Salt Lake Telegram | 1943-02-15 | Page 3 | Private Capital Needed for Job after War, Industrialist Says

T- T y Private Capital Needed for Job After War War Industrialist Industrialist Says DETROIT Fib Feb F b 15 UP Frederick Frederick Fred- Fred erick crick C. C Crawford president of th the National Association of Manufacturers Manufacturers declared Monday that re rehabilitation rehabilitation re- re habilitation of the postwar world will require the Investment of astronomical sums of capital and private capital can do the job and will will If permitted ted Our rehabilitation problem Is not one alone of sheer efficiency or sheer Inventive genius he declared de- de declared declared de de- In a speech prepared for delivery before the Economic club of Detroit A whole world will have to be rebuilt Our own industries industries industries in in- will have to be reconvert reconvert- ed Industries In the war torn countries will have to be rebuilt The job will require the inv In Investment investment in- in v vestment of astronomical l sums of capital Whether we can do It or not whether we shall have real prosperity or a real depression in inthe inthe inthe the postwar world depends in great measure on whether venture capital can be encouraged to come out of hiding Government financed economic rehabilitation for the world can be undertaken only at the expense of the taxpayer The taxpayer taxpayer- who has cheerfully carried a crushing burden to insure victory expects and will demand relief from that burden as soon as practical after victory has has' been achieved