THE NEXT
TEN YEARS
Babson Says Long Range
Forecastisg Necessary
By Roger W. Babson
Babson Park, Mass., June 30. ?
While I have built my business
on the long-pull
outlook, I ordi
narily confine
my newspaper
predictions to
periods of not
more than a
year in advance.
?However, in
view of the very
broad changes
which are tak
ing place in U.
S. business and
political econo
my, I now feel it BABSON
advisable to look, much further
ahead'.
GENERAL BUSINESS
OUTLOOK
Re-negottation in most instan
ces is not the wolf that most war
producers thought It would be.
Re-conversion to peacetime oper
ations is, likewise, well in hand.
While this may temporarily dis
rupt labor and interfere with pro
fits, the change-over will be grad
ual and is already under way. It
should not adversely affect busi
ness or the stock market. Hence,
for the first few years after the
formal ending of World War II,
good business In most lines should
be in order.
Industrial activity and produc
tion during the postwar period
should run about 50% above pre
war figures but will, of course,
show a decrease from the peak
of war production. This drop,
however, is already being absorb
ed in hiany lines without fuss
for the peak in war production
was reached almost a year ago.
National income, represented by
wages, rents, Interest, dividends,
etc., will probably average around
$112,000,000,000 per year. This
will support a large volume af
business. Living costs may rise
25% but if so those who now pur
chase well selected securities
may perhaps get enough capital
gains to offset increased living
costs.
NEW BUILDING
With a high level of national
Income, plus accumulated savings,
I cannot see anything except a
very large volume of retail sales.
Such sales have expanded great
ly during the War, but I believe
in the postwar years that they
may exceed in dollars their war
time peak. Plans for the renew
al of automobile production are
being carefully worked out. A
year or two after the War, pro
duction may' approach 6,000,000
cars a year for two or three years.
In Addition, all sorts of house
hold appliances, home furnish
ings, automobile accessories and
other hard goods, along with an
abundance of soft goods, will be
available. These all will be in
great demand.
I fully expect, in the decade af
ter the War, to see close to 6.
000,000 new homes built. This
will naturally be a great thing
for both skilled and unskilled la
bor and should do much to keep
up activity In the, cement indus
tries, which last will also benefit
from our new roaa-building pro
gram. Homes are currently in
great demand and ifrices ? partic
ularly in suburban communities ?
are expanding rapidly. It looks
very much as though we would
experience a real building boom.
This la likewise true of produc
tive real estate In general. I
cannot now say that tbe entire
country will participate In a land
boom, but Florida, the South
west and California now seem
headed In that direction.
OUR BEST BET
After the Immediate and inevi
table readjustments which the
end of the War will bring, busi
nessmen should not be too much
concerned with worrying over the
following four years. Our real
problqpi and task will be to de
termine how our coming prosper
ity can be extended after 1950.
In the early 1950's we will begin
to gee signs of distress. It will
be much harder then for business
to provide reasonably full employ
ment within the limits of our fre6
enterprise systenj. Furthermore,
the postwar Inflation which many
are now worrying about may take
place at that time. -
We shall not always be able to
depend upon Washington to main
tain our property or to provide a
solution to our economic prob
lems. Beyond the postwar de
cade, the future depends upon
the character and education of
our young people and upon the
intelligent and far-sighted guid
ance of us parents and grandpar
ents. Yes, I am optimistic for
the next five years, but during
that period we should prepare
for another era of declining real
estate, bond, stock and commod
ity prices, accompanied by gener
al unemployment after 1950.
ODT has warned truck opera
tors that there will be a shortage
of heavy and medium duty truck
tires for replacement purposes
during the next 3 months. It al
so urges truck operators to keep
their vehicles in proper repair
and thus make them last much
longer.
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DEAF
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Vacolites are adjusted, to
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HOME FURNITURE COMPANY
LOUISBUBO, N. 0.
YOUR DEALER
Until D Day
Becomes V Day
In the Army's Air. Transport
Command, Wacb assigned to re
cord files duty in the ATC have
their hands on the very pulse ot
the gigantic air service that!
moves men and equipment over|
vast reaches of land and water.
The records In an ATC base file
section are alive, up-to-the-min
ute news accounts of the day to
day progress of hundreds of
flights that are winging us on to
victory.
File clerk is just one of many
jobs being performed by members
of the Women's Army Corps as
signed to the Air Transport Com-,
mand. The Wacs ot the ATC|
are doing their work wltt\ the
precise ability characteristic of |
the American Woman?
There is an opportunity today
for Wac enlistees to choose not
only "the job to which they wish
to be assigned, but the branch of
service ? Army Air Forces, Army
Ground Forces, and Service For
ces ? In addition to the . Army
post or station at which they will
commence th^ir duties as Wacs,
within the Service Command In
which they enlist.
Women who are between the
ages of twe.nty and1 fifty, Amer
ican citizens, without dependents
under fourteen years of age and
with a minimum of two years'
high school education, are ellgl-j
ble for enlistment in the Wac. In j
cases where substitutive qualifi
cations exist, the educational re
quirements may be waived.
Mayor W. C. Webb, Civilian
Recruiter (or Louisburg, states
that now that the long awaited
thrust in Europe has begun, H
hour and D day is here now (or
the women of our country.
Thousands already are wearing
the uniforms of their brothers,
thousands more are needed. With
the ever increasing casualties
mounting dally, women are need
ed not only as replacements but
must be ready and trained to
care for the wounded, the crip
pled, the maimed.
MORE OIL
Raleigh. June 28. ? Household
ers who heat tiielr homes only
with oil heating stoves will be
given extra fuel oil allowances
equal to 10 per cent of their re
newed fuel oil ration for heat
when children under 6 years of
age live in the household, Theo
dore S. Johnson, Raleigh District
OPA Director, said today.
This allowance may not ex
ceed the amount that is allowed
for the same purpose In homes
heated by central heating plants.
This amount Is 50 gallons In
North Carolina. Children's allow
ances this year for all types of
heaters are about the same as last
year.
Today's action makes an excep
tion to the general rule that not
more than 550 square feet of
floor area may be counted for
each oil heating stove in determ
inlng the amount of the fuel oil
ration. In North Carolina the
celling for all types of non-port
able oil stoves is increased to
950 square feet. This takes into
account the milder temperatures
of the South, where larger floor
areas can be heated with a single
stove.
With this action, the special
limit of 1,100 square feet for non
portable heaters equipped with
fans or blowers was eliminated.
TO THE FIRE DEPARTMENT
I would like to thank each one
for the promptness and consider
ation shown in answering the
call to my home on Sunday. '
MRS. PATTIE PITTMAN.
? On Pay Day, Buy War Bonds ?
IF YOU SUFFER FROM
ARTHRITIS
or Rheumatism, you can now do
something about it! Medical sci
ence has recently come to the
rescue with DMC PRESCRIP
TION No. 49. Try this remark
able new medicine or two weeks
and you'll be surprised at the re
sults. There is absolutely nothing
on the markcf so effective for
the treatment et Arthritis and
Rheumatism as DMC PRESCRIP
TION jlo. 49.
BODDIE DRUG STORE
Loulsburg, C.
ATTENTION FARMERS
We are now ready to receive the
New Wheat Crop.
WE WILL EXCHANGE YOUR WHEAT,
WE WILL STORE YOUR WHEAT, OR
WE WILL BUY YOUR WHEAT AT THE
MARKET PRICE.
GIVE US A CHANCE TO HANDLE IT FOR
YOU, AND FOR SATISFACTORY BAKING,
TRY OUR ZEB VANCE, VANCO AND VAN
ITY FAIR FLOUR.
Vance Milling Company, Inc.
(Old Vanco Mills)
HENDERSON, N. C.
L. M. Bullock, Pres. W. J. Alston, V. P. & Treas.
Patronize TIMES Advertisers ? On Pay Day, Buy Boa da?
THIS is Invasion! Now in the hearts, brains and muscles of
our American Youth lies the future of our country.
Bow your heads. Pray with millions of mothers the country over, as their
hearts reach out over the seas, each one seeking out her boy, to protect
him with the shield of her love. |
Believe that in this world there is definite strength in decency and honor.
Believe that in our devotion there is moral force. Believe that our will
to victory will aid that victory.
V
Seek and ye shall find!
Let us seek added strength and fortitude for our men in our own sacrifice
and devotion.
Let us focus every thought, every action, and every prayer on the boys
fighting for us.
And, while each one bends to his task with ever-growing fervor and
energy, let us adopt a common symbol as our faith in Victory.
Let that Symbol be War Bonds. Let us pour our money in a gigantic
flood of goodwill toward our sons and brothers, as a spiritual shield for
them. t
This is the Invasion. The lives of our boys are at stake. Let them see that
the Soul of America is with them.
Let it not be too late ? ? ? not nextmooth, next week, or tomorrow, but
today ... now.
- , M, *
Buy Your Invasion Bonds Today
*5? WAR LOAN This is an official U. S. Treasury
advertisement ? prepared under
auspices of Treasury Department?
?od Was Advertising Coopott
FIRST-CITIZENS BANK & TRUST COMPANY
Louisburg, N. C. -- - Franklmton, N. C.