Evening Star Newspaper, July 25, 1933, Page 3

SXSTATES READY || Debs, Dollars and 10 HANDLE LIQUOR panacy o attemps oo Eight Others Have Prepared to Submit Local Dry Laws to Popular Vote. Mucrnery for the control of liquor already has been set up in six States . anticipation of the condition that would be brought about by repeal of the eighteenth amendment. State prohibition laws have been re- peeled in 12 other States, and in the event of national repeal these will re- very to varying degrees of open sale, according to the laws that existed prior to the constitutional amendment. Eight States have arranged to submit their State prohibition laws to popular vote to determine whether they shall b= repealed or modified. In these eight, and the remaining 22, varying degrees of prohibition will re- main under State laws if the eighteenth amendment should be removed from the Constitution. Six Make Provisions. The six States that have made pro- visions for dealing with the liquor problem if it is returned to the States are Montana, Indiana, Rhode Island, Arizona, Connecticut and Delaware. The 12 that have repealed State pro- hibition laws are Colorado, Oregon, New York, Washington, Illinois, Massachu- setts, New Jersey, Maryland, Louisian: California, Wisconsin and Nevada. Sev- eral of these have taken cognizance of the possibility that the eighteenth amendment might be removed and have made some effort to meet the problem. Wisconsin legislators are endeavoring to set up a legislative committee to pre- pare for State regulation; the New Jer- sey Legislature reconvenes August 29 to seek to centralize liquor regulation in a State commissio; Massachusetts has set up a special commission to draft a liquor-control plan; a regulation bill is being prepared for submisssion to a special session of the Colorado Legis- lature next month. In the District of Columbia, whose laws are written by Congress, there is doubt as to the condition that will ex- ist if the eighteenth amendment is re- pealed. Attorneys for both the Anti-Saloon League and the Crusaders, an anti-pro- hibition organization, say the District ‘would be without liquor regulatory laws. Will Act for District. Vernon E. West. assistant corporation counsel, expressed belief the Volstead act would remain in effect in the Cap- ital until repealed by Congress or super- ceded by a local enforcemena act regu- lating liquor sale. Chairman King of the Senate District Committee is of the opinion the Vol- stead act would be at least partially operative here in the event of repeal by the end of the year. He expressed the opinion that a local regulatory act would be taken up by District commit- tees as soon as possible after the neces- sity for such action becomes apparent and that in this event all groups of citizens in the District would have an opportunity to be heard. Michigan has repealed constitutional prohibition and a special session of the Legislature is expected early next year which might deal with liquor legislation i the prohibition amendment should be taken out of the national consti- tution. In Towa Gov. Herring is advocating a State liquor control system pat- terned after the Quebec Plan. The question will be considered at a spe- cial session of the Legislature in Sep- tember. The eight States that are submitting their State constitutional prohibition amendments to popular votes, most of the elections to be held next year and most of them to be coupled with votes on repeal of the eighteenth amendment, are: West Virgmia, Nebraska, Ohio, ‘Wyoming, South Dakota, Florida, Idaho and New Mexico. 22 States Locally Dry. Most of the other 22 States are bound by State constitutions to prohi- bition and, although several are among those that have voted for repeal of the eighteenth amendment, few of them have taken any step toward arranging for answering the question that na- tional repeal might propound. In addition to Iowa and Michigan, they are; Utah, Missouri, Pennsyl- vania, Virginia, Oklahoma. Alabama, New Hampshire, Vermont, North Caro- lina, Tennessee, Texas, Georgia, Mis- sissippi, North Dakota, Arkansas, South Carolina, Minnesota, Kentucky, Maine and Kansas. North Dakota has repealed her con- stitutional amendment, but still has a State prohibition law. Missouri has a State prohibition law and there have of the Legislature might be called in, the event of national repeal. Pennsyl vania's State prohibition law runs con- currently with the Volstead act and would be automatically repealed if the national act were. ‘ been indications that a special session 1 e ROOSEVELT IS INVITED TOV.F. W. ENCAMPMENTH President Also Receives Bid to Participate Kentucky Memorial Dedication. President Roosevelt took under ad- visement yesterday an invitation to at- tend the thirty-fourth annual encamp- ment of the Veterans of Foreign Wars of the United States, to be held at Mil- waukee, Wis., from August 27 to Sep- tember 1. ‘The invitation was presented by Rear Admiral Robert E. Coontz, U. S. N., re- tired, commander in chief of the organ- ization, who was accompanied to the White House by Representative O'Mal- ley of Wisconsin; James Z. Van Zant, senior vice commander in chief of the organization; L. S. Ray, vice chairman of the National Legislative Committee, and Charles E. Weickhardt, national naval liaison officer. President Roosevelt also took under dvisement an invitation extended by <enator Barkley of Kentucky to partici- te in the ceremonies incident to the ledication of the George Rogers Clark Memorial in Harrodsburg, Ky., next November. SPECIAL NOTICES. E'L STOCK HOLDERS OF NEW MOSES all Building Co. are hereby notified of annual meeting August 24th, 1933. at 7:30 P.m. at the home, 1421 T st J. STEW. A. JACOBS, Secty. in WE WILL PURCHASE OUTSTAI accounts receivable. Phone NAtional 89 R T o Ter s sauate 15 G omises No. 1733 De Bales st. Bw- mimuniciate with interested party. Address W 'D.. Box $4-Y. Star_office. FULL OR PART LOAD TO o A New York. Richmond. Boston. Pitts- Durgh “and. all way- points: epecial rates. ATIONAL INC.. 1317 Ao 4e, NA- 1460. _Local moving aiso. Treasury Department Office of the Comptroller of the Curremey Washinsien D. C. ay 29. hereby siven to_all persons who ey e claims. against ~The, Commercia Ratlonal Bank of Washington.” Distriet N liabia, that the same must.be presented: Roberi O Baldwin, Recelver, with the o} proot (hereof within three montbs from a7 be, s date or they mAT e 01 CONNOR. of the Curreney. ‘ man will “fx” your roof af e A% e eharge o repair it mignT. Bit when Taix comes our work will hold: PANY _ NOrth 44% cour 4 FURNACES gieszeé, by vacuum, S$250. Parts for every -E;’m Heating =3 * og-hovr - R N ¢ FIRST known s installed and re- Carl Robey, Inc. ) of ) Place Debtors and Creditors in Two Op- posing Groups—What| Debtors Are to Be| Chosen for Benefits? | (Note: This is the thitd and conclud- ing article of a series of three special articles discussing proposals to aid debtors by cheapening dollars.) HE two previous articles of this series have shown the fluctus- tions up and down of the value of the dollar measured in com- modities — sometimes benefiting the creditor at the expense of the debtor. the creditor. But the changes in such values have been wrought heretofore without changing the standard of meas- urement—the gold dollar. If currency debasement is undertaken now, at what value in purchasing power stabilized to do justice to creditors and debtors? Does experience show that it value of any year in the past? How can a value be fixed which will do justice to all debtors, since net all the debis were contracted in the same year and since in no two years have the debtors borfowed the same kind of dollars? The assertion in the Senate that one purpose of the ‘“new deal” was to transfer two hundred billions of unearn- ed dollars from creditors to debtors, if even remotely accurate, raises distinct- 1y the questions, “Who are creditors?” and “Who are debtors?” Investigation shows that it is impossi- ble to separate people into these two distinct, hostile groups or to keep peo- ple from shifting from one group to the other every year or to prevent the same person from being at the same time both debtor and creditor, with his financial house divided against itself. When the attempt was made by Bryan in 1896-1900 to right the “grime of 1873 it was found impossible to do justice to the slightly aggrieved debtors | of 1873 by inflicting oversevere punish- ment on the creditors of 1896. It is equally impossible in 1933 by inflicting penalties upon creditors to right the wrong to debtors in 1913-1916. The “Crime of 1873.” According to the free silver advocates of 1896 it was argued that because a debtor of 15 or 10 years past had been “swindled” by a slightly appreciating money, therefore the creditor of that day should be swindled out of 47 per cent of his due by & sudden depreci- ation of the money with which he is paid. That was the silver view of com- pensation. All creditors were grouped together and all debtors were grouped together without regard for the years in which they lived and were arrayed against each other like the Indians and white men of old times on the frontier. If a white man killed an Indian the Indians would in retaliation kill the first white man whom they met. The creditors of 1896 were to be robbed of 47 per cent because the debtors of the 70s and the 80s may have been robbed 2 or 3 per cent, though the debtors of the 70s who suffered this small rob- bery were in many instances the cred- itors of the 90s whom it was proposed to plunder. The creditor Shylocks, marked for destruction by the inflationists of today even as they were marked for destruc- tion by the free silver advocates of 1896, include every one (millions in the aj gregate) who is paid salary or wages only as the service or labor is perform- ed.” To the extent to which the dollar would be depreciated by currency de- basement, to that extent would wages be reduced, though remaining nominal- ly at the same figure. If it is assumed that inflation would, as many of its ad- vocates assert, raise the price of all commodities to a figure that might dou- ble their present rates, no working- man believes that his wages would be doubled at once. D the l::flcdo- period between 1929 and 1933 has been a steady increase of the purchasing power of the dollar and depreciation of the prices of commodities, whether silver or farm products or cost ef Hving re- tail or wholesale. But even this increase has not carried the cost of living (retail dollar) up to the level of 1913 to 1916. In 1913 the dollar was 100 cents, in 1914, 97 cents; in 1915, 95 cents; in 1916, 84 cents; in 1930, 62 cents; in 1931, 68 cents; in 1932, 75 cents. Is there anything se startling in the unwholesome conditions of today that in order to correct them we must re- pudiate our contractual gold dollar er it of half its content er substitute for it a silver dollar of a small fraction of its bullion value? These devices were not mecessary fo correct the conditions of 1913 to 1916 ag related to the “dear” cest of living dollar. Why are they necessary mew? Does the element of justice to the debtor really enter the picture? Can the matter of justice to the debtor considered without equal consideration of justice to the creditor? Loans, of course, are made every day. Industry and commerce are supported by a credit system in which money is being con- stantly loaned, to be repaid at a later date. If it is unjust to force a debtor to y “dear” dollars when he bor- “cheap” dollars, is it not equally unjust to force a creditor 1 - '.tl: an‘ *‘cheap” dollars in return for the “dear” dollars that he advanced to benefit the debtor? And, if the standard of measurement—the gold dollar—is to be shortened so0 that dgbtors may repay in the same dollars wi they borrowed, what debtors are to be thus benefited? Liberty Loan Debts, Let us examine, briefly, the case of Uncle Sam, who, while being a creditor as regards the rest of the world, is & debtor at home; who cheapens his dol- Jar for the benefit of his debtors in Burope, to the injury of his bond- holding and other creditors at home. | Let us consider his debts as represent !in the five Liberty loans. Let us say, for the purpose of this illustration, that these debts were assumed in terms of the Department of Labor’s “cost of liv- ing” dollar—such dollars being expres- sive of purchasing power at retail and the 100-cent ?olh‘r ntul!u being used as_the base of calculation. In June, 1917, Uncle Sam borrowed nearly two billion dollars in the first Liberty loan. The dollars were in re- of wholesale prices sometimes the debtor at the expense of | February in gold content must the dollar be | will remain stabilized it fixed at the cha: be | of Agriculture at 30 years: that is, the ed | Most of them run for about six years. farm products and in relation to silver forey *The rtmen of food. ciothing, rent, fuel and light. hol which properly may be considered a5 in, resentative of retail prices. The i . and the purchasing power of gure. The 3 " As i nging value of the dollar in terms exchansed. 1926. prices for that year being is representative of lesale froups: Farm products, lightin t furn) n, sometimes in ifled ing value of the dolls “This doller 15 based on the Depar prices for grains. frults and ploducts and pouitry products, he value of the dollar received by the fi it 1s exchanged. It is not in terms of the commodities for which t! **s*Inasmus it _has_ be the value of silver the of silver is here given. The Bower of the goid dollar in termg power of the gold dollar, end ti he ‘ratfe . ng'tou.hu Dep't of Labor or Cost ‘Wholesale Dallar of Dollar - - s1.43 146 143 m oTor o rororoyen - 1 1 e, res o' he ‘selecita commodities The Department of Labor's wholesale index. new series. is based on the year en the Sgure of 100 of 784 commod! and leatner bullding materiais. "chemica the dollar’ This 3 the b n R tment of This doliar i used Armer in terms of the to coni v mm o of silver to of silver; the higher the e lower ihe price of silver which it buys. Cufiency bebaseiheht Van'mjonq in Dollar Values £ s B 13131 36 72 & D e O T 222238 242323828388 it of Labor's “Cost of Livi ; s _fo! h R which varies with the B all commodities roducts, textil Fmbol of retail d n 1. sel 1 the comuodities. ndex pumbsrs of ferm snimas. daizy ress the changes vey the purchasing power of the exchanges i when he buzs, instead of sells. ere 1 some peculiar afinity between ties, the valus of the deliar in e Tatio, the srester ) may be found by consulting the table which accompanies this article). first loan matures in 1947. Nobody knows what the dollar will be worth then. But the loan was callable last June, and if it had been called then and the bonds redeemed, they would have been redeemed in 73-cent dollars. As a debtor, would Uncle Sam have been defrauded out of 3 cents on the dollar? In November, 1917, Uncle Sam asked the le for the second Liberty loan. The then was worth 70 cents. The loan was called for redemption in November, 1927, and Uncle Sam paid the loan in dollars worth 58 cents. Was it fair for Uncle Sam to repay 70- cent dollars with 58-cent dollars? Were the creditors, his own people, defrauded? No attempt was made then to cl the standard of measurement—the g dollar—in order to permit the creditors of the United States Government to re- ceive 70-cent dollars instead of 58-cent dollars, ‘The third Liberty loan was made in 1918, with a 57-cent dollar and was called. for redemption in 1928 with a 58-cent dollar. That was relative jus- tice for both debtor and creditor. But the fourth Liberty loan was made in 1918 with a 58-cent dollar and is call-y able for redemption, but will not be called, next October. If this loan were redeemed next October, would it be an act of justice to Uncle Sam to change the standard of measurement—value— so that he could repay the loan in dol- lars worth 58 cents? Not if there was any justice to Uncle Sam in the fact that he borrowed the Victory Liberty loan in 1919 with a 56-cent dollar and called the loan in 1923, when the dol- lar was worth 60 cents. Millions of Deblors and Creditors. But Uncle Sam is only one debtor, and he has been spoken of here as an individual entity, when, as s matter of fact, he symbolizes all the people | of the United States. When he bor- | rows money from the people, it merely means that the people are making avail- able their monev to permit themselves | to do certain things. ‘There are millions of private debtors, and many of these debtors are, at the | same time, creditors. A man buying a home is a debtor, but if he works for a salary he is, in a sense, a creditor. An insurance company may be a creditor as far as farm mortgages are concerned, but the insurance company is & debtor in respect to its policy- holders. We speak of the farmer as a debtor class at present, but retired farmers and active farmers er hold a ter percentage of farm mort- gages than the Federal land banks, the | ing commercial banks, the mortgage com- panies or the joint stock land banks. Retired and active farmers and other individuals hold a greater percentage of farm mortgages than the insurance companies, or than the commercial banks, the mortgage companies and the joint stock land banks put together. If justice is to be given the debtor farmers by such expedients as loweting the money standard. there is a counter- | balancing injustice to the creditor farm- | ers, Debts of Various Terms. When did the farm debtors assume their debts? It would be necessary to know this if, by reducing the standard of value, they are to be given the op- portunity to pay their debts in the same kind of dollars that they horrowed. The average term of farm debt in the United States is estimated by the Department average time it fakes to pay off a farm debt is estima at 30 years. But most of the farm debt was contracted during the war years, when the vslue of land rose spectacularly, and when doliars ‘were “cheap” and easy to get and when prices of farm products were high. Farm debt increased 136 per cent be- tween 1910 and 1920, and s further 19 per cent between 1920 and 1925. Now, were these farm debts contracted in terms of the 100-cent farm dollar of This | the paid off in 1922 with a §9-cent dollar; 0se who borrowed in 1917 with a 70- cent dollar paid off in 1923 or secured a new loan with a 57-cent dollar; those ‘who in 1920 with a 49-cent dollar paid off in 1926 or secured a new loan with a 57-cent dollar. Now that the cost of living dollar is around 75 cents how much would the standard of value have to be reduced to bring “justice” to the grearst number of farm debtors? In what year would there be found the greatest number of farm debtors? Farm debts, according to estimates for the year 1929 by the National In- dustrial Conference Board, amount to about $12,224,000,000, which is about half of the individual, non-farm in- debtedness of the Nation, estimated at $24,971,000,000. In what year was most of this private indebtedness assumed? ‘The indebtedness of corporations is es- timated at $87,371,000,000—which is more than twice the amount of indi- vidual and farm debt combined. When was most of this corporation indebted- ness assumed? To what level would the value of the dollar arbitrarily be reduced to enable corporations to pay their debts in the same sort of dollars that they borrowed? No “General Average” Debt. ‘There is no figure to express the average term of indebtedness in the United States. A great amount of in- debtedness, represented in commercial bank loans, is payable within the year. But some corporation bonds are written in terms of 75 years. It is impossible to settle on the class of debtors who are most in need of obtaining a cheaper dollar, and no such settlement, if it were attempted, would be possible with- out injustice not only to creditors, but to large numbers of other debtors. In selecting one group of debtors to be blessed with a “cheap dollar,” another group of debtors would be discriminated against—these being those who have borrowed an even cheaper dollar. It is to be remembered that those who would change the standard of value in order to give debtors the same sort of dollar that they borrowed are of itrary would result in establishing & new level of prices. For, once this new level is established, it must be maintained. And maintaining it is, all experience teaches, an almost impossible . Once there is inflation of the currency (by re- ducing the gold content of the dollar or by issuing a cheap silver dollar in com- petition with the gold dollar or by print- unsecured paper money), and once an artificial, new level of prices has by such means been established, the only resort in the hands of the authorities when this level begins to sink again is more inflation, Dangers of Inflation. The difficulties and distress accom- panying an unstable relationship be- tween the money standard and com- modities are obvious. These difficulties and this distress result, in the opinion of some men, from the various will be the next. The ones most to t'mldhth:e'ho ceased speculating E modities and began speculating with of his mone 1915, the 85-cent farm dollar of 1916, |POWers over the thetsbeent farm dollar of 1917, the 50- cen! farm dollar of 1919, the 48-cent farm dollar of 1920, the 86-cent farm dollar of 1921, the 80-cent farm dollar of 1922, the 74-cent farm dollar of 1933 :n.z;ulnl or the 65-cent farm dollar of Six-Year Average Debts. term of farm The average loans is eight and a half years, but farm dollar of 1918, the’ 47-cent | t® The renewal of a mortgage is, to all in- | to tents and purposes, the making of a new loan. If, for the purpose of this fllustra- tion, we are permitted to use the “ drjm" dollar in connection with farnm indebtedness, it may be said that the farmers who borrowed in = Joan in 1920 or secured a new with & 49-cent dollar; those who rowed in 1915 with a 95-cent - dol paid off in 1921 or & new with & 57-cent dollar; ‘who bar- rowed in 1916 with an 84-cent dollar CRIPPLE IS SUSPECTED OF KILLING TWO TEXANS Footprints of Limping Youth Clue for Sheriff in Death of Fort ‘Worth Pair. By the Associated Press. FORT WORTH Tex., July 25.—PFind- ing of footprints, apparently made by & lim] used 3 to take Wright and deputies yesterds; up the trail of an ll-yulw:ldY crippled colored ycuth as a suspect'in the double slaying of A. 8. Pete Michael, 33, and Cantrell, 19, on a residential street here. The bodies of the man and woman, with bullet wounds in the back of their “henest” dollar. GARMENT WAGES UP CINCINNATL, July 35 (®).—Wages have been increased 20 per oent by members of the Union-Msde Garment the ing fuel and | o Iru use Treasury and Stockholders Combat Depositors’ Re- - .-ceivership Action. e waicn the dollar | has not been Contend It Is Corperation, ‘The stockholders and directors will contend, it was learned, that the bank was a corporate bond, and had not lapeed into a partnership in 1929. The depositors believe the bank was & cor- poration, did business with it as such and the institution was examined and treated by the Treasury as if it were & corporation under the laws of , the directors claim. ‘The Treasury receiver, it was point- ed out by a director, is “much more eco- nomical” than a receiver under the court. The stockholders and directors, it was said by a spokesman for the meeting last night, will work to con- serve to the fullest extent what is left in the bank for the benefit of the de- positors. ‘The Depositors’ Committee in its suit and at & mass meeting recently, de- clared the intention of Trom the stockholders and directors per- sonally for the losses of more ‘than $1,500,000 found in the bank after the suicide of the vice president, Robert 8. Stunz, on March 14. PUBLIC UTILITIES “ PARLEY PLANNED Curtis Mees in Atlanta Today to Confer With New Com- mission. By the Associated Press. ATLANTA, July 25—Curtis Mees, & utilities engineer of Charlotte, N. C. who testified for the prosecution in the ;l‘lb:r proceedings against the former c Service Commission of Georgia, was here today to confer with the new on. In political circles it was Mees might be appointed n‘.mgwbdw of the new commission, named by Gov. e Talmadge after he sus- pended all five members of the old com- mission on charges of neglect of duty. Mees was called as a witness at the ouster proceedings before the Governor by Jack Savage, counsel for the ousterpettion, - Savage wid 3 o lon. va id tods; Mees was in Atlanta. pade 4 “He is here at the invitation of the Governor, and of the new commfssion, for a conference on the utilities situ- ation in Georgia,” Savage said. expert ot 'the commistion, Savegs ssid: said: “I don't know about that, but the State would be lucky if the commission Mr. Mees’ services. I don't REAPPRAISAL. OF FARMS ORDERED IN WISCONSIN Action Yollows Senator Duffy’s Complaint Same Estimates on Land Are Too Conservative. By the Associated Press. £ " MADISON, Wis., 26 —Henry Morgenthau, jr., go! of the Fed- eral Farm Credit - , yes: terday ordered a rea| isal of all Wis- loans Te- _of two farms as_typie He made the inspection after . Ryan Senator from Wisconsin. | Wilbur Carr Is ) - Fixture' gk i e Considered _of State _Depa_rtinent to see Moley. with an bundle papers and walked to the private sec- desk, telling her he wished to Assistant of State,” was the crushing lnmqhe wll.keed out. Whether Carr saw Moley the same day the eye-witnesses of the scene did not' know. 0.0 ATSTOGH BACK EXTRAPAY Asks Wabash Receivers What Has Been Done to Re- claim $353,369. By the Asseciated Press. The Interstate Commerce Commis- sion yesterday directed a letter to re- Wiliam H. then and chairman cof the board. Williams was said to have received $259,836 from the Wabash from Jan- uary 1, 1930, to October 14, 1931, and also from other railroads, some of them ‘Wabash ries, which brought the total to $353,369. Addressed te Receivers. letter ed B. was controlled the Ivania o by, Pennsylva: During the first nine and one-half months of 1931 Williams received from the Wabash $76,003, the Ann Arbor 931,715 and from the New Jersey, In- diana & Illinois $10,857. He received nothing from the Van Sweringen lines. HEADS CEMENT FIRM W. A. Wecker Named President, Treasurer of Marquette Concern. CHICAGO, July 35 (P.—W. A Wecker, Chicago, was elected president of the Marquette Cement Manufacturing Co. yesterday. He was formerly secre- tary and treasurer and will continue to E. L. Jaeger, Mempl general ssles manager. | U. S. Depository Is that all? do thenis. .. to go! | BELLCANS Ep== o R, Tria BELL-ANS. Make It At Home — Bank of Commerce & Savingfi IN THE HEART OF THE SHOPPING DISTRICT 7th and E Sts. NW. N o7 HOT MEATS as well GRESHING! by Greyhound Bus o et ealing mioeg e wayd. Prompt frequent service to every. principal city, every choice vacation Ty oo portation. é .4 Hundreds of Savings Like Thess Chicage $14.00 Richmend 308 New York 550 Nerfolk e Philadeiphia 3.5 Fredericksbars o Besten 8.50 Charleston, W Va. Cimcianati 11.35. 9.25 Reaneke 5.95- New Greyhound Bus Depot’ 1403 New York Ave. NW; Metropolitan 1512 GREYHOUND A SERIES OF FRIENDLY MESSAGES TO WASNINGTON "“x How FAR Can You See Ahead? A Day? Are you one of those who “long for” a little vacation trip, plan it and THEN . .. the day before leaving realize that you cannot go, be- cause you haven't the necessary money? are many people like that! But you don't HAVE to be one of them. Open a savings account how- ever small; add a little to it each week or payday. When the time comes for a little recreation, a lit- tle rest in a cool, quiet place . . . all you have to There Learn w-hat a difference BENZOL makes! For veans thousands of metorists willingly paid a 5¢ premium for Betholine—the highest premium of any " motor fuel.. Why? Because Betholine is blended with Benzel. Because -Benxol is the highest-priced ingredient weed in any motor fuel. Because Betholine proved to these motorists—by ‘performance in their own cars— that it was well worth 5¢ extra. Now the: premium is reduced 40%. Now this same famous ‘Bensol: Blend is only 3¢ more than ordinary gasolines. And what'a whale of a difference those 3¢ make in motor performance: and motor repair savings. Try:a tankful: Léarn what & difference Renol makes. up,'fi’itk