The Clinton chronicle. (Clinton, S.C.) 1901-current, May 21, 1959, Image 17
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17
• Free Enterprise ** *"
The Intellectuals ^
BY HVUSM4N HFNKIX.
Kt«««llT* Vlct.l
Malw I
A SouUmtb tcholar h«* pto-pointed
the KreatMt weaknaaa of capitalism
today. It ia a weakness that must
be corrected If the United States is
to enjoy a free economy and a free
society in the years ahead.
Dr Calvin B. Hoover, of Duke
University, in his study, The Econ
omy, Liberty and the State,” pu»s
this way
‘‘The greatest weakness of modern
capitalism is its lack of support
among a large part of the intelli
gentsia. Their failure to support it
renders the system vulnerable to re
placement by a substitute system
through parliamentary or revolu-
tuals. Dr Hwver says that the pro
feasor, aad writers thtak of the l»-
temts of the public and of the cap
italist as being fundamentally in
conflict, 'intellectuals." he says.'
generally do not accept the propo.
sit ion that the alternative to capital
istic organisation and direction of
production through the market ia
administration of the economy by a
heirarchical burea'icracy." In other
words, socialism.
Many people do not see the con
nection between the success of the
free enterprise system and their
own livelihood. Take college profes
sors, for instance Do they, general,
ly, realize that their very salaries
depend upon profits from private
enterprise—if in state institutions
*A5»IHG t OS a
'•SMALL BUSINESS”
America!
living that amy
B . C WILSON HABDf «
tunny and mdivtdaa
that eunta m
the fianat ktad of
knew* Free
justice.
I liberty
they urge a
Thu ia a trade
American buameMmen
must take rare to correct Thane in.
teOectuals who knowingly seek to
undermine a free society deserve a
rebuke But thone who are simply
unaware of the alternative to free
enterprise — totalitarian socialism-
should be helped to a better under
standing They need to learn that no
other economy is so basically just
as a free economy.
An old complaint regarding ac
ademic life is that intellectuals livej
in an ivory tower remote from the
real problems of people and the
world. No doubt there is consider
able truth in this charge. But is
H. D. Payne & Co,
CUWTON. i.e
PHOSr J7t
Mm,
‘nngress
Is going tat bar* to
steps in the labor situation.
a • a
Fer aome month* now the
mtttee hiwdrg by fteo. MH’tellaa
has hera brlnfiag forth gHrloo-
nres In the operation af unions
that rival tar
brutality and
arrogance any-
thing that took,
place in any
era of record-,
ed history.
• oo
In addition,
in several in
stances the
Justice Dept,
is seeking to
C. W. Harder
apply the nation's anti trust laws
to labor unions where there is
some suspicion they have com
bined with predatory employers
to stifle competition.
« * o
But perhaps the most signifi
cant trend in Big Labor’s con
stant drive for greater economic
and political power Is the an-
nounced determination by the A.
F. L.-C. I. O. Executive Council
to put union representatives on
the Federal Reserve Board and
on the board of each of the twelve
regional Federal Reserve Banks.
0 0 0
As is generally known, the Fed
eral Reserve Board of Governors
is perhaps the most influential
group in the national economic
picture, as it is their decisions
on discount rates, margin and
reserve requirements which reg
ulates the supply of money.
0 0 0
Obviously, the Federal Reserve
Board is just the place far a
fellow like Have Beck, Hoffa.
aad oome of the other hoys with
the MK lellaa committee
o o o
The Big Labor group charge*'
that the Federal Reserve B ard
Is dominated by banker* Now
this perhaps mav be a mistake
While bankers may
thhta about money, they are not
too familiar with operating sec
ondary boycotts, throwing up a
picket line around a place of
business on short notice, or even
the mechanics of collect mg dues
by compelling employers to de^
duct them from the checks of
the workers.
• • • *,
Tim*. H Is easy to see that the
members of the Federal Reserve
Board need new faces.
• • •
And with,union leaders on all
twelve of the boards of the re
gional Federal Reserve Banks
there could undoubtedly spring
into being some spirited jurisdic
tional fights between regions
which might not do anything to
stabilize the dollar, but it would
make headlines.
• • •
But the mere fact that by for
mal resolution Big Labor would
announce this goal as a serious
aim is a very serious indication
of how far labor is trying to go in
drive to dominate the U. S.
• • •
And there is no doubt that the
leaders of Big Labor will gain
some support, both in and out
of Congress.
• • a
There is no end to this line of
attack. It Is just as logical to de
mand a certain number of the
Justices in the United States Su
preme Court he picked from
ranks of union walking delegates.
• • •
And while the working man
undeniably has his right to the
protective benefits of collective
bargaining, the entire nation
and its institutions cannot be
come permeated with the one
sided philosophies of Big Labor,
a a a
It I* going to take ta the
month* and years ahead, a great
deal of orgaaiaed hoatafs •pin
ion and work to keep labor from
l ah tag aver, to toto. the ewltre
< owdnrl «f the failed Matos It
roaM he already
thaa an;
SCIATm MF NOT
WITH m u MI NOT
Apply inn WF NOT la IS mia
Met, if the itch needs scratcblag.
get ysar Me hack. Ya« feel the Med
kalian take hold to quiet the Itch
ia minute*; watch healthy, clear
*kla come aa. Get ITCH MF-NOT
from aay druggist for external skin
irritations. NOW at Youngs Phar-
macy. 3t.2i
FINAI SFTTIJiMRNT
Take notice that on the Bih day of
June 1B0B. 1 will render a final ac
count of my arts and doings as Ex
ecutor of the estate of Dora N Nor
rut. in the.office of the Judge of Pro
bate of toaurens County, at 10
o clock a m and on the same day
will apply for a final discharge from
my trust af*-F\ecutor
Any person indented to said estate
is notified and required to make
payment am ar before that date, aad
all persons hating claims against
said estate will present them on or
before said date, duly proven, or be
forever barred
JOHN F NORRIS
Executor
May a. 195» 4c J-5
IF YOU DO ITT RRAD
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