Milford chronicle., 1953-12-18
TWO WORTHWHILE COMMISSIONS

AS a general rule, the establishment of
new governmental commissions means bad
news for the taxpayer. The situation is quite
the opposite in the case of two commissions
which are now getting down to work
One is the Commission on Organization of
the Executive Branch of the Government
under the craftsmanship of Herbert Hoover
A series of task forces have been established,
each of which is headed by an outstanding
business man or professional man, assisted
by recognized experts in particular fields.
The Commissions area of study will be very
wide including such problems as water and
power resources; civil service; lending agen-
cIes; surplus property; medical services;
federal subsistence services, and so on.
The task forces will full evaluate all
available facts in their respective fields, and
submit recommendations as to improvements
in efficiency and economy, elimination of
overlap, and reductions in spending.
The other new commission has not, at
least yet, received as much notice as Mr..
HOOver's. However, it too will deal with
problems of the first importance. 1t is called
The Commission on IntergOVernmental Re-
latiOns, and Clarence E. ManiOn, former
Dean of the University of NOtre Dame Law
School is the chairman. Other members are
governors, and representatives of the public
and of the executive and legislative branches
of the federal government. The purpose is to
study ways and means to check and reverse
the trend toward more and more federal pa
ternalism, and to provide workable plans for
returning to the states all or part of certain
responsibilities which are now being dis
charged in Washington.
That this will be a tough job goes with
out saying. Probably few people are aware
of how enormous the growth of federal aid
programs has been in the last 80 years or so.
According to the Chamber of Commerce of
the United States, in 1920 the entire cost of
federal aid was a mere $4,000, 900, and most
of that went for highways, agricultural edu-
cation and research, and the National Guard.
BY 1896, the figure had reached S346 000, 900,
not including emergency grants resulting
from the depression, and twO-thirds of this
was for highways. Last year, the figure was
we'll in excess of $2,000,000, 900, and high
ways accounted for less than a fifth of it.
The largest item, 81, AGO. 600, 900, was appro-
priated for the program administered by the
Federal Security Agency, which is now
known as the Department of Health, Educa-
tiOn and Welfare
This aid program now covers about 40
ategOries-veterans, old age assistance, edu-
cation, control of certain diseases, etc. The
Chamber indicated one major problem when
1t said, If any SiZeable portion of these
activities is to be made the complete respon-
Slblllty OF the states and their political sub
divisions, some plan must be devised for the
transfer to the states of various sources of
tax revenue now pre-empted by or shared
with the federal government"
In any event. two commissions are now
at work to reduce, rather than increase. the
cost OF government-and to make the fed
eral establishment smaller, not bigger.
A SHARE IN OUR BUSINESS SYSTEM
In one vital respect, the securities market
today is a very different sort of institution
than it used to be. This great change lies
IN the aggressive efforts that are being made
to acquaint the public at large with how the
securities business works and why it exists
and to explain how men and women OF
modest means can invest part of their saw
lngs in securities if they so desire, even
though these transactions involve small
sums of money.
An excellent example is found in new
profusely illustrated 5O-page book, entitled
Understanding The New York Stock Ex
change" 1t was published to meet wide
spread public demand for more accurate in
formation about the nations largest organ
lZed securities market and copies are being
distributed to high school, college and uni
VerSlty libraries; to companies with securi
ties listed on the exchange; to bank officials
to educators, and to the press. 1t is writer
in clear, down-tO-earth style, and it answers
hundreds of questions that commonly arise
in the minds of potential investors, ranging
from Why is there a stock exchange?" Il
Why do share prices changer"
In the books forword, it is pointed OIL
that the exchanges job is "to make owninf
share of our business system readily avail
able to millions Of people" The more peo
pie who own such shares, the safer our fire,
economic system will be from the attacks O.
those who would destroy it, and replace i
with social and economic dictatorship.