 The Honored Watch Is Laun Jean Laun Jean watches have won ten World Fair Grand Prizes, twenty-eight gold medals and more honors for accuracy than any other timepiece. Laun Jean, the world's most honored watch, is made and guaranteed by the Laun Jean Wittemaw Watch Company. It's time for the Laun Jean Chronoscope, a television journal of the important issues of the hour brought to you every Monday, Wednesday and Friday. A presentation of the Laun Jean Wittemaw Watch Company, maker of Laun Jean, the world's most honored watch, and Wittemaw, distinguished companion to the world-honored Laun Jean. Good evening. This is Frank Knight. May I introduce our co-editors for this edition of the Laun Jean Chronoscope? Colonel Anselt Talbert, one of the editors of the New York Herald Tribune, and Mr. William Bradford Cuey, editor of the American Mercury. Our distinguished guest for this evening is Mr. Henry Wallace, former vice president of the United States. The opinions expressed are necessarily those of the speakers. Mr. Wallace, you, of course, are one of the most controversial political figures of our time, and I believe one of the most controversial points that you've ever advocated was American spending, large-scale American spending abroad. Now, when did you begin advocating this program, sir? Sometime in 1941, and in a rather extensive way in 1942. And you were a real pioneer in that field. You were one of the first Americans to so advocate that spending. I was so recognized at that time. And you were bitterly assailed. I believe that was referred to as global only and as the building of TVAs on the Danube and other such... Milk for Hot and Tots and so forth. I'm very proud of the names that were called at that time because those names caused the people really to remember that I stood for what is now looked on increasingly as a very enlightened program. Well, now, that's been, it's been 10 years now since you began that, Ed, the sister. And tonight, I'm sure that our Chronoscope audience would like to know exactly where, what you think now about that program. And specifically, what do you regard as the most critical areas in the world today? Well, today, the most critical areas, in my opinion, comprise the Mohammedan world extending from French Morocco on the west all the way across to the southern part of the Philippines and including also the Hindu world. And in addition, I would say South Korea because it seems to me of absolutely vital importance, if we wish to gain the sympathy of the peoples of Asia and the Near East, that we do a real job for the South Koreans as soon as the war comes to an end. If we don't do that real job to rehabilitate them, we will lose face even more decisively than we would lose if we lost the war in Korea. Well, Mr. Wallace, do you think the American people have gotten their money's worth out of this spending? Yeah, which spending are you referring to, sir? The foreign aid, which has been extended rather lavishly in the past eight or nine years. Are you referring particularly to the Marshall Plan in Europe then? Well, I think undoubtedly there have been some waste motion in the expenditure of the Marshall Plan aid, but it would seem to me to have contributed maybe, well, 20% to the increase in production that has taken place. That's a rough figure, but it's brought about a very substantial increase. How about our armaments program, Mr. Wallace? You've been called a man of peace. Do you think our current armaments program is justified and the cost, which it is, imposing on the American people? Well, the situation as it has developed, and I regret that it developed in this way, and I don't think it need to have developed in this way, but with it having developed in this way, we did have to go ahead with a very substantial armaments program. My contention today is that we take perhaps 1% of this oncoming armaments program of perhaps $60 billion a year and devote that 1% to a peace budget. I think we ought to have a peace budget going along with our war budget, and the peace budget gradually growing stronger as the war budget can be reduced. Now, sir, you have said that the critical areas are the areas around the iron curtain, particularly the displaced Arabs, and what would you have us do now, sir, in those critical areas? Specifically, and for the displaced Arabs? Well, this report of a committee that was recently made seemed to me to be singularly enlightened. First, of course, there are the immediate need to these displaced Arabs, but far more important than that, the long-time needs which have to do with the resettlement of these Arabs by providing adequate irrigation in that part of the world, which at one time had the most significant irrigation systems in the entire world. Now, in the Tigris, you freight these river valleys, you remember that Abraham came out of war with the Caldees, I suppose, somewhere in Iraq? It was a marvellously fertile, civilized area at one time and can be made so again. And these displaced Arabs, if we will step in decisively and vigorously to help them, can do a genuine job. And in the process of doing that also, they can make the position of Israel more tenable. Now, do you advocate this purely for humanitarian motivations? No, not purely for humanitarian, although I have observed this, that pure humanitarianism always has its economic aspects. Genuine humanitarianism pays. Well, how can it pay the United States, other than just doing a good turn if we step in there and help those people to a higher standard of living? Can it help us in our war against communism? Definitely. It makes all the difference in the world in our war against communism. To show that we can do for them what communism cannot do. The communists always promise land. Of course, actually, after the land has been given, they'll charge a higher rent than was formerly charged by the landlords. We can do a real job in seeing that these displaced Arabs have land, working in cooperation with the respective governments, seeing that they have, the dams are constructed, irrigation canals dug, water made available. Always having the local government, however, contribute its parts as well. And most of these governments do have income because of oil. If we do that for them, do you think that will make them prefer us to what Russia has to offer? If we really understand them. If we develop an extension system in their terms, similar to the extension system which we learned how to develop for our farmers in their terms. How about the Far Eastern situation, Mr. Wallace? Can we do anything in the Far East until we have stabilized the military situation? In the Far East. In the Far East and Korea, for example? No, we first have to wind up this Korean war. And I realize that that is a difficult problem, but I think that's off to one side. I wouldn't care to get in on that. I merely want to say that after the war is over, that we should start on a very vigorous peace offensive in Korea. That is, by peace offensive, doing a real job for the Korean farmers. Now, Mr. Norman Thomas on this show recently said that as soon as peace comes, we must step up government expenditures. Even larger expenditures, more taxes, and we are now levying. Now, do you share that view, sir? Do you believe that we should have more taxes, more government money, and then an equal amount spent to what we are now spending for military activities? I would want this peace budget to come in as a part of the reduction of the military budget, but with the total budget being of all kinds being less and less. Now, I realize that that may be difficult as long as the world is in crisis. And I don't think anyone can make an absolute statement as to just what percentage of our income can be spent on taxes and our capitalistic economies survive. I don't think anybody can state that with any finality. It depends on the crisis and the temper of the people. If the people feel that they're in very grave danger, then the taxes can be born. But I certainly would hope that we could have a much smaller proportion of our income going for taxes than at the present time. Well, Mr. Wallace, we've been discussing what we might do when peace comes. How does the situation for peace look to you right now? Peace in Korea? Some sort of settlement with the communists in Russia? I don't think anyone can say right now. It doesn't look very hopeful, does it? Well, I have this feeling that in this kind of a situation that the situation is most hopeful when it looks least hopeful. Mr. Wallace has a final question, sir. You've always been a man who your critics conceded and wished mankind well. And at the end of the year, we'd like to know and our audience would like to know if you see anything hopeful for 1952, sir. Yes, I see a great deal that is hopeful as we come to the end of this year. I believe the people of the United States are closer to facing the real facts. That force is not the ultimate arbiter. That ideas are the ultimate arbiter. That there is such a thing as carrying out the ideals of Jesus. That you can go forth into all the world and preach the gospel. The gospel of what a real democracy means, the gospel to every living creature. That Jesus did come that we might all have life and have it more abundantly. And that that can be implemented with what we have and that that ideal, which means so much to humanity, cannot be carried out with what the communists have but with what we have, if we really mean it, if we put our technology to work and that spirit in an understanding way in terms of these people that are producing only one-twentieth as much as we're producing who want to enjoy the good things of life, who have a right to the good things of life that we can produce twice as much within ten years they're producing today. Well, sir, I'm sure that our audience very much appreciates your views tonight and thank you for being with us, sir. The editorial board for this edition of the Laun Jean Chronoscope was Colonel Ernstel Talbott and the Mr. William Bradford Huey. Our distinguished guest was Mr. Henry Wallace, former vice president of the United States. On February 15th at the Bislett Stadium in Oslo, Norway, as the Olympic flag is raised, King Hawken will officially open the Winter Games of the 1952 Olympics. And the exclusive official watch for these Winter Olympics will be Laun Jean, the world's most honored watch. The watch employed will be the world-famous Laun Jean Olympic timer, which registers to a tenth or a fifth of a second of traditional Laun Jean split-second accuracy. Supplementing these Laun Jean watches will be new timing devices recently developed in the Laun Jean research laboratory and made in the Laun Jean factory, devices which will register the time to the one-hundredth of a second with the greatest accuracy ever attained. And may I repeat that all Laun Jean watches and timing equipment which will be used during the 1952 Winter Olympics are Laun Jean conceived, Laun Jean designed, and Laun Jean made, a fact not true of many timepieces in this world of today. Here in the Winter Olympics is another honor for the world's most honored watch. Laun Jean, the only watch ever to win 10 World's Fair Grand Prizes, 28 gold medals, and highest honors for accuracy from national observatories. And the experience gained in creating watches of high precision for scientific purposes contributes to the perfection of all Laun Jean watches. And that's why throughout the world, no other name on a watch means so much as Laun Jean, the world's most honored watch. Premier product of the Laun Jean Wittner Watch Company since 1866, maker of watches of the highest character. This is Frank Nightigan inviting 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 dishes of the hour, broadcast on behalf of Laun Jean, the world's most honored watch, and Wittner Distinguished Companion to the World Honored Laun Jean, sold and serviced from coast to coast by more than 4,000 leading jewelers who proudly display this emblem, Agency for Laun Jean Wittner Watches. This is the CBS Television Network.