Browning chief. [volume] (Browning, Mont.) 1941-1953, 1944-06-30

Barrow Lyons appeared in the
programs of all
Of the important farmer organiza-
tons and in the resolutions of most
labor conventions. Organizations of
manufacturers have accepted re-
sponsibility for operating industry
at a level to produce something like
this income.
How revolutionary the idea may
turn out to be can be gathered from
one glance at the figures for nation
al income over a period of years.
Before the present war the highest
national income occurred in 1929,
when the figure climbed to 86
billion dollars.
But in 1941 national income
mounted to 81 billion; and in 1912,
under the singing lash of Japanese
aggression, we threw ourselves into
production effort which lifted in
come to 122 billion. Last year we
achieved 148 billion-53 per cent
greater than in 1929 and more than
double the volume in World War I.
The fact that we can produce
goods and services in quantities
never before dreamed has been
fixed in our minds so that it
never can be forgotten. With the
natural resources at hand to produce
in abundance, and the will to work,
why can we not produce always all
that we need to enjoy life to the
fullest? That is a question everyone
is asking.
In fact, there is general belief that
perhaps we can do so. This soon will
appear in the platforms of both
major political parties. In all prob
ability, Republicans and Democrats
will promise an economy of abun-
dance, if their candidates are
elected.
But there are many sober men
who point to the tremendous bor-
rowing that has supported our war
activity, and who declare that we
cannot continue to operate on SO
high a level unless we continue to
borrow just as heavily as we are
now borrowing, or continue to tax
as heavily, or do both
One can predict without hest
tation that if borrowing or taxing
continues at present rates after the
war, that there will be an outcry
such as we seldom have heard.
One can as surely predict that if
we do not continue to borrow and
tax on huge scale, production and
national income will decline. And
unless there are mighty powerful
| ohoolye
now at work will bring about infla-
ton that will devastate the purchas-
ing power of everyone.
We had a hint of what labor's re-
action is likely to be, when the navy
department threatened to cut back
production in the Brewster airplane
plants.
1t is clear that if millions of
men are without jobs and lose
their purchasing power, that the
demand for farm products will
fall away. In 1882 net income to
persons on farms from farming
operations dropped to 2.3 billion
dollars, and farm income was
only 5 per cent of national in
come. Last year net farm in
come was almost seven times
as great as in 1932-more than
IA billion dOllarS-and almost 10
per cent of a national income
three times as great as in 1892.
Nothing could be clearer than
that farm income and the in
come of industrial workers are
inseparably bound together.
Also, that unless there is a
strong demand for farm prod
ucts, their prices, left to the
mercy of the sensitive open
market, will slump.
To meet this threat, farmers
demand that prices of farm
products be maintained at
parity, thus protecting the pur-
chasing power of the farm dol
lar although not insuring
farm income, which depends on
the volume of goods sold as
well as on price.
Parity has become the primary
goal Ci farm leaders-an idea for
which they will fight to the last
ditch. 1t is an idea worth fighting
for, but it requires extension to in
clude the wages Of labor and the
profits of industry, if it is to effec-
lively protect national purchasing
power.
If the parity idea is thus extended,
the question will be raised: What
constitutes fair shares of national in
come for the farmer, for labor and
for capital? To decide upon a
division of national income implies
organized bargaining between these
groups. This cannot be done in
formally, because there would be no
machinery to put informal decisions
into operation, and no umpire.
Yet, if we are to have a smoothly
operating economy these groups
cannot wage destructive economic
warfare among themselves.