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BEST BROADCASTS OF 1938-39
politics. Through the centuries people have been afraid of anyone’s getting control of too much land, the basic resotirce of an agricultural civilization. The same instinct bids us now to keep power companies from getting too much of the nation’s electric energy, because this is a basic resource of the coming industrial civilization.
This is the point where Mr. Willkie has his difficulties with the government. Mr. Willkie is a good operator . . . especially with the TV A alongside of him to strengthen his resolve to be good. But Mr. Willkie represents control of utility systems in six states through one great holding company. It is the democratic instinct of otir people that arises in the holding company law. People would feel more comfortable if Mr. Willkie could control only two or three states. That simple illustration is typical of many of the contests between concentrated controls of business and popular government.
We have no present substitute for a system of private enterprise motivated by private profit, whatever its defects. To my practical mind, our job is to make the system that is here work. It will take all the strength and intelligence of both business and government to make it work under existing foreign and domestic stresses.
But the businessman asks, “Are there not risks in departing from old policies?” Yes, risk is the condition of winning, and consider the risks you take in not changing. Covmt the cost of not doing it against the cost of doing it. Business needs protection from stagnation far more than from adventure. Remember, the tax collector has to be most busy when industry is idle, in order to complete the circle with tax funds. We must reform to conserve.
Mr. Willkie was one of the pioneers . . . stimulated no doubt by a little competition from TVA ... in the adoption of a low price, high volume basis for his industry. He ventured and it paid.
Business should get over thinking about men in public life as being different from themselves. There are dumb plays in government, matched by some in business. There is waste and incompetence in government, but get any banker’s opinion, privately expressed, of some of his debtor’s operations. I have seen politics interfere with administrative
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