Peanut Crop Is
Hear Record Low
The 1953 North Carolina pick
ed and threshed peanut crop is
currently estimated at 203,500.000
pounds—unchanged from the Oc
tober 1 estimate. A crop of this
size, if realized, would be the
smallest in twenty years and 35
percent below last year's produc
tion of 311,590,000 pounds.
A reduction in acreage of 8
percent or 16.000 acres from last
year accounts for part of this de
crease in production. However, a
decrease in yield from 1,550
pounds in 1952 to 1,100 pounds this
year is primarily responsible for
the lower production.
WestinghouSe liet is up 13.2 per
cent on biggest sales in history.
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Include! engine, lender, gondola, box Other Models
car, caboose, transformer and track. to $70.00
1995
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Engine goes "chug
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All *»*••
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i; PORTABLE | Q99
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Moting Bade T«
Easy Money. Plan
—$—
There are many indications tha
the Administration is turning
away from its misnamed "hart
money" policy, back to the "east
money" policies of Democratic ad
ministrations. For one thing, in
flation has been checked substan
tially SiTd'Vi'rf'T'.s- rrj? .'wsas'itm
for many of the anti-inflatior
measures adopted by the Republi
can Administration.
For another thing, the problem
of balancing the budget is continu
ing to defy solution and when the
government is spending marc
money than it takes in, an easy
money situation is almost certain
to de velop. There are also indica
tions that fhe Treasury, and Re
publican leaders, became some
what disturbed this Spring when
business seemed to be receding a
bit unexpectedly. At that time
the Administration took its first
definite action to ease the money
supply, and since then, has shown
it is highly sensitive to any re
verse trends in the business world
The recent news that the cost oi
living had, reached a new high
and that the debt ceiling of $275,
000,000,000 was almost certain ti
be raised in 1954, lent emphasis tc
the rasy-money policy, which is
likely in the next year or two. A
great deal of publicity has alsc
been ' devoted recently to the
theory that the government debi
ean be reduced most convenient!)
if a policy of gradual inflation is
followed.
As a matter of fact, a policy o;
gradual inflation has persisted it
this country since its founding
That is true with nearly ever)
country in the world and seem:
to be an evolutionary financia
development. In brief, the deb
is reduced by the natural workint
of this system, as follows: The na
tional debt is $275,000,000,000 ir
1954 and the national income i
$70,000,000,000. If a period of gra
dual inflation is followed, as ha:
always been the ease in the Unite<
States, thirty years from 1954, thi
national debt might remain abou
the same (barring a new Work
War) and the national incomi
would have perhaps doubled. This
in effect, would reduce the ratii
of the national debt to national in
come considerably.
Faced with continued heavy de
fense spending and an unbalance!
budget in tile immediate year
ahead, the present Administratioi
evidently prefers an easy-mone;
policy, and possibly a norma
amount of inflation, to a hard
money policy, and possible defla
tion.
-$>
Mi
Billion Dollar
Drop For Fartnei
—»—
The Department of Agricultur
recently estimated the nation'
farmers would receive a net in
come of tfbout a billion dollars lef
this year than they did in 195!
The Department estimated th
farmers’ net income at $12,500
000,000 this year.
The Department also estimate
next year’s net income would b
fibout the sarrte as in 1953. Oro?
income next year might be down
bit, according to the Departmen
but expenses are also expected t
be reduced during 1954, thus lea1
ing the net income about the sam
While it is true that farm ir
come is only a small per cent <
the total national income, that ir
MOMS MM
... to tell him all about the
friendly atmosphere at the
Roanoke Lookers. Your
every need is attended to
courteously and promptly.
BElUMni US FOR
YOUR TURKEYS
THANKSGIVING
ROANOKE
LOCKEBS INC
Cv\ HAUOHTQN i. GRACE ST5
1 I*
corhe comprises twice the percent
age of national buying power, in
normal years, that it does as total
income. Therefore, the effect of
lower farm income is a heavier
impact on the national economy
than one would suspect, judging
from the fact that total farm in
come is less than ten per cent of
the total national income.
The Department’s prediction
that the situation next year will
remain about the same is certain
and if the prediction proves ac
curate, opposition to the farm
policies of the present Adminis
tration is sure to continue. As yet,
the Department of Agriculture has
shown little inclination to make
an effort to raise farm income
back to the level of 1952, and no
doubt the Democrats will set this
as their goal in the political ora
tory of 1954 and 195tt.
Making Study Oi
Vehicle Wrecks
——
Raleigh—The Department of
Motor Vehicles began the second
phase of its year long study of
injury producing automobile acci
dents this week. For the next 60
days highway troopers in the
Cumberland-Bladen section of the
state will photograph every crash
.involving a fatality or personal
j injury and submit the prints along
| with a detailed report to research
specialists of the Cornell Medi
cal College. The information thus
collected will eventuujly form-the
basis for automotive redesign re
commendations. The current
phase Of the project is under the
direction of Captain D. G. Lewis,
commander of State Highway Pa
trol Troop 8 in Fayetteville.
Better Living
For You
Bottled gas is your quick,
1 low cost solution to cook
j ing end heating prob
lems. Phone 2572.
i
SERVICE
C'OOV! fine twT R
I
Farm Mortgage
u Debt Increases
—«—
The Federal Reserve Fifth L)is
U'iet fjim mortgage aeht on Janu
ary 1,1953, was estimated at $397
million, highest evoi recorded in
this area. Tins was 11 percent
above the $357 million oulstand 1
Jne a vear earlier and $164 mil
i lion or some 7ff p;TcVaTT'flthre than
ton January 1. 1945 when the debt
| in this area reached a 34-yeai
| low. These increases are similar
! to. though some-what larger than,
j those for the country as a whole
Adi groups of lenders increased
their farm-mortgage holdings dur
ing 1953. The Farmers Home Ad
ministration with a 16 percent in
crease ove rthe previous year,
showed the biggest gain; indivi j
| duals and miscellaneous lenders)
were second with a 13 percent in
crease; holdings of both insured
commercial hanks and life insur
ance companies gained 8 percent;
and the amount held by the Farm
Credit Administration rose 7 per ,
cent.
During the eight years since the
34-year low was reached, com-1
menial banks have recorded the
nun i fi unnuLUir
percentage increase .if any I
lender group in the District, their
hc'dings of farm mortgages now
being almost two and a half times
as large as at the beginning of
19-15. Ry comparison, the amounts
of farm-mortgage debt held by
insurant e r.vmparue and indrVi
duals and miscellaneous lender s, j
the latter two grouped as one, !
have slightly more than doubled,
r HA iBjnrimti IISi-T b» j.( -I
while this type debt held by the
Farm Credit Administration has
decreased by about a fourth.
There has also been consider
able change throughout the Dis
trict in the proportions of farm
mortgage debt held by the. princi
pal lending agencies. Individuals j
and miscellaneous lender now}
hold nearly half of this type debt |
as contrasted v\th 118 percent in J
1945; commercial bank holdings
currently equal about a fourth of
tlie total compared with a sixth
at the earlier date; shares held
by insurance companies have in
creased slighth ; while propor
tions held by the Federal and
federally sponsored agencies are
now about one fifth ot tire total
as against two-fifths in the ear
lier period.
FIRST WITH
GLASS
If e SfH'ci'tlise In
SAFETY GLASS FOR
CARS AND TRUCKS
We sell tin* best quality glass anil we'll
• ill il any size for ears, furniture or any
other purposes.
Iff'// Save V on Money!
WILLIAMSTON PARTS
AND METAL CO.
Factory Layoffs
Are Increasing
Factory layoffs have been ris
ing since mid-year from the low
rate of late 1952 and early 1953.
the Bureau of Label Statistics of
the Department of Commerce re
ports Manufacturing lirms let out
workers during September at a
• C >•„
compared with 13 per thousand
in August. Hiring rate was 40 per
thousand employed in September;
43 in August.
Added layoffs were more mark
ed in the durable goods indus
tries group, said the Bureau. Au
tomobile makers. machinery
plants, and primary metal refin
ers were particularly mentioned,
F.von so, the rate of separations
remains remarkably low by any
standard except that of the post
war boom. Time was when Sep
timber saw the satellite auto
plants, which together employ as
many persons as the primary fac
tories, almost wholly shut down
as the last of old models
were beginning to rtin off fhe as
sembly lines.
More than 1800 North Caro
lina communities, including some
countii are served only cy
trucks.
1 isit
YEARS
OLD
.30
plw
STRAIGHT BOURBON WHISKEY. SIX YEARS OLD. r*OOF.
OLD QUAKlR DISTILLING COMPANY. LAWRENCEB»'RG. INDIANA
Thrill Maker from start to stop 1
Sometime soon — tike this week —
you ought to try a Bui<^ »'th
Twin-Turbine Dynaflow.*
"You ought to try it just to be familiar
with the great advance in this fully
automatic transmission that Roi^l
engineers have accomplished.
You ought to try it just for the fun 01
bossing -a- drive- where you don’t do *».
blessed thing but steer and press the
gas or the brake pedal as you go
But, pure and simple, you ought to try
It for thrills.
We mean the thrill of instant getaway
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We mean the thrill of whisper-quiet
— where you barely hear
*Sm£Wo« Raoimejtee, upwaiMT * tort on other Seriet.
the sound of power build-up, or of flow
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And, most emphatically, we mean tne
thrill of perfect and sublime smooth
ness from start to stop — the thrill of
moving from standstill to and through
ill travel ranges in one, progressive,
Infinitely smooth forward “carry”
without u gear ever shifting or a clutch*
pedal pushed - flit? thrill, nyvcfy tound
elsewhere, of silky smoothness in
deceleration, too.
Will you be our guest at a sampling
of a Buick with TT Dynaflow?
Will you try the sweetest, the smooth
est and the simplest-to-operate auto
matic transmission yet devised — and
powered by the highest-compressior
engines in Buick history, including tht
world’s newest VR In Super and
HoAiiMASTEK models?
Drop in on us this week and we’ll bo
happy to accommodate you
It’s Trade-In Time
for a Better Deal
You'll be thrilled with the top aBowance
in and see us for ttw happy news—non.
We can Khre m innuediote delivery.
Wham brfftr owtomobifei an buih Baitk wW MM thtm
THS OMSM7/ST
BUICK =
f mm TV TutHdoy *v#«lng*. Alio, *v*ry Saturday, tun* in rn* it roornan uomi o» wm "-7 ■
Chas. H. Jenkins & Co., Inc. Of Williams ton, Inc.
Highway No. 17
Phone 2147
Wliiinmuthit, N. f.
J
I