Newspapers / The Perquimans Weekly (Hertford, … / Nov. 14, 1952, edition 1 / Page 3
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TttE rSSQUIXANS WSSXLT. ES3TF0KD. N. ft. FRIDAY. NOVEMBER 14, 1952. PAGE THREE d ' Hlc3 SEiovs FuibK "Amdi ' Private $3O0) 33'iC Billions The growth of the economy', over the part decade has been accompanied by the greatest splurge of borrowing in the nation's haatory. The -total of debt in the United States public and private together has expanded near ly ..threefold, : and by an amount of approrimately $400 bllHoiw, in the period from the beginning, of World War U in 1939 to the present Considering the dangers aiiii bur dens involved in debt of the pres . ent extraordinary size, it must be recognized that much of the ability of the economy to service and to sup port it is predicated on a continued high level of economic activity. To date this great rise in aggregate bor rowings appears to have been maltch ; ed by a comparable growth in such debt-iupportang elements as national and individual income, savings, assets of borrowers, etc., as judged by a comparison of present and past re . latdonships between these factors and " the total of debt ., i , Threefold Rise In Period ' Figures compiled by the U. S. De partment of Commerce Bhow . that gross public and private debt com bined rose from an aggregate of $209 billions in 1939 to more than $600 billions at the end of 1951. The increase last year alone exceeded $40 billions, or a tenth of the gain for . the 12-year period. Both proportion- ately and in dollar amount, the growth In debt for the period as a whole has been greater in the area of public finances, due primarily to the way the Federal , debt has skyrocketed, than it has been in the private sector of the economy. Figures of jtftis size are just beyond the average person's comprehension. A simple gauge of what has happen ed in the area of debt is found in the fact that in 1939 the gross amount owed by Government (Federal, State and local) business and individuals, all put together, came to the equiva lent of $1,600 for every man, woman and child in 'the country at that time. The comparable figure now, with all our population increase, is $4,000, or two and one-half times as great. Borrowing Shifts In Decade The records of the past 12 years of debt expansion show an interest ing shift in the source of borrowing between the first part of this period and the years since the end of World War tt The dominant factor in the heavy borrowing of the years from 1939 ' through 1946 was the Federal -Gavernmenudue ia-jJwjJUt,,. result the total pubEc debt rose more than fourfold in this period while ag gregate private debt increased by only . about 12 per cent This situation was reversed in the period from 1946 through 1981, when private borrowing came to the fore while the total public debt showed a net decline. - Reflecting . record industrial , ex pansion and the rush of consumer buying after wartime, shortages, the total of private debt practically dou bled in these six posWWorld War II years. Right 'now; aggregate, private debt is larger than total public debt for the first time in a decade. One indication of " the debt-supporting ability of the economy can be de rived from the relationship between the trend of economic activity in gen eral as measured by national income and combined public and private debt The records show that -total debt was about two and one-half times the nat ional income in 1929. Durinsr the Thirties, due to economic conditions in this period, the ratio was very much higher and in 1933 aggregate debt was nearly five times the 'national in come.1 ;'.A:-':- Cash Assets Versus Debts However, economic activity has shown a greater rate of growth than has aggregate debt for the 1939-1951 period as a whole. Ag a result, com bined public and private debt at the end of last year was the equivalent of little more than twice the national income. '. With all the private debt expansion of recent years, savings of business individuals have shown an even great er growth for the 1939-51 period. ; : MINUTES OF MEETING BOARD OF EDUCATION The Perquimans County Board of Education met in regular session on Tuesday, November 4, 1962, at 7:00 P. 01. Mr. C. C. IChappell was absent (Chairman J. E. Morris presided. A committee representing the Jun ior Class of 'Perquimans High School appeared before the Board to discuss the Jumor-ISeniof banquet' The com mittee presented the following re quest: fThe Junior Class would like to .have the banquet and dance ithe same night in the gymnasium and 'would like !to invite guests to 'both the banquet and the dance." 'After discussing the' request the Superintendent was authorized to meet with the Junior Class to discuss plans for the Junior-Senior banquet acceptable to both, this Board and the Junior Class, stressing he fact that a Junior-iSenior (Banquet should be. "BILL" HICKOCK" TOPIC OF REVEALING (ARTICLE : Was Wild Bill Hickok the Old West's foremost champion of justice, ox actually a cold-btoodect killer? Ste wart Holbropk. well-known historian and author, provides the answer in The Riddle of Wild Bill Hickok," eatured in the November 23rd issue of the NEW AMERICAN WEEKLY ' Magazine in Colorgravure With The - BALTIMORE SUNDAY AMERICAN Order from Tour Local (Newsdealer GAS RANOf , LOW DOWN . '. PAYMENT. fcsf o r i for a limited tint Di'-:::o ova . ij- .79 today on this modJm llosie Chef 5 t cr: J aa well as it look. Streamlined con- ? 1 " a. . , t j7 l5ti, easier' cooking. Cbeck s 4 VSlfDnwr 7 , LTet to rtrsass Ulji ZJLzil and is, a school activity for the Junior and Senior Classes. The lunch room committee report ed on ithe progress being made In the school lunch rooms. The chairman asked that - this committee be con tinued.'- r-Jy-t After discussing length of Christ mas holidays they were set as be ginning at 2:00 P. Of., on December 19 and ending At 8:45 A. M., December 31st Motion rwas made, seconded and passed approving Ithe expense of Sir. Gurkin to attend the driver eduba- :tion course at East Carolina College from November 10 through (Novem ber 14; 1952. , The Board approved the fee of $10 to the State 'School Board Associa tion. . " ' The Superintendent extended an in vftaition to the board members to at tend the Schoolmaster's Club on Mon day, November 10. ; v JOHN T. BIQGERS, Secretary Negro Federation Meeting Held Thurs. In Gates County The iEighth Annual Federation of the Northeastern Distrdcfc Home Dem onstration dubs for the Negro Di vision was held Thursday, (November 13, at Buckland High School, Gates, North Carolina. The program started t 10:30 1A.M. (Mrs. Corinne Giims- ley, Extension Specialist in Family Relations was the gueat speaker. Mrs. Retha Chesson and daughters from Chapanoke Home Demonstration fClub represented Perquimans County an what the well dressed family wears to church in ithe district style show. Eighteen counties were represented n the style show. 1 The music was furnished by North eastern District Chorus. . Friendship is the only cement that will ever hold the world together. 1 ' Woodrow Wilson FOR SALE The homeplace of the late L. W. Norman and the present Josephine Norman, situate on the corner of Market and Covent Garden Streets in ithe town of Hertford, will be of fered at (public sale to the highest bidder for cash at 11 o'clock A. M., on Friday, November 14; the said sale to take place at the property. The owners, of the property re serve the right to reject any and all bids. This the th day of No vember, 1952. ' NORMAN & NORMAN Attorneys For the Estate ; of L. W. Norman . r yt 8-CUBIC-FOOT FOOD FREEZER With famed G-E sealed-in refrigerating system. ' More than 2,700,000 G-E refrigerating systems have been in use i0 years or longerl Convenient Terms Model NA-8 illustrated Also available in 11-cu-fl size SAVE $120 A YEAR ON 100D BILLS! There's nothing to it, with General Electric Food Freezer! For you can buy food In quantity wfun its cheapest -freeze it and store it! You can buy frozen foods by the cue. You can freeze foods from your own garden! BUY A DEPENDABLE f OOP fREEZERI And that means General Electric! Hen are Just a few things you gstt IMbeete tSO U f fcwM foe wMotwtlsg tytM Wkiffm huuloiiea a Urn & Come in and seo them today! SEE CHARLIE UMPHLETT AT Hertford Motor Company HERTFORD, N. C. Authorized Deafer GENERAL ) ELECTRIC FOOD FREEZERS 'You always get a . p.. WITH CHEVROLET TRUCKS! Dottor Buy Now! M:. JAP'0"' ' WA r (CiiihiiHIH"II , J- A better deal because . . . Every Chevrolet truck is factory matched to the job-with the right power, the right capacity, right engine, transmission, springs, axle, and tires to do its work at the lowest possible cost. Come in and see for yourself what a wonderful deal you'll get with a great new Chevrolet truck. A better buy because THEY LIST FOR LESS Production economies, possible be cause Chevrolet is the world's larg est truck manufacturer, let Chev rolet trucks list for less than com parable models of any other make. LOWER OPERATION AND ' MAINTENANCE COST Valve-in-Head engine design; strong and sturdy Hypoid rear axles; Flexi Mounted cabs; rigid, channel-type frames; single-unit rear axle hous ings; Unit-Design bodies and many, many other features reduce costs and increase the life of your Chev rolet Advance-Design trucks. TRADITIONALLY HIGHER TRADE-IN Chevrolet trucks keep their value longer-proof of the greater value built into Chevrolet trucks and wonderful plus at trade-in time. MOM CHIVftOUT RUCKS IN USI THAN ANY OTKS MAKZI Phcr.2 2151 IIcrtfcrd,N.C i
The Perquimans Weekly (Hertford, N.C.)
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Nov. 14, 1952, edition 1
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