Indianapolis Times, Indianapolis, Marion County, 24 September 1940 — Page 10

PAGE 10 Par of Henry Al.

night, follows: I have come to the farmers

mocracy and freedom.

ourselves have we know only

rages that they that unless we brave, we, too,

right té personal freedom. Today, if

freedom, we m what freedom is. of course, the| right to talk, to worship, to print our thoughts, to criticize the government, to work openly for the removal of our presidents and |governors if we do not like them. This freedom we have, and no political party shows any sign of doing anything to detroy this | basic framework of emocratic life. Only by conquest from outside are we in any immediate danger| of dictatorial government. Do not be excited by wild words that|fly in political. oratory. They are g part of our American tradition, put they must not blind us to the|real problems confronting freedom in America. A hundred years ago our ancestors not only had political liberty, but also they had more economic liberty than we have today. In those days the capitalist system of personal enterprise, free initiative and competition| was almost a sure guarantee of - freedom. Everyone had a chance. (If a man was oppressed in any (way he could pull up stakes and go West, or set up a little business of his own. You and I know that those old days have passed. There are still millions of independent farmers and businessmen in America, but we all know that the field of free enterprise is no longer wide open. In many areas of business the field is fenced in by the great financial empires, and most of us cannot get into those fields unless the men who hold power there are pleased to give us a job.

STRUGGLE STILL GOES ON

We can never go back to the simple days of a century ago, because big corporations are useful, and we cannot afford to do without them. But we must never forget that for the benefits of big corporations we have had tc pay by giving up some of our freedom, and unless we keep a constant watch| we shall lose more, more than is necessary. This struggle to hold onto our liberty in a business world full of trusts and combines, monopolies and holding companies, has been going on for 70 years, and it still goes on right here and now in the political campaign of 1940. During all this long struggle, we Americans have been trying to protect capitalist business, which includes agriculture, against the growing powers of high finance. There is a difference between business and finance, which some people sometimes try to make you forget. Capitalist enterprise is a familiar process of producting and selling food,

clothes, automobiles, and other use-|.

ful goods and services. It is certainly the most efficient system for producing these things that the} world has yet discovered. But high finance is not much concerned with producing real things. It is concerned rather with manipulating stocks, weaving an intricate web of controls— a web that the ordinary working businessmen cannot understand. When the web of high finance snares the little businessman in its meshes, he is helpless. He never knows what happened to

- him, except that he is out of busi-

ness, or is reduced to a salaried job as the servant of some unseen dis-

here tonight to speak the workers and the| businessmen of Indiana about deIn this dark year of the world, many free nauivns and piilions of free people 11ke lost their liberty, and a little of the out-

suffer. But we know || are wise as well as may lose our right to democratic government and our

hope to keep our ust be clear about Freedom is, first,

this

sity of adjusting ourselves to the world as it is. .". . The influence of such giant financial empires does not stop with setting high prices to consumers and drawing off the income from the legitimate operating companies at the bottom of the pyramid. Congressional investigations have uncovered a bad record of political manipulation. = High finance men have sought to control state Legislatures and state public utility commissions. They have put pressure on members of Congress, both in Washington and at home. Any man who fights them takes his political life in his hands. . . . Congress has found that the holding companies were playing high politics long before the great battle of 1935. They have tried to bring pressure on newspapers and magazines, through buying or refusing to buy advertising space. This was the chief method used by Commonwealth and Southern to kill off the Chattanooga News for the crime of supporting the TVA. They have hired college professors to spread propaganda under the guise of disinterested scientific reporting. They have tried selling doctored schoolbooks to infect the minds of children. They have sold the stocks of their companies to thousands of small investors who did not know that the insiders were skimming =the cream, and then called on these innocent investors to help protect the insiders. . . . Whenever an attempt has been made to prevent a repetition of unhappy experience, and to protect the stockholders of the legitimate operating companies, the holding company men raise an outcry that government is attacking business. In the confusion of the conflict, many of the honest men in banking and finance, and even some real businessinen, are drawn in on the side of those whose actions are against the interest of business‘ and of the public. There are plenty of legitimate businessmen in the utility business. They are to be found in most of the operating companies, doing the actual work of managing the generation and distribution of electricity. The engineering achievements of the industry are a testimony to the fact that in the works there are real producers who know and . care about production. They are not the ones who lack knowledge or business judgment, if only they were free to exercise their talents. But all too often the price

In the Democratic administration, despite all the debate and dissension that are a vital part of the democratic process, we have already been able to show gratifying results. Although there is still much to be done, we have reached an average standard of living higher in some respects than that of 1929, with no financial speculation on the scale that made 1929 a year of catastrophe. . . . We do not, of course, pretend to have the final answer to the problems of agriculture or to those of democracy in general. There is no final answer so long as wars and technology and other developments keep the human race in a state of constant change. But we have learned how to make a better adjustment to the changing world, so that democracy and liberty can have a fair chance to survive, and even to make new progress.

“SYSTEM WORTH KEEPING”

tant power.

“NO FLIGHT OF FANCY”

“it,

All of us know that this description is no flight of fancy. You have seen it| happen, to yourself or to men you know. You have seen free enterprises licked up by the advancing octopus, just as Denmark and Holland were licked up by the dictator. There is this important point about finance, as against capitalism, that we ‘must not overlook. Capitalist business, as we all know is anxious to produce and sell.

It is dynamic, forward looking, competitive, with a vitality of its own. But often the profits of

finance are most easily gained by controlling production, by forming monopolies to hold up prices, by creating artificial scarcity. Businessmen, engineers, production managers, caught in the control of financial masters are forbidden to follow their natural desires, forbidden to expand, {forbidden to reduce prices.

EEFERS TO INQUIRIES

So long as the business world is so largely held in check by financial controls that are opposed to production, the farmers and the wage-workers cannot do otherwise than organize . to. protect themselves. © As you all know, I have had to administer a great system for production control in agriculture, I do not like production control, but with so much of industry successfully cutting production and pegging prices, there was no other way to save| the farmers from ruin especially when a great market for farm products overseas sudcdenly disappears. The cause of scarcity economics is found in the monopolistic controls over large sections of our business world. We are struggling against that evil, but the job is a long one. Mean-

_ while we cannot avoid the neces-

ERT

FUNERAL HOME

1505 S. East St.

policies, the plans for expansion to meet future demand, the attitude of the operating company toward rural electrification, will be dictated by some man far away at the top of the financial pyramid, who never ran a producing business; never sold anything but stocks and bonds, and has only a second-hand knowledge of business problems. .

“WE HAVE PROGRESSED”

Beginning in 1933, the Democratic administration has labored at the long and painful task of repairing the devastation that had resulted from financial mistakes of the previous 10 years. We have not yet cleaned up all the dangerous monopolies and financial monstrosities that overhang the capitalist system in this country, but we have made progress. We had to shore up the tottering structure of democracy with public relief until we could develop useful public works, and we have had to use work relief while private business slowly recovered from the effects of the years of normalcy and of collapse. In ‘the meantime, we have been working on a sound underpinning for true business prosperity, in place of the collapsible

foundation of inflated finance.

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We have rescued the capitalist system of production, which had been almost Killed by the effects of financial management | before “1933. We believe that this old-fashioned system of free initiative and enterprise: for producing and selling useful things, "is worth keeping and protecting. We have recognized that free opportunity for all Americans can be restored only by defending the field of economic freedom. For the moment, our chief attention is de-

tial Text of Wallace Address yi IN KIDNAPING

Partial text of the address Wallace, Demo- | cratic nominee for Vice Presi- | dent, in Cadle Tabernacle last |

» “That’s Hoosier hominy,” says Claude Wickard (right), Indiana farmer who recently was appointed Secretary of Agriculture to succeed Henry Wallace, Democratic Vice Presidential nominee, at a luncheon yesterday at the Claypool Hotel in honor of Mr. Wickard. But Mr. Wallace just laughed and laughed because he knew that all good corn must come from I-o-w-a-y.

voted to preparing for defense against aggression from outside.

But if that danger should happily |S

pass over, we must be prepared also to defend economic freedom from breaking down inside our own country. . .. Private business is not outworn or obsolete, it is only suffering from the continued effect of financial interference. As we succeed in gradually freeing a larger number of businessmen from the control of high finance, will continue to grow on a sound

basis not like that of 1929. With/|2 such a sound restoration of capi-|3

talist business, the Government work programs can be more and more designed to meet public demands rather than merely to provide jobs. . ..

RAILWAY ENGINEERS INDORSE ROOSEVELT

CLEVELAND, Sept, 24 (U. P.).— The brotherhood of locomotive firemen and enginemen, which counts 85,000 members, yesterday indorsed —*"by the authority conveyed to the international president under the constitution”—the third term candidacy of President Roosevelt. “There is nothing to be gained by a change in our national administration,” Robertson said. “We know what it is and what may be expected of it. To effect a change in administration under existing circumstances may jeopardize the safety and future welfare of the country.”

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SANITY, CONVICT'S

VALPARAISO, Ind. Sept. 24 (U. P.).—A special plea of insanty was

for Earl Niverson, Michigan City

Prison convict, charged with kidnaping in connection with a futile escape attempt in June, 1939. Niverson, with Richard Sweet and

toured the prison. ago and sentenced to death.

P.). — Frank Stanislawski,

town hall.

on file in Porter Circuit Court today |

him.

Hoosier Goings On

PRIZE PLAN

Students Quit Class for Candy;

Reunions Mark the Hoosier Scene By LEO DAUGHERTY

THERE WERE ENTIRELY too many students in his class [in elementary sociology at Franklin College and Prof. W. G. Mather ‘was stumped for a while on how to whittle it down to workable size. just couldn’t invite any of the students to leave.

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1940

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| Alphonse Skusewich, was accused of After considerable thinking he decided to offer a 5-cent candy bar ’ seizing Mrs. Ruth Joiner, a Craw-| to all who would withdraw. Six took him up. fordsville welfare worker, as she 2 8 = UNDER THE heading of re- dinner All three prisoners were charged| unions comes— : , : : ® with kidnaping for ransom, carry-| Neither the guests nor the hosts re fit time thevd had FOR THE A EF | ing a possible death penalty. Sweet| were aware of the plans, but Mos, 60 years , : un was found guilty several months| Margaret Flores o S geles . a | arrived for a visit at the home of 2. a2.,8 2 thé NEW COMPARATOR ' her brother, the Rev. C. O. WHEN THESE THREE grad- NEW instrument with o Stevens, at Marion after an ab- | uated from Muncie Central High which you can determine YOUTH DIES IN JUMP sence of 40 years. Schog) 11189 New genious I ‘how "much better the New | They’d hardly got through with . Acousticon improves your hearHAMMOND, Ind, Sept. 24 1, the hellos when in walked Mrs. Muhle after roveral nt ing. It is for your use| . Calumet City, Ill, was killed yester- Jocelyn a itenell ingle While he was standing on a . . . hot for sale! See how day when he jumped from an auto-) pe. sister, Mrs. Stevens. street corner he met Dave Meeks |W effective your instrument & today! mobile driven by Tunie De Vries of ee a who had just returned from Hon- K near Hammond near the Munster And then when M. C. Bryson | olulu. While they were talking, hd De Vries told police he| came over from Paxton, Ill, to | up stepped Bob Sharp who just A # 0 U | | I \ had found the youth in his tomato| visit his brother, Charles I. | had came back from Texas where y .|patch and was taking him to the| Bryson at Laurel, they called up | he manages a raves : 130 E. Wash. St. > town hall to lodge charges against| their sister, Mrs. Elsie Pike of #8 Suite 527. ' LI-8781 ® Connersville and invited her to THE CITY of Marion is in the

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