Henderson daily dispatch., 1940-12-27
Babson Urges Confident
View of Future, Realizing
Crucial Days Are Ahead
Continued from Pcge One)

Continued from Pcge One)
the majority of our people enjoyed
the best and most prosperous Christ
mas they have had in years. We have
all had many uncertainties to face
during 1910. Not the least of these
was the election. l hope that for the
next four years it turns out for the
best. Certainly, during his current
term, the President will follow a
more conservative course than he did
during the first two terms. Business
is very much better than a year ago
in both the United States and Cana
da. Year-end dividend checks are
larger and more widespread; en-
ployment totals are expanding; pay
rolls are mounting; and pay enVe-
lopes are fatter.
Last December, said there would
be gain Of 10 to Is percent in bust
ness over the first half Of 1889. In
July of this year, I said that the
second half of the year should show
six percent gain over the first
half of 1910 and last half of 1889,
with maybe the best final half year
in the history of our country for
1910 wind-up. This put me on the
spot, but the statements were am
ply justified. The record shows that
in the first six months business
averaged 11.6 percent above the first
half of 1899. In the second half Of
1910 business is averaging five per-
cent above the first half Of the year
and is ga percent ahead Of the last
half of 1889. Business is currently
four-tenths percent above the final
half of 1929, which makes it the best
final half year in history.
II dispatches can be counted upon,
Italy is cracking up. In spite of this
favorable situation in the Near East
for the British, it has released little,
if any, optimistic comment here.
Perhaps recent pessimistic utterances
of Mr.. Knudsen and the President
have nullified any upward squirt in
the stock market which might nor
mally be expected as encouraging
news comes in. If so, this is q
healthy condition. We want no run
away markets whether in stocks,
raw materials or commodities. Rath-
err, we must have attention to the
work in hand, to the vitality impor-
tant defense program in all its var
GUS phases.
Madam Perkins may for a time
convince the administration that a
4O-hour week and increased indus
trial production can walk hand-ln-
hand. l doubt it. Certainly, harmony
is necessary between employees and
employers if our defense program is
not to be interrupted. It is obvious,
too, that if 40-hour week puts more
people to work, whole communities
benefit by less unemployed. Factory
workers are real spenders. But there
is no point in penalizing industry
in creating production bottlenecks
through wrong Federal law. When
the wage and hour bill was signed
by the President on June rs, 1888,
and went into effect on October "a,
1888, it's sponsors had no idea the
present national emergency would
exist. Washington leaders are vitality
concerned with the retardation 1t
may now be responsible for in our
industrial expansion.
Washington Carries Load.
AS the originating and focal point
of the preparedness program, Wash
ington carries a heavy burden. The
State Department, under able Sec
rotary Hull, although necessarily but
little publicized, bears the brunt OF
it. Added to the other formal gov
eminent departments are various
commissions and agencies. All are
attempting to bring order out of the
initial Encouragement and chaos
arising from the "about face" which
our nation, in competition with to-
talitarian powers, has been obliged
to take. Many of our governmental
heads and employees, in spite of the
wage and hour law, are putting IN
plenty of overtime. Volunteers like
Knudsen, Stettinius, and their as
sociates are making real personal
sacrifices. Knowing these people,
realize that our affairs and our tu-
ture are in good hands.
1910 will pass out of the picture
within a few days. We can be thank
full for good year. Let us now take
account of stock, settle down, ano
get ready for the new baby l94l VIII
bring. 1 am glad to be alive IN these
interesting and stirring days. M,
emergency until the world is again
at peace. My only beef is that l an
not forty years younger. I am today
making no forecasts: On the last day 4;
of this year, I will give in detail
in my annual outlook, my ideas ea a
to what is ahead for 1941. Mean
| while, my suggestion is that we a: al
take courage-that we discount dis
heartening rumors, and remain, eacl