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Newspaper
Winchester Evening Star
Location
Winchester, Virginia, United States of America
Date
Jul 08, 1937
Page
12
A 1935 survey arc underscores total private and public debt at about 245 billion dollars. Long term obligations exceed one year and have risen dramatically since 1912, with railroads, utilities, farms, and industrial firms showing substantial shifts in indebtedness through the 1930s.
The piece notes rapid growth in federal debt from 1 billion in 1912 to about 36 billion, and state local debt from 410 million to 18.5 billion. It cites J P Morgan and a financier’s remark on worth being defined by what one owes.
Members of the Otterbein Bible Class at A 3B Church will meet at 9 45 Sunday morning. Miss Garnett Hamrick will sing a solo with Mrs Hamrick accompanying on piano. All are invited to attend and bring a friend.
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