OCR Text |
Show The UTAH INDEPENDENT Page 6 The Paper ThAt Dares ' To Take A Stand their friends on the payroll and started the welfare state. They ran out of money, and debts began to accumulate. They wanted to get November 17, 1972 Gold Standard Only Cure For Inflation Continued from Page take a piece of paper and write across the top, I can no longer afford to pay my railroad fare, won't you subscribe $ 1 .00 a month, or whatever, so I can still work in New York and live out here? The minister said, Nobody would sign a paper like that. I said, Of course not, but you propose to take the money away from them by force. And thats exactly what all kinds of subsidies are. Your people, I said, would no more than get back home from their unsuccessful effort to get subsidies for their railroad fare until a group of farmers would knock on the door and say, We can't afford to sell our produce anymore at market prices so would you subscribe $1.00 a month so we could have more than the market affords? You would say, Well, I have quite a job paying my own grocery bill. Im sorry, but I Cant pay yours. But you do, for they go into politics through a pressure group and take anywhere from 3 to 8 billion dollars a year out of the pockets of the American people to do exactly that thing. There are thousands of such groups. Each stealing to see how it can get more from somebody else. Another group might come to your door and ask you to help them build a house and you would say, Its all I can do to pay for my own house. But you do help them because most of the new houses, in one way or another, are subsidized by the government. So are most of the new rentals. The scrap iron people were not getting enough for scrap iron so they petitioned government to buy and stockpile scrap iron at price greater than the market could afford. The oyster producers at Long Island Sound were not getting enough for oysters a few years ago. They petitioned the government to buy and stockpile oysters so they could have more than the market price afforded. The egg producers in South Jersey, a few years ago when Elder Benson Ezra Taft Benson was Secretary of Agriculture; were not getting enough for their eggs, so they petitioned the government to buy shell eggs and the government refused. Elder Benson and the Department of Agriculture refused to do that, but these farmers said, Why? You buy powdered eggs. 1 them, what the solution or answer is. It's amazing how little the public in our country know about economic problems. Most people think that the minimum wage is a good thing, that somebody who needs it is going to get more money. Not so many realize that the minimum wage is probably the principle cause of unemployment, that there is a direct relationship between and wages rising unemployment, especially among the lower groups of less skilled people. If you tell an employer that he must pay an individual more than the economic value of that' person, he cant do it very long and the man or woman loses his or her job. That is a direct relationship. As the minimum wage goes up you will see unemployment increasing and vice versa. That is why so many of our younger are people and our unemployed. The ratio in that group is very much higher than in the other groups. This is a matter that is not well understood. So is the fact that subsidies of any kind make matters worse, never better. And yet we are divided into innumerable pressure groups in this country striving to get subsidies from some of the wealth of other people. I was making a talk like this back in New Jersey at a church group and during the discussion period the minister arose and said that, The railroads are raising the commuters fare of my parishoners as much as S30 a month and they cant afford to pay it. I think the government should do something non-Americ- ans about it. asked, uWhat do you think the government should do? Well. he said, 1 think they should subsidize the railroad. I said, Do you mean the government should go into the slums of New York and take money out of the pockets of the poor people living there, who have to endure the noise and crowd and dirt of the city because they cant afford to live out in this comfortable suburb and give it to your people so they can afford to work in New York City and live out here in the suburbs? Im surprised at you, Sir, thats covetry, and if you succeed at it, its stealing. If you are really honest, you would I I I I I I I The I I corn, butter, cotton, wheat, and everything else. What have you got against shell eggs? And believe it or not, government eventually saw the point and started buying shell eggs. You see how we are permeated through and through with all sorts of pressure groups who are trying to get something of the production of other people. Thats basically whats wrong with this country today. We are trying to live from the sweat of other peoples brows instead of by our own efforts. Too many of us are doing that. Its one of the basic problems that we face how to get back to the time when people were expected to support themselves and their families and not depend upon government or the labor of somebody else to supply their needs. Back in 1890, there was a little drought down in Texas and the farmers were having a hard time. A bill was introduced to appropriate $10,000 to help these drought-stricke- n farmers in Texas. Today, of course, it would be $10 billion, probably. President Cleveland vetoed it. He said it was the business of people to support government and not the business of government to support people. Now if we had stuck to that principle, what a different picture it would be in the United States today. I suppose something like 90 of the time of our Senators and Congressmen is spent in devising ways and means of taxing a few the distributing people and proceeds to a billion people. That way, they are making more votes. And we dont stop to think that when we are spending our time trying to get some of the wealth of other people, we are not spending our time and our ingenuity and muscle in creating new wealth and the assembly line slows down. We live not on the wealth already existing, for if you stop the assembly line we w'ould all be cold and hungry in a very few weeks. We live from the daily output of the assembly line that rolls along and if One oftheWorld's distinguished restaurants... mm I I I Subscription Weekly I I I 1 -- (First) (Middle) (Last) rnUunnlv Address The only rattauranl in Utah honored and racorn men dad by American Eipraas and Gourmet Magazine. (Deeamber, 1971) I .1 (City) You are invited. to enjoy excellence in dining with courteous professional service, surround- ed by continental elegance. Choose among our variety of American favor- ites and gourmet creations. We also serve foods. delicious low-calor- ie DINNERS START AS LOW AS .1 (Number And Street) (State) (Zip Code) I m I tprrss Money (dni is honored here. I I Restaurant Minoa Your Amrrit Independent j Fastest-Growin- g Recommended in Gourmet December 1971 One of Ihr Worlds I i I I I cream, milk, I I I I I I I I buy- I Utah's Largest and i Name you more money. In those days, they didnt have paper and printing we argue about how to dispossess presses, so it wasnt easy to get one another, we are not putting our more money the way it is today. Its attention and our ingenuity on how no trick at all to have all the money to create more wealth. That is what you want today with paper and socialist and printing presses. But, in those days happens in all communist countries. Thats why they didnt have these so they hit live upon the means of drawing in all of they are hard up and have to from our bounty. If we hadnt the coins, melting them down and them 90 or more of lead helped them all through the years, recasting Communism would have withered or some cheap metal. Then they on the vine a long time ago. decreed that a coin that was 90 Because of the help and money and lead was worth as much as one of know-ho- w and expertise, in all gold. Well, thats bearing false recognition and prestige, loans and witness. That brings us to all sorts of things, we have kept Greshams law that, Bad money them going. But, they cant feed always drives out good money. themselves, even yet, after over half Gold and silver left ancient Egypt a century. They have to get their and the civilization declined, never wheat from our country and other to recover its value. This happened countries. This shows the result of in country after country. The same thing happened in coveting the wealth of other people instead of fixing your attention on Rome. Caesar needed more money. They didnt have printing creating more wealth for yourself. presses either and so hit upon the Well, this is both a moral the edges off the problem and an economic problem scheme of clipping as we have seen, and I cant discuss coins and melting the scraps to both in one talk so I will have to make new coins. Then they choose whether we are going to declared that a clipped coin was worth as much as a whole coin. But discuss the moral and religious side of it or the economic side. I think again, it isnt so. Gold and silver and 'Roman this time we will discuss the disappeared civilization declined, never to economic side. 1 think we will narrow that even recover its grandeur. But the Caesars said they werent more and bring it down to the subject of inflation. First, the going to stand for that, they were definition. Second, the history of going to fix wages and prices so inflation couldnt run away with it. Third, that there is never, never, never any need of it. Fourth, the the country. They made the most extent of inflation, what it has done savage attempt ever made outside already to our country. Fifth, the of Russia to fix wages and prices. cause of inflation. And sixth, what They even riveted iron collars around the necks of workers we can do about it. First, the definition of inflation describing their jobs and their rates is the. increase in the quantity of of pay, but even that didnt w'ork. money. Thats all it is. Theres a lot You tell people they have to raise more that needs to be said about produce and bring it to the cities inflation but thats the proper and sell it for less than it costs, and definition. they wont do it. Im not talking Now a few words about the theory here, I have seen it happen history of inflation. The first in country after country where I inflation that we know anything have been on the ground and about occurred in ancient Egypt, watched it taking place. They will thousands of years ago. That raise enough for their families and country had contributed a great what they can black market and the deal to medicine, architecture and people of the cities will go hungry. literature and was really Now, controls over wages and a wonderful civilization. Finally, prices always produce two things: the Pharaohs became extravagant one is scarcity and the other is and started spending more than black market. They wont work for they took in. They began to put any length of time. Maybe for a LUNCHEONS START AT 3.35 1.40 Lunch from 11:30 a.m. Monday through Friday. Dinner from 5:00 p.m. Monday through Saturday. Limited private facilities available for groups of 20 or more. Advance reservations required. 1140 EAST 3900 SOUTH SALT LAKE CITY tor reservations call 266-351- 3 siEJEiHiEraiEiEJEizraiHfEiBBmmmramfamfaiafaiaiE |