Evening star., 1931-12-06

WORKERS or multf-millionaire owners?
Another steel company paid its CORPORA
tion officers $25 100000 In bonuses be-
tween 1918 ana 1880. Its presidents
emoluments averaged s82e.o00 a year.
Progressfves propose reduction Of ex-
cessive tariff rates, elimination Of de-
vtous provisions of the law that impose
unjust financial burdens on our people
for the private profit of a small group
of industrial owners.
The excessive tariff bears heavily on
our farming population, who must buy
protected products of industry while
selling their own products of the soil
below the actual cost of production. We
shall not have lasting and solidly
founded prosperity in this country until
the economic scales are balanced be-
tween industry and agriculture.
A few figures will epitomize what has
happened to the farmers under conser-
vative political rule. In the dozen years
from 1919 to 1891 the value of farms
and their equipment shrank from 78 to
So billion dollars-a loss of 20 thou
sands of millions to those who till the
soil and to their families. During the
same time farm mortgages increased
from billions to IL billions. Scores of
thouands Of farms were taken by fore
closure proceedings from men and
women who had grown old and gray
haired during the years they had profit
lesslv cultivated the soil that there
might be food for our great population
and scores of millions in other lands.
In 10 years nearly 4,50O,O00 men,
women and children were practically
forced from the farms of the Nation by
economic pressure. Farm BANKRUPTCIES
increased nearly 500 per cent. BY ma
nipulation of the Federal Reserve bank
ing system, billions of dollars were
drawn from country and small city
banks and turned over to Wall Street
stockbrokers for speculative purposes.
Gamblers In grain and other farm
products on the commodity exchanges
knew no limit of bank credit in their
operations by which hundreds of mil
mons OF bushels of purely imaginary
grain which they had never seen and
never bought were sold short forcing
the prices for the farmers actual grain
down to the lowest point in history, and
so 1ar below the cost OF production that
Wneat was fed to hogs instead of hu-
mans or used for fuel! While farm
prices went down IS per cent or more
IN three years, the price of the manu-
featured products farmers needed, high
ly protected" by the outrageous tariff,
declined only 81 per cent The farmers
income went down 81 for every 81 that
the nanufacturers' income decreased.
Would Abolish Short Selling.
The President has condemned the
gambling on grain exchanges that dis
astrously affects the prices of farm
products. Progressives propose rigid
limitation or abolishment of short sell
ing OF farm products-gamblin in the
necessities of life for the benefit of
SPECTATORS.
Progressives propose also that restric-
tions shall be placed upon the Federal
Reserve banking system. so that the
available funds and credit of the coun-
try shall not again be withdrawn from
the use Of farmers and small business
men for a wild and prolonged orgy Of
stock gambling
The progressives believe that since
a sgriculture is the true basic industry
Of America, agriculture is entitled to
greater consideration at the hands of
government than it has been enjoying
Because agricultural needs have been so
generally ignored, the present economic
difficulty was inevitable. For many years
the equities and surpluses Of farms have
been slowly whitfield away, until today
the farmer Is without buying power
Thirty million live on the farms Thirty
million more live in towns and cities
directly dependent on farming. That
one-half of our total popu-
lation. With the buying power OF this
half destroyed, how could we have other
than an economic breakdown and great
armies Of unemployed7 To restore farm
buying power Is a main purpose Of the
Seek 10 Curb Injunctions.
Progressives propose that industry,
which fioated new securities amounting
to S50,65s 000,o00 from 1921 to 1929,
shall create. out of profits from the toll
Of men and women, reserves TO protect
labor against unemployment-or shall
reduce the working day and increase
wages so that labor may have Its just
share of increased efficiency and pro-
vide for old age and the proverbial
rainy day.
progressives will again attempt TO
secure operation OF the Muscle Shoals
power and fertilizer plants, represent
ing an investment of more than Sl25,-
100000 of the peoples money for the
peoples benefit, through reduced cleo
trio rates and fertilizer prices Pro-
save the waterpower resources Of the
Nation for the people to whom they
belong, for those who control water
power in the future will control pro-
duction and wealth and labor.
Progressives will strive again for the
enactment of a law protecting labor
and labor organizations against judicial
tyranny through the misuse of in
functions. In the Federal and State
courts injunctions have been issued
against miners and others on strike
which had the eject of taking the
roofs from above their heads, turning
their families out into the cold, de-
nying them the right to meet in their
own halls, denying them even the privi-
lege Of gathering in a church TO sing
flynnsl Yet they were not protected
by the same courts against the machine
guns and pistols In the hands OF hired
thugs sent from city slums to break
their strikes for a living wage.
Oppose Anti Trust Law Revision.
Progressives will oppose any revision
of the antitrust laws-as suggested by
industrial leaders and old-line political
leaders-that would more surely fasten
the hold of monopoly on business. The
nas been far too tender
with monopolies; its antitrust prose-
cutions have dwindled to a point afford
ing little or no real protection to the
people. The Government which will
not compromise with a gangster en-
gagged in the liquor traffic Is all too
ready to compromise with billion
dollar corporation almost openly en-
gagged in sitting competition by unlaw-
full and ruthless means for the enrich
ment of those at its head.