Milford chronicle., 1948-10-15


started lacked the
know how of busi-
PATTERSON ness. They did not
have that business
instinct or the executive ability to
achieve success. Another percent
age failed because of a lack of ade-
quate financing. Many started on
less than the proverbial shoestring.
They had no money reserve to see
them over the first bumps and they
were bound to encounter unantici-
pated bumps.
FEW OF THOSE WHO FAIL are
willing to admit that any shortcom.
ing on their part was responsible.
A popular reason for such failures
is that big business forced them to
the wall. 1t sounds plausible, and
we accept this alibi Of those who
have failed.
DESPITE THE PERCENTAGE
Of failures, the small business con-
Germs of the nation are growing and
are doing an ever-increasing vol
une of the nations business. Those
who have the know how and the
needed capital are steadily boosting
the total amount Of business done
by small business.
ACCORDING TO FIGURES
recently released by the depart.
ment Of commerce, the small
business people Of the United
States-thOse we know as small
business-received 1872 per cent
of the national income in 1929.
BY 1947 the little fellows in-
creased that percentage to 2O.2.
DESPITE THE MANY CHARGES
I that big business is crowding out
the small business man, the same
report by the department Of com.
merce shows that in 1929 the share
Of the national income going to big
business was PAT per cent, while in
1947 it dropped to 1873 per cent.
THERE ARE MANY OF US who
do not have the instinct, the know
how" needed to succeed in busi-
ness. Our best bet is to work for
those who have that instinct, that
''know how" Today in America
there are go million people holding
jobs they would not have if the
capable business executive did not
exist. Big business provides a very
large percentage Of those so mil
lion jobs.
IN 1929 THE WORKERS received
SOL per cent of the national income
as wages. In 1947 the workers re-
ceived 61.8 per cent Of a very much
larger national income and much Of
that increase came from big bust.
ness. It means the workers are
paid 61.8 cents out Of each dollar
of a national income that is close
to twice what the income was in
1929.
1T is NATURAL that we
should prefer to wear white col.
lars, business suits, and be the
bosses Of our own establish
ments. The greater number Of
us cannot do that successfully,
Those who cannot must have
food, shelter and clothing If they
are to live. Jobs, working for
someone other than ourselves,
: provide not only the essentials
? of life, but many Of its luxuries
, and pleasures. Big business
: provides the larger portion Of
: the jobs.
; AMBITION is CREDITABLE
Our American system encourages
. it and invites competition in al
lines. There is nothing to preven
any of us from embarking on tht
business sea and nothing, other thar
our own inability, or lack o
finances, to prevent our success il
whatever line we may venture. Blu
. for the great majority it is tina
: backlog Of go million jobs and th
61.8 per cent Of the national incom
paid to the holders Of those jobs
that makes America the promise
land for all the civilized world.
THE OLD ADAGE, "three genel
ations from shirt sleeves to shil
sleeves" still works. New rich pee
pie are continually bobbing uE
but the reckless spending Of thei
wayward sons and daughters
sinking many a wealthy famil!
One way or another the wealth {
the nation gets thrown back into tn
pot today to be scrambled for by
new group Of aspirants for wealt
tomorrow. All have the same Of
rortunity, but not all have the sam
''know how" Of making money.