Evening star., 1938-01-12

sciousnesS rather than any specific in
dividuals. His objections as publicly
expressed were impersonal rather than
personal
This is clearing of the air itself.
1t encourages -mindedneSs 1t re-
moves from the scene to no small ex-
tent the basis for the personal ami
AmoSities which have characterized dis
cussions of national problems as they
revolve around the President himself.
In the midst of this era of better
feeling comes to the White House
group consisting of Alfred P. Sloan, jr.
Of General Motors; Ernest T. Weir of
National Steel and one of the leaders
IN the little steel' group, Lewis H.
Brown. the head Of Johns -Manville
Co.: NJ. w. Clement, who heads up
the Pennsylvania Railroad System,
and Colby Chester, chairman of the
board Of the General Foods Corp
and also president of the National AS
sociation of Manufacturers.
A Practical Group.
Such group represents prestige
and influence in the business world.
It also represents a definite relation
ship to economic problems which has
never been, and probably never will
be. partisan or political, but, broadly
speaking. is economic and practical.
1t requires no eavesdroppng at such
q conference between business leaders
and the President to know the re-
spective viewpoints-What the Presi-
dent and the business men each feel
Is at the bottom of the present busi-
ness recession. There could easily be
agreement as to some of the major
causes. but there is bound to be diff
ferences Of opinion as to methods of
moving the economic system forward
and bringing back employment.
The essential point of departure is
In method, in attaining the objectives
which business and Government each
seek The interesting fact which has
to be borne in mind is that business
Is primarily interested in production,
in efficiency, in increasing output per
man, in meeting the demands of the
investors for fair return on capital,
AS for Government, 1t represents,
through the President and the Con-
gress, solicitude for broad social con-
siderations which sometimes, because
Of the presence of mass voting power.
does things with benevolent purpose
which have the effect of frustrating a
commendable economic purpose.
No Conflict in Arms.
, Mr.. Sloan, for example, in his pub
lie speeches has urged that America
pay high wages and maintain a high
standard of living. Mr.. Chester has
expressed his desire for more liberal
and more flexible attitude on the part
Of business men toward the social
problems of the day.
What. then. impedes progress? 1t is
the often aggressive use of economic
power by companies, by employe
groups, and by financial men who,
Under competitive system, keep their
minds and their energies grooved with
In the channels of their own endeavors
largely in preoccupation with their
own interest whilst the public inter-
est, often feebly championed by Gov
ernment or overzealously defended,
suffers because all thes, differing
points are not reconciled or meshed
in an intelligently planned march of
capital. or labor. Of productive proc
esses.
The task is simply stated but with
difficulty achieved. Under system
Of democracy and individual freedom,
subject only to restraints for fraud or
dishonesty, the accumulated savings of
mans labor, known as capital, asks
for . fixed interest rate when funds
are loaned, and fair return and
assurance Of some safety when funds
are invested In stock ownership
Labor on the other hand demands
. fair wage, too. Each has the right