Newspapers / The Chowan Herald (Edenton, … / April 9, 1953, edition 1 / Page 11
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Higher Living Standard Reflected In Trend Os Savings As Well As Increase In Spending Even tihoqgh much of the national . agkatance has gone for war and d«- ■fefce over the last decade, the United States has given a practical demon stration of the dynamic effect of ris ing productivity in the way it has con tinued to Hft the living standards of the man .in the street. Over recent years, as the figures show, more Americans than ever be fore have enjoyed rising incomes, spent more for needs and wants, and saved more in life insurance and in other mediums of thrift. And it should be noted, too, they paid more in taxes to their Governments—Federal, state and local—than in. any previous time. This general advance! in living standards for the majority of the peo ple, so much of which is the result of expanded productivity, is apparent even when allowance is made for the growth in population and for the wide rise in prices over the last decade. The adjustment may make the gains less spectacular, but they are nonethe less substantial. Income Shows Steady Rise An insight into how this was achiev ed is provided by an analysis of data , compiled by the U. S'. (Department of Commerce showing the Steady upward trend of personal incomes from the beginning of World War H in 1939 to date, and what the people at large did with the increasing funds at their disposal from year toyehr. The high lights may be summarized as follows: , Total personal income has increased in every year except one out of the -last thirteen. The exception was in the brief recession of 1949, hut'even then the decline was small. The 1963 total of personal income amounted to more than $368 billions, as against less than $73 billions in 1939, an in crease of nearly fourfold. * •Consumer spending has increased in every year since 1939. There have, of course, been variations from year "to year, reflecting such factors as the scarcity or abundance of goods, and the impact of changing (domestic and international conditions on public psychology and individual buying im- Over all, however, the up ward trend in personal spending has been uninterrupted from 1939 to date. Goods and services bought by the peo ple in 1952 exceeded $216 billions, more than triple the pre-World War II figure. It is significant to note, in this con nection, that spending on hard goods has shown a greater.rate. 0 f gain since the end of the last war than consumer spending as a whole. This continued to be true even after wartime short ages had been satisfied. Wide owner ship of cars, television sets, home la bor-saving devices, and. other durables is a criterion! sos a 'people's living f% R%~-Sm IKENTUCKY |' M ( WHISKEY Q 4 . %Kj gfeV K| 1 tLENDCO AND BOTTLEO Bt * ■Jg B 9 SCHENLEY DISTILLERS. INC » FRANKFORT. KENTUCKY j!J;j K ■ J "* li ' ‘ s *gg^■ I^'mhlv . wggjr ■ .fa,,mtv **j.u£i. «N, U C« i> ' tyte ' l>i lm fc |. M fil'‘ 'Hl^illii‘'T^iiii l: f*i- i: ir'inrißitiiii'frrr -.•••*•-.• <. ’ .. Standards. The Trend of Savings Personal saving has pursued a more zigzag course than either total income or consumer spending. It .reached abnormally high levels during the last war, fell for a few years thereafter as goods came into supply, and then moved steadily upward in the last five years. Last year’s total of personal savings, as compiled by the 'Depart ment of Commerce,- aggregated $lB billions, some six and one-half times the 1939 savings figure. Savings have not only risen greatly in dollar amounts but in distribution of ownership as well. (For example, there are 24 million more owners of life-insurance today than there were at the beginning of the last war, and the total of insurance in force is about < two and one-half times as great. This trend in life insurance, which is paral leled in other savings, indicates the extent that the people have built up their personal protection and “nest eggs” in general to keep pace with their rising living Standards. On the employment front, more than 9% million persons, or over a sixth of the civilian working popu lation, were jobless in 1939. By con < trast, the nation has had full employ ment in recent years. As for taxes, they have shown the biggest increase of all. Personal tax es in 1952 added up to a record high of $34 billions, half as high again as the World War II peak and four teen times greater than the 1939 to tal. . Price and Population factors It must be recognized, of course, that the cost of living has nearly doubled in the last thirteen years, and also that the population has increased by approximately one-fifth. (However, the gain in average living standards is impressive even when these chang es are taken into account. "* Taking as on example the trend of consumer spending adjusted to dol lars of 1939 buying power, the figures show that total consumer spending in 1953 was more than half again as high as in the pre-World War TI year. Making a further adjustment for the population increase, consumer ex penditures in 1952 figure out to about HAD BOUT WITH FLYING SAUCER,"HE SAYS Amazing story of a Florida scout master who tells how he came upon a weird, dome-shaped craft that hov ered about the ground and spewed him with fire. One of many thrilling features in -the April 19th issue of THE AMERICAN WEEKLY Magazine in Colorgravure with the BALTIMORE SUNDAY AMERICAN "Order from Your Local Newsdealer THE CHOWAN HERALD, EDENTOV. N. CL. THURSDAY APRIL 9.1963. 1 ■ ... ' . in. i THE LATEST THING in postwar submarines with conventional power ! plants la the USS Tang. She is a gappy snorkel boat. Gappy means ; “greater underwater propulsion power.” The “y” is added for enphony. Hie snorkel is a breathing tube that enables the submarine to gulp air for her engines when cruising submerged. ! (Official U. S. Navy Photograph—3l9o99) - -- n rtori r» oaM-i n rifinon r~i i~i i~i i-inoni-ii-i S7OO for every man, woman and child in the country last year as against $515 per capita in 1939. Thus the real standard of living of the American people has risen by more than a third in the thirteen years from the beginning of World War II to date. Securities Concern Changes Its Name Announcement of a change in the corporate name of Kirchofer & Ar nold Associates, Inc., to Carolina Se curities Corporation is made by Glenn. E. Anderson, executive vice presi dent of the firm. No change in com pany policies, service or personnel is contemplated. The officers and em ployees of the company were first associated in the firm of Kirchofer & Arnold, Incorporated ,a firm which re tired from the retail securities busi ness in 1947. Since that time, Kir chofer & Arnold Associates, Inc, has KIDNEYS MUST-REMOVE EXCESSWASTE When kidney function slows down, many folks complain pf nagging backache, loss of pep and energy, headaches and dizziness. Don't suffer longer with these discomforts if reduced kidney function is getting you down —due to such common causes as stress and strain, over-exertion- or exposure to cold. Minor bladder irritations due to cold, dampness or wrong diet may cause getting up nights or frequent passages. Don't neglect your kidneys if these condi tions bother you. Try Doan's Pills—a mild diuretic. Used successfully by millions for over 50 years. While often otherwise caused, it's amazing how many times Doan's give happy relief from these discomforts—help the 15 miles of kidney tubes and filters flush out waste. Get Doan’s Pills coday! Doans Pills |r' f , - pf^. The Bel Air 4-Door Sedan (above) and the “Two-Ten" 2-Door Sedan (right)—two of 16 beautiful models In 3 great new series. Power Steering / It’s yours in Chevrolet for 1953 and w . , t _ . in no other low-priced carl Tou park ana steer with finger-tip ease; This wonderful new feature, optional on all models at l ' yet the familiar feel of the road Is still there. extra «* mar J s **L m ° st important advance in driver v " y convemence and safety smce the automatic transmission, Driving is easier—and safer than ever I which Chevrolet also introduced into its field. Power Steering makes steering virtually effortless on all * roads and at all speeds. It permits you to park, eyen in a tight space, with finger-tip ease. It cuts steering effort i |TTT»TIi M l Jm& approximately 80%; reduces driver fatigue; makes driv -1 ■ WM ing simpler, safer and more enjoyable than ever before. But come in! See and drive Chevrolet for 1953 with * UllUnWUnli® Power Steering and all its other exclusive advantages! Continuation of itcmdard aqulpmant and Mm at illuitratod h dependent MORI PIOPLE BUY CHEVROLET S THAN ANY OTHER CAR I on availability of mafrial. * B. B. H. MOTOR COMPANY . “YOUR FRIENDLY CHEVROLET DEALER” S. Broad and Oakum Streets , Edenton, N. C. been engaged in the business of under- j writing and distributing securities.;- Carolina Securities Corporation has its headquarters office in the Insurance Building, Raleigh, and branch offices in Charlotte anid New York City. “It was felt,” Anderson said, “that the new firm name will better identify our business of distributing investment se curities and financing private indus try mainly in the Carolinas and the SI * i As the comb and toothbrush - ‘ have become essential to daily v / I good grooming—so has telephone service become ' sential to daily good living. Dependable low cost telephone service is something you now accept naturally and that is just what we want j you to do. Norfolk & Carolina Tel. & Tel. Co. Elizabeth City Edenton Hertfor Manteo Sunbury southeastern States. The name is the : •only change made iri the business.” Continuing as representative in Edenton and Eastern North Carolina « is David M. Warren, who has been associated with the firm for several years. Favorable Reaction To Cut In Chrysler Models Public reaction to the price reduc tions of DeSoto, Plymouth and other Chrysler Corporation vehicles has been very favorable, reports Chowan Motor Company, DeSoto-IFlymouth dealership at West Water Street. “Customers are particularly grate ful that the Chrysler Corporation re duced prices at the start of the spring selling season rather than waiting un til the buying rush started to subside,” O. B. Perry pointed out. “Many people have also comment ed,” he added, “on the prompt action by the Chrysler Corporation in passing ■ along to consumers the savings made] possible by the higher production rates i • 1 which the Corporation has been able 5 to achieve following the removal of 1 government controls on prices and ma -3 terials. t “For my own part, I believe this 3 reduction in the prices of our new r Del Soto and Plymouth cars makes - them, more than ever, the top car - values of the year.” 2 Reductions in factory retail prices at PAGE ELEVEN factory, Detroit, Michigan, announced March 25 on the new DeSoto models ranged from sl4 to $177.30, while decreases on 1953 Plymouths ranged from $37.10 to $109.10. CHRISTIAN CHURCH SERVICES Services at the First Christian Church have been announced as fol lows by the pastor, the Rev. E. C. Alexander: Bible School, Sunday morning at 10 o'clock; morning service at H o’clock; evening service at 7:30 o'clock. Wed nesday Evening Bible Class meets at 7:30 o’clock. Everyone is welcome to young people’s meeting at 6:30 P. M.; all services. Our great Way-shower,steadfast to the end in his obedience to God's laws, demonstrated for all time and peo pies the supremacy of good over evil and the superiority of Spirit ove matter. —'Mary Baker Eddy !L 1 DEPENDABILITY i ~ r ~^ M r ™ £ D*o-. I ,‘ 7.?"* THE great locks of the Pan ama Canal that will unerringly lift a huge dreadnought over a mountain range, are exam ples of dependability. They can be counted on not to fail in time of need. In time of need, we can be de pended upon to serve faithful ly. Our skill relieves you of all detail . .. and assures a cere mony of beauty and dignity. mu jjii I WILLIFORD PHONE 251 •EDENTON N.C THE HOME OFTHE ALBEMARLE MUTUAL BURIAL ASSOCIATION
The Chowan Herald (Edenton, N.C.)
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April 9, 1953, edition 1
11
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