The Courier News from Blytheville, Arkansas on November 14, 1940 · Page 5
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The Courier News from Blytheville, Arkansas · Page 5

Blytheville, Arkansas
Issue Date:
Thursday, November 14, 1940
Page 5
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THURSDAY, NOVEMBER 1-1. 10-10 BLYTTTFVTT/LE (ARK.) COURIER NEWS Declares Some Sort Of Inflation Is .Sure To hollow Now By JOHN T. FLVNN Service Financial Writer NEW YORK, Nov. K. — Wall Street . . . stock prices '. .. national defense . .. . the election - - . twenty billion more debt limit: all these explosives are bein<? mixed to produce a .show of life on iht; exchanges'. Wall Street can't make up its mind very definitely. A few da\b before election some specuTatois got the notion that, Willkie might win. op went stocks. The day lifter election they went down with a thump. Then Secretary Morgenthau, declared that the government would for another 20-billion-dollar boost in the debt U. S. PER CAPITA DEBT •PAGE SEVEN I Husband, Cove r n o r of Wince, Resigns After British Appointment Depression Defense' Pictouhurt shows how t-ucli American's share in th« national debt has increased since 19H. Last-'figure limit. Thai J is based uu future debt of $G5,OCO,OCU f COO, which do es .not include five liil|K»tis in thrown to ihe bulls. And up went oblitrt(ioiis> " stocks again — as much as 8 points for some. They rose' again on Saturday. Wliy the sadden change of sentiment? There was, indeed, some- thins ominous in that talk about 20 billion. The defense program is. slowly lifting business activity. Prom July l to Oct. l, seven billions in defense contracts have been approved—though only a part of them have been awarded. But billions will be spent in addition— for soldiers, cantonments, on con- tracts already awarded. All this cannot- help setting business in motion. All this means profits. Bui—there'll have to br taxes. too heavy taxes .maybe . devastating taxes. For with seyeral billions deficit this year already, we superimpose a 15-billion armament program on the budget. deficits arc good but they are afraid of Mr. Roosevelt. Hence the" market went down day ut'toi election. INFLATION— A MISUSED WOltl) But the market was not prepared for what has happened. Here it is: In 1917 Congress passed a bill limiting the government to $45.000,And so while the defense con- Q OQ.QQ& debt. That is almost all used tracts, make the speculators clap U P-So t&s year Congress extended their > little hands, the fear of that bv . four billion. But with their taxes' frightens their little hearts The contracts are good . . . the Announcing the New strings. There is about a billion or nearly a billion margin inside ihe old debt limit, . not yet reached, nnci with the new four-billion grant STUDDED GROUND GRIP TIRE Super Traction ... Longer Mileage and Easier Steering on Improved and Unimproved Roads SUPER TRACTION OFF THE ROAD * SMOOTH RIDING NON-SKID ON THE ROAD 4.75/5.00-19 73 4.40/4.50 -21 5.25/5.50 -17 5.25/5.50 -18 6.00-16 6.25/6.50 •16 10.44 10.17 11.38 13.9S AND YOUR OlD TIRE grotesque lengths as in Germany after the lasi war. .Inflation merely means the creation of artificial purchasing .power in • addition to that created by the normal processes of business.' ; When governments borrow money and spend it they tend to 'inflate It may be a very mild inflation or it may, be a very robust inflation depending on the amount the government borrows. DEMOCRACY CAN'T f CONTROL ALL PRICES Mr. Morgenthau thinks the; government can create all this [ pur- lease-treaty executed between the MANILA. Nov. H. (UP) Kovmuwm. of British North lj<>r noo 1ms rei-ognked us suUanos.-, of Suhi. ti Philippine province c-om- of a number of .small islands. Oayang Dayan-.> Hadji pi- niece of the late Sulum Jamalul Kiram II of Suhi and of Governor Daiu Ombra of Sulu. The recognition evoked wide ln- u>rest. having been uivm bv u ign government, und in vio\v of the fact thnL the Pliiliooino government, no longer recognises ilu» existence of a .sultanate in Suhi. vMore interest was focused on th« ease wlien Governor Obbra submitted hi.s resignation to Com- moiuvealtli President Manuel L. Quezon. Informed sources said hi.s position us provincial executive und his wife's position us "sul- taness" were incompnilbl" in several rospcct.s and the governor thought ii' to resign; The .recognition granted Dayang Dayang by the North Borneo government Ls connected with certain properties owned by the late Sultan Kiram, which that government leases, Duyang Daynng receives 12,000 North Borneo dollars annually as lease money. During his recent trip to Mindanao, High Commissioner Francis B. Sayre look interest in the Where Navy Will Guard Its Health chasing; power and still prevent inflation by controlling prices. Mr Morgenthau has another' "think" coming-. When' you pump water into n dam the water rises - and everything floating on the' surface goes up with the water level;/ You cannot prevent these things,- ifrom rising save by controls \vhich\hold each floating thing down under the water. It is so with , purchasing power into the of the people mid they will use It. inflation, p.ump British North Borneo government and Sultan Kiram. He recently 'said he wns looking into the matter further because it had many interesting- angles. Is Spiritual Lender Explaining the resignation of Datu Ombra, informed quarter.'-' said North Borneo's action had the effect,,: as far as Sulu's Mohammedan inhabitants were concerned, of making Daynng Day ring .spiritual elader of Moroland, n position held by Sultan Kiram under construction, in addition to repairing the stockade and soldiers' quarters. That national defense measures do not consist wholly of piling up cannons, tanks, battleships and other destructive ngents is indicated by the opening of the U.S. Nnvy's new 'medical center nt Bcthesda, Md. The structure. 'G. H. Q." for the Navy's health program, is pictured above in architect's drawing. And when they do-prices will":'go l' rhc y said Datu Ombra's position up. The government may try' ,to stop this. But them are too mnn.v as governor would necessarily be affected by his wife's position as Here's the tire with all the advantages of the modern, effective mud and snow tireplus smooth riding and easy steering qualities. The slotted riding strips give additional non-skid traction on icy or wet pavements. You get super traction on unimproved roads and smooth, non-skid riding on Improved roads. Let us equip your car today at these low prices. prices to be controlled. A few spiritual leader prices get from under control and '< Commonwealth government quar- [ they have an effect on, all other lcr - s doubted, however, that North prices. - Borneo's action would have any A ruthless, dictatorial govern- ! effect on Dfxvan S Dayang's relations raent can hold prices down-after' wlLh thc BOvernment. since Daya, fashion butnot cpmpletely,^But a democratic government cannot FOR WINTER DRIVING* JLtT US f QUIP YOt/R : CAR $OI>AYl W. J. (Bill !i BLYTHEVSLLE FIRESTONE STORE !*hone 4J 210 W. M Chart traces weekly U. S. business index since outbreak of European war. Estimated normal is 100. chart is adjusted for seasonal variations. the government can borrow five- billion inside its present limit. A grant of another five billion will about cover the government's needs for a year. But the treasury asked 20 billion. Wall Street—or at least some traders—immediately decided that the government was getting ready for further war moves on an immense scale. They could see billions flowing out into business and being turned into purchasing power in the hands of the people. There was therefore a rush of buyers of stocks. What these men see is a probable inflation. You can get men in Wall .Street to tell you there will be no inflation. But the trouble is that everybody uses the word in a different sense. You cannot pumo six or _ Iseven billion of government i money into the .blood stream of business — billions obtained by borrowing—without producing inflation. Make it 20 billion 3 and you get more inflation. This does not mean inflation in do it. It can accornulish some- ! I pnHinn fnTPpkc thing: when we nre at war. But i-^UUIMy VJJ CClXD when we arc not-tit war peonle Annmct j-fnlinnr will not submit to the controls •OgQinbl iTUllUnS The iob is just too complicated and big. A large element in Wall Street, therefore, is betting on this country getting- deeper into the European-war—without an actual declaration. It is betting that billion* will flow out with speed, that prices- will -rise and a marked though not runaway inflation will result. • • .-. •', 74 WUJON DEBT IN SIGHT? Conservative groups oppose thc grant of power for another 20 billion in debt limit. It is unnecessary, they say. If we use it we will have the present 44-billion-debl, olus five billions in guaranteed obligation' of government corporations; phr the unused five billion olus Mir new twenty billions—total 7-} billions and an annual interest bil 1 when it is funded after the war of two billion dollars, a stagscrin? burden. Hence thoughtful bankers insist an extension of another five billio- ,.. is all Congress should mnke noV P,15 e ? tln * 1 ! 1C 9, ree1 ^' ..stubborn and that not until the whole .subjcc 1 *"" last Mnrch relinquished nil her rlchts to the .sultanate, Including title to 700-odd islands in the Celebes Sea, In favor of the Commonwealth. The sultanate had been given recognition under the Bates Treaty, which was signed Ir 1899. WPA Completes Old Fort From Early Photographs COPPER HARBOR, Mich. (UP)— War Department records, photographs dating from the Civil War and the files of various historical societies arc being used by the Works Projects Administration In .J&ftjioatanation - nf -.old ..Fort..Wilklns on the tip of'the Keweenti peninsula. The fort is a gift of. the United States government mid has been the principal attraction nt the state park since It wns opened in 192i. The stockade and buildings were erected In 1844, the year after a treaty; with the Chippcwn Indians had opened the upper peninsula to mining. Work of restoration, under the guidance of the State Conservation Department's parks division was befjun last year. A new road parking area, tourist camp grounds, and a water system ure A Yncatloi) Idea PARIS, O. CUP)—Heres a suggestion for next year's vacation: Mr. and Mrs. Chester Heavner drove a friend's automobile to Cali- ioriiw and had no way to return. They bought French-made racing bicycles and made a vacation trip of it—traveling 3,000 miles through 20 stales In less than two months. hoy averaged 100 miles a day. Courier News want ads;"* BUY YOUR HOLIDAY LIQUORS & WINES' BY THE CASE AND SAVE MONEY! Complete Slock * BLYTHEVILLE LIQUOR SHOP Phone 167 What does Protective Blending add to your drinking enjoyment-All-Ways? Calvert BLENDED WHISKEY Culvert "Reserve": 96.9 Proof-65% Grain Neutral Spirits. Culvert "Special": 90 Proof-721/,% Grain Neutral Spirits. Copynulu 1940, Calvcri Distillers Corporation, New York 4.— a. WHY PAY MORE? Short terms considered as cash. Everything everyday, the best for us LESS. Largest variety in town— Meats— Poultry— Groceries. Prompt delivery town or country— No Inns waiting. Quality unexcelled— Never undersold any day. All These & More iit the One & Only RITE PRICt GRO. & MKT. ill-US E. Main in IMythcvilto Phone 234 , Dr. Salvo's Clinic - f EYE, EAR, NOSE and THROAT.* ^ 128 £ Kentucky Ave.. Corner Franklin & Kentucky^ GLASSES FITTED J. A. Saliba, M.D., M.E., Fh.G. Office Phone 418, ties. COMPLETE LINE OF OFFICE SUPPLIES Call Ifi DELTA OFFICE SUPPLY STOKE 1T.R. and Ash Sts. rt -' sistanco Ls carefully examined by experi- | l^f\ the Italian overwhelming Alexander Pa- j pagos, nbove, \vho vyas recently made Commander-in-Chicf of a. dime or a penny or go to in 1380. last brca- " roo When a fullback ducks his head, takes a flying start • and drives into the line with all his power, he's prepared for the smash with protection for his shoulders, chest, knees, tips and head. Cold morning starts and quick drives to work can make equally hard smashes on your car's vital, moving parts. Prepare them with the correct lubrication that complete \X'interproof Service provides to withstand the extra strain of cold- weather driving. ALL CARS NEED THESE WINTERPROOF SERVICES O 0 MAGNOLIA DEALER .M T H E SI Q NO F THE FtYINC RED HOftSC CRANKCASE—Drained end refilled with winter Mobiloil, RADIATOR—Drained; flushed. Mobil Freezone odded t WHEEL BEARlN<iS~-R C movcd, cleaned ond repacked wi»h Mobilgreoie. TRANSMISSION—-Drained; fluihed. Refilled with winlcr Mobil Gear Oil. BATTERY—Hydrometer-tested ond serviced. Terminals cleaned and lightened. CHASSIS—Complete Mobilubricalion of vital points with Mobilgreose. DIFFERENTIAL—Drolncdj flushed, ft*. filled with'fresh" Mobil Geor Oif. H APPY GRO.& FREE DELIVERY W. Main St, Phone 15 EVERY SAT. NIGHT BLUE ROOM HOTEL NOBLK Mr. & Mrs. Jcssw Stitt J. T. Sudbur.v HARRISONS AUTO PARTS & GARAGE SERVICE STATION General Repairing, Welding Across from Red Top Gin GOSH.' ITS SWILL TO GIT RID OF COLV... DRAFTY FLOORS! fvVv'* ^•v JJT- :<f ^'~,'^ v "\. uzz?>asa}». "TSKSSa^T-^w^.^. FOR SALE New 1941 Chevrolet l / 2 Ton Pickup Driven only 80 miles. A-I condition. Will sacrifice for quick sale. Hardaway Appliance Co. 20G W. Main Phone 233 TOP PRICES PAID FOR SOY BEANS CORN RUSSELL BARHAM'S RED TOP GIN Phone 273 North City Limits'-'On' 61 DUO-THERM HESTER Liberal s „ Trsr] Easy Terror GET 3 TIMES BETTER HEATING... WITH DUO-THERM'S POWER-AIR! Actual tests show vhc husky Power-Air blower— found only on Duo-Therm —results in 3 times better distribution of heat from floor to ceiling! Heat is forced 'down to the floors— Jriccn to far corners ftnd into other rooms—your whole house heats up faster and better! EXCLUSIVE PATENTED BURNER! The patented bias-baffle burner on the Duo-Therm gets more heat from a gallon of oil than any other burner made. The exclusive Waste-Stopper eliminates heat losses via the chimney. Get any heat you want— for mild days or zero weather simply by adjusting handy dial. Warm yourself in a flood of direct heat by opening the Radiant Door. See the many beautiful models today—for heating 1 to 6 rooms—as no other heater con heat thenil HARDAWAY APPLIANCE CO. J. W. ADAMS, Mgr. 206 W. Main St. Phone 233

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