Show 2 J What Constitutes tes Security r The most vicious present definition of security is that it resides in political power or in government l' l That is a statement made b by y Utah's own Wallace Fi F. F r. r i Bennett president of the National Association of Manufacturers E l ers in a speech delivered at Des Moines Iowa on Feb 18 And how true is that that statement Also how untrue and 4 vicious vicious is the belief of so many that governmental agencies can support them and insure them security from want and fear We Ve find it locally Many people have the idea that the city can do most anything build and maintain a hospital put in new sidewalks build a new electric plant and distributing ing system oil all the streets maintain recreational centers etc but they seldom stop to think thin where the money for i fi such things is coming oming from even eyen even in so small a political unit 1 t. t fy t S rA i V I t j J Yr 7 to 1 J t r. r as s the city It seldom occurs to these people that the residents residents residents resi resi- dents of this city must pay for all improvements made here and that there is a limit to the amount of revenue the city government can collect from its citizens And when it comes to state and national matters few indeed are the people who realize that whatever the state or federal government pays out must first be collected from the people Governments produce no wealth but at the present present present pres pres- ent time the various governmental units local school district district district dis dis- dis- dis county state and national take about one third of the income of the citizens In other words if you are a worker you work one day for the government for each two you work for yourself The income from that third day is taken by the government and distributed among the various governmental bureaus agencies and departments and used to pay the so-called so pensions given to old folks folksy and veterans etc and to maintain the armed forces build roads and pay for the thousand and one other governmental activities For years the government has been collecting social security taxes from workers and employers and employment security taxes from employers It is supposed to take care of workers in times of old age and of unemployment It is based on a system that is similar to annuities in life insurance insurance insurance ance policies There is one important difference however Life insurance companies invest their receipts in industry real estate buildings power companies and other Bother things which produce new wealth and services Money paid in for social security teacher retirement employment security etc is in invested invested invested in- in vested in what Most of it is used to pay current governmental governmental governmental govern govern- mental expenses or invested in government bonds issued to pay current expenses including interest on debts for past expenses In other words the money the workers and employers employers employers em em- have been paying in for social security is secured by DEBT nothing more or less Jess So just how secure is security that resides in political political political pol pol- power or in government Think back just a few years when school teachers were paid by warrants which could not be cashed when the county paid its workers and its obligations in warrants which might be cashable at some someI I 90 I future date It was then hen that everyone realized realize that gov governmental governmental govern govern- rn- rn mental agencies could pay payout out only that which they first collected from the people Hard times had hi hit t the taxpayers Only a fraction of them could pay their taxes County and school district coffers dried up states vent went in debt if their credit was still good and the federal government started deficit deficit def def- ef- ef spending debasing of the currency etc As Mr Bennett also said in his speech Security is not the product of political power a truth which should be pounded home to every citizen of this republic Mr Bennett then offered a definition for the word SECURITY S for Spiritual Strength E for Enterprise C for Character and Courage i U U for Understanding and Unit Unity M R RI for Responsibilities J N A 0 I for Individual Integrity I T for Truth I IY Y for YOU You must win this fight for security and truth Yes the greatest need of security in our time tim is f for r spiritual and moral strength and stamina Material security will be a sure product by-product of these but nev never r of political pro pro- |