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Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
Jan 11, 1952
Page
4
The nation's steel mills produced 2,089,000 tons in a single week, 4.5 percent above capacity, signaling strong defense and civilian economies. Coal, likened to linemen, fuels steel, with coal supply pivotal as steel output expands. Domestic coal exports reach 36 million tons, twelve times last year's level, underscoring global demand.
The article extols free enterprise and American influence in Saudi Arabia through Aramco. It notes Saudi oil fields producing about 800,000 barrels daily, Aramco supplying capital and expertise, and the government gaining royalties and taxes. It highlights schools, hospitals, and farms funded by Aramco and frames international oil collaboration as elevating living standards and global civilization.
Opinion urges Congress to choose private electric development over government socialism for Niagara Falls. Proponents cite Ernest R. Abrams and Barron’s projections of billions in tax revenues and lower rates under private firms, while critics warn of tax-funded rates under public power.
The Oregon Voter accuses Secretary of the Interior Oscar Chapman of seeking near total control over U S water power. It cites cases blocking new FPC licensed projects and warns of federal monopoly hurting states cities cooperatives and private utilities. The piece argues the push would erode local rights and replace enterprise with state socialism.
Life magazine’s picture story shows a U S family of four amid vast food purchases totaling two and a half tons yearly. The piece argues a free enterprise system yields strong production and broad access to varied goods despite critics calling for more government control.
Economic highlights warn that 1951 tax changes hit individuals in the last two months and full-year 1952 rates will apply. The Chamber of Commerce notes government takes about one third of national income, with rich are few and many tax burdens fall on lower incomes. corporate rates have climbed to 70 percent including excess profits taxes. Senator George cautions there is no fixed tax take limit, only the point where incentives fail and evasion rises.
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