Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1940-12-07

N has always been the custom Tor
big deal to be closed by two parties
sitting across the table from one
another: a buyer and a seller. Great
fortunes were made. frequently, by both
parties The seller sold his property for
a fortune The buyer made a fortune
out of the development OF the property.
But things have changed. In this
day. THREE parties sit at the table at
every deal The most important winner
in every transaction is the third party
the tax collector. He is the house
man" who never takes a risk but takes
most of the profits on every deal,
Accordingly, the American spirit OF
taking a chance" is pretty we'll broken.
Why should a man hazard his lifes
savings against the chance to make
fortune when he knows that perhaps
70 or 80 per cent of his profits will go
to the tax collector?
All great American institutions were
built up by people who were willing
to TAKE A CHANCE. Thus newsboys-
sons of poor parents-have become mil
lionaires AS. a result Of this system
the United States leads the world in
wealth and enterprise. 1t WAS that
way but new order has come, as the
high cost of government has overshadow-
ed all other phases of business
The friendly cop who once stood ON
the corner outside the house to drive
away the criminals and warn the way
ward-the one who used to stop in
for an occasional friendly dinner has
become 1.-The Man Who Came for Din
ner" and the cop has now moved in
and has taken over supervision of the
household in its minutest detail and
when members of the household want
IN do ic Wh
them how and when they can do it and
accordingly he must be- cared for a
head of all Others
And so it is that when a man is
offered an opportunity for a highly
speculative investment with promise of
a large return. he is inclined to say:
why should I take a chance: the gov
eminent will take it away from me if
I win and won't share my loss should
the proposition fail.
There is a generation growing up
that is convinced that it is ridiculous
for a man to try to get ahead: content
with the implicit faith that the govern
ment will take care of him. No longer
Is there a reason to save for rainy
day'-for will not unemployment COM
pensation care for such contingencies?
Is there reason for trying to get an
income that will take care Of one in old
age. when old age pensions and social
security will care for that?
That is the idea OF a growing genera
ton but some of the older heads know
that the vast savings of the masses, re-
presented by social security taxes, are
being spent faster than they are being
collected: that new sources of tax rev.
enues will have to be created to pro-
vide the funds to support the aged in
believe that only NEW WEALTH rather
than the printing of money, can maintain
American standards in the future.
Be that as 1t may, there are politicians
who assert that that they can better
administrate American business and in
dustry than can the men who created
and built American business and industry
The richest prize of the politicians is
the oil industry the richest industry
in the world. Mussolini or Hitler
would trade their relationships for con-
troll of the American oil industry. So
it is not surprising that American
thing-measured only in political pres
tige and not in the money which they
lack-to gain this control.
1t is highly probable that in due
course Of time, some sort of federal
control of the oil industry will come, as
a war measure or otherwise. There
isn't much to be done about 1t. Refer
ring to the Policeman who came for
dinner" it is almost useless to try