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Show WALTER SHE AD It's the Cost of High Living IT MIGHT very well be that what the country is suffering from most right now is the cost of high living instead of the high cost of living. There is no question but that in maintaining our high standard of living the American Ameri-can people are eating more and better than ever before. But the fact remains re-mains that we are fast using up our reserve of savings and approximately 25 per cent of the people this year are spending more than their income. The federal reserve board has just issued figures showing that for the first half of 1947 savings in the nation amounted to only 6.8 per cent of income, or about 11 billion dollars, as compared to 17 per cent of income in 1945 amounting to 29 billion dollars. With the highest national income in history, about 67 per cent of the farmers were able to save some money and 20 per cent put away more than $1,000 in 1946. But they paid off a lot of mortgages and other debts. 1 |