Milford chronicle., 1957-07-26
INDUSTRY MUST FIND MORE USES
FOR FARM PRODUCE

Even so, it is believed that the productive
capacity of American agriculture will out
run food consumption for many years to
cOme-Which means that we will continue
to have a surplus problem unless new and
different kinds of markets are found and
developed. That is why much attention is
now being given to the possibilities of in
creased use Of agricultural products by in
duStTy.
The 84th Congress established biparti-
san commission to examine the matter In
carrying out its assignment, the commits
sion obtained the assistance of 186 of the
countrys outstanding leaders in agriculture,
industry and science. Its report has now
been made-and it is an exceedingly inter
eSting one.
The question the commission dealt with
is this "Can the economy develop profit
able industrial markets capable of absorbing
enough of the excess farm production to min
imize, possibly even to eliminate, the need
for costly restrictions, supports, and sur
plus-disposing operations? The commits
sion found that "the answer is an emphatic
Yes, providing the necessary steps are taken
to make possible and encourage such a de-
velOpment."
There are four main needs. The first is
sufficiently sharp sense-nOw lacking-of
the Importance, the possibilities, and the
urgency of the industrial utilization ap
pTOach to farm surplus problems. The sec
Ond is a greatly expanded program of both
fundamental and applied research-a pro-
gram which would not be confined to the
laboratory but, in promising instances,
would 90 through the development stages of
pilot-plant experiment and trial commercial
zatiOn. The third is to ensure, through fell
lowshipS, scholarships, grants and other
means that much more scientific talent is
trained for and channeled into this neglect
ed field. The fourth is to provide, when nee
eSSary, suitable financial incentives, during
a temporary trial or development period. The
initial step, the commission states, is sound
legislative action by Congress.
The commission emphasizes that, by COM
parisOn with industry, agricultural research
is in the doldrums. Industry is currently in
vesting at least So billion year-three per
cent of gross SaleS-in research, and the re-
suit is a constant flood of new and improved
products. Agriculture spends not more than
S375 million a year on reSearch-abOut one
per cent of gross saes-and most of this
goes to improve and increase production,
rather than for utilization research. COnSe-
quently, the commission says agriculture
has been researched out of good part of its
natural markets" through the increasing use
of detergents, synthetic fabrics, leather sub
stitutes and so on.
The commission proposes that a five
member nOn-partisan Agricultural Research
and Industrial Board be created by Con-
gress, or alternatively, that responsibility
for the program be placed iii the Depart
ment of Agriculture, under director with
Assistant Secretary rank. And it makes an
other important suggeStiOn-that the pro-
gram be undertaken in way that will 9.
add as little as possible to the structure of
government
QUIET REVOLUTION
"A quiet, economic revolution" has been
taking place in the United States. And this
revolution "is the growth of new kind of
capitalism Peoples Capitalism"
These remarks were recently made to the
graduating class of the University of Mary
land by President Keith Funston of the New
York Stock Exchange. In this peoples
Capitalism, men and women from every
walk of life have begun to invest directly IN
the ownership of our great businesses. To
day more than 8,500,000 people own shares
in corporations. TwO-thirds of them have
incomes Of less than $500 year-which is
the perfect refutatiOn of the old canard that
stock ownership is the exclusive province OF
the rich.
Then Mr.. Funston went OH to point out
that the significance of this is twO-fOld:
First, by encouraging greater shareoWner-
Smp-Dy giving people everywhere CIlt
chance to participate more directly in the
risks and rewards of our economy-we arc
proving the preposterousness of the Marx
ist theory that the rich will get richel
while the poor become poorer !. (second)
1t is increasingly clear that the economic
freedom running through our lives has
strong relationship to the other freedoms
we enjoy"
Actually, without economic freedom al
the other freedoms would be doomed. They
are all part of the same philosophy of life
and they will live or die together. That's
why the communists are always denouncin(
this peoples Capitalism of ours. If il
ever falls, the road to world communism vii
be straight and wide and easy.
<&~@@&S%
AN ESSENTIAL REFORM
Americans are paying high taxes to Un
Gle Sam-the top rate is a near-confscatOry
91@c. This, to put it mildly, is detrimental
- CiT1o nor