North Carolina Newspapers

PAGE EIGHT —SECTION TWO f Three Ps j Personal and 1 PRIVATE PROBLEMS taMacuiuiu. win a«M»u|>l to uiwai Bail and private problems at la aap»f» who submit their qaectioa. W JUa raiama. These iatiairiea to lm- US Justly and social problems and Fperer qtestiona that come op ia aßwtiax oaeselt to socletv: economic ■SKSm to include adjustment to busi riMe »ud careers. All taeuirlcn MrMspaaaeacs and names will be held ET.tfiiStrictcst confidence. All inqqtr- UeZb. questions should be addressed m'MU l“s", care of The f howaa Maaald. Fdentoa. N. ft ■* --•—Vladimir T». Kallas. tlMtaselor Dear Three P’s: If flyiu listen to the Democratic leaders and politicians our gov ernment is the stingiest govem iemment in the woild and we are sacrificing the defense of the country with paltry allow ances for missiles, airplanes and other necessary equipment for Adequate defense. Also the Democrats allege we are not spending enough on public hous ing, slum clearance, education and welfare. On the other hand the Republicans claim with our excessive debt we are spending oursplves into political and fi nancial bankruptcy because we are spending a great deal more than the national income and face uncontrolled inflation. You (tear a great deal from both Sides as to inflation and the in creasing costs of living. What is inflation they are talking About, and what are the causes.? —Detonius. Dear Detonius: In the first place you must remember that we are in a presidential election year and you must discount what poli ticians say about ninety-nine per cent. Then again it is the battle between the extreme liberal and ihe extreme conservative. The liberal wants to create a per fect world according to his ideas with other peoples money, and Anyone who does not agree with hlriTTs all wrong. On the other hand the conservative believes that you should pay for what you get at the time you get it and to limit all debt to a rea sonably short time for repay ment. With this introduction let us consider your question of what is inflation and the causes. This is a very broad question fa answer within a limited time and with limited space, but let ys. gpe what we can do to help you-understand the situation. Without going into a long, technical explanation of infla tion and the causes of inflation, let us briefly define inflation as beyond your income br means and going into debt beyond your ability to repay the debt within a reasonably short period of time, with the result that you go into long time debt. This results in a WAKE UP RAPIN' TO GO Without Nagging Backarht Now ! You can gel tne fast relief you n«ed 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 •train —you want relief—want it fast! Another disturbance may be mild bladder irritation following wrong food and drink—often setting up a restless un comfortable feeling. Doan’s Fills work fast in 3 separate wavs: 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 miles of kidney tubes. dEnjoy a good night’s sleep and the fame happy relief millions have for over $0 years. New. large size saves money. CJet Doan’s Pills today 1 Doan s Pills Taylor Theatre EDENTON, N. C. Thursday, Friday and Saturday. April 21-22-23 Steve (Hercules) Reeves in "GOLIATH AND THE BARBARIANS" OiiM-nmScopc and Color _ O Sunday. Monday and Tuesday, April 24-25-26 Elisabeth Taylor, Montgomery Clift, Katherine Hepburn in "SUDDENLY, LAST SUMMER" ADI’LT ENTKHTAIJiMKNT & ' 0 Wednesday and Thursday, AfCil 27-28 Gregory Peck and Jennifer Jones in "DUEL IN THE SUN" - Teckaieviar \ -< v H Beginning April 29- Ciiwmeseopo, Color And loss of confidence in the credit 1 structure or a loss of faith in the ability of the individual to repay his debt. This in turn brings about higher and higher interest rates for borrowed money and the charges for re ceiving the credit, and an in crease in the cost of goods and services to further offset the credit risk. This further brings about a loss in the purchasing power of the dollar and a furth er increase in costs of goods and sevices to offset this value of the dollar. As an illustration of inflation. When you bought an “E” bond in 1940 for $18.75, the purchasing power of that money was $18.75; in redeeming that bond today the purchasing pow er of the $25 bond is only $11.75 in terms of goods to be pur chased. That is inflation, an increase in the cost of goods or a loss of the purchasing pow er of money. While. the individual debt in this country is in the billions for everything from diapers to deluxe automobiles and homes, let us not consider this phase, but go into the national debt. At the present time the nation al debt is $292 BILLION DOL LARS; the interest and‘carrying charges on this debt alone amounts to over TEN BILLION . DOLLARS, or more than the to- 1 tal cost of operating the nation al government in 1930, or about fifteen per cent of the budget. With this huge debt, and no pro vision for its amortization, coupled with the heavy carry ing charges, the Secretary of the Treasury is finding it more and more difficult to borrow money to pay the expenses of govern-, ment This has resulted in a demand on Congress to increase the interest on the money to be borrowed by the Secretary of the Treasury. This increase has been granted by Congress which increased the cost of Govern ment. It is a further evidence in the loss of credit or the faith in the government to pay the debt. At the present time the Government is in default as to the amount of gold reserve it should carry in proportion of the outstanding currency and credit. This further reduces the faith in the Government in its ability to repay the debt other than more and more borrowing at higher and higher interest' rate. A few years ago our gold j reserve amounted to $25 Billion! Dollars. Against this there are’ foreign credits of approximately! Sixteen Billion Dollars. In the! past two years because foreign-! NOTICE! TO Chowan County Taxpayers By order of the Chowan County Commis sioners, I will on Monday, May 2, 1960, ad vertise property for sale for 1959 delinquent taxes, the sale to be held on Monday, June 6th, 1960. Pay your taxes now and save this extra expetise and embarrassment! EARL GOODWIN Sheriff of Chowan County k » hi THE CHOWAM HEBALP, EPEHTOW, MOjfflf CAB6MHA, THURSDAY, APRIL 81, 1960. » ers have been losing faith in the purchasing power of the dollar they have been demanding pay ment in gold with t.lc 11 that our gold reserve is down now to less than sl9 Billion Dol lars with foreign claims against this gold of some sl6 Billion Dollars, reducing our actual gold reserve to some $3 Billion Dol lars. In 1940 Congress reduced our gold reserve requirements from 40% to 25% of outstanding currency and credit. Legally and actually at the present time we should have a gold reserve of some S3O Billion Dollars, but we only have $3 Billion if al lowance is made for the out standing foreign credit against this reserve. Already foreign ers and wealthy people are in vesting in gold stock and gold certificates, which are maintain ed in Switzerland and Holland. This speculation is based on the fact that with our increasing debt and foreign credits the pur chasing power of the dollar is going down hill and the specu lators are gambling that we will monetize the debt by issuing pa per money against the debt without any gold reserve, which means that we will have to de value the dollar and the price of gold will go up to $76 an ounce. The government is looking for more and more ways to increase taxation. Personal income taxes are at a high and new means of taxation are being sought. Individuals, towns and cities and State governments are spending beyond their income and they are looking for more and more ways to increase taxation. In New York they increased the State income tax and the sales tax in New York City has been raised from 3% to 5%. More and more demands are being made on the Federal Govern ment by towns, cities and States for more Federal handouts. President Eisenhower justly ve toed the sanitation bill to pre vent the pollution of streams which he thought was a local BE FOR Bonner FOR CONGRESS problem. Governor Lawrence and 'Mayors of cities in Pennsyl vania descended on Congress for more and more money. Phila delphia' wants the Federal Gov ernment, the local taxpayer I throughout the country, to subsi dize commuters and ihe rail roads in Philadelphia. Governor Lawrence criticized* the Con gressmen and Senators from Pennsylvania for not demanding more and more Federal money for local projects. This all in creases the cost' of the Federal Government, results in increased taxation and of course brings about inflation due to the loss of the purchasing power of the dollar. Russia need not worry, about winning us to Commu nism, because we are headed that way because of inflation and government control. Lenin announced as one of the prin ciples of Communistic propa ganda was to favor inflation. Greece and Rome went down because of it; Italy, and Ger many produced dictators because of inflation and France is a second rate power because of it. So there you have it. Dear Three P’s: My aunt is always making presents to my wife with strings tied to the presents. My aunt sends money with stipulations as to how the money is to be spent on the youngsters. We are not always in accord with these demands and some of them are harmful to the youngsters. What can we do about it without up setting my aunt? —Doleful. Dear Doleful: Well that one is easy. Who is bringing up the children, you or your aunt? Unless you are selfish and want the money, you should just tell your aunt that while you appreciate the gifts, you do not want them with the strings attached. A bean in liberty is better than a comfit in prison. —George Herbert. Promoted P’ • v "US I \ J|j I IfL T JH JOSEPH H. THIGPEN First Securities Corporation of Durham, one of the largest in vestment banking firms in the Carolinas, has announced the promotion of Joseph H. Thigpen of Williamston, to the position of assistant vice president, ef fective April 1. New Highway Maps Being Distributed “From the mountains to the sea” is the theme of the all-new State Highway color maps for 1960. ,*»», The front cover of this year’s color map shows a view of west ern North Carolina, near Mount Mitchell, and the back cover features a coastal scene showing a fisherman with his nets and two small children looking on. The phrase “Variety Vacation land” appears on both covers in red and black lettering. Three hundred thousand copies are ready for free distribution by the State Highway Department. COLERAIN RESIDENT DIES Ernest R. White, Sr., 66, died Thursday morning at 8:20 o’clock REVIVAL MEETING OLD FASHIONED PREACHING SPECIAL SINGING We Believe And Preach The Whole Bible ... Jesus Christ “IS” The Same Yesterday, Today and Forever! COME . . . HEAR . . . E f VJOY FIRST ASSEMBLY OF GOD CHURCH OF EDENTON APRIL 24 MAY 8 See The Dinah Shore Chevy Show in color Sundayt, NBC-TV-w-lhe Pal Boone Chevy Showroom weekly, ABC-TV Mill £«<§> il|pLf*>y \ ||||||'- CORVAIR BY CHEVROLET DRIVE IT! GET OUR DEAL!!!! U w- -»• I imm ooo wF** » W dfjk Bl W H fa | iPB| w H S'at his home near Colerain after j an illness of six weeks. He was i a retired fanner and merchant, y-rie was a native of Bertie Coun ty, son of the late Isaac and Car del ia White. j Surviving are his wife, Mrs. : Lora Mizzelle White; two sons, E. Ralph White, Jr., and Page M. White, both of Colerain; a brother, Elton M. White of Windsor; five siscers, Mrs. Ola ■ King of Florida, Mrs. W. R. I Lawrence and Mrs. C. M. Cope- I land of Merry Hill and Mrs. D. T. Baker and Mrs. Ralph Brown of Colerain and five grandchil dren. He was a veteran of World War I and member of the Cole rain Baptist Church, where fun eral services were held Saturday afternoon at 3 o’clocr.:. The pas tor, the Rev. P. T. Worrell, of ficiated and burial was in Hill crest Cemetery at Colerain. IN MEMORIAM In loving memory of our dear Daddy, William W. Jones, wno passed away one year ago, April 24, 1959:’ Dear Daddy, how we miss you, No one will ever know. Our hearts are still heavy, Because we loved you so. Your chair is still empty Because .no one else can fill The place you always had, Working with us until God called yoru, home to rest Because he loved you so. ( Daddy, we all still miss you But you are at rest, we know. —By his Devoted Wife and Children. "THE HIGH COST OF ROYALTY" Will Princess Margaret be able to live within her income after her marriage? Will she pay all the household bills and not depend on Tony’s limited means? Learn how the Princess will keep up with the Joneses. Read ‘The High Cost of Royalty” in the April 24 issue of the Amer ican Weekly with the BALTIMORE AMERICAN on sale at your local newsdealer A pair of Corvairs recently recorded 27.03 and 26.21 miles per gallon in the | 2,061.4-mile Mobilgas Economy Run. That’s certified proof that Corvair skimps on gas costs. It saves other ways, too. Corvair is the only U. S. compact car I that never needs antifreeze or costly radiator repairs. Come in and drive the * compact car that outdoes them all. Things Corvair gives you that America’s other compact cars can’t; Practically llat floor ... real foot room for the man in the middle. Paid dawn rear seat gives 17.6 cu. ft. of extra storage space. Four-wheel Independent suspension for a smoother, flatter ride. Reer-wkglns traction ... that conies with the engine's weight hearing down on the rear wheels. You probably realise already that the mile age figures Gorvairs recorded’in the Mobil - . ...... • i SEVEN STAR BLENDED WHISKEY, 90 PROOF, V'A% STRAIGHT WHISKEY 6 YEARS OR MORE OLD. 62Vi% GRAIN NEUTRAL SPIRITS. GOODERHAM & WORTS LTD* PEORIA. ILL Attention! PEANUT GROWERS We Have Rebuilt OuH Seed Peanut Sheller! ... it is now in perfect condition and we are ready to shell your peanuts. REMEMBER: AN EXPERIENCED OPERATOR CAN SAVE YOU MONEY! OUR PLANT IS LOCATED ON NORTH BROAD STREET IN FRONT OF GEORGE CHEVROLET CO. We Also Have Seed Peanuts For Sale. ❖ LEARY BROS. Storage Co. (formerly Satterfield & Leary) PHONE 2141 EDENTON TRY A HERALD CLASSIFIED AD gas Run are higher than the average driver can expect. But because the cars met every kind ol driving condition—rugged mountain grades, long country straighta way*, congest ed city traffic—those mileage figures prove Corvair’s inherent ability to save. Oper- BfanlMgHßß, ating costs take a nose dive the day tjgjM Veil m you delivery of | PknßuJi ■ a 9*vak. ■