The journal. (Caldwell, Ohio) 1934-1961, 1950-11-30
TAKING STOCK

With military forces already busly engaged in Ko-
lea and threatened with similar
invasons in other parts of the world if America
vve strong and sound economy must be maintained Rus
the economic strength of the United States
During World War II we the arsenal of democ-
racy Since then it has been to the United States that
world facing famine has turned for relief in avoid
disaster. The achievements of American industry both in
peace and tribute to the resourcefuness ingenu
lty, and knoW-hoW of business enterprise.
Only maintain the driving force of private nitia-
tive and rewards for personal achievement will America be
able to carry the staggering load that being and will be
imposed upon To build military force strong enough
cope with the evenuaes that lie ahead will be great
Let's therefore, take inventory of basic industries
Fortunately most of them in strong position;
ducton Productivity per American worker ranges from
thirty times that of foreign workers. due in large part
the extensive of machinery provided to Amer
lean workers by heavy outlay of capital funds
Steel is the key factor in industrial system To
meet the heavy demand the steel industry will have
panded its annual capacity to 07 million tons by the end of
1852 This compares with current capacity of 100 million
which 20 percent above 1940 The United States
produces than three much steel Russia and
accounts for nearly one-half of the worlds output
The total railroad mileage of American railroads is
225OOO miles, or four times Russia During
railroads hauled 70 percent of all freight 80 per-
of all military freight and 81 percent of the military
Since 944 the railroads have expended the huge
of $6 billion to hold down costs and improve service
Our electric power industry provides an abundant de
pendabe and continuous supply OF current at rates far be-
low those of 80 In 1948 the United States
world production and 5R times that of Russia Another
125 billion klowatts OF capacity under construction
completed by the end of 1852 The electric power
dustry prepared meet any demands that be made
upon provided necessary materials and manpower
kept available to it.
AS to telephone service there 48 million telephones
In the United States about wo-hirds of the telephones in
the world Russia only is million. The telephone sys
tenn is prepared fulfill all of the everyday requirements
as we'll as to meet any emergency. n
Oil which has been termed the lfeblood of modern
fare abundant supply for all purposes The United
States produces 8 billion barrels annually 81 percent of
total world output Russias annual production only 24O
million barrels and 30 percent of this comes from the Cas-
plan Sea, region that is vulnerable to our bomberS
Last but not least research laboratories are opera
ing on an unprecedented scale Business
spending annually $3.50 million research projects From
these scientific establishments powerful munitions
well materials processes and better methods
The basic industries of the country, together with the
TRANSFORMATION communication and research facilities in
excellent shape Our weakness the unsound financial
policy of our government Thru its wasteful and reckless
expenditures seriously mpairing the margin OF fl
nancal safety and undermining our national security While
pvaely-owned business is keeping powder dry our
playing into Stans hands, whose aim is to
see economic system that we Will not be able
To defend ourselves when the final showdown comes.
You have Just elected Congressman Write him
and insist that Congress follow the lead of industry and bus
mess bv adopting sound fiscal policies that with
tv and are upon Individual initiative and enter
prise those sterling attributes that made America great and
upon which our very survival depends.-GEORGE PECK