Show A Average Davis Time 15 75 Month SPECIAL TO THE CLIPPER As in most parts of the country country coun- coun try ry residents of Davis County have taken on more installment installment installment install install- ment debt than they ever carried carried car- car ried before THIS IS part and parcel of the he change in buying habits that hat has been in evidence in America since world war II It has las gradually switched the nation nation nation na na- tion from a cash to a credit economy Purchases of cars dishwashers ers ers refrigerators r e and other durable goods on the installment plan have more than doubled in the past ten years alone AS OF THE TIlE beginning of this year installment debt in the United States amounted to billion according to the findings of the Department o of Commerce and other agencies It was equivalent to per family In some sections of the country country country coun coun- try it was higher than in oth oth- ers It was found to be especially especially especially espe espe- low in farm areas N THE TIlE AMOUNT of installment debt in Davis County on the basis of the national studies is estimated at per family This is the overall average Some families have none at al also all so that among those that do the average is somewhat high high- er THE TIlE GRAND total of installment installment in in- debt in Davis County County County Coun Coun- ty as of last year is placed at To meet the regular repayments repayments repayments repay repay- ments on this sum takes over 13 per cent of the net disposable disposable disposable able income locally or approximately approximately approximately 75 15 per month per fam lam ily fly HAVE THE American people gone too heavily into debt There is much about it at the present time in banking banking banking bank bank- ing and credit circles The consensus consensus consensus con con- is that it has not reached too high a level How How- ever no one will venture to say how high it can safely go As a National Industrial Conference Conference Con- Con ference Board official put it So long as income continues to rise the high debt level shouldn't cause much trouble The trouble starts when we have lave a recession A FURTHER favorable note is contained in a report showing showing show show- ing that the financial resources of the American people including including ing cash savings stocks bon bonds and other property far exceed d their debts Even including the mortgages mortgages mort gages on their homes the y have more than 4 in financial for every 1 of d debt bt |