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Show Released by Western Newspaper Union. PLENTV of frontiers FOR US TO CONQUER OUR THEORETICAL economists, who strive to plan America's future, fu-ture, tell us we have reached the zenith of accomplishment; no further fur-ther progress can be expected; there are no more frontiers for us to conquer. They tell us we can only stand still or go backward. Tf this were the summer of 1893 I might believe such statements, but not in 1944. During the summer of 1893 I spent a number of days at the World's Columbian exposition, at Chicago. I saw exhibited there the marvels man had accomplished, the wonders his ingenuity had perfected. per-fected. It then did not seem possible pos-sible there was anything left to be done by future generations. One exhibit that caused much mirthful comment as a crazy man's toy, was a "horseless carriage." At times, and with the exercise of much patience, it would actually move over short distances at a speed not to exceed five miles per hour. "Old Dobbin, or the prancing bays, will continue to pull the carriages car-riages of John Smith, the grocery-man, grocery-man, or Phil Armour, Marshall Field or George M. Pullman, the plutocrats of their day," was the verdict of those who viewed that plaything. But that mirth-provoking toy was the first of the automobiles of today. to-day. The internal combustion engine that propelled it, crude as it was at that time, has revolutionized our transportation of both business and pleasure. Today 30 million or mon of them are operating in this coun try, an average of one for eacl family. Their production and main tenance gives jobs to more thai six million of our workers. That development has all come since 1893, and it is but one of thousands of new frontiers fron-tiers we have conquered. At that exposition there were no radios on display, no electric or gas refrigerators, no airplanes, no air conditioning, to mention but a half dozen of the thousands of things the ingenuity of man has given us during the last half century. These things have made our continued progress possible. They have provided jobs for an ever increasing number of workers, work-ers, with double or triple the money in the weekly pay envelope, en-velope, with more time to play and more with which to play. Certainly the end has not only not arrived, it is not even in sight, nor will it be within any time we can visualize. We do not need plans merely to keep what we have, we need plans for utilizing all the future has in store for us. No, I cannot be pessimistic about the future after seeing what has been done in a world that seemed complete in 1893. COST OF LAST WAR AND THIS ONE WE FINISHED WORLD WAR I with a Federal indebtedness of some 27 billion dollars. With the exception of a few months in 1921 we enjoyed unusual prosperity up to the fall of 1929, with a national income to a top of 90 billions a year. From the close of World War I to 1929 we paid the interest on the national debt and reduced the principal by more than 10 billion. Our national debt now stands at more than 210 billion, bil-lion, with an annual interest charge of better than 4 billion. To pay the interest and reduce the principal prin-cipal as much as 3 billion a year is about the best we can hope for. That would mean 70 years, j more than three generations, before j that debt is paid. And the end is j not yet. It will continue to grow 1 until at least one or two years after j 'he war is over before we can reach j the point of a balanced budget. INCOME TAX ON LARGE INCOMES THE MORE YOU GET, the less you have, was the Federal tax rule for 1944 as applied to those of large gross incomes. From those with incomes of $100,000 the Federal government gov-ernment took, as taxes, $74,813, leaving leav-ing a net of $25,187. From those with gross incomes of $300,000 the tax was $277,122, leaving a net of $22,878. From $500,000, income taxes took $481,789. leaving only $18,211. The unfortunate individual, ' of which there were some, who had a gross million dollar income had to pay $993,456, with only $6,544 left out of which to pay living expenses. Private yachts and racing stables had to go by the board. Certainly j large incomes were drasticall; discouraged dis-couraged in 1944. IN 1913 THE COST OF OPERAT-j OPERAT-j ING the Federal government was $7.17 for each of the 110 million , men, women and children of the I United States. In 1940, a year ! before we were at war, or spending spend-ing large sums preparing or war, the cost was $71.58 for each of aur 130 million people. What legitimate legiti-mate function of government was worth that difference to you? COLLECTIVELY WAR COSTS us nany billions. Peace will prove expensive ex-pensive to some individuals. |
