Evening star., 1960-01-03
State of Nation

Constantine Brown refers
to responsible figures In the
present administration
beginning to admit that we
are In a poor way econom-
ically." What does he mean
beginning? In an address
on October 81, 1854. the then
Secretary Of the Treasury,
George M. Humphrey. said
about "the worlds most sue
cessful and beneficial econ
omy":; I'VE found an econ
omy going stale. out Of step
with the times and out OF
step with the nation 1t had
to serve, an economy fearful
Of the ghosts Of bygone crises,
living precariouSly on the
treacherous lodges Of infla-
ton, subsidy, and excessive
crash-and-crisis government
spending" This was the
gloomy way the Secretary
summed up the economic
situation when he entered
ofice. Yet the New York
Herald-Tribune, q Republican
newspaper, said on January 8.
1858, Everywhere In America
people bought more, spent
more, produced more and
consumed more. Yet savings
piled up to new levels In the
Nations banks" The record
of 1852. the Republican news
paper went on to say, was .
record Of progress combined
with stability that augurs
we'll for the future" There
has been q widespread at
tribution OF this to Govern
ment spending: yet. leaving
out the World war II period.
the Truman administrations
cash expenditure to the pub
lie was less than It's receipts.
Constantine Brown ought to
look at the official record
which shows that the public
debt was less in December,
1852. than in December.
1945.
The panic-mongers are at
it again. and Mr.. Brown
seems to get frightened
easily. The way he talks
about the American economy
you would think we were the
poorest nation in the world.
One Of the main reasons in
creasing our foreign trade
difficulties Is that other coun-
tries, formerly crippled by
war, have now recovered and
are giving US sitter competi-
ton. If competition is a good
thing within our country, 1t
Is also a good thing every
where else, and. while 1t
makes 1t harder for our pro-
ducerS to sell. 1t makes 1t
easier for our consumers to
buy.
The almost one-tbird OF
our population which still
earns less than $4,000 q year
ARE in a poor way econom-
ically." will grant, but Who
ever says this is true Of the
Nation as a whole is talking
bilge.
Stephen Rock.
- -
While foreigners, banks and
individuals are showing their
doubt that the dollar Is sound
(by taking more gold out Of
the United States than we
have lost for years. our own
people are being propaganda
lied by our socialist press that
We've never had 1t so good"
The president of Pruden-
tial Insurance Company re-
Gently warned that our dollar
Is In danger Of possible de-
valuation II we do not change
our ways. Another devalua-
ton Of the dollar means that
salaries are automatically
cut because the dollars paid
in wages buy less In goods
and services. 1t takes more
dollars to buy what they for
merly bought. 1t is a SUBJ
CerIuge ana q fraud on un-
suspecting people.
Instead Of listening to
socialistic stories Of how
sound is our economy today,
let's face facts and start
working to pay the debt. The
only way to do this Is to cut
all appropriations and prof.
ects to the bone-to cut the
waste in every job, private
and public; to cut community
bills and all projects unless
the money is in hand to pay
for them; to stop taking sub
sides for not working, for
not planting, for not produc-
ing - and produce! Each
and every American Is in
volved in this effort to save
the dollar, our way OF, life,