The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1946-02-26

engage in enterprise in competition
with their own citizens. The only
way that government can possibly
obtain revenue is through partici.
patton in the earnings OF its citiE-
ems. II taxes those earnings sew.
eral times and takes increasingly
larger shares OF them, sometimes.
through taxes, becoming the senior
participant in the gains.
But earnings there must be. II
productivity stops, earnings stop,
taxes on earnings stop. And while
some businesses may be able
to make up for lost time,
others will not. The cost 70
the government then Is shift
ed to those who earn. whether
individuals or corporations. The
real loser is the whole American
people. And II matters little what
Chester Bowles says about "irre-
sponsibility"-a word he uses
without sense or discrimination
unless production. ii this country,
is achieved by private industry, IL
will not happen at all.
Chester Bowles and others like
him fuss about initiation and utilize
that frightening word to harry the
American people into prolongins
their tenure In public office. Actu-
ally, there is only one cure for the
threat OF initiation. II is produc-
ton. The huge savings OF the
American people, amounting to
close to 5.000,0 100000 OF which
about $4,000. 900, 900 is in cash
withheld from circulation, need to
get into production by the norman
process OF the purchase OF goods.
II is not initiation when needed
goods are purchased by those who
possess the funds. Initiation Is 20
be measured by the degree OF lack
OF confidence in the value OF the
American dollar.
The eternal law OF supply and
demand. policed gently by govern
ment, will more effectively control
prices in an active market than all
the tricks OF OPA and Chester
Bowles. Approximately 10000, 900
new cars and trucks, for instance,
will be purchased by the American
people as soon as they can get
them. Today. no manufacturer can
correctly estimate the selling price
OF new car because even though
he may know what his labor will
cost after the strike settlements,
he cannot be certain what the cost
OF raw fabricated materials will
be. But cars will be manufactured
and the market will find its pur-
chasing power as the market be-
comes fully active. The same is
true Of electronic devices, such as
radios, television. etc, electrical
supplies for the home, new hous-
ing. new kitchen sets. and all the
things that Americans like to buy,
including nylons and white, stand
ard brand. shirts.
or course. at first prices will
seem high, but when the market be-
gins TO fill with goods, prices will
have to meet competition and the
law OF supply and demand will OPP
crate. Mr.. Humans wage-price
formula Is really kind OF MIRA.
which is industry cartelized by gov
eminent with the object Of arrest.
ing the operations OF the law OF
supply and demand. This must re-
suit in the disappearance Of goods
from the market-a condition ex-
perienced by the American people
during the entire period OF OPA
operations.
Only production can save us.
that interferes with pro-
duction harms the entire country.
What is needed is not the "emerg-
ency" propaganda OF imitation, but
an end to strikes both Of labor and
capital and a reduction in govern
ment controls Of both prices and
wages. Give America its head.
Copyright, 1916. for Ypsilanti
Daily Press)