MEET KING JOE

foreign [Music] foreign [Music] [Applause] [Music] of the workers of the world hi folks Joe's the king because he can buy more with his wages than any other worker on the globe [Music] now what makes it possible for Joe to earn such a good living [Music] smarter than workers in other countries are you kidding he's no stronger than workers in other lands oh yeah well just watch me [Music] oh just because Joe's an American doesn't mean yeah well being an American is the best thing oh my back sure being an American is great but how could you be superior to any Foreigner when you or your folks might be any one of a dozen different races or religions so if you're no Superman it must be the American way of doing things that makes you the luckiest guy in the world I don't think I'm so lucky you don't well let me show you hey what's that Gadget television no it's a time machine just pull that lever they see how people worked a hundred years ago [Music] you want to stop at 1850. who's the character that's your grandfather Joe oh he had to work 69 hours a week to earn a living because he had only inexpensive hand tools and his own strength to help him make things your grandfather was a powerful man yet his strength equaled only one tenth of a horsepower you have hundreds of horsepower in this costly giant of a machine to multiply your strength and efficiency a thousand times this makes it possible for you to earn more than any worker in history [Music] and still I'm each day to enjoy life so I'm lucky but what about the rich guy who does nothing while I do the work true there are rich people who contribute nothing and there are poor people who contribute the same but most of the invested Capital that buys the tools you use comes from your fellow Americans 40 million of us have money in the banks 70 million of US own insurance policies over 15 million of us invest Savings in corporation stocks and bonds which help to finance industry here the people of America invest billions of dollars to create new plants and Equipment this invested Capital buys the tools which make a man's labor worth more because he produces more foreign for example where there is practically no Capital available for investment in plants or tools a man's labor is not worth very much a Coulee takes 10 days to move 10 gallons of kerosene 100 miles at a freight cost of 10 cents a gallon an American railroad worker takes only two hours to move one hundred thousand gallons of kerosene 100 miles at a freight cost of one cent a gallon the Coulee makes 10 cents a day an average American railroad worker makes ten dollars a day or 100 times more than the Coulee the average railroad worker has the benefit of a twenty thousand dollar investment in equipment the Chinese coolies equipment is worth only 10 cents with constant Improvement in expensive tools and the skill to use them the value of any man's labor can be multiplied many times [Applause] naturally the people in this country who invest their savings with industry expect dividends no dividends no Investments without New Capital each year to finance new plants tools and equipment labor and management would soon find themselves in pretty bad shape yeah without Capital to buy new tools I might not do so good but look what a new invention did to my grandpa for 25 years he knocks his brains out and the Wagon Works then Along Comes The Gospel [Applause] need I tell you what happened to Grandpop [Applause] the history of our country proves that new inventions create thousands of jobs for everyone they displace so it wasn't long before your grandfather had a better job at more pay for Less work our industrial progress is largely the result of the competitive struggle between companies to capture the market to increase profits huge sums are spent each year to make a better product to sell for Less yet regardless of how much money is spent to develop a new idea there is often failure when research proves successful everyone shares in the accomplishment the business which fails to give the consumer as much value as a competitor gives often goes bankrupt however on a national scale competition gives the greatest good to the greatest number by continually producing more and better Goods at lower prices the American way of doing things makes it possible for more people to own their own homes we're only seven percent of the world's population but we have 50 of the radios [Music] we have 54 percent of the world's telephones [Music] [Applause] [Music] Americans own practically all the refrigerators in existence to give them plenty of ice quickly and easily [Music] we've got 92 percent of them most of us have the leisure time to enjoy the peace and quiet of the beautiful countryside as we drive about in 72 percent of the world's automobiles [Applause] under the protection of our freedoms American Labor Management and capital the greatest production team in the history of mankind have made the United States the industrial Master of the capital must continue to provide industry with the funds to create new tools and plans labor and management must continue to increase the production of better Goods at lower prices so that more people will be able to buy the things that make life easier and happier for all of us then Joe will continue to be the king of the workers of the world you said it brother [Music]