The Seminole Sentinel (Seminole, Tex.), Vol. 46, No. 3, Ed. 1 Thursday, December 18, 1952 Page: 4 of 16
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SEMINOLE 8ENTIXEL
DECEMBER IS. 1M2
Looking Ahead-With Geo. S. Benson
GOOD FOB THE COt VTKV Arkansas' 2nd District addressed
Conpwsaaa Wilbur Mills, of our Kiwanis Club las; week and
tl
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KVIRYTHINO fOR TMI BUIL3CR
he put his finger on an economic
problem which couid cause great
hardship the problem of unem-
ployment which he forsees when
the huge government expendi-
tures for armaments slacken oil.
He is one of our best informed
Congressmen on fiscal affairs
due to his long service on the
House Ways and Means Com
mittee. He frankly said he didn't
have a quick and easy solution
to offer for the problem.
Sometime in 1954. Congress-
man Mills observed, a substantial
portion of the nation's steel pro-
duction which now is going into
armaments will be available for
civilian markets will not have
sufficient demand to keep the
steel mills operating at full ca-
pacity as they are now doing.
Thus some of the steel mills will
| be obliged to cut their work
: force. Such unemployment in the
I basic steel industry couid be dan-
; gerous to our economy if it
• should spread to other areas of
I the business world, the Congress-
; man reasons.
Steel for Armament*
At the present time 50 per
cent of the nation's record-break-
i ing steel production is going into
I the armament program. Steel
j production has been expanding
i gradually as needed over the past
| 50 years. The rate of expansion
j was sharply increased during
j World War II. A number of
| companies continued normal ex
I pansion after the war. Then came
I the Korean war. and expansion
j again was speeded up.
Some government executives
j and economists have constantly
demanded a bigger expansion in
the steel industry- than has oc-
curred. even threatening to build
government steel plants. Steel
industry leaders have resisted
the "splurge" type of expansion,
warning that it could lead to a
far greater capacity than the na-
tion normally could use. Their
advice to the government arma-
ment bosses was to rut down on
the volume of steei going into
civilian channels, when war pro-
duction is really urgent instead
of rushing through production j
expansion that m'ght soon be-j
come idle and thus pose an eco-
nomic problem. It was sound ad-
vice.
Nwd Gradual Reduction
We certainly could expect an
economic recession of dangerous
potential if the entire multi-bil-j
lion defense spending were to
end ail at once next January, or
the next. As Congressman Mills
pointed out, about S6 billion of
the present SSO billion Federal
budget is being spent oft the
Korean war and about S50 billion
on getting ready for any possible
future war. With such vast
amounts in circulation everybody
temporarily benefits. If such;
spending were to be suddenly i
cut off commerce would be stag-
gered and everybody would feel
the result.
On the other hand if the big
government spending could be
reduced gradually over a period
I of years the transition from a
war production economy to a
peacetime one shouldn't cause a
drastic change in the economy.
We would feel it—yes. Money
wouldn't be quite so plentiful.
There would likely be some
j temporary unemployment and
business dislocations. But if gov-
eminent under the new adminis-
tration would give solid encour-
agement to private enterprise,
| and thus establish a promising
i outlook for anyone who wants
| to go into business or expand
his present business, any slack
j in progress would be short lived.
; The economy as a whole would
| very soon be sounder and more
I dynamic than it has been in
' many years,
A Good Goal
Government in America today
I is spending more than 32 per
I cent of all the money being
spent. It thus is an overwhelm-
| inglv decisive force in the com-
merce of our country. In 1930
| less than 5 per cent of all money
. being spent was being spent by
j the Federal government and only
j about 12 per cent by county.
' state, and Federal governments
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that -
serve
you
0*W (laa-lWO) pioneered
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antiknock (as. broke foreign
monopoly of bleach and dye
chemicals; developed and patented
Dcwmetals and techniques for
producing magnesium structural
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shoestring Today Dow Chemical
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carloads of
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deliver 800
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'patents make fobs'
by MATtOKM COUNCH Oar,
Cpl. w. 0. Sturdivant
Xmas Shopping, On
Leave From Korea
With The Second Infantry D1
( vision In Korea Army Cpl.
William O. Sturdivant, son of Mr.
and Mrs. Fred E. Sturdivant, Sea-
graves, recently had an oppor-
tunity to catch up on his Christ-
mas shopping in Japan while on
a five-day rest and recuperation
leave from the 2nd Infantry Di-
vision in Korea.
The vacation is part of the
Army's policy to give front-line
soldiers respite from combat. At
the same time soldiers at the "R
and R" hotels have been afford-
ed opportunities to visit the well-
stocked Army stores 'Post Ex-
changes; established for their
convenience and holiday shop-
, Two popular radio personali-
ties, Fred Waring and Perry
Como, have donated their record-
ing* of the popular song, "One
Little Candle," to the 1952 Christ-
mas Seal Sale.
I
ping. Packaging and mailing
| services are set up at most of
| these centers.
Cpl. Sturdivant Joined the 2nd
! Division last April and is serving
i as a wlreman in the unit. He
j entered the Army in March 19|j.
% Relieve
Marry of
C"I666
>
combined. Ir. 1940 about 11 per
cent of the national income was
being spent by the Federal gov-
ernment and about 20 per cent
by all three levels.
In some of the periods of this
nation's soundest progress gov-
ernment at all levels sper.t less
than 10 per cent of the national
income. That's a goal "that we
the people of America might well
seek — whittling government
down to a point where in normal:
times, its expenditures do not ex-
ceed 10 per cent of the national
income, 10 cents out of every
dollar we earn. And the time
to start whittling is now. We
might not reach the 10 per cent
goal but every step of the way
would be good for the country.
When Buying or Selling Property
-SEE-
TED SCHULER
McGINTY-STEPHENS BUILDING
114 Ave. B SE Phone 2165
iuum-mp^uuuuuuuiJULaJuuMuu1
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SEMINOLE, TEXAS .
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The Seminole Sentinel (Seminole, Tex.), Vol. 46, No. 3, Ed. 1 Thursday, December 18, 1952, newspaper, December 18, 1952; Seminole, Texas. (https://texashistory.unt.edu/ark:/67531/metapth412424/m1/4/?q=music: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Gaines County Library.