta, Ga., November 22 Special—Announcement has been made here by President John g. Sanford of Armour Fertilizer Works, that the general offices of the Armour Fertilizer Works will be moved from Chicago to Atlanta, Georgia, between now and the 1st of the year. The Armour Fertilizer Works is one of the largest fertilizer manufacturing concerns in the United States, operating from New England down the Atlantic Coast through the Middle West into Texas. This Company has twenty-five manufacturing plants located at various points in the United States, Cuba and Porto Rico. Most of the Armour Fertilizer Works executives are Southern men, and they iare very happy over the Company's decision to move South. All of them, with their families, will be brought to Atlanta, and clerical and stenographic help will be re cruited locally as required. SWIFT AND COMPANY BUYS 1,000 CHEVROLET'S Detroit, Mich., Nov. 21.—An of how great American business organizations are main taming their service at a high standard of efficiency despite general business conditions is shown in the purchase by Swift and Company of more than 1,000 new Chevrolet Six cars and for the twelve months period ending October 1st. These ChevroletS, delivery of were made throughout the are being used in every in the union at the various Swift branches and subsidiary companies to expedite delivery of the company’s numerous food products. At present there are approxi- 2,500 Chevrolets in the equipment of Swift and Company. ’ This ranks them as „„„ „ .r ._____. argeS t rat . . °P® ® r9 ,.°j Chevrolet fleets lti . the United States. _ _ Buy Georgia farm products.