OCR Text |
Show Demo Chairmen Report on National Tour Paul M. Butler, chairman of the Democratic National Committee, Com-mittee, reported this week that in a nationwide tour of regional Democratic political meetings, he found growing dissatisfaction with the Eisenhower administration. administra-tion. Mr. Butler told a Democratic rally at Clearfield, Pa., that he found a "growing concern among the people of our nation over many things, but especially the condition of our national economy econ-omy with sky rocketing inflation, infla-tion, exhorbitant interest rates, a farm depression and declining small business and the lack of presidential leadership shown by the budget fiasco, dangerous cutbacks in national defense and 1 scientfic research, the worsening international situation and the vacillation of the President on the vital issue of school aid and civil rights." Mr. Butler placed particular emphasis upon economic issues and asserted that the Eisenhower administration was aggravating inflation rather than curbing it. Mr. Butler pointed out that we now "have a selective, administered adminis-tered price inflation which is brought on primarily by an increase in-crease in the cost of personal and medical care, by the tight money policy itself and excessive exces-sive profits of large corporations who are setting all time records for profits, and who can administer admin-ister prices without fear of price competition from other large competitors. "Records set for corporate profits, personal interest income dividend income and income of commercial banks indicate excessive ex-cessive profiteering. How else can you explain the great increase in-crease in retail food prices and the decrease in prices received by farmers? What else is there to iustifv the oil and steel in- creases? "The tight money policy only aggravates this situation by making mak-ing the strong stronger and the weak weaker. It discriminates in j the best Republican tradition, in j favor of banks, corporations, and J dividend receivers to the tremendous tre-mendous detriment of the white collar worker, the laborer, the small business man, the farmer, and the consumer. It is a policy based on scarcity and as such, it sells short our productive potential, poten-tial, and costs os billions of dollars dol-lars in the process. Our policy must be ot seek both full employment and price stability sta-bility as the proper objectives of good governmental policy. This can only be done by recognizing recog-nizing that the economy must grow each year, and that in order or-der to grow, there must be adequate ade-quate credit available to meet the needs of an expanding economy. econ-omy. We must place the emphasis em-phasis on increased production and consumption. If we do not recognize this fact, then we will not be able to keep the prosperity pros-perity we have, expand it or distribute dis-tribute it properly among our people. This is a basic issue between be-tween our parties, and it is the reason that the Democrats are going to make this disastrous , tight money policy a No. 1 issue in the '58 campaign." o |