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Forbes Magazine 50Th Anniversary, Far Hills, New Jersey, September 16, 1967

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Forbes Magazine 50Th Anniversary, Far Hills, New Jersey, September 16, 1967 FORBES Address by Vice President Hubert H. Humphrey at a dinner marking the 50th Anniversary of Forbes Magazine, September 16, 1967. Extract from remarks by Malcolm S. Forbes, Editor-in­ and conclusions that reflected intelligent considera­ Chief of Forbes Magazine, introducing Vice President tion rather than political consideration and personal Hubert Humphrey. prejudice. Remarks: Perhaps the thing that most impressed me was the Most of you were surprised this evening when my man's sincerity. Having known and written about so wife and I greeted you and you next found yourself many people in many walks of life and particularly shaking hands with the Vice President. in politics, the ring of sincerity is the toughest to This occasion is for Forbes Magazine an impor­ keep and to convey. tant one and as an important part of making the So many here tonight, as with so many around evening as memorable and meaningful to you as pos­ the nation, don't know Hubert Humphrey person­ sible, I asked this man for whom I have unbounded ally ; have not seen or heard him close up. Their respect and affection if he would speak to us. impressions of him have been formed by bits and The first time I met Mr. Humphrey was 3 Yz years clips on TV and radio and from newspaper head­ ago. At that time he was one of several being dis­ lines. As a result, sometimes people tend to think of cussed as possible running mates for President the Vice President as a voluble talker on any and Johnson in the 19 64 election. all things. In the course of preparation of an editorial on As you will note in a minute or two, he certainly The affair took place at the home of these potential Vice Presidents I spent a very long can speak well; but he speaks too with informed con­ Mr. and Mrs. Malcolm S. Forbes in Far Hills, New Jersey. day flying from Washington to Chicago with Mr. viction, and says things that make sense. His wide It was attended by 400 heads of major American Humphrey; accompanied him for many hours in the ranging knowledge of affairs of this nation and the corporations and their wives. windy city, and we flew back again late that night world are an immense asset to all of us. to Washington. It is with a heartfelt admiration that I present to I came away enormously impressed. you now a man all of you will soon know better and Hubert Humphrey's knowledge about many things better understand. was remarkable. He had facts, a viewpoint, thoughts He rings true. I consider it an honor to help celebrate the 50th the champion of public welfare and guardian of the of skills, poor attitudes, poor health-rather Government is not ommsctent, omnipotent, or Anniversary of that formidable "Capitalist Tool"­ nation's resources-yet it did so while still main­ than to broad economic forces; omnipresent enough to meet that challenge alone. FORBES. The journal, like its founder taining the essentially private nature of our economy. (Nor should it be.) and its ... inadequate education and training in an age · present owner, has always spoken out for the Since then government has recognized and acted of rapid technological advance; The challenge cannot be met efficiently or ade­ best in business-· for vital, creative, expansive free on the pressing social and economic problems of the quately without the initiative, the investment, crea­ enterprise. ... rapid and chaotic urbanization; times, and business has also responded. It is fair to tive imagination, the flexibility, the capacity to work B. C. Forbes was a man who believed deeply in say that in no other country have business and indus­ .. migration of unemployed people from decay- out details of specific problems that are the hallmark business, and the greatest businessmen in the coun­ try-through the sheer vitality of economic growth ing rural areas to the cities; of a free-enterprise system. try were his friends. But he never hesitated to point and the benefits it has brought to our people­ ... inadequate housing; and Moreover the problem out weaknesses in the free enterprise system, and he contributed so mightily to social progress. of poverty and blighted opportunity will ultimately be solved not just by an never mistook the interests of business for the in­ Today, as this nation faces a new challenge to its . rising expectations met too slowly. application of federal medicine, although that is terests of the nation. His formula was the reverse: democratic destiny, I believe the balance of public The unifying ingredient is poverty, which, as the needed, but through a process of organic growth What is good for the nation is good for business. responsibility is visibly-and rightly-shifting back National Association of Manufacturers recently ob­ which gives every American citizen a permanent These are fitting times in which to celebrate the toward the private sector. I do not mean that gov­ served, "has become intolerable in this country and useful place in our economy and society. philosophy. ernment is abdicating the duties we have all given because it is unnecessary." As most of you are aware, the indispensable role it, but rather that the private sector is I grew up with a generation which believed that assuming an of the private sector has been recognized, for in­ unprecedented amount of responsibility for History calls upon us today to eliminate poverty neither the private sector nor government was taking the wel­ stance, in nearly every major piece of anti-poverty fare of the in America. adequate responsibility to protect the interests of nation at large. and urban renewal legislation passed under the the public. Their evidence was all around us: the That is right, because the crisis before us is a It calls upon us to move past mere welfare pro­ Johnson-H urn phrey Administration. Great Depression graphically told many of us that complex one requiring solutions which are .beyond grams to a concept of full and equal opportunity The Model Cities Program our farms, our people, our free-enterprise system the capacity of a government alone to provtde. for every American. invites private partici­ itself, had been wastefully exploited, in large part pation in every area of urban renewal. It was passed It is a crisis of .. because of excessive laissez faire on the part of the It calls upon us to make every American a full in the first place with a strong boost from Edgar participant government. racial discrimination; in this prosperous society . Kaiser and some of his business colleagues. Some did not agree with us; but those who did ... unemployment and under-employment due to Yes, it calls upon us to perfect American The Rent Supplement and Turnkey Public Hous­ were a majority, and government became more fully hard-to-correct personal inadequacies-lack democracy. ing Programs are a way of making it possible for private institutions to market decent low cost The new Detroit Committee is investigating the Goals and Commitments" issued by the Coalition in And I think so for several reasons: housing. whole spectrum of problems which adds up to slums Washington three weeks ago stated: First, it is now clear that business people are not and ghettos. James Roche is on that Committee, and "All representatives of the private sector in the only willing to make sizable investments in housing, The Job Corps is one of our newest departures in I understand Ford has even established a Depart­ Urban Coalition decisively commit themselves to job training, and other imperative social programs; the human resource development field. It would ment of Urban Affairs. assist the deP;rived among us to achieve full partici­ they are personally devoting a great deal of their have been a natural thing to hire a few thousand hundreds of communities across the nation, In New York, U. S. Gypsum has apparently pation in the economy as self-supporting citizens." time, in more civil servants to do the training, but we de­ to community action boards, to local development achieved a real success in low cost housing renova­ documents in the cided instead to call upon the practical experience That was one of the proudest agencies, and to direct supervision of social 'pro­ and know-how of private business to run the Job tion. I history of free enterprise. grams their firms have undertaken. Corps camps. Litton Industries and Westinghouse, Corn Products of Argo, Illinois, found it cheaper Finally, there was the dramatic announcement last Second, I see an emerging consensus, not only be­ which are represented here tonight, are now running to upgrade the skills of its own workers with remedial Wednesday that the life insurance companies of tween government and business, but including labor two very successful Job Corps programs. courses in reading and math than to hire better­ America have pledged to invest one billion dollars and the responsible leadership of the ghetto commu­ trained employees away from the competition. The ce enter­ But the initiative which has recently emerged in in city core areas to build housing and finan nities, about what needs to be done. The formula is program was so successful-and so profitable-that jobs. The President called it the business community itself provides the most dra­ prises which will create jobs, housing, education, and local initiative. Corn Products has set up a subsidiary to market its contribution." It is nothing less. matic evidence of growing private sector participa­ an "historic problem of poverty is complex, but it remedial course. I hear that fifty firms have bought Third, the tion in the war on poverty.
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