Milford chronicle., 1936-01-17
THE FACTS WE FACE

Win HOpS ana ambition and cOul
age.
During the year just closed indus
try and agriculture, the only sour
ees of wealth and employment, re
covered some of the ground las
during the worst of depression
Most industries made progress
some even came close to the pro
ductiOn records attained during
1929. Near the end of 1885, business
as whole reached the highest point
since early 1881.
Business commentators are al
most unanimous in expecting 1886
to show improvement over 1885.
Even so, business does not feel the
jubilance it would normally feel un-
der such circumstances, nor does
agriculture. The upturn in business
is encouraging--yet there is very
little to give a feeling Of confidence
that we are approaching stability.
While the financial and industrial
barometer continues its climb, un-
biased and far-sighted observers
are gravely wondering what the flu
ture holds.
Why should this be so during a
period that, measured by figures
alone, cannot De called other than
period of recovery? There are many
answers-but this, to put forward a
generality before approaching the
specific, is unquestionably true: In
dustry is afraid!
II is afraid of governmental poll
cies, principally of federal origin,
that seek to negate the spirit, and
often the letters of he Constitution.
II is afraid of n spending policy
in which the federal government
has led, and has been followed by
many local units of government
that has caused our national deht to
reach an all-time high. that has
greatly increased taxes, and that
must inevitably make still higher
taxes necessary.
II is afraid of political programs
which. carried to logical cOnclu-
siOns, make it impossible for indus
try to earn profits. A number Os in ;
have had taste Of this al ,
Feady-they have sold more gOods, !
more men, kept more fac !
tories in operation. yet have enjoy :
ed no comparable increase In their :
/
Ii is afraid of persecution of in .
iustry, and of measures which, in =
effect. transfer management from :,
he owners and executives of indus -
rial properties to Office holders in =
and, to a lesser extent,
n state capitols. A notable example "
II this is the Public Utility Act of u
1886, now in the courts, which =
marks a revolutionary departure d
rom our time-honOred concept of 81
he proper relation between indus IL
ry and government. Under the
erms of this Act, eectrlic cOmpan- cl
es can he forced out of existence OF
Eith loss of billions of dollars to y
heir stockholders, at the whim of W
commission, and can be federally C
eguatled in every phase of opera W
ion. Leaders of other industries. ~
eeing this, know that such a trend. i
nee started. will not be long con- ",
ned TO a single industry, but will "
Z gradually extended to others. en-
Business is afraid that private in SC
atiVe and enterprise. foundation Sc
ones of the republic, are in dang M M
f; that our democratic theory is HI
coming tinged with alien theories SCI
Itch have sounded the death kneil SCI
liberty and freedom in other 10
Ids; that even a dictatorship seI
ms on the horizon. WI
/ cannot be disputed that the old Ora
tus of States Rights, for example u
) been drastically changed-that pro
federal power has crept steadily es,
o spheres that we used to believe +
re the sole province of state and owe
al powers. This, whether we real ing
it or not, and whether those re- HeI'
'nsible for the change realize it uay
not, is the first step toward die yea
Orship. Under our Constitutional Fre'
up of government, no dictator iuel
I'D seize absolute power because MIN
seats of power were purposely IaIy
de many and widespread-One IeG'
b in the 4S states, and one in Gar
AS the powers of states Vey
abTOgated or lessened, and as guar
central power is augmented and tam
the opportunity for Zee
establishing q dictator bra'
whether it bears that name or tne
therLis immeasurably imprOv- VIII
must not be forgotten that q CAM
rt time ago a number of men hera
ling responsible positions in ware
advocated, either di- tuna
ly or by intimltiOn, Constitu- deati
al amendments and changes palu
n would have given the federal lact
Unprecedented powers ment
individuals, over industries, camp
agriculture, ever all the rights II ma
liberties for which onr rore- past
srs fought. Less is heard from sum
sources of such changes now time
the kind of thinking that first iisI:
Gated them remains Inc
q fears and uncertainties man. ringtC
d here, plus too much politics intere
all factions, are Lhe grentest mouse
to real recovery, and 20 perma- a lari
stability. America still has her hremt
e soil--she still has her indus graciC
and her factories. She still has gift o
which ran produce the arrani
s that create genuine jobs, and partle
raise the standard Of living of auXilii
e people. She s ~ has the Am daily
4 spirit that faces great OBJ be ms
IS gladly, that ap: reaches the freshn
difficult tasks with mbilatiOn. year