Evening star., 1951-09-04
Briqht Future-With Big IFS

With the Districts per capita figure of 1886
topping that of all the States, Americans in
1850 received $217 billion in individual income.
Representing gain of per cent over 1949's
earnings-a gain exceeding higher living costs,
but cut down some by heavier taxes-the total
sum averages out at 81 436 for every man, woman
and child in the Nation. AS the Commerce De-
partment has declared, what all this means is
that we have established new record in our
economy 1t is record, moreover, that will be
Short-lived
In fact now that the rate of our production
of goods and services is running at new record
breaking level of over 1925 billion annually the
1850 figure on individual earnings is already IN
the process Of being far outstripped. BY this
time next year our total personal income will
be many billions above last year's-perhaps
somewhere in the neighborhood of $3.50 billion,
as against the 1929 predepresSion high OF 1851
billion the 1888 depression low OF $466 billion, and
the 1945 wartime peak of $1719 billion. With the
single exception of 1949, this particular measure
of the Nations economic well-being has been
showing a substantial yearly Jump throughout
the past decade. Further, although ups and
downs probably are inevitable, it is expected to
show the same thing through the remainder OF
the century until it reaches total of more than
q trillion dollars in 1000 AID.
AS Commerce Secretary Sawyer pointed out
in speech late in 1949 this prospect is based
on the fact that our national income, despite
intermittent depreSsonS and declines, has shown
an average annual increase OF about per cent
ever since 1900 and that a comparable increase
is a reasonable expectation for the decades
ahead. If so if the next so years continue the
trend of the last so in that respect, then it is
mathematical certainty that our young childrens
earnings by the end of the century will be at
least uuadruple what we ourselves are earning
today Mr. Sawyer is not alone in regarding all
this as fairly probable. Level-headed private
research organizations share his view. The
Brookings Institution for example, has authored
q careful study showing that our economy can
be developed, between now and 2050 AID. to
support a population of 800 million Americans
"on plane of living some eight times as high
as that now prevailing"
But the unfolding of this bright future is
conditioned on a number of big Ifs" and as
sumptions. The true value of trillion dollar
income so years from now, or a two-trillion-
dollar income a century from now, will depend
on how things are run in the United States and
throughout the world in the meantime. Thus,
as set forth in the BrookingS study, the roSeate
progress envisioned requires the following fac
tors, among others: ID The wise use and
husbandry of our natural resources; (2) con-
tinuing increase in labor's productivity; (3)
steady Vigor in our free-enterpriSe system; and
(4) fiscal stability of sort that will keep deficits
and other infationary pressureS from making
money in 1000 AID. much less valuable than
todays money which for most goods and serv-
ices, of course, does not have nearly the pur-
chasing power that money had In 1900.
Howeves, If all the conditions involE d are