Show QUOTES COMMENTS ON CURRENT TOPICS BY NATIONAL characters DECISION by ALFRED SLOAN JIL JR motor magnate t T HE highest wage scale is tife effle y JL best wage scale providing io 5 is not out of balance with other factors in the national economy so far as the broader implication implications of the decisions are concerned I 1 am satisfied that they will eventually be recognized as vital steps forward in promoting a sane industrial recovery sooner or later we are bound to rec cognize that regimentation and bureau cracy have no part in our national economy they can only produce one odo result lowered efficiency increased costs and reduced standard of living we have also to recognize the fal lacy of the theory of scarcity upon which many of our recovery programs are based recovery ne covery can be promoted only by increasing productivity arbi arary and uneconomic increases of tie tl e factors that make up prices penalize penalise pen alise productivity and retard recovery en em Is reduced as well FOOLHARDY PANACEAS by HENRY 11 HEIMANN of IT national association of credit men bien IN TN THE broader field of endeavor JL that confronts us in these days we must eventually find a growing responsibility taken by each individual to do his bit for the better ment of mankind here Is the field that presents tremendous opportunities but in ln our endeavor to promote the happiness health and the comfort of our people care must be exercised to avoid these foolhardy panacea panaceas which have taken such a toll from peo pie throughout history we see the ranks of the unemployed and many accept them as a permanent condition they do not realize that half of the people employed today are working in industries that did not exist 50 years ago fifty years hence half of our people gainfully employed in industry will probably be performing labor as yet undiscovered perhaps not even within the minds of the present generation NATIONAL PROBLEMS by HENRY A WALLACE secretary ot of agriculture ODAY when farmers and TODAY laboring men ask for a delegation of federal power equi equivalent valent to t 0 the t h tariff r H f or c r the corporate r p 0 r a t e form of 0 organization rg a reza tal 0 n 0 or r the federal e d e r a 1 banking structure they are la in danger of being met by some such statement as this it Is not the province of 0 the court to consider the economic advantages or disadvantages of such a centralized I 1 system it Is sufficient that the fed eral constitution does not provide for it I 1 am reminded of that famous ob atlon by justice holmes the life of the law Is not logic the life of the law Is experience presumably it if the experience of the american people sug bests that the advantages of attacking national problems nationally outweigh the disadvantages then sooner or later national problems will be at tacked nationally necessity Is the mother of social as we well 11 as of mechanical ch anical invention NEW DEAL AND COURTS by CHARLES X BURDICK dean ot of cornell law school I 1 IN N VIEW of the emergency and the consequent recognition of the common importance of any national program adopted to meet gen eral economic and social problems it might be possible that tle supreme court would now uphold congressional legislation imposing as a condition ot of interstate shipment of goods ance with rules as to quantity ot of production wages hours of work and col active bargaining if public opinion Is strongly and persistently in favor of changes and developments in government a way to accomplish the desires of the people will ill of course ourse C be found in the united states where the or ganic law Is the sti supreme preme law of the land the courts may delay they kiy in ay iy to some extent direct but they cannot in the long run withstand a defined and persistent public opinion THE TVA PROJECT by JOUETT SHOUSE president american liberty league HE TVA is a perfect example bof JL of irresponsible political and economic bureaucracy I 1 it ts a blared objectives are of course really co cop I 1 and proper but 1 in t I 1 the whole authority la Is a federally sponsored experiment in state social ism it Is noteworthy that no matter how socialistic some of our recent e er et T perl ments ts are their sponsors have re fused to present them under their proper labels SOCIAL SECURITY by MISS FRANCES PERKINS secretary of labor IN T N TWO years the united states I 1 has worked out a system of job insurance that took europe 15 years to accomplish the bill Is subject to change for it Is a human instrument with human imperfections r representing e p resenting compromises among varl 0 ous u s factions but I 1 know that once it Is in the laws of this land we shall not lot abandon it but tin improve proe upon it from bear 3 ear to 3 jear ear service |