Newspapers / The Chowan Herald (Edenton, … / Nov. 27, 1958, edition 1 / Page 3
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Institute’s 20th Anniversary Points Up Dramatic Events In Nation Over Last Two Decades The Institute of Life Insurance i will mark the 20th year of its | founding at its annual meeting next month. This milestone in the Institute’s career points up .'he dramatic changes and events of the last two decades, and the extraordinary progress, social as well as economic, that has taken place. , On the international scene, it was a period dominated by war and “cold” war throughout. On the domestic front, it was a period of unparalleled accomplishments for the nation and for the people in production and employment, in earning power and living stand ards, in savings and investment, and in growth of protection for the individual and family against the economic impact of death, dis ability and retirement. Tht Inflation Problem But progress has not been a one-way street. Accompanying the accomplishments are a num ber of disturbing developments which threaten to mar the prom ise of the future. Chief among these is the growth of Big Gov ernment highlighted by a near chronic inability to balance its budget and keep spending within receipts despite a record tax take from the people and from busi ness and industry. And intimate ly related to the course of Gov ernment finances is the problem of inflation, which has halved the dollar’s decades and which is threatening further inroads unless curbed. The imprint of the depression of the Thirties was still widely apparent when the first meeting of the Institute was held in 1939. It is just the reverse today, with the economy heading for new records in production after repeat ed demonstrations of its vitality in the manner in which it weath ered the three readjustments of the last decade with only brief pauses in its forward stride. For example, total economic ac tivity as measured by the £ross national product was only s9l bil lions in 1939. The total reached $440 billions' in the third quarter, nearly fives times as much. An equally great gain is being shown by aggregate personal income, which has passed the $350 billion mark as against less than $73 bil lions two decades ago. Even ad ■ . ■ I' ! ■ ' 1 < 1 «MWW ■MW’*** » 1 ONLY THREE DAYS LEFT To Save Bid-A- Bucks .. • Buy Now And Be Ready For The Auction Saturday, November 29th! SPECIAL FAMOUS BLACK AND DECKER TOOLS! 7y4.iN. SAW regular NOW *69.95 6>/ 2 .in. saw rehear NOW *54.95 %-IN. DRILL Regular NOW *31.95 Va-IN. DRILL Regular NOW JPJ9.95 V4-IN. DRILL KIT regular NOW * 2 4.95 REMEMBER You Receive Bid-A-Bucks for Every Cash Transaction Including Payment oh Accounts As Well As Cash Sales. M. G. Brown Co., Inc. LUMBER - HARDWARE - MILL WORK - BUILDING MATERIAL fl Phone 2135 v Edenton, N. C. justed for price changes in the period, the gains have been great. In the last two decades, the eco nomy has seen the creation of 20 million new jobs, the construc tion of nearly 17 million new homes, and capita! investment of more than S3OO billions by busi ness and industry. Big Growth of Protection. On the front of personal protec tion, life insurance in force has increased to around $490 billions, over four times the total of sll2 billions in 1939. The people’s ac cumulated savings in life insur ance and other thrift institutions has grown from $56 billions to $275 billions in the 20-year period. As against only a minority in 1939, private and public pension and retirement programs now cover about nine out of every 10 in the working population. Pri vate programs alone, insured and non-insured combined, have more than 17 Vi million active and re tired workers on their rolls, with more than $34% billions of assets and reserves accumulated behind these plans to guaranty their ful fillment. And the great majority of the population is now covered by one or more forms of health protection and receiving annual benefits of more than $4 billions a year toward hospital and medical care bills. But in the current fiscal year the Federal Government is ex pected to spend more than $79 billions exclusive of its trust fund operations, practically nine times thfe comparrable budget expendi tures in 1939. Its receipts have risen from $5 billions to an esti mated $67 billions, or more than 13 times. And its debt has grown from S4O billions in 1939 to more than S2BO billions currently, or over seven times. These increases dwarf the gains elsewhere in the economy. With this, spending by State and local government has expanded some four times in the 1939-58 period, with the result that total govern ment spending (Federal, State and Local combined) now repre sents over a fifth of gross national i product as against a seventh in 1939, Threat to the Future Indicative of the strength and persistence of inflationary pres ' sures, the last year has witness THE CHOWAN HERALD, EDENTON, WORTH CAROLINA, THURSDAY NOVEMBER 27, 1958. r - - - - % ! 4-H CLUB MEMBERS (Residence)' Percent Increase! * .. o 1957 0ver I ; T °tal ‘ ? |na 2,155,952. 2,164,294 *‘ 2o, ‘ 4B [ J9S4 1956 J Members 9 , *?. —■— I Total Members I 4.6 1.7 J / ... I 1,388,515 1>344456 >,315.261 Farm [ I Farm k 1,395,110 944% 62.1% 59.7% "5.7 2.2 ( I 66.3% ' 1 1 | j —v.. i • —♦- • Rural Nonfarm 1 ^ 24 f 22.5 6.1 | LW™ i 435,966 23.3% 24 3 % , Norrfarm 9 20.7% 1/0 1* I Jrhnn k 273,711 290,788 316,369 3 fh 975 2g 2 ! Urban ► 13 ; 0 o /o 13 J so /o i4.e% ie.o% 28 6 114 j The urban or “city” 4-H Club Is no longer’an exception in Ex tension work, according to sta tistics released by the USDA. The number of 4-H’ers living in urban areas has increased more than 28 percent since 1954. Coun try cousins are fast becoming city folks, while the distinction between farm and city boys and girls is virtually non-existent. Proof of these changing times and people can be found during the National 4-H Club Congress in Chicago where approximately 1,300 youth assemble annually. The date this year is Nov. 30 to Dec. 4. These future citizens come from all parts of the United States, Alaska, Hawaii, and Puerto Rico. All are members of local 4-H clubs, and all have achieved top atate rating in a ed the paradox of a significant rise in living costs in the face of a widespread business readjust ment. This has no comparable precedent in our economic rec ords. The recent rise in living costs on top of the trend since’ 1939 has brought a 52 centj drop in the dollar’s buying power in the last 20 years. Here is the major threat to economic stability and sound future progress. The life insurance business through the Institute of Life In surance has a long and consistent record of fighting inflation, begin ning with cooperation in wartime economic stabilization activities. Over the last 18 months, the Insti tute in its advertising program an dother informational activities has warned the American people of the strength of the continuing inflation threat and urged that ac tice be taken to curb the trend. The Institute is currently urging the need of a national policy for a stable dollar, comparable to the declaration for maximunt employ- specific 4-H award program. They represent the 2,200.000 rural and urban 4-H’ers who con tinually strive to “make the best better.” Those who are selected each year by the State 4-H office to attend the National Congress, have accomplished just that: These talented teenagers tra vel by train, plane, and bus to reach the Windy City where they will join their fellow 4-H’ers and adult leaders in a week of new and interesting adventures. Many business firms and pri vate citizens cooperate with the National Committee on Boys and Girls Club Work and the Exten sion Service to make the Con gress possible. Not only are the trips paid for, but other valuable awards are provided for state and county 4-H winners. College scholarships will be presented to ment, production and purchasing power in the Employment Act of 1946. In this campaign, the In stitute is taking direct issue with the inflationary psychology bred by the concept that a “little” in flation is the price that must be paid for prosperity and high em ployment. Such a concept is un tenable and without historical ba sis in fact, the Institute declares. A LOW CREATURE Man is but a worm. He comes along, wiggles about a bit, then some chicken gets him. The Walnut (Iowa) Bureau. with straps or strapless NEW PERMALIFT 'DOUBLE DATE' WITH MIRACULOUS "NEVERIDE” BAND The only two way bra that stays in place always li| ra# ; ■ 1 **” IIW>IU> * f W ”* and security of a regular bra. Ju*t un tops of tha two-way cup*. Miraculous "Navartda” olattfa diaphragm , band hup* yaw firmly and pantly, anchor- Contour cups give you a full, ropndod, OOtwrgl buitUnO, inp your bra Mfuroty la plaaa always. and firm, lovely uplift. CAN’T SHIFT OH SUOE-FVFH! Night and day—this is the one! You’ve just dis- Wear it as a regular bra—then, Presto-Chango! covered the only bra ever designed that comfortably you've got a lovely strapless. Come in and try a leads a double fa»R»n n life and supports you in the Perma*lift* “Double Date” Bra today. Style #75 manner to which you’d love to become accustomed. Nylon sheer—so.oo. Style #l7s— Fine cotton—so.oo. THE JILL SHOPPE •mh v.a.r*.om Edenton, N. C. 200 national champions. Among the 4-H award donors are: Mrs. Charles R. Walgreen, Chicago: Standard Brands Inc., Arcadian Products Dept, of Allied. Chemical Corp., American Forest Products Industries, Wm. Wrigley Jr. Co., Pure Oil Co., Homelite, a Division of Textron, Inc., Olin Mathiesou Chemical COrp., Armour & Co., Santa Pa Railway System. Also the Chicago Board of Trade. Burlington Railroad, Mil waukee Road, Chicago & North Western Railway, Rock Island Railroad, Cities Service Oil Co., Cudahy Packing Co., Conrad Hil ton Hotel, Illinois Central Rail road, Elgin National Watch Co., Massey-Ferguson Inc., California- Spray Chemical Corp., Colgate- Palmolive Co, and Americas Oil Co. Ice Capades Appear In Raleigh Dec. 9-13 “Ice Capades of 1959,” billed as “The Greatest Show on Ice,” will present seven performances in the j William Neal Reynolds Coliseurh at North Carolina State College 1 December 9-13. The 2 la-hour production will open its State College engage ment with a full-length show Tuesday, December 9, at 8:30 P. M. Evening performances will be 1 staged Tuesday, December 9, through Saturday, December 13, \ at 8:30 each night. Matinees are! scheduled for Friday, December 12, at 3:30 and Saturday, Decem ber 13, at 2:30 o'clock. (■JlllllllllllltllllllMlMllll 11l I Hill III! •II HIM 111 111 Hill mil HUM I lilt Ml 1 1111111111111 MM 1111 M 111 MMI 111 M HIM MM IMIMM I 111 111111 >llll till 111 I 111 I Mill I 111111111 l Mill IIIIIIIH Ml I fllli*» || | THANKSGIVING* Treat the family to one of our mouth-watering Thanksgiving Din- They’re home-style good and n generous without any home-style n work ... a fact that Mom is sure to ffi / /""n Ls appreciate. I’very one will like our Hi ft J courteous. 1 riendly service; our con- H vL» genial atmosphere. Modest prices, S ROAST TURKEY | X'. Dessert Homemade Pies IS EDENTON RESTAURANT |£f Mrs. W. L. Boswell, Prop. H [SI MMiMHiii»«iM«inMMiMmimininiiiiiiuMiumni‘<HMiniiiiiiiiiiiiiuiiiiiimiiimiiiiiiiii»nMiiMiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiHMniniiiiiiiuiiiiiiiiiiiiiiiiiiiimiiiiiiiimiiniii Elementary and high school I ; children will be admitted at half price to the Friday matinee. Seats are available in the State College Coliseum for approxi- PAGE THREE I—SECTION ONE II mate’y 70,000 people during the : five-day stand of Ice Capades iit Raleigh. TRY A HERALD CLASSIFIED
The Chowan Herald (Edenton, N.C.)
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Nov. 27, 1958, edition 1
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