Toledo union journal. [volume] (Toledo, Ohio) 1942-current, 1946-12-06
BonkerS Agree

For many months, labor leaders and
economists have been warning the nation
that unless the disparity between prices
and wages was reduced that economic
Stagnation and depression would result.
Prior to election, both major political
narties indicated that they were both de-
pression conscious.
Comes now a number of outstanding
and reputable bankers who have stated
that the country is in for a depression, a
minor slump, but that it will be shOrtlived
and will be followed by period of great
productivity and prosperity.
Now do you believe that the labor
leaders were right?
Even little child in the second grade
in school knows that you can't take three
from two and end up with plus quantity.
The fact that some of our bankers now adj
NIT that we are due for a business slump
is sufficient evidence that they are not un-
aware that when prices and profits are as
far apart as they are today that eventually
a bust must come.
And why, ask labor leaders, must we
again go through another depression? Why
must the American workers take ii on the
chin again when profits are higher than
ever before and when the ability of the
workers to produce has reached new
highs?
So might everyone ask why ii is that
despite the great productivity of our farms,
mines and industry and the great desire on
the part of the ma jOrity of the people to
purchase necessities and desirable COM
modities must we again lie ourselves open
to serious economic dislocations.
J And as always, the only possible an
Awer is the greed of few men for un-
slsaited profits and the desire TO control
the lives of the rest of us.
We hear lot about the danger of Com
munism and Fascism, yet, we are even
now preparing the way, planting the seeds
from which can come a bumper crop of
communists.
Communism breeds on unemployment
and want. 1t grows and thrives only when
our system and those who control il reject
economic sanity. 1t lives on misery and
suffering brought about by system whose
inherent contradictions are constantly
tending to self-destructiOn.
Today, not merely because the bankers
confirm something which the average
labor leader has known for long time, we
are facing the certainty of another depres-
sion and not merely minor one We shall
ultimately reach the great depression and
more rapidly than lot of us seem to
realize, because even a minor recession
will still fail to awaken the blinded and
greedy profiteers to the fact that they
themselves are the greatest enemies of
their own system.
Because of the political and economic
conditions which exist today, we can take
the bankers word for it--there will be
another depression and nobody except
labor seems to know what to do about il.
Strikes and labor unrest are the GER
tain symptoms of sick economy, evidence,
of deep underlying disease in which we
are constantly treating the symptoms
rather than the real cause. Relieving
symptoms has never cured anything and
it won't this time, even il those who have
the power to do so showed the slightest
inclination to recognize the symptoms for
what they are.
On the evidence of bankers we are due
for serious siege of depression, but so
lar nobody but labor has sought to meet
the challenge. Our political, industrial and
2 business leaders stand supinely by while
the nation awaits the inevitable.