Verhovayak Lapja, 1947 (30. évfolyam, 1-24. szám)

1947 / Verhovay Journal

May 14, 1947

“I Am An American Day”

Newly naturalized citizens, together with native-born Americans who have recently reached voting- age, will be honored in ceremonies throughout the country during National Citizenship Week, May 10-18, with the major events taking place on I Am An American Day.

In proclaiming Sunday, May 18, as I Am An American Day, President Truman recalls that “the rise of the United States of America to a place of eminence among nations in less than two centuries has been greatly enhanced by the migration to its shores of pioneering, freedom-loving peoples.’’ Attorney General Tom C. Clark stated, “We hope that the interest in the observance of I Am An American Day this year will surpass that of any previous year.”

Pageants, plays, ssongs and speeches will extoll the contributions of foreign-born citizens to American science, culture and industry, high-lighting the American tradition whereby people of all races, religions and ancestries live and work together in harmony.

2,000,000 young people reached the age of twenty-one in the past year, while nearly 200,000 men and women of foreign birth were naturalized in the same period. Stressing their spirit of unity, President Truman's proclamation states: “In the teamwork of democracy, the requisites for good citizenship are not place of birth or race or religious belief, but character, education, cooperation and loyalty.”

In line with the President’s theme, the week-long celebrations will emphasize not only the privileges, but also the responsibilities of citizenship, particularly the obligation of all Americans to stand together against subversive forces which spread racial and religious bigotry in order to undermine democracy. “The stupendous task of all men in this new age,” says Presiden tTruman, “is to remove from the world the age-old curse of warfare, and to advance the cause of freedom and brotherhood.”

It is estimated that 5,000,000 people will participate in this observance in some 1,500 communities. I Am An American Day became an annual event by resolution of Congress, in May 1940. Programs are conducted by local committees, representing churches, schools, veteran groups, service clubs, social agencies, business and labor, with such national organizations as the American Legion and the National Education Association lending support. On behalf of the Federal Government, assistance is given by the Immigration and Naturalization Service of the Department of Justice.

How Changing Values Affect Your Security!

(Continued from page 4.)

and the survivors will be left with a fraction of the estate.

Suppose a man plans to build an estate of $5,000. He can afford to set aside $20 each month for this purpose. Choosing either the savings or the investment plan, he deposits, or purchases securities for, or makes payments of $20 each month. Everything goes according to plan until the eight year when he loses his life in an accident. His wife and children will be left an estate not of $5*000, but only $1,120 plus interest, or a total of $1,300. Had he chosen a 20 year Endowment life-insurance plan at the same rates, the survivors would have received $5,000.

Savings or investments represent the “pay as you go” method, while life insurance affords the insured a complete estate on a time-payment plan with the assurance that in the event of death all unpaid installments will be cancelled. Obviously, this is the only plan that affords security from the very beginning.

More insurance needed.

We know, however, that $5,000 is worth approximately half as much today as 10 years ago. Therefore, a man who had planned ten years ago to leave his family an estate worth $5,000, will have to seriously consider a readjustment of his plans lest his family inherit a depreciated estate.

A sensible person must realize that his life-insurance premium costs him less today than ten years ago. True, his premiums still are $20 per month for a $5,000 Twenty year endowment policy, but these 20 dollars are worth only half as much as they were ten years ago and it takes now correspondingly less labor and time to earn this . amount.

The money invested in life insurance, represented 10 years ago, let us say, 10% of his earnings. It only stands to reason that he should continue investing 10% of his earnings and if his wages have increased with the prices ashappened in the most instances than 10% of his present earnings would amount to more than $20. The gain also should be invested in life-insurance. In other words, the insured should continue setting aside a certain percentage of his income rather than a certain amount for his estate. In 8 cases out of 10 this would mean more insurance. Due to the increasing of wages and prices it becomes both possible and necessary to purchase more insurance so as to protect the estate against depreciation.

By adding new insurance to the estate already created the purchasing value of that estate will be protected against the devaluation of the dollar and, as a result, the beneficiaries will be compensated for the economic loss incurred by the death of the insured.

Human cash values.

$5,000 death benefit today represents the same value as 2500— 3000 dollars represented ten years ago. As a result, a revaluation of insurance needs also has become necessary. The death of a man earning $400 per month causes twice the economic loss as the death of one worth $200 per month. A man who had earned 200 dollars ten years ago but makes 400 dollars today should not keep his insurance on a level corresponding with a 200 dollar monthly income. It should be raised to the level of his present income. In other words he

Verhovay Journal

PAGE 5

Four Branches Join In Tribute To Seven Hero Dead In Throop, Pa.

The American Legion of Throop, Penna, will be the host to branches 11, McAdoo, Pa.; 42, Throop, Pa.; 158; Kingston; Pa.; and 174, Scranton, Pa., and their guests, on May 31st; Saturday; when the portraits of seven hero dead will be presented to the next of kin by Supreme Secretary Coloman Revesz. Arrangements for an impressive program are made by the joint Memorial Committee who extend their cordial invitation to all members of the Verhovay in this territory.

Elmer Kopachy, Martin Mészáros, Stephen J. Kobar, Charles Zipay, Edward T. Lloyd, George Lukach Jr., and Pfc. Stephen Nagy are the former members of our Association who had given their lives for the victory of our armed forces. Their portraits are tokens of our lasting sympathy and undying gratitude. The members of the four branches from which these men went to their death, and of the sister branches in this district are expected to live up to the meaning of these portraits. By attending en masse the memorial ceremonies and extending their condolences to the bereaved families they are to assure them that the presentation of these portraits is not an empty gesture but an act of sincere fellowship.

The benefits of the victory achieved by our armed forces still are with us and' shall remain with us for ever. It is only fitting that we also retain and cherish the memory of those heroic men ■ who had paid the price of this victory . . .

The mothers and fathers of these fallen heroes will never ceage weeping for their beloved sons. It is only fitting that our sincere sympathy last as long as their sorrow . .

Nearly two years have passed since the last man from the

ranks of the Verhovay has lost his life in the European theatre of

war. Those having suffered no losses in that great struggle, already are inclined to forget. However, we who have lost 192 brothers in

World War II., shall not forget so easily. It would be better for

the whole world if none would be willing ever to forget the bitter price of both victory and defeat. For people are tempted to risk another gamble when they forget the losses previously suffered. It is, therefore, a distinct contribution to the cause of lasting peace, when we are reminded of the sacrifices of those many thousands who had given their lives for the country and the ideals for which the nation fought.

Verhovay’s memorial ceremonies honoring the hero dead of World War II., serve this purpose. Our fellow-members should avajl themselves of this opportunity to demonstrate mankind’s longing for lasting peace and our lasting regret for the horrible losses of war.

It is said that time heals all wounds. That, however, is true only to the extent to which the cure, attributed to time, is helped by human fellowship. Without that time cannot effect any cure. As brothers and sisters of the mothers and fathers of our hero dead it is our duty to provide that fellowship which, in time, may alleviate the sufferings of the parents whom cruel fate has deprived of their hope and comfort: their sons.

Thus, we owe it to the men who had made the supreme sacrifice, to their next of kin, and, last but not least, to mankind; that we attend the memorial ceremonies to be held in their honor. Verhovayans conscious of their duties as citizens and fraternalists, cannot fail to perform their duty.

er, probably around $1.25, that J is, prices and wages will be about 125% higher than they were in 1937, while the next cycle may end on a level 40—50% higher than ten years ago. — There can be no doubt, therefore, that the slowly, but persistently rising level of wages and prices makes the consistent increasing of our insurance program an unavoidable necessity.

If the presently apparent change of values is put in the proper perspective, it becomes obvious that thrift still is the only road toward security. However, it is just as obvious, that the method of practicing thrift must be adapted to the changed conditions. Some orthodox methods have proved too vulnerable to the depreciation of values, while others seem to have greater flexibility. The latter is true as far as the life-insurance plan is concerned. Adapted to the changes occuring in the economic order, the value of the life-insurance security seems to be better able to resist depreciatory trends than any other kind of real or personal property.

should purchase, if possible, another $5,000 insurance.

The same is true, however, as far as the insurance value of the house-wife is concerned. Costs of hospitalization, medical and surgical care have increased. So have burial expenses. Then, too, the work of the deceased housewife has to be done by someone for hire. But wages are higher. As a result, the customary $1,000 insurance written on the wife is not sufficient anymore to make up for the economic loss caused by her death. If possible, her insurance should be doubled.

The same conclusion prevails in reference to Juvenile Insurance. Then, too, ten years ago the cost of rearing a child from birth to the age of 18, amounted to something like $5,000. Today it is $8,000. The cost of higher education has gone up, too. A $1,000 Educational insurance Policy seemed to assure the child of a good start toward a college education. Much more than that is needed today.

The Board of Directors of the Verhovay F. I. Association had this in mind when raising the limits of Juvenile Insurance from $1,000 to $2,000.

Thus, by keeping our insurance estate on par with our earnings,

I we protect our security and that of our family against the detrimental effects of changing values that have played havoc with all other methods and plans of providing for the future.

What about deflation?

Of course, the question may be raised whether or not the present inflationary conditions will be succeeded by deflationary trends. After all, economic life does not run in a straight line but fluctuates between the two extremes of prosperity and depression. Therefore, it is argued, a recession of prices and wages is to be expected when original values will be restored.

The premises of this argument are right, but the conclusion is wrong. A careful study of economic history shows that the fluctuation of values does not level off where it started. A persistent upward trend is apparent. Each prosperous period was marked by higher wages and prices but the subsequent depressions never reduced them to the level of the previous economic recessions. It is reasonable, therefore, to expect that the next depression will not reduce the purchasing value of the dollar to what it was ten years ago. The level will be high-STILL, THE ONLY PLAN . . ,

After all that has happened and is happening in the world today, life insurance is —

. . . Still the only plan in the world that will take care of a man’s family after his death, not as a charity, not as a gift, not as a gamble — but as a business transaction for which he himself paid in advance while he lived.

. . . Still the only plan in the world that enables a man to pass on to his family at his death the cash value of his future earning power.

. . . Still the only plan in the world that matures by events and not by dates.

. . . Still the only plan in the world that automatically creates at the moment of death the money to pay the bills which death has created.

. . . Still the only plan in the world that reaches its peak value at the .moment of greatest emergency.

. . . Still the only plan in the world that will accept promises in lieu of performance — If you would have paid had you lived, then it pays for you if you die.

. . . Still the only plan in the world that scientifically offsets the depreciating effect of time upon human life value. As human values go down, cash values go

up. At the moment a man is worth least to the world by reason of depreciated human life values, he is worth most to himself by reason of appreciated cash values.

. . . Still the only plan in the world which is a perfect substitute for human labor — ready to provide income when the capacity of the human being to work has been destroyed either by death or by time.

. . . Still the only plan in the world that guards a father from providing so well for his family today that he fails to make provision for their tomorrow.

In life insurance you have the one completely satisfying answer to the great fundamental and persisting financial problems every man faces. — Standard Life As« sociation Quarterly. |