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The Farmville Herald PUBLISHED EVERY TUESDAY AND FRIDAY j b. WALL . .Owner and Publisher Subscription Rates In Virginia 1 Year (By Mail) . $3.00 6 Months (By Mail) . $1.75 1 Year (By Carrier in Farmville) . $3.50 1 Month (By Carrier in Farmville) . $ .35 • Subscription Rates Outside Virginia 1 Year . $4.00 (With Comics) . $4.75

A# V Member . . Virginia Press Association Member . National Editorial Association All communications and monies should be addressed to THE HERALD, Farmville, Virginia Entered as second-class matter at the poatoffice at Farmville, Virginia, untier Act of Congress of March 3, 1S7S

TUESDAY, APRIL 9, 1957 Maintaining- A Service

nOSTMASTER General Snmmerfield is * working a squeeze play on Congress to appropriate $47 million to carry the post office department to June 30, 1957. The postal service lacks this sum to assure the service. If this deficit appropriation is not made the Postmaster General will order curtailment of service, and the mails will I - lowed to nearly a stop with no delivery •m ice on Saturdays. It appears that the Postmaster General has completely lost, or never had, the spirit of the U. S. mail service, lie had curtailed Ihe service considerably in recent years, by discontinuing directory service in the cities. If the complete correct address is not on the letter or parcel, returns are ordered without an effort to make delivery. There was a time when the slogan. “Ihe mail must go through”, meant what it said, and every effort was made to make delivery of mail, promptly. Things have changed. C. S. mail service has been outstanding in the development of the United States. It is essentially a government function, a monopoly, whose first objective should be service. The brilliant history of service to the general public should not be overlook ed in the current squeeze for operating funds. Congress, also, has before it recommen dations for increases in postal rates. First C lass letters would be raised to five cents, and increases made on other classes of mail. There is such a thing as “pricing yourself out of the market”, and it appears to us hat the proposed ryise to five cents will tend to do this. Mr. Snmmerfield is determined to put the postoffice department on a self-sus t - .ring basis. Such is impossible, if gbod -oi’vice i to he maintained. It seems that the department analysts have overlooked tae exi.-tenth of a ready-to-serve cost. For

example, today, a 3-eeht stamp will deliver a letter in San Francisco, or Rice. Va. — 3,000 miles or ten miles for the same rate. Every American can be reached by mail, wherever he may live. The service extends to the remote sections of this vast country. The patron who gets ten letters a year at the end of a 20 rniie rural delivery route is. just as important as the business which re ceived thousands of letters a day. There is a ready-to-serve cost which must be met regardless of the volume of mail delivered. Our contention is that the general public, through tax monies must share in this ready-to-serve cost. Congress has a re sponsibility in providing sufficient funds to make possible this ready-to-serve cost. We base this opinion on the premise that the postal service will be economically op erated and on a business-like basis. Con gress could well investigate this phase of the operation. No doubt some procedures could be instituted to increase efficiency and reduce cost. An overall study could well point to these possibilities. First-class mail rates must be kept low to assure volume and to provide service. Some of the many other activities of the postal system might be curtailed or the rates increased — for example, money orders, savings bonds, parcel post, insured mail, registered mail, printed envelopes, etc. Second class mail, principally publica tions, has been increased 60 percent within the past three years. Because these publi cations, in general, are necessary for the dissemination of public information pre ferential rates may be justified. Congress is in the squeeze, and will prob ably vote the deficit appropriation for con tinuation of the full postal service without curtailment. At the same time a peep into the efficency of operation of the postal service might be helpful.

Foriegn Aid to Asia

f'LL'MHXT 1). Johnston, chairman of the hoard of the l'. S. Chamber of Com t”■ *rco, has reported to a special Senate co-nmltteo investigating foreign aid. John ston has visited and studied the l’. S. aid ! rogram in Vietnam, Thailand, Cambodia, Laos, Burma and Indonesia. Hr undertook the study at the request of the committee and his report was released 11\ the committee. The highlights of John ston's report was an estimate that this -country is wasting at least twenty million dollars a month by supporting the curren cies of Vietnam, Laos and Cambodia at the arbitrary rate of 85 piastres, or other cur rency. to the dollar. Johnston says the free market rate is 75 piastres and the black market rate from loo to 120. He noted that some of these na tions are using U. S. funds to build and equip armed forces whose officers and men think in terms of ancient hostilities and rivalries. Johnston -ays the Southeast Asia Treaty Organization (SEATO). with its implied promise of unlimited American support against Oommuni.dt agression, should be ■the basic support of the military forces of ( antbodia. Laos, Thailand, South Vietnam .aml -other Asian countries. He believes the military forces of these countries are larg er than is necessary to maintain internal security.

Of course, if aid is reduced, these coun tries will object strenuously, and Johnston noted that even though they may protest strongly, cuts in aid are justified. The Johnston report is highly interest ing, since it concludes that the original pro grams of military and economic aid in this area were necessary and that they have achieved the intended reshits. However,, he believes loans should now replace grants and that military and eco nomic aid can be cut down. The key con clusion of the report is that. Communist ag gression is not an immediate critical dan ger, and that, therefore, U. S. aid could be trimmed lest it tempt certain military ven tures or clashes. Johnston also believes the greatest opportunity for economic recovery in these countries lies in a program giving private enterprise a chance to show what it can dp. In general, his conclusion is logical, namely, that this country should see to it that its aid to our allies in this area is greater than our aid to neutral countries. Certainly, where Communist aggression is not imminent, or a critical-danger, as con cerns a neutral country in this area, our aid program should be reviewed, and if it is found that it is contributing to “windfall profits” of foreign merchants, and keeping certain cliques in power in these countries, then it certainly can be reduced.

I lab sen Discusses Hankers And Investments

Babson Park. Mass. April 4 I have great respect for bankers. My father was a country banker in Gloucester. Mass It is safe to trust a banker for the protection of your deposit His first and foremost aim is to protect the money which you leave with him. Based on my large acquaintance with leading bankers all o\er the world I unequivocally support their 100 per cent desire to protect your savings. Furthermore, barring the ravages of war over which they have no control, they v. '.li give you hack every dollar you dtp.yit with them Never criticize a banker fur refusing to make a lean. What About Inflation? When you draw your dollars out t ! a bank, whether your dollars will b iy as much in food, clothing, and :■ Per as they would have when you put them in is another question. Tlie bankers have little control over

what your dollars will buy in the future It. however, is only fair to say that the bankers are fighting inflation in every possible way. In flation hurts not only the value of your deposits but also the value of every bond which the bank holds! Furthermore, it should be remem ebred that a banker should natur ally be conservative It is said that only '' one thing is more easily 1 frightened than a banker,—namely, a “pair of bankers." Bankers brag of their deposits; but the greater their deposits, the more they owe! In then hearts they realize that deposits represent debts. The de positors sit in the driver s seat The depositors, of any bank could close the bank in a week. Hence, I repeat we should not blame bankers for being cautious. Bankers on Investment Advice Bankers may be making a mis take association so much with other

bankers Instead of attending Bankers' Conventions, they perhpas should attend conventions of physi cists. chemists, and other scientists. Instead of taking the advice o f other bankers who are remembering 1929, they should perhaps ask the advice of those who are looking into the future rather than the past If you ask some bankers fo rin vestment advice, they look up the company in an investment manual and study only its balance sheets and earnings statements. They ask to see the accountant's audit. Yet, accountants are only students of the past Their business is to make autopsies. — not forecasts. Accoun tants may be classified as '‘under takers.''—not as “doctors." Officers of Banks In my humble judgment, the president of a bank should be a graduate of some highly pro/es sional school, such as the Massa

ehusetts Institute of Tecimolu; . if he is to give investment advice. Hi needs to know what is ahead, the wonders which are now on draw;;..; boards and in test tubes. He should read scientific journals and associate with men who art* ac- j quainted with the wonderful chanu ' which will come about dm as the next 50 years. Furthermore there should be more “egg-heads' on on bank boards of director whose! knowledge is not limited .1 existing industries. Think Back 50 Years Fifty years age. the telephone companies had comparatively few subscribers. There were only 140.000 automobiles compared with .">4.000. 000 today. Then there were no radios, televisions, electric refnuer ators or stoves, and only a few chain stores. Over half our present national income and wages come from industries not even dreamed of 50 years ago. My first job was surveying for a horse car line in Gloucester. Mass. A half century ago this changed to an electric car line, and now the tracks have been ripped up and busses provide the only public trans portation. My second job was as bookkeeper for Andrew’s Spar Yard, which brought great spurs from Oregon to serve as masts for the fishing vessels. The chief industry of Cape Ann was making paving stones. These industries have now vanished. What About Dow-Jones Averages.’ These averages will soon become 1 obsolete, as are horse cars, the Oregon masts, and the pavm: blocks. The Dow.tones Averiu-* 1 which so many bankers now v. s ship are only tombstones of facing. ! great industries. Tin 0 ' Av>-> a ■

will be eroded and decline, while the basic wealth of our nation— barring war—will continue to climb higher and higher How to Make a Fortune ' .n .hi- column about a little non profit organization m New Boston. N. H , known as the Information Center, which will show von from Sit how a foitune coui.i be made Old Boston, Mas:, will tell you old ways of getting tour per cent interest, but go to New Boston. N. H . for the coming ways of makine millions by investing, m nuclear p< wei*. elec tronics. rare metals, and other f the One thing more: Give attention to church a\crimes rai h--r than Dow Jones Averages. Consider the gradu ates front our colic res ai id the work being done by youth organizations. Tlic hearts and the brains of oiu young people are what will deter mine employment and business con ditions. Airman Southall At Texas Base Airman Jimmy Dorsey South all, 18. is completing the first phase of hi.s basic military train ing at the Gateway to the Air Force." Lackland Air Force Base. San Antonio, Texas Upon completion of this train ing he will b< ass-tvned to an Air Force technical training course or an advanced .basic training course leading, to a specialized Air Force mb. He . nli: red at Farmville Feb ruary 27

Double Check This column has again un doubtedly been misunderstood. It never dawned on me that there were two cases in Oregon. My mind wa- on the Brewster case . so I appologize and always will stand apologetically correct ed. What was taken as a ‘Chide is nint :a;cd. but I t lank the sender of the editorial. "Our Lost Reputation", what set me right. Also, the writer of the letter tunsignedt "what charges Thou". I beg your pardon. And one even thought I was hitting- the “mighty Co-op. . Nope, just the teamster By Boss that was. I ain’t in no scandal mood at this time. I deeply appreciate the infor tfon At least I am no worse off than the Present Administra tion. The I like Ike" has become the one big; denial. Will the President resign? Worst. Rot I ever Heard.” Now. if he is taking the broad sense of the word ROT. as Webster defines it as pertaining to.sheep, boy. he's got something. It’s a slam in the puss lor his followers . . . but ' . ..(I to coni''. Never will this D. C. change the question on this wind up and throw or assume | the role of "I told you so”. Back .seat occupants are never ■ unity of speeding . . . it's the guy at the wheel. That was denial number one on this Presidential calendar. The people of America are in for some extreme eye open ing m the very near future . read your editorials. You have

been doped, now you have the ROT Thank you. Paul Stimpson, fur the visit . . . let's make Farmviile Creamery bigger and befctei Yours and Thanks for reading J Marvin Brown Buckingham county, which em braces 576 square miles, has a popu lation of 12.288.

liljit B.WKIUTT< IFS There were 10. wr, burmo'S fail ures in the first ten monbs of 1956. compared with 9.116 in :he same period et 1055 according 1 > .■ report by Dim and Brads’teet liabilities totaled about 30. per c t.t ireitter than in 195"). Business mortality wu hi:siiest amort.; the young ostablish ments-mue-fifth of tl• faihn • firms being only about a y> ar old About one-halt of (lie baiii.iuptc..-s were in. retailin' .

DIAL 84 0649 The Walt<>n Farm \ ('j\\)\ 208 ACRES FRIDAY The Jones Farm April 19 248 ACRES _! * FARM & DAIRY EQUIPMENT • HOLSTEIN DAIRY HERD • REGISTERED ANGUS . >’D @ SHEEP, ETC. Adjoining farms, approx 458 aci 1 ately or together Modern 8-r> >n '. . bam on Jones! Farm Dwelling bai 2 Miles S.W. of Appomattox on Rt 1 AT AUCTION — SATURDAY, APRli. 20 30 A. M. "THE MAURY PLACE"—157 ACRES 34 Mile E. Appomattox on Rt. No MO 1,1 1 *" nui!' a.fTeases

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