Evening star., 1951-12-28

for the long-term in America
That way is to place the American
dollar on modern gold standard
That is what I would intend to dt
as President with the support O.
Congress.
Waste Must Be Cut.
To do so will require firm finan'
cial policies in Washington. VAST
in government must be cut out
The 100000 loafers now included
among the Federal employees mus
be dropped from the payrolls. Pro
duction must be kept at very higf
levels and full employment mus
be maintained, with jobs for all
The budget must be balanced, bu
without taxing incomes so heavily
that incentives are lost. Thi.
means that lower-bracket income
and wages should not be taxee
more than 10 per cent and higher
bracket incomes never more thar
SO per cent: and if additional take
lare needed to balance the budget
tthese are to be raised by othel
means which are less repressive O.
incentive and production. ..
Profit-Sharing Proposed.
AS President would CONSTANT.
endeavor to have all citizens rec
ognize that their own best future
even from their own selfish stand.
points. rests in the welfare anc
success of the Nation as a whole
and that it therefore rests II
cooperation and in respect fol
one another without regard tc
religion or race or riches.
Let me be specific.
The greatest threat to tht
long-term welfare of our un-
rivaled economic system is founc
in the bitterness and the antag.
onism between labor and capital
I believe in the American eco.
nomic system and I feel that Z
this clash continues it will II
time bring down on us nationali.
zation and specialization and rigit
controls, just as it has in Eng.
land. This would mean the enc
of the American system, and il
would be a tragedy for labor a.
well as for capital.
The major key to the operation
of the American economic system
| is the profit and loss factor. Fo
that is the regulator and adjuste
of the competitive free system.
In my judgment our American
economic system of peoples capi
talism will best be served by tn
development throughout Ameri
can business or voluntary profit
sharing plans by corporation
with their employees.
Therefore, as President, I woult
actively encourage the develop
ment Of voluntary profit-sharinl
plans with employees Throughout
the country.
The principal method of doinf
this would be through givinl
more favorable treatment in th'
tax laws to business corporation
that shared its profits with it
employees, including it's skillet
and unskilled. managerial, pro
Ifessional and clerical personnel.
In other words, less tax-payinl
to the Federal Government ant
more profit-sharing with EN-
ployees would be our objective TO
American business.
1t would also be the policy Of
my administration to see to il
that each major economic grour
received a good and just share Of
la high overall national income
Important to the Farmer.
This policy is especially i'm.
portant to the farmers. In re.
turn for producing a bountifu
supply of good food, they shoulc
have an excellent income, received
without governmental control Of
their lands, or their crops, or theil
marketing. This would be my
Administrators policy and it car
be carried out without great
difficulty along with the program.
for a modern gold standard anc
full employment with profit.
sharing.
If the relations between group.
within America are improved anc
the currency is kept sound, rapic
progress can be made towarc
better housing, better health, anc
better schools. We can have full
employment, with conservation o.
natural resources, and withou1
socialization.
While working out these i'm.
porant domestic policies very
carefully, as President, 1 woulc
never lose sight of the fact thar
a consistent and successful foreign
policy is essential to the well.
being of our American people Al
home.
Foreign Policy Objectives.
1t is my view that the foreign
policy Of our country should have
these clearcut, outspoken OBJ.
jectives:
To help all peoples make prog
ress toward better living ant
become our friends;
To defeat communism without
a world war;
To turn all nations away from
Socialism toward economic free
dom;
To strengthen the United Ma.
tions and rewrite, the Charter.
The vast majority of men anc
women everywhere would well
come such a foreign, policy. We
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