PAGE EIGHT
'—SECTION TWO
The National Outlook
The Problem Os Foreign Competition j
By Ralph Robey
LL , _ J
More and more American busi
nesses are being hurt, many of
them seriously, by foreign com
petition. It is not only individ
ual firms that are feeling the
pressure, but industries as a
whole. And all of this adds to
the broader and growing prob
lem of our unfavorable balance
of international payments.
Wage Differential
Nothing New
The most commonly offered
explanation of this mounting
competition is that foreign wages
are lower than American wages.
The basic shortcoming of this
explanation is that foreign wages
always have been below those
paid in this nation. In the past
we offset lower foreign wages
by better machines and more
output per manhour. . In a grow
ing number of lines this no
longer is possible.
The reason it is not possible is
that over the past several years
we have been determined to help
in the reconstruction of the eco
nomic system of foreign nations.
In carrying out this objective we
have provided our competitors,
either directly or indirectly, ma
chines of the most modern type
and have helped train foreign
workers and management to op
erate these machines.
In some instances, too, we I
have compounded the difficulty
of our own products by selling
the raw material at bargain pric
es. Cotton is a perfect exam
ple. As part of our farm sur
plus disposal program, we have
been selling cotton to foreign j
nations at appreciably below the'
domestic price. Our textile mills j
therefore, find themselves faced
with the output of foreign pro
ducers who not only pay much
lower wages, and have just as
modern machinery, but get their
raw material at well below the
American cost.
For some time after we start
ed this rehabilitation program,
foreign competition, except in a
few items, was not too aggres
sive because foreign nations
needed everything they could
produce for their own growth.
However, as their recovery pro
gressed they had more than they
needed, and automatically looked
for markets abroad.
In spite of the growing volume |
of imports we still are selling
more goods abroad than we are
buying. But that is only part '■
of the total international bal-1
ance. To it must be added about!
$3 billion of military spending
abroad, some $2 V 2 billion of for-!
eign aid, and at least $2 billion j
of private investment in foreign 1
nations. Taking all of this to
gether, we find we have a defi-1
cit in our international balance |
of payments of some $4 to $4 1 ■< '
billions.
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Foreign Balances Continue
Growing
Some of this over-all deficit
is met by the shipment of gold
and some by the accumulation of
balances in this country. Up to
the present there has been no
evidence of a “flight from the
dollar” by the holders of these
balances, and there is no rea
son today to assume that such
a flight will develop. None the
less, with foreign balances of
approximately sls billion, we
cannot sit idle and let them con
tinue to grow.
How can we meet the grow
ing foreign competition and
eliminate the international bal
ance of payments deficit?
This is an extremely difficult
question, but we shall attempt
to answer it next week.
1 SUNDAY SCHOOL ]
LESSON
Cont'd. from Page 6—Section 2
fact of our faith which says God
is the creator and sustainer of
the universe, then we are forced
to accept also the fact that he is
the owner of all its resources
and man is but the steward of
these possessions. They are giv
en to us in trust, and we are
required to- use them in terms
of Christian stewardship. Thus,
none can seek to own them all,
nor force another person to be
satisfied with less than his share
of God-given resources.
Today we have community
programs of mutual aid. Things;
few could ever do as individuals I
alone are done because we share,
the process and cost of efficiently!
meeting community needs. Our
program 0 f foreign aid is so of
ten criticized. And yet, it be
comes for meeting the concerns
we have for people who are un
derprivileged in other sections of
the world.
Life calls us to share our time
and our talents with others.
From our very first day in the
world, we have inherited a pat
tern in which others share with
us. As adults we can realize
now what it meant for our par
ents to sacrifice for us. And we
can also understand why they
were so willing to do whatever
was needed. These were labors
of love and were given with no
thought of personal return or re
ward. The true labor of love
brings its own reward in the;
mutual sharing which love
brings into human experience.
Love soon learns that the natural
giving of self is to receive far
more in return than one has giv
en. Jesus knew life well. That
is why he taught that the per
son who is anxious to save his
THE CHOWAN HERALD. EPENTON. NORTH CAROLINA. THURSDAY. OCTOBER 15, 1959.
own life v/ili thereby lose it, and
' —paradoxically—the person who
willingly gives up his own life
for another thereby has saved
his life.
The person who gives go un
stintingly of his time to the
Church gets back far more than
he gives. The joy which comes
into the life of youngsters who
learn the way of Christ is ample
reward for the long process of
study and preparation for teach
ing in the Sunday School, or for
those evenings spent with com
mittees, councils, and meetings of
the Youth Fellowship, which are
essential for the auuU w'lo serves
youth. The public school teach
er has a reward that few other
professions know—he sees ideas
planted in eager minds that
grow up and blossom and bring
the youths nearer to maturity.
All these are examples of shar
ing that bring their own reward
in the intangible satisfactions of
life. When we share our faith
with others, a miracle takes
place—a miracle of love and un
derstanding, of strength and of
healing.
(These comments are based on
outlines of the International Sun
day School Lessons, copyrighted
by the International Council of
Religious Education, and used by
permission).
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PHONK 3839 EDKNTON
Weekly Devotional !
Column i
By JAMES MacnfiNZlE (
Following is a statement by
Dr. Carl Mclntire, president of
the International Council of
Christian Churches:
“Nikita Khrushchev’s use and
I perversion of the Bible consti
tuted one of the most amazing
spectacles in his United States
visit. In Los Angeles, he quoted
the Ten Commandments. In San
Francisco he s id communism
had adopted principles taught by
Christ. In Des Moines he claim
ed God was on his side. In
Washington .he offered Christ’s 1
example in driving money chang
ers from the Temple to prove
He (Christ) was against c pi
talism, and claimed there was
full religious freedom and free
dom of conscience in Russia.
This use on the part of the athe
istic Kremlin dictator of the Bi
ble, the name of Christ, the Ten
Commandments, in his propagan
da barrage against the West
should be challenged from every
'Christian pulpit.
The line which he offered the
American people is the one
which is being preached by
communist controlled churches j
behind the Iron Curtain. The
secret police who are running
these churches have been using
them as instruments of the cold'
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war, just as Khrushchev used
this line on the American soil.
There is not anything in the
Bible which supports the repudi
ation of God and the materialis
tic, socialistic ordering of socie
ty where man is the property of
the State. The Bible denounces
wickedness and sin in the stern
est terms, and especially the
acts which Nikita Khrushchev
has committed- It is the moral
standard of the Word cf God
that requires our rejection of
this system of slavery. It is
Christianity that presents the
living and true God, a personal
Saviour from sin in (he Lord
Jesus Christ, the* responsibility
of the individual to God, the
right of the individual 'to own j
property, and to be personally j
responsible for his endeavors
under God.
Khrushchev’s propaganda is'
the most direct challenge of all
Christianity represents that the
Western world has had to face.
It must be faced with deep con
viction, courage, and a militant
crusade in behalf cf the con-.
cepts of inlividual freedom.
While we have offended j
Khrushchev by d's flaying . the
immodest scenes of a sequence!
from a Hollywood motion pie-1
ture, which he has justly de- 1
nounced as immoral, we have'
not been willing to let him hear |
us call upon God to bless the!
food we eat. I
Altnough it ha 6 been the cus
tom at similar functions, when
Nikita Khrushchev was enter
tained at dinner at the White
House no blessing was asked at
the opening of the meal. The
Mayor of New York also dis-'
pensed with the blessing at a
civic luncheon, and business j
leaders at the Economic Club
dinner did' not thank God for
the food.
Not until we honor God and
recognize His moral Law in deal
ing with a man like Khrushchev
are we going to be delivered
from our present confusion.”
After Dr. Mclntire released his
statement on September 23, at
j a luncheon in Pittsburgh a Pres
j byterian minister asked the
blessing. This was the only
place on Khrushchev’s entire
tour where it was_done —and it
was done at the insistence of a
group- of Christian laymen in
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mended the prayer, which peti
tioned God for peace.
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