Agoator it wasnt so long in the history of mans voyage toward a better world that ships were carrying eager passengers for the shores of a new nation that was just in the building. Our forefathers were constructing the foundation of this nation by interlocking inseparably the blocks of our political and economic freedom. [yankee doodle] [jaunty music] narrator the way of life our forefathers established on this foundation of freedom drew people from the far corners of the earth and all those who set foot on these shores had the opportunity to build a better life for themselves. Even young jonathan, an unskilled lad from across the sea, hope to find a job where he could progress according to his ability and enterprise. [jaunty music] narrator as the years passed, jonathans earnings increased. But he still felt that for a man of his skill, it was about time for another raise. [knock] mr. Blesgravy, am i not the best crown rounder and brim trimmer in the business . Mmhmm. Then verily, methinks i am worth more moolah. That you are, jonathan. Im sorry, lad. No raise, mr. Blesgravy . I quit. Sales and profit down, fooey. I could run this business better myself. Why not, my own business . All i need is a little capital, a little push, and an idea. There isnt a decent hat in the entire [indiscernible] imagine paying that much. Why not . Business ts, my own fortunately, jonathan was thrifty enough to keep a nest egg for such an emergency. The cost of the building took care of the nest egg. There was nothing left to pay for the necessary tools and equipment. But happily, jonathan had a good reputation, and as his idea promised a prophet, his friends and neighbors were willing to invest some of their savings in his new business. [jaunty music] narrator in the nick of time, an enterprising chap showed up with the Raw Materials to make hats. Before long, jonathan was open for business. First, he had to advertise. Shop at bonds on, it is the spot ladies get then you have thrilled 30 days to pay your bill narrator as an expert salesman, jonathan demonstrated the superior style and quality of his product. He said a price for his creations that the consumer was willing to pay, and sales dollars for it in from satisfied sales dollars poured in from satisfied customers. Jonathan said big jonathan had big dreams of the rewards of being in business for himself. Before he could buy what he wanted, his employees wages had to be paid. He had to pay taxes. Helped friends who finance the business had to be paid a return on their investment. When all of his bills were paid, jonathan had to exchange his big dream for a little dream. It is the privilege of alphonse, hat stylist for the grand heads of europe, to bring you hats with styles so sleek, quality mcafee, and a price lilac, so low. Come one, come all to the grand opening. Narrator to meet competition, jonathan had to put quite a bit of his profits back into the business to develop a better hat. If customers approved the quality, style, and price of jonathans new designs, he still could make his dreams come true. Thisthe passing years, Strong Foundation of freedoms protected the dignity of the individual and his family, gave everyone the right to worship as he pleased, and promised anyone with ability and enterprise the opportunity to participate in the building of the american way of life as we know it today. A way of life that depends upon millions of thrifty americans who send a portion of their savings to work in our Business System each year. Life, from all walks of workers, farmers, housewives, all of us send our dollars to work in our Business System in the hope of earning dividends, or interest, on our investment. Narrator anyone who has an insurance policy, bank deposit, or a shared stock is helping to advance our Business System. A constant stream of savings dollars must flow into big and Small Business each year. These dollars helped the buy the land, the buildings, the tools and equipment, and create new Job Opportunities for our expanding population. The goods we produce artistry beaded to main streets the goods we produce are distributed to main streets all over the country. While the main street up today does not look much like the main street of johnsons time, the principles of our Business System remain the same. Businessmen still compete with one another for the consumers supply of spendable dollars. And mrs. Consumer is still mighty critical of everything she buys. Otto, competition. Narrator the management of every business has a continuing problem, to improve their product to stay ahead of competition, or else. This is it, quick chills has got the ball. We have got to get it back. Moores style, better quality, new features, at the right price. Lets go. Micrometer. Wrench. File. Calibers. Slide rule. Narrator in addition to creating a better product, management develops new tools and more efficient methods to help workers turn out more boxes to sell at a price mrs. Consumer will pay. [jaunty music] narrator new features about this better product are advertised to point out its competitive advantages. The magic permafreeze with plenty of room for groceries galore beyond the magic permafreeze with a superduper door just press the button for your ice a feature that is new and extra space all over the place for other items, too in the auto magic permafreeze so see your dealer right away get a permafreeze today permafreeze lady, is your kind of refrigerator. Hi, high quality at a low, low price. Narrator sales dollars from satisfied customers once again flow back to permafreeze. A successful business must have enough sales dollars coming in to enable management to pay the expenses of doing business, such as salaries and wages, materials and supplies, research and product development, plant maintenance and repair. In addition to all of these bills, management have to pay taxes to local, state, and federal governments. Any money thats left over is known as profit. Wise management plows part of it back into the business. The remainder of the profit is paid out as dividends. [haonking] narrator these dividends are sent back to investors as a reward for risking their savings in the american Business System. Although occasionally, some of us take a lemon and have to take a loss. The constant investment of our savings through good times and bad has enabled our competitive Business System to continue to increase the production of more and better goods, to meet the demands of our rising population for a better standard of living. For example, it was only a little more than half a century ago that the average worker had only inefficient tools to help him turn out a product. Meant low wages. In 1900, many men had to work 10 hours a day, six days a week to earn enough money to provide their families with the bare essentials. Rule in thes the home as well as the factory. In many families, the youngsters had to work to add their earnings to the family budget, and forego the opportunity to get an education. With most families in those days, the standard of living left much to be desired. A halfcentury later, we had invested enough in our Business System to provide the average worker with efficient and expensive buildings and machinery to enable him to produce enough in a 40 hour week to earn twice as much as the 1900 worker earned in a 60 hour week. This shorter work week gives us all more leisure time to enjoy a standard of living beyond the wildest dreams of anyone who lived a halfcentury ago. The more we are in, the more the more our families have to spend on things they need and want. Young people have leisure time for a fine and enjoy Educational Opportunities denied their fathers and grandfathers. And fortunately, we have been able to raise our standard of living without sacrificing the spiritual side of life, which means so much to the american family. System hass continued to provide a better life for our increasing population, in spite of Destructive Forces which have pounded against our foundation of freedoms with no avail. However, wars or the threat of wars interrupt the normal operations of our competitive Business System. And may result in government controls, which crack essential blocks in our foundation of freedom. In one were to in world war ii, wages were controlled. Many workers were frozen to their jobs. Farm prices were controlled. And profits of business were limited. Allocatedals were between essential and nonessential business. Usa, many of us found less to buy because a good portion of our productive capacity went to the war effort. Prices were fixed and the available supply of goods was rationed. In were emergencies, we allow government to restrict certain of our freedoms, but we americans have learned to remove government controls as quickly as possible and to repair the blocks in the foundation of our freedoms to allow our Business System to resume its normal operations. While we invest part of our savings to help finance the worlds most efficient Business System, at the same time we pay taxes the government to finance many kinds of services, which also contribute to our way of life. For example, our taxes must provide the necessary funds to improve and expand our school system. Our taxes must be sufficient to pay for city streets, health, fire, and police protection. And of course, aid to the needy. Siren] and payator state taxes help for highways, educational institutions, and among other things, help finance important experiments to increase the productivity of our farms. Our federal taxes pay for irrigation and reclamation ,rojects, for National Parks postal services, the weather bureau, and many other services. Our taxes have to pay for the enormous cost of past wars and provide the funds for a defense program, which will ensure the safety of our country. In addition, all the us should be willing to pay whatever taxes are necessary to enable efficient government, to improve or expand any essential service. But with our present tax load, we should avoid pressuring government for any new services that arent actually necessary, because we all know the more our government provides, the more taxes it is forced to collect. Narrator none of us can escape. Small business. Farmers. Workers. Housewives. And all of us have to pay our share. Demanding more and more from government could create a tax burden heavy enough to crack essential blocks in the foundation of our Business System. Therefore, we shouldnt let our taxes reach a point where they destroy our ability to save and invest. For as we have seen, our rising standard of living depends upon a constant flow of savings dollars into our Business System each year. Narrator in the future of our country, waves of Destructive Forces will continue to batter against our foundation. The any force weakens interlocked blocks of our political and economic freedoms, as good citizens we must be quick to use the tools our constitution gives us and repair any cracks that may appear. Theong as we Keep Foundation of our Business System strong, we shall be able to maintain and improve the way of life our forefathers conceived and established, a way of life which gave everyone who came to this country the chance to progress according to his ability and enterprise. Like the youth of yesterday, the young people of today deserve the same opportunity to earn success and a compliment. And on this foundation of freedoms, continue to build a better life for themselves and their fellow man in the world of tomorrow. [captions Copyright National cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] announcer you are watching American History tv, 48 hours of programming on American History every weekend on cspan3. Follow us on twitter for information on our schedule and to keep up with the latest history news. Cspan, where history unfolds daily. Created as aan was Public Service by americas Cable Television companies and is brought to you today by your cable or satellite provider. Behind me is the oahe dam that sits just to the north of the city of pierre. It was built in 1962 by the army corps of engineers, 160 years after lewis and clark had made their way up the Missouri River through this area. Come with us to the south Dakota Cultural Heritage Center to learn more about their journey. Although the lewis and clark