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Show Savings Dwindle As Wage Earners Face Living Costs WHILE choice steaks reached a ridiculous high of $1.09 a pound in New York market last week, and Omaha. Nebraska claimed the national low of 89 cents a pound for the same cuts, fortunate Roosevelt shoppers were able to buy their steaks for 83 cents a pound. But continued soaring prices and the incrcas- ing drain on the pocket books i of wage earners lessened the I glory any community might I claim for its low priced meat. An attempt to appraise the spiraling living cost situation as it applies locally leads only to confusion, but one thing stands out clearly, namely that savings accounts are dwindling and government gov-ernment bond redemptions are increasing. In mentioning the decline de-cline in individual savings local financial institutions made it plain that withdrawls from savings sav-ings accounts were being made primarily by wage earners, who find it impossible to meet their j mounting living costs with a fixed salary. 1 THE Treasury Department still driving for the sale of U.S. Savings Bonds, under a slogan: "Build Financial Reserves While Income is High," reports the total to-tal bond sales in Duchesne county coun-ty during the month of August as S6300. In Uintah county sales were slightly lower, totalling S5475. ' Few, if any from the fixed income in-come group, are purchasing bonds in the two Basin counties, banking houses opined. Bond purchases by this group being impossible with living costs exceeding, ex-ceeding, the. wildest expectations. I Additional evidence that wage earners are taking the brunt of sad economic conditions is' the fact that savings bonds accumulated accum-ulated by them during the lush war years are rapidly being redeemed- The hope that a number of wage earners held that their futures fu-tures might be partially secured by systematic savings is rapidly fading in the darkening hours of national economic instability. Savings will be gone if a solution solu-tion is not soon reached. |