The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1931-08-07

- VII tAtA Cooo 6Ab
that she will meet competition
from other countries Vt almost
any price.
So long as we continue to ex-
port wheat and the present strug.
gle in Russia continues, the con-
script wages of Russia will tend
to fix pauper prices on American
wheat-not only or the exported
surplus, but also on the main por-
ton of the crop which is consum-
ed at home; and this will do it's
share to clog up u entire econ
omic system.
Is there no remedy? Are we so
powerless, so stupid, so poverty
stricken in ideas that we are I'M
able to regulate our own internal
affairs, and must surrender to the
drift of circumstances and the eff
fects of the Russian revolution?
If so, we shall have demonstrated
to the satisfaction of a consider
able portion of our people
and to the rest of the world that
u capitalistic system is indeed
obsolete junk that should be dis
carded for the new capitalistic
system of the Soviets.
The Nature of the Russian System
The statement is often made
that Russia is attempting to dos
away with the c~apitalistic system.
That statement is entirely erro-|
neous and absolutely misleading.
In our country, and so far in all
other countries except Russia, thel
main body of all capital is in thel
hands and under the control Of
private individuals and corpor-
ations. Capital in its widest
sense, including land, machinery,
equipment, factories. means of
transportation and money, is alb
so1utely necessary for civilized ex-
istence even in Russia. Russia
does not plan to abolish capital,
but simply to take capital over
from the individual and the cor
poration and place it in the owner
ship and control of the state. This
is the obvious truth and it is i'm
portant to understand it, The old
capitalistic system, under which
capital is held by individuals and
corporations, is now coming into
competition with the new capital.
istic system in which capital is
under the unified control of the
state.
Strengthen the Old System
Through regulation
The great mass of our people
believe IN individual and corpor-
ate ownership and control of ca.
pitaI on account of the life-giving
stimuIous which it imparts to in
dividuaI initiative and enterprise.
This inducement to individual eff
the life Of American business. 1t
is the our of progress, and the
fountain of perpetual youth for
our civilization.
Believing in this form of the
capitaIistic system. it is obvious
that we should foster and protect
it through wise regulation by the
Government. Necessarily, the eff
forts of millions of energetic, en-
terprising people need some regu-
Iating power to prevent wasteful
duplication of capital and efforts,
destructive competition and ruin
GUS prices. In one word, we need
a coordinating power. We need
this coordination in American
agriculture, and it must come
through the Government.
The Importance of Price
Regulation
In this age of trade and ex-
change, the regulation of prices
on goods and services is one of
the fundamental and most COM
prehensIve economic problems of
civilization. Only by maintaining
as near as may be the proper pro-
portion between prices can we in
sure the free, easy and liberal
exchange of all useful goods and
services. This would mean o n