The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-05-31
J. G. PENNEY SAYS
j. s. BUSINESS IS
Climbing UPGRADE
Tells Local Merchants to Follow
Golden Rule in Talk
Before KiWanis

Industrial conditions are on the up
grade, ]. G. Penney, head Of the re-
tail organization bearing his name,
told Is Bismarck businessmen, MEM
bers and guests Of the local Kiwanis
club, at the organizations luncheon
meeting Tuesday noon.
Encouraged by President Roosevelt's
leadership, the merchant said, ''peo-
pie are throwing off the nightmare
of fear which has enveloped them
during the last three and a halt years
Of depressed business conditions. We
are not yet out Of the woods, but it
appears that the light is breaking"
A noticeable characteristic Of the
present period, he said, is the freedom
from prophecies. 1.-THE side line
critics are not as voluble as they were
a year or two ago." the speaker said.
During these years we have been
tempted at times to follow prophets,
but that got us nowhere, and-What
is worse-it affected our morale"
Are the standards which we set
for ourselves a few years ago the right
Ones" he asked, 'or have we been
worshipping false gods?" He declar-
ed 1t may turn out that the error bus
lnessmen have made was that Of &C.
cepting 1928 as the criterion for fu-
ture operations.
Speaking Of the enormous losses
suffered by most businessmen, Pen
ney said the most happily positioned
is he who has accepted inevitable
losses but has consolidated what good
remains
Attacks Sales Taxes
Attacking sales taxes, he said the
most serious threat which business
may expect is coming, it appears, not
from anything inside its own ranks
but from outside forces. There is a
real danger In this situation and one
which cannot 60 unheeded. Putting
any form OF retail distribution under
extra load, as Is now being done, has
been found in the past impracticable
and injurious.
1T Is becoming clear to all students
OF economics that there is q place
for all forms Of retail distribution
and that the security Of the future
rests In the development Of the pro-
cesses OF carrying the products Of the
nation to the consuming public with
as few intermediate expenses and In
terruptions as possible. For once in
the business history of the country it
is clearly evident that the payroll Of
the nation is supported by its retail
sales structure"
Penney based his observation that
business IS looking up on the fact
that unit sales are increasing, merch-
ants are facing the necessity of re-
stocking and that employment Is in
creasing.
Switching from the economic dis
cussion, he admonished the CAPITAL
City businessmen that their best op-
portunity for success is through prac-
tice Of the golden rule.
He pointed out that some Of the ma
tion's greatest businessmen overcame
what seemed to be insurmountable
obstacles by adhering to the rule laid
down by Jesus Christ to do unto 9TH
ers as you would have them do unto
you.
He then discussed Just how this
rule has been and can be applied in
modern-day business, particularly in
retail establishments, and closed with
a statement that such institutions as
the Bismarck Kiwanis club indicate q
fostering Of brotherhood and appli-
cation Of the golden rule.
Made Special Trip
Penney made special trip here
from Dickinson to address the local