LeTourneau Tech's NOW, Volume 1, Number 33, October 1947 Page: 6
This periodical is part of the collection entitled: LeTourneau University Archives and was provided to The Portal to Texas History by the LeTourneau University Margaret Estes Library.
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"He's a millionaire," in America
means that a man is wealthy, because
he owns at least one million dollars.
But if he has one million dollars, how
wealthy is he? In 1939 one million
dollars would buy 10,000,000 ham-
burgers on buns ready to eat. In 1947
one million dollars would buy only
5,000,000 hamburgers. In 1939 in lo-
calities where building costs were
about average, one million dollars
would buy about 200 small five-room
homes. In 1947 one million dollars
would purchase only about 100 such
homes.
Almost everyone will agree that the
dollar is a medium of exchange, but
few seem to grasp the truth that the
fewer goods we have to exchange the
less the dollar is worth.
Although it is common practice to
express wealth in dollars, the riches
of this world do not consist of dollars,
nor of gold, silver or precious stones.
Real wealth is the cattle we can con-
vert into hamburgers, the crops we
can eat and wear and live in. It is
the wood and concrete and steel we
can make into houses, factories, public
buildings. Real wealth is the ma-
chinery with which we can produce
more machinery that will save us
back-bending toil. Such things as
these are true wealth.
People, somebody said, are funnier
than anybody. They are so eager for
dollars. The boys on Maxwell Street,
State Street and Wall Street all think
the same: they all view cash in hand
or in the bank as wealth. They don't
seem to understand that dollars, be
they paper, silver or gold, are only
chips with which to trade what we
have for what we need.. Dollars are
but convenient mediums for expedit-
ing industry in the production of real
wealth.
What could be funnier than an in-
dividual or a corporation scurrying
around to dispose of sound usable ma-
terials and merchandise that are
rapidly appreciating in value in order
to buy dollars that are as rapidly
declining? It seems to me that there
is a place for some long-sighted finan-
ciers who are willing to invest in
inventories.The United States is not the world's
wealthiest nation because we have
most of the mined and minted gold
stored away. It is the other way
around: we bought and dug the gold
because we have the wealth of pro-
ductive machinery.
But all the worldly wealth is trans-
itory. Peace in a man's heart, the
knowledge of sins forgiven through
the cross of Christ, and being on good
terms with God alone constitute
wealth that will last when this world
is gone and when we are gone from
this world.
And now I must conclude on an
old familiar note: Men can have what
men produce; no more, no less. Fixing
prices or fixing wages or hoarding gold
or soaking the rich or grinding the
poor or any other panacea will never
make a nation rich. Producing will,
improving will, working will.
The more we produce the more our
dollars will buy. Take home pay isn't
half so important as take-home gro-
ceries.Opening Christian Camp
Near Little Rock, Ark.
LeTourneau Foundation is open-
ing a year-round Christian camp this
winter at Pine Lake, 17 miles south
of Little Rock, Arkansas, on a 444-
acre property which has been used
successively by the Arkansas Shrine
as a camp, Dr. John R. Brinkley as
a hospital, and the Baptist State Hos-
pital as a convalescent home.
The purchase, financed with funds
secured from the sale of Bethany
Camp at Winona Lake, Indiana, in-
cludes a large stone building, four
modern houses, a. large administra-
tion building, several smaller struc-
tures, barns, out buildings, an 18-
hole golf course, a small lake and fa-
cilities for various forms of recreation.
Pine Lake will be used in the sum-
mer time as a Christian camp for
boys and girls in age groups ranging
from 10 to 25 years old. During the
remainder of the year it will be oper-
ated for the rehabilitation of boys
12 to 18 years of age.
Mrs. R. G. LeTourneau, who is
preparing to open the camp this win-
ter, says that boys "who have gone
off the beam" will be received into
the camp for a program of Bible edu-
cation designed to bring them to a
personal knowledge of Jesus Christ
as Lord, coupled with work, play and
study under competent, understand-
ing teachers.ia
."*
KITCHEN CHORUS-After many hours spent in rehearsals, the cafeteria
kitchen crew of LeTourneau Tech presented a program of spirituals at chapel
service Wednesday, October 1. They were well received and immediately
booked for two more chapel appearances.
At rehearsal, led by Olgia Smith, center, who is director and first tenor,
the chorus members are, from left, Andrew Coleman, bass, Timothy Clemons,
soprano, Carol Dedmon, second tenor, Swonzie Coleman, baritone, Willie
Lenear, second tenor, Timothy Hurd, baritone, Cleveland Long, baritone,
Willie Shaw, baritone, John W. Ross, soprano.V
.,4
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LeTourneau Technical Institute. LeTourneau Tech's NOW, Volume 1, Number 33, October 1947, periodical, October 1947; Longview, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1526565/m1/6/?rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting LeTourneau University Margaret Estes Library.