Henderson daily dispatch., 1938-11-21

public or governmental services which
enables the counties or towns to make
lower tax rate on homes, ell OF
which encourages home ownership.
"The building and loans have a re-
markable record, in safeguarding the
funds entrusted to them during the
depression years which took such
heavy toll of financial institutions of
every type. For instance, there was
not a single year during the depres-.
sion when losses in failed associations
were as large as one percent of the
teal resources and in most of the
years the losses were only about Ia
of 1 per cent. These associations
have contributed greatly to the Anne
rican ideal of a debtfree home for
every possible American family.
'The building and loan association
contributes greatly to the improve
nlent Of our citizenship, not only by
making them home owners, but by in
culcating the principles and homelv
virtues of our early settlers. This
sort of saving teaches people how to
save and it places a proper value upon
small amounts of money judiciouslv
invested. It would do this whole ma
ton good for its citizenship to he re-
introduced to at least three words in
our language which have about fallen
into disuse. One is Economy: an
other is Thrift; and the third is
Work; Economy-the very essence
sof learning how to live on ones in
come and thus avoid the embarrass-
ment of debt and the constant loss o.
confidence with those with whom we
do business. Thrift-the means nv
which we save some of our earnings
to buy home to provide for those
dependent upon us and to safeguard
against want and poverty in our old
age. Work-real honest-to-goodnes
work in which we seek to earn and
receive more compensation BASED
upon the service we render rather
than to rely solely upon some arbitr-
ary massed standard. After all, these
things stabilize the people, vitalize the
citizenship an dfurnish the ground
work for enduring democracy.
Our nation is republic and the
greatest democracy on earth. The in
dividual responsibility and opportur-
lty loom largest in a democracy. The
preservation of a democracy depends
upon safeguarding our ideals of Anne
rlcanlsm and the fundamental guaran-
tees of our constitution which pro-
vldes security for the personal and
property rights C the citizen.
To-day in the land of the dictators,
individual rights have been submerg-
ed and minorities are being oppressed
~ prosecuted, deprived of their lib
erty, robbed of their possessions and
driven homeless and penniless from
the land. Today in Germany, there
has been enacted the policy of perse-
cutlon and oppression against the
Jews, the like of which this world has
not witnessed since the days of the
Pharoahs, when the ancestors of these
Jews were required to make brick
without straw and to suffer death by
despotic decree of q newborn male
Child in every home. God gave them
deliverance then and the God OF
Abraham and Jacob still reigns.
Among the rights which we revere
and which the American people must
forever defend, there is none more i'm
portant than this no citizen shall be
deprived of his liberty or have his
property kept with the judgment OF
the law This is the ark Of our CO.
zvenant. We must always remember
that in the past $50 years, democratic
America has achieved more blessings
for mankind than were achieved i'll
the 5000 years of despotism that pre-
coded our system of government"
North Carolina was represented by
80 officers of building, savings and
loan associations, who are taking an
important part in the deliberations.
A special luncheons at which ali of the
officers of the national association
and other notables were present, was
held honoring Governor Hoey. Mayor
John B. Craven, of Lexington, presid-
ed at this informal gathering.