Tabor City tribune. (Tabor City, N.C.) 1946-1991, 1952-08-20
DIR S0CIALISTIC ECONOMY
By George Peck


IF Won have anv tiny lingering doubt that the United
States of America running not walking toward social
stic economy would like to pass few stastcs Wnlc
were gathered together by the First Natonal BANK ol
Boston.
In 1913 the ratio of federal expenditures to national
income was only per cent while currently is around
81 per cent If this ratio continues to increase at the same
rate the last forty years. within 1e" oecaoes
expenditures would swallow up the entire economy
Il is estimated that 81 million persons now receive
checks from Federal state and local governments Ihs
list includes government workers; recipients OF pubic
assistance Social Security programs and unemployment IN
surance pensioners veterans farmers under
agricultural benefits and subsidy programs' ana the
Armed Forces. ~
Federal state and local sponsor about 300
welfare plans expenditures for which aggregate around
S23 billion annually and account for more than one thrd
of all government tax dollars.
While the Federal Government is aggressivey carrying
on campaign comprehensive and liberal social secur
ity has been undermining the foundation OF the program
by dutng the purchasing power of the dollar through
fc financing during of the past Fl years BY following
unsound fiscal policies the government is making 1t IN
creasngy difficult the American people to provide for
their own security and this in turn compes them to turn
to the government for aid.
Through subsidies, handouts, and ceaseess propa-
ganda the Administration is curryng favor for planned
society under which the Federal Government would be
supreme As stated the outset of this article the UmteG
States of America running not walking toward social
istic economyaready has travelled far down the road
to that goal.
Not only our economy honeycombed with government
regulations red tape but also the owns or
controls large sections of enterprise system
In the case of the electric power industry we have not
been running we have been sprinting, to socialism.
the Federal Government was producing
only one half per cent of all the electricity generated IN
the United States By 1851 the proportion had increased
to per and state and local government producon
included the proportion increases to almost ~ per cent
Private utilities being squeezed out by grossly unfair
competition from tax free government projects, while
state and local suffer substantial loss IN
tax revenue
The Federal Government is the nations largest laho
holder owning about onefourth of the total land in
the country comprising I'll 900 square miles "ouo oe
TO the best interests of the country most of this land were
sold to private individuals who would convert IL 10 pro-
ductve use and provide government revenue
Tho Federal Government is now the worlds largest
banker Wholly owned government enterprises now nave
total lending authority estimated at than S66 bill
on-ths exceeds by billion the total loans outstanding
of all commercial banks.
The Federal Government has also gone into the lnsuf
ance business on grand SCALE 1t estimated that the
amount of life force sponsored by the
Government will approximate 1926 billion by the end OF
1852 as compared with total of $500 billion Tor all pr-
vate insurance firms "
This dangerous trend of government encroachment INTO
private enterprise must be stopped We can slow down
tho next November 4h by eecng candidates to
the White House. the and the House who not only
arc nedoed TO halt this march socialism but also prom
leo n do their utmost to speed the return to private enter
nrise of manv of the things which Federal Government
has usurped.