I r*' l “ 1 >
■ . I
(I No Comment
1 i r * y i W. POTJTHAT^
I HO COMMENT" U a report ol
I fcw-jrtnntT ob th* Mtisntl tcw»
■ and does not necessarily toiled
■ NAM potter or position.
1 “ Washington The economy
ft forces in Congress still regard
■ area redevelopment legislation—
■ •long with a variety of other'
■ huge spending proposals—as ser-
I ious threhts to balanced budget
I Piogresjs of the $251 million
■ area redevelopment bill, which 1
ft would authorize federal subsi-
I dies for chronically depressed
ft sections, was halted by refusal
I of the House Rules Committee
1- to clear fit for floor considers -
■ Other parliamentary avenues,
■ however, are available for get-
I ting (thei legislation before the
I House. Jt is possible, too,- that
■ the 6 to ,6 tie ivote of the Rules
■ Committiee could be shifted to j
I a majority in favor of floor con-
I Needless to say, there is still;
■ apprehension over the outcome j
K among the congressional forces
■ opposing unessential spending
■ and seeking to preserve state
I and local governmental func-j
I With the end of the eongres-
I sional session approaching, the.
I big spenders are working over-'
I time in lan effort to push their 1
I pet schemes toward enactment.
I This pressure is certain to be
I intensified in the weeks to come.
I Opponents of the area redevel-
I opment 'legislation and other j
R similar Spending proposals—con-
I tend that such problems should]
I be handled at the state and local]
I levels. They maintain that it is
I unfair to tax residents of other
I areas for the benefit of small
I segments of the population
I whose problems are temporary !
I and can* be handled by the exer-
I cise of private enterprise inge-j
I If such federal largesse is!
I given to a few communities, it is*
I pointed out that this would serve
I as an incentive for every other;
I community in the nation to ex-
I pert financial assistance from;
K Uncle Sam instead of grappling
I' with the problems themselves.
I The opponents assert that the)
I habit of running to Washington]
I for assistance in meeting almost;
I every problem that arises must!
I be broken—or else the govern-;
| ment will be plunged again into!
inflation-creating deficit financ-'
The area redevoipment bill isj
only one of many measures be- 1
fore Congress which would boost j
federal and wipe out
any prospects for a surplus in
the fiscal year starting July 1.
In fact, a count made by;
Senator* Morton (R-Ky.) shows
that the big spenders had in-,
troduced legislation calling for
additional federal outlays of
f $325 billion over the next five]
This would be in addition to'
the expenditures proposed in the |
Administration’s budget, estimat-j
ed at $79.8 billion for next year
against receipts of SB4 billion. |
“Let the tiniest scratch or:
pimple appear on the national’
economic body and in rush the,
big spenders with their federal;
aid ‘band-aids’,” Senator Mor
tem told the American Society
of Newspaper Editors.
“Theyt, 1 have developed more
remedies than there are ills,”
he added. “They have an elixir
for every elector. And a few
bottles left over, just in case."
In his opinion, however, there!
are more votes lost than won j
“along the route of (fiscal) ir-'
Another spending proposal,
threatening serious inroads on
; the prospective budget surplus
£ would provide a $1 billion spe
ll cial assistance fund for subsi
l dizing the housing industry.
The attitude of the Eisenhow
• er Administration was reflected
in a vigorous statement by Rep.
Halleck of Indiana, the House
Republican leader, saying the]
bill, by Rep. Rain (D-Ala.). was;
“a billion dollars worth of ba-j
«- iwjptj! >-?
I * “ ~~ -•-"" ■ ijw*.".'iv^ii l -!, «< ink'll
v - ■
W|' ■ ■ ■
-T*'. \ .'rtT'x " m 1 ■
READY FOR* THE OLYMPtCS-Sptdtkn on 0* dwtoot rim overtook the modernistic
Velodrome cy\ ling stadium, now ready ter the summer Olympic games in Room It has a
wooden track a grass infield designed ter soccer games. •
The National Outlook
The Cost Os Consumer Credit
B\ • Ralph Robey
No one likes to pay sat ex
orbitant rate of interest ,on a
loan or borrowed money, no r to
see any one else forced to do *x
Yet tens of thousands of |\ er
aons are paying such rates con
stantly without even being axvsAre
of it. It is to eliminate thvs
lack of knowledge that SenatiV
Paul Douglas (D-JU.) has intro
duced a bill requiring that all"
charges on installment credit I
and personal loans be stated as
a simple interest item—6 or 8 or
10 percent, or whatever it may ;
The lack of awareness by bor- •
rowers of whai they actually are
paying arises in many instani'es ■
from the failure of the lender to
indicate the difference between
a cash and a time purchase price
(generally, this probably is be
cause the purchaser does not
even inquire), and in many in
stances because of the manner
in which the charge is stated.
For example, if one borrows
$1,200 for one year at 6 percent
and has to pay back SIOO a.
month, his real interest charge
is not 6 percent but about twice
that- This is because under
these circumstances the borrow-.
er does not have the use of I
$1,200 except for one month—l
the first month—and each month I
thereafter the amount he has I
left of the loan declines SIOO.
Yet when he has only SIOO of
the loan remaining his dollar in
terest charge is the same as
when he had $1,200.
That is the simplest example l
of interest rate distortion, but I
even it would not lie especially 1
easy to correct, and its oorrec- j
tion would not accomplish the I
objective of the Douglas bill, j
The- Senator is after the compli
cated cases and believes if the
real charge was known by the
borrower we would have less
■use of such credit.
Now, installment credit is ex->
SEE US TODAY FOR YOUR
Fertilizer and Spraying Needs
WE HAVE A COMPLETE STOCK OF
FARMALL FERTILIZER ATTACHMENTS
JOHN BLUE FERTILIZER ATTACHMENT
JOHN BLUE DUSTERS
Broyhill Chemical Sprayers
See Us Now For All Your Needs *
Byrum Implement & Truck Co.
riU/U( •ivl JL\jrXu% Xrl#
TEE CHOWAN HERALD EDEKTOK, WORTH CAROLINA, THURSDAY, MAY 18, IMS.
, pensive, and even under the best
|of circumstances has to cost
[ substantially more thaw other
I forms of credit. In the ease off
, a single payment loan, for ex
-1 ample, the borrower may drop
by the office of the lender or
mail him a check in payment oS
the loan. If the lender is a com
mercial bank, the loan otdinar
ilv is paid by the borrower hav
' ing his account debited by the
V»mount of the loan at its ma
In the case of installment ere
| dkt —whether it is on an autonto
-1 bi|c, a home appliance, fturni
tu.v- or anything else—the .prob
lem* of collection is vastly diff
iferent. The borrower here too
max- drop by or mail the in
stallnaeni. or it may be the
praciicte of the lender to send a
collectar to pick up the pay
ment. Regardless of the meth
od followed, both record keep
ing and collection is more ex
pensive than in the case off a
one payment loan.
Almost nil consumer credit in
volves sonar investigation off the
borrower, and all of it should be
based upon such an examina
. tion. Since consumer loans nor
mally are for lelatively small
amounts, the cost of such a
search is proportionately much
higher than it is for business
The percentage of loss on con-,
sumer credit is amazingly low. I
but there are losses, and if it is
necessary to repossess the ar-;
ticle financed, or to use legal]
means for the collection of the
balance, expenses become high. s
Because ol these and other
items there is no possibility off
bringing the cost of consumer
credit down to the level of nor
mal business loans. At the
same time there is no question
that it would be highly desir
able for the total cost of buy
ing on time to tie known by the i
Chowan County Democrat*
will hold their county convention
Saturday. May 14. at 3 o'clock
in the Court House.
The purpose ol this mooting
Jh (Or organising according to
the plan ol organisation oI the
Da muriatic party and to elect
!! delegates to too State Contren
> (ten. The Stale Convention will
!te held in the auditorium at
Raleigh Thursday. May 19. be
ginning at IX o'clock noon.
Various product mootiwgt wore
hold lost Saturday, at which
time delegates to the County
Convention were appointed. All
jot those delegates are expected
to he on hand lor toe county
\ Covered Dish Supper
s At Masonic Temple
A covered dish supper will be
held tonight (Thursday) at 7
o'clock in the dining room of
toe Masxxiw Temple. Attending
toe dinner win be members of
I the Eastern Star and their wives
•or husbands and Masons and
j their wives.
All members of both organiza
tions and their wives or hus
bands are cordially invited to
attend. The affair was planned
as a get-together to create fel
lowship and friendship.
borrower. That is the primary ;
reason far the Douglas proposal ;
I Setting such widespread support
las an objective.
The difficulty arises when one
'tries to determine who should
! enforce such a statute, and how.
| Most off our states already have
'law's on the rate of interest
j-which may be charged. These
! obviously are not all that they
'should be. but the public would
be better served if these state
tews were corrected, and en
forced. that it would be by the
creation of another large hu
ireaiirracy in Washington.
WITH THE FARM WOMEN
By MAIDRED MORRIS
April Was Health And
April was health and safety
month in Davidson County. The
health, safety, citizenship and
food conservation leaders in the
Home Demonstration clubs pre
sented a special program at lo
cal club meetings.
Mrs. Martha B. Thompson,
home economics agent, reports
the health leader stressed the
importance of an annual check
up since it was cancer month.
The safety leader spoke on traf
fic safety problems while the
citizenship leader discussed civil
defense. New garden varieties
for 1960 were presented by the
food conservation leaders.
Willi the first signs of spring,
Home Demonstration wofnen be
gin planning their spring tours.
Recently, 36 club women in
W-arren County made a six-day
educational tour of North Caro
lina, South Carolina, Georgia
The chartered bus carried the
group to visit gardens and 'his
torical sites. Mrs. Emily Bal
linger, home economics agent,
says the group observed living
conditions and farming practices
jfHft 575? kss surassmsfism
£si«rsSLjSte *ga AUGUST FURNITURE WHSE *■»«“&**
H WHAT COULDI
mj§m be easier?!
i w 1
Just relax! Let Want Adt do the jPg?
Jjfmchj job for you. It pays to use the Want Ads
•wmm ».. when you want to sell, rent or buy. jjgjy
irfffiK It pays to read the Want Ads ... far » c«i
sSI bargains, opportunities galore.
P The Chowan Herald ”£
Gas u hi-c
t'RExkriioW *jr,|s4i.i YMNllliK Nxn-^
furiUtar* l yt»r ajd fwltwood. W«| wltli Jhbry, i % U Si.
(POLITICAL ADVERTISEMENT) ,
david McConnell ~ A
LIEUTENANT GOVERNOR [.
FARM BOY • TEXTILE WORKER ySkJvj
LAWYER • BUSINESSMAN I#-
[EXPERINCED DEMOCRAT AND PUBLIC SERVANT
County Chairman 3 Times ...» Special Counsel to U. S. Treasury
Precinct Chairman—3 Times . ’ Department
NATIONAL CONVENTION DELEGATE- Elector r At-Urge from N. C. to U. S,
2 Times i K ; ~ Electoral College
Advisory Councilor £•; ‘ Member-N. C. Judicial Council
Democratic National Committee . Secretary and Member—N. C. State Board
l. S. Senate Committee Counsel / r of Elections
EDUCATION [ CIVIC-COMMUNITY' ACTIVITY|
DAVIDSON COLLEGE—CIass of 1933 ' . . . • w . *>. *
HARVARD UNIVERSITY—Due to ihe.-death of c'u* "J J 1 Presbytenan
his father in early life—Dave exerted himself and ~ nday S ™°° ] Teacher
won a scholarship to Graduate Busi- * aso ? ’ hnner
ness School and assisted himself by part-time . r . ian > * _. _ :" -
work American Legion—4o& S
GEORGETOWN UNIVE RSITY—While m Govern- *» Commerce
ment Service , ‘j , Y MCA " . T• , • ,
~~ MILITARY RECORD [ CAMPAIGN RECORD |
SOLDIER—WorId War ll—6 Years Service To be a Competent and Impartial Presiding
, Ist and 2nd BURMA CAMPAIGNS Officer of the Senate of North Carolina.
3 Decorations v ! , 4 To assist all the people and the Governor
» «i i i 1 i .in -in | they elect to carry out a Program of Progress
V: BUSINESS ACTIVITY
* I ■■■■■■■ i ‘ ! Balanced Economic Growth for Farm
Practicing Attorney— ‘ and Industry
Member of: North Carolina Bar ' . Higher Production' and Increased Per- 'N
U. S. Supreme Court Bar ' sonal aadFarm Income
' . ' U. S. Tax Court Bar Stronger Public School System
General Counsel—Belk Stores 71 , Community College *
Director: Cole Manufacturing Co.— - - JTj Vocational & Trade School System
(Farm Implements, Cole Planters) , Expanded Road System
Engaged in Farming , , V
in other sections of the country.
Good Neighborly Community
Fire broke out on a night in
November, 1959, and completely
destroyed the home of Mr. and
Mrs. Howard Scott in Surry
County. This month the fami
ly is completing a new brick
home to replace the burned one.
'The, Shoals Home Demonstra
tion Club, of which Mrs. Scott
its president, has made a great
contribution to the family. The
club is furnishing one 'bedroom
in the new home,” says Mrs.
Evelyn Nifong, home economics
agent. Mrs. L. A. Matthews .and
Mrs. O. W. Hauser, Jr., j of*Pin
nacle, Rt. 2, have steered* the
club project. ' ' >'■
Home Demonstration Chorus
The . Home Demonstration
County chorus members.-in.’Pas
quotank County attended r prac
tice regularly getting ready for
their county spring federation
program. The musical- program
of folk music had as its theme,
“Come Let Us Be JoyfuL”
Miss Edna Bishop, home eco
nomics agent, says Mrs. W. E.
Lewis, Elizabeth City, Rt. 3, xvas
program chairman and Mrs.'Rus
sell Cobb, ’Elizabeth City, Rt. 1,
directed the chorus. With Mrs.
W. R. Gregory, Elizabeth City,
Rt. 3, asi the pianist, 4he musi
cal program proved delightful.
Salvages Old Furniture
Do you spend your spare time
salvaging old furniture? It may
pay oft if you do. Up in Chero
kee County, Mrs. Hobert Hughes
'of Bellview Home Demonstra-
I tion Club, has recently refinish
jed an old desk which her hus
. band had discarded. Miss Thel
. ra« Wheeler, home economics
agent, reports Mrs. Hughes did
,an excellent job in removing
many coalts of paint.
Although many hours were
spent on the. old desk, Mrs.
Hughes will • have the satisfac
tion of knowing that her work
saved them many dollars which
a new desk would have cost.
“Fve dressed chickens all my!
life, but this is the first time
I’Ve seen it done this way,”
That was the comment of many
Home Demonstration Club wo
men in Harnett County as they
xVatehed W. G. Andrews, poultry
specialist, conduct a demonstra-l
FESTIVAL OF VALUES
Girls’ Sun Dresses
Sportswear for Boys - Girls
ONE RACK DRESSES
, .. —e_
Tots and Teens
■ ' . . • ——;
| tion on packaging end processing
•poultry for the market .
Mrs. Pontpse Gore, assistant
home economics agent rqpafe
the meeting was for potential
curb market sellers in toe LiO
jington area. Andrews emphasiz
ed the right water temperature
and told them how to make
every stroke count when re
moving feathers and pinfeathers.
' THY A HERALD CLASSIFIED