a, ll ' ■ . . ■-
PAGE FOUR
Benefits Under Protection Plans Reach
HI Bita Yearly Js Big tame Factor
Hi ' » *
The rising He w of benefits
paid to millions of American in
dividuals and families under our
Jar-reaching system of personal
protection programs has reached
' a record level of S4O billions a
year—close to SBOO millions a
* week on the average—from pri
vate and public plans combined.
Over recent years these pay
ments have been the fastest
growing section of the individual
income stream. They are now
equal to practically half the na
tion’s entire yearly food bill,
which totaled $Bl billions in the
U. S. Department of Commerce
consumer spending tabulation for i
1061.
Big Role of Life Insurance
Over $3 out of every $lO of
the benefit total—sl2Va billions
in all last year—came from life
insurance programs, providing
an outstanding example of what
the people can achieve by their
own efforts in making voluntary
provision to meet the basic con
tingencies of life and their eco-1
l mic impact on themselves and |
cn their dependents.
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you and to ißose clear lo you at this Yuleti Je.
J EDENTON MOTOR CO.
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The S4O billion total of bene
fit payments was attained in
1961 with a record increase of
$4.c 2 billions over the year be
fore, according to data compiled
from Government and private j
sources. It figures out to the
equivalent of $1 out of every $d
of the public’s disposable person
al income. This proportion is
double that of the comparable
ratio at the beginning of the
Fifties, underscoring the growth
j performance of' benefit payments
over the past decade.
Thus personal protection pro
grams have become one of the
major stabilizing forces in the
economy in the magnitude at
tained by their payout to the
public and in the tremendous
breadth of their coverage of the
population. This provides an in
sight -into the strength of per
sonal income and its resistance
to recessionary influences in re
cent years. Beyond that, these
programs have become one of
| the nation’s major pools of funds
| for productive and social capital,;
■ and hence a growth-promoting
rwt CHOW A W HER ALP. EPEWTOW, WORTH CAROLINA, TWTJHSPAT. DECEMBER 20. 1962.
I v'ipY-
i .
INDESTRI’CTIBLE-—lt s old. but still The battery never tails and the tires never
go flat This 1925 Chicago truck used daily by workers at a St. Louis, Mo., suburb has
no battery. Tires are solid rubber. No body rust because the body is made of wood.
factor of the first order.
Retirement in Lead
The public and private per- j
sonal protection' programs on
, which this analysis is based do
not include unemployment insur- j
ance nor public assistance pay- j
ments. Neither do they take in- j
to account the flow of personal j
income from accumulated sav
ings and investments of individ-!
uals in such areas as savings ac- I
counts, U- S. Savings Bonds, sav- 1
ings and loan associations, real
estate, and corporate securities. I
The largest single block of
benefit payments under the peo-'
pie’s protection programs comes
from public and private pension |
and retirement plans. The total
here added up to just under sl4
billions in 1961, or,more than
a third of the year’s overall 1
benefit payments. The predomi
nant part of the working popu-,
lation is now covered under pub
lic and private retirement pro- 1
grams, and the latest figures’
show that more than 8 million j
persons are now on the pension 1
rolls.
Reflecting liberalization of
benefits and extension of cov
erage by legislative action in re
cent years, the Social Security
System is the source of nearly
two-thirds of all retirement bene- j
fits. The OASDI total here top- j
ped $9 billions last year. Nearly!
$3 billions more were paid under |
a variety of other publicly-spon-1
sored programs, such as State
and local plans, Federal civil
service. Railroad retirement, and
veterans’ pensions. Payments
under private pension and re- j
tirement programs, insured and i
non-insured combined, came to
nearly $2 billions last year and
are now five times what they
were in 1950. Coverage under
private plans has increased rap
idly as well,, with an enrollment
that now comprises nearly half
nicoßps
GET ONE FREE WITH
EVERY TEN PURCHASED
I of all workers in commerce and
I industry.
Personal and Family Protection
Benefit payments under all life
insurance programs added up to
sl2h> billions in 1961, just un
; der a third of the entire income
; flow from personal protection
programs during the year. The
| legal reserve life insurance com
| panies were the source of the
dominant part of this sum—sll.6
billions or more than 90 cents
of every dollar.
j The life company benefit pay
-1 ments last year included $2%
billions under accident, and
i health protection programs, an i
all-time high in this respect, i
1
.
...
Here's wls.ung you
A HAPPY I
HEARTY JL I
MERRY pQR ;
I CHRISTMAS |
• ;■
BUNCH'S AUTO PARTS |
'
Life companies have long play
j ed a major role in the rapidly
: growing accident and health
! field, which now provides pro
i■ lection to the greater part of the
i population including more than
half of those 65 and. over. Total
: accident and health benefits paid
|by all insurers in 1961 exceed
jed $6 V 4 billions, practically five
times the comparable figure in
1950.
Os the S4O billions in benefit
payments under personal protec
| tion programs last year, more
than $22 billions came from
plans under Government aus
pices. The biggest single ele
! ment here is the OASDI program
• which alone contributed nearly'
! three-fifths of the benefits paid
by publicly-sponsored plans.
.Frikly Speaking j
By FRANK ROBERTS
To capture the story of Christ
inas completely and in all its,
beauty and convey it to all peo
, pies, a Santa Fe, New Mexico, ]
; art collector boasts a fabulous |
display of religious folk art from
20 natipns.
The collection of 55-year-old
Alexander Girard, an architect j
and designer, numbers more than j
2,000 pieces and now is on ex- \
hibit in the Nelson Gafllery of
Art in Kansas City.
Much of the folk art has been
collected during the past two
s'ears, although some of it has
been in Girard’s possession for as
long as 30 years. Entitled “The
Nativity, ’’ the exhibit consists
mainly of simple pieces carved or
molded by unpretentious work
men. 'There are 170 separate Na
tivity scenes, made of many
things—pottery, wood, cloth, wax,
paper, nuts, stone, straw and
even bread.
In Girard's view, the image is
the most direct means of com
munication. He says the sim
Merry Christmas
J m | and a
1 Season's Greetings =#*
Just remember
To drive with care! & _j|
*• ELLIOTT OIL COMPANY
EDENTON, N. C.
j
1 :: J ,
«:
t:
#; Straight from our house to you comes this
(K
* message with hearty good wishes for a
Ji Merry Christmas.,
c-,
t;
Si If we had the magic power of good old
K , . 1 1
jj St. Nick to be everywhere at the same
J time, we could say it in person. But our
thoughts at least can come to you with
all the good things that go toward making ’
each Holiday Season one of happy
| memories. Jffj
I ' ‘ r K-'-l
I '
K /
I —f p
[pie decorations of joy and faith
by craftsmen of many lands,
while varying greatly, tell a
similar story of Christmas'— a
story of what ..Girard describes
as one depicting the “spiritual
closeness of all mankind”.
Distinctive settings were con
structed by Girard for his dis
play. For instance, the 170
scenes of the Nativity are in an
adobe-like structure on the main
floor of the i gallery. In the een
| ter is a tiered sand garden con
taining hundreds of the figures.
Recessed show windows of vary
ing size containing numerous
j other Nativity scenes line the
j walls. "The New Mexico man;
I used lighting, color and superb
stagings to emphasize the simple
splendor of the delicate folk fig
ures. Acoustics also had to be
taken into consideration because
special musical effects are em
ployed to provide the mood for
the Bethlehem-like area.
A number of odd problems
were encountered in setting up
the display. For instance, ade-j
quate lighting was needed for aj
group of,wax figures, but the]
intense heat posed a dangerous
threat. To overcome this prob
lem, a 300-watt bulb was placed
several feet below the scene in
such a way that it properly, re
flected light and still did not.
heat the exhibit. v
One unit made of bread and
covered'-with icing required
eial qhemical treatment to prr -If
vide lasting' qualities. Sponso - '
mg the display in Kansas Cit r
is businessman Joyce Hall. M .
Hall is chairipan of the pepple
to-people program which spres-M?'
es that world peace cipi be
achieved through understanding
among nations. The Girard col
lection is for the benefit of the
people-to-people program. V |
Girard’s own interest ip art
dates back to his childhood.
Through the years he .has col
lected not only folk art b]it
other items he regards
as unique or artistic. Near his
Santa Fe home, Girard has an
80-foot storehouse holdipg the
many items he has collected.
The New Mexico man believes
he inherited his tendency to col?
led art. He says his father also
did considerable collecting and
describes his grandfather as “vir- f
tually a pack rat”.
'Closing Thought: Warm and
I Happy Christmas Geetings To.
You and Yours.- - —.
—. r
Poets lose half the praise they
should have- got,
Cculd it be known what they
discreetly blot.
‘ —Waller, .t