Indianapolis Times, Indianapolis, Marion County, 5 November 1945 — Page 4

"FOR WEA

Sips American Production

WASHINGTON, Noy. &.

it must hurry, hurry, Rurry .

this...

hand, and a strong one .. .

ment of Bernard M. Baruch to of the nation; especially to listen. They assembled at the suggestion of Rep. Albert Gore, young Tennessee Democrat who became a friend of Baruch by fighting for - drastic anti-inflation controls during the early years of the war. Gore wanted his colleagues to know the views of the elder statesman and adviser to presidents in two world WATS. “After there had been food snd talk, Gore asked Baruch to discuss inflation. It was late when Baruch finished talking — of inflation and how it relates to taxes, to foreign loans, to industrial strife. Later, he wrote to Gore, summar- | “zing his thoughts in a letter filled with overtones of worry and warnee ——————————————

~Warns It Must ‘Hurry, Hurry, Hurry.’

By RAYMOND LAHR , ’ United. Presy ‘Staff Correspondent

production can save the situation now, as it did in war, but “Labor and management must be made to realize

“Unless strife ceases soon, government must take a

» - » » ” - A score of troubled congressmen gathered in the apart-

ibe made to realize this. Labor dis- |

without interference of government.

{how to divide that production, first, |=

J itaxes) unless we kre willing to es

|give aid to other Bountries, that this “{industries against us, to destroy our

RY WORLD! |

Can Stil Save Situation But.

—*“The, miracle of American

ALITA LULL SLE LL SH)

BERNARD M. BARUCH

talk and listen about the state

ing. Gore made the letter public last night, In it Baruch talks: Of industrial strife— ! “ ,. We must have full production. Without it we cannot keep any semblance of modern, civilized government. We risk inflation. We mute the voice with which we speak for peace in this world. With this full production we can escape inflation. Labor and management must |

putes cannot continue to interfere. with produgtion as they do. “For years I have had high ‘hopes | of collective bargaining and intelli- | gent leadership in management and labor to bring about understanding!

Reactibn from the war effort has caused much of the unrest but, un-| less strife ceases soon, governmen muft take a hand, and a strong one, ir the interest of the contestants, | the public and itself. Lost Perspectives “Whole segments of society have lost their perspective as to the rights of others. Worse yet, many have Jost their capacity for- indignation 3 over their own wrongs and the & wrongs inflicted upon others.” ot dividing the national product— |S 2 . We ought to examine our | productive capacity. and determine |Z

to see that enough of what is pro- = duced remains in the United States to avoid disastrous inflation, and then how to allocate for the re- | habilitation of Europe, China and the Philippines. ~~ “Unless this dividing is done wise- | ly, we will sink and the whole world | will go down with us.” Of foreign loans— “If we promise loans to foreigners, | the money will be useless if they cannot buy the goods from our pro- | duction here. . . . There is no use| giving foreigners credit (or our citizens greater buying power through increased wages and decreased

tablish priorities which will ration our production where we want it to | go until production increases. “We must be careful; “when we

aid is not used to. nationalize their

own competitive system, which, I think, should be preserved. England, Czechoslovakia, France and other countries are nationalizing or are about to nationalize their industries. Russia has totalized herself—one buyer and one seller—and is totalizing all countries coming under her aegis.” Of inflationary trends— “The demand for goods and increased wages — the race between prices and the cost of living — is going on here and all over the world. . « The conditions we are facing ‘were brought about by our procrasetnation and n ligence in not haw

Yeu don't heed cash to wear ew Yiues; We have newest in styles . . ey RET ality lenses oda now pair of glasses a Dr. F Farris. es Examined

GLASSES ON CREDIT |fconsiere: ouimea and” then put

fn a into our national wealth

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veryt been included in the original bill. Failure to do so started the race..." ie Fmots Were Needed of taxes — . T had hoped this ‘scuttle and ru’ policy which - is evidenced | throughout our life — military, eco- | nomie, spiritual — should have been heid—off and made parallel with peace and as we knew what our de-| mands and obligations were. . . tax reductions should have been mere

into effect, and only after the in=

and liabilities was known. “ .. Then we would have had facts, not fictions stirred by all the contending pressure groups‘ trying to help themselves in prices, wages, |

-e ipmeulrgtuecesiiarbin bo AH

race of selfishness is on. It plays an important part in the inflationary process.” And then Baruch summarized it all in this postscript: “The miracle of American production can save the situation now, as it ‘did in war, but it must hurry,

and taxes for their own interest and |S ignoring the general good. “The |g

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