LOOKING
AHEAD
GEORGE S. BJENSON
President—Warding College
Searcy. Arkansas
"CAPITALISM"
ISN'T A BAD WORD
Recently a rather prominent
person, writing in one of the top
quality magazines, suggested that
America should discard the word
“capitalism” and the term “pri
vate enterprise” to describe our
economic system. His theory was
that in their present general usage
the terms had become unsavory
and therefore harmful to the
goal of better world understand
ing. In effect he was bowing to
the power of Socialist and Com
munist propaganda which has
worked cunningly for many years
to create such confusion in words
and terms that our own people
would drop our own terms and
slogans and peddle theirs.
The meaning of “capitalism”
and “private enterprise” canncrt.
be changed unless we want to tear
up our dictionaries and create a
new language. Since the origin of
the English language the word
“capital,” in its economic sense,
has meant money or an aggregate j
of goods with which to promote i
the production of other goods or
services. “Capital” is money or
property at work!
You're A Capitalist
If you’ve got a steady $50 bal
ance in your checking account at
the bank, or a $50 balance in
your savings account, it’s “money
in the bank.” If you use it to
make or buy Christmas cards for
your son to sell door»to-door you
are practicing the philosophy of
“capitalism” and you’re a ’’cap
italist.” If you do not use it, the
bank wjfl—it will loan your $50
out to businesses and corpora
tionss. Thus the bank is practic
ing “capitalism” with your “capi
tal.” And again you are a “capi
talist.” .
But don’t blush with shame
over being a capitalist. Most Am
ericans are, in a small way, pro
viding capital which in some
manner is going into the stream
a{ American business and com
merce to keep our economy alive,
and dynamic, and progressive.
Managing your life so well that
you can put some of your earn
ings to work as “capital,” direct
ly or indirectly, is the attribute
that has built the foundation for
American progress. And it has
done more for the improvement
of the economic welfare of the
human race than anything I can
think of.
The Mechanism
“Capitalism” is an economic
philosophy — a doctrine, or con
cept, or principle for using avail
able money or property in pro
ductive work to replenish and ex
Rosenbergs Appeal To
President Truman To
Save Their Lives
WASHINGTON, UP)—Julius and
Ethel Rosenberg, the convicted
atom spies, appealed to President
Truman Saturday to spare their
lives.
They have been sentenced to
die in the electric chair at New
York’s Sing Sing prison next
Wednesday, for conspiring to give
atom secrets to Russia.
Federal Judge Irving R. Kauf
man of New York had given them
until Saturday to file petition. He
said its filing would automatical
ly mean a stay of execution until
jfive days after the President an
nounces his decision on the clem
ency appeal.
A Justice Department official
said the appeal goes now to the
department’s pardon attorneys
who will review the whole case.
Rosenberg, 34, and his wife
Ethel, 36, were convicted March
29, 1951 of conspiring to turn
America’s atom bomb secrets
over to Russia.
pand, to reproduce wealth and
goods. The “Private Enterprise
System” is the mechanism thru
which “capitalism” operates ii\
our country. Webster describes it
as an economic setup “in which
the ownership of land and nat
ural wealth, the production, dis
tribution, and exchange of goods,
and the operation of the system
itself are affected by private en
terprise and control under com
petitive conditions.”
“Capitalism” in its purest
sense does not necessarily estab
lish the right of private property,
or private ownership. The pri
vate enterprise system does. Pri
vate property is the keystone of
the system. In my opinion the
right of private property is the
one mighty pillar that supports
the house we all live in in Amer
ica, our way of life, the very
freedom that permits us to grow
in moral, physical, material, men
tal and spiritual stature.
f-\
GLUE POT
*SODA
FOUNTAIN
FRESH ICE CREAM
-DAILY
CANDY
AND
FRESH POPCORN
CIGARS, ClGARETS
TOBACCO
*
THE NOME LIQUOR STORE
WE CARRY A LARGE ASSORTMENT OF
FINE LIQUORS, BEER AND WINE
Out-of-Town Orders Carefully Handled
FOR THE BEST SOFT WATER
— AND DEPENDABLE SERVICE —
Pioneer Water Delivery - Main 24
Start your season off Right and let Us service your homes !
— We will assume City Sales Tax —
Alaska Press Club Awards
For Excellence Made to
Working Press and Radio
ANCHORAGE, UR — Outstand
ing performance by members of
the working press and radio in
Alaska was given recognition on
Thursday night when annual Al
aska Press Club awards were pre
sented at a dinner at the Forest
Park country club.
William Warner, club president,
awarded the certificates, explain
ing that annual honors were to
encourage “professional excel
lence” and help give accurate pic
tures of the territory to the out
side world.
Del Day, manager of radio sta
tion KJNO at Juneau, for an alert
on-the-spot broadcast of the sink
ing of the S.S. Kathleen in Sep
tember.
Gov. Ernest Gruening for his
“Report to the People” series of
broadcasts which acquainted the
territory’s citizens with “history,
progress, and developments in
Alaska.”
Robert B. Atwood, editor and
publisher of the Anchorage Times,
for “editorial development of the
Susitna land withdrawal, for alert
treatment of changes in the Wash
ington scene as they affect the
cause of statehood and Alaska in
general.”
Fairbanks Daily News Miner,
for its Progress Edition, showing
development of a community.
The Nov. 13 edition set a new
standard for special editions in
Alaska, the award stated.
Jim Doughit of the News Miner
for news and photo coverage of
the Pioneer Hotel fire and of a
moose that sauntered through
Fairbanks streets.
One non - Alaskan to receive
press honors was R. L. Ruffus,
editorial chief for the New York
Times, for accurate, factual re
porting and interpretation of the
Alaskan scene in an outside pub
lication.
WEATHER FORECAST
Compiled by tbe
U.S. Dept, of Commerce Weather Bureau
Continued clear and cold to
night and Tuesday. North winds
15-20 mph. Lowest temperaure
expected tonight 2, high tomor
row 5.
Nome data last 24 hours as of
7 a.m. today: High temperature
10, low 0. Max. wind 22 mph from
the NNE. Sunrise at 9:39 a.m.,
sunset at 2:41 p.m.
Temperatures a year ago' today:
high 5, low -9. Extremes this date
since 1907: highest 34 in 1944,
lowest -27 in 1947.
Other stations, 7 a.m. today:
Station Temp. Weather
Barrow -17 Clear
Kotzebue -6 Clear
Wales 1 Clear'
Gambell 4 Cloudy
Nome 5 Clear
Unalakleet -2 Clear
Bethel -7 Clear
McGrath -12 Part cloudy
Anchorage 7 Cloudy
Fairbanks -39 Clear
Seattle 51 Clear
Fine Job Printing at the Nugget
IKE AGREES FEDERAL JOBS
TO BE CLEARED IN CONGRESS
NEW YORK, 0T1 —Senate GOP
leaders said President-elect Eisen
hower “fully agreed” Monday to
clear all federal appointive jobs
in the future with Republican
members of Congress.
Sen. Taft of Ohio, the Senate
majority leader said Eisenhower’s
agreement to do this represented
“no reversal” of policy on his
part. But the Ohioan added that
the arrangement had helped to
dispell confusion regarding the
handling of job patronage.
i
i;
______.
1 »
i
|»
[
| . *
j •
!
i
I
j
!
■