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Kingston -- IMG_0480
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Authors: Martin J, Meyer and Dr. Joseph M. McDaniel Jr
Charts, Graphs, Bank and Savings and Loan Advertising, and the reproduction of certain documents
"In return for the use of his savings, the depositor, not only has earned no real income from the banking industry, but he has actually suffered a real loss. Believe it or not, any sum of money deposited in any bank or savings and loan association at any time during the past 10 to 25 years, after deduction of average income taxes on interest earned, would have bought more loaves of bread, more heads of lettuce, more rides o the subway or more copies of the Sunday Times with the original deposit than it will today with all the compound interest added. Money must be made to multiply itself many times over in than of a score of years if the thrifty are to keep pace with inflation.
During the last 2 decades, business and labor have been able to increase their return, seemingly at will, restricted only by the laws of supply and demand. Labor, banded together, has forced increases in its returns, and business has been free to pass these increased costs, plus profits, on to the general public, the consumer.
It is not our purpose to condemn or condone the methods used by business or labor to improve the return for their contributions to our society. It is a matter of historical fact that both labor and management have been relatively free to chart their own course to greater returns, unhampered to a considerable extent by legal restraint. Nor do we argue either for or against the reinstitution of wage-price controls as a means of halting the inflation that erodes the value of our savings.
But we do maintain that a grossly inequitable situation exists -- unfair to depositors as well as to those who have invested in life insurance or retirement annuities. Twenty years ago, people invested dollars worth 12 loaves of bread. Today, each of these dollars has grown (after income tax deductions on the interest) to about one and a half dollars, a net increase of 50%. But this dollar and a half buys only 4 loaves of bread, which means you get less than 3 loaves of bread now for the dollar that bought 12 loaves of bread when you invested in it 20 years ago."
Contents by Chapter
1. Savings Banks -- They Save as much as 14% ON YOU !
2. Commercial Banks -- They Tried to Pay You More, but the Government Wouldn't Let Them.
3. Savings and Loan Associations -- They Started the New California Gold Rush.
4. Brokers -- They Win a Battle Against Regulations.
5. Brokers They Get You More -- But Be Careful!
6. Commercial Banks Need Your Money -- And They're Willing to Pay for It!
7. Why the Government Won't Let The Banks Pay More
8. Multiply Your Money
9. Interest Earnings -- Your Basic Tool For Greater Returns
10. Daily Interest Pays More
11. Breaking The 5% Ceiling: Grace and Bonus Days
12. Short Term Deposits - From 9 ½ % to 13 ½%
13. Making Money on Uncollected Funds
14. Your Credit Card Can Earn Money - FOR YOU !
15. How to Defer Income Taxes on Interest.
16. 19% - ! 25% - ?
17. 8% Per Anum -- NOW.
18. Convenience, Flexibility, Safety and A Fair Return -- Don't Bank On It !!!
Hard Cover with Jacket 222 pages Library of Congress Catalog Card Number: 76-92024