Indianapolis Times, Indianapolis, Marion County, 2 September 1947 — Page 14
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“PAGE 14 Tuesday, Sopt2 2 1047 a | ROY W. HOWARD WALTER LECKRONE : HENRY W. MANZ President CL BditOF. + Business
—ernment urges a big increase in steel- making capacity: lon—my_-head
Gi) “property and 4 gent Expense that this interminable dispute, |
Manager “A BCRIPPS-HOWARD NEWSPAPER |
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Give LAGhE and the People Will Find Thetr Own Way | *
Five-Year Air Power Program |
IR FORCE generals and aircraft industry leaders should not have to plead—as they do— for a long- range] plan of air power development, : A long-range plan is the only kind. this country cat afford, in the world as it is. First, because it's the only kind that can be adequate; second, because it's the most economical kind. Charles T. Lucey, Sortpps Howard staff writer, has been telling how American air power has dwindled since V-J day. We hope his articles will help to arouse our people to the urgent need for stopping that disintegration and supporting the research, production and training essential to a modern air force capable to quick and vast expan. | sion in case of need.
jut, under present procedure in congress, air force, officers never can know for more than two years ahead how | much money they will get to spend. Therefore, they cannot tell the aircraft industry to count on continuing programs. The result, as President Robert E. Gross: of the Lockheed Aircraft Corp. told a senate committee recently, 18" that— “The whole paraphernalia of production js thrown intole a stop-and-start, turkey-and-feathers, feast-and-famine|
Ralston: Raised Philippine Question.
\ bebop 5
SAGA oF INDIANA . By William A. Marlow:
paper in the spring of 1900. after the United States from Spain under the treaty of peace Spanish-American war, Dec. 10, 1898.
Bryan's Speech Here : , THIS TWO-AND-A- "HALF-YEAR STRETCH was... liberty to them; that when God pollins a Yree-for-all sparring time in America on what to gave them their right to liberty, and a, Godhath do, with, and for the Philippine islands. Joined together, let no man put assunder.”. (Applause On June 6, 1900, Samuel M. Ralston, presiding * 0d cheers.) at the Democratic state convention at Indianapolis, Hoosier Statesman’ $ Views tossed the Philippine islands ‘into the lap of Indiana and Amesican politics. * He said: “The attitude of
tx
the jurisdiction of the former cannot be maintained without an abandonment of our national and constitutional] restraints, Our republic is founded on the principle that governments derive their just powers from the consent of the governed. . {f human liberty and self government were worth fighting for
"ithe 19th and 20th centuries?”
4ish government is so weak and so slow with its
psychology. We do not know from one year to the next | what we-can plan.” The needless waste under this system—or lack of sy §- | tem—is obvious. The taxpayers, as Mr. Gross points out,| =. pay more for what they get-than they would if the indus-| try could operate on a steady, long-range plan. Millions of | dollars are tossed away—millions that could be saved, with | better results in every way, under something like a five-| year air power program. : That would require a change in: the appropriation methods of congress. But it would be a highly profitable change, in -cash _economy and in national security, It should be made.
.
Proving Their Faith HIS country could stop worrying about inflation, says ‘Senator O'Mahoney of Wyoming
longer shocking, the creators of fashion have decreed that dresses|
will rush ‘to follow “the fashion! “If businessmen -would have faith in America and even spending for new clothing |
in their own capacity to produce, and would invest some of What ought to go for fodder for| their huge profits in expanding capacity to meet a market their stomachs. that hasn't yet been scratched.” _As to the steel industry, which seems the chief target of his-statement, the senator may have a point. The gov-|
|dozens of them say,
Many of the industry's leaders: oppose that. They con-|
[now in sweltering hear,
steel shortages, to carry out a large program of steel-plant |; ou tacturers demand that it is] building and expansion now. And they insist that their the new fashion, present facilities, plus modest additions already under con-| struction, will be adequate to lang-term needs.
made prices
Shirt tails for men were shorter to save material while
were pushed up. If there is to be Whether their attitude is prudent or timid——whether, any lengthening let it be on men's as Mr. O'Mahoney thinks, it reflects lack of faith in Amer- shirt tails and let women continue iea’s future=is a quest hich. th t sods al] 10 WORF Khee length dresses which { i question-on.which the country nee 8 30x and Teallv are comiorabic. the light it can get. mee SEE
But the senator's remarks could convey: the idea that How Much Do Junkets industry and business, as a whole, are’ investing none of Cost U. S Taxpayers? their-“huge profits” in the expansion of capacity to produce more goods and serve wider markets at lower prices. That idea, we think, would find no support in the facts. + The Philadelphia federal reserve bank's current monthly bulletin reports that business spending for the new plants for this summer vacation time. They
By 8 R. House, 227'% E. Ohio sf. It would be interesting to know
ress—i ime? and equipment is now at a record annual rate of $6 billion Must have lots of friends waiting for PIO n erime
“ISupsidized Scarcity "Won't Solve Problem
After all of the smearing caused By Thomas Lloyd, EB. R. 6, Indianapolis
{Jobs and, in this way, they can em~more than three times the yearly average for the 20/ ploy them and build up quite a polit-
years before world war II. “Business Week” maga#ine, in|lcal machine at the expense of t its Aug. 28 issue, says: “Today . , . business is spending taxpayers. about 70 per cent of its profits on new plant and equipment |
dl by their investigation so far; the only about 30 per cent for dividends.”
[return of moriey to the U. S. treas- |
many businessmen séem to have been proving their faith and “taking chances on the future of America” in a large |
to the cost of prosecution and the! 08s0f funds from the treasury.
Indie’ ai wi 2 Tons 3 : - lof 1929 did. In spite of what the rest of the business ‘Perform its three main functions: to examine and way, even before Senator O'Mahone 5 the memories of “the “oil swindle” dollar will buy less and less. : Sub | That would keep trucks out of that! y : O’'Makioney issued his statement. in the Harding administration, A sidized scarcity and black: market/area and speed up the flow of. traf- World might be daing, FDIC claims it has helped to help banks which get themselves in cabinet member took a $100,000 prices are basic principles of this fic. Cut out the 20-mile speed zone keep “banking practices sound. The high level of positions; to try to merge banks which are about to . bribe and gave away the richest new economy introduced. by the and restore 30:mile limits in that business activity, however, has increased the profits fold with stronger ones, and to pay off the depositors | Hold On to Thess Bonds naval ofl* reserve in the United killing of millions of pigs, plowing area, Make trackless trolleys and of banks 15 per.cent in the past year, FDIC reports, to the'extent of the insurance in case a bank does fail, i : : States—the people's. under crops. destroying -food. When! buses go in to the curb for-unload- to give them the highest gains on record. The latest This protection is one of the cheapest services the MPORE THAN 8,500, 000 G. 1. veterans of world war-11 Why not a law making it a life hunger and despair was haunting Ing and loading passengers. They net operating earnings are reported to be $1,100,- SOVEHMHeN: gives its citizens. It doesn't cost the now own furlough pay bonds Totaling Binos $1,850,- sentence for swindlers of the gov- the ‘home s of milliong of jobless/NOW go in at all angles and in most 000,000. 2 Xpayer 3. ent, be L . 000.000. B tod \ 1 \ . jase stop traffic completely. Mak % Jeginning today... they can, ey wish, them use the far corner instead of B H | 'Flah al O'Flaherty exchange these bonds for-cash. 5 de Glances By Galbraith {the near one for stops. Take all REFLECTIONS DY ol ; ¢ We advocated the law, passed by the recent session buses off the Cirele,
Hoosier Forum
Women Suffer Misery for Fashion, Spend Food Money on New Styles
By W. H. Richards, 127 E. New York st. Women are strange creatares. I can remember 5 years ago’ when the style was for dresses to drag on the ground and I wondered how women could walk when they did not have legs like a man. I was 10 years old before I ever saw a woman's ankle above her shoetops. Then dresses were shortened three inches and later when they went up to half the calf, they were a sight to a$tract the attention of men. Gradually they became shorter and men wt only looked, but both men “After they were cut to knee length, legs were such a common sight that they even ceased to get attention, women have been dressing sénsibly and comfortably and legs are no
Now, when for.several years
"I do npt agree with a word that you say, but IL will defend to the death your right to say it."—Voltaire.
shop.)
nected with every
must be longer. Of course, women |
Just how much’ money the Republi-|-- - lcans appropriated for all the world ernment elected by the people, from| {tours and investigations planned Washington, or ‘would this hinder ithe dog catcher up to the top in
|
|
These investigations bring back]
By
Views On The News
DANIEL
Reading
Maybe the Dutch and Indonesians tend that much of their current output would have to being tresses hanging sround their|can't hear those United Nations
| diverted from other industries, already plagued by severe necks. Poor women! They will|"cease fire” orders on account of suffer any amount of misery if} {the shooting.
Only a free world can afford anything so expensive as an American Ledon convention, :
Senator. McCarthy ' predicts: defeat of the Taft hous-
ing bill.
chairman of an impartial congres- |
sions.
The latest post-war experiment is to determine whether “two armed direction gets urider way. camps can end gras oO,
Several years ago it was style for general's reétationship to his job as {women to cut off their hair. I heard Democratic national chairman leads ‘Oh, 1t is such |to the conclusion that he must be {a Tellef to get rid of that weight [the hero of “Off again, on again” {of hair. I would not have all that even if his name is Hannegan and Solve Traffic Snarl again for anything.” not Finnegan. Zr [Then, fashion said let it grow and they have |
{some facts to support his conclu-|light!
{good farms.
M. KIDNEY
about the postmaster
degradation of landlordism.
Hou. 8 complicated manner,
of Wisconsin |
; t be He has jus come vice {will straighten out the traffic
Longer on the “80”
8-8 ”
Delaware st.
and on and off the Circle.
It is foolish to expect—any relief/and trucks all alike.
from shortages and black . market In fairness, we believe, it ought to be said that a reat] ury and convictions are nil compared | prices sg long as this subsidized agricultural program continues. without a militant protest by the people it is here to stay, and your
of congress, to authorize this exchange. Army and navy officers got, in cash, the texminal leave pay due them when they left the services. So ‘the original plan, under which men and women who served in the ranks were required 0 accept bonds and keep them for five years, seemed to us unfair, And whether any G. 1. veteran/does cash his bond now, and if so, what he does with the money, is distinctly his own business. But our earnest advice to veterans whose need for cash 1s not immediate and urgent is to hold the bonds until they
mature. They are a sound investment, guaranteed by the government, - They- earn 21% per cent interest a year. There is good reason to-believe that the dollars they represént will have more buying power a few years hence than in*the present period of high prices.
The same advice, of course, goes for all citizens who own war bonds,
Lost’ Opportunity FTER years of jurisdictional feuding, Hollywood's! movie unions still haven't been ableito decide whether! a table is a piece of furniture (to be made by the onspel ters) or a stage property (to be made by the stagehands). It's a pity that Gertrude Stein, when she was on his! earth, couldn't have arbitrated the strike. She probably | would have said “a table is a table is a table” dnd thereby settled the matter and avoided the broken heads, damaged
nk .
‘help correct a tendency.
Red Riding Fleod A Deceptive Tale
| By Worried Father
tof Britain has condemned
children.
tastic fiction books
believe anything.
N Parents’ made-up
harmful
In this modern age, ‘should have colorful,
families, our prime influstry on the dole and enjoying unprecedented prosperity while half the people live hand to mouth trying to. buck the black markets of subsidized free enterprises, (The twin of the closed The background of this all powerful farm bloc is enough to! alarm all of this back door entry| of fascism or what you want to call it. Our farm lands today are about all owned by rich and well to do absentees in, ‘turn they are “conof business, trade and profession in the eountry. In a lgrge way if not all our law{makers and thousands of others in public service at big pay and re-| |tirement pensions own ane or mere Full employment and | convince at least a majority of world opinion that hand-to-mouth living is a Fascist : trick and the first stage of serfdom. Aland reform is all that will save the massés from, the suffering and|
With Few Simple Rules By W. H. Schiake, 3032 Cornelius ave. To the general public, both motorist and pedestrian, it is amazing how tHe city fathers can jumble up| traffic in such a manner and. then! proceed to,appoint groups to try to} {unravel the situation in the most |
[ “Just a few simple rules and reguce {lations and a lot of common sense
sgl’ out the last depression, the information which is - slonal committee so he. can get First we must work on the M affic! revealed in the annual report of the Federal Deposit and [Insurance Corp., just off thé press, should contain {longer on the “change” so as to per- {the mos? real comfort, mit clearing of. the. intersection be-| fore the traffic frém' the opposite! Three Perfect. Years Syipre-
{go several blocks on a set of lights. | {been Second in line -is the turn situa- 1st, tio. No right or left turns on insured banks In 1934 hate been sold-or charged off.” Washington st. from Capitol ave. to Or no turn of anyl|crackers. When your banks begin to go under and kind in the business part of the(savings ‘are wiped out, downtown area with a couple of ex-|wonder if there ig any security left at all. And it ceptions such ‘as the union station|{was a crushing blow to, many small communities This to|when.the one bank in tgwn closed its doors. ” apply to street cars, trolleys, buses |
Third step to be a mixture of this banking difficulties.” - and that. Eliminate all the double!bank in America has failed since May, 1944. And|and triple parking by trucks. No! delivery in the business districts that the current inflation is not weakening the banks, during the so-called rush hours. the way the real estate boom and the paper boom . ,
Granted, all the above measures (will take time to put into effect, but | it could be done in a manner con-|
|venienit to all and at the same time! “Hayseed” town that may bear rich fruit.
The Nursery Schools association the!
ancient classic, Little Red Riding United States congress—more than $350 million, of | Hood, as cruel, deceptive and likely which about $80 million has been spent on materials
to cause fear complexes among order
There seem to be too many a {Money Alone Won't Do Job for children. | When children begin to find out/lies in use of American experts on roadbuilding, fac[that these stories are made up and|tory reconversion and up-to-date methods of adminuntrue, they tend to doubt or dis-
stories -and/chines required nor could they have put them to statements seldom accepted as| Work with any degree of efficiency. But with Ameroa EE a too Rp the ican. crews following up the Shiplouds of machinery, child has learned it was merely a the work can be driven through at high speed. {scheme to, get it to do something. : |Children become confused between/do the grading and the cranes that lift the truth and fiction. It may be easier girders into place on thé new bridges will insure a to entertain a child with a fanci-|quick and effective means of reconstruction. Tul tory; but I agree it may be, roads
children] 2 Money alone cannot do these enormous jobs. The factual! U. 8, can go on advancing Yuniay oF Making Jus, stories and there seems to be abut’ unless they are’ followed up the money may be. , trend in that direction, Pantastic!frittered away by politicians . bent "The First my ‘of school Wasn't $0 bad, bia | can’t soe — cutting fiction books can be left to: the idle| themselves in office. PE ou paper dolls is going lo help us us in n the business world!"
i,
a hin & senively Sow mont the arom of ex-
in the 18th century in America, who should now hg We must discharge our obligations in a
be found willing to deny them to the Filipinos in pignly way, in an American way. Conscious of of tel the |
fact that we have the power, the manhood, About 60 days later, in mid-afternoon of Aug. 8, 1900, some 15,000 people out.-of a crowd of 150,000 | that, thronged Indianapolis that day faced southwest = discharged, not dishonorably abandoned.”
WORLD AFFAIRS . . . By Marquis Childs U.S. Must Speak Up Plainly in Europe |
LONDON, Sept. 2.—~The United States is on the spot in Europe and the spot is bound to get hotter, Over here; opposition spokesmen charge the Brit-
apathy and dangerously low production. The other’
| economic planning and so lacking in up-and-at-'em leadership generally that Britain and Europe may {miss the Marshall boat. Should that happen, these critics -say;-European reconstruction is doomed and world recovery along with it, —+ =
‘Hard Task to Give Money
AN AMERICAN closely associated with production activities” here and on the continent admitted that much of what .is going on strikes the average businessman as visionary, experimental or politically motivated. y Yet if Washington even implies anything of the kind in its reply to the forthcoming bill of ‘particulars on which 16 European nations are now putting the finishing touches, it would be accused of meddling in {domestic affairs. - On the surface, Washington even would seem guilty of what Moscow has been charging all along. However, this American - contihued, for our own sake.as well as Europe's, we've got fo’ indulge in some plain speaking in the next 120 days. Incredible though it may seem, American diplomacy faces prob--ably the most difficult job in its history trying to give away money. We'll be damned if we do or damned if we don’t. But whether we do or whether we don’t, we must
Help Buope. But they were aghast! | showed uly ode in Shee Bette] 1
Marshall Plan Not Understood ~ THE OPPOSITION CHARGES ment lacks Jrsiine leadership; that it socializing the yo : i production; tha it places Ms own party program;
i amount of Tory polifics mn these charges.” The Tories are hoping for a come- i back. © Churchillians, of course, imply that if Winnie were at the Helm, he'd rally the crew and steer past the breakers without a scratch, just as in 1940.—'And it is edsier to rally a nation against an imminent thredt of invasion than to make it thrill over sterling _eonvertibility, The fact remains, however, that neither the British nor Europeans generally seem aware what the Marshall plan means. They fail to realize that 10, 20, 30 or more billions from the United States won’t save them unless they use more elbow grease and provide some sort of foundation for American | aid ‘to work on. .
all we are trying to do is to help mankind get back on its feet, ourselves included. Also, that the kind {of government other people have is none of our busi-~ ness but that refusing to continue to pour billions of our money down a rathole without Scoomplighing a constructive purpose is our business. British criticism of their vermeil double~ barreled. One barrel aims at the _sadlegedly - uninispired leadership on the home t resulting in
IN WASHINGTON . By Douglas Larsen Banks Now Are Stronger Than Ever
WASHINGTON, Sept. 2.—For the past couple of weeks thére have been almost daily reports and Ipredigtions, including one from President Truman, on How there is no business depression in the offing. But to those millions of U. 8. citizens who worried
| |
| { i
One of the more interesting things revealed in the report is’ that the FDIC now has earned enough to start paying the treasury back the money put into the program since its birth, after the famous bank holiday in 1934. If FDIC's s earnings of more than $100,000000 a year continue, the taxpayers’ original investment in the whole idea—$289,000,000— should be returned in a short time. And that still leaves the FDIC with its reserve fund of $1,000,000,000 which is required by law and which has been earned during its existence.
_ Most Accounts Under $5000
ACCORDING TO THE FIGURES in the report, the latest tally shows 81,655,000 different bank accounts in the U. 8. Of this total, 78,773,000, about 96 per cent, are accounts of $5000 or less and therefore are covered by Federal Deposit Insurance. The bulk of these are the savings and checking accounts of the average person. There are 1,729,000 accounts between $5000 and $10,000; 722,000 acounts between | $10,000 and $25,000, and 431,000 accounts of more | than $25,000. The first $5000 of the large accounts | are also insured. i Furthermore, ‘as of the first of the year, there!
THE REPORT SAYS that U. 8. banks are now Chairman Maple T. Harl reports that, at “the Substandard assets which Were..held by
The bank failures of the "30s were the real morale
that's when you begin to
For more than three years now, the report reveals, |“mio bank.depositor experienced a loss as a result of And in addition, no insured Another comfo
ng fact reported by the FDIC is in the U. 8. This should also make a nice cushion |
for any depression.
UN Salvage Crews Could Push Recovery
AN EXPERIMENT IS BEING TRIED in Greece A salvagé crew is assem|bling the material with which to rebuild a national | economy destroyed by war. Rodds, mines, farms and {factories are to.be restored. | Deadline for completion of the work has been set lfor June, 1948. By that time, Greece should have a Jmodern system of communications, and ample effi{cient ships to carry Greek oducts all’ over the
world. to another as the peace treatiés go into effect, Obviously, all of them will be asking for loans, Some Money for this work was appropriated by the already have granted funds. It be the!
nical advice and the know-how of It is a job for the United Nations. jcan people cannot be burdened with the
i
ed In this “Country.
rs, shipments are now 1 the way. ]
Greece, . Europe's néeds are being surveyed by the “Mar. shall plan” commission in Paris. This commission will come forward with requests for
THE UNIQUE PART of the Greek experiment
istration in spending and actual construction. ,L The Greeks themselves could not have ordered the ma-
it. Responsibilities once assumed must be honorably |
were about. $50,284,000,000 in sayings accounts alone | |
The report states that the FDIC will continue to | |
bilitles in each case such as they have assumed in}
TUESDAY
2 ALLWO ROUND
m8) ALL: vox SUITS. C
(22) FINE ALL SERGE SI
(30) ALL-WO( ~ ED SUITS
(51) 71% CA * Orig. 95 (39) TOPCOA sizes. Or
(26) BROWN SUMMER 35.00 ...
LIX GENU AND
(11 Pes) h 47 9%
12) BRIE ] ) SRE
(22) MEN'S F to 37.50
(58) MEN'S L Orig. 5.5
(14) BOTTLES
191) FLASHLI to 1.95 .
niniomg
WESTERN
(34) WESTER ” to 4.00 .
| (23) WESTER
to 14.50
(31) WESTER to 24.40
(14) WESTER 6.95 to
(37) SILVER 1
a Orig. 1.6
(27) WESTER 9.00 ...
(35) WESTER 55.00 ..
(38) WESTER 5.50 T
"et
MEN'S F
(122) FLANN
ringbon
| binatio
15,00 a
(88) SPORT slightly 3.25 to (380) MEN'S 3 neat ar : pattern (121) IMPOR hand ei 1.45 an
(321) SPORT § rayon ¢ the gre
210
Fine img but othe “soft coll to 17 in
We
NECKWE
TD
‘| ODDS AND * HALF HA
(1
LL A500. . .