The Courier News from Blytheville, Arkansas on November 14, 1940 · Page 7
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The Courier News from Blytheville, Arkansas · Page 7

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Blytheville, Arkansas
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Thursday, November 14, 1940
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Page 7
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FLfWESCfil IT flflOSI 10 BLYTTTEVtLLft (ARK.) CQTJRnsn NEWS Declares Some Sort Of Inflation Is Sure To Follow Now By JOHN T. FLY.VN ME A Service, Financial Writer NEW YORK, Nov. K. — Wall Street . . . stock prices '. . . national defense . . . the election - - . twenty billion more debt hinii; all these explosives are being mixed to produce a show of life on thy exchanges'. Wall Street can't make up its mind very definitely. A few days before election some speculators got the notion that Willkie mi#u win. Up went stocks. The day uiter election they went down with a Lhuinp. Then Secretary Morgenthau, declared that the government would ;t.sk for another boost, in the looked as if the lid to be hoisted and the country thrown to the bulls. And up went stocks again — as much a.s 8 points for some. They rose' again on Saturday. Why the sudden 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. 1, 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- PER CAPITA DEBT •PAGE SEVEJi ..shows is based on future dtbt of oi government corporations and another ll:lc " Aiwruan-s share i,, .!„. , 1: aion.l « -I inch toli h,crea s ,d sine, 1SH. «!«.„ in cuara ,, t ,. fll tracts already awarded. All this cannot help setting business in motion. All this means profits. But taxes too -there'll have to heavy taxes be .maybe , devastating * taxes. For with seyeral billions d'eficft this year already, we superimpose a la-billion armament program on deficits are good but thej And so while the defense contracts /make the speculators clap their < little hands, the fear of taxes' frightens their little hearts The contracts are good . . . the the New are afraid of Mr. Roosevelt. Henc Die' market went clown day rtt'te election. INFLATION— A MISUSED WORD But the market was not prepared for what has happened. Here it is: In 1917 Congress passed a bil limiting the government to S45.000.- 000.000 debt. That is almost, all used up. So this year Congress extended that by four billion. But with strings. There is about a billion or nearly a billion margin inside The old debt limit, not yet reached, and with the new four-billion gram STUDDED GROUND GRIP TIRE ir act ion . Longer Mileage and Easier Steering on Improved and Unimproved Roads; Here's the lire with all the advancages of the modern, effective mud and snow lirepfas smooth riding an<3 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. SUPER. TRACTION OFF THE ROAD * SMOOTH RIDING NON-SKID ON THE ROAD grotesque lengths u.s in Germany after the last wur. . Inffotlpri merely means the creation of ur- tlficial purchasing'.power liratilll- tion lo that created by the normal processes of business.' ; When ..governments borrow monev and spend it they tend to innate Jt may be a very mild inflation or it may, be a very robust inflation depending on the amount the government borrows. : DEMOCRACY CAN'T , ; CONTROL ALL PRICES Mr. Morgenthau thinks "the; gov j Husband, Governor of rovince, Resigns After British Appointment MANILA, Nov. N. ,t)P) — Tho of British North Borneo hius recoyniml us suUiuu-ss of Sulu. u Philippine provinw com- posi-ii of a number of .snuiU islands, Daynng Daynng Hadji ]»1- nieco of tlu; inti? SuJum Kiram 11 of Suhi and of Governor Duiu Otnbra ol Sulu, rocoynilion evoked wide in- having ix-cn given hy u govurnmuiu, uiul in vhnv the fact Dial the Philiuoi.i«> no longer rocognlwss of a auJliuuite in 3uhi. \More interest was focused on ilut case when Governor Obbra submitted his resignation to Commonwealth President, Manuel l, Quezon. Informed sources said hi position us provincial executlv nnd Ills wife's position us "sul tauess" were incompatible in sev eml respects and the govcrno tiioiighl it'best to resign; The recognition granted Dayan Dayung by the North Borneo 'gov enmieni is connected with ceriaii properties owned by the late Sul tun Kiram, which that govern- Where Navy Will Guard Its Health tinner construction, in addition to repairing* the stockade and sol- dim' quarters; mont leases, culves 12,000 Diiyang Daynng re North Borneo dol lars annually as lease money. During his recent trip to Mindanao. High Commissioner Francis B. Stiyre took interest in UK eminent- can create all this; pur- tense-treaty executed between riic chasing power and still prevent in- Rr ' ttiv;1 ' 1 Mni-n, n, ,, , nation by controlling prices. • Mr Morgenthau has another' -'think" coming. . When', you pump water into a dam the water rises'and everything floating on the surface goes up with the water level; • You cnnnof prevent these thiim^fvom rising, save by controls which'-hold each floating thing down under;the water. •.;.'• It is so with inflation. Pump pin-chasing power into the hand? of the people and they will u<ie it British North Borneo governmcmi and Sultan Kiram. He reccntlj 'said he was 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 Daynng spiritual clader of Morolanci. a position held by Sultan Kiram _- „-.,. K ^u^i>_ unu uiuy wui use LI, H^ainuii neiu uy cauiiaii ivll'tini And when they do-prices will'v.go | Th ey said Datu Ombra's position up. The government may try'to as governor would necessarily be top this. But there are too many affected by his wife's position as prices to be controlled. A ( few spiritual leader, prices get from under control and Commonwealth government quar- they have an effect' on, ail other tej * doubted, however, that North P rices - ' . Borneo's action would have any A ruthless, dictatorial govern- ! effect ou Da y an § Dayang's relations ent can hold nnv'pc Hn,,r^ -.r,>*:«,. i with the government, since Day' n h^ ; Ao?uni?i^t ..slRnod '^' -*--. >- • >.*, * t% .T'' : \.-^, ,^^;^Jl 4.75/5.00-19 73 AND | YOUR 010 TIRE SIZE 4.40/4.50 -21 5.25/5.50 -17 5.25/5.50 -18 6.00-16 6.25/6.50 -16 PRICE FOR WINTER DRIVING ;UT US £QUIP YOUR CARO Chart traces weekly (J. S. -«« ,u business index since eutbrcak of and big. European war. Estimated normal is 100. chart is adjusted for seasonal variations. merit can hold prices down " after ; a.fasliion,-. but .not complei:ely.>But a democratic government cannot do it. It can accomulish something when we are at war. But when we are not • at war .peoole will riot submit to the controls The iob is just too complicated the government can borrow five- billion inside its present limit. A gram 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 A large element in Wall Street, therefore, is betting on this country getting deeper into the Euro- pean-war—withoht an actual declaration. It is.betMng that billion* will flow cut with speed, that prices- will • rise marked Jk « * * Against Italians W. J. (Bill) Wunderlieh's BLYTHEV1LLE FIRESTONE STORE Phone 44 sense. You cannot pumo '-seven billion of government 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 though not runaway inflation will result. - •'. ' ™ BTLUON DEBT IN'SIGHT? Conservative groups oppose the 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-debt, plus five billions in guaranteed obligation^ of government cornoratiop.s, plir the unused five billion ulus the new twenty billions—total 74 billions and an annual interest bil 1 when it is funded after the war of two billion dollars, a burden. Hence thoughtful bankers insist an extension of another five bil!io>- is all Congress should make nor and that not until the whole subjcc* is carefully examined by experienced financiers. A Vacation PARIS, O. (UP)— Heres a. suggestion for next year's vacation: Mr. and Mrs. Chester Heavner drove a friend's automobile to Call- •foralii and had no way to return They bought French-made racing bicycles and made n vacation trip of It—Imvellny 3,000 miles through 20 .stale* in Jws than two months They averaged 100 miles u day. Young icebergs uro known as calves. Itead Courier -wews want. ads7 BUY YOUR HOLIDAY LIQUORS & WINES ! BY THE CASE "' AND SAVE MONEY : Complete Stock ' * BLYTHEV1LLE ' LIQUOR SHOP •107 8. 2nd fhone 167 * * BUY BETTER WHISKEY * * What does Protective Blending add to your drinking enjoyment-.All-Ways? That national defense measures do not consist wholly of piling up cannons, tanks, battleships nnd other destructive agents is indicated by the opening of the U.S. Navy's new medical center at Bethosdu, Md. The structure, G. H. Q." for the Navy's honlth program, is pictured above in architect's drawing. last March relinquished nil her riehts to the sultanate, includinv title to 700-odd Islands In the Celebes Sua, in favor of the Commonwealth. The sultanate had been given recognition under the Bntes Treaty, which wns signed ir 1090. WPA Completes Old Fort From Early Photographs COPPER HARBOR, Mich. (UP) — Wnr Department records, photo- .raphs dating from the Civil War and the files of. various historical societies arc being used" by • 'the Works Projects 'Administration-' in iSssuTcgtaration nf., oJcLPort-.Wllklns. on the tip of''the Kewcenn peninsula. : The fort is a gift of the t/nltcd tatcs government and has been he principal attraction at the' tnte park since it was opened In 921. The stockade and buildings verc erected in 1844, tlie year after n treaty, with the Chippcwn Indians had opened the upper jenlnsuln to mining. Work of restoration, under the guidance of the State Consorvn- lon Department's parks division vrtjs begun In-st, yenr. A new rond king area, tourist camp grounds, and a water .system art 1 H GALL FOR AND SEE * * * * BUY CALVE RT * * * DLhNDED WHISKEY Culvert' 'Reserve": 86.8 Proof-5%Gr Ncu nd Sp, r ,uf. Culvert "Special": 90 Proof-72i/ 2 % Grain N«SS Spirits. Copyright 19-10, Calvcrt Distillcc, CorpSLdoJ"Sew York WHY PAY MORE? L— Short terms considered as cash. a.-Everythhig:. everyday, tho best for as LESS. A— Largest variety in town— Meats— Poultry—Grocerks 4—Prompt delivery town or country-No long waiting' 5.-~Qunlity unexcelled— Never undersold any day. All These A More at the One & Only Ul-113 E, RITE PRICE GRO. fr MKT. 3 " ""'" in BIythevillc phone 234 Dr. Saliba's Clinic BYE. EAR, NOSE and THROAT.<Wf-U 128 K. Kentucky Ave.. Corner Franklin & Kentucky' GLASSES FITTED J. A. Salfba, M.D., M.E., Ph.G. office Phone 418, Res. 411 COMPLETE LINK OF OFFICE SUPPLIES Call If, DELTA OFFICE SUPPLY STOKE U.R. and Ash St.s. Directing the Greeks' stubborn resistance to the Italian advance, against overwhelming odds, is General Alexander Pa- pagos, above, who \vas recently ___ •are HOW for quick starts and real driving power Winte roo When a fullback ducks his head, takes a flying start • and drives into the Jine >vith all his power, he's prepared for the smash \vith protection for his shoulders,, chest, knees, feips 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 Winterproof Service provides to withstand the extra strain of cold- leather driving. MAGNOLIA DEALER AT THE * I G N o t T u r PI\/IUM « » •>. .. > ^ . _ O ALL CARS NEED THESE WINTERPROOF SERVICES CRANKCASE —Drained end refilled wilh winlcr Mobiloil. RADIATOR — Draintd; flujhed. Mobil Freezone addcdi WHEEL BEARINSS — R em0 vcd, cleaned and repacked wifh Mobilgrecsc. TRANSMISSION— Drained; flushed. Refilled with winJer Mobil Gear Oil. BATTERY— -Hydrometer-failed ond serviced.Terminals cleaned and tightened, CHASSIS — Complele MobilubricaHon of vital pointi with Mobilgreasc. 0 H APPY GRO.& F3EE DELIVERY W. Main St, Phone 15 O H 1 fi E *u Hi ^ In EVERY SAT. NIGHT BU.IE ROOM HOTEI, NOBLK r. & Mrs. Jcssce Stilt J. T. Sudhury ••^•••••iMMMBi HARRISONS AUTO PARTS & GARAGE SERVICE STATION General Repairing, Welding Across from Red Top Gin FOR SALE New J941 Chevrolet l / 2 Ton Pickup Driven only 80 miles. A-1 condition. Will sacrifice for quick sale. Hardaway Appliance Co. 206 W. Main Phone 233 SWUL TO GET KIP OF COLV... DRAFTY PLOORS! — Drained, flushed, ft*. filled with fr»$h Mobil Gear- Oil, THE FlYINfi RED HORSC TOP PRICES PAID FOR SOY BEANS CORN RUSSELL BARHAM'S RED TOP GIN Phone 273 North City Limits On ^Highway, til GET 3 TIMES BETTER HEATING... WITH DUO-THERM'S POWER-AIR! Actual tests show thc husky Power-Air blower— found only on Duo-Therm —results in 3 times better distribution of .heat from floor to ceiling! Heat is forced clown to the floors— driven to far corners and into other rooms—your whole house heats up faster and better 1 EXCtUSIVe PATENTED BURNER) The paientcd 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 u?anf— for mild days or zero wea ther simply by adjusting handy dial. Warm yourself in a flood of direct heat by opening the Radiant Door. See the many bcatttifut models today—for heating ! to 6 rooms—as no other heater can.heat them! HARD A WAY APPLIANCE CO J. W. ADAMS, Mgr. 206 W. Main St. Phone 233

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