[...]
The. It wasn't so long ago in the history of man's voids toward a better world
that ships were carrying eager passengers toward the shores of a new
nation that was just in the building.
Our forefathers were constructing the foundation of this nation by interlocking
inseparably the blocks of our political and economic freedom.
The way of life our forefathers established on this foundation of freedom drew
people from the far corners of the earth.
And all those who set foot on these shores had the opportunity
to build a better life for themselves.
Even young Jonathan and unskilled glad from across the sea hope to find a job
where he could progress according to his ability and enterprise.
As the years passed, Jonathan's earnings increased, but he still felt that for
a man of his skill it was about time for another race.
[...]
Bless gravy. Am I not the best crown rounder and brim trimmering your business?
And verily me thinks I'm worth more moolah that you are Jonathan.
I'm sorry lad. No raise Mr.
Bless gravy. I quit.
Sales and profits down fully. I could run you business better myself.
Hey why not my own business. All you need is a little capital
a little push and an idea.
So I said to him I wouldn't wear that hat to a dogfight. Why there
isn't a decent hat in the entire village.
Imagine paying that much for a poke bar.
Why not women's hats. My old business.
Fortunately Jonathan was thrifty enough to keep a
little nest egg for such an emergency.
Well the cost of the building took care of the nest egg.
And there was nothing left to pay for the necessary tools and equipment.
But happily Jonathan had a good reputation and as his idea promised to profit his
friends and neighbors were willing to invest some of
their savings in his new business.
In the nick of time an enterprising chap showed up with
the raw materials to make hats.
And before long Jonathan was open for business. First he had to advertise.
Shop at Boncon at this spot. Twelve new hats out that's a lot. Ladies get that
new hat drill. Thirty days to pay your bill.
As an expert salesman Jonathan demonstrated the superior
style and quality of his product.
He set a price for his creations that the consumer was willing to pay and sales
dollars poured in from satisfied customers.
Jonathan had big dreams of the wonderful rewards
of being in business for himself.
But before he could buy what he wanted his employees wages had to be paid.
He had to pay taxes.
And his friends who helped finance the business had to be
paid a return on their investment.
When all of his bills were paid Jonathan had to exchange his big dream
for a little dream.
Mademoiselle it is the privilege of Alphonse.
Hat style is to all the grand hats of Europe to bring you hats
with style so chic.
The quality manual and the price. So low. Come one
come all to the grand opening.
To meet competition Jonathan had to plow part of his profits back into the
business to develop a better hat.
If customers approve the quality style and price of Jonathan's new designs he
still could make his dreams come true.
With the passing years this strong foundation of freedoms
protected the dignity of the individual and his family.
Gave everyone the right to worship as he pleased. And promised anyone with
ability and enterprise the opportunity to participate in the building of the
American way of life as we know it today.
A way of life that depends upon millions of thrifty Americans who send a portion
of their savings to work in our business system each year.
People from all walks of life workers farmers housewives all of
us send our dollars to work in our business system in the hope of earning
dividends or interest on our investment.
Anyone who has an insurance policy a bank deposit or a share of stock is helping
to finance our business system. A constant stream of savings dollars must flow
into big and small business each year.
These dollars help to buy the land the buildings the tools and equipment
and create new job opportunities for our expanding population.
The goods we produce are distributed to main streets all over the country.
While the main street of today doesn't look much like the main street of
Jonathan's time the principles of our business system remain the same.
The businessmen still compete with one another for the consumers supply of
spendable dollars. And Mrs. Consumer is still mighty
critical of everything she buys.
[...]
The management of every business has a continuing problem to improve their
product to stay ahead of competition or else.
The game and this is it quick chills got the ball we've got to get it back given
that new product play more style better quality new features and at the right
price at the line man let's go.
Micrometer rent file developer flight rule.
In addition to creating a better product management develops new tools and more
efficient method to help workers turn out more boxes to sell at a
price Mrs. Consumer will pay.
The new features about this better product are advertised
point out its competitive advantage.
Magic. With plenty of room for groceries. The automatic.
With the [... ] Just press the button for your right.
A feature that is new and extra space all over the place for other items do in
the automatic [...] see you need a ride away.
Yes dear lady perma freezes
your kind of refrigerator high high quality at a low low
price sales dollars from satisfied customers.
The successful business must have enough sales dollars coming in to enable
management to pay the expenses of doing business such as salaries and wages
materials and supplies research and product development
plant maintenance and repair.
In addition to all of these bills. Management has to pay taxes to local state and
federal governments. Any money that's left over is known as profit wise
management plows part of it back into the business.
The remainder of the profit is paid out as dividend.
The dividends are sent back to investors as a reward for risking their savings in
the American business system. Although occasionally some of
us pick a lemon and have to take a loss.
The constant investment of our savings through good times and bad has enabled our
competitive business system to continue to increase the production of more and
better goods to meet the demands of our rising population
for a better standard of living.
For example it was only a little more than half a century ago that the average
worker had only inefficient tools to help him turn out a product.
Low production meant low wages.
In 1900 many men had to work 10 hours a day six days a week to earn
enough money to provide their families with the bare essentials. Hand labor was
the rule in the home as well as the factory.
In many families the youngsters had to work to add their earnings to the family
budget and forego the opportunity to get an education. And with most families in
those days the standard of living left much to be desired.
A half century later we have invested enough in our business system to provide
the average worker with efficient and expensive buildings and machinery to enable
him to produce enough in a 40 hour week to earn twice as much as the 1900 worker
earned in a 60 hour week.
This shorter work week gives us all more leisure time to enjoy a standard of
living beyond the wildest dreams of anyone who lived a half century ago. The more
we earn the more our families have to spend for the things they need and want.
Young people today have leisure time for fun and enjoy educational opportunities
denied their fathers and grandfathers.
And fortunately we have been able to raise our standard of living without
sacrificing the spiritual side of life which means
so much to the American family.
Our business system has continued to provide a better life for our increasing
population in spite of destructive forces which have pounded against our
foundation of freedoms with no avail.
However wars or the threat of wars interrupt the normal operations of our
competitive business system and may
result in government controls which crack essential blocks
in our foundation of freedoms.
In World War Two wages were controlled.
Many workers were frozen to their jobs farm prices were controlled
and profits of business were limited raw materials
were allocated between essential and non-essential business.
On Main Street USA many of us found less to buy because a good portion of our
productive capacity went to the war effort.
Prices were fixed and the available supply of goods was rationed.
In war emergencies we allow government to restrict certain of our freedoms.
But we Americans have learned to remove government controls as quickly as
possible and to repair the blocks and the foundation of our freedoms to allow our
business system to resume its normal operations.
While we invest part of our savings to help finance the world's most efficient
business system at the same time we pay taxes to government to finance many kinds
of services which also contribute to our way of life.
For example our taxes must provide the necessary funds to improve and
expand our school system.
Our taxes must be sufficient to pay for city streets, help, fire and police
protection and of course aid to the needy.
Our state taxes help pay for highways, educational institutions and among
other things help to finance important experiments to increase the
productivity of our farms.
Our federal taxes pay for irrigation and reclamation projects, for national
parks, postal services, the weather
bureau and many other services.
Our taxes have to pay for the enormous cost of past wars and provide the funds
for a defense program which will ensure the safety of our country.
In addition all of us should be willing to pay whatever taxes are necessary to
enable efficient government to improve or expand any essential service.
But with our present tax load we should avoid pressuring government for any new
services that aren't absolutely necessary because we all know the more our
government provides the more taxes it's forced to collect.
None of us can escape big business,
small business, farmers,
workers.
Our wives and all of us have to pay our share.
Demanding more and more from government could create a tax burden heavy enough to
crack essential blocks in the foundation of our business system.
Therefore we shouldn't let our taxes reach a point where they destroy our
ability to save and invest.
For as we have seen our rising standard of living depends upon a constant flow of
savings dollars into our business system each year.
In the future of our country waves of destructive forces will continue
to batter against our foundation.
When any force weakens the interlocked blocks of our political and economic
freedoms as good citizens we must be quick to use the tools our Constitution
gives us and repair any cracks that may appear.
As long as we keep the foundation of our business system strong we shall be able
to maintain and improve the way of life our
forefathers conceived and established.
A way of life which gave everyone who came to this country the chance to progress
according to his ability and enterprise.
Like the youth of yesterday the young people of today deserve the same
opportunity to earn success and accomplishment.
And on this foundation of freedoms continue to build a better life for themselves
and their fellow man in the world of tomorrow.