Indianapolis Times, Indianapolis, Marion County, 27 August 1951 — Page 10

Monday, Aug. 27, 1951 WIS 3

py “tor dally and 10¢

ncle Sam, the Banker CK IN 1932, the Reconstruction Finance Corp. was created by Congress to help get the country out of the depression hole. It was to lend government money to private enterprise—agriculture, commerce and industry, small and large ~as & means of “maintaining the economic stability of the country, and to assist in promoting maximum employ-

ment and production.” No RFC is needed now to accomplish any of these

In World War 11, RFC lending agencies were used to build up facilities for war production. No RFC is needed now for this purpose. When Congress in 1948 extended the RFC, again, the idea apparently was to keep it as a standby, in case of new emergencies. . That's when RFC got into trouble. It began making loans “in complete disregard of the public interest,” as the Senate Fulbright committee has reported. Favoritism and influence replaced business acumen. Some of the officials began to- feather their own nests. These are inevitable results when a public agency has outlived its usefulness." : "..».» ® = » YET THE Senate Banking and Currency Committee, of which the Fulbright committee is a part, does not recommend the immediate liquidation of the RFC. It doesn’t pass on this question at all. Under present law, the RFC will not expire for three years. Instead the committee recommends tightening the law to stave off the kind of shenanigans the Fulbright investigation revealed. All of these are sensible safeguards—if the RFC is to be kept in business. Most of them already have been put into effect by the new RFC Administrator, W. Stuart Symington. But they don't meet the main issue—what's the need for the RFC? - “Direct lending by the government to persons or enterprises opens up~dangerous possibilities of waste and favoritism,” said the Hoover Commission in March, 1949. “It invites public and private pressure, or even corruption.” In 1950, the Fulbright investigation proved all that.’ Even. in 1948, when the RFC was extended to 1954, the Senate Binking and Currency Committee admitted the original need kad "subsided, and new excuses for giving | this agency more life had to be found. The principal excuses were that it “may” be needed ‘some time in the future, that it could find “certain useful - functions” and that anyway it wasn't losing any money. . Tongue-in-the-cheek stuff.

» . = ‘»

* ! R : . BEFORE a final decision is made on killing the RFC, the Fulbright committee recommentls a broad new study i / ‘of business finantitig in this eotntry. es Tt er That study ought ta'be made, regardless. Because as outlined by the committee it would take account of such things as the effect of the federal deficit on commercial bignkihg. the effect on the money market of government competition in private business and the effect of federal taxation on capital investment. Answers to these questions are important, not Just in deciding the fate of RFC, but in making tax policy, or spending policy, or agricultural subsidy policy, or in determining government ventures into private business. But the study ought to have in mind getting rid of the RFC. Even the good samaritan went on his after he had performed his service.

way

News of the Day IN MIAMI, FLA, an airplane landed on famous Biscayne. Blvd. with nary a scratch for anvbedy. That's better than a lot of airy-minded pilots of four-wheeled vehicles can do. In Washington, D. C,, there is a current drive to nightclub ladies who forget too many items of apparel. Jittle thought for the champion stripper the U. 8. taxpayer. In Hawaii, scientists say the rumblings'in the volcano Mauna Loa could mean an imminent eruption or nothing at all. The same could be said of certain presidential possibilities. In the heavens, the sun stages an eclipse next Saturday. Something ‘ve could wish on the Communist cutups at Kaesong. In New York. the Polish delegate to the United Nations has been retired to an “academic” post. Which 1s the first time we have heard Siberia called an “academy.” In Virginia, a government plan to build a huge new airfield has ruiced a storm in neighboring communities. They say they fear the noise. Showing that Virginians seldom visit Washington. In Tehran, Averell Harriman, President Truman's mediator in the oil dispute, was given a rug by the Shah of Iran. And had it pulled from under him by the British and the Iranian Prime Minister,

atl But of all.time

Hail to Pennsylvania

KR 50 years, Pennsylvania has been cre of those states which outlawed the sale of yellow margarine and, by i ive taxes and license fees, restricted the use of this » food. e. : But a long battle by housewives and fair-minded legislators finally hus overcome this discrimination. ~The Pennsylvania legislature has just passed a bill repealing the prohibition against colored margarine. «Thus the Keystone State joins the 39 others which Jas(ored to housewives the right to buy their margarine y-to use. on T Bo there is hope in the eight holdout states, including : still deny consumers the liberty of buying

per i oo Sat

Ec ——————— I —— a a —

PE 7 Ev {FNPF IES EF ER > Wa

ONLY 50 AT 73 . .

oung’ Alben WASHINGTON, Aug. 27—Vice President Alben W. Barkley's virtual announcement of his candidacy for renomination has been a

bombshell to a whole flock of prospective candidates for his job.

And, almost gasping some of them ask: “If Alben Barkley thinks he is young enough at 74 (that's what he'll be next year) to run again for vice president, doesn’t it fol-

One of the “shocked” Democratic possibilities says he is convinced now that the pres- _ ldential bee itself is stirring in the bonnet of the genial Kentckian. He declines to reveal all the evidence supporting his conclusion. But he says he knows this: “If Truman doesn’t run again. Barkley is convinced that he’s the most qualified man to head the ticket. And if Truman steps out and

DEAR BOSS . . . By Dan Kidney

Knowland Raps

Jenner Stand

WASHINGTON, Aug. 27 — Sen. Jenner's.

proposal that the Senate either rewrite or reject the Japanese peace treaty was challenged on the floor by Sen. William F. Knowland (R. Cal.). A pioneer critic of administration policies in Asia, Mr. Knowland maintained that the treaty with Japan had been drafted by John Foster Dulles after many conferences with Gen. Douglas MacArthur.

It is scheduled for formal signing at San Francisco in September. The Junior senator from Indiana warned the Senate. in a full dress speech, that it should be taken apart right now,

Prompt signing of the treaty is the best way to bring Japan into the free world and

save it from Communist domination Sen. Knowland contended. Unlike Sen. Jenner, he thinks that the Russian objections to the

treaty will be serious and not mere camouflage to speed the signing. The latter was one of the charges Sen, Jenner advanced in his speech, he considers the whole business part of the Red plot to take over all Asia. Pointing out that he has made three trips to Japan to study the situation. Sen. Knowland

sald he disagreed with the Jenner interpretation of the treaty, rela

Pays Tribute to General

CITING the Dulles-MacArthur conferences and the latter's advice that an end should be put to U. 8. occupation of Japan, Sen. Knowland paid tribute to the general. “I have believed that Gen. MacArthur has a better background in regard to conditions in Japan and the Far East than has any other living American.” Sen. Knowland said. He expressed regret that not invited to partici and indicated he MacArthur ideas. “It ‘is important that conditions of stability

once again exist in the Far Eas Sen now land cong luded.

: the general was pate in the treaty signing thought it embodies many

] “I believe we are making the firstofaint beginnings in that way with the mutual assistance pact which has been proposed between Australia, New Zealand and the United States, and with the mutual defense pact with the Phil~Ppines, These are. merely beginnings in that area of the world. but I certainly believe thev are steps in .the right direction, and are long overdue ane y : : "T quite agree Xth the Senator from Indiana as to the importance of Japan in the future picture in that area of the world. I believe Japan has been and is the principal target for ultimate Soyiet aggression in the Far East.

Urges Prompt Ratification

HOWEVER, T differ with’ the:Senator from Indian. in that I think we ean make our greatest contribution to Keeping Japan out: of the Boviet orbit if we. Promplix.2atily: the . treaty which, ‘will. soon be signed “at “San Francigco, And whickd hape will he“Fatified by the Beaite

NE: ody 3 of the: United Rtates ~

“If Japan once again becomes a self respects; «

Ing member of the family of nations. with her 0 mulion prople’ and her vast productive enterprises; I believe Japan can'make a great eontribution to the free world, to its own economic well being, to its own self-defense, and to the taking of the necessary steps in the mutual defense of both the Pacific and the Atlantic. “The alternative is to reject the Japanese treaty and to continue our occupation of Japan. I do not believe that would be sound. 1 am qujte sure that Gen. MacArthur himself believes it would not be wise for us to continue the American occupation, as such. Of course, 1 de not claim to he ahle to speak for Gen. MacArthur but’l think he has made that point perfectly

clear.”

HONEST BLUE EYES

MY LOVE has exes of honest blue | | fips like ribbon red . and 1

and won't be con-

tented till . . . the day that we are wed my love is just a tittle girl , , . with heart so good and true . and with her charming ways she'll win . . . the very heart of you . .-, my love Is wonderful beyond my wildest dream of love . . . and there is nothing ! won't de . to please my little dove , , . my love, my love

makes life seem bright , . . she makes me feel so gay ... . thal even when it's raining . , , it seems likb.a sunny day . . for she has eyes of

honest hloe , . . and lips of ribbon red and I won't he contented till . . , the day we are wed. —By Ben Burroughs,

SIDE GLANCES

FERS pea fd el

own spt YVR SEwICE. 2. 7 ¥oRme BS RAT OFF

“The doctor says it won't hurt dear, io just bite him if it does!”

a »

Barkley

~Jo¥ thal he also. Would. young. PEIN MTT Se En ti the LU

ae his. automatic renomination— the

WORLD TRAVELER . . . B

last winter, while -

By Galbraith

XAT = TA ERE

ALY RNA

. By Earl Richet Floors Party—W

doesn’t swing the axe for Fred Vinson (Supreme Court Chief Justice and a Kentuckian) you'll see the Kentucky delegation at the Democratic Convention booming Barkley for the Presidential nomination.” Sources close to the “Veep” deny there is any move afoot or contemplated to win the top spot for him. Their only goal, they say, is renom-

Mr, Barkley has been working

e idea quite prevalent among party leaders that he is too old to run’ again. . - He has gone out of his way to tell Democratic Senators that he never felt better in his life. And, in an interview with U. 8. News and World Report, he said he had “lots of years” ahead of him. Whether they are spent in public service, he said, depends on the American people.

A rie EA ok a

“As you know,” he said in the interview, “in the last 50 years the average span of a man's life has been increased by about 25 years. A man who is 70 now is supposed to be about what the man 50 years old was 50 years ago.” In other words, Mr. Barkley regards himself as a man slightly over 50-—considered by politicians to be just about the right age to TT de De yg rover So SRY See ' meeting in Denver in May, most party leaders took it for granted that Mr. Barkley would not " run again because of his age. Stories reporting this fatt were regarded by some in the Barkley camp as “plants” by would-be candidates for his job. But they evidently spurred the “Veep” to take the trouble to let it be known that he is in fine physical shape and willing to go again. Mr. Barkley went on a diet about a year. ago, lost a lot of weight and looked poorly,

OK Champ, How Tough Are Ya?

BET RR

y Frederick C. Othman

EA A A A NT EL POAT

Me?—In a Castle in Spain—?

WASHINGTON, Aug. 27 — One cold night the winds were. howling through our alleged weather stripping. my bride remarked drgamily that ghe. wished she livag",

in a castle in ‘Spain, 4 : She is about To get her wish. We aretaking o

up ‘residence: shortly in a genwhoe castle with battiengghts built fn 1402 on top 6f.a mountain at Oropesa on the pike tween Portgual and Madrid. . Christopher ('olumbli& hadn't even been horn when our castle Was built. My spies report that it has been restored exactly as it was in the first place, with genuine antiques of 500 years ago, as a hotel for tourists like us, The Spanish Tourist Burean. which did the job, the only change has been the “unobtrusive addition of tiled bathrooms. And that's what | want to see; an unobtrusive tiled bath.

SAVE

Cost of Living

WHAT pleases me most is the cost of living

like a Spanish grandee: $1.75 per day: with meals, $1.75 extra. “T'll Jet you know how this works out, Fact

13, we expect to see a good deal of Spain in the next few weeks and I'll try to fill you in on what kind of place it is. - The high-level stuff on Francisco Franco I'll skip. My opinion wouldn't be worth much, anvhow. But I will try to tell vou about the Spaniards I meet and what they have to eat and whether théir green colored wine is as good as they claim. After all. we taxpavers may be spending a good many hundreds of millions soon for air bases in 8pain and it wont hurt to know about where our money is going. Getting to Spain is a good deal easier than you might think. We're flying to New York where we'll change planes for Madrid, 1 thought the Trans World Airlines was plain nuts when it reported that we'd ly by Gander, Newfound

WASHINGTON, Aug. 27--Wages of millions of American workers were hitched up with prices Saturday in an ex-

periment which if it doesn't work -—could prove to be this country’s biggest economic gamble.

For the first time, it is government policy to encourage and even influence employers and labor unions to contract for “escalator” arrangements under which wages go up or down with the cost of living. No trouble is anticipated so long as prices can be heid

steady, The hazard comes if prices rise or fall sharply. If prices rise enough to

cause a jump in living costs, taking wages with them, employers may find themselves forced to increase their costs further or to go out of business, That could be the beginning of the dreaded wage-price spiral.

Ed » o BUT IF prices and living costs go down notably, wage - earners will be required by _ their contracts to work for less money. Will labor unions "accept pay cuts willingly? Dr. George W. Taylor, chairman of the Wage Stabilization Board, says he thinks they will

e-n1®

land. What's the idea nf heading for the North Pole when you want to go to sunny Spain, which igs. only a skip from Airica? The ticket agent got out, his. globe : A

Full Treatment

NEWFOUNDLAND 15 the closest piece of North American Jand to Spain, and what's more we'll ly over the Azores in case our Consteliation needs to land That shut me up. From now on “'ll leave the rgatter of flying routes to the management 7

for

ons

In our travels ny plane Hilda and T always have sat up all night, as in a day coach. Thi was comfortable enough, but hard on the crease in a fellow's pants. T'his time we are taking the full treatment She has a ‘lower berth, I have an upper. 1 intend to cross the Atlantic in my pajamas and.’ while I am about it, have my breakfast in bed I trust the stewardess

who brings it will be beautiful. Moving around in Spain and getting copy back to headquarters wont be quite simple. That's why I'm figuring on being out of the paper {or a week or two,

8|n

Pale Pink Octopus ~

FROM the land of the Dons we will head for Rome. where 1 hope to buy my bride a dinner at L.a Biblioteca. my favorite retsaurant, which is walled completely with wine botties. All full. l.ast time I ate there my version of Italian brought me a small boiled octupus by mistake. It was pale pink. We'll what Mrs

the

head for Paris, where I'll relay 0. has to say about the nekkid ladies trapezes at tne Bal Tabarin. If we have any money left, wnichk is doubtful, I'll help her choose a hat on the Rue de la Paix.

then

Hasta la vista, as we Spaniards say. I've

got to catch a fiving machine.

LABOR . . . By Fred W. Perkins

Uncle Takes Big Gamble in Wage Policy |

rire pan IPT re

ants Veep Job Again

But he’s loosened up on his eating rules and now looks much better. But he still obviously is a man well past the age of 50. If re-elected, he would be 75 when he began his new term. His desire for renomination hurts the prospects of a number of big-names in the party (most of whom deny aspirations for his job); Senators Robert 8S. Kerr of Oklahoma, Estes Kefauver of Tennessee, Paul Douglas of Illi-

General belief among ‘the Democratic leaders is that if Mr. Barkley wants the job the party cannot turn. down such a loyal wheelhorse. President Truman would be the only one possibly able to withhold the nomination from Barkley. And it's believed doubtful that he: would try. Mr. Truman had Mr. Barkley thrust upon him as a running mate at the 1948 convention. He did not ask for his nomination then,

Hoosier Forum

“l do not agree with a word that you say but | will defend to the death your righ! to say it."—Voltaire, y

HIERN IRRRE RAR TIN NARS, Tastttassanesesnsnnaas’

‘Fishy Information’ MR. EDITOR. In a recent letter to your newspaper, Mr, William D. Price commented that something was “fishy” about the manner in which the parking meters, presently in use by the city, were selected. ‘Mr. Price contended that the meters were chosen contrary to the advice of consulting engineers who were paid good money by the taxpayers, then ignored. It appears 12 me the only “fishy” thing about the whole proposition is Mr. Price's source of information. The true facts, which are a matter of publie record, are: ONE: That the meters now in use were recommended by consulting engineers in 1946 and again in 1949, That these engineers and the ones Mr. Price has reference to served without compensation in performing a civie service for the taxpayers. TWO: That the meters now in use were bought after bids were submitted to the Board of Public Works, which is required hy law to accept the lowest and best bids. The meters now in use cost $55 per unit. The meters Mr. Price would have the city use cost $87.50 per unit. In other words. a savings of $12.50 per meter was accomplished. The total amount saved the city on all meters was thus $30,000 . . an impressive figure. THREE: The meters now in use are working excellently. A few of the other type meters were installed in the Fountain Square area. It was found that their mechanism is for too complicated. It takes an expert craftsman to repair these meters when they break down. Since the percentage of breakdowns is the same with both meters, a great deal of maintenance expense is saved on the present meters, The manner in which these meters were selected was a continuation of the efficient municipal government which is giving us a dollar's value for every tax dollar spent. —Thomas Deitshel, 2440 N. Meridian St.

‘Trigger Happy?’ MR. EDITOR: : : io There has been quite a lot of talk abot the

or TRE 5 BPPYL- police. Well rrr ~ coilmpause

cents worth.

I think you'll agree that the average policeman is not a mind reader. He's only human. My question is, how was he to know the man shot was not a hold-up man, perhaps even worse” Put yourself in his place. If you were a policeman and saw a car going at a high rate. of speed, without lights anda ifs driver refused to stop at your call or warning shot, what would you have done? : : : ke} Perhaps ‘thig policeman... ws remembering his fellow poige’ offer Suhp A Goo nocerit” people. Rememifering his” fellow officer whese gun.never leff his holster, My; busbang isa policeman. Each day when he leaves .for "work my children and I are threatened with the possibility of never seeing him again. ’ The risk is

great,

— A Policeman's Wife, A. A. B.

‘A Good Question’ MR. EDITOR:

I overheard an interesting conversation this week between two men whom I know were speaking sincerely of the topic. Said one man: "Did you know you cannot make peace with your enemies?’ I believe him, I would like to add to this man's question and say: Did you know that when your enemy tells you he has nothing against vou and you later learn that behind vour back he speaks evil of you, that he is your worst enemy” When vou hear them gay they love the Lord, but they hate you, they are as the Good Rook save, ‘A Har.”

We are to do good to those who despitefully nse us and who falsely accuse us. and when they make all manner of fun of You and eriticize you because vou believe, then they are not your friends, they are your enemies! There are. those who are so full of malice and envy that they just can’t hear to see their neighhors get along. It's a fact. Recause these people despise, they think others should do the same. They should change their ways. Their slurs can only hinder their progress. —Mrs. Faye Hardesty, Mechanicsburg,

and points out that three small bers, declares that industrial “In times of emergency reductions were accepted with- profits in general have been everyone must sacrifice—as vet ~ , repr. of ; out Sampiaint oy a so large that wages can be too few are willing to make sgheras , " the sacrifice themselves. The ala nereas and prices held sta- . has heen operating an escala : ; dig P success or failure of this (escator system since June, 1948, tionary. lator) regulation rests squarely with quarterly adjustments, In Alexander R. Heron of San on the shoulders of every the three years GM wages have pyancisco, president of the . American. If separate groups. registered a net gain of 20 cents Crown-Zellerbach Corp., speak- working directly or through an hour, because of the esca- ng for the six. management pressure organizations. conlator clause. members, says, “the best thing tinue to stoke the hoiler hy THE GM example causes Dr, that can happen is for prices demanding greater price inTaylor to believe that other to remain stable.” If they creases and higher wages, inunions will ~co-operate in a don’t, the industry members evitahly the boiler is going to similar manner. However, it °XPreas some dark forebodings. explode and the cost of living is admitted that there has They signed a statement which is going to skyrocket, and we been no big test in recent years Said: will enter into a mad and of workers’ acceptance of “It must be pointed out that ruinous race to our national a substantial cut, especially | escalator arrangements are cconomic downfall. since the wage trend has been not based on sound economic a 58

steadily upward for 10 years or more. Regarding the other possibility further rises {n living costs and wages Dr. Taylor gays, “Too much emphasis has been placed on prices following wages.” And he expresses confidence that higher wages can be absorbed by increased productivity of workers and

technological .improvements in .

industry. His views represent in general those of the board's five other public members. Emil Rieve, C10 leadér<who

is one of the six labor mem-

principles and can quickly lead to grave dangers. Putting all workers, manufacturers, farmers and merchants on escalation (which has been done in varying degrees) may easily prove thes first step to national bankruptcy. It resembles the kind of self-geperating and

rapidly. cempounding inflation

that at first adjusts the value of- the wage dollar every six months, then every three months, then every, month, then weekly, thea daily as we

have «sen happen in other : ) Lt po -

THE MANAGEMENT members urged prompt reversal if after a reasonable trial period the wage escalator plan is found to contribute substantially to inflation.

The management members voted for the«plan, they said, on the ground of equity to employees. Approval was hy unanimous vote of the

Economic 8tabilizer “=¢ Johnston. The regulatic 3s. largely self-administering. out employers have to make re-

yor

A “hn

*2 2 ** board members and late- oy

nois, and-Go arg Sigroeean #F- Tink = rg Sole Swenees Aug

oo W

of what they do under it. «+ §-

3 ES

the teeth. They day week. They were ply of coppe war work. Everybody copper. But it back. 8 running thi the copper s country’s pr in a jiffy.

THE CO} the big ones, There are f necott,” Phel Brass and Si the package, But there wheel, witho industry wi within a wee That's A Smelting Co ing. The pi refineries buf ing and Sme you ‘can tu gram uner tl

I DON'T | to last long many people too many } is what the afford. If it lasts for the adn over, give tf then turn th the owners, in price to co Does that : It ought to

The Scop

The hottes town is the Engineering St. It's spi little any ma I walked who has ju dinky 9500 new, fast-nm 25,000 squai machine tool 4 WHAT HI men, He's a war work wt as they go makes jet p This will g ran from 70 to 95, and i In six month 150. 3 4 + AND HE'S onthe Book months, “teve doors, cut th bought a do Union boys But, as you This didn’t ‘effort on his Grade-A.

Bustin’ Ou The _weatHe werd” wet, work. So the: on-the-hodf t Today’s run stockyardg. stitute laid if

“at 14,000. Sp

force-fed to : in five to six E. THE FEE hand in it. raising time months. The hog diet, I w growing vita of antibiptics The pig has And the prot skin grow a hams. And scme those lab sm around, a pe fast he'll bu hide.

The Gran

I HAVE" architect's d dered if build that glamoro The archite produces son bare building: formations, a He also put walks, not v drawing goes ing man. B knows. peopl “picture. " HE ALWA neatly cut. 7 in the sun. A street in fron like polished 1 I think th courages. the give the build as the pictur e comes pre!

# WHAT TO picture in fre new addition

PAENY CLOVDY CLOUDY ARI

oor. co " TODAY tion are in fe