The Durant news. (Durant, Miss.) 1882-1985, 1945-01-04
0lds Has Faith
In Americans
BY George Peek

BY George Feck
All of us who have paused to Civ,
thought to the problems which this ma
tion will face after tie task of defeat
ing Germany and japan Is completed
have done considerable worrying about
employment in the postwar era. 1t IL
good to know that the top executives
II industry, who also are concerned a.
bout jobs after the war is ended, while
not Understanding the difficulties that
lie ahead, look to the future without
fear. llkI
As case in point, Irviny s. Odds,
Chairman of the Board of Directors of
the United States Steel Corporation, in
q recent speech, sounded this note Of
confidence: 81 should like to record my
American people. Their patriotism,
courage, energy and resourcefulness--
20 outstandingly evident in meeting the
problems Of war--may be relied upon
in the solution Of any difficulties of the
future. II is important, however, that
the public should see the likely prob
lens of the postwar period in true per-
spective."
Among a number Of favorable fac
tors, Mr.. Odds finds that our wartime
needs have served to stimulate inven-
ton and progress, and that we will
come to the end of the war with a
greater number Of skilled workers than
America has ever before possessed, and
that we can look forward with assur-
ance to an adequate supply of most Of
the raw materials out of which to build
. long enduring industrial organization.
Discussing the creation of new jobs,
the Steel Company Executive made the
following timely comment:
"To my way of thinking, a new job
q created when an individual, who has
saved money or established for himself
= credit reputation, decides to engage
In some business activity. He under
takes this risk Of his savings, because
As has hopes Of securing customers for
mis- product and Of satisfying those Gus
toners to the extent that they will pay
. price for tho product adequate to
cover his costs and leave him fair
profit. l use the word PROFIT de-
libertely. 1T is NOT A WORD TO BE
ASHAMED OF, despite the effort by
1ew to dscredit those Of US who believe
in q profit motive as the mainspring OF
cur American Business System.
"Take, for example, the man who risks
his capital in the building Of a corner
drug store, or a crossroads repair shop.
At tho outset, there are Jobs for those
who dig the foundations and erect the
building. After the drug store or shop
il built and equipped, one or more
clerks or machinists may be employed
70 operate it. New employment comes
into being.
"More and better goods are produc-
cd, and more and better jobs are Gre
ated only because some person, either
singly or with others, hopes or believes
that ne can locate sufficient numbeH
of customers and can sell to them his
products or his services at price which
will leave him a PROFIT AFTER ALL
COSTS HAVE BEEN MET. He is willing
TO FISK MS savings anu w uS'o'S "'S
energy to that end /. The creation OF
new Jobs is as simple as that, in my
opinion.
Mr.. 0lds stated that our tax laws
must be such as not to impair the pros
pect of a reasonable profit for risking
ones savings and devoting ones energy
toward new production. Regarding la
Dor. he said: Industry must recognize
that business cannot be conducted with
out employees and that workers are en-
titled to full and fair compensation for
their labor. Employees must realize that
industry cannot long continue as an
employer unless the owners Of business
receive a fair return on their invest
ment." et
In closing his address, Mr.. Olds re-
iterated his faith in the vision and
common sense Of the American people
Vie said: "They will permit a course te
b. steered 80 as to insure the preserva'
ton of individual liberty and the spiri'
of initiative. Ii my faith be well found
cd. then THE PROSPECT SEEMs
BRIGHT FOR FUTURE PROSPERITY