The Washington times., 1934-01-16

mover of industry but byproduct and that human beings
far important than production This is
tirey logical as development of Mr. Fords business
experience which based the and the pleasures
which the consumer takes in any product also natural
development of Mr. Fords leading ideas he has always
posed the central position Of money in America
The Douglas Systen
wonder what Mr. Ford would think of of the ideas of
the Douglas Social Credit system Mr.. Hemphl, of the New
York American has recently discussed of the financial
aspects of this system which strike being simpler than
most until they to certain point where haven't
knowledge enough follow them The striking idea which
have absorbed from the literature the subject may simplify
the problem too much, but it to to have lot OF
sense. This is it.
In ordinary times you an honest manufacturer go to
bank and say, 81 want to expand my business and build
wing my factory. Will you lend me money!" and
you get the money thousand hundred thousand bus
like yourself do the thing But If you as
consumer, to go to bank and say "Look here
want to spend lot money this year-lus on better
and theaters and Clothes the bank, 1 am
afraid, would have you put away
Luxuries-Fo Whom?
What happens when you buy all the things you
want? You do without them if they absolute necess
ties you borrow from loan society pledge your grand
mothers pearls Even if you have house and farm,
usually will money them only to make permanent i'm
provemens-no for your uxuries Yet all around you you
have thousands of factories rising advanced to
create luxuries.
It ism the unfarnes of all this that counts It is the lack
of logic If the producer going to be financed by drawing
against the future the time when the
will not be able to keep up with him and-in the wrong
phrase of two years ago-we have overproduction What
really have production out of balance with the power
buy. Overproduction would the existence actually of
shoes and boats than and Mr. Ford
has spoken of that saying practical what the
thcorst Dr. Kaen also said There be overproducton
long as people want thing and can't buy it.
Financing You.
The Douglas theory. understand it. intends to finance
the private citizen They call this financing Irrational div
dend It my impression that without adopting its ideas
the present Administration is already passing out sort of
national dividend when it puts to work abors not
urgently necessary requires businessmen to add hands
before demand for products has been felt We
financing several million people right in the hope that
they will create such demand for goods that presently by
1886, business will be normal again.
of the secondary ideas of the DOugas that all Of
together inherit fund of knowledge but only few of
reap advantages For instance all the discoveries of New
ton and Faraday property; in fifty there
will be few patents Edison nventions the roads built by
ancestors have been macadamze but the work of clear
ing the forest the essential work and every truck that
rides road is enjoying the fruits of the pathnder labor
peopare entitled to share in the profits of society We
have heritage only of special knowledge but of
ethics habits of business The who fought in the Revo
uonarv War made this free countybut only some of us
enjoy the freedom. Through the national DIVIDEND it is
posed that get little Of share And at the me
finance to keep up with producers.
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