Time Clock, Nov. 18, 1957

THRIFTY AMERICANS are putting more into long-term savings than ever before. Institute of Life Insurance says that savings accounts, insurance policies and U.S. savings-bond holdings of average American household hit $5,100 at midyear v. $5,000 in 1956 and $4,000 in 1950. In 1957's first half, U.S. total swelled by nearly $9 billion to total of $253 billion.

DEVELOPMENT LOAN FUND, new U.S. program to lend $300 million in fiscal 1958 to spur private enterprise abroad (TIME, Sept. 30), will be bossed by Dempster Mclntosh, 61, now U.S. Ambassador to Venezuela. A Republican and foreign-trade expert, he was president of Philco International Corp....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!