Net Worth; Gross Habit

HELLO FOLKS! — I've heard that a man's net income is in direct proportion to his gross habit.

—o—

Public Law 480 has sometimes been titled "a give-away program" because only a small percentage of the value of the products sold actually returns to the U. S. in immediate cash. I believe the figure is about 3 per cent.

The amount that is not returned in trade is used up by our foreign embassies for their operation expenses, returned as a loan or just held in suspension.

This is not exactly an ideal situation, but under the circumstances it is the only answer to the problem of marketing our surpluses and the needy countries to get food for their people.

In order for Japan to buy food she has to sell her finished products. We have import restrictions that prohibit her from selling to us the amount of products necessary for her to buy needed food. Trade is necessary for the economic life of us both.

If the american farmer cannot sell his surplus food he is placed at disparity with the rest of the economy. The inevitable result of such a situation is an economic tail spin such as occurred in the early 30's. For if the farmer cannot buy the things he needs the whole economy suffers too.

We are draining our economic wealth paying for the storing commodities that should be in world trade. If we fail to move these and generate new wealth into the economy the inevitable happens. The same is true for other countries with exportable items. The ideal situation would be a gradual lowering of nearly all trade barriers.

True, we would be in open competition with foreign industries, but the wealth generated would more than make up for the original loss sustained.

However until the public becomes aware of these economic facts Public Law 480 is a must and is necessary. It benefits the U. S. and the other countries involved. It is not a give away program. It is an aid program.

—o—

You have all heard about the train that runs through the middle of the house. Well, the author of that song has nothing on us. We have got a boy here that has a mania for trains and bridges. So we generally have a train in the middle of our house.

Randy got a book for Christmas entitled "The Little Red Caboose". He knows it word for word, and for a long time it was his companion at night.

The book is still readable although there is more cost in the glue, Scotch tape and cloth that had been used for repairs than the book cost originally.