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Show the viV 3 mmE Tomn IN WASHINGTON Js Controlled Economy RAPIDLY THE NATION is approaching ap-proaching a controlled economy and by June will be operating under a controlled materials plan. There are some who scoff at the necessity of such absolute control and the . possibility of war with Russia. President Truman, who wears the cloak of responsibility of the national welfare, Is walking a tightrope tight-rope of public opinion. If war does come, it is his responsibility to see that we have something more than a broom-stick army with which to wage that war. If it does not come, It is his responsibility to see that the civilian economy is kept on an even keel. The President's board of economic advisors believe, and apparently ap-parently the President also believes, that this country Is big enough and productive enough to have our cake and eat it. In other words If production produc-tion is high enough and national income in-come is great enough, then we can at one and the same time produce the armament necessary and still produce the civilian goods necessary neces-sary to keep our standard of living on a high plane. That is the objective objec-tive toward which those officials In control of the nation's mobilization mobiliza-tion efforts are working. In one decade, from 1940 to 1950, the national income of the country rose from $81,000,000,000 to $250,-000,000,000. $250,-000,000,000. In the same period taxes rose from $2,600,000,000 to $26,000,-000,000. $26,000,-000,000. Profits on American business busi-ness In 1950 exceeded all previous levels, Increasing from $9,300,000,-000 $9,300,000,-000 In 1940 to $48,000,000,000 before taxes in 1950. The estimated national na-tional income for 1952 is $270,000,-000,000. $270,000,-000,000. To pay for federal expenditures expendi-tures for the calendar year 1951 will require approximately 27 per cent of that Income. This percentage, percent-age, plus state and local taxes, will reach 36 per cent, which economists say is a heavy load, but not unbearable. un-bearable. Inevitably in the process of keeping keep-ing the economy on an even keel, some folks and some business will be hurt. And there will be the usual gripes and criticism, characteristically characteris-tically American. However, if estimates es-timates come true, the future does not look too black. Investment Pays Cff Back in the 1930's the federal government undertook another of those rescue operations called "socialistic" "so-cialistic" by many. To save the building, loan and savings institutions, institu-tions, the federal government invested in-vested $125,000,000 in the capital stock of the Federal Home Loan Banks. Since January $46,000,000 has been repaid the government and by July two of the eleven district dis-trict banks will be owned entirely fcy their member banks. And on the Investment the government has collected more than $26,000,000 In dividends. Washington Silhouettes Alongside the Declaration of Independence In-dependence and other important state papers in the Library of Congress, Con-gress, now reposes a collection of the great voices in music, including includ-ing Caruso, McCormack, Schu-mann-Heink and others. At the presentation of RCA Victor were Rosa Ponselle and the widows of McCormack and Caruso .... Someone inquired for senator Ke-fauver Ke-fauver in the senate foreign relations rela-tions committee, to which Sen. Tom Connally of Texas drawled, "He ain't here, he's out chasing crap-shooters." crap-shooters." Senator Kefauver is chairman of the committee investigating investi-gating gambling . . . The peaceful white-columned, yellow-walled St. John Episcopal church where many presidents have worshipped at 16th and H streets, across Lafayette park from the White House . . . The district dis-trict covered b'y the Mall from Washington Wash-ington monument to Lincoln Memorial Memo-rial was once known as "foggy bottoms" bot-toms" and from the top of Florida avenue hill on 13th street on some of these early spring mornings the entire area is covered by fog, sweeping in from the Potomac. RFC Probe Hot The senate committee headed by Senator Fulbright of Arkansas got hold of a hot one in the probe of the Reconstruction Finance Corporation. Cor-poration. The committee charged some men on the White House staff used this influence to get loans for folks back home. But it turns out that ther- are on record some 900 letters from members of the congress, con-gress, including Senator Fulbright himself, who have gone to bat for constituents back home to get RFC loans. Looks like the Arkansas senator sen-ator threw a boomerang. VA Reports The veterans administration has Just issued a report showing the tremendous volume of business done by that agency in behalf of the 18,904,000 living veterans under its charge and reported a sharp reduction in operating costs. But Dr. Robert L. Johnson, national chairman of the citizens committee commit-tee for the Hoover report, has just Issued another blast at VA red tape and waste. |