The people's voice., 1957-07-19

Alvin Fletcher of Bolton Finance
said Billings should be able to main
tain stable economy because of its
diversified agricultural and industrial
expansion. He said the downward
trend started five years ago with the
change of political control of the
nation.
Since the election in November of
1856 about 400 families were moved
out of Billings by the oil industry.
When these families were moved into
the area they created an inflationary
trend and one bubble of the Billings
boom burst with their demise. Few
people, however, attribute the eco
nomic stress to this fact alone, albeit
it has made a readjustment to
slackening economy difficult.
Discussing the economy of the area
with a group of housewives l found
they have been impressed with the
number of "sales" in downtown Bill
lings. 'It is not unusual" said one,
''to find the stores having July Sales,
but it is unusual to find so many
really worthwhile things on SALE" Il
just wish,'' she added, that l had the
to take advantage of some of
them.''
The Billings Builders Exchange for
June, 1857, lists 18 building projects
with plans on file in Montana. Sig
perhaps, is that IA of them
are public or semi-public contracts.
The Billings Chamber of Commerce
entities its weekly (July IS, 1851 |
report to its members "The Boom
The Billings C of C |
report says that the U. S. does not |
need the kind of unreasoning eco
nomic doom" that has "clouded the |
picture and confused the |
J. S. public over the last few months"
They quote economists and busi-
ness executives who say the slow
lown is minor and industry still ex-
oected a good year. For instance:
Says Cleveland Trust Company
Economist David C. Elliot: You read
lbout 200 layoffs here, 500 there. a
midtown elsewhere. They're. con-
ined to a few spots like autos or
ppliances, and add up to an infinitesi-
nal fraction of total unemployment.
But to the uninformed, they indicate
hat the economy has turned sour"
The report continues to say that
businessmen will make nearly twice
S much money in 1857 as they did
en- years ago.
Chamber of Commerce reasoning
|; that the U. S. has not adjusted its :
conomic thinking to "new kind of :
economy that can rise, pause or slip :
IF bit, then rise again"
Students of the last great depres- ,
on remind us it was the beginning J
f the end 80 years ago when an !.
fraction" of the total
was laid off in Detroit .
| few spots like the automobile
ldustry.
The Chamber of Commerce philoso- Il
ny centers exclusively around prof t.
S. The philosophy of the Labor Un- n
n representatives arises out of con- a
ern for the man who wants bread
I'D butter for his family.
The Chamber of Commerce treats
200 layoffs here, 500 there, shut
own elsewhere" lightly, in terms D
immediate profits, and in truth W
y they add up to an "infinitesimal a
action" of total employment. W
The "infinitesimal fraction" may ir
1T make the entire economy sour, "
1T certainly the mold is beginning f,
form. To the man who is not able /.
pay his bills because of a layoff fl
shutdown, and is not able to find
nployment elsewhere, the economy ii
certainly not sweet. 4t
The U. S. may not need unreason- fl
g economic doom-but the u. S. th
mot afford to view the economic
atus only from the ivory tower of m
e Chamber of Commerce, some of w
lose members are still kept busy in re
cir counting houses. to
What the U. S. needs is dynamic le