The Western news. [volume] (Libby, Mont.) 1933-current, 1935-01-17
CONFIDENCE THE ONE THING
NEEDED. SAYS GEN. JOHNSON.

The saturday Evening rust VI oaii-
uary IL starts a series of articles by
General Hugh S. Johnson, he who held
the attention of the nation for so many
months by his vigorous administration
of the MIRA General johnson discusses
the depression, what caused it and what
he thinks would cure it The one thing
needed is confidence, says the doughty
general; confidence in the minds of the
men who are conducting the industries
of the nation that they will not be
penalized in such way as to ruin
them, that they will not be considered
public enemies, and that if they expand
and employ men all the fruits of their
industry and enterprise will not be
taken away from them. General john
son probes to the very heart of the
matter when he says, in few of his
opening paragraphs:
Before proceeding to discuss these
questions, it should be urged that every
element for prosperity IS here-money,
vast pools of credit great resources,
starved demand fine facilities for man.
ufacture, sale and distribution, and a
brave, active, alert and patriotic people.
1t is trite to. say that the single missing
element is confidence.
But confidence felt by whom BY
workers? By farmers? No; farmers are
producing as much as ever, and will SO
continue. They have to. But workers
can't work unless somebody will pay
them wages The answer as to whose
confidence must Re restored is SO OBJ
vious that it hardly seems debatable.
Men can't 60 back to work until
money goes back to work, and money
won't 60 back to work unless those who
have or are responsible for money tc
invest in creating work know that
once it is out of their hands, no magic
is going to frisk it away like fairy gole
turning into crisp and colored autumn
leaves.
1t is perfectly clear that recovery II
big and quick and powerful wav,
awaits only an impeccahle assurance i,
deeds, and not words, that no sucl
thing will happen. That is all there
to it. 1t could be done Immediately
And unless it is done promptly, Their
is no end in sight.
There are now currerk lot of i'm
passioned appeals to banks and indus
tries to get busy and start recovery
Some business associations have evel
talked as though they could do this. T
me that seems nonsense. If any bust
ness man held the key to recover
all this time and did not use it. h
ought to be lynched.
No business has held that key Bank
and business corporations are trustee
of o. P. Mother peoples none,
They are there to do business whe
they can do so safely and in prope
discharge of their trust They are avi
to do it when they can do it that way
that is, profitably But there are pen
if tiaries and bankruptcy courts an
public condemnation for people VIII
play recklessly with their obligation
No amount of belaboring business an
talking about timidity, by men WI
never conducted business in the
lives, is going to change these essenti
responsibilities.
To demand that industry at once giS
employment to 100000 men is ds
mand that it produce far more goos
than it can SELL or increase its plai
capacity when there is no market Fl
its. product No responsible manage
ment can do this, and surely no sur
thing can be done in the threat al
uncertainty that becloud the prese
economic horizon. To make this d.
mand and couple it, as Mr.. Richie
recently did, with threat that, unle
industry does SO employ these millior
the Government will, smacks of Il
modern caveman who wooed the obje
OF his affection with the statemer
Love me, you, or I'll be
you to death"
Furthermore, the threat itself of t
Government employing 10,D00,0 900 M
is absurd When these idle had wor
the American business turnover W
about $4,000 100000 II is now abo
: $40, 0O0,000,0 900. At the most that Go
arnmpnt could do II might emnI