Evening star., 1936-11-24
Jones Speech in Forum
IF. c. Chairman Foresees Era of Good Business
and Calls for Congratulations Investors
to Use Care in Buying.

many of our strictly domestic COM
panies cover toe much territory. It
is becoming more and more dificult
for the smaller independent units Of
business and industry to succeed.
Entirely too many self-perpetuating
bodies and boards control the money
and credit of the country, money
and credit that belongs to the peo-
pie. This Is the natural result Of
concentrated power, and is not good.
1t was clearly manifested on November
3 that there is a growing opposition
to this and kindred tendencies.
The head of our biggest bank,
Mr.. Winthrop Aldrich. outspoken
against the Presidents reelection,
said the other day in a public speech
that If business is to avoid the danger
of prescriptive government regula-
tions, 1t must guide its activities for
the public good. Mr.. Aldrich further
said that no man can long keep his
work to himself nor plan for himself
alone. free to do as he pleases, ir-
respective of outside consequences;
that If we wish to avoid the dangers
inherent in centralized authority,
every one in responsible positions must
guide his actions with a view to the
public good.
All should realize this, as all should
realize that there must be work for
people who have to work for q liv-
ing, and at living wages, and relief
for the dependent. As business and in
dustry are able to absorb the en-
ployables, private charity can and
will, in large measure, take care Of
the dependent.
But we may as well understand
that to whatever extent private en-
ployment is lacking, the Government
will have to take up the slack. And
that the profits of business and in
dustry will be taxed to pay the bill.
There is no other way except a tax
on capital and, of course, there should
be no tax on capital as long as there
are profits and income to tax.
Many Suggestions Made.
Many suggestions have been made
in the last few years about how to
apportion the available work so that
all employables can have fair share
Shorter hours, fewer working days. or
some method Of rotation have been
discussed. A combination Of these
might prove effective. Either that,
or a very much broader public works
program will be necessary. 1t all
comes to about the same end.
If every family able to do so and
every business Of whatever nature
would hire one or more persons in
addition to those presently employed,
the relief problem would soon adjust
itself.
Government expenditures have been
necessary for relief. and Government
credit has been necessary in every
field of endeavor. Each was neces-
sary and each complemented the
other. without any severe strain on
Government credit.
During the campaign called atten-
ton to the fact that emergency credit
agencies of the Government had pro-
vided more than SIS ,000. .000. 900 credit.
and in a busineSslike manner. 1t is
reassuring to me, as am sure 1t Is
to you, that our Government can
operate efficiently in business when
necessary.
1t is interesting to have demon
strated that men of ability and in
tegrity come forward in time Of eco
nomic distress as readily as in time
y cry che is in position
to leave home, business and private
responsibilities for indefinite periods,
but always there will be found in