Evening star., 1940-02-12

/ II
By, American Man
Discusses Need for Greater
Understanding Of Urgent
Problems
| To the Editor of The Star:
Over date Of January 20 and in your
issue Of February there was published,
with the signature American Woman" /"
a communication dealing with the pres
ent economic situation in the United
States that read with great deal Of
interest. Here is woman who has been
doing a good deal ,of intelligent and
logical thinking about problem of the
utmost magnitude and immediate i'm
portance. I agree in substance with
everything she writes.
May I submit few supplementary
thoughts?
I'd Investment Of all our idle billions
with no prospect Of immediate returns
will not take place under present condi-
tions.
90 Government pump printing as
at present cannot continue for many
years.
This leaves only the third alternative,
IAN economic system wherein goods
would be produced for use and not for
profit"-unless there is a fourth or a
fifth way of dealing with the problem.
Since 1888, when lost q perfectly
good job with an old-established firm
and had to seek another which I did not
succeed in getting for more than two
long and difficult years, have given a
great deal OF thought to our economic
scene. I am not quite so confused about
it now as was in 1888, but I still think
the situation is very complicated. Every
avenue OF thought I have been able to
discover leads to some sort OF nationally
planned economy. 1t will take con-
certed effort, unprejudiced study and
unselflsh cooperation to accomplish the
desired results.
Private industry Is too unorganized.
the finapciers and bankers are too self
interested and (sicD too ignorant Of
economics, and the States are too small
as units of government and too power
less as to our money system to do the
job.
National economic planning? Produc-
ton without profit? Horror on the part
of the haves!
But wouldn't the haves give up some
OF their surplus wealth and some of
their temporary power over others in ex-
change for some measure of insurance
against the competitive, "dog-eat-dog"
business struggle; some assurance, even
partial, that their business would not be
among the 80 per cent of business
ventures that are doomed to early finan-
cial failure in America? And wouldn't T
give up some of my present liberty of
action in return for some measure Of
security in my just moderately paid job?
And what about that 5000 annual
income that the Brookings Institution
says is quite possible for every family in
the United States right now, if our pro-
duction facilities were operated full time,
but not overtime, and the resulting
goods equitably distributed? Just think
what that would mean! Fancy a society
IN which every one had all he really
needed, in which all motives for mean
ness and for crimes of acquisition were
removed! Small need for prisons!
But the masses of our people are Door
in the midst Of potential abundance.
and one Of the reasons is the high rate
OF return sought and demanded by
capital. One can hardly blame capital,
IN view Of the risks involved in our un-
planned, haphazard, competitive system.
Yet statistics show that over a long
period OF time our average national
yearly increase in wealth is Just about
per cent-compounded annually. of
course. Figure that out. 1t is, after all.
rapid increase In the Nations wealth.
But, whenever capital takes more than
ABOUT per cent return on its invest
ment, 1t does so at the expense Of
other capital. And there is where our
bankruptcies come from. This is how
wealth is continually being concentrated
49, SAAS AAoAAAo Va e4AOSC VIII dUcAOy nave
wealth. Who in our Congress Is capable
OF dealing with our basic problem Of
banking and currency? Or with taxa
ton as a means Of putting unused capi-
tai or misused capital back to its proper
work? Remember, money is not wealth.
It is only ticket to wealth. It is a
man-made device and, when properly
handled, is mans convenient servant.
But the servant has become his makers
master because his maker has misused
him.
What mass Of opportunity lies today
at the doors of the United States! And
what a mountain of disagreement about
how our opportunities should be used!
February 8. AMERICAN MAN,
Drivers and Pedestrians Urged
To Get Together.
To the Editer Of The Star:
It has been with great interest and