Money Facts And Fancies
New York (NAPS) - Did
you know that ? woman's
picture at one time appeared
on a dollar bill? That there
were once three-dollar bills?
That money al one time
could be eaten? Or that in
South Carolina they once had
legal tender you could drink?
Theee are only a few of
the many money innovations
for which the creators of
early currency deserve credit.
The woman's picture, for
example, came into view on a
one-dollar 1854 bank note
from the Delaware City Bank
of the Kama* Territory.
In 1856, also in Kansas,
there were three-dollar bills!
The notes featured pictures
of three cherubs!
Salt, valuable as a food
preservative, was scarce, dur
able, portable and easy to
divide. Early Roman soldiers,
whose Latin word for salt was
"sal," received a regular salt
allowance (whence our word,
"alary"), and African slaves
were once sold for their
weight in this precious con
diment. Thus the expression
"worth his salt."
Liquors and other spirits
have also served as money;
AUTOMATIC
TRANSMISSION
REPAIR
HEADQUARTERS
EXPERT
REPAIR
' SERVICE
ON ALL
KINDS OF
AUTOMATIC TRANSMISSIONS
* MOST PARTS
IN STOCK FOR
PROMPT EFFICIENT
GUARANTEED SERVICE
PETE SMITH'S
GARAGE
Rt. 3, Louisburg, N. C.
Phone 496-4983
beer was partial wages for
miners in 19th century Eng
land; a century before, in
South Carolina, rum was legal
tender!
Tea, a common if blander
beverage money, was used for
centuries in the Far East. For
ease in handling, it was often
shaped into bricks.
Tobacco automatically
meant money to our southern
colonists during the 17th and
18th centuries. In time, to
bacco warehouse receipts
were used; but originally the
actual leaves circulated!
Over the centuries, money
has been the subject of
memorable quotations. 'To
have money is a fear; not to
have it a grief," said English
poet George Herbert in 1651.
According to Benjamin
Franklin in 1735, "Nothing
but money is sweeter than
honey."
In 1706, Jonathan Swift
wrote: "No man will take
counsel, but every man will
take money: therefore money
is better than counsel." And
an old Irish proverb had it
that "a heavy purse makes a
light heart."
We are indebted to money
for several everyday expres
sions such as "getting your
money's worth," "the root of
all evil," "filthy lucre,"
"money talks," "putting your
money where your mouth
is," and "putting your two
cents in."
What is more, there are
local sayings relating to
money in different countries
with differing monetary
units. American counterparts
of these terms include "pen
ny pincher" and "dollars to
doughnuts."
To coin an expression,
banks have become "money
splendored things," but few
depositors realize how much
banking has changed. In the
ancient world, instead of re
NOTICE OF SALE OF REAL ESTATE FOR TAXES
(or 1968
TOWN OF YOUNGS VILLE, N. C.
Pursuant to an order of the Board of Town Commissioners,
for Town of Youngsville, N. C. and by law provided, I will sell
at public outcry to the highest bidder for cash at the Town
Hall Door, in Youngsville, N. C. beginning 12 o'clock noon,
DST., on 8 September 1969 the liens for 1968 taxes on the
Real Estate Property described below, and the amount which
la shown opposite the names of the taxpayers owing said taxes,
and which amounts do not include penalties and cost on the
property set forth as follows:
Elmo Bar ham, 1 Main St. V&AttW ,
E.C.M.1RR Street 17.90
W. V. Cook, 1 Nassau 27.07
Esther Green, 1 Main 21.45
Wade Harris & Marlie Choplin, 1 Persimmon St. 23.93
MoHie Perry, 1 South Youngsville 20.13
Mrs. C. L. Wrenn, 1 Main 3.96
Vernon Dunston Estate, 1 Nassau 8.08
Mary Or? Harris, 1 Cross St. 1.32
Matthew Jeffreys, Estate, 1 Pine 3.62
Will Harris, 1 South Youngsville 11.92
James Wilder, 1 Spivey 11.97
Cleveland WiUiamson, 1 Nassau 25.34
WUllam Winston, Estate, 1 Spring 1.32
This the 11th day of August 1969
J. A. Green, Tax Collector for the Town of Youngsville, N. C.
8A2.19.26; 9/2
Write away!
Write as many checks
as you please, Free!
(No service charge)
Just keep $100 or more in your
First-Citizens personal checking
account. Move today. Write away.
FIRST
crnzENS
fir BANK
? Write any number of regular personal checks without charge. ? No maintenance TH[ ^!oo hank with thc cm do pcopui
charge. ? No mailing charge. ? Detailed account statements mailed to .you monthly - ?mh> m***. o,^ cotmxunox
without charge.
In your own commercial bank, there are probably more
kinds of money than you realize, and In the future banks may
get to be money supermarkets, where customers can avail
themselves of noe-stop financial shopping.
ceiving interest on your sav
ings, you'd have hid to pay a
bank to keep your money
safe for you.
Perhaps the earliest Ameri
can "bankers" were gold
smiths and silversmiths. They
would accept coins for safe
keeping, and lend them to
qualified borrowers, and
sometimes exchange one kind
of currency for another. That
was it-no other services were
available.
In 1781, when a man
named Robert Morris tried to
organize the first modern
bank in America, he tried to
sell $400,000 worth of stock
in the company. All he could
raise was $70,000-17.5 cents
for each dollar he needed-but
he borrowed what he needed
from France, and made such
a name for himself that al
most any banker you visit
today will know his name.
He really started some
thing. Today there are nearly
14,000 commercial banks in
the U. S. They have deposits
of $432 billion-over 40 times
as much as all the gold in
Fort Knox-and people owe
them 264 billion (including.
probably, whatever you still
owe on the car). A large
commercial bank processes
well over a million different
checks every day, yet banking
may still be in its infancy
because of a new trend in the
industry - the formation of
one-bank holding companies.
A one-bank holding com
pany's main business is bank
ing, but it also owns other
companies that provide fi
nancial services related to
banking. For example, they
may lease heavy equipment,
sell insurance, provide family
budgeting advice, tax assise
tance and charge services for
family purchases.
The companies have been
formed because antiquated
laws have prevented banks
from providing new services
that their customers need.
Not surprisingly, competitors
who are not regulated by
banking laws have opposed
the entry of banks into areas
they'd like to keep for them
selves.
What one-bank holding
companies provide is the kind
of one-stop financial shop
ping that modern super
markets offer housewives for
their food and household
needs. In other words, they
are money supermarkets
where customers can get car
money, education money and
house money as well as help
with their budget, taxes and
investment and insurance
needs.
In the U. S., everyone
"knows" that the government
keeps "all the gold" at Fort
Knox, but actually, while
there is $10.8 billion in bul
lion at Fort Knox, more than
$13 billion In gold is stored in
New York City, where the
Federal Reserve Bank stores
it in a vault with walls of steel
and concrete ten feet thick.
(Free tours can be arranged
by writing Mr. Dave Fried
man, Federal Reserve Bank of
New York, 33 Liberty Street,
New York, N. Y. 10045. On
the tour, you get a chance to
see some of the gold.)
But the New York gold
doesn't belong to us. Amer
ica's is at Fort Knox. The
New York gold belongs to
120 diffstent foreign coun
tries.
You cant find this kind of
money growing on trees, but
another kind of money once
did! In 13th century China,
when under the rule of
Kublal Khan, the Chinese
produced the world's first
paper currency, printed on
paper made from the bark of
the mulberry tree.
In the South Pacific, island
tribes havt used the teeth of
porpoises, whales and tigers
as money. On the Isle of Yap,
huge coin -shaped stones with
a hole in the middle-far too
MALE FACTORY WORKER
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APPLY DIAZIT COMPANY. Inc.. YOUNGSVILLE.
heavy for one man to lift
serve a* currency. ('"I'm
sunk," a Yapper might have
to say if he tried moving his
money by canoe.)
But few people know how
an expression still used today
began with an unusual form
of payment in America's Wild
West. Then, many a man
would carry currency in the
form of a bag of gold dust.
He'd pay for things by allow
ing the seller to pick out one
or more pinches of dust. And
this is how we get the expres
sion, "How much can you
raise in a pinch?"
-ft SAVE THE CAN
XDlO AND KEEP
XJr/ AMER|CA
BEAUTIFUL
PLANTERS
Hanging planters not only
are attractive but they help
bring a touch of nature in
doors. No home should be
without one.
Materials: One Canada Dry
can for hanging planter and
two for the plaque planter.
12-inch metal chain. Thin wire
and 12 x 12 wire mesh.
Hanging Planter: With chisel
or rip type can opener, open
seam across back of can. Fig. 1.
With other can opener, cut lids
half-way around as shown fold
back as shown in Fig. 2. Use
shears to cut each side into V4
in. strips. Curl back each strip
*ith long nose pliers or curling
tool. Curl up center strip of
each lid to attach to chain for
hanging.
aa&w: i
Plaque Planter: Cut tops off
both cans. Punch holes on each
side of seam of each can as in
Fig. 3. Punch holes in sides of
cans and join together with
wire as shown in Fig. 4. With
wire looped through holes that
were made alongside seams,
attach cans off center, to lower
left portion of 1 2 x 1 2 piece of
wire mesh. Use half-inch or
one-inch mesh. L, ,4n; yfi
Nationwide Insurant tiy?:
"Guarantee your
child's insurability"
Nationwide'b new Fam
ily Plan guarantee s that
your child can get hia
own life insurance when
he'i 22, regardlest of
health. Call today.
W. H. "Jerry" Horton, Jr.
203 N. John Street
Tel. Gy6-3345, Louisburg, N.C.
Nationwide Lift Inuiranct Company
Noma Offlcat Columbus, Ohio
CARPET NEEDS
VISIT TAYLOR'S
FLOOR COVERING
SHOP
FEATURING
(?ikpi i
Mohawk
28 DIFFERENT
CARPET SAMPLbS
TO CHOOSE FROM.
PRICE FROM S3. OS
TO #17.85 SQ. YU.
CARPETS FOR HOMES
AND CHURCHES
FREE ESTIMATES
IM'ARDWAO
fURMITUfl
Farmers Use
Open Ditch Drainage
Photo shows ditch being dug on F. H. Witaon turn new
Franklin ton.
There is an increasing
number of farmers cutting
drainage ditches through their
field to drain wet spots or
areas. Often times, some of
our most fertile soil is not
producing it's maximum be
cause of flooding or lack of
drainage. These areas are us
ually found in pasture* or
abandomed cropland near
small streams or bottoms.
Drainage ditches are plan
ned and constructed to re
duce flooding and drain the
wet spots so the maximum
use can be made of the land.
This often making it possible
to get farm tractors and
equipment in ? the once be
fore ? wet areas.
The coat of the work
varies due to size of ditch
needed and area whan work
will be done. An average coat
is given below aa a guide only.
A ditch 3 feet deep, 3 feat
wide at bottom, and 12 feet
side at top, would coat appro
ximately $20.00 par 100 ft.
long. A ditch 41* feet deep, 3
feet wide at bottom, and 16
feet side at top, would coat
approximately $30.00 pet
100 foot long. Thia ditching
la usually done using dragline
equipment.
If you have such areas on
your farm, and are intweated,
contact the Soil Conservation
Service for planning aaab
tance.
THOMAS F. EAST
Attorney At Law
ANNOUNCES RELOCATION
OF
His Law Offices
FROM
PERRY BUILDING
TO nU <1 ivs
T07 MAIN STREET
L0UISBUR6, N. C.
(GROUND FLOOR - DIRECTLY IN
FRONT OF COURT HOUSE)
OFFICE PHONE: 496-4618
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