Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1939-12-28

use the word guess literally,
too. Any forecast beyond June @o'
1910. at this time, is mere guess.
No man-not even Hitler or STAIN
knows what will happen abroad III
the second hall Of next year. Adu 70
This world confusion, our dolNeStc
uncertainties, particularly tle preSl-
dentiaI election. Only 4 chlyStalgaZer
or ! fortune-teller could aspire TO
Give YOU an answer now to cllhef
the war or the election. Hence, lor
the first time in two decades | dare
not make. at the New Year period,
a specific forecast for more than me
first half of the coming year.
Two Possibilities Second Hall
STRANGE as ii SOUNDS. rlght now |
think there are only two possibilities
fo, fine second half: CD \ rip-roaring
boom or GU a sickening crash. Alter
the nominations are IN. we should
be able to tell which of these two
dcvelopments Will take place. Hence
| shah not give readers my definite
forecast for Jobs wages and business
il me second half OF 1910 until June.
In the meantime. no one will make
any money by Worrying about late
1o4O The successful people next
wear will be those who take adVan-
taoe of the great opportunities OF
the early months For ten years we
have waited for good times" to
come back. They are here now bu1
nobody seems to want to do any
thine about them Fears and mcer-
tainties should be forgotten for a
re,y n7c,,+7>- r'-..*einlv my one who
is prinarII, ..ustied about Congress
is fretting unnecessarily.
Don't Worry About Congress
DESPITE the war. it looks as thoueh
tho 1910 session of Congress would
be typical election-year affair
Most Washington observers are fore
caytina a brief routine session en-
lvened only by prediction warm
ups end patriotic tub-thumping. No
new reform or anti-business laws
will be passed Only major legisla-
ton which has 4 chance is prO-busi-
ness. including amendment Of the
NN Wagner labor act. CD. mOdifi-
cation of the wage and hour act. and
CD the passage of the Mead credit
bill.
-. am reasonably sure that no new
Federal taxes will be imposed. Pay
as-vou-go talk in December is one
thing-action by Congress next
Spring is another. Secretary Wallace
would like to see the processing
taxes revived under some type Of
sugarcoating-bu this wouldn't be
good politics in an election year. You
can bet your bottom dollar, however,
that the total share Of your income
taken by Uncle Sam-cOumting both
income and hidden taXes-Will not
be a penny less than in 1889.
Record Spending
But because taxes are being 'frOZ-
en-. do not imagine that an economy
wave is sweeping Washington. #
definitely is not Farmers benefit
DavmentS will be almost IS bic as in
1889 Relief costs will still be heavy
despite increased Jobs Outlaws for
defense will break all recOrdS-ln
half 4 billion dollars over 1889 If
there is any pairing down Of expenses
il will be done purely for window
dressing purposes. Net results will
be another Whoppng deficit for the
Treasury-as big. or bigger than, in
1870
Hence. the Roosevelt administra-
ton will come down the Straighta-
way Of its last year with the eighth
consecutive deficit and a national
debt Of nearly So, 100000, 0OO-up
S20.000.000,0 since 1888. It will be
a sorry record indeed for a presi-
dent who chided his predecessors
administration as being the most
eXtraVa9ant and reckless Of. any
peace time government anywhere,
1T any time" Despite this record,
Mr.. Roosevelt is still popular with the
majority Of voters. They particularly
Ike his foreign policy and his mann
moth defense program.
E!oavy Industries 1910's Shark Plug
This record-breakinp defense pro-
gram is Just one Of the four props
under 1910 business. ID Trade gains
with neutral countries, (2) rising
buvino power in cities and on farms,
and CD heavy industries boom are
the other supports which will hold
business at high level Most i'm
p0rtant Of all these is the renaissance
in the heavy industries. In the BOOM
let Of 1861, the consumers goods
industries furnished the drive. Today
the burden has oeen shifted to the
broad shoulders t such industries as
steel mills, railway equipment shops,
and machinery makers.
For five years we have tried to get
the heavy industries going. That's
where most Of our unemployment
mas been. So the upsWing in these
% q L,11ci,,orre.,, LII l. a u,