Ik The Nation
What Happe
i By Kau-i
persons already have
iriade their forecast for what is|
ahead for the next twelve
months or longer. The niunbej I
engaging in this annual c er-j
oiae runs to many,.many t jus-'
ahds. Businessmen have to do
it .as a basis for planning -or the
future. They may limit their i
predictions to their own .mar-1
k&ls and company, or they may
cover thef entire economic sys-]
tem. In addition there are hun
dreds and hundreds of others
who attempt to .ook into the
future because it is a part of
their jobs. j
We make such an annual fore
cast perhaps primarily because it
is a habit—and to some ex
tent as a result of it being ex
pected—and we hope that it is
of interest. This year the task
is not easy. We have delayed
bfarond the usual date in order
whave ,the benefit of what oth
ers had. to say, and to get the
latest possible statistics. i
Majority opinion, especially
among professional analysts, is
that we have been in a mild
recession fop many months. Last
April or May are the most com
monly Cited months for its be
ginning. It also is generally as
sumed by this group that the
modest downturn will continue
until the middle of 1961. I
Now there is no question that
recently business has not been
rrjoving upward and much un
favorable news has been pub
lished. But have we been hav- 1
ing what properly may be term-,
«d a recession ? That depends,
of course, upon how one de-l
fines “recession”. Let us look
at the major factors which pret
ty well determined the business
curve over the past year.
First was elimination of the
f#ar of inflation. Since 1940 or
before we have had an almost!
continuous increase of prices.'
Almost everyone got in the habit
of assuming that the rise would
continue. Then in 1959 prices
began to stabilize and by early
1960- it was evident that it no
lqinger made sense to count on
higher and higher prices. To
some ex tent this stability was I
the result of conscious policy on j
t£e part of the Federal Admini-1
stration and the Federal Reserve'
Board, but it also was helped by I
the elimination of shortages and
unsatisfied demands, by the de
! velopment of a surplus of almost
all basic commodities, and by
the public deciding that prices
Were as high as they should be
and, in effect, letting it be
known that they were not going
to "ay any more.
■ The second great influence on
the business trend during 19601
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al Outlook '
ned In 1960
hi Kobe*
was the change in inventories.
In the first quarter of the year
business added to its inventories
at an annual rate of over sll
billion. That was a rate which
could not be continued, but the
rapidity of the change and its
extent were much more extreme
than usual. By the second!
quarter the rate of accumula-'
tion had been cut in half, by i
the thiid quarter it had been i
eliminated entirely, and in the ■
fourth quarter ‘apparently—final
estimates are not yet published—
there was an actual decline.
Elimination of the fear of in
flation unquestionably was im
portant in bringing about this
change of inventory policy. If
goods are not going to cost any
more there is no reason for
holding unneeded supplies. Un
used capacity in our major in
dustries, and the assurance of,
quick delivery, also made a con- 1
tribution to the lowering of the.
volume of goods held.
Such a reduction of inventories
has a direct and enormous as- 1
fort upon the economic trend. Iti
curtails'orders, reduces produe-i
tion, lifts unemployment, lowers'
profits, destroys ihe incentive to
invest in now plant and equip
ment, lessens government rev
enues, undermines business' con
fidence, and! so forth and so on.
In the next column, we shall
spell out some of these results"
and give an indication of their
magnitude.
i SUNPAv SCHOOL ]
LESSON ,
Continued from Page 4—Section 2
brought it in delicious quality
and inexhaustible quantity. It
was, indeed, “good” wine.
According to the teachings of!
John, therefore, Jesus himself is
the Wine of Life. Into drab
dullness he brings new, better,
endless joy. He can transform
the parched life, the seared en
vironment, the dried-out faith
into radiant, unceasing gladness.
I It is Jesus that John is discuss
j ing. John is saying that Jesus
I gives abundant, divine, and eter
-1 nal joy. In him our joy shall
|be made full. And because we
believe these things, we may
have this divine joy in his
name..
Although everyone of us seeks
joy, few of us find it. This is
true because we seek it outside
ourselves. We confuse it with
happiness and pleasures. The
j most woebegone among us can
I iind a brief spell of haopiness in
I temporal things. But joy is not
TRE CHOW AW HERALD. EDENTON. NORTH CAROLINA. THURSDAY, JANUARY 5, 1961.
i a quality 'dependent on external
conditions. It*- is an inward, L
spiritual condition. It is not, in]
the Christian sense, • a human i
possibility. It is a .gift of the
Holy Spirit.
While the' wicked or sinful
person may experience pleasure,
he does not have the capacity
or the sensitivity^to know abid
ing joy and happiness. Jesus
brings joy by purifying a per
son’s motives, by sensitizing his
spirit, by integrating his life;
, he, indeed, makes a person joy
| worthy. He brings a' joy that
i is fertile, a joy that multiplies
1 as it is shared with others, a
] joy that endiytes.
Today's lesson. presents us with
an awe-inspiring challenge. Do
we really believe the good news
proclaimed by the Gospel of
John, that there is a power en
abling us to enter newness of
life? Is this newness of life
possible in the midst of our all
toc-familiar and sometime try
ing everyday activities and du
ties? As we plan our church
programs, as we worship, as wc
idiscu;s Christian faith, as we
practice our private devotions, is
j there the exnecfancy that some
thing cf major importance may
I happen?
i Have we really caught the joy
, ous note, the expectant note,
' which characterizes this great
Gospel? Have YOU?
IThese comments are based on
oullbies of the Inlernalions
Sunday School Lessons, copy
righted by ihe Internationa
Council of Religious Education
and used by permission).
Census Unfolds
Dramatic* Story
Os U. S. Growth
A new picture of a growing
and changing America, along
with some of the salient facts
and figures of the people that
have given the nation its for
-1 ward drive over the years, is
beginning to emerge from the
data gathered in the 1960 Cen
sus.
This is the 19th time in the
history of the Republic that the
mirror has been held up to the
country and its progress through
a population count, and the re
sults being tabulated by the
U. S. Bureau of the Census are
providing fresh evidence of the
dynamics of a free and demo
cratic society, and of what the
American people have been able
to accomplish by self -reliance
enterprise, hard work, and thrift.
Population And Youth
Population growth has been a
fundamental element in the pro
gress of the country since its
earliest' days, and the newest
I figures show the continuing
force of this factor. The Cen-
GRIM CLEANUP IN BROOKLYN—From atop a five-story
building a crane retrieves wreckage of the United Airlines
plane which crashed in Brooklyn, N.Y.
sus count shows an increase cf
just under 28 million persons,
in the population in the decade
jf the Fifties to a total of 179
million as of April 1 this year.'
This represents by far the larg-!
est. numerical increase on rec-1
ord, and the 18 per cent gain j
since 1950 was the uest showing
Property Must Be Listed In
JANUif w
Notice Is Hereby Giv« n
That the List Takers for Chowan County will sit at the following places at the times named, at which places and in which month all property
owners and taxpayers are required to return to the List Takers for taxation for the year 1960 all the Real Estate. Personal Property, etc., which
each one shall own on the first day of January, 1961. or shall be required to give in then. All male persons between tin ages of 2 1 and 50 years
are to list their polls during the same time. Return of property and giving in of polls are required under penalties imposed bv law.
FIRST TOWNSHIP SECOND TOWNSHIP
Listers: Mrs. James Byriiiu Lister: Henry Hunch
Jeanne S. O'Neal £*" u “ l-y ? 9 ’ 16, 23 ' 30 VV« n " c !’> f ore
January 5 Karl Smith's Store
Every Day First Floor Hotel Joseph Hewes Building January 12 W. L. Miller’s Store
January 19 Evans’ Store, Cross Roads
THIRD TOWNSHIP January 26 C. C. Nixon’s Store
I inter: T. I). Berryman At Home Other Days During- January
rv „ t , ' .... FOURTH TOWNSHIP
Every Saturday Lloyd Briggs Store
t - i t oi no Lister: Ward Hoskins
January /, 14, 21, 28 T , ut i , tew,
Every Wednesday and Saturday
Januai y o, 1., _6 LI. K. I eele s Stoie January 4,7, 11, 14, 18, 21, 25, 28 at Harry Perry’s
January 12 Spivey’s Store, Ryland Store. At Home Other Days.
Blanks upon which a verified statement of property is to be made by each taxpayer can be had of the List Takers. Kill these blanks and see to
it that statements are free from error, thereby obviating much trouble. Only females and non-residents of Townships and persons physically unable
to attend and file their lists can appoint agents to list property.
EXAMINE YOUR LIST BEFORE SIGNING
REPORT YOUR 1960 CROP ACREAGE THROUGH TAX LISTER DURING JANUARY, 1961
Your local Tax Lister is required to make the records but Farm Owners or Tenants must furnish the facts. Therefore, call your List Taker's
attention to these records and be prepared to furnish the following information: (11 Acreage for each crop harvested during calendar year 1960.
(2) Number of cows, sows, and hens on farm January, 1961. (3) Number of people living on farm January. 1961. All of the above information
furnished will be considered as confidential and will not be used in any manner that is detrimental to the farmers concerned. It is not used for
tax purposes.
Have Your Farm Report Ready For Your Tax Lister
After February 2nd A 10% Penalty Will
Be Imposed For Failure To List
First Township at First Floor, Hotel Joseph Hewes Building
- Ms
for any decade in 5.) years.
But the composition of the
population rise is of even more
i importance than the mere gain in
numbers. Os particular signifi
cance in this respect is the above
average gain in the young
' groups, children and teen-agers,
the source of the skills and the
leadership the country will need
in 4he years ahead. The latest
figures show that this age group
now represents close to 40 per
cent of the entire population,
thanks to the “baby boom” of
the post-World War II period, as
against only 34 per cent in 1950.
The traditional restlessness
which has long characterized the
American people continues to be
manifest in the figures. For ex
ample, the trek of population to
the suburbs and the outer
fringes of the metropolitan areas
accelerated in the last decade,
with the population in these
areas increasing by 50 per cent
m the 1950-60 period as against
35 per cent in the Forties.
Trend in the Cities
Bj- contrast, the population in
the central cities in metropoli
tan areas showed an aggregate
rise of only 8 per cent in the
last decade as against nearly 14
per cent in the previous period,
and a number of the nation’s
largest cities actu. Uy lost popu
lation, including New York, Chi
cago, Philadelphia, Washington,
Detroit, and San Francisco
Likewise the population con
tinues to move westward in
keeping with the long-term
trend. In the 1350-60 period the
West scored a population rise
I more than double that of any
other region percentagewise.
With a gain of just under 5 mil
lion in ihe period, California has
moved up to within challenging
distance Os New York for the
crown as the most populous
state.
Here We Go
Lady—So you are on a sub
marine. What do you do?
Sailor—Oh, 1 run forward,
ma’am, and hold her nose when
we want to lake a dive.
Farm Assets Up 17th Time In 20 Years
Total assets of the nation’s
farmers, financial as well as val-;
nation of the farm plant, edged
up to a new record high of
$203.6 billions last year, accord
ing to the U. S. Department cf
Agriculture, marking the 17th
rise out of the last 20 years.
The only years to show declines,
were 1949, 1952 and 1953,
Last year’s increase over the
year before amounted to little
more than a billion dollar.-,. It
was due to a $4 billion rise in
Straight $0.25
BOURBON
W niSIvCY TYRONE DISTILLING COMPANY
** lAWRENCEBURG, KENTUCKY
SECTION vm.
PAGE FIVE
raim real 1 estate, laryely offset
by declines in livestock, crop in
ventories, and cash. Aggregate
: u.n debt last year rose a bil
lon. dollars to $24.3 billions, but
v:i!y represented about 12 per
rent of the value cf farm assets.
Peace is not absence of war,
it is a virtue, a state of mind, r
disposition for benevolence, can
f;denee, justice.
Baruch Spinoza.