 It's time for the Lawn Jean Chronoscope, a television journal of the important issues of the hour brought to you every Monday, Wednesday, and Friday. A presentation of the Lawn Jean Wittner Watch Company, maker of Lawn Jean, the world's most honored watch, and Wittner, distinguished companion to the world-honored Lawn Jean. Good evening. This is Frank Knight. May I introduce our co-editors for this edition of the Lawn Jean Chronoscope? Larry Lusser and Don Hollenbeck, both of the CBS television news staff. Our distinguished guest Of course, best known as an American industrialist. Can you tell us now how it feels to be a diplomat? Well, Mr. Lusser, I really don't feel that I'm a diplomat. I've been asked by the Secretary of State to come down here as an alternate delegate to the United Nations and I've been assigned to the second committee, which is the Economic and Financial Committee, which actually has nothing to do with the diplomatic relations of the United States with any other country. We are principally concerned with economic and financial matters and as you know, more particularly concerned with technical assistance up to this point. As a matter of fact, at this time I am not representing our country. Mr. J.D. Zellerback with the Crown Zellerback Paper Corporation from San Francisco is representing us in the second committee on something called SunFed, which probably doesn't mean much to most of this country, but which is now being discussed in the second committee. Would you spell that SunFed out? I think we all ought to know a little bit more about it. SunFed is S-U-N-F-E-D, which is a special United Nations fund for economic development. What about the difference in procedure though from being a business administrator and from working around a table with a lot of people from different countries, Mr. Ford? Well, as a matter of fact, I think that this is something that I have not had much experience with, but one which I have learned a great deal from and I hope that I can contribute a little a bit too. In our business, of course, which is the only thing that I've had any experience with and that is that we are used to dealing with problems, which all of us have had sort of similar backgrounds in dealing with. When we come here to the United Nations, or at least from my point of view, we are dealing with peoples from 60 different countries. People that have had different economic backgrounds, different cultural backgrounds, different language backgrounds, and for me, it's been a great education and a great experience to become associated with those people and to face the problems which are facing the world. It's a very thrilling experience and one which I think is very beneficial to the United States and I think the United Nations can mean great things for our country. What's the biggest problem in adjusting to that change? Well, experience, I think. Experience means a lot. Mr. Ford, you've been concerned so far at the United Nations with this expanded UN program for technical assistance to underdeveloped countries. Do you think this program is in our American self-interest? I think it definitely is. I think it is new. It is spread thin. It only has 25 million dollars, as you know, to be spread over 70 different countries and it involves several different agencies and the method in which it's administered is very important. But I think to many countries of the world, to many of the underdeveloped countries of the world, the United Nations is technical assistance. It's that thing which is brought to them, which is their life and death, the difference between life and death to them, health and food. And I think from that standpoint, it's very important. It's just as important as the bilateral, which is a technical expression, which we use in this country for the aid which the United States is giving in and of itself to the underdeveloped countries. But I think the United Nations also plays a very important part in that type of program. When the long one, do you think it will help the United States, though? I definitely do. Well, I've heard you quoted recently and seen you quoted as having some ideas and other lines of help around the world, which don't have to do with the United Nations. In other words, I'm going to get right down to business on tariffs. You've been having some publicity on some views of yours on that matter. Could you tell us a little bit about that? Well, I've felt for quite a period of time that is better for us to trade and not aid. I think that in this country, as a matter of personal opinion and speaking for myself, that our people would rather pay less taxes and trade more than they have. And I think that if we can get reciprocal trade agreements, I think we must have an understanding with our foreign friends that they will help us if we will help them. And I think if we can have a better trade picture, a lowering of our tariffs, and I think that if they will help us, we can have more trade, which will expand our economy. I think it's in our best self interest. I think that if we can sell our excess production, not only in farm goods, but in our hard goods industries, that we can do an awful lot for our country. And I think that it's in our best self interest to do so. Well, Mr. Ford, certain parts of the business world we must acknowledge didn't like some of your remarks about their desire for a closed market. How do you answer them? Well, I thoroughly agree. I think there are lots of people who don't agree with me at all that I don't blame them. There are lots of people that I don't agree with. And I think we we all have our certain interests in which we know better than other people. But I'm thinking, as a matter of fact, in my estimation, at least for the benefit of the country as a whole, I think that it's far better for us to find some way to expand our trade so that we will not have to pay out our tax dollars and aid. Well, wouldn't this matter of lower tariffs work a hardship on some people in this country? Very well, work hardships on certain segments of our economy. And I think that those segments should be definitely protected. I think they should maybe have direct subsidy, a subsidy that we can measure, a subsidy that can be seen as it is. We have a high protective tariff in many cases, which is unknown to the people of this country. There's no way to measure it. And I think if we reduce our tariffs and then can protect certain industries by direct subsidy, we'd be better off than having this umbrella. What would the lower tariffs actually do for our economy, Mr. Ford? On my estimation, and I'm speaking for myself alone, lower tariffs would mean that it would enable us to sell more of our goods overseas and return would allow other people who could earn American dollars to buy more from us, which would give them an opportunity to trade with us, which they are not now able to do because they don't have dollars. I mean, if we talk free enterprise and competition here at home, we ought to talk the same sort of language abroad, too. I think so. I'm for the freedom of the individual and for freedom of trade. Could you be specific, perhaps, about any industry that might need this protection or subsidy that you've introduced? I don't believe I'm in a position at this moment to talk about any particular industry. I'm not sure that I'm well enough informed to speak about any particular industry. Well, Mr. Ford, I know one industry that you're very well informed about. That's the automotive industry. You tell me, do you really think that we reached the saturation point of automobiles on the roads? I don't actually think we have. I think we need more and better roads and having driven around the eastern part of the United States, I can see why many motorists would be exasperated with automobile production. Have you tried to depart lately? The parkways on Sunday night in this area are really crowded. But I honestly think that with an expanded sales organization and with the products which our industry has to sell, that there's a great opportunity for us to do an even greater job than we've been able to do up to this point. I think we haven't really gotten into the really possibilities that are available for our industry. There are many families which don't own cars that can afford to own cars and there are many families that can afford to have two cars that only have one car. Well, Mr. Ford, what about the, if I may say so, the automobile dealers, aren't they screaming now about having too many cars in their hands? Many dealers, many dealers are. I think many dealers are really worried that the manufacturers are turning out too many cars. I think that since the war, the dealers really haven't had a competitive situation to face. And I know that they all want to face that situation and now we're in it. And so they've got to go out and sell and I'm sure that the manufacturers as such want to treat them in the best way they possibly can because no manufacturer is any better than his dealer organization. Mr. Ford, the cost of living is going on now. The index has reached its highest point since the Korean War. Do you think that if labor demands higher wages now that we can still maintain a decent cost of living in this country? Well, I'm not sure that I can answer that question, Mr. Lesser. And in the most economic sense, we in our business have a cost of living index which is measured on the cost of living. And as such, we pay wages in accordance with the rise or the lowering of the cost of living. And we will do that until our contract runs out in 1955. And that's our contracts that we're forced into it and we're very willing and happy to live by it. A lot of people say that we're in danger of overproduction in America and a recession is due. What do you think about it? I'm not worried about overproduction in this country and I'm not worried about a recession. I think we have the greatest country in the world. We have freedom of the individual, we have a love for peace and we have the ability, I think, to expand our economy to unlimited scope. And I think that if we all work together and we all try together, we have a great job to do for our country. We certainly want to win the peace. That's our primary objective. But I think that our economy can expand even farther than it has expanded up to date. Thank you very much, Mr. Henry Ford. It's been a great pleasure to have you here tonight. Thank you. The opinions you've heard our speakers express tonight have been entirely their own. The editorial board for this edition of the Laun Jean Chronoscope was Larry Lesser and Don Hollenbeck, both of the CBS television news staff. Our distinguished guest was Henry Ford II, alternate delegate to the United Nations General Assembly. Jewelers know that a fine watch such as Laun Jean actually improves with use. Yes, long years after an inferior watch has virtually worn out and has been discarded, a Laun Jean watch will continue to be an accurate and a dependable timepiece. So, may I suggest that when you're planning the purchase of a very fine watch, this Christmas, for instance, first, compare the facts about Laun Jean with the facts you have about any other watches you may know. The facts reveal Laun Jean as one of the very finest of the world's watches. Inside-by-side competition with the best watches of the world, Laun Jean is the only watch to win 10 World Fair Grand Prizes, 28 gold medals, highest honors for accuracy, and a position of preference in sports, aviation, and in science. The Laun Jean watch of today is made with the skill and the experience of almost a century of fine watchmaking. It's endowed with those qualities of greater accuracy and longer life for which Laun Jean watches are world-renowned, and yet you may buy and proudly give a Laun Jean watch this Christmas for as little as $71.50. Laun Jean, the world's most honored watch, the world's most honored gift, premier product of the Laun Jean Witner Watch Company, since 1866, maker of watches of the highest character. We invite you to join us every Monday, Wednesday, and Friday evening at this same time for the Laun Jean Chronoscope, a television journal of the important issues of the hour. Broadcast on behalf of Laun Jean, the world's most honored watch, and Witner Distinguished Companion to the World Honored Laun Jean. This is Frank Knight reminding you that Laun Jean and Witner watches are sold and serviced from coast to coast by more than 4,000 leading jewelers who proudly display this emblem. Agency for Laun Jean Witner Watches. Thank you.