EDITORIAL- Ikes Veto Secondary Record of Importance Considerable importance naturally attaches to the vote in Congress to override the veto of the billion 216 million dollar "pork barrel" bill, recorded last week. By I he narrow margin of one vote the presidential veto was upheld. Thus Mr. Eisenhower's record of novel - having a bill passed over his veto was held intact. And much has been made of that record. But there is another phase of the vote to override the veto which likewise might well be deemed of great significance. It should be noted with considerable emphasis there were enough members in the Mouse to uphold President- Eisenhower in his drive to preserve a sound economy, although it was a manifestly narrow squeak. President Eisenhower vetoed the colossal "pork barrel" measure on the grounds in its final form the bill included some 67 new projects of construction which he hadn't recommended and for which it would be extremely difficult to provide financing. The bill, of course, included something for almost everyone, at least almost all Congressmen. It would have provided funds for extensive construction projects in Iowa, in behalf of flood control and the expansion of rural electrification lines, among perhaps other proposals by no means without genuine merit on their own individual footings. Such for reaching legislation is looked upon as "bread and butter" by most Congressmen for it presents a splendid opportunity for them to travel about their home districts and point with pardonable pride to their accomplishments in behalf of the folks at home. So it becomes 3 Times Herald, Carroll, la. Tuesday, Sept. 8, 1959 Busy Cooks' Delight Printed Pattern somewhat of a political phenomenon to witness a sufficient number of Congressmen giving first consideration to national interests and the overall economy as against personal and sectional interests of a selfish nature. It should be pointed out too, that no credit can go to the Democratic party for the demise of the "pork barrel" bill. Speaker Rayburn predicted he could count enough votes to override the Eisenhower veto and exerted every resource at his command to gain that end. Of the 274 votes to override, but one less than the required number, 263 of them were by Democrats. Only six brave i Democrats, none from Iowa, inci- dently, voted to uphold the veto. A total of 143 Republicans in the House, all but 11 on the minority side, stood with the President for a sound dollar. That the President's veto was upheld then is not so important because it maintained an Eisenhower record of never having a veto overridden. Of much greater importance certainly is the reassurance to be found in the fact a sufficient number of Congressmen declined to enhance their own selfish interests at the expense of excessively mortgaging the future of the entire nation. • DR. JORDAN SAYS * By EDWIN P JORDAN, M.D., Written for NEA Service Shortness of Breath, Sign of Congestive Heart Failure I find that many readers are so important to find out the de- confused by the term "congestive gree of congestive heart failure, heart failure." Thus H. A. asks j that is, how serious the heart fail- for the meaning of this term, how j ure may be. From here on the phy- serious it is, and what can be done sician often employs methods aim- for it. | ed at increasing the pumping pow- 'Congestive heart failure can be ! er of the heart, at lessening the described as a condition in which ; back pressure against the heart, the heart fails to pump enough blood sufficiently rapidly throughout the system. The first sign of this failure on the part of the heart is usually shortness of breath fol and at increasing the elimination of water and sodium through the kidneys. Many methods are used to accomplish these results, including lowing exertion or exercise which \ the use of digitalis or like acting formerly did not cause such heavy j drugs. Although congestive heart breathing. If the heart failure gets j failure must always be considered worse, it is followed by accumula- \ as a serious condition, physicians tion of some fluid in the lungs, often accompanied by a cough and Nobody Takes Humorist Mort Sides Sahl 1 arc frequently able to do much for it and thus prolong life and add Thoughts But you, beloved, build yourselves up on your most holy faith; pray in the Holy Spirit; — Jude 1:20. Faith is the daring of the soul to go father than it can see. — William N. Clarke. s—io-i2 r\ r~~~^ M-14-16 \ \ J \ 1-18-20 ^ C, y Coverall busy, cooks prefer—no stnips to slip off, no untidy ties! Whip up several In cheerful cottons --diagram shows how easy tt Is to sew. Tomorrow's pattern: Half size fashion. Printed Pattern 9387: Misses' Sizes Small (10, 12); Medium (14, Iti); Large (18, 20); Medium takes 2'j yards 35-Inch fabric. Printed directions on each pattern part. Easier, accurate. Send Tlilrtv-five cents (coins') for this pattern—add 10 cents for each pattern for first-class mailing. Send to Marian Martin, Dally Times Herald 25 Pattern Dept., West 18th St.. New York 11, N.Y. Print plainly NAME, ADDRESS with ZONE. SIZE and STYXE NUMBER. FTC Starts New Policy of Exposing Gyp Artists BY PETER EDSON NEA Washington Correspondent WASHINGTON -(NEA) —"Consumer Alerts" to warn the public of flimflam offerings by unscrupulous salesmen are now being issued by the Federal Trade Commission when occasion warrants their release. Among the gyps exposed so far are: "Twenty-five dollar French perfumes," made some place west of Newark. N. J., where they were put up with a label showing the Eiffel Tower and sold for $3 a bottle. "Forty-two gorgeous rose plants" containing not a single rose, offered by a Michigan nursery for $2.98. "Satin umbrellas" made of rayon and acetate. Under a new policy initiated by FTC Chairman Earl W. Kintner, as soon as the outlines of a new business racket become plain, a consumer alert bulletin will be issued. In some cases this will mean that a warning may be issued while the Trade Commission is still conducting its investigation of a complaint. Names of the firms being investigated won't be mentioned in such alerts. Complaints can't be prejudged, it is pointed out. Cases have to be proved. But if the public can benefit, there is no reason why an investigative body like FTC should says that the author must bear all publishing costs. These run from $900 to $6,000. If the author forks over, he may get a few copies of his book and maybe a first royalty payment — from his own money. But then he's had it. Another business alert covers the "vending machine" gyp. Elderly people with a little money saved up but wanting more are its special victims. They are persuaded that by buying vending machines at from two to three thousand dollars, they can earn up to $500 a month profits, working only a few hours a day to service the machines and collect the dimes and quarters. Such profits never materialize, and soon the savings are gone too. Legitimate vending machine manufacturers, FTC points out, sell only to companies that know how to operate this kind of business. One of the most lucrative small business rackets FTC has moved by the appearance of dropsical fluid or edema, usually in the feet and ankles, but sometimes in other parts of the body. Congestive heart failure is not it- j self a particular kind of heart disease. It can result, in fact, from any serious disease which attacks the heart such as rheumatic fever, coronary thrombosis, or congenital heart disease. This does not mean to say that all of those afflicted with heart disease eventually develop congestive heart failure, because many do not. What happens in congestive heart failure is quite complicated. It is now believed that the trouble is perhaps not only in the pumping action of the heart itself, but also in the gradual increase in back pressure of the blood against the heart so that the heart has to work harder. Furthermore, it is associated with some lessening of the filtering power of the kidneys,' increase in the amount of sodium in the blood, and increase in the amount of'blood in the system. Also, of course, more water is kept in the system than should be, largely as a result of the failure of the kidneys to excrete as much water and sodium as they normally should. The attack on congestive heart failure must therefore be conducted on several fronts. It is desirable to know what kind of heart disease was originlaly responsible. It is al- greatly to the patient's comfort. the Q — What is indicated by nation's center of population? A — The nation's center of pop- 1 ulalion is the point upon which the 1 United States would balance if all its people were of equal weight. Q — Is the American bald eagle becoming extinct? A — They are extinct almost everywhere but in the 49th state, Alaska. Q — Who gave the state of Florida its name? A — Ponce de Leon, who discovered it on Easter Sunday. The Spanish name he gave it was "Pascua Florida" meaning "feast of flowers." Q — What book was it that Gen! eral Washington said helped to win ' the Revolutionary War? A — It was "The Crisis" by Thomas Paine. By HAL BOYLE NEW YORK (AP)-'Tm just window shopping in life, looking for the window I like best," said Mort Sahl. In 1953 Sahl was a $75-a-week sweater-wearing jester in a San Francisco cellar club. Today, acclaimed as "the thinking man's comedian," he's the top banana in the world of thoughtful laughter. But he remains something of an enigma both to his critics and his fans, who form a widening cult. He has been called irreverent, a "bitter Will Rogers," a member of the "sick school" of comics, a spokesman of the beat generation; a cynic. Mort, who still wears his sweater in his nightly monologues at the Copacabana here, feels none of these things is true. "I'm not very good at self-appraisal." he said tell people the laugh. "1 deal in satire, a kind of social X-ray, as Mark Twain did. 1 1 have to keep reminding people that what I do isn't radical—it's j traditional* "Sick humor is antihuman. I'm 1 in is est about God seldom believe man, His No. 1 product." Like most humorists, Sahl probably at heart a born reformer. He believes with playwright Arthur Miller that "everything has a message." His one message, he said, consists of two cryptic questions: "Does anyone care? Is anybody listening?" Insatiably curious, he reads half a dozen newspapers daily, scans 20 magazines a week, innumerable books. This vast reading fare inspires many of his wry quips on life and leadership in the space age. "Some comedians think sex is funnier than politics," he remarked, "but that isn't necessarily true." What is wrong with the American sense of humor, which many feel today is rather touchy? The left wing would have you But all I do is believe it's the result of suppres- truth—and they, sion," said Mort. "I think myself the big trouble is public apathy, an apathy that has come in the wake of the McCarthy era. "But apathy can be even more dangerous than actual suppression. "Nobody takes sides. There are iiumor t.s antmuman. rm; no grand passions on the part of not that. ' —- 1 "My philosophy is simple. I believe the world is worth saving, and 1 believe in the glory of man. "The people who yell the loud- Anymore, Complains youth. Youth today Is a diain- volved group—it is involved completely in itself. "This shows in the college humor magazines. There is very little real humor in them. And what there is, is derivative." But Sahl is more inclined to blame professional comedians than the public for the national humor shortage. He has in mind the comics who deal in such standard material as traffic cop and mother-in-law jokes. "The big mistake they make is in underestimating their audience," he said. "They don't credit people with intelligence. But they are out of touch with reality, "They say the public doesn't want anything better. How do they know? They never offered the public anything better. They live in a world circumscribed by broads, clothes, and horses. "They complain of their limited freedom on television, but they aren't taking advantage of what freedom there is. "Our greatest strength in America is our freedom to say what we want, to laugh at and criticize ourselves. If we stop that, or think it's subversive, then we become like Russia, where they don't have freedom." MAKE FRIENDS for new Jaycees be held sit on information that would help consumers protect themselves. To prosecute these cases and get out the necessary FTC cease and desist orders for enforcement takes much time. While this is going on, others may be stuck. So the Commission has decided to move before legal processes begin. "It's still possible to be against sin," says an FTC spokesman, "without having to name every sinner." Idea of the alerts is not to smear all perfume, rosebush, umbrella or other sales outlets. But by warning consumers to be on their guard, legitimate firms doing an ethical business are also protected. The new FTC alerts will have \ AN IOWA FARM YOUTH TOUR another interest in protecting hon- 1 starts today and will continue est, independent businessmen from! through Saturday. It is an annual exploiters who make a specialty! event which lakes an especially in on this year is the "advance fee" bill for aid in getting a small business loan that never materializes. If the businessman has just been turned down by his local bank as a poor risk, he's an easy prey for this one. The prospective borrower signs a contract that entitles him to a management survey. This lists his assets and liabilities and then makes some general observations about his plans for reorganization and expansion. In fine print it says the management analyst will recommend to legitimate lending agencies that the proprietor is a fine fellow who has a nice store. This they may do, but that's all they do, and no loan is ever forthcoming. JAYCEES TO MEET An orientation program members is planned by at their next meeting to in the basement of the Northwestern Bell Telephone building at 8 p.m. Wednesday. Reports will be given on Jaycee Family Day August 30 at Swan Lake State Park and plans will be made for a float to be entered by Jaycees in the firemen's parade here September 15. GERALD WOOTEN'S ADDRESS The address of Gerald Wooten, who left last week for the Marines, has the following address: Pvt Gerald Eugene Wooten, Pit. 2(34 Mcrd, San Diego 40, Calif. Around the Rotunda With Harrison Weber, Iowa Daily Press Assn. Writer vC! NEA* Don't keep stirring your coffee until it cools. Have a little patience. Such small habits are bound to be annoying to others. Remember Way Back When Ruth Clements of New York City left Sunday by plane from Omaha after visiting for the past three weeks with her mother Mrs. John Clements and brother-in-law and sister Mr. and Mrs. George Holland. She was accompanied to Omaha by Mr. and Mrs. Holland. Spotlight on Agriculture By HERB PLAMBECK of preying on small businesses. The most recent alert warns budding authors against the flattering but false offers of "Vanity Press" publishers. Their racket is to invite writers to submit manuscripts for constructive evaluation by impartial experts. If an author lakes this bait, back comes a letter advising him that his work has a most enthusiastic reader report. After much correspondence the author signs a contract giving him 40 per cent roy- altie and all TV and movie rights. But in fine print down below, it Plambeck mission and the reau. A total of Seeing Love Triumph-Or, Fail-Is Always Appealing There are two reasons why a true-life Cinderella story — like the romance of young Steven Rockefeller and the pretty girl who worked in his home as a maid — ;ble," "unthinkable,' and "unsuit- j able" when those words are based : on such worldly considerations as I a difference in background, worn- never fails to intrigue and delight! en, social position, education and the public. ! so on - W e love to see love's young The first is the triumph of true love over adverse circumstances. We love a lover who refuses to listen to such words as "impossi- D°[lyJHrries Herald Dally Ejccept Sundays and Holidays ' ' ~ 'alls! By tho Herald Publishing Company 515 N. Main Street Carroll, Iowa JAMES W. WILSON, Publisher HOWARD B. WILSON, Editor dream triumph over any and all obstacles. That appeal of the Cinderella story is to our romantic natures. The second appeal isn't quite as naively charming. It has a touch Daryl Dixon, La Porte City of malice in it. We like to think of i Joe Harding, of Coralville. all the Mama's with social ambi- i FUTURE FARMERS making tions for their daughters who must \ the tour are Darwin Kohm, Mar- selected group of farm youths on an interesting and enlightening trip featuring visits to various Iowa industries. S P O N S ORS of the tour are the Iowa Development Com- lowa Farm Bu- thirty-eight boys have been selected from all parts of the state to represent 4-H clubs, FFA, Rural Scouts and Farm Bureau Young People. PURPOSE of the tour is to give rural youth delegates an opportunity to make a first-hand study of the importance of industry to a balanced economy, and the interdependence of factory and farm in Iowa. THE WEEK'S ITINERARY will take the boys into central, north central, northwestern, western and southwestern parts of the state. Ames, Webster City, Fort Dodge, Storm Lake, Cherokee, Sioux City, Council Bluffs, Red Oak, Shenandoah, Clarinda, Creston and "Des Moines are the cities to be visited, RURAL SCOUTS named for the trip include Harold Johnson, Dakota City; John Mellen, Dallas Center; Wayne Brown, Oakville; and be gnashing their teeth at the thought of a Cinderella getting such a catch. How some of those Mamas were making their plans Entered as second-class matter at the j before the Rockefeller heir was out post office .at CarroU,Jowa. under | Qf ^ playpen The thought of their discomfort now is nothing short of delightful —for human nature always snickers when the best laid plans of mice and men and socially ambitious mothers go awry. Even the original Cinderella story had both of these appeals. For the come-uppance of the stepmother who threw her own daughters at the Prince's head gives the reader almost as much satisfaction as the triumph of poor little Cinderella. Pho 'acT'af March 3. 1879. Member of the Associated Press The Associated Press la entitled exclusively to the use for republication of all the local news printed tn this newspaper as well as all AP dispatches. Official Paper of County and City Subscription Rates J5 By carrier boy delivery per week S BY MAIL Carroll County and All Adjoin Ins Counties, per year. Per Month Outside of Carroll and Adjoin- in« Counties tn Zones 1 and 2, per year $15.00 Por Month $ 1.78 All Other Mall in the United States, per year SlU.OO • .. j 2.00 $12.00 $ 1.40 Per Month (All Rights Reserved, HE A Service, Inc.) ion; Larry Koenig, Central City; Joel Sebby, Clarion; Duane Wink, Elkader; Lyle Johnson, Forest City; Robert Voght, Grinnell; James Smith, Tingley; Dan Yates, Sigourney. Stan Nolte, Waverly; and Ron Gines, West Bend. FOUR-H MEMBERS selected for the trip this week are; Gary Bein, Davenport; Bill Carson, Ely; James Grunig, Storm Lake; Leland Halfpop, Goodell; Ronald Jones, Farnhamville; John Kolb, Holstein; Norman Leistikov, Decorah; Roger Pippertt, Little Sioux; Jay Pritchard, Fontanelle; and Darrell Straight, Keosauqua. FARM BUREAU YOUTH delegates now on the tour are: James Lee and Carl Peterson, Ogden; Robert Muchmore, Rowley; Don Young, Tipton; Clyde Thompson, McGregor; Jerome Kruse, West Union; Don Frieslaben and Sherwood Larson, both of Hampton; Jerry Butler, Eldora; LaVerne Josten, West Bend; Daryl Jordan, Knoxville; and Don Sigler, Council Bluffs. THE TOUR will close with a Farm Bureau luncheon in the Capital City Saturday noon. In the meantime, the boys will see the Animal Disease Lab, feed plants, stock yards, machinery factories, foundries, radio stations, milk plants, food processing, ' kitchen products, etc. They will also have compared many notes and had a lot of fun. EXTENSION DIRECT O R S from all over the nation are in Kansas City this week for their national meeting. Sunday they dedicated a flag pole at the National Agricultural Hall of Fame. Howard Hamilton of Tipton, Iowa County Extension Director president, says Howard Brown of Carroll, the Carroll. County director, will attend from this area. LABOR DAY IS OVER . . . with labor problems still unsettled. On top of the steel strike, Swift Packing Company workers also walked off the job last weekend. Meanwhile, most laboring people themselves are just as anxious to work as anyone. * * * SCHOOLS ARE ALL OPEN now. Last of the classrooms to get started resumed sessions this week. Responsibilities for motorists are greater now than ever. Let's all drive more carefully so children's laughter can continue. * * * OLD THRESHERMEN are having themselves "a ball" this week. The Midwest Old Settlers & Threshers Association is to meet Wednesday through Saturday at Mt. Pleasant. More than GO steam engines will be in the parade and on display. Those familiar whistles will be heard loud and clear and often. * * • FIFTY THOUSAND OR MORE PEOPLE WILL jam into Mt. Pleasant for the fun and reminiscing, in addition to the old steamers, there will be antique cars, old tractors, spinning wheel.dem onstrations, horseshoe pitching, big threshermen's meals, square dancing and other activities that help recall the "good old days." IOWA'S "COW CONFERENCE" is to be held Thursday at the Ankeny Experiment Station. Dairymen will get reports on dairy breeding projects, the identical twin- heifer program, loose housing, sire selection, bulk tank and pipeline milking, silage feeding and bloat control. DHIA awards will be made at the Cow Conference. * * * A NATIONAL TRACTOR RODEO will be held in Iowa on September 24. It will be a highlight at the National Farm Progress Show, to be held on Senator Earl Klijak's farm near Clarence. Nine states will be represented, including Iowa * * * KHRUSHCHEV'S INVASION of Iowa will be a never-to-be-forgotten occasion in the state's history. Late last week, more than 800 newsmen had already applied for clearance. The Soviet leader's own party adds 100 more. Slate department and other U. S. officials will add hundreds more. In ddition, an army of security men will be needed. Where farmers figure in on the Red leader's "farm visit" isn't clear yet. * * * STATE FAIR MEMORIES linger on . . . and so does concern about the State Fair's future Attendance was not good, even though exhibits were outstanding, and the Roy Rogers family and troupe staged the finest kind of grandstand program. CARROLL COUNTY 4-H ' GIRLS won their share of top awards. Blue ribbon winners in the food and nutrition section at the State Fair included; Roena Hartwigsen, Glidden; Nadine Miller, Templeton; Gloria Erb, Manning; Alice Crotc and Judy Grote, both of Breda; Jeanine Madi- gun, Carroll; and Donna Ahr- eiulscn, Manning. BLUE RIBBONS also were won by Carroll County's 4-H boj's demonstration team. The boys were Pat Kasperbauer and Paul Mundt, Manning, who demonstrated rat control. Carroll County's girls' 111 team, demonstrating on foods and nutrition, made up of Sharon Borkowski, Manning, and Marilyn Vennick, Botna, also won a blue ribbon award. Nineteen Nine— Dr. A. L. Wright left Monday for Drinkwater, Sask., Canada, to spend a few days with his son Robert and look after his land interests there. Nineteen Nine— Ward Ellis has sold his residence property in the first ward to J. T. Mackey, former proprietor of the Windsor Hotel, consideration $3,000. Nineteen Nine— In courtesy to Miss Kathleen Miller of Omaha, Miss Helen Jeffrey entertained six girls in her home Friday afternoon. At six o'- I clock Miss Helen and her mother served a dainty two-course supper. Nineteen Nine— Thomas C. Wolfe remarked yesterday that it was just 40 years ago that he landed in Carroll. Forty years is a long time and he surely has something to show for it. Aside from seven 80's of land near Templeton and his excellent 400-acre tract in South Dakota, he has a beautiful home and his family have grown to respected manhood and womanhood. DES MOINES — The Iowa State Conservation Commission plans to pick up the tab for its employees who attend the first state-wide conservation clinic to be held here Tuesday. Registration fee at the clinic will be $2.50 which includes lunch. Purpose of this one-day meeting is to invite conservation-minded citizens from all over the state to take an active part in the development of a conservation program in Iowa. On July 1 the Iowa Highway Commission had a dinner on public relations for its employees at the Memorial Union at Iowa State University at Ames. The Highway Commission paid $785.40 for a steak dinner for 231 employees. State Comptroller Glenn Sarsfield questioned the Highway Commission about this expenditure because half of the employees who attended the dinner live in Ames. Sarsfield recently conferred with Attorney General Norman Erbe's office about the legality of a state agency paying expenses of its employees while the employees are in their home towns. The attorney general's office referred Sarsfield to a 1916 opinion which holds that state employees are not entitled to expenses while at the place of residence. The comptroller said he planned no further action on the highway commission case because the commission "indicated to me it wouldn't happen again." There has been no indication as to whether or not state officials will question the $2.50 registration fee as a legitimate expense for conservation commission officials living in Des Moines who attend the conference. Blue has received much encouragement in recent months to re-enter the Iowa political scene. Many of his friends want him to seek the Republican nomination for either the U.S. Senate or Governor. Blue, however, is not at all receptive to the idea. "I have no intention whatsoever to run for either office (U.S. Senate or Governor) and have not encouraged any such talk," Blue stated. The former Governor said he was contacted last winter by a group of legislators who wanted him to get back into active politics. When asked if he might be receptive to a draft movement, Blue replied that he would be the "most amazed man in the world" if a draft movement ever occurr e d. "There's just not any chance of that happening," Blue remarked. Road Theory Sen. D. C. Nolan, Iowa City Republican, has his own road theory. With tongue-in-cheek, Nolan says a farmer living near a dirt road is better off than one living near an all-weather road. Reason: because when it rains the farmer on the dirt road will stay home and work. Nursery Panels Blue Not Running Former Iowa Governor Robert Murray Undecided* William G. Murray, the unsuccessful Republican candidate for Governor last year, is expected back at Ames Nov. 27 after a six month world tour. Murray plans to meet with friends early in December and discuss his political future. Shoeman Will Not Run There has been some talk of Senator John D. Shoeman, Atlantic Republican, running for state secretary of agriculture. Shoeman has now taken himself out of the picture saying he has no intention of running for the state post. * YOUR POCKETBOOK • Consumer Spending About The Same as 8 Years Ago pro- tril- Delight .-i lot with his favorite r.ursery-rhj mo pals. These slim panels make it smart ami original baby-shou er gift. Fun-to-ilo stitchery—- colorful pictures for haljy's room Pattern 7-l.VJ; transfer of two 8 x 21-Inch panels, color chart. Semi Thirty-fivn cents (coins) for this pattern—add 5 cents for each pattern for lst-class mailing. Send to Daily rimes Herald. 235 Household Arts Dept., Box 16a Old Chelsea Station, New *ork, n, N.V. Print plainly NAME, A .I). DKKSS, ZONK. 1 'ATTKUN NUMUKIt. Our 19351 ALICE BROOKS Needlecraft Catalogue has many lovely de-, signs to order: crocheting, knitting, embroidery, quilts, dolls, weaving. A special girt, in tho catalog to keep a child happily occupied—a cutout doll and clothes to color. Send 25 cents for your copy of the book. By FAYE HENLE Can you fall for headlines claiming the consumer is a lionaire? I hope not. Get down to cold statistics. Pretend the average consumer, with his assets and liabilties, is a company balance sheet. Do this and I've news that will shock you. If you think that you are the average consumer, your total net worth at the end of last year was just about $40 greater than it was in 1950. It rose to $5,BG0 from $5,820 if we adjust for inflation. How can I offer such fact as the truth'.' Here's how: Periodically the National Consumer balance sheet. Its figures are derived from government sources and tell how much we owe, how much we own in terms of cash savings, corporate and government securities, homes, appliances, mort gages and installment debt such. I've taken these figures and made two adjustments, one for the increase in population 1950-58, an increase of about 25.3 million people, and second for the decline in the purchasing power of the dollar in that period, a drop of about 17 cents per dollar. This is how I arrive at a conclusion I urge you to heed. Because families are growing larger, which I heartily favor, and because your dollar buys less, a painful' reality, we are hardly butter off today than we were eight years go. Averages, of course, are misleading. A wide segment of the population has seen its income rise substantially and this is better off despite higher prices. For those less fortunate, living is more difficult. What else do these figures show? Equally startling to me, the fact that our equity in nonfarm homes has not increased sharply during the period despite the great boom in home building. Between 1950 and 1958 it has risen but 2.7 billion dollars, if you adjust for the declining value of the dollar. In the same period, mortgage debt has more than doubled showing a rise to 88.5 billion dollars from 37.6 billion. What this means is pretty clear. Wc are making the smallest possible down payment on our homes — despite warnings to the contrary. From our viewpoint, to some extent this makes sense. On the plus side is the fact that as our dollars continue to lose in value, we'll be paying for our homes with cheaper dollars. Not so good is the fact that the high monthly carrying charges this entails often can make our homes burdensome, and } sometimes restrict other purchases, other pleasures. And these high monthly charges wo appear to carry might offer a partial explanation for our debt ratio. Our installment credit, even before the recent spurt, more than doubled since 1950 while what we owe in the form of personal loans increased by just about one-third. What about our assets? The money we have on deposit in the bank and in savings accounts is considerably higher than it was in 1950, but this may be because some of us at the end of last year were still smitten with recession fears. In terms of real purchasing power, our cash and bank doposits in the period rose by 15.8 billion dollars and we had 39 billion more on deposit in Savings and Loan Associations at the end of last year than in 1950.
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