The Waterbury Democrat., 1942-05-11

H NAtNlANE SaeS6N pn Americas living standards, the postwar erdepehdence of nations will tend to lift the standard of live Ing for mankind throughout the world, Henry, H.. Heimann, Execu- tive Manager of the National Asso- ciation of Credit Men, declared this morning in his Keynote Address! FCredit for the Duration-ano Afterl". before the 47th annual Credit Congress Of the National Association of Credit Men.
 With this prediction, MT. Hell mann cautioned the 1,600 credit and financial executives from A ytates in attendance at the Neither land Plaza Hotel, New York city, that i've must not overlook the fact that those nations which are best able to produce will make the great est contribution.
 Tt will need" he said, "the com bined efforts of productive ability and credit facilities to bring to the world 6 realization of just what the better way of life means.
 "The coursesof credit parallels the progress of civilization. Let us there- fore have the courage to use our credit ,judiciously once the struggle has ended Let us bring relief to the suffering abroad. It will be bread cast upon the waters, for 1t will return to the world an appre- ciation of the things that are noble and good, things that follow the doctrine of the Man who preached message of brotherly love that has survived through all the ages.
 "Let Us thoroughly understand, as we could never understand in any peactime period,- that all of the material resources of the world are of no value unless they are used for the purpose of contributing to a better law of life. The exception to this snust necessarily be their contribution to the struggle to main- tain our ideal of better way of life.
 If we have this vision before us, and if we have the courage to put Into effect these credit policies, then It can truly be said that the likeli- hood of a long peaceful era is a quite reasonable expectation.
 "A man who has an opportunity to work, to clothe and feed himself and his. family, to provide them with adequate shelter, is not a sub ject upon which dictatorship can thrive. He tills no soil from which arise the poisonous weeds of doom hnd destruction, He gathers, instead, the blossoms of prosperity and peace that spring from the soil of freedom and human deflnity.
 These are the goals that should be constantly before us. The ideals gan be reached, and we in this country-you and I-can play Q major part in attaining them"
 One of the very important home front economic battles that we have laced, MT. Heimann said, is that of rising price structures to the point bf serious imitation.
 Sacrifice By All
 "It is idle to speak of control of nflaSionary forces if we approach our program in cowardly fashion, !" he warned. "ThiS war entails Sacri- hce, not for the other fellow, but for you and me, for every living human being.
 No segment of our people, ir- respective of their political strength pr their bellicose attitude, or their clustering demands, should escape this sacrifice, nor can they escape It if we are to be successful.
 "A price control program cannot work in three spheres if 1t leaves 8 four uncovered. It cannot apply to the middle class and miss the wage eaner, the farmer, or the extremely wealthy. Limitations of profits are part of limitations of wages. Limita- lions of food costs and rationing are part of controlled economy.
 we do not wish these unnatural restrictions in eraS of peace. We recognize they violate sound eco- homie laws-but so does war. And even the most conservative must be ready to acnuiese in some measure of violation of economic laws in the interest of defending our economic system. Hence we must stand back of a price control program, con- stantly correct its weaknesses, and courageously make it all-inclusive.
 "This is no period for the per- lnanent accumulation of capital. I do not mean to suggest that it is no period for thrift. Savings were never more essential. But those sav- ngs in the end, at best, can only restore the purchasing power that rising price structure has liqui- dated.
 "In addition. they must be dedi- gated for use during 8 readjustment period. We are face to face with the proposition of not only saving our way of life, but also of saving our AIife's savings. Whatever accuInuIa- ton has been the reward of thrift and Of industry should be defended at all costs. Unlss we do defend 1t and are willing to make sacrifices, how can our heart and soul be in the military struggle?
 Equity Essential
 Convince the American people 'that the burden Is equally distrlb- .ited according to their ability and zAlaamg szFill meat anKR Oaaf RNVs aaa,1fiRA