Show Douglas Sees Dictatorship As Result of Big Spending NEW YORK May 8 IP Continued government spending in the face of or orn an n unbalanced unbalanced budget means an eventual dictatorship In the opinion of Lewis W. W Douglas Doulas former director I of ot the budget In an address at a dinner of the National Economy league last lait night he declared that the government was wa creating flat bank deposits to meet mee mounting deficits and said that except for technical distinctions such a pol icy was no different from lh the printing of fiat money Such policies he said must unless checked lead ev eventually to the impairment im impairment im im- of national credit collapse of the banking system and destruction of the middle class The sheer momentum of these social social so so- cial dial and economic forces he said I will wm make it almost impo Impossible sible to old avoid a dictatorship and thus th there will have been destroyed all of the cherished liberties the highest treasures treasures treas treas- ures of America This is not mere fiction This is confirmed by experience ex ex- Senator Millard E. E Tydings CD D Dr Md lid joined with Douglas in m predictIng predicting predicting predict predict- ing that continued government sp spending spending spend spend- nd ing In excess of revenue would lead to financial panic and printing press money mODey The real road to recovery Senator Tydings said lies in balancing the budget stabilization of international currencies a revival of world trade a a of disarmament and settle- settle g i rv Me rr d ds s r d w LewIs W. W Douglas Doubs ment of the war debt issue Unthrifty governments can never translate prosperity to the masses masses he asserted |