Laurel outlook., 1950-02-22
K|WAN|S TOLD NATION
FACES THREAT OF DEBT

gEV DllllOll w PEOO DilliOlt III IllE
past II years and is still soaring,
endangering the very existence of
the American form of government,
r. F. Cooke of Billings, an engi-
neer for the Montana Power COM
pany, told members of the Laurel
Kiwanis club Wednesday evening.
But though the danger is grave,
something "a still be done to save
democracy and liberty if the stock
holders in the business of govern
ment will vote to make corrections
next November. The address large
ly parallel one Cooke made sever
al weeks ago in>Laurel.
Saying that the soaring figure
Of debt is pilirg up in a time
Of unprecedented income for the
government, he added that farmers
and business men would pay some
thing OF their mortgages when
favored with similar-c
Instead, he observed, Washington
expects to have exceeded it's in
come by Sc billion at the end of
the fiscal year 1850. In four and
a quarter years the administration
has spent $11 billion more than
the other 80 presidents spent in
165 years. Quoted again were fig
ures appearing in the Readers
Digest of last December.
One of Cookies statements was
that eff all the people who own
life insurance were to cash their
policies, the proceeds would not
run the federal government one
year" Others: The sale of all
urban homes would finance it eight
months; the sale of all farms,
equipment and livestock would fl
nance it eve months; the working
capital of all industry would fl
nance it a year and a half. Lennin
ir laying down his formula for
world conquest by the communists
said: eve shall force the United
States to spend itself into destruc-
Twenty years ago all varieties of
government, emitting federal debt
service, cost the average family
less than 5000 annually; today, al
so emitting debt service, the cost
to the average family is about
81 300 a year. If congress passes
the socialized legislation proposed,
namely federal aid to education
and socialized medicine, the aver
age family will be paying a yearly
tax bill of about $1,000. Cooke
also said the average family paid
over 500 in hidden taxes last
year. If all personal income over
$4,000 per year we're ~confiscatcd {
Il would cover less than 10 per
,ent of actual and proposed spend {
.ngs.
The average working citizen t
work 81 days each year to {
BAY his present taxes; the s~ocialis-
ic spending would require another t
20 days work; combined, the 81 E
would be about a week out t
# every month after Sundays, holi- I
and vacations are deducted {
rom work time. eve are headed
Oward disastrous initiation, which t
n turn is a one-way road to social c
from which there is no re- c
a
Socialism, Cooke said, "is gov /
ownership or government S
management of the nations econ 6
my and the denial by the gov
.rnment of the right and capacity +
# individuals to manage them /
elves and their property. Social '
SIN is directly opposed to Ameri- n
an constitutional freedom and the t
nalienable right of the individual a
Who produces property to dispose c
f as he pleases. II
"a collectivist society could be a
as one in which the gov 8
rnment reaches into our pockets, /
objects whatever is there and in n
urn provides us with such food, S
aiment, shelter, education and en- t
ertainment as it thinks we should I
ave. And the appalling part j