PAGE FOUR

THE DAILY REFLECTOR, GREENVILLE, N. C

Monday, May 22, 1961

The Kittens

Monday, May 22; 1961

Important Avenue Of Development

Legislation which municipalities to band to planningy.and development commissions portant^venue for enhancing the overall economic

half dozeii or a dozen cotmties may find it helpful to

devdopir.ent effort -Kch is "LVu^hout help coordinate w^r^l^indivIduirSes mTco^

throughout hejp co^ development problem.

North Carolina. k nf jst as state-wide efforts toward solving Nori

For several years there have been oi general economic and development prob-

this sort of thing all over North Carolina by those ^'ho heen helpful to communities and counties

recognize the value of area-wide as well as county ^he state, so could multi-county and multi-

and community effort toward economic development. undertakings of this nature be helpful to

During GOV. Hodges dministraon, loose^^^^^^^^ us a^aTfn th^ state. ,

groups were formed in several sections of *be state ^ proposed legislation which would permit

to approach economic problems from re* wlrts "counties and communities to band together in forming

point. For the mo.st part. economic planning and development groups should be

sputtered for several months and then died av^ay. bv the General Assembly and utilized through-

The current legislation sponsored by Gov. San- I','.. ford and introduced by Sen. Dallas Alford of N^sh Comity offers a better approach to the problem of

area development. It provides for area organizations T QW Qln t^OLHlG-rIXlIly of greater stability, more continuity of effort and a ^ _

consitirably broader sens pe of operations. ^ fn/101*0 A/4

Area planning and area-wide solutions to prob- qUOUIQ JDC JLillUOrDESU -

lems which are common to a number of counties in

the same geographic region would be a considerable House approval of the proposed law setting

helo to the efforts now being put forth by individual tougher penalties for both galfblers and players incounties and communities. In many instances two or volved in fixing athletic contests should receive en-

o Knowledge

Without Travel

By LYNN NISBET (ExeenHs from talk to N.O.** Metal AasociatioD) TRAVELMost people think tS travel as being either for business or ior pleasure. Commcnly accepted daasification puts all travel trips to one of these catc-gortes. with admitted overlapping combinations. Not many bustoes* trips are entirely devoid of pleasure, and nearly all plea^ ure jauDts yield econwnic di\> dends. ^ .

A tblrtl and perhaps most significant factor in the total value of travt to aeldom recognized. That is the fact that travel to the basis of nearly all knowledge. the chief handmaiden of education.

The urge to learn by traveling to Instinctive in the human breast. It finds first expression in the desire of the baby to crawl off bto mothers Up to see what to on the other side of the room. The same urge inspired all the great explorers to venture into unknown areas. The baby crawling across the room. Columbus challenging the unchartered oceans, and Alan Shepard venturing into outer space had common Inspiration the overpowering urge to go places and leam something new.

It to_ exactly this same motive that converts the staid busine-ss or professional man into an adventurous explorer when he leaves hto desk to seek out a new golf course or fishing place;

iftT - A- is4g4t hiatArifi . and .

V 101* UJOkWgTw WWW-

re-live the experiences of the men who fought at Fort Fisher and Bcnlonville and Gettysburg, or built old . Brunswicktown and penetrated the wilderness at Mount Mitchell.

Without travel there would be AO knowledge of things beyond the home or the officeand even between home and office there must be travel, with new knowledge gained every day.

BASIC Knowledge of what Bes around the comer and what the people there are doing depends upon travel. Either we must go and see or rely upon omeone else who has been there to tell us about it. These intangible returns are hard to evaluate in dollars and cents. Whereas some of the specific financial returns are easy to figure.

In capital investment in facili- ties serving travelers and in money actually spent by people Away from home, the travel Industry ranks third in North Carolina-falling behind only textiles and tobacco, and plowing more than three quarters of a billion dollars into the states coDomy last year.

That figure represents businss

done by travel-serving enterprises like automobile shops, filling statloos, motels, etc. But think a bit further into what any industry, manufacturing or mercantile establishment, would be without travel. There would be no salesmen, no customers coming from near or far. no delivery of products of the plants to ers, no need for the multi-millions spent on highways. In other wc^s, without travel there Just wouldnt be any other business. , .

While the Travel Council of North Carolina is Interested in all phases of the overall situation, it to primarily* cdhcemed with passenger traffic, with peo-pte who are going places and doing things and learning something new every day. In order to intelligently approach solutions of the problems facing travelers, the Coimcil eroi^yed world-famed statistician to make a survey. Dr. Lewis Copeland <rf the University of Tennessee made exhaustive study and came up with these rather surprismg facts:

Some 23 million people came from out of the state into North Carolina last . year, traveling mostly in private automobiles on 10 million tripe. They spent $230 million dollars here, while our homestate folks on the move were spending $156 million. He found further that while North Carolina has about 14 percent of the total area of the United States, -2L -percem jsI th. population, it attracted 3 percent of the nation's interstate travelers, and got 2 percent of their travel time and 1.72 percent of their travel spending. In other words, the out of state travelers spend less in North Carolina than the Average for all the states.

Why? Because North Carolinians seem to have more kinfolks scattered over the country, and a lot of visitors stay with relatives. Then, too, the advantage of being close to the center of population means that many people, aboiu half in fact, come in . and out of the state in one day and require no overnight ac-comm(Klation. Only about 20 percent of the out-of-staters require commercial lodging.

To accommodate this approximately ^e-fifth of the visitors there are 19.000 lodging places, employing 9,410 workersincluding working proprietors, with a payroll of $22.2 million a year. And they have annual sales volume of about $55 million. Allied serviceseating and drinking places, auto service stations, etc.run this total i> to $775 million.

dorsement of the Senate.

Manipulation of scores in athletic Contests such as those which have come to light in the current basketball scandal threaten the entire structure of college athletics. Unless the game-rigging is stopped, it will spread like ^cancer. through the entire field of amateur sports. . 1 *11

The sterner law against game fixing surely will

sene as a deterrant for those who might be tempted to make a fast buck by rigging an athletic contest. It will afford greater protection for sports activities, and it will penalize only those who are found guilty of trving to fix sports events.

With a tougher law on the books for dealing with individuals involved in game-fixing activities, it Is reasonable to believe that the courts which hear such cases will be inclined to mete out stiffer penalties to those who are found guilty. This will drive another peg to thwart those who are inclined either to offer copyright. 1961, King Features

; Debts

T

By GEORGE SOKOLSKY

A Risky Gamble By Mao

or accept bribes for manimulating the scores of sports contests.

Checks Against-Excessive Credi

Reflector

INCORPORATED

Published Every Afternoon Except Sunday Established 1882 DAVID JULIAN WHICHARD, Publisher BiUred at Poat Offica. OrMortUa, N. as laoond ctoM laattT.

SUBSCRIPTION RATES By Carrier (In Town) Week 30c

By Carrier (Motor Routes) Week 35c

BY MAIL, Payable In Adwance

Oreenvffle Post Office. Pitt County, Robersourtla, Vaneebofe Washington and Chocowlnlty

Three Months ..............................

.Six ........... .,*... , >.t.ajt.*,t

One Year ....................................

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llirea Months ...............................

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Ah other Outside North Carolina

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I XJne Year .....................^..........

By R.ALPH ROBEY

As a means of preventing an excessive expansion of credit we have an elaborate system of required bank reserves. These are calculated against deposits and this i.s effective because loans are by all odds the most important means of creating teink balances against which checks may be drawn.

Thse re^es vary according to the location of the bank and. within limits, may be changed by the Federal Re.serve Board. Until last year it was required by BV Kf the fesefves be iwW as deposits in the Federal Reserve banks. Now some vault cash may also be counted as legal reserve, but this is a quite small woportlon of the total. It IS through policies which affect these reserves that the Federal Reserve System controls the volume of bank credit in the nation as a whole.

Now the Federal Reserve banks also are required by law to keep a certain percentage against their deposits and note issues. At present this is 25 percent, and this has to be held in the form of gold certificates. (Only the U S. Treasury is permitted to own actual gold.) This Federal Reserve requirement at the moment involves about $11 billion out of total gold holdings in the nation of a little over $17 billion.

This is all important because there is now afoot a proposal for the elimination of the requirement imposed, not on the commercial banks, but on the Federal Reserve banks. If the movement is successful it would free about $11 billion of gqW for meeting ioratofu demands or any other purpose which the Treasury believes to in the national Interest.

Many persons will oppose this change. Their objection will be based primarily upon the belief that such a move would open U.S to the risk of runaway inflation.

This belief is not Justified because. as stated above, this is not the particular re.serve requirement which controls the volume of bank credit expansion 'in the nation. We now have some $? billion of gold in rxce'^s of legal require men Us, and it Us not conceivable that we shall have such a growth of domestic bank credit as to iLse up this surplus. It could be used up onlj be ttie demand of foreign central bank.s and International finance ln.stl-lutions. Last year there wa,<i a large demand from this source, and we lost a substantial amount of gold. But for the pa-rt many

weeks there has been no sudh demand, and there to no reason w'hy it should be renewed, granting we do not become foolish in our financial programs.

Removal of the 25 percent requirement would not enable our commercial banks to make more loans than they can at present. The danger of inflation, therefore, _ would not be changed in any particular, and neither would the soundness of the dollar. It also should be emphasized that this move has no relation to the gold standard as such. If it is adopted we eanretuna to a ft standard jiKt as.easily, and Just as quickly, as if the Federal Reserve Bank reserve to maintained.

It to an enormous responsibility we have imposed upon Federal Reserve Board of Gov ernors. They must watch ^over our entire money and bahking system and attempt to keep.it sound. The board cannot, and should not attempt to, offset unwise financial policies of the government. It has been those policies which have given us the inflation since 1939. and if we have a renewal of inflation it will be from unsound governmental actions, not the policies of the Federal Reserve System. . .Last year when we were losing gold It would have been unwise to make such a change in our monetary system. This i* because it probably would have been interpreted as panic on our part. At presit there to no basis for such an Interpretatiwi. and if the move is to be made this probably to the time for it-

Syndicate. Inc.

The United States met the first serious defeat in its history in Korea. General Douglas Mac-Arthur, our most dtotinguished military leader, was not permitted to bring that war to a victorious conclusion. In fact, he was dismissed from his post, after a glorious career because his judgement of the Korean War differed from that of the politiciana in Washington. He was instructed not to invade the enemys sanctuary in Manchuria. The CJhinese Communists, who heretofore had counted for very little as a military force, gained face throughout Asia.

The Korean War was euphemistically called a United Nations police action and so far as the record goes, the United States was one of several nations involved In that engagement. But the fact to that we put up most of the effective troops and all of the money and, so far ais the East of Asia .to-cnncerned*.it was the United States and not the United Nations which lost prestige as A result of the Korean War.

Every nafitm reviewed its own relations with the United States. The question asked was if Red China could defeat the United States, what has become of American strength and power? The neutrality which followed often meant that the balance of friendship favored Soviet Russia.

The War ended in the Division of Korea at the 38th Parallel between South and North Korea. South Korea, in many respects, became dependent upon the United States: North Korea became a part of Red China.

On April 7. 1960, Koreas

heroic President was cast aside as the result of a students strike. In the Par East, a students strike is not unusual. It is an expression of the will of the people against the government. The complaint against Rhee was not that he had become too old to govern, but that he tolerate<k corruption by hto supporters.

Corruption in East Asian countries is not taken very seriously unless there to hunger and TamBeV The ISlfirier of officials are ridiculously low, the cost of holding office to high; it is ex-

S Other Editors Saying Graduates, What Now?

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Audit Bureau of Clrculatkm. - i

All odverttolng copy must be received at least one day\ before

pubUcatton data.

Opinions In Brie:;

Chaos Is in the headlines so regularly of late that weve begun to think of it a.s one of those nw countries and expect the Chaotian delegation to address the UN any day now. Vancouver (B.C.) Province.

When a newly married couple pet a roof over their head, they want to raise It once in awhile." Anchorage Dally Times.

(The Perquimans Weekly)

The young people o our area who have almost completed their formal educati(wi in the year 1961 should not make the mistake of assuming that they know enough. They have only begun to leam!

What students receive in school, in terms o learning bow to read, study and think for themselves, to more important than the subject that passed into their brains. If, in the process of acquiring a diploma, one has glimpsed the tremendous spread of human information and realized that what has been studied to tile merest fraction of what to open for the Individual to proceed Intellectually.

One of the best aids to wisdom to the reading of the printed word. It brings to mankind the thoughts and Ideals o ^ past, gives facts and trends, points the way to prophecy and understanding and permits those who live to profit by the experience of those who have imssed Into the great beyond.

Millions of American students about ready to graduate are entering a wOTld which is somewhat confusing and, we believe, more confusing than that which has faced graduates In many of the years of our recent past.

It seems necessary In these times for the graduates of 1961 to bear in mind the simple truth and basic principles which have made our country great The story of Americas rise to power and riches is one of a willingness to.work, a love of freedom and independence and a faith in God and religious freedom.

Most of us have read the truth shall make you free. It to even so. but the freedmn is not to be found in the elimination of material factors that enslave human beings. It to to come from spiritual triumph that belongs only to those who under stand the world, the eternal principles and live in accordance with the laws discovered and accepted by the individual.

We would of course, caution the young people that they cannot believe, without intelligent inquiry, everything that they read. Printing has been a great aid in the advancement of knowledge, but it to also a means by which error can be perpetrated and maintained. The honest seeker for truth will be known by the questions raised, the sincere study of existing facts and the Intelligent d^uc-tions drawn from established things.

pected that each position includes perquisites. In fact, in an older China (and Korea as well) many important official positions were purchased, the legitimate graft being so great. And even in my time in China, which was not so long ago, it was expected that an upstanding official would do well by himself and his family and nobody criticized him for it, except a few foreigners who did not know better.

It has therefore been assumed that the students strike in South Korea, which succeeded in eliminating Syngman Rhee, was fomented by influences other than Korean. Not only was Red China suspected but also ths United States which desired a younger man than Rhee, one less arbitrary, more Democratic. So we supported John Chang as Premier.

Now. a military junta has taken over. It seeks an honest government. In East Asian countries. military men are notoriously not honest. The Oriental

-expres^en 4s-that4l- ona to verjL

near to a greasepot. the grease is likely to rub off. Therefore no old cniina hand to going to take aeriously the contention that a military Junta seeks honesty. It may seek a better division of. the spoilsor all of it, but never honesty. It to not a local custom.

Therefore one must seek further. There can be no question but that Red China desires an amalgamation of South and North Korea with Communist North Korea prevailing. This would make Korea a satellite of Red China. It would immediately imperil Japan which can be attacked from the Korean Peninsula without any geographic interference.

It is the strategy of the Soviet Universal State to keep the United States engaged in endless tribulations. The Chinese Communists hold that war between the West and the Socialist countries to absolutely inevitable and even essential if Communism is to prevail universally.

Therefore, Red China is actively teasing the United States into an angry gesture. Laos is a Red Chinese enterprise; South Vietnam is another;-K<*rea is another. At some point, the United States will become suiflclently irritated. Then Soviet Russia wUl have no alternative but to follow the lead of Red China. It is a risky gamble, but Mao Tze-tung must do something because the dissatisfaction in hto country to excessive. The Chinese people have at no time had less to eat.

By ROGER BAB80N BABSON PARK. Mass. I hear that some of the coUege professors who are advising , President Kennedy on means of increasing employment favor expanding eonsumer inatallment buying.

PreSeiit Exte^ Of The Credit Buslaess

Credit domes in two forms:

(1) When you wife goes to her favorite store and has her purchase charged. The atore looks up her record through the Municipal Credit Bureau. If the has no black marks kgainst her, the goods Vre given her or sent to her home. When the monthly bill to sent for these goods, the store expecU a payment in a short time, thirty days later as a maximum. The stores really like to encourags suph -charge accounts, as your wife is likely to buy more if she can charge the goeds rather than pay cash.

The other form of credit purchase to where the buyer gives s note, or several notes, payable on specified dates, with power of repossession of the goods on a certain date after reasonable notice In case a note to not paid.

I do not object per se to such Installment buying, especially on refrigerators, television sets, washing machines, clothes dryers. and other household appliances which can be repossessed in good condition. I, however, earnestly urge that you read the light fine print on the agreement and really understand what you are asked to sign.

Houses, Aatomebiles, And Fondtnre As I read the adverttosments today on new homes for sale,

I am astounded at the way they can be bought by veterans without any down payment, or can be bought by anyone at very small down payments and a long mortgage of thirty or more years^ This to very diflerent from when I was a young man getting married. Then we were compelled to pay one-third in cash and the mortgage would bo written for only five years. When talking to students of Babson Institute. I call to their attention the economics of birds, which build their houses before they are married and raise any little birds.

To young people buying furniture on the installment plan,

I am not prepared now to give definite advice. The laws of different states vary as to the rights of repossession. If you are behind in the payments on. a house, it to a long legal process for the mortgagee to get you out of the house, especially If you are willing to pay a reasonable rent. If you are behind la your payments for a televlsioo set or some other luxury Item, and default on these payments, you must be prepared to let the itore take It TJiCk before you damage it. This also appUes to certain household utllitiea mentioned above.

When it comei to buying furniture on inatallment, a young couple should carefully consider each item purchased. One installment note and agreement shoul(l cover the bedroom furniture; another note and agreement should cover the living room furniture; and a third note and agreement should cover the dining room set. All incidentals should, be paid for in cash. Furthermore, the three lets of furniture irtiould not be bought at the same time; but in order above outlined, say least a month apart, even if you are obliged to camp out for a few weeks. As I look bock to my early married days, we got considerable pleasure out of

Sradually furnishing our little ouse. Surely .mors pleasure comes In striving than to arriving. I

gtaUsilee Which Should Be

Reed *

Let me close this e<dums by giving s(no statistics for bank-tn. merchants, and parents to read. These figures are based up<m a survey by the Unlverlsty of Michigan. The survey showed that 68 per cent of American households are to debt la one form or another. 48 per cent of the families sre saddled with periodic Inatallment debt repayments; 81 per cent owe ' mortgage debts; J4 per cent owe on non-installment debt. According to the study, 14 per cent of the families owing tostallmsot (Contlnusd an page five)

Observation after attending a rot'k n roll show; about all you need to be a singer nowadays is a guitar and a cold in the head. Greenville (SC.) Piedmont.

Odd Angles In Business World

Strengti For Today

By EARL L. DOUGLASS WE CAN LAUGH

Some years ago a prominent baseball manager started hto career with everybody In his city disliking him. He was good for a resounding boo every time he stepped out on the diamond. It looked, for all hto skill, that he would end a failure and have to be replaced-

One day this manager walked out to say something to the pitcher. As he came back the crowd met him with a big boo. lie raised his hat cheerfully and as he did so a bird flew out. The bleachers went into hysterics,. After that the managers popularity began to rise and increased with the years.

It to amazing how often a big laugh has-settled some of the

most intricate and dangerous probleins Very often what we regard as problems are not problenv? at all. They are prejudices. They are dislikes we have taken toward certain people because of personal characteristics. Grudge.s of long standing have sometimes been eliminated in a .split second because the two people who were feuding found something to laugh over together If we only knew all the facts of every situation we should probably find many a murder has been averted by a laugh called forth at the right time.

Laughter has a theraputic value. One of tlie great differences between man and the lower animals is that man has the capacity for toughter.

By ELfdER ROESSNER

The business world is a curious, lopsided spheroid, with three South Poles and global schizophrenia. An exaggeration?. Perhaps. But lets look at the evidence:

A survey shows that 96 per. cent of the 52.000,000 American families own radios. The other 2.000.000 are obviously broke, deal or discriminating. . .Americans drink 400.000.000 cups of coffee a day. a new survey shows. Thats enough caffeine to poison two Russian regiments a week. . . . Smoking Increased in Denmark last year.

, Counting fringe benefits, a teacher can make a basic salary of $1.000 a year in New York. The New York Times calculates. NO wonder theres a shortage of teachers They are all headed toward Gotham.

Bank embezzlement losses rose from $8-8 million in 1959 to $10.1 mllllln last year. . . .Although there's no connection, college enrollment also rose. . . A survey by Avery label shows Uiat 44 per cent o American

men are doing the shopplng . . With so many surveyors working. how can there be so much unemployment?

SHARE THE WEALTH

The Arkln Organization has announced a new price schedule to permit our retailers to in-ciease 'their markups on our collection * from the traditional 4i per cent to 43 per cent- . . . Still another survey: 74 per cent of home-buyers polled said construction and materials were ntost important in a new hou.se . Dtoneyland Is the name of an engineering section of an assembly plant, Chrysler Corp. reports.

With the success of Brand X products, the Old Promoter is planning to bring out Brand XL Products, which will be 'four times as good.

TABS, the official Soviet news agency, said the major agri* cultural problem facing Russia is how it can expand the gross grain harve.st." . . . This rfiay be a warning to Red China not to look to Nikita for help in its current famine. . . .And speaking 0' famines, this years Nor

wegian herring catch to phenomenally small. . . .Norway Is buying menhadden oil from the United States.

MORE DARNED FUN

Pun Pairs, an aggregation of coin - operated amusement de-* vises, are being offered shopping centers as profit-making custonv-er attractions. . .A new 'electronic service will give brokers the last price of any issue traded on the New York Stock Exchange and the bid-asked quotations on 900 selected issues. . . . Preco Chemical, now producing 21 different chemical coatings* and adhesives, boasts that ten years ago it started its opera-tior,s in a bam.

A truck trailer built for use to constructing the Dez River Hydro-electric Dam in Iran has 400 wheels and is 85 feet long.

'A 48 - page booklet Home Painting and Color Guide, in full color, telling how to develop Interior color

cents, from Du Pont, AP-6H1, Wilmington 98, Del. We mention if because jt must cost 48 cents each to print. . . . .Last year $100 million worth of sunglasses

. N .

were sold. . . .AmertoA Is d-

veloping a civil serrioe mentality. Professor Eugsoe E. Jennings of Michigan State Undven-ity declares. So wtMtts wrong with postal derks?

GOVERNMENT OFFERS COLOR REPRODUCnONS

If you want to send drsmatie Christmas cards to friiuids next December, you miiBt Itonk about a series of 14 2b-bsr-a4HDch , full-color reproductions offered by your businese com{>etttor, the Government Printtog Office, Washington 25, D. C. The 14 reproductions, sultabto lor framing, sell for $3J0 a set. Very cawistmasy fs Marry Christmas, 1776. siwwtog Washington surprise attack on Trenton. More amusing, perhaps, could have been a patoting of the Hessians' there wassailing with Jersey applejack which, as all historians know, tipped ths scales In favor of the eolonlsts.

Another reproduction, Knocking Out the Moros, may be Just the thing to tend to business associates in ths PhlllsK pines.