The Ottawa Herald from Ottawa, Kansas on October 19, 1961 · Page 10
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The Ottawa Herald from Ottawa, Kansas · Page 10

Ottawa, Kansas
Issue Date:
Thursday, October 19, 1961
Page 10
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10 THE OTTAWA HERALD Thursday, October 19, 1961 A Ticklish Time For Thrift Week By SAM DAWSON AP Business News Analyst NEW YORK (AP) - This is National Thrift Week and it couldn't come at a more ticklish time. Those who should be happiest about it are worried. They fear the accent is going to be on spending, much as that will please a lot of people on the other, or selling, side of the fence. True, people have been saving more of their net income after taxes than usual, especially when industry has recovered from a slump, when work weeks have lenglhened, and more people are employed than awhile back. The President's Council of Economic Advisers reports Americans were saving at an annual rate of $25.8 billion in the April- June quarter. So you'd think the thrift industry would be happy. This industry roughly consists of those who offer a harbor for your savings, whether it be in bank accounts, insurance, pension reserves, savings and loan accounts, credit unions, federal savings bonds, or the many fields of investment open to the small income family. But right now many of those who invite your savings—mostly with higher interest rates -than just a few years back, and often with premiums and gifts—see a change under way in your habits. They note that spending plans are hatching, if one can trust the various polls of consumer intentions. More concrete, they see in- stalment debt turning up a bit after a period of decline. Some caretakers of your money report that withdrawals are running ahead of deposits. So the thrift industry is stepping up its promotional drive. Your banker grows friendlier all the time, and not just during National Thrift Week. Convenience is the slogan at many thrift institutions —the aim to as easy— almost—to save as to get into debt. And the interest rates paid on savings are in many instances as high as the local laws allow. The sellers aren't idle either. Promotions for many items are gaining momentum as the cooler weather brings out the spenders, and as the industrial recovery puts more money . in many pockets. Economists on the sidelines— that is, employed neither by banks nor consumer goods mak- ers ana seners—say there is room for both in the present economy. Saving is essential to a healthy economy. And so is increased spending for economic growth. With national income rising, both are possible. But since this is National Thrift Week, let's listen to a Champion of thrift. He is C. Elwood Knapp, president of the United States Savings & Loan League, whose members want you to save more so they'll have more to lend to those who want to spend—for new homes or whatever. "The habit of saving money," he says, "is a vital double factor in raising our standard of living. It is the best means of bringing to each individual the things he 1 wants most and, at the same time, his savings provide the capi- al needed for continued national economic growth." That would seem to take care of both sides of the saving-spending business. But like many other businessmen, Knapp would like to see the government help by creating incentives. "In a number of European countries," he notes, "the governments have encouraged thrift by allowing tax deductions for some amount that is saved or used for payment of life insurance premiums. Another widely used device is to make earnings on savings accounts tax free." Bomb Protest Is Rejected OTTAWA (AP)- Prime Minister John G. Diefenbaker said on Wednesday night Canada had attempted to lodge a protest with the Soviet government over ita announced intention to explode a 50-megaton nuclear bomb but it was rejected. Diefenbaker told a newsman the protest .had been rejected by the Soviet Embassy here on the ground that the bomb launching was a domestic matter. Pick Yourself Thirty-two Chinese farmers, who risked their lives to escape the mainland of China, eat their first meal since finding refuge in Hong Kong. Hong Kong Church World Service under the Reverend Elbert Gates, Director, arranges to give them and thousands of others all the help that the churches can give. Each year, CROP, the Christian Rural Overseas Program, supplies many tons of food, especially corn oil and syrup, powdered milk, and wheat through Church World Service to hungry people in Hong Kong. ''///A NABISCO GOLDEN GLOW VALU SUNSHINE CRACKERS 2 .49 2 at 49 63 FIG BARS BUFFERIN •*: >>*•" HY-KLAS FANCY INDIANA Tomato Juice 4 89 Bottle of 60 HY-KLAS FANCY GRAPEFRUIT JUICE4 89c HfV«rTr»~- r - - ---••^^^ FRYERS TOMATOES 7 VALU CORN VALU Green Beans 8 303 Cans 303 Cans 303 Cans $ VALU Pork *,,, Beans 10 VALU PEAS VALU SLICED PEACHES 4 303 Cans 303 Cans NO. zy 2 Cans HY-KLAS BREAD 2 16-Oz. Loaves HY-KLAS 100% CORN OIL OLEO 2 49 VALU IMITATION SPREAD CHEESE 2 59 Whole or Cut up 23c Lb. ALL BEEF BACON SALE OLD FASHIONED Bacon Squares,,., 29c HICKORY SMOKED Slab BACON , 39c VALU CELLO ROLL Sliced Bacon 3,.,. 1.15 HY-KLAS FANCY Sliced Bacon ,,, 59c HY-KLAS THICK Sliced Bacon 2 £1.15 HAMBURGER COUNTRY STYLE SAUSAGE Lunch Ham SKINLESS Wieners LEAN SHOULDER Pork Steak FANCY FLORIDA 5 5 POTATOES C $ 2.59 CUCUMBERS FARM FRESH RADISHES Ea. Cello Bag RUSSET LEAN MEATY SPARE RIBS u, 35c HEAVY BAKING HENS TOWN FOOD MART PIIHTY FREE PARKING 117 N. M Al N OPEN WEEK DAYS 8AM 1o 6PM SATURDAYS 8AM to 8 : 30 PM FRONT I BACK DOOR ENTRANCE & CHECK OUT

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