The Waterbury Democrat., 1937-01-07

ment which will result In q SUBJ
stantial increase IN business to the
capital goods industry.
The cost Of essential capital Is
exceeded by no other cost factor
entailed IN the supply Of electric
service. In recognition Of this
fact, the industry has been prompt
to avail itself Of the prevailing low
interest rates and has undertaken
with marked success refunding
operations which In the aggregate
approach one billion dollars. The
savings thus effected have helped
materially to make possible the
notable record Of the years rate
reductions Notwithstanding progress
sively rising costs and higher taxes.
Rapid development OF the cleo
trio service market has been par
ticularly pronounced in the rural
areas. This has been facilitated by
the improvement In agricultural In
come.
Important as these developments
are, they are overshadowed In sig
nificance when compared with cer-
tain developments affecting indus
try as whole, Of which the cleo
trio power industry Is but a part
Some Of these developments follow:
Il. For many years industry has
not only brought out new products
Of great value TO large numbers OF
people but has presented them To
the public 80 skillfully that wide
spread demand for them has been
achieved, first as luxuries, then al
necessities. The fact that wide
spread ownership OF these products
depends upon adequate facilities for
consumer credit has been recognized
and these facilities are not afford
ed to an astonishing degree.
To-day, industry recognizes an
other requirement necessary TO the
widespread use Of It's products: In
comes that are adequate. Industry
Is addressing itself TO this problem
-. AS has been pointed out, in
dustry has for many years been
successful in creating a wide mar
ket for It's products but 1t nov
recognizes that 1t has neglected u
interpret its policies and to promote
confidence In them. The result Is
the anomalous situation of univer-
sal faith In these world famed pro-
ducts coupled with distrust OF the
policies which have produced them
Industry Is facing the problem OF
correcting this serious delinquency.
"3. Industry has given thought
full consideration to determination
OF the things which are earnestly
desired by the people. AS a result
industry recognizes that the people
want an uninterrupted opportunity
to earn livelihood, protection
against old age dependence
and TO enjoy the better standards
Of living which are afforded by
both the new and improved pro-
ducts of industry itself. Industry
agrees that these desires are fully
justified and Is devoting itself to
solving the problem Of their
realization.
There are many advocates OF
socializing the production and dis
tribution Of goods and services. The
hope, of course, Of these advocates
Is TO thereby afford the good
things of life to as high as percent
age as possible Of the people. Indus
try LIS in complete accord with this
objective and is confident that 1t
can be more quickly achieved under
the private ownership economic sys-
tenn, than hinder any other, pro-
vided only that there be sincere CO.
operation toward that end on the
part Of all at interest. To recognize
problem constitutes distinct prog
ress toward It's solution. 1885 may,
therefore, be designated as a year
of notable progress"