Word: gresham
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...Williams' points was disputed last week by another new book on the British press, Randolph Churchill's What I Said About the Press, a collection of his splenetic attacks on the British press lords (TIME, Dec. 26,1955). Churchill argues bitterly that a kind of journalistic Gresham's Law is at work; that honest newspapering is being drowned in a "deep and lush and fast-flowing river of pornography and crime." Williams disagrees. The average tabloid, says he, offers "neither worse nor better'' entertainment than many movies, TV shows or books; the "whole idea...
...unabashed efforts to please at any price. Such is Omnibus' charter. So far it has spent some $8,900,000 of Ford Foundation funds in its five seasons (about 65% recouped from sponsors) in the praiseworthy hope that diligence and quality will some day reverse Gresham's law so that the good will drive out the cheap...
...Ackerman became dean in 1931, turned the school into a one-year graduate institution with as stiff requirements and standards as any in the country. He helped found the American Press Institute and the Maria Moors Cabot awards for journalists who serve inter-American understanding. His own Gresham's Law: in a free press, "good news, meaning truthful information, always has and always will drive bad news, meaning false information, out of circulation...
...rednecked goodness of the hill farms is posed against the black-soil, black-souled wickedness of the valley. Indeed the valley, Fate Laird is forced to decide in the end, is "like a pretty woman loaded with syphilis." The chief disease carrier is a dropsical old shark called Book Gresham, the tag end of Tuxahatchie's first family. In defiance of the 13th Amendment, Book Gresham keeps a slave called Bodoc whom he won in a crap game. Symbolically, Book is impotent, apparently the result of one of those odd Southern boyhood experiences (with a Negro woman "musty like...
...Book Gresham's evil power is opposed by Brother Cox, the "webbed faced" preacher who tries to close the valley honky-tonk but loses his "holy war agin sin" when Book frames him for "a sight of carrying-on'' with a no-good girl. Fate Laird takes on too much when he gives Bodoc a job and takes the preacher's side against the courthouse-cathouse gang. Laird's son Clay shoots a mean deputy and is convicted of murder in Book Gresham's court. But in the end a sort of moral truce...