Milford chronicle., 1947-05-09
THE ARGUMENT THAT industrial and

THE ARGUMENT THAT industrial and
business profits are now so great that prices
can be reduced and wages raised needs
great deal of clarificatlon. The TACT IS, as the
various indexes show, that the profit picture
varies tremendously from industry to indus
trv-some basic lines are earning extremely
moderate returns, and excessive prohtS exist
in but limited number of fields. Fufthef-
more. the whole weight of historical evidence
indicates that arbitrary wage increases are
invariably accompanied by general price IN
creases and that in the long run, no one
gains. Lastly, the argument rests on tns as,
sumption that present business volume VIII
continue indefinitely, which is hazardous
assumption indeed. There are very definite
signs now that consumer resistance, plus the
natural reluctance of retailers to buy goods
for which there may be no market, may force
reduced production of a long list OF goods.
If anyone believes that business does not
wish to reduce prices he should make brief
study of the present-day activities OF the
retail industry. The big chain systems and
metropolitan department stores are frankly
concerned over the price trend and are deter
mined to do something about it. lndepend-
ents and smaller stores are equally eager 70
place lower price tags on their wares. 10
this end, retail buyers are cOmblng the mar
money. The old-fashioned bargain sale is
again appearing Operating overhead is be-
ing shaved wherever possible, and the saw
ings passed on to the buyer. Retail leaders
are the first to point out that spiraling prices
are a peril to the American economy
Retailing, of course, works under fixed
limitations. If wholesale prices go up, re-
tail prices must follow. the trend No store
can operate without profit. But the fact
that retailing of all kinds, big and little,
realizes that the price problem is OF consld-
Grafton today, is one of the best signs on the
horizon. Full understanding of problem is
the primary step toward its solution.
NOW THAT THE WAR is over the open
season on big business has begun again. 1t
is natural that people should attack big bust
ness. Because it is big it attracts attention
Because it is successful it provokes envy
Because it is powerful, it engenderS fear
And vet no attacks on any institution were
ever less justified. Big business is big fol
just one reason: because it deserves to be.
In this day and age there's just one way
business can grow big: by giving the pub
lie what it wants at fair prices. When ;
business stops serving the public, it sool
ceases to be big and some small competlto
Even the people who rail most lOudl
against big business instinctively know this
We are acquainted with Senator who de
votes much of his time introducing bills t
tax chains out of existence. His wife doe
all her marketing at chain grocery.
Practically every big enterprise in Amer
lea was small and struggling at one time
The great manufacturing concern started a
machine shOp-run by man with energ
and ambition. The great retail chain bega
as a hole-in-the-wall store-owned by a ma
with little money but big ideas. They prt
duced and Sold what the people wanted-an
they gave the kind of service that attract
and keeps customers. That is the way an
the only way that business becomes big an
successful under the free enterprise system
PEOPLE CERTAINLY OUGHT to kno
all about Harry S. Truman as he served tt
State of Missouri as United States Senate
from 1884 until he became Vice President
1945-and then he became President of tt
United States
The Gallup poll showed that he had Il
approval and backing of the American publ
in July, 1945-the score registering 81 p
cent approval. A year later the recor
showed only 43 per cent approval, and in @
COOCI, IOtO, l1C vi IOPPSu W OG pei CClC, WI
So per cent of the registered voters in t
Gallup poll at that same time. Now he
going up again and the vote of approval
above 60 per cent.
The public seems to be jittery, and the v
tim of nervous waves There is somethi
wrong with majority of us human bein,
Otherwise the President of the United Stat
would not be measured in esteem; bobbing
and down in high at frequent intervals. Dc
he lack stamina? He does not. Is it becar
the people distrust him? No, he is persona
very popular, even when public judgme
dances it's jigs.
The President tackles unsolvable qu
tions. Whatever your politics are, you "
have to admit that the President offers
honest and best judgment