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Show PRIVATE CAPITAL SHOULD BUILD POST-WAR WORLD Major-General Philip B. Fleming-, Federal Works Administrator, calls attention to the fact that the people of the United States usually usual-ly plan their construction enterprises enter-prises in boom times. This is easily understood when one realies that money is available avail-able in such a period. Of course, everybody realizes that the best time to construct anything- is at the bottom of a depression when the prices of material are low and labor is not highly paid. General Fleming thinks that it will be necessary to reverse this tendency if we are to head off the dangers of a depression. The problem prob-lem relates entirely to money. If j the average American has the j funds or can arrange a capital investment, in-vestment, there is no other impediment im-pediment to undertaking a construction con-struction program in depression years. The other day, Emil Schram, President of the New York Stock Exchange, declared , that private capital, rather than governments, should rebuild the post-war world. The observations already made apply ap-ply to this idea but if private capital cap-ital will be brave enough to take risks, with confidence in the future, fu-ture, it ought to be possible for individuals in-dividuals to arrance the financing that alone will make construction possible. |