Motion Picture Herald (Apr-Jun 1931)

8 MOTION PICTURE HERALD June 13, 1931 "The real Wealth of a Teople is not in the Strong "Boxes but in its Quts! " will h. hays ^ N ringing words of exhortation to confidence and courage IVill H. Hays, president of the Motion Picture Producers and Distributors of America, Inc.., addressed an audience of the governors of twenty-two states, gathered in conference at French Lick, Indiana, last week. Mr. Hays put an unwonted fervor and pungency into his words, striking out at the timidity of capital, today '"''skulking in non-productive areas. " // was an utterance delivered with the zeal of a son of Indiana with his feet firm on his native soil and with the earnestness of deep conviction achieved by observation and experience. Mr. Hays' utterance is receiving wide attention in the daily press. THE EDITOR French Lick, Ind. Following is the text of Will H. Hays' address before the meeting of governors of twenty-two states : In the earlier days of this hotel, the distinguished owner overheard a customer order a beefsteak three inches thick, tender, ripe, bursting with juice, broiled to a golden brown and rare all through, lightly kissed with spring onions and caressed by a dab of sweet butter. Interrupting the customer, the owner observed: "My dear sir, if we could turn out a steak like that in this house, I'd eat it myself." The analogy is obvious between this anecdote and any individual's ability to offer a complete and practical solution for present conditions. If I could tell you how to start hay-making, I'd be doing it myself. I am still young enough to believe in rainbows, and yet old enough to remember the pots of gold that have rewarded all the greater American industries and promotions that subscribe to the elder Morgan's creed, "Don't sell America short." My boyhood vividly recalls the graphic narratives of veterans who participated In the first and second battles of Bull Run. But I did not think I would ever witness a third Bull Run, destined to pass into hls WILL H. HAYS tory as the most shameful exhibit of financial leadership that the country has ever witnessed. AAA For the first time in our record, the stewards of popular opinion have totally repudiated the great commanders under whom we have smashed every obstacle and conquered the bitterest circumstances — General Confidence and General Enthusiasm— and enlisted in the ranks of General Doubt. God Almighty can't help a community which has ceased to believe in Itself. The real wealth of a people is not in the strong boxes, but In Its guts. All the billions on earth are impotent in the hands of folk ready to admit that yesterday was bigger than tomorrow, or that predecessor intelligence exceeded contemporary capacity. All capital now skulking in non-productive areas is an ingrate to the opportunity which bred it, and a distruster of America's destiny. While the field marshals of American finance and industry continue to dollar-doubt that we shall steadily continue to advance and expand, ^mass opinion will remain In its pessimistic present attitude and national saving and spending will be inspired by their sneers at optimism and their fears for the future. With all due respect to the executives of the twenty-two commonwealths here tonight, the most Important state Is not officially represented in this assemblage. It is marked on no map and has no boundary lines — it is the optimistic state of mind. And without its concurrence, your twentytwo states and the remainder of the fortyeight can do little to improve conditions. There has been a lot of faulty cement which has cracked and there have been many weak timbers which have broken In our structure since 1929 — but our knowledge of construction and repair Is all that is necessary to rebuild the structure which v/e thought we had. We have more ready cash than any kingdom or republic ever possessed, our working plant Is Intact, our natural resources are unimpaired — but we have lost faith, and until we recover it and resume our march under Its banner, watch prices fall, see machinery stall, and hear Wall street bawl. AAA And the first spot where the banners of faith must be raised Is over capital. As long as our billions are held in restraint, dammed at the source, prosperity will keep gnawing the hambone. Labor must have the same purchasing wage and labor must have the same comfort capacity, and money must work and must work for proper wages. Business isn't getting any of the 1 per cent money that the newspapers are talking about. In many places the only security that can write a note today is a listed stock exchange security. In many places business is at a standstill because there Is no mortgage money. In too many places character loans simply are not. America wasn't built that way — Its expansion program was not conducted under any such system of finance and its further progress must be stalled under such a system of finance. Depression can not afford present costs of federal administration or state government; it can't afford national, state, county or municipal costs any more than it can afford the idleness and reduced spending for which Uncle Sam and his forty-eight daughters are as much to blame as any one else. AAA A definite help In business revival has been rendered by governors and legislatures in making their major purpose the efficiency of the business administration of their own state government. Much of the discussion of the last few years arguing for more efficient and economic public administration is being translated Into action and into legislation for the definite betterment of the business of state government. The federal government is wisely showing business that it can cut expenses legitimately ( Continued on page 27)