The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1949-06-30
Comment On
World Events

Despite drop'in manufacturing
employment, the economic situa'
tion in the United States of Amer
lea is good" Michael j. Calvin, Un-
dersecretary of Labor told the In
ternational Labor Conference al
Geneva. His talk constituted an eff
fective reply to the Kremlin's con-
stant harping on the alleged pros
pect Of early economic collapse in
the United States and undoubtedly
he had the Reds predictions OF
doom in mind as he spoke.
The same optimistic report has
just been made by the American
Federation of Labor which says
that our economy is healthy and
vigorous and the outlook is bright
The AFL points out that readjust-
ment after any war is difficult but
says that readjustments have been
going on for 8 years and that basic
economic strength has been amply
proved.
Citing strong sustaining forces
in the American economy, the AL
holds that serious business reces-
sion "is almost impossible" and
adds: "This is no time to interfere
with normal economic adjustments
which seem to be quickly finding
their way to stabilization at lower
price levels. These adjustments
should be permitted to continue un-
fil new economic balance is reach
ed. This would open the way for a
long period of postwar prosperity
and rising standards of living"
+ j. 4
A 3-plank platform for the use
of American capital and technical
skills to help in the economic de-
velopment of Turkey-a country
that is now our strategic ally as
we'll as a candidate for aid under
the Presidents "Point Four" pro-
gram-is set forth in a new report,
Turkey: An Economic Appraisal,
just published by the Twentieth
Century Fund.
Max Weston Thornburg, Ameri-
can engineer and business consult
ant, prepared the report with the
assistance of Graham Spry and
George Soule.
AS their first point, the Authors
stress the need to provide great
er measure of both economic and
political freedom for the 20 million
people of Turkey. The report calls
for greater scope for private en-
terprise in business system now
dominated by government and
says: Government funds should
not be used in commercial under
takings for which private capital
IS available with equal or better
effect; and private enterprise must
be conducted with proper regard to
the public interest"
r AS second point, the report
urges that Turkey be encouraged
and helped, with American skills
and experience, to make productive
use of her own capital resources.
This is better than having outside
capital come in and start produc-
ng things that Turkey needs but
IS now producing inefficiently orr
not at all. AS third point, the re-
port. says that Turkey must give
business some regularized stand
ng under the law and protect it
rom the arbitrary. decisions of in
lividual officials.
The Twentieth Century Funds
report was prepared after re-
search team" headed by Thorn
,urg, visited Turkey to investigate
,ow American investments and
skills could best help the
Turkish people to improve their
,wn economic well-being. The sur
yey was planned before the first
of American aid to Tur-
ley and Greece were announced
md the report was written before
he President called for the Point
Four" plan of aid to underdevelop-
ID countries. Both programs, how
,ver, now lend special timeliness to !
he funds findings.