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Show Henry Ford And The New Deal o By L. A. Hollenbeck j Henry Ford has hesitated to sign the NRA agreement or code. It violates his fundamental principle prin-ciple of "Free Competition." But he is a little too technical and really should sign up, without little hesitation; because, a controlled con-trolled competition is better than an uncontrolled competition. The writer believes in a free competition, because a free competition com-petition is a natural law of trade, but a free competition is not an unrestrained competition. If a Competitor, because of a cheaper price for his goods brought about by co-operation in production, is able to beat his rival in the market, mar-ket, he is entitled to that benefit. bene-fit. This is free competition, giving the purchaser the benefit of an actual value price. But, where a dealer or company is wealthy enough so that it can afford to sell goods to the public for less than the goods cost, for the purpose of crushing out a competitor in business and then after his competitor is crushed out, raises the price to the public, and thus regains all his losses and also gets an unreasonable price for his goods, that is not a free competition. That is a case where an abused competition is used as a method to crush out a "free competition' as Ford calls it. Free competition is the life of trade, but an abused competition is not the life of trade, but a graft upon the people. The "New .Deal" contemplates a controlled competition in the interest of a square deal to the public as well as between competitors, Roger Babson truly says, that the "New Deal' may redistribute wealth, jobs, and profits, but it cannot be a permanent success unless it also redistributes those qualities of industry, integrity, judgment, initiative, self-control and courage." Mr. Babson says that' those qualities are the fundamentals on which the growth of the United States has been based, and that "If we redistribute jobs and prosperity, pros-perity, but not initiative and courage, cour-age, we will be only "stacking the deck" rather than actually redeal-ing redeal-ing the cards.' Mr. Babson says further, that "a study of economic history and business statistics ,shbws that the prosperity of the I United States in the last half century cen-tury was largely due to the foresight fore-sight and activitiy of a few in-jdustrlal in-jdustrlal leaders; and anybody i who scans economic history knows that Babson is right; but of course that doesn't change the fact, that some speculators have ! made unjust riches by watered stocks and chicanery, which is wrong. However, reward for j merit, hurts nobody, and benefits j everybody. |