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Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
Aug 19, 1949
Page
4
The piece traces how gasoline emerged from a kerosene by product, its odor and market rejection, and how refining advances removed the smell and boosted demand for cars. It notes ongoing production challenges and a cleantech response that improved quality and lowered costs, fueling American industry.
A reader argues that British Labour aims to cut consumer prices by reducing production and distribution costs and expanding modern retailing while strengthening state influence over marketing and purchasing. The piece contends government involvement would erode the efficient, competitive retail system already delivering lower prices and better service.
Analysis of a major steel firm's 47 year operation shows total gross income of 44 billion dollars. Of this, 41.4 percent paid to suppliers, 37.2 percent to payroll, 6.7 percent to depreciation, 6.4 percent to taxes, and 8.3 percent to stockholders. One third of the shareholder portion funds new tools. Capital with savings from many people works for a modest wage.
Late in July the Senate Banking and Currency Committee began hearings on labor organizations dominating the coal industry and other sectors. The inquiry aims to decide if public protection is needed from labor monopolies akin to protections against industrial monopolies, amid strikes, three day weeks, and shipping disruptions. The public is urged to express views to representatives in Congress on this issue.
A Senate Appropriations Committee report disapproved four proposed federal power facility projects, urging reliance on private utilities under government contracts like the Southwestern Power Administration Texas agreement. The plan aims to avoid subsidized competition, reduce tax-exempt government influence, and prevent wasteful public-building cycles, though critics say the move is only a partial step and draws hysterical reactions.
The speaker warns that activists aim to push through extensive appropriations and other measures to ruin private enterprise and local electrical authority. The public, funding these moves, will bear higher taxes and lose local control.
Dorothy Thompson argues in a column that socialism harms nations by confiscating profits and harming production costs. She contends socialist plans raise costs, suppress capital, and inflate government expenses, citing Britain’s nationalized industries and universal health schemes as costly failures. The piece defends profit, noting high wages and living standards arose under it and criticizes socialism’s supposed welfare gains.
Local governments face rising costs for roads fire protection police and services while the federal share of taxes grows. The shift prompts triple taxation in some areas and fuels debate in Congress over Truman programs social security farm price supports and military spending amid Hoover Commission calls for reform.
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