Milford chronicle., 1959-07-31

THE BUSINESS BOOM
The economic experts now say that the
present business boom will last throughout
the next year. That is, it will continue for
the second half of 1859 and continue through
1860 and into 1861.
This is an extension of the business boom
forecast generally accepted by economists
only few months ago. Thus, as FAR as po-
litical considerations are concerned, the Re
publicans can look forward to having an cleo
tion in prosperous year.
1t will be recalled that the recession in
1858 was certainly partly responsible for sig
nificant Democratic gains in congressional
elections. If times are good, if unemploy-
ment is down and business excellent, in 1860,
it will enhance the chances of the party in
power, and that party is the Republican
party
1t is a known fact that the party in power
can always argue that the people never had
it so good, and warn them not to take chance
with change when things are going so well.
This is an incontrovertible political truth,
and will be an advantage to the Republican
candidate, whether he be Vice President Rich
ard Nixon or someone else.
Thus the business boom, apart from being
good news for Americans, is also of great
political significance. 1t means that the Demo-
Gratis may not enjoy the advantage which
they have been conceded by many political
writer's. 1t may mean that the Democrats
will have to be at maximum strength, and
united, if they are going to capture the presi-
dency in 1860, if indeed they can do it under
these circumstances.
In other words, the business boom which
is still developing puts the Republican party
back on an equal footing, and enhances the
chances of the Republican candidate for pres
ident in 1860, and makes it almost mandatory,
meanwhile, that the Democratic party unite
and present solid front if it is not to jeopar-
die it's apparently decreasing chances for
victory in 1860.
STATE OF THE UNION
Following is a kind of report on the state
of the union which some politicians and
wasters of public money would prefer the
people didn't see. 1t is a report made by
Edwin Vennard, managing director of the
Edison Electric Institute to the Rotary Club
of New York City and to all fellow citizens
interested in preservation of freedom under
self-government:
Federal government nOn-defense spend
ing per family has increased from $50 in
1880, to $548 in 1859, more than 500%.
Federal non-defense spending has in
creased from $2.6 billion in 1880, to $28.1
billion in 1859, or about 10000.
Exclusive of the armed services, the Fed
efaI government now employs Hl HllIIlUIl
people as compared to $4,000 in 1880, an
increase of over 200%.
In May, 1859, Senator Harry F. Byrd
said: Nearly 40 million Americans will re-
ceive direct payments from the Federal
Treasury this year."
In December, 1854, Rowland r. Hughes,
then Director of the Bureau of the Budget,
said: "(The Federal government) is, among
other things, the largest electric power pro-
ducer in the country, the largest insurer, the
largest lender and the largest borrower, the
largest landlord and the largest tenant, the
largest holder of grazing land and the largest
holder of timberland, the largest owner of
grain, the largest warehouse operator, the
largest ship owner, and the largest truck
fleet operator. For country which is the cit
adel and the worlds principal exponent of
private enterprise and individual initiative,
this is rather an amazing list
All taxes in 1880 took 1870 of the national
product, as compared to 29% in 1858
The National debt has grown from $40
per family in 1880, to $500 per family in
1859, an increase of more than 9O0%. And
in this year of great prosperity we are not
requiring that our government live within
its income from Federal taxes. We are about
to go further into debt, meaning we will
borrow from. future generations and may
devalue the dollar in order to get more gov
ernment handouts today.
If these trends continue, what will our
children face 80 years from now? Isn't it
about time that we take a serious look at this
situation and do something about it? And
by we, we mean you and all of us-not some
one else,