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MiA.'-'Si'!': ''A-Zy., 'i ,*'* . -.', , T\ * -M' V VOlL. 24—No. 32 NORTH CANTON, OHIO, WEDNESDAY, MAY 19, 1948 6c PER COPY New Light on Profit Some industrial leaders now refer to that oldTjoker item, profit," m a new way. Annual reports of corporations are beginning- to list profit more properly as that part of the sales dollar spent for "use of tools." This is an understandable way to designate whatever, money is paid to stockholders or kept in the business for reinvestment or expansion. tffl -American workers have good tools they turn out good pwrtlucts at reasonable prices. Without good tools the picture would be diiferent. A hundred years ago each workman had only $550 invested for his use in the form of tools. Today more than 11 times this amount, or about $6,000 worth of tools, is back of the average American workman in his productive efforts. In terms of purchasing* power, our average workman's wages have increased aboutfive fold, even though he works only half as many hours as he did1 then,. Tools, then, are important to all of us. Where do they come from? The price of these better tools (sometimes they're expensive tools) has come from people able to save from their incomes a little surplus to invest. Most of these folks today are in the income bracket of $5,000 or over. But through life suranee 'and bank savings, nearly everybody in America participates in these purchases of tools. Obviously, we have a high standard of living- partly because of the labor-aiding- tools we have accumulated. That is fine. But-we must not forget that it is possible for America to have such national policies, that tool investments are not forthcoming. In fact,- during 1930 to 1940 when our account in tools (capital) slipped downward 19.4 per cent we found that our economy wesj$ backward rather than forward. Looking at the record^ -\ye see that most of our tools were accumulated in the generation prior to 1929. .From 1920 to ' 1^?';a*taSLcapitaI •a°we-4 to industry at the average rate of S^^^^^^^^^Ze^But the years from 1933 to 1945 were . -^an^^^^^HHMHJ|^lf|^l§|. Period a yearly average of less ^.^^^^PwH^HMk^^P^^- tn.to_jtools for our workers -to What was the troubIe?Tmfe trouble was that government had entered the picture and had begun to siphon funds away from the capital market. Tool money was turned into, taxes. New too1<yHtan«y|carce. People were afraid to invest. Even after the ^^^^^^^^^t§^f nt its part of the savings taken in taxati<^^l^^^^^^^^^ined and millions were still unemployed. We neOTe^^^^p- turned to tools and incentive, not to taxes. „ ^as-®j Unsound taxation policies must not be allowed to get in the way oi^ood tools and incentive investments. Today our corp- orations""aKp retaining smaller profits that may be turned into tools. Jn 1946, though it was the best year on record, manufacturing establishments averaged only 5 cents profit (use of tools) out of the sales dollar. The corporation average was less than that. We must not forget the importance of tools. W^ need profit, for profit means tools. Cancer Drive Needs Help to Reach Quota Stark County is the only county in Ohio to fall down on the current fund raising drive of the American Cancer Society. Local drive oftcials believe the goal can be reached if the need is presented to the people of Stark County. The demand for cancer control funds far exceeds the amounts on hand and being raised. For every dollaar contributed to the society, twenty-five cents goes to research. The $3,000,000 which the society will spend on research during the 1948-49 fiscal year is the greatest outlay of its kind in the organization's 35 years of existence. Sixty cents remains within the state to be used for cancer detec- sion center, clinics and services to patients such as transportation, sick room supplies, medical equipment for tumor clinics at Mercy and Aultman Hospitals is included in the local outlay. Fifteen cents goes to finance a national program of education and administration of the society. During 1947, the society inaugurated many new projects including monthly bibliography and a package lending library on cancer diagnosis, speaker bureaus in many states, a library of slides on cancer diagnosis for speakers and teachers, a library of technical films, a nurses teaching program and a large number of articles and radio scripts for public education, the report stated. Miss Addis K. Barthelmeh is vice president of the Stark County Chapter of the American Cancer Society, which met recently to discuss current expansion of the tumor clinic program in Massillon and Alliance, and the possible hiring of another nurse to aid in the chapter's expanded program. If you haven't been contacted to give to the cancer fund, send your contribution in to the North Canton Junior Chamber of Commerce who are heading the drive here in this locality. Draft Training Bill Approved "I Am an American" Day "I Am an American" Day, observed this year on May 16, has been widely celebrated as an expression of patriotism. It is an occasion when people can well reflect on the great privilege's which they enjoy as Americans, They have the freedom which is a precious and priceless heritage, handed d<An from the-founders of the country. They are at liberty toThoose their own way of life, and to think and speak theii own thoughts. They have freedom of religion, "and can worship in whatever way seems best to them. There are vast populations in this world where such freedom does not exist. In some lands people are fearful of expressing their ideas, and they talk in whispers, and are apprehensive lest someone should report what they say, and ii should be deemed that they are disloyal to the government. It is a wonderful thing that in our country people can say What they think, and that we have freedom of speech, freedom of the press, and a free radio. It is a wonderful thing that ^people are free to express their own convictions when they vote at elections. . Th< majority rules, and-the.people can vote freely for whatevei type of government they want, and they know that their ballots will be honestly counted. Many observances are held on "I Am an American" Day, in honor of young people who have just attained the voting age, and of newly naturalized citizens. New voters participate in these exercises with enthusiasm. They value, the privilege of" voting for the first time, and are glad to feel that they have their share with the rest of the people in shaping government policies. The great traditions of the past of our country have been handed down to us from the founders. It is up to the present lUteration to maintain these traditions and to keep the country moving along the march of progress. The American people gave a wonderful example of their patriotism, by the devotion they manifested in the two World Wars. Poppy Day fo Be Observed May 27 The North Canton American Legion Auxiliary is sponsoring "Poppy Day" which will be held on Thursday, "May "271 TThelifrgebuts of North Canton will assist in the sales. When the American Legion Auxiliary adopted the poppy as its Memorial Flower, October 1921, it pledged the profits from the poppy sales 100 percent to welfare relief WASHINGTON, D. C.—Sbundpho'to—Teen-age Senate Page Jack Walker, center, of Pierre, S. D., discusses the combination draft training bill approved by the Senate Armed Services Committee with Defense Secretary James Forrestal, left, and Committee Chairman Chan Gurney, (R)' of South Dakota. The, vole on the legislation which would register youths 18 through 25 was 7 to 2. gion May Little Art Gallery During R/iontSt A tour of the May Show exhibit now hanging in the little Art Gallery of the North Canton Public Library can be made until the end of May, Robert Rainey director of the Gallery has announced. Useful Visions If idle, dreaming is called a waste of time, it can be said that achievement is the result of thinking that at the start might be called a dream or vision. People who have accomplished remarkable things had for a long time a vision'of this result which they longed to accomplish. -They pondered . deeply about it.. They, considered how it might be achieved, X and-worked to accomplish that aim. So their visisn grew, arid ^became a reality and conferred a benefit on the world. 'f„717fThe pr6phet7Jder;.in;the..Bible:spoke of,the day when the *f7::Lord:.would pour.out^His ^spirit on all flesh, and'old men -Z"'-i,-U'^Z.irj-.-j.. '__.__!__. l3U_Siii5»« Jj>"i^_^ .+>>__>T5iT_-_ii'r>'_-_•' mam ah rtivhf SP**** Vlisinns-' for service men and women and their families, thus fulfilling the tree meaning of the poppy — an amblem of faith. The memorial ponpies are made by hand, by disabled veterans in hospitals in forty states. The workers receive pay for each poppy made, • the material being furnished by the Department of the Auxiliary in the state in which the hospital is located. More'than 25,000,000 poppies are sold under the supervision of the A.meriean Legion Auxiliary, proceeding Memorial Day, by approximately 125,000 volunteer workers. The proceeds of these poppies is devoted to rehabilitation and child- welfare work. "Wear a Poppy on Poppy Day - - In remembrance of American heroic dead and in helpfulness to the living disabled veterans and their dependents." In addition to the exhibits which won prizes, there are many excellent pieces on display. It will be worth your while to make a tour of the Gallery to see if you agree with the decision of the judges on their choice of prize winners. In addition to Mr. Hugh S. Olmes and Mrs. Mildred Olmes who acted as judges of the paintings, there was also Mr. Myron R. Jones, who is a member of the Photographic Society of Amerca and Mr. John E. Garsey, a member of the Canton Photographic Society who acted as^j^&gszz&fz ,»the-- many--fine- -photograpjs were submitted '--- 1 l^ enthusiasts. The May Show committee was comprised of Mrs. Elizabeth Bricker, Mrs. Roy R. Frye, Miss Rena Pottorf, Mrs. William Shuttleworth, Mr. Ellsworth P. Smith, Mr. Kenneth Smith, Miss Etta Stoner, Mrs. Conrad Traut and Mr. Robert Rainey, director of the Little Art Gallery who acted as Chairmaan Ex-Officio. by. loraal^aarajg Picnis to Be Saturday The Stark County School Picnic, sponsored by the Stark County Council of Parents and Teachers, will be held at Myers Lake Park on Saturday, May 22, from 10 a.m. until 7 p.m. School Busses will be available transportation to and from ^jsp reduced to half price except -_he"small boats, the pony and the Roller Coaster. Any children under 10 who are not accompanied by their parents will not be .permitted J to ride the, rojler coaster. The Basket Picnic is raider the supervision of Mrs. Walter Ach- auer, Mrs. Ransom Barr and Mrs. Norman Steiner. Morning, .May 31 North Canton High to Graduate 80 at 59th Annual Commencement May 28 Dn. T. W. Graham, Dean of the School of Theology, at Oberlin College, will deliver the commencement address when North Canton High School graduates 80 seniors Friday, May 28, at 8:15 p. m. in the high school auditorium. Dr. Graham who will speak on, 'The High Seas', win be introduced by H, Wayne Russell, pricipal of the school. Stanley Macomber Received Patent Grant in April On April 20, 1948, the United States Patent Office granted patent number 2,440,053 on a "Floor Tile" and Joist Construction" to Stanley Macomber, North Caanton, Ohio. This invention pertains to a rigid, fireproof steel floor construction that is simpler and easier to build than the usual metal lath and concrete floors, and which may installed by inexperienced workmen without regard to their ability to proportion and mix ingredients. As is commonly known, joists are horizontal beams of timber or steel that are used as supports for floors and ceilings. The chief feature of Mr. comber's invention resides in the shape of his joist; and, in general, it is made of a strip or sheet steel and comprises an upper section in the form of a V shaped trough, and a lower portion formed into an inverted V with the ends of its apex slightly spread apart to thereby result in a central groove or opening extending along the length of the trough. In constructing Mr. Macomber's The North Canton American iLegion Post No. 419 is sponsoring a parade and Decoration Day Exercises on Monday morning, Mayi floor, his joists are properly sup 31. [ ported at spaced intervals, and the Forming on the corner of Har- trough portions thereof are filled mon and South Main, the group will march to the Memorial Stadium where a program will be furnished. Participating in the parade will be the Middlebranch and North Canton High School bands, The American Legion, American J-e- gion Auxiliary, (Navy Mothers, Spanish American War -Veterans, Boy Scouts, P.T.A., School Students. Catholic Order of Forresters, Rotary Club, Optimist Club, Jaycees, Woman's Clubs, Phalanx, and Sportsmans Club. ls^-All.prides in.the-parkiCHAPTER BB.OJF-F. E. O. TO MEET MAY 24 with mortar. Floor supporting tiles of burned clay, gypsum, asbestos or other fireresisting material, made of suitaable length anad shape to fit the spacing of the joists, are then laid and bedded on this mortar and any resulting cracks and joints are also filled -with mortar to form a solid, fire-proof masonary floor slab. To give added strength and hoold- the tiles firmly against the mortar bed, metal screws are inserted between adjacent tiles anad screwed into the groove, of the trough. To complete the job, a coat of mastic or terrazzo is placed upon the tiles to compensate for any uneven— ness and provide a cushion upon which linoleum or the like may be Chapter BB of the P.E.O. Sister- j placed, hood will meet at the home of Mrs. • The application for this patent was Haul Beals, 209 Fifth Street on j Monday evening, May 24 at 8:30 p. m. Mrs. Louis Acheson, will assist the hostess. Mrs. Harold Sickafoose will have charge of the program. Festival ef Choruses to 28,7: The Woman's Club Chorus of North Canton is sponsoring a Festival of Choruses to be held in the North Canton High School Auditorium on Friday, May 21. at 7:30 p. m. Included in the group will be Middlebranch Mothersingers, Minerva P. T. A. Mothersingers, Hartville Sorosis Chorus, Canton Mothersingers of. Canton P. T. A., Triosis Chorus, Canton Woman's Club Chorus, Canton Junior Guil- dettes, Uniontown Mothersingers, Jackson Singers and the Woman's Club Chorus of North Canton. lorth Canton Junior Woman's Claih to install Officers May 24 LADIES LITERARY TO HOLD SPRING LUNCHEON The North Canton Ladies' Liter- arv club will meet in the home of Mrs. Bannester in Massillon on Thursday, May 27, at 1 o'clock for their annual Spring Luncheon. The hostesses will be Mrs. Elta Evans, Mrs. Susan Holl, Mrs. E. L. Garman, Mrs. J. Evans, Mrs. O. P. Kidder, Mrs. M. A. Cossaboom, Miss Ethel Brown and Mrs. Nell Berry. BETHANY CLASS ftfEETS THURSDAY, MAY 20, The Bethany Class of the Zion Evangelical and Reformed Church will hold their last meeting of the current -season, on Thursday evening, May 20 at 8 p. m. A movie, "Seeing; North Canton in 1936" which belongs to the Community Building; will be shown as one of the features of the evening.-Another feature will be a 'Bakeless Bake Sale.' Mrs. William" Blank is program chairman, and she is being assisted by Mrs.r Ernest Brong, Mrs. Paul Hess and Mrs. Alfred Ault. "Christian Woman' and Her Home" will be the devotion topic which will be given by Mrs. William Blank. The business meeting will be conducted by Mrsk Paul Christman, president of the class. Mrs. Ralph Martin,' chairman of the refreshment committee, will be assisted by* Mrs.,. James Ashbaugh, Mrs. Edwin Willaman, Mrs. Lester Ashburn, Mrs.;Roye Frye and Mrs. John Levinger. Plans are in th& making for a picnic to be held "ori June 17*. ROTARIANS TO SEE FILM OF SIBERIA Mobile Unit Here, Have You Had Your Chest X-Rayed? Two More Days to 60 Well folks you.have just two more days left, while the Mobile Unit is here in North Canton, to get your chest X-Rayed The North Canton Junior Woman's Club will meet at Oakwood Manor on Monday, May 24 at 6:30 p. m. for their spring banquet, and installation of officers. Mrs. Harley Myers, outgoing presi- ident of the Senior Woman's Club will act as the installing officer. Mrs. Robert Weinland, program chairman, will speak on ''Personal Analysis." Miss Ruth LaVonne Clapper, well known opera singer, will present several solos. Mrs. Kenneth Wagoner is chairman of the banquet committee, Mrs. John Allison is heading the decoration committee and Mrs. James Miller is in charge -of reservations. filed on May 29. 1945 and consist of seven claims. Softolaslic Honors MRS. SMITH WITTER TO SPEAK AT RAVENNA Mrs. Smith Witter, East District Director of the Ohio Congress of Parents and Teachers will be in j. mi i,i j_ ,. • i i - i " -ni i charee of "Parliamentary Procedure"- free. To have that peace of mind which you will never have. at t^e school- of instruction being unless you do. Everyone else has either had it made yester- held at the Ravenna Township day or is planning to get it done Thursday or Friday. When everyone else receives then- report and finds out that they are either okay or need medical attention, how about you . . . will you receive a report? Or will there always be a little worry in the back of your mind, maybe, well just maybe you'3 better not kiss that beloved grandchild of yours .1 . . you know you can never tell . j. . you may have TB germs lurking inside to . . . strike that loved down . . . even though it may not effect you .. . your own. body being strong enough to keep the battle even. Dnn't think you haven't the time . . . for when your friends are gathered at meetings and social gatherings and talking about their reports, will you have to change the subject or quietly ease yourself out of the room .'. . so they won't know that you were one of those few who put health assurance last. Take a minute now while going to the store to shop or on your way home from work and get that chest of yours ex-rayed so everyone,- man, woman and child in North Canton can say we are all' safe . . . we've had our chests Ex-rayed. Remember food 'handlers . in the county have been found to have in front of the Community Building and you have to do is be there sometime between 10 a. m. and 1 p. m. on Thursday morning or between 1:30 and 4:00 in the afternoon. Or if you can't make it then, the unit will still be parked in front of the Community Building on Friday between 2:00 and 5 p. m. aan,d 6 and 8.30 in the evening. You can't afford not to get your chest X-rayed. School on Monday, May 17, at 10 o'clock, for the-.. Portage County Council. TIME CHANGE AFFECTS NORTH CANTONITES Monday morning at 2 a.m. North Cantonites, along with citizens of Canton,, turned their time pieces ahead one hour. This change, making the. evenings darken slower, is effective for the summer months only. Three students from North Canton were among the winners of the Ohio high school scholarship honors announced last week end. State Education Director Clyde Hissong said 244 students took high honors among 12,264 competing in the final district- state scholarship test. Of the 244 leaders, 25 were from the Stark County area. The tests were given in 21 subjects taught in Grades 9, 10, 11 and 12. More than 900 high schools were represented in the tests conducted on college and university campuses May 1. The participants were chosen on the basis of preliminary district-state tests given 78,000 girls and boys on April 9. Because of a tie in one subject there were 22 first place winners in the 21 subjects. Thomas G. Lancashire of North Canton received a first place rating in plane geometry, scoring 53 out of 56. Among the tweny-five students from this area to score in the top 20 in their subjects were: Shirley Louise Miller a 12th grade student who scored honors in General Science, and Jean Marie Weber, another 12th grade student at North Canton who received her scholarship honors in French II. i The class will be presented for graduation by Raymond E. I'rachsel, superintendent of North Canton Schools. Clyde R. Powell, president of the board of education, will present the diplomas. Thomas Braucher will give the class history .David .Shaw, class historian, will give a review1 of the activities, William Liebtag, vice president of the class, will' present the- welcome address, and Gloria Gloor the farewell address.' The program also includes invo- ' cation by Rev. Paul R. Daneker and • benediction by Rev. M. A. Cossaboom. Barbara Miller will present a solo, and the senior girls chorus will sing several numbers, for the musical program. Presentation of the cap and gowns will be made by the senior class president Ray Sumser to the junior class president Eugene Boettler and the senior secretary Barbara Gill to the junior secretary Marilyn Surbey. Music will be furnished by the high school orchestra under the direction of Mr. U. O. Sepplin, director. Baccalaureate exerecises will be held on Sunday, May 23 at 7:30 p- m. in the high school auditorium with the Rev. Fr. Raymond Steiger of St. Paul's Catholic Church as the speaker. Rev. M. E. Beck, Rev. M. A. Cossaboom and Rev. P. R. Daneker will assist. The girls glee club directed by Mr. Maynard Everson, and the high school orchestra will appear on the program. The eighty graduates are: Eleanor Ann Ake, Niles Genfe Baab, Wayne Edgar Baker, Sally Ellen Bassett, Hazel Louise Bear, Doris Elaine Boger, Thomas Walter Braucher, Ruth Adele Burkholtz, Nancy Jane Christ- man, James Mathew Clarke, Dona Jeane Clough. Shirley Mae DeBonney, Robert Ellsworth Edwards, Michael Jack Ford, Barbara Elizabeth Gill, Rachel Marie Givler, Jean Lavonne Gladfelter, Gloria Louis^ Gloor, Ginevra Elizabeth Grant, Neva Mae Greenho, Jack Thomas Harper, Elmer Thomas -Harrison, Anna Jane -Haunj < Charles Judson Haun. Richard Lee Hawkins, James Harvey Heckman, Don Hinerman, Carol Margaret Howe, William Carl Hummel, Ronald John Hushour, Dorothy Mae Jackenheimer, Elinore Ruth Jauman, Marilyn Ann Kaufman, Raymond Fredrick Kaufman, Mary Jane Kendle, William Eugene Kobel, James Winston Lear. William Leroy Liebtag, Jacqueline Logan, Richard Ellsworth Marquardt, Patricia Ann Masline, Barbara Ann Miller, Jack David Miller, Qean Melvin Morris, John Charles Mundorff, James Bryce Neff, Shirley Jane Olson, William Lloyd Owens. William E. Powell, Frank Sherman- Pratt, DeVona Jeanne Rinehart, Joan Marie Roseman, Geraldine Berna- dette Schneider, Leland Allen Schneider, William Edward Schreckengost, Vera Mae Schworm,- Richard Adrian Seeman, Rosemary Shaheen, Claranna Louise Shaub, David Lee Shaw. Myron Berkley Shaw, Robert Allen Shaw, i Donna Jean Shetler, Edward Allan Shilling, William Jordan Smith, Dean Allen Starks, Marilyn Therese Stephan, Julia Faye Stroup, Raymond Joseph Sumser, Jr., Mary Netzley Surbey, Wayne D. Surbey, Shirley Jean Voll, Robert Howard Warburton, Jean Marie Weber, Joan Louise Weber, Howard Richard Wil laman, Eleanor Dawn Willis, Elizabeth Ann Young, Robert Joseph Zeiger, Blair Dale Zimmerman. INITIATED HONORARY ATHLETIC ASS'N Duane L. Patterson, son of Mr. and Mrs. Lester J. Patterson, of East Maple Street, has been initiated into the "D" Association, athletic honorary at Denison University, in Granville, where he is a sophomore. Harold Royer Eleoted President of N. Canton Jr. Chamber of Commerce The members of the North Canton Rotary Club' will have- the opportunity of seeing 'life in Siberia,' a moving picture-which-has been procured by their-program chairman; - , ,,., Burdette, .W4sei.^from,.the_ Eire§tone TB, they may have passed.it on.>.to Tire and Rubber Company} O '. 7_J-.7, ..you, as might your lellow passenger " " "' ' '----■-- - ---'-'' •• • *■ ■-- the.oneTwho remember! remember:-*the*tiiHe .-i*_^_*..' .Lire cui—. xiuuuci *i,\jmpas±y* - ~v .„ 4-:... ..yy.^i **** 1*1.5..** j—■—- —-—",*-; ■ -Tlie dinner,meeting-which-",is held." in the bus or train .,. .;thexi in the^Cqinmi!^ .rei Harold Royer of Willowdale Lake, who was elected president of the North Camton Junior Chamber of Commerce, will be installed in office at the final June meeting of the group. Mr. Royer, who is with the Brown Graves Company in" Akron, succeeds Don Druckenbrod, who becomes board. a member of the TTr.if' .c.V>arkp.-I "■ ' ■" ■'M.i^mfS^.^«aaaa-B?-'«TifSffl>r'*y •Y*y5--I?:Pa?ffPS1,t^*:.. - ", ^;im¥»' .ns>a-**i-j<sa3S«^i-i-, :MdM'M9kMM^M^j^Mi^4SAii$PU *XXX$AXyXX^C£X$'Xl&i^^ Other new officers includa George Armour, first vice-presi- ' dent, Aaron Schontz, second Vice president; William Stall, treasurer; William Hart, secretary and Don Olson and George Gross, board members. Final arrangements were made at 'the Tuesday meeting of tKe Jaycees as to what and how, they were to assist the village officials in getting the streets around the . square in a cleaner condition. Also taken up with the council at a recent meeting, _ with 'Aafon '- Schontz and Clyde Vanaman rep-1 resenting the Jaycees,, .was the" .subject of adeeua,tely marking the playground areas, to help protect * the children:.. ,;,.. _.', - - >.''•.. ,, :The„ J&ycees met; at Boettler's 7 / cabins-near" [Cairo. ..on Tuesday,"fey? - !? enirij-fl*^.'^ c",-!1*-'-,''""7 •■ >■ '~'\ •' * 77 v - 1 -.7-1? '<t£
|Title||The Sun, 1948-05-19|
|Place||North Canton (Ohio); Stark County (Ohio)|
|Submitting Institution||North Canton Public Library|
|Submitting Institution||North Canton public Library|
MiA.'-'Si'!': ''A-Zy., 'i ,*'* . -.', ,
* -M' V
VOlL. 24—No. 32
NORTH CANTON, OHIO, WEDNESDAY, MAY 19, 1948
6c PER COPY
New Light on Profit
Some industrial leaders now refer to that oldTjoker item,
profit," m a new way. Annual reports of corporations are
beginning- to list profit more properly as that part of the
sales dollar spent for "use of tools." This is an understandable way to designate whatever, money is paid to stockholders or kept in the business for reinvestment or expansion.
tffl -American workers have good tools they turn out good
pwrtlucts at reasonable prices. Without good tools the picture
would be diiferent. A hundred years ago each workman had
only $550 invested for his use in the form of tools. Today
more than 11 times this amount, or about $6,000 worth of
tools, is back of the average American workman in his productive efforts. In terms of purchasing* power, our average
workman's wages have increased aboutfive fold, even though
he works only half as many hours as he did1 then,.
Tools, then, are important to all of us. Where do they come
from? The price of these better tools (sometimes they're expensive tools) has come from people able to save from their
incomes a little surplus to invest. Most of these folks today
are in the income bracket of $5,000 or over. But through life
suranee 'and bank savings, nearly everybody in America
participates in these purchases of tools.
Obviously, we have a high standard of living- partly because of the labor-aiding- tools we have accumulated. That is
fine. But-we must not forget that it is possible for America
to have such national policies, that tool investments are not
forthcoming. In fact,- during 1930 to 1940 when our account
in tools (capital) slipped downward 19.4 per cent we found
that our economy wesj$ backward rather than forward.
Looking at the record^ -\ye see that most of our tools were
accumulated in the generation prior to 1929. .From 1920 to
' 1^?';a*taSLcapitaI •a°we-4 to industry at the average rate of
S^^^^^^^^^Ze^But the years from 1933 to 1945 were
. -^an^^^^^HHMHJ|^lf|^l§|. Period a yearly average of less
^.^^^^PwH^HMk^^P^^- tn.to_jtools for our workers -to
What was the troubIe?Tmfe trouble was that government
had entered the picture and had begun to siphon funds away
from the capital market. Tool money was turned into, taxes.