Madison County Democrat. (London, Ohio) 19??-1958, 1953-09-25
Are We Afraid Of Peace2

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have brought siege of bacenee gossip about what may
happen TO the American economy when longer
qured TO channel large share of national wealth into
There have been mu++erings about unemP oYmen vanishing
paychecks and dedup markets. the government stops
pouring dollars into busy defense plants and expanding
military forces.
We have spent almost seven of the past years in
eeonomY-ons enough for people TO forget what
is like while others have knowing nothing else
but emergency"
think its time told the earmonsers TO stop their
It's time for US TO review the economies of the Amer
enterprise systemic frehen conviction that peace
provides the only climate which will permit people TO enjoy the
fruits of full production
Stopping the killing Korea halt the present
+on defense The cost Of Korea year has been
estimated at about five billion dollars while total outlay
for defense preparations and mutual security in the federal
budget for the fiscal 1853 than nine times that
amount We have not been making bombs and bullets for Korea
aone have been preparing to defend ourselves any
where the Reds may commit aggression
cOneedng that national defense buduP may have TO
continue for several years and that Korean truce will at best
only about oPereen+ reduction in defense spend
requirements for the next year twor face psyche
people and plants to Peacetme work The stock market prob
ably will ut+er and the will raise their usual shout that
recession he way. But will continue military
Program-stoekPing planes and ammunition rather than
using them against the North Koreans and Chinese.
There practically indications that the Communists
intend change their strategy of economic and political
the Western World We that what they
accomplish by and political they may
tempt +hrO ugh use of military power.
Yet have before economic goal precious
than any +he Reds may hope to achieve.
The goal is simply return TO peace, when people may
produce goods they
Admittedly. is waste
With just fraction of the dollars pay for
Posves and weapons could create the finest highway sY
TENS. hospitals schools and other civic facilities known
In fact accustomed to enormous taxes for de-
fense that it would be almost painless pay bill high
five billion dollars year tequa TO year in Korea for
roads and other improvements With the defense burden
moved states counties and municipalities whose tax
drained by huge federal rates could make real progress
in those areas.
Government expenditures must be reduced substantially
Income taxes corporations and the managers of business
have become high that incentive has practically been de-
sroyed Further there is little incentive left to take risks and
start businesses because of these high +aaes decrease
expenditures for defense purposes should i'm
medafey be accompanied by reduction these high Federal
tax rates This will increase incentive and give the back
to the people to spend for goods and services rather than
being wasted by government goods.
There may be periods of slack business compared with
the tremendous business activity of the poKorean period But
the simple and obvious fact is that business and nation
can always be in boom period This does not that be-
do not have boom must have depression.
Aside from stopping the total waste OF when look
ahead to return to reason for optimism lies in
Americas continued growth of population and growth in
duefivify.
good indicator of the notions economic health is the
rate of capital expenditure for improved facilities.
AS nation. should endorse and continue high rate
of capital expenditure for industrial Improvements Businesses
must readily abandon the obsolete they wish to keep abreast
of competonto say nothing of increasing their productivity
In the past five years Ford Motor Company has invested
than 9oomion dollars in and improved plants and
facilities We have plans TO spend additional 5oomiion
dollars for buildings and tools which will produce better and
trucks at lower cost and which will provide better Jobs for the
people employed in them. Every other aggressive
in America has similar forward plan
Our return TO peacefme economy will be postponed
long the people bossns Russia willing TO any
at their commend TO force the Western World into economic
and political subserence believe that the
of their ystemwhch relies the submachne gun for
IFS final deesions-~il surely cause its failure.
Let's not utter fears of losing the cruch of government
spending. Let's get ready make the things really
cheaper, better and quicker