The Courier News from Blytheville, Arkansas on September 21, 1949 · Page 13
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The Courier News from Blytheville, Arkansas · Page 13

Blytheville, Arkansas
Issue Date:
Wednesday, September 21, 1949
Page 13
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WEDNESDAY, SEPTEMBER 21, 1949 THE NATION TODAY Currency Stability is Necessary For Traders in World Markets; Britain Has Gold But Trade Lag: tly Sttrllnt f. Green (For James Mai-low) In si-Ham s case, it was as simple as thi s: Pounds would b 50 IHUe as compared will, dollars, thai people didn't want pounds. rney were willing to pay i premium, In pou , !ds to eel hat, dollars. And as long as Britain insisted that a pound was worth 14 03 the many foreigners who thought otherwise didn't do business wlu , Britain Now Britain says a pound is worth*. __ $280. A pair of British gloves Uiat was marked one pound—or M 03— can be bought for M per cent less. Must Sell More Goods t is a more realistic price, by i standards of Americans and a lot of oilier people. Britain therefore should sell more Rloves—and more of everything else she makes. The question arises: Why do countries have fixed, "official," rates at all? Why don't they Just let currencies find tljcir own level in the financial markets of New York or .Paris or Switzerland, nnd let values fluctuate like wheat prices? This is why: A bu.'.inessm'n who sells to foreigners must know the value of the money lie will receive when his cargo readies port. Otherwise he cannot safely quote a price, figure a profit, or be sure of avoiding lose. And a businessman who places orders abroad for quantity deliveries over a long period of time must be sure that the foreign currency is stable enough to insure his getting his money's worth. Stability is Imperative Therefore, nations set great store by the stability of their currency. Otherwise they must cea?e to be trading nations. The Italians used to talk bravely of defending the lira "with 10.000,000 bayonets." It takes more than bayonets to keep a currency stable. In Britain, there was a wartime end postwar inflation. Britian was short of goods, her factories flattened, she "couldn't export until she flld feed anci fuel and house her n people. She imported far more an she exported. She couldn't earn enough dollars by selling to America to pay for what she bought. The "unfavorable balance of trade" became a chronic deficit and finally, a crisis, when the last remaining reserves of dollars ran desperately low. Meantime people in Britain nad pounds. They wore at owrk: They wauled goods and foodstuffs and comforts. They would get thorn from the United States but' they had to have dollars to do so. England clamped restrictions on the number of dollars It would give its people for pounds. As dollars Bot scarcer, people were willing to put an extra value on them. The Inflation made things worse. The labor government had let wages rise. Its social welfare programs, pside. from questions of merit or demerit, imbedded taxes into Ihe co-ts of production. A pound bought less and less, whether it was held by a Briii.srier or a foreigner. American prices went up, but not nearly so fast. There were lots of pounds floating around, but they didn't rcpie- sent the goods that people wanted. Foreigners selling to Britain soon held more than they needed. They demanded dollars instead. All the while Britain was making fine recovery—within the British Isles. Production rose. Exports moved 50 per cent ahead of prewar. But that wasn't enough. Last April the channels of trade became choked with pounds. British exports besan to fall. Even with Marshall plan help, the .gap between dollars owed and dollars earned began to widen. (Tomorrow: Britain's growing financial troubles, and the prospect of recovery through devaluation of tile pound.) Special Three-Member Court Created to Hear Radio Give-Aways Ban NEW YORK. Sept, 21. f/r>) _ A special three-judge court was set up today to pass on the legality ol the Federal Communications Commission's ban on radio and television glVR-awny shows. Federal Judge Simon H. Rifkind signed an order establishing the court, to consist of himself, US. Court of Appeals Judge Charles E Clark and U.S. District Judge Vincent L. Leibell. VEGETARIANS NOTE—Pretty Betty Sorenson is "Princess or Vegetables" in the Court of Agriculture at the Los Angeles Count)' fair, Pomona, Calif. .Here, Princess Betty relaxes among some of her subjects— part ol the $n27,OOO.COO worth of crops produced in Los Angeles County this year. Man Killed, Four Injured In Crossing Accident POTTSVILM, Pa.. Sept. 21. W)— A Reading Railroad passenger trat crashed Into a truck tarrying 4,51 gallons of gasoline at a grade cro« ing near Poltsville yesterday Tii gasoline exploded, killing one ma an critically injuring four others Flames swept through the frm cars of In 10-car train en rout from Philadelphia to Shamokin p. The six passenger cars were t the rear of the train. None of (h passengers was killed. They wcr shaken up In the crash. The London fire department ha an asbestos uniform for its fj ro men. An asbestos umbrella is par of the equipment. KATHEVTLI.E (ARK.) COURIER WEW8 GIKI, ABOUT TO UNDERGO SUROKKV-Thts unusual picture °f an 18-month-old child, Joan Arlene Weber, about to undergo surgery or removal of a ra^or-sharp chise! ra.umed into her abdomen, was made .i in'Tt »" *• A " a ". G ' Si ' vmo " al Silve '- Closs ""»"" >'• JoliM ,,. A tllrec .. hoill . opel . auon (0 reillore the ch . sc| whl<;h ate Her gail bladder and liver, foilowed. Joan llad tripped „,« Len on Uie tool, which was protrudhio f, om a bucket. (AP Photo) Missouri Legislature Launches Political Wrangling on First Day JEFFERSON CITY. Sept. 2I-</Pj+. —Missouri's House of Representatives has picked up where it lett "tr last June—in a political fight ihe issiie was whether Speaker «oy Hamlin <D> of Marlon County could keep holding a bill to set "much ado about nothing." He said the House could use its time better by going out and finding a place to eat lunch. u p permanent machinery" lo re- Toda >' llle House plunges nilo me Missouri laws. He has held:" 5 m * In J°b ! pf the fall scsslon- The average plant shoot wi grow one incli every IP.J days un der normal conditions. ERSEY SHOW World's Championship Rodeo Made in Memphis Exhibits Worfd's Largest Midway SOUTH FAIR and LIVESTOCK SHOW the bill, already pas-cd'by the Sen "te. since last March 14. Rep. Henry Andrae (R) of Col County raised the issue yesterday He said no speaker should Have the right to hold bills such unconscionable length of time. But on a test vote, Hamlin won me House turned down Andrae's motion to refer the bill to committee, 38 for lo 5 Sagainst Doth Andrae and Hamlin ex ctangcd political barbs. Andrae said he thought the qties- on was settled last month when the committee on legislative re search defeated a move b y- Rep Tom A. Shockley < D ) of Pulask County to put the committee staff on a partisan, patronage basis. Hamlin countered that partonage was not involved. The bill calls for appointment for a permanent rcvesor of the statutes and the speaker said Ed Summers has been working in that job for months Hamlin promised he would refer (he bill "in the very near future " He denied charges that the revision work had been delayed by his refus»l to send the bill to committee. During the debate, crveral house members expressed resentment at Senate practices. T h ey iaid £ome House bills are kept in Senate committees forever—"the sleep that knows no awakening" as R ep c P. Turley (D) of carter Counlj put It. ' _T«rley called the whole squabble NO AUTO HORNS on telepk tone working on revision bills to bring Hot Springs Asks U.S. Aid tor City Auditorium WASHINGTON, Sept. 21. W»-A group of Hot Springs city officials and civic leaders were en route home today following a conference In Washington on chances of'ob- taining aid for a new municipal auditorium. The group, headed by Mayor F A. Houslcy, was to leave Washington by air lotloy. Mayor Housley told newsmen l»st night that the group received cooperation from federal offlclnlj I hey discussed possibility of obtaining the auditorium and.aid for slum clearance and public house He said he had nothing definite lo announce on the auditorium project. Seventy-Two- Year-Old Man Rescued from Well LAWTON, Okla., Sept. 21. MV- Seventy-year-old c. c Kfnlsl™ discovered ».„„ „„,„£, ™»™™ that a cistern in his ynrd her( . £ over his li«i,|. n e r c ,f ,„ Nearly four.hours later a passerby, attracted by the retired busl- ncssmnn's cries, fished him out He had clung to a huge chunk of wood to keen afloat. Kenlslon came out of the plunge am prolonged sorvking with minor |'"'«es. Hi' said he was checking the cistern's depth with a cane pole ycslerclnv because the water seeps Into his basement when it reaches a cert-in level Red. blue, tan .lilac, fawn, chain- pasne. and black mice have been exhibited by expert breeders of prize mice. mcch- the laws up to Mule w it|, anfcal changes. Speaker Hnmlln sn | rt |, e hoilc( , the first part ol that work could be finished this week. Lonely Hearts Slayers Get Stay of execution NRW YORK, Sept. 20—<rt>j-Exe- ciition of the convicted "lonely hearts" slayers of »n Albany, N.y., widow was stayed automaliclly today when their counsel filed notice of an appeal. Execution of Itfi-s. Martlia Jclcs «* and Raymond M. Fernandez hat! been set for the week of October 10. They were senlcncd on Aug. 22 for (he bludgeon slaying ofMrs, Janet Fay in Valley Stream. PAGE THIRTEBM British Certify Turbo-Jct Airliner as Airworthy LONDON, Sept. 21. Wj_Bril«|n for the first time has certified a lurbo-jcl-propelled airliner as airworthy for passcncc-r and traffic service. Vickers Armstrong Company announced today the ccrtillcatiou of Its "Viscounl," a four-engincd production model rim-ylne 32 to 5:t pas- Kdipri-s depending upon (he type I'hc Ministry of Civil Aviation con- firmed the announcement. ; American aircraft buyer, thowei Interest In the plane it • British aircraft industry A PRESCRIPi'ioHS Pr«sh Stoefc Guaranteed Boat Priett Kirby Drug Stores LOOK rot IHtS WATCHMAN OH jr ivitr »omi Enjoy the whiskey that's Here's o great recipe (or drinking pita- sure-OtO SUKKY HOOK from Kentucky! M ot& Na«u* M-m-ro, smooth and delirious! At a borbeiue or o banijuel, liorn now on my " OLD (hoiie h "on Hie Sunny Bjook side!" "VT^ Q111| »| v BRAND 6ireel There are no honking horns on Telephone Street — no pushing crowds — no noise. Just turn to the Yellow Pages of your telephone book, lean back in » chair— and you're on Telephon* Street, where practically every business in town is as near as a telephone call. For speed and convenience, use the Yellow Pages of the telephone directory. Whether you're shopping for home or buying for the office, they'll tell you wh« •>uys .. .«]]!... renti. . . repairs, SOUTHWISTMN IILL TELETHON! COMPANY It's your big chance to wia one of these 7OO prizes! (-,-\ Drive lo any Ford Dealer dis- v— playing poster shown below. @ Ge( a Free Car-Safety Check, Free Safely Insignia and Free Entry Blank. ® ln 50 words or less on enlry blank finish this statement: "All cais and trucks should b« salety checked periodically because'-. " ® Mail entry before midnight, October 31, lo Ford Car-Salety Contest Headquarters, Box #722, Chicago 77, Illinois. /fSSfev (Ownws of any mike ot CM- or truck m*y enter c*nt**t) r-i (a) Useonly official entry blank obtained al any Ford Dealership displaying the poster shown below. Print clearly your name and address. (&) Contest is limited to the continental United States and Alaska. (c) Prizes as slated on entry blank, will be awarded on the basis of sincerity, originality and aptness. Judges' decisions are final. Duplicate prizes in of ties. Entries must be submitted in the name of the registered owner or his desig- nated representative. Only one entry percaror truck maybe considered. All entries become the property of Ford Motor Company. Contest subject to Federal, State and local regulations and to contest rules on entry blank, (rf) Winners' names will be poster! at all Ford Dealers' not later than December 1, 1349. (*) Contest is open to all residents of United States, except employees of Ford Motor Company, Ford Dealers, their advertising agencies or their families. 25 Mw fans "Ikt FaiHam Cur *t At lorn," 4-door Cuslom V-8 Ford Sodoru, M with Rodio, "Magic Air" KUotw, drive, and While Sidewatt Tir»*. General Duty Model F-5, V-S stako body, 158-inch wh FOR D Trucks, equipped wifh R«<jj« and Magic Air" Healer. Oplional ai priz« te HM ta^ 5 of the 25 car winners who specify prcfamo Far • Iruck on Contest Entry Blank. -25 VOOO US. /oot/oous. frul ^~^^Z~* 350*25 US.SAM6s8wx Driv* in today! Get your free Safety Check, Get your trttry I PHILLIPS MOTOR COMPANY Fifth & Walnut Phone 4453 Send in your entry * Contest closes Oct. 31

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