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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (July 29, 1947)
• . Battalion EDITORIALS p»c«a TUESDAY, JULY », 1*47 Another Inflation Pressure?... Terminal leave bonds, which may be cashed any time after August 1, will five the United States' poet-war economy an un- teftirablo shot in the arm. It it is expected that within three montha over $2 billion will be released already inflated consumer’s mar- kets. The immediate effect of the anticipated rush by veterans to purchase much-needed consumer’s goods must be considered from, three standpoints: that of the government, which will actually redeem the bonds; from the standpoint of the taxpayers of the na tion (many of whom will be recipients of the terminal leave money); and, perhaps the most important of the three, the effect on present prices. j In order for the Treasury to pay for the expected $2 billion demand, money must he obtained from cash on hand as well as from outside borrowing. Since terminal leave bonds are already included in both the na tional debt and budget totals, the demand for immediate payment will have little ef fect on future Treasury planning In at least one sense, the long-run effect of cash ing bonds now will save the Treasury (and consequently the people of this country) sev eral millions of dollars. The 2.5% interest which terminal leave bonds bear is much higher than that offered by the Treasury on other tyi>es of bonds. Thus in borrowing fn.m commercial houses, the difference be tween the two rates will effect a substantial . nvtef. . Sirs will be little effect on the taxpsy- ers of the country . . . that is, little direct Fallacy of States Right... or immediate effect whether or not that by the redemption Of course, the most ini lion concerns the consequence It remains to be sc rroup will profit or loee the oonds. specula the sud- Tto Y«or» Aftw aad Still o den flood of cash on the consumer market Even proponents of the measure to cash the bonds recognize the possible inflationary pressures which will accompany the release of $2 billion on the market More money will be placed on a market which has been overburdened as a result of post-war buying. Any sudden spurt of buying might conceiv ably cause an increase of prices in certain fields. When World War I veterans cashed their bonus bonds in 1936, over $800 million worth was redeemed during the first month. Cloth ing sales, general-merchandise sales, eating and drinking sales, end gasoline sales aU rone an average of 4% in that year. The present exodus of cash will probably affect those same markets this fab, particularly the first two noted. Thus any temporary in crease in prices should come as no surprise. Therefore, veterans may well heed Pres ident Truman's warning to holders of ter minal leave bonds: urwmtn BOOKvms ‘Always Young and Fr“’ Tells of Small Town L e Sine* th« Wfinning of the far muster of very worthwhile nov- teon pubin-hrl ei»SM ky of long r>• t»Wifthed repe- ... end other* by new or little known writer*. There or* tomr for light end *om* for heavy read ing, bet moot of then will add a ET deal to your reed V 21 Years Have Passed... ae esthor oi I ae K,eidrf\ and ‘Tin ha* written another [>Pl»eHling »tory. Thh Conrad Richter, whom you re- memter as the author of Treeo", “The Bee of Graea** nostalgic and appealing story, story ia of a girl and two men (one living and one dead), a story War. ^ of loyalty in ronflet with We. Mr. HANDS OF THE Richter has entitled his book, AL WAYS YOUNG AND F. while the book may be has a certain force the warm and delicate “The Sea of Greek", Mr telb a beautiful Isle of love and renunciation. The aurprising and wfO linger dramatic sx'attPlil Tin» his uausual power* of Mutt- aetorisado*. the author throe to the figures of toey Ma WiU Grail, and ToiS Gmil. with a genius for creaSes fully their _ vama home town fci the early HHMVs. ★ I Walter D. Edmunds, author of that favorite "Dnuut A leaf the Mohawk*’, hat gives us another gripping story of Indians and pio- durjng the kovolutiooanr biff new hook. IN THE SHNFCAi. Mr. Edmunds traces tho/experiencee of a group of white Ueopfe* mostly women and children, ^ ho were cap tured by aa Indian War Party. Dygartsbush, Mew York, tat the year 177H -moke rising from lone ly cabins, bat not the fragrant (See BOOKS on Page 4) Lincoln Papers Add Color, But Nothing Sensational GU10N HALL THEATER it - InconnUtnncy rule* the politlchl mind* of moat avowed "grumbler*" of •Ute*' rights. While backing up to the Federal Government with outatretched hand*, they are nt the *amt time complaining about their toe* being •topped on by nome legislation of the nation al government Uaualty their 40-called Injur ies are in the form of a bill which would enforc e portion* of the Constitution about which a few *Uten have conveniently for gotten. For example, recent attempts to outlaw the poll tax aa a mjuirement for voting were met with the cry from some of the states that their constitutional rights were being interfered with. What about the rights of the many citizens of these states which are limited by the tax? Objections to many other measures of social significance, such as the Fair Employ- Almost $2 billion of bonds are outatand- "I. Robert Todd Lincoln, of Washington, in the District tng If g sizable proportion of these bonds ! of Columbia, sole surviving child of Abraham Lincoln and should be redeemed Inthe near future, genet- the abaolute owner of all of the letters, manuacripta, docu- al Inflation preesurea, which we havebeen! naenta and other original private papers left by my father endeavoring to control, would receive a eub- hod heretofore temporarily placed by me for aafe-keeping in ■♦.»%M t i boost Several hundred ™nn/wi dot I the custody of the librarian of Congress, do hereby give the lare poured into a trending stream would ex-1 mud# in perpetuity to the United States of America ... for eri a strong pressure on prices. 1 ' _ sraww—e on,. 80began Luther H. Evans, librarian of Ooograes, minute after midnight, July N, < whan Mp stagnation saf* lacks fall away and the doors swing r n In tha library annsx. After yean under leak and kgy. tha ^ l w Tuesday /Wednesday Thursday Retert Lincoln wet planning tel bum hla father's pa pars—and par-1 sanded not te da ae. But net known political machine* resent nomeone in on their gravy train f Some of the 48 state* should realize that it wouldn't be necessary for the Federal Gov-1 ermment to take an interest in the plight of its citizens if the states would do it them- naw areuli In • boas under preparation by tha director of the reference division of tha library, David C. Mae rue. Carl Sandburg, greet American! poet and Lincoln-fan, waa among tha 100-odd parsons present at the opening of the documents. World Peace Goes Begging... Most advocates of World Peace are today in the position of a group of tramps asking for handouts. Many words were thrown a- bout following the conclusion of World War II, about this world of ours entering an era of peace and prosperity. However, today little is said of peace in our time Instead, we see nations all around us still geared for war.” Renewal of hostilities in Indonesia, with the Dutch still attempting to bnng about the return of Imperialism to that area leaves lit tle room for optimism. So little is known as to what is actually hapt>enmg there that it is difficult to determine the issue* It aeems as though the Dutch are determined to retain their hold on this small island which suffered ■o much at the hands of the Japanese. The Indonesians seem to care as little for the Dutch aa they did the Japanese. The long, drawn out struggle in China ■eems to have little chance of ending any time aoon. There issues are somrwhat cUmr- •r. It is a fight for control of the Chinese either mint Practice Code and the Anti-Lynching If*'*" eyemtev u« <> v.d.n.1 OoY»nim*nt too much powor. mnu. ud ,1mm of m.mor.mt. ^....... lhM . 7 lh . U k. CouM It bo that rnuny of tho city too utoto i.y m.« Unmln wm opm- , _“°*V’’P"?, 'Sj "cuttlnf | to to tto p»Mk. PT- l 1>l : Retert Unrein, in bla 4e*4 «f Wbel» BStsaeitki aM M beak , gift, wrote tbat te wanted II year* » nd You never hear any of the states turning w aWpa* after his death before w1 ' 1 ^ d#4H w,u * away from huge appropriations made aa re- be made public suit of some of the “pork-barrel” tactics u*«‘d by many of our congressmen. No, aa long as f Pr ^cM of^Tlrtveu nlltirl ^ appropriations are involved, little is said of i the Immediate anceetore of persons states' rights. | now liviag, which. In my lodg ment. should not be made pul rtte." I* Uneoln’s own handwriting. In 1 Vntems LM. Is the semmation of' the end of one of the eraxteet up- seU ever teen in hla cabinet. His selves. After all, 160 years, is a long time to I Portland aLeoTfereser ™v-1 wait for a few states to snap out of their emor of Ohio had resigned in lathMTgy. aboet the same hour aa his secre tary of state, William H. Seward, former governor of New York. To each of these officials, Lincoln wrote that te couldnt accept their tinuous violence would lead one to believe I ™p r th»t »D i» not well. The Britinh keep two ?££ wl, divisions on constant alert, and from all re-1 s.„.rd.” Aad w.. Gov.™, s,. ports they are kept rather busy running af- j ward’s letter, te had written: ‘T. ter different members erf the resilience 3 - 34me •bove sent to Governor movement |Chaae." Ia the collection there ia only one commaakation between Rob ert Uncola and hie father. It is a telegram dated April t. IMS at Hancock Station, aad the ssea- sage reads: T am awaiting you at Haaeaek Station.** with the signs tare "Robert T. Lincoln." Though the fighting in French Indo china has quieted down considerably, the differences still exist between the two fac tions, and some permanent settlement must I be made. Here, aa in China, we have the same unhealthy situation, of the Communist I fighting to put themselves in power by! throwing out the French. Little can be said I for either aide. After one takes a broad look at condi tions in the world todav, he can't help being | the vol world JUST ARRIVED!! NEW LINE OF FALL MATERIALS .... Zippers, seam bind buttons, laces, and er notions .... Fabric Shoppe Your Exclusive t Fabric Center Across from P.O. - Bryan EDWARD G. ROBINSON LON M C CALL1STER She KPDHCWSB Friday & Saturday uirooA'-fi MU m-voum tiHnr I cure e» earn—* **—«* m M MAAWO MO CAttoWW* * iMoeh e* toMWT* W COMING! Sunday-Monday FRANK CAPRA'S “It’s A Wonderful Life" —'Starring — DONNA REED JAMES STEWART — With LIONEL BARRYMORE THOMAS MITCH El X HENRY TRAVERS Only once did the young Lincoln permit hie father's collection te te read. He let Nicolay and Hay use for their two volumes of "The Complete Works of Ab raham Lincoln." published In 1M4. Then Robert Lincoln let the papers Nett of a true democratic aide has anything to offer ■aiternaliveH lyj fight between the reactionary wing, in way of strictly a under Chiang Kai-Chek, and the Commun- taU, backed by Ruaaia. The only consola tion -if there la such a thing during a war- la that the opposing faction may io such a good Job of killing one another, that a third democratic party might rice from the aahes. In Greece we have more of a stake In the outcome of the conflict between the mate monarchist and the r e b e 111 a group* Under the Truman Doctrine been committed to providing ski for the mon archist It would be very unfortunate that in our seal to support the present govern ment that we might be suppressing at the same a group more representative of the Greek people. The situation in the Holy land cannot be called a war, but the fact that there is con- l*e*aimistic about world peso* It though the UJf.O. ia "bogging” down in its attempt to settle differences between nations I ^ who were up until a abort time ago fighting aa allies. It 1* unfortunate that the organ isation must dissipate its strength settling problems. That should have bean done fol lowing the war. The solution ia more com Thirty-odd ysars later • Repub lican party leader, Albert J. B. \ eridfe, same te him for the use of the collection. It Is known that Robert Lincoln refused him. The that Robert Lincoln C/A AIR CONDITIONED! Opens 1:00 p.m. Ph. 4-1181 TUBS. A WED. It ia plicated than the problems themselves. What m«k inquiry ** to the life a beautiful challenge to anyone hoping forlancy oT Beveridge Wdate</Th* Double Feature tha hast! Mayor Popn Out . . . Always’wHling—Indeed, anxious — ton. help the veterans. New York Mayor WII.|York I ism O'Dwyer issued a statement July 18 is legiti- warnlnK that only two weeks remained in g leftist which National Service Life Insurance pol- we have icies may be reinstated without a physical “ “ examination. As of July 8 that was correct On July 9 the Veterans Administration extended the deadline to next January 1. Lippincott is currently advertising Betty MacDonald’s best selling The Egg aad I as a "Pullet Surprise Winner." [•' ' - The Battalion m Battalion, affldal nswapapar at tha Agrtealtnal and Madwakml CoDaga at Turns and tha dtr at '■*“ - rates rarniahad on ■■ ■“■ * News contributions may te muds by telcphon tioa Building. Classified ads way te placed by Room I, Administration Building ^‘torial offica. Room I, Administra- ikphone (4-M24) or at tha Stadant Activities Otflas, release of hit fathar't papers ae- smdtMty. Perhaps tha most competent bio graphy of Lincoln written whila ha waa alive la tha on* by Henry Raymond, editor ef tha NaW Tftnaa—and there have new made svailsMe tl Raymond i te Lincoln. There are also 11 tettosa te Lincoln from the Ro Iflbtholic Archbishop Jnhr Hughes of New York and 11 oth ers from Episcopalian Rinhop Charles MeEhraine. A eonflrmatten at tha eaor taken by Preaident Lincoln and bis S«*cretary at State Seward in n strange tncidant ad 1M1 la < tatned In the collection. Seward d Lincoln a long momdi on polky, in which he, 8a- ■ald It would te tetter for are, and bla first move would JTu op a war with Great Britain thus bring the seceded states back into tha onion. reply waa a atari ^Umt'te*was frith aa g satis Seward stayed WriaaS as ammO-ttam —aw el r— Sfk o——?aTisw-hVuaa. A * MriSa D W. 09 and Rflaatr Capras OWI’MWUCIM MW’ how stwt la 19^2 it wa.« rumored A GOOD PLACE TO EAT New York 118 8. Main ■ THURSDAY 'Rhapsody Blue” In Technicolor JAtshES in AIR CONDITIONED *al>a*MAh] WBNMUEan fiiri tin