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Facts Forum News, Vol. 5, No. 6, June 1956
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Facts Forum. Facts Forum News, Vol. 5, No. 6, June 1956 - File 021. 1956-06. University of Houston Libraries. University of Houston Digital Library. Web. September 19, 2020. https://digital.lib.uh.edu/collection/1352973/item/139/show/90.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum. (1956-06). Facts Forum News, Vol. 5, No. 6, June 1956 - File 021. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/1352973/item/139/show/90

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum, Facts Forum News, Vol. 5, No. 6, June 1956 - File 021, 1956-06, Facts Forum News, 1955-1956, University of Houston Libraries, accessed September 19, 2020, https://digital.lib.uh.edu/collection/1352973/item/139/show/90.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Title Facts Forum News, Vol. 5, No. 6, June 1956
Series Title Facts Forum News
Creator
  • Facts Forum
Publisher Facts Forum
Date June 1956
Language eng
Subject
  • Anti-communist movements
  • Conservatism
  • Politics and government
  • Hunt, H. L.
Place
  • Dallas, Texas
Genre
  • journals (periodicals)
Type
  • Text
Identifier AP2.F146 v. 5 1956; OCLC: 1352973
Collection
  • University of Houston Libraries
  • Facts Forum News
Rights No Copyright - United States
Item Description
Title File 021
Transcript Imagine communism without a name! Repplier proposed that man's newest way of life be called People's Capitalism. Here' is his step-by-step reasoning *hich leads to this conclusion. . Ihe first fact eif life in the' iele'a war ls that this is a struggle' between communism and capitalism. The Commu- nists constantly refer tei it as such, and are not likely to cease. The whole Pody ol Communist doctrine is based "" the premise that capitalism is deca- '"'nt and dying. They constantly main 'ain that capitalism i.s the e'lie'inv they be fighting. Consequently it make's no sense whatever lor our side tei assume that we word "capitalism" will go away if Nve ourselves do not use it. This ostrich aet fools only ourselves. The term capitalism will not anel 'iiiinot go away anil the' seieine-r we ,"'1' that fact the faster we w ill gel on 'Pin the propaganda fight. Nor is the answer to coin a word lor rj1 system, as some' have: "consumer- ,silh lor example. Coined words can Il anel have been successfully intrn- ,llceel into the' language, provided jjej'e is sustained advertising behind I "'"i. lint the taxpayers of America, """-suflci ing though they are, could Y''1 supply a sufficient volume <'l 'Vl'i Using tei popularize a ncwlv- '"""il word in all the world's laii- ^iages j, -me! even if it could be popularized, ommunists would taunt thai il „',s nothing but capitalism in dis guise , hy elo sei many of our propaganda i, lll'i'ts shudder at the word capital- TOl? it lv <,(-iiise throughout much of the (. r'<l it has a most unpleasant odor. teih '""">' °f the world's peoples, capi- fu 'S'"|1 has been no bargain. Under it Shave been acutely miserable, throughout the- Far East, for ex- ,„'' ''- capitalism has usually meant \) ''"pleasant form of colonialism. Po " ''"' l"'"P'(' we're' often ke'pt in s0 Krty while their country's re- fe„7Ces we're' systematically exploited. \-i. §er>eration after generation life ti|n'. Win anel totally devoid of oppor- M">ity. HERE'S THE ANSWER il, n Europe things were he'tle'r. Rut Ojhy0() many European countries ,. ,*'t;i]iv,„ 1,.,.. ,„,...,,,. ,, ,.,,,.*.,,,, i,... 1,(11., Ill, ..111 , , i . , i . , i i , v ii,. i, back that a completely r Hi?^ a 'tw ""'" "ved in great luxun fi,]| e the bulk of the- people hael piti- \(illj little. Cartels and other trade- stf 1 • n,8 Practice's flourished — anil the\ II ■ L' answer to this situation is to Sr)v- "' issue- squarely. Every time the 9gajn Propaganda machine thunders '') tt'sf capitalism, our obvious cue is Sunder r^Fon iii'w kinel eil capitalism heis come about which is neither e-nleinieil nor feudal- istie. Further, thai this dynamic, new capitalism i.s already doing things for its people that under communism have remained e'mpty promises for thirt; -five years. \\ hat elo the Communists say about capitalism? They say that it exploits the people'; that it tneike's the- rich richer anel the poor poorer. Vet what are the twei miraculous facts about our exciting American capitalism (or Canadian capitalism, lor that matter): 1. That the middle income group has grown anel swollen until the segments of very poor and very rich have shrunk almost to the point of extinction. 2. That capital lor expansion eif our system eeime-s not from a very few rich bankers but from the people. Nearly every American either owns life insurance or has money in a savings bank or belongs tei et pension plan, anil much of these funds are invested in industry. Over seven million people own common stocks; often employees are company stockholders. Many unions invest funds in industry. In silent, the' people are the capitalists — a new great phenomenon in the world. In other words, the' chief facts about our new capitalism are' that the' people supply the means for expansion of prosperity and the' people share' the benefits. Our syste'in i.s truly and accu- rately People's Capitalism. And ever) repetition of this phrase describes uni new society. While il may be true' that "people's" heis a sort of Russian sound, like "democracy," "freedom" and other words which we're bequeathed to ns in the founding documents, the word "people's" has been kidnaped by the Russians. Yet iii) word is more' American. The U. S. Constitution begins with "We, the people," and em immortal and inspired definition of our democracy is Abraham Lincoln's "government of the people, by the people, and fe>r the people." OWNERSHIP OF CAPITAL Sherman Adams, The Assistant to The President, said in regard tei capitalism: "While we condemn the system we seek to thwart we should be mindful of the increasing benefits eif the new capitalism we seek to strengthen and preserve. We have actually achieved those' things communism empty-hand- e'ellv promises. We' are literally a nation of middle eleess. lew of us very rich, few eif us very poor, most of ns somewhere in the- middle of the- e-e-ei- nomic road. The- growth of the middle income population heis been enor- mous. The abundance of our land, the leisure tei e'tijeiv it. anil the' opportunity to grow intellectually and culturally are' being shared by more anel more' Americans. It is ironic that this which was Marx's dream should have come about through an evolution of the very syste'in lie- so deeply reviled. "Ownership of the e-ipitetl i.s rapid!) moving into the hands of nieerc and more Americans. The other day the Chairman of the President's Council of Economic Advisers gave me an interesting statistic. Consumer plant and equipment in the possession eef our people, in homes, automobiles and durable household goods, exceeds by one-third the value of all industrial plant anel equipment in the nation. "Because the people supply both the capita] anil receive the- benefit of our increased productivity, what has evolved in America today is truly a People's Capitalism. The Advertising (Continued on Page 63) Sherman Adams, Assistant to The President, and Theodore S. Repplier, Advertising Council president, discuss "People's Capitalism." is »nexi \i: i:ws, jinn hi 1956 Page 19
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