Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1954-01-07
By j. Glenn Beall
U. s. Senator from Maryland

When the clock struck twelve
on New Years Eve we moved into
the year 1854 with the full knowl-
edge that most of the problems
which plagued US last year were
still with us-and, indeed, many
firmly feel that these problems will
become more complicated with the
passage of time.
Among the more or less mixed
blessings of the New Year is the
second session of the 83rd Congress
which is now converting in Wash
ington, and while many opinions
are greatly affected by partisan
leanings, all of US realize that this
session will be most important,
and perhaps decisive, in solving
our current problems.
Undoubtedly the root of our
troubles lies not here in the United
States but within the walls of the
Kremlin, and until the Communist
dictators of Moscow permit the
world to live in peaceful security
our everyday life will be compile
ated by the evils of Soviet agrees
sion.
In the last few weeks, however,
there has been considerable public
ity about a new situation which is
causing great concern among the
people, and which looks as if it
may be a major issue before the
Congress and the Eisenhower Ad-
ministration.
Public officials, newspaper
columnists, and others are now de-
voting thousands of words to dis
cussion of our national economy
and the charge is termed variously
as adjustment, rolling adjustment,
orthodox recession, an dthat most
fearful term depression.
Most of us recall with painful
memory the economic collapse of
the late twenties and such out
spoken comment rejecting down.
ward change in domestic affairs is
apt to be very unsettling to our
peace of mind.
The great danger in my opinion
is just that-our judgment is too
easily conditioned by fear and not
enuogh by a full understanding of
the true situation.
First, l think we should realize
that the expressions of fear origin
ated with New Dealing Democrats
who are up for reelection in 1854
and they are setting the stage for
what they hope will be successful
campaigns. Typical statements are
those of Paul Douglas, a true fol-
lower of the unorthodox economic
theories which brought this nation
so close to socialism, who faces a
tough campaign in his efforts to
be reelected Senator from Illinois.
These New Dealers are trying to
capitalize on a program of fear
in order to achieve a
political advantage in the coming
campaigns-they hope spreading
fear that this nation is headed for
economic collapse will persuade the
people to give them the
responsibility of government.
That then is the background for
the rash of headlines, speeches and
statements which is reflected in
your daily papers by black type
reading-Economists See Mild Re-
cession; $4,000 Laid Off Across
Economists Differ on Re-
cession Plans; British See Disaster
Lurking For Them In Any U. S.
Slump.
These Fear Mongers must be
pleased with the results, for many
Americans are now vitality afraid
that 1854 offers little for them, and
fearful for their economic security.
But what is the truth of the
matter? Do facts justify these
fears? The answer can easily be
found by looking at the state of
our national economy.
First let us take a look at the
situation. So the scare