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UNIVERSITY DAILY KANSAN, LAWRENCE, KANSAS
MONDAY, SEPT. 20, 1948
The Editorial Page-
Wet Or Dry?
The usually lively question of liquor is due to come before Kansas voters in a few weeks. So far the campaign has been rather dull, but it is sure to warm up soon. At one time during the summer the "Temperance Tornado" showed promise of becoming the spark to set off the prohibition fuse, but it fizzled out.
For college students the question of repeal is even more vital than for most voters. For many years, peddling hootch has replaced selling magazines as the favorite way to work your way through college in Kansas.
Left to personal taste, most college men would probably go for repeal. A slug of bourbon before a final has always been considered the best way to chase away an "F."
Those dreamers who believe repeal will open up a new field of business in Kansas should come back to reality. Have you considered the capital invest in license, building, and merchandize which will be required to set yourself up as a whiskey merchant? The cost is far beyond the reach of a young man fresh out of college.
For all practical purposes the old American success story of the young man who starts in business on a shoestring and ends up a millionaire has become a fairy tale. About the only business which is still open to the enterprising individual with a college education is bootlegging. All you need to start is a suitcase, a bus ticket to Kansas City, and credit with a liquor dealer. From that modest beginning you can develop into a wealthy, influential, and respected citizen of Kansas.
Editors note: Editorials in the University Daily Kansan are written by staff members and students in the William Allen White School of Journalism. All opinions expressed on this page are the personal views of the writers and do not represent the position of the University Daily Kansan, the journalism faculty, or the University administration.
If you are one of those students who are going to vote wet, think it over. You may be cutting out your last chance for fame and fortune. —J.LR.
Editorials by staff members will be signed with the writer's initials. Editorials by journalism students will be signed with the writer's name.
Gov. Earl Warren has promised farmers that the Republicans will work for continued high prices for farm products if the Dewey-Warren ticket wins in November.
We suppose this means that an election victory will mean that all loyal Republicans will be expected to eat more food to help Governor Warren keep his promise.
On the other hand, a Truman victory might turn 1949 into a "year of the great diet."
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Credit Rules Start Today
Washington, Sept. 29—(UP)—Government controls on installment buying went into effect today.
To buy a new or used car from now on, you'll have to lay at least one-third cash on the line. And the balance must be paid in 15 months, unless it's more than $1,000. In that case, 18 months.
For refrigerators, washing machines, radios, television sets, vacuum cleaners, rugs, furniture, sewing machines, and many other home furnishings,$ the minimum down payment is one-fifth of the sales price. Again the limit is 15 monthly installments.
The credit restrictions are intend to help fight inflation. They were authorized at the extra session of congress this summer, and will expire next June 30 unless a new law is passed extending the time.
The idea behind the controls is that over-expansion of credit is an important factor in turning booms into busts. Through installment buying, economists say, persons mortgage their future income, resulting in too much demand now, and too little later on.
The federal reserve board drafted the specific rules, which represent a slight modification of the wartime credit curbs which lapsed the past Nov. 1. The new controls do not affect regular monthly charge accounts, which were regulated in the wartime rules.
Also exempt from the present "regulation W" are single payment loans from banks, as well as installment-payment loans which are used to pay medical bills, funeral expenses, or similar emergency needs. No debt of more than $5,000 is under control.
At present, Americans are in debt about 7 billion, 250 million dollars for goods bought "on time." That is an all-time high, and is about 2 billion, 500 million more than the pre-war peak.
Credit controls were the only part of President Trump's eight point anti-inflation program which got the nod from Republican leaders of congress at the extra session.
Read the Daily Kansan daily.
Allies See Progress In Japanese Reform
"The Allies have been successful in their efforts to rehabilitate the laws and government of Japan in terms of the common interest," said Prof. James B. Smith of the School of Law who just returned from a year in Japan.
Professor Smith flew to Japan in June 1947 to assume his duties as general counsel at the general headquarters of the Far East command. He has traveled over all of Japan and Korea and parts of China.
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Managing Editor... Wallace W. Abbey
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Asst. City Editor... Robert Newman
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Richard Bartlett
Sports Editor... Anne Murphy
Society Editor... Mary Lou Foley
Business Mgr... Paul Warner
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Asst. Circ. Mgr... Ruth Clayton
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Tryouts for the University Players, dramatic group, will be held at 7 p.m. tonight and at 3 p.m. tomorrow at Green hall.
- New well-lighted range-open every afternoon at 4:30; 2:30 on Sat. and Sunday-evenings from 7:30.
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