Meet joe, the king of the workers of the world. Hi, folks. Joes the king because he can buy more with hiwages than any other worker on the globe. Now, what makes it possible for joe to earn such a good living . Hes no smarter than workers in other countries. Are you kidding . Hes no stronger than workers in others lands. Oh, yeah . Well, just watch me. Just because joes an american doesnt mean yeah . Well being an american is the best thing in the ow, 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 youre no superman, it must be the american way of doing things that makes you the luckiest guy in the world. I dont think im so lucky. You dont . Well, let me show you. Hey, whats that gadget . Television . No, its a time machine. Just pull that lever. Youll see how people worked 100 years ago. Hey. This i like. Thats too far back. Try again. We want to stop at 1850. Whos the character . Thats 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 1,000 times. This makes it possible for you to earn more than any worker in history. And still have leisure time each day to enjoy life. So im 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. Each year, the people of america invest billions of dollars to create new plants and equipment. This invested capital buys the tools which make a mans lainer worth more because he produces more. In china, for example, where there is practically no capital available for investment in plants or tools, a mans labor is not worth very much. This takes ten days to move ten gallons of kerosene 100 miles at a freight cost of 10 cents a gallon. An American Worker takes one hour to move it 100 miles at a freight cost of 1 cent a gallon. He makes ten cents a day. An average American Railroad worker makes 10 a day or 100 times more than the man. The average Railroad Worker has the benefit of a 20,000 investment in equipment. The chinese coulees equipment is worth only 10 cents. With constant improvement in expensive tools and the skill to use them, the value of any mans labor can be multiplied many times. 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 grandpop. For 25 years, he knocks his brains out in the wagon works. Then along comes the gas buggy. Need i tell you what happened to gra grandpop . The history of our country proves that New Inventions create thousands of jobs for every one they displace, so it wasnt 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 good s at lower prices. The american way of doing things makes it possible for more people to own their own homes. Were only 7 of the worlds population, but we have 50 of the radios. We have 54 of the words telephones. Americans own practically all the refrigerators in existence. To give them plenty of ice quickly and easily. Bathtubs, weve got 92 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 of the worlds automobiles. 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 world. Capital must continue to provide industry with the funds to create new tools and plants. 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. Were featuring American History tv programs this week as a preview of whats available every weekend on cspan3. Coming up, a look at Pulitzer Prize winner cartoonist pat olafant, and then a united autoworkers film presenting Franklin Roosevelts campaign for a fourth term. Later, we visit the off the record bar at the historic Hay Adams Hotel in washington, d. C. To see a collection of political cartoons and caricatures on display. Youre watching American History tv on cspan3. Were featuring American History tv programs as a preview of whats available every weekend on cspan3. Tonight, we show you remarks from the annual Lincoln Forum symposium which takes place every november in gettysburg, pennsylvania. Historians joan waugh and Gary Gallagher answer the question, what caused the civil war. American history tv, tonight at 8 00 p. M. Eastern on cspan3. Next, more about Pulitzer Prize winning cartoonist pat olafont. His car teen collection was acquired by the university of virginia, at an event hosted by uva, president ial scholars discuss his work from lyndon b. Johnson to ronald reagan. Welcome. Were going to have for the next 75 minutes is a kind of meeting of two cultures. One culture is represented by the people on this stage who are scholars associated with the Miller Center here at the university of virginia, and who study the presidency is broad, longterm in perspective, balanced, and of course, expressed in words, in t