Newspapers / The Chowan Herald (Edenton, … / Aug. 6, 1959, edition 1 / Page 7
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SE SJT THE CHOWAN HERALD The House That Thrift Built Saving And Investment Is Driving Force In Steady Rising Economic Activity A clear-cut indication of the key role of savings and invest ment as the driving force in ris ing economic activity, and in na tional and individual progress, emerges from an analysis of U. S. Department of Commerce figures on the trend of gross national product over the years and the factors in its expansion. These figures show that invest ment-type expenditures by busi „ ness and industry, by the peo ple at large, and by government bodies added up to an extraor dinary total approaching a tril lion dollars for the current dec ade, from 1950 to date. T,he ag gregate for 1950 through 1958 figures out at 's92l billions, av eraging more than $llOO billions a year and representing 27 per cent of the gross national pro duct for the nine-year period as a whole. How Wealth Has Grown Included in this tremendous addition to the nation’s tangi wealth in such a short pe riod are hundreds of billions of dollars of new industrial pro duction and distribution facili ties, more than 10 million new homes, and a rising scale of in vestment in social capital goods, such as schools and roads, to meet the needs of a growing country and an expanding pop ulation. V In essence, this is the house that thrift built. It is the peo ple’s savings, channeled into the capital markets by thrift insti tutions, that have provided a llarge part of the credit and in vestment funds which have made 2-BEDROOM HOUSE FOR SALE Located Hobbs Acres I Only 3 Years Old * New 2-Car Garage REASON FOR SELLING OWNER LEAVING EDENTON Call 2213 /MM)/ NO DOWN PAYMENT WUI, V| 36 months to pay m Wmnm 34 YEARS IN ROCKY MOUNT We Sell Quality For Less Canvas and Alumiitum Awnings Storm Windows and Doors Carolina * ROCKY MOUNT. N. C. We Accept Collect Calls Night or Day Day Calls 6-8307 Night 2-6686—6-7479 • * Drive .Americans _No._l SuccessCar] RAMBLER’S f > ' Ks> - ? jtWU ■ i. SAVE sl3l TO $209 ON SEDANS, .* . SSOO less than the other 2 WM HARDTOPS— Based on manu- best-selling station wagon j PjMSfrK facturers’suggested prices for makes. Full 5-passengerroom. W \ comparable’s9models. Room UP TO $ 176 qn RESALE— A S « C,AL SAVINGS I six 6-footers. Rambler tops all other low- V. SOW FIRST COST J SAVE UP TO SSOO ON STATION priced can in trade-in value jjfiinnrTT : Tit np« imtiH WAGONS—Get the 100-inch by more than ever, according j Rambler American to N.A.D.A. Used Car Guide. I COIE IN NQ« AND STRIKE IT RIOHI SAVE HUNDREDS OF DOLLARS OURINR BONANZA DATS! * •■>... *>.• §•• ; v . EDENTON MOTOR CO. North Broad Street this record possible.' Informed and intelligent risk-taking has I always played an important role jin our ecoqomy; but it is no substitute for the savings ac | cumulated by the, people in life I insurance, savings accounts and other mediums of thrift. Sav ings are the funds which really make America grow, by means of which homes, factories, hospi tals, schools, and highways are .built. Need To Encourage Savings With recovery proceeding strongly from the 1957-58 reces -1 sion and the country entering a new stage of expansion, the | need to enrourage people to save i more takes on added dimensions if the nation is to fulfill its growth potentials and meet the military-economic challenge of Communist world. And that is why it is all the more essential :to call a halt to the inflation- I ary trend of the last two decades | and to bring the Federal budget , back into balance as indispensa | ble to a dollar of stable buying J power. Here is how ‘private and pub ! lie investment-type expenditures break down for the period from 11950 to date, according to De partment of Commerce figures: ' Business investment added up to $367 billions for the nine year period. The classification of producers’ durable equipment alone came to $205 billions, or well over half the total. The balance consisted primarily of industrial and commercial con struction and changes in inven tories. The consumer share of invest ment-type expenditures aggre gated just under $450 billions for the period. Os this total, $l4O billions represented the construc tion value of new nonfarm hous ing. The balance of approxi mately $3lO billions consisted of consumer purchases of durable goods, dominated by automo biles and big-ticket items in which buying on time and avail ability ’of credit are of funda mental mportance. Social Investment Large The classification of social in vestment, primarily by State and local government, added up to $lO5 billions for the period. Os this total, about $34 billions rep resented expenditures on roads, or approximately one-third of the total. Construction of new schools and other educational structures came to approximate ly sl9 billions for the nine-year period or almost a sirth of the total. Other large areas of so cial investment are found in sewer and water systems, and conservation and development outlays. One thing that stands out from an analysis of these figures and their trend over the years is the predominance of private invest ment-type expenditures. It is true that government outlays of this type have grown steadily, but during the current decade the private classification has av eraged about seven-eighths or more of these expenditures an nually. Another is the size and im portance of consumer investment, type outlays not only in rela tion to the total but in their re sistance to recessionary influ ences. In most recent years, the people’s investment-type outlays ran about 50 per cent or more of all such annual expenditures in the economy. Besides, they showed a relatively modest de cline last year from the year be fore as the result of the reces sion, by contrast with the vola tility of business investment out lays, which fell almost 25 per cent between 1957 and 1958. Veterans Eligible For VA Pensions Veterans of World War I, World War II or the Korean conflict period who are perma . nently and totally disabled from reasons not traceable to ser vice—who are credited with 90 | days or more service, unless I they were discharged sooner for a line-of-duty disability, and were discharged under other than dishonorable conditions— I are eligible for Veterans Admin istration pension payments, the Veterans Administration says. VA said many inquiries have been received at its offices in recent weeks about the require ment for pension and for com pensation payments. The differ ence between these two, accord ing to the agency, is that pen- NOTICE I ant now representing the CAROLINA AWNING & TENT MEG. CO., of Rocky i Mount. 1 Please Call 4197 : Geo. Habit \ ABUNDANT LIFE ROBERTS "WE DARED NOT TURN LOOSE!" "We hung on for dear life as the waves pitched us to and fro on the blinker buoy,” the wo man said in telling of a terrify ing experience that she and her family had just gone through. “We dared not turn loose with our right hands for fear we would drop our babies into the sea; we dared not turn loose with our left hands for fear we ourselves would slip be neath the waves. If that had happened, our babies would have gone down with my hus band and me.” She related how she, her hus band and two small children had been out on a pleasant, after noon boating trip when, sudden ly, a savage squall moved in upon them. The storm quickly caused high waves, and the strong winds damaged the steer ing mechanism of their boat. Drifting helplessly in the heavy seas—within sight of land : itself —the boat was dashed into a floating blinker buoy. Acting quickly, the mother and father scrambled onto the buoy, each holding a small child. Then their boat sank beneath the water and they were left ma rooned on the buoy. “We clung to. the buoy for two nights and three days be fore help came,” the woman said. “We were cold and wet. The children were hungry. We sion payments are for non-- service connected disabilities, I compensation for service-con- j nected. 1 * i Pensions are payable by VA only if the veteran who is oth erwise eligible has income from Other sources that does not ex ceed $1,400 a year if he is un married. If he is married or has a minor child, the limitation is $2,700. The monthly rate of pension payment is $66.15. After a vet eran has received pension pay ments continuously for a period of 10 years, or when he reaches 65 years of age, the monthly 1 ★ ★★★★★★★★★★★★★★★★★ * Longer Life * * for : * farm engines! * ADVANCED CKMIW' * * HAVOUNE : * - MOTOR OIL * Regardless of price, Advanced Custom-Made k Havoline is the finest motor oil you can use k k in your tractor, truck or car. ★ k This outstanding motor oil from Texaco + k keeps tractor engines cleaner, thus delivering * full drawbar power. In rugged tests against ir other leading oils, Havoline proved to be far superior in terms of power, faster getaway k and more fuel mileage. Also, when engines k were inspected, Havoline lubricated engines ★ showed practically no wear or rust. For your costly farm equipment, specify k the motor oil preferred by so many farmers . k in all 48 states. You’ll like k the other fine Texaco f k k * products, too. It pay ß to k •fa farm with Texaco prod- I J k + ucts! Come in or phone us. ★ J. H. CONGER Phone J SIGNEE Edenton were all afraid. But all during those long, agonizing hours we never gave up hope. We prayed to God to deliver us. We asked Him to send us a rescue boat.” She told how she and her husband watched helplessly as many boats, out looking for stranded small craft after the storm, passed close by the buoy. “I admit I thought we might be doomed,” she said. “But something told me that God would deliver us. So I never let up in my constant prayers to God to send help. And it came.” The entire fami ly was whisked to shore and to safety by a tugboat captain who later said: “Something told me to check that buoy, although its light did not need servicing for another month. I am certainly glad I did, for we saved four lives.” The mother possessed faith in abundance. Her faith brought her family through be cause she put her entire trust in God! True, she admits, the fami ly was afraid. But she said. “Something told me that God would deliver us.” Do you have such a strong faith ... a faith that will en able you to keep from “turning loose” in your hour of trial? We know that nothing is too difficult for God. If we believe in Him and trust Him, He will see us throughl payments are increased to $78.75. If a veteran entitled to re ceive pension becomes blind or is so helpless as to require ttn regular aid and attendance o another person to help him, h •may be eligible to receive month ly payments of $135.45. Veterans may receive informa tion or help in applying foi pension or compensation pay ments from any VA office. Son—“ What do you call a man who drives a car?” Dad: “It depends on how close he comes to me.” Overseas Jobs Are Now Open A Department of State Per sonnel Officer, Edward T. Simms, will be in Norfolk the first two weeks of August to interview candidates for clerical jobs in the United States Department of State both overseas and in Wash ington, D. C. “There are overseas jobs in I 286 American Embassies and! Consulates in some 90 countries,” Mr. Simms explained. “Our em phasis is not on the travel or adventure inherent to the jobs. We’re interested in hiring the person who will dig in and do a job well no matter how routine the duties may be. Our em ployees must be willing and able to serve at any post in the world under conditions which may be considerably different from those to which he or she is accustom ed here at home.” Interviews will be conducted at the Virginia State Employ ment Office, 904 Granby Street in Norfolk from August 3 through August 15. Office hours are from 9:00 A. M., to 4:30 P. M., Monday through Friday, Wednesdays until 7:00 P. M., and Saturdays from 9:00 A. M., to 12:00 noon. Foreign Service positions arc open to men and women. Ap nlicants for secretarian and ste nographer positions must be oficient in typing and ghort nd; applicants for the com munications. clerk position must -ype 45 words a minute. " ”" vv>,VVV W v ''' # '^WVWWWWWVW OH, MY ACHING SACK Now! You can pet the fast relief you need from nagging backache, headache and muscular aches and pains that often cause restless nights and miserable tired out feelings. When these discomforts come on with over-exertion or stress and strain—you want relief— want it fast! Another disturbance may be mild Madder irritation following wrong food and drink—often setting up a restless un comfortable feeling. Doan’s Pills work fast in 3 separate ways: 1. by speedy pain-relieving action to ease torment of nagging backache, headaches, muscular aches and pains. 2. by soothing effect on bladder irrita tion. 3. by mild diuretic action tending to increase output of the 15 miies of kidney tubes. DEnjoy a good night’s sleep and the same happy relief millions have for over 60 years. New, large size saves money. Get Doan’s Pills today 1 q Doan s Pills “THE PEOPLE’S BANK” /large ENOUGH \ \TO SERVE L SMALL ENOUGH W TO KNOW YOU 3% Interest Paid On Savings Accounts (Compounded Semi-annually) EDENTON, NORTH CAROLINA MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION DEPOSITS INSURED TO *IO,OOO CHRISTIAN SCIENCE How spiritual understanding of God heals sickness as well as sin will be brought out at Chris tian Science services Sunday. “Spirit” is the subject of the Lesson-Sermon. Readings from the King James Version of the Bible will in clude Christ Jesus’ promise (John 14:12): “Verily, verily, I say unto you, He that believeth on me, the works that I do shall he do also; and greater works than these shall he do; because I go unto iny Father.” From “Science and Health with Key to the Scriptures” by Mary Baker Eddy the following will be read (316:7): “Christ, Truth, was demonstrated through Jesus to prove the power of Spirit over the flesh, —to show that Truth is made manifest by its effects upon the human mind Carolina Securities Corporation Charlotte New York City Raleigh I>. M. Warren 206 \V Eden St. Phone 2166 Kdenton Farm Fresh Foods '>T T is now contracting with Grow sss&.iJE*its for Fall Snapbeans and Cucumbers. Spring Vegetable Land and Small Grain Acres kw. give two Crop Incomes when l§» '** planted in Fall Snapbeans and Cucumbers. ... t GROW THESE ( ROES UNDER A GUARANTEED CONTRACT PRICE FOR Farm F resh Foods, Inc. Gatesvillc, N. C. Our Contract with you is approved by the N. C. Depart ment of Agriculture . . . If you are interested in growing Fall Vegetables under contract— — Contact Fred G. Logan, Manager, Phone 3011 PEOPLES BANKaidTRUST COMPANY Thursday, August 6, 1959. EDENTON, NORTH CAROLINA and body, healing sickness and destroying sin.” TRY A HERALD CLASSIFIED! Don’t Lag—Buy Olag dentists say "wonderful" . . , "best I’ve ever used" . . . "best tooth paste on the market ANTIQUES New shipment of Dres j den, Meissen and other j China and glass. Suitable for Gifts \ j Mrs. M. D. Watson j 507 N. Broad Street j EDENTON, N. C.
The Chowan Herald (Edenton, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 6, 1959, edition 1
7
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