Newspapers / The Chowan Herald (Edenton, … / Dec. 6, 1962, edition 1 / Page 15
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The National Outlook Progress On The International Deficit By Ralph Robe* It is liow being that' our international deficit for. this j Vyear will be about $1.5 billion. That? l is a vast improvement over what we have been experienc ing, but still leaves much to be desired. The international deficit or credit is the difference between all we sell, invest, spend and give to the rest of the world, i and what it sells, invests, spends and gives to us. Necessarily, the number of items entering the total run into the millions, hut these are normally grouped into a relatively few categories. l By far the largest category is | trade, or imports and exports. I Recently we have been selling | about $5 billion more goods abroad than we have been buy ing. .But even this favorable export balance has not been adequate .to offset various other items, upshot has been that for eign holdings of short-term pa- have been increasing and. billions of dollars have been converted into gold. In 1957 we vliad just short of $23 billion of. gold; at present it is about sl6 billion. The Kennedy administration, just as the Eisenhower adminis tration, has been intensely j aware of the international .defi cit over-all, and each has taken i various steps in attempts to j bring about a balance. It is the i present hope that this goal may [ be reached by the end of 1963. I Among the actions which have v been taken are the reduction of the dollar amount which one of i our citizens may bring in duty free from SSOO to $100; trying to get foreign nations to carry a larger share of the load of helping under-developed nations; encouraging foreign nations to bear greater proportions of their military defenses; tying foreign aid grants to purchases in this country to the maximum extent possible, and the same with the buying of military supplies abroad; encouraging more for eigners to travel in the United States; using moral suasion to prevent unnecessary, and espe cially large units of private in vestment abroad; and encourag -1 ing larger exports through pro viding information of foreign markets and offering guarantees against various kinds of losses. ’lt will be noted that in spite of the breadth and length of this- list it does not include a reducing of foreign .aid. Neither President Kennedy nor President Eisenhower has been willing to do this. But both have taken the position that such aid is the best means at our disposal for preventing a further extension of communism; although they have been well aware of the constant stream of examples of the mis- ■ •* ' * >§. Ajm ML J* ™ liPM* "KMb§| $4 -, ft. S E J -;S . JBmH 8B &&W 1 s awPI B&i*v j' •ftMMUMY • 65% 6SMN Nevm MO? • m K PROOF . wm of CALVERT. LOUISVILLE, KY. ▼ Vs 'use of such aid. | The gold loss this year has been substantially larger than in the same period of 1961, but we still have well over $4 bil lion above the amount required to meet our legal reserve re ! quirements. It should be noted, too, that only foreign central banks and international institu tions' have the privilege of con verting their balances into gold. It should also be noted that the U. S. Treasury and the Federal Reserve System have made widespread agreements with foreign central banks to pre sent raids upon any .nation’s | currency and, at least up to the j present, these arrangements have worked well. OUe effect of these agreements has been no run-ups in the price of gold in the London market, such as happened in 1960. Fortunately there has been no general loss of confidence in the dollar, and the talk of possible devaluation through increasing the price of gold has pretty well died down. This was quite notable at the recent annual meeting of the World Bank and the International Monetary Fund. The credit for much of this improvement must go to Robert | V Roosa, the brilliant Under secretary of the Treasury. But, |as he said in answer to a ques tion a few days ago: “although we have been making satisfac tory progress in dealing with j the balance of payments, we cannot afford any complacency.” 1108 Given Old Age Aid In November Mrs. J. H- McMullan, super intendent of public welfare, re ports that during November 108 persons in Chowan County re ceived old age assistance, with a total of $4,400 being distribut ed. During the month there were 39 cases of aid to depend ent children, who received $2,799; 44 cases of aid to permanently and totally disabled who receiv ed $2,148 .and ,1Q aid to blind cases receiving $422. There were two cases of general assistance requiring sls. Five cases were hospitalized in the county costing $307.90, of which the county’s part was $131.90; six cases . hospitalized outside the county, $74.20 and one burial, $25. Harlow Is Named Gates Key Banker Walter H. Harlow, executive vice president of the Bank of Hobbsville, was recently ap pointed key banker for Gates! County. THE CHOWAIT HERALD. EDERTOH. WORTH CAHOUWA, THURSDAY. DECEMBER 6. 1982. [“1961 "T accident facts Another in a *erlei» of <irtide» in I >f Motor Vehicles explores some of •vhich the North Jarolina Department lie signiiicant tacts behind last year’s raffic accident toll. Thirty-eight of the 231 pedes trians struck and killed last year in North Carolina “had been drinking” according to a sum mary of accident facts prepared by the State Department of Mo tor Vehicles. Os the victims, 170 were men and boys, 61 were women and girls. The agency noted in its study that 26 per cent of the pedestrians killed “violated the law or acted un safely” just before death struck. Not in the report, but certainly worth repeating, is the slogan “Control your stroll!” liinch Room Menu 1 Menus at the John A. Holmes High School lunch room for the week of December 10-14 will be as follows: Monday: Grilled lunch meat, buttered potatoes, bread and but ter, buttered corn, ice cream, milk. Tuesday: Beef vegetable soup, cheese sandwiches, peanut but ter and jelly sandwiches, meat salad sandwiches, cookies, milk. Wednesday: Creameqt turkey on toast, cranberries, sweet po tatoes, green string beans, fruit jello, milk. Thursday: Hamburgers, ham burger buns, creamed potatoes, gravy, garden peas, peaches, milk. Friday: Weiners, weiner rolls, relish, pork and beans, cole slaw, cup cakes, milk. Who finds not Providence all : good and wise, Alike in what it gives, and what denies? —Pope. BIYYOUR Se&gcr USED CAR FROM EDENTON Motor Co. 1962 Chevy II "Nova 400': 2-door hard top: only 3.000 miles; fully equipped. 1960 Rambler Classic 4-door deluxe 6- cylinder; straight trans mission; radio and heater. Priced to sell! 1957 Ford Fairlane 2-door hardtop; V-8; straight transmission; radio and heater; good condition. 1956 Chevrolet "210" 4-door 6 cylinder; straight transmission; ra dio and heater; clean. S_—> COME TO ~ EdentonMotorCo. 1122 North Broad Street PHONE 3119 This Is The Law * • \ * £ 'jjevir. . L By ROet-fIT E. LEE (For Iho N. C. Bar Association) Pardons And Suspended Sentences Is a parole the same as a oardon, a reprieve, and a com mutation of sentence? No. The latter are acts of executive cle mency conferred by the Govern or by virtue of his Constitutional authority. Paroles are granted by the Board of Paroles under its Con stitutional authority. Pardons, reprieves,' and commutations of sentences are granted by the Governor. It is the policy of the Governor, however, to refer clemency requests to the Board of Paroles for its investigation and recommendation. What is a pardon? A pardon iS either a declara tion of innocence or an act of forgiveness for a conviction and a declaration of record that an individual is to be relieved from the' legal consequences of the particular conviction. What is a reprieve? A reprieve is a form of cle mency that temporarily suspends, execution of the penalty impos- j ed. What, is a commutation of sentence? A commutation of sentence is ji Everyone Wants a Gift from The Jill Shoppe K Now's the time to choose* from our i; wide and wonderful selection of sure l to please winners. We'll help you bring holiday cheer to that special jj / V one on your list. t Pamper Her With JjPP^ Heavenly Lingerie SHORT IE PAJAMAS . . . All Xylon Tricot in pastel colors A'JffW*j jfe-h yith lace trim . . . Small, medium isiSk waltz-length gown in flame with L li lace trim in Nylon and Rayon. t K\M' A Pastel colors, assorted sizes. jj Beautiful Robes f \ ... warm up to your dreams VI [; that are as snug as they £, |g \| [l fJ If are good to look at .. . MDmJP IV j W I select now for yourself— *: jj for glorious gifting. tCMk « LINGERIE I ... lovely way to gift a lady: of course, she wants lingerie ’ ... especially when it’s as. lovely as ours. ALSO: .SKIRTS ... BLOUSES HOSIERY ... HATS... AND COSTUME JEWELRY the means by which the Gov ernor may reducer the death penalty or a prison sentence. What is a suspended sentence? After the conviction of a per son for any crime, other than one punishable by death or life imprisonment, the trial judge may suspend the imposition of the sentence and place the de fendant on probation. If the judge desires, he may impose a fine and also place the defend ant on probation. A common procedure in appli cable cases is for the judge to impose a fine and a sentence of imprisonment and then suspend that portion of his judgment re ferring to imprisonment on cer tain prescribed conditions. There are probation officers, under the jurisdiction of the State Probation Commission, who investigate and supervise con victed persons given suspended sentences and placed on proba tion. The courts have continuing jurisdiction over suspended sen tences. Therefore, persons sub ject to suspended sentences should apply to the courts and not to the Board of Paroles or FOR RENT] I Two 2-Bedroom Apartments J On North Oakum Street I I - Apply | GEORGE CHEVROLET CO. I EDENTON, N. C. I I the Governor for relief for changes in conditions or termi nation of suspended sentences. Five Leaders In Bridge Marathon I I At the end of the sixth round in the bridge marathon sponsor ed by the Chowan Hospital Au : xiliary, Mrs. Earl Goodwin and i 1 Mrs. Junius W- Davis hold the • | lead. The five leading teams and . their scores follow: , I I—Mrs. Earl Goodwin and Mrs. ■ J. W. Davis, 35.100. [ j 2—Mrs. Oscar Duncan and Mi s. .(Watson Bell, 2(1,940. , i 3 —Dr. Richard Hardin and Joe | Thorud, 28,570. I 4—Dr, and Mrs. David Wright, ' 27,570. c —Medlin Belch and Cecil Fry | fifth round), 24,720. l&feK,-- -bwU. S. y ffllkN SAVINGS plr^ o, * D^ especially with Christmas Club CASH! k JSBe No Christmas money worries for this happy family! They have the cash for their ex penses ... saved each week in a Christmas Club! And they’ll be opening their 1963 account this week. Why don’t you? THE PEOPLES BANK AND TRUST COMPANY Member F.D.I.C. PAGE THREE I—BECTIOW THREE
The Chowan Herald (Edenton, N.C.)
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Dec. 6, 1962, edition 1
15
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