Show I Preva Prevailing i I i ng Opi Opinions I Comment of the American Press Excuses for Inflation n 4 Senator Thomas of Oklahoma I plans to use current low prices of I farm products as a wedge to force the next congress into currency inflation When prices are low lowthe lowthe lowthe the argument is that printing more d dollars would enable buyers to pay higher prices When prices are high the argument is s that more dollars would enable more persons to buy more things This point of view is based on the theory that the printing of more dollars increases the buying capacity of individuals and that persons who now have no money would get some if it were more plentiful There already is a kind of Inflation in inflation inflation in- in and there may be more Even if Mr Roosevelt's annually reiterated promise to balance the budget next year were to come true there would be more than of national debt to pay That can be paid only by skimming the total national in in- in come How it is to be made large enough to amortize without some kind of inflation inflation tion is a puzzle that economists do donot donot donot not answer satisfactorily That inflation however is one of transactions and g gradual r a d u a I 1 changes not the jolt of a flood of rubber dollars These naturally would flow into the same coffers and pockets in proportion as they now are held They would represent represent represent sent no more values and no more purchasing power than the present present present pres pres- ent oversupply of idle dollars rep rep- resent If some way can be found to get those idle or frightened dollars dollars dollars dol dol- dol- dol lars the picket line of taxes threat of government gov gOY competition and persecution persecution persecution tion official denunciation and menaces of destruction they might get getto to work and produce an ani i r inflation of their own controlled by economics and not men to create a volume sufficient to be skimmed for treasury dept pay pay- ments That is the only kind of inflation possible without collapse of the whole tax and industrial structure San San Francisco Chron Chron- icle ide Blackmail and Extortion The third reich is badly in need of funds and no one knows how long the ingenious Schacht with his many varieties of marks and his thousand and one kinds of of government notes can keep up his fiscal juggling But these financial difficulties may partially e explain plain increased persecution of non Aryans in Germany even those who may only have one Jewish grandmother in their family family fam fain ily tree way back in 1815 or thereabouts For if non Aryans are persecuted persecuted persecuted perse perse- severely enough they will leave their country We say their country because cause these non Aryans Jewish or gentile are better Germans than their nazi tormentors The flight tax was first imposed imposed imposed im im- im- im posed by Bruening in 1932 and its purpose was to stop the flight of capital from the reich In 1933 the nazis came in They added many refinements They applied it only to non Then they changed its impact Under nazi law the tax does not apply to capital leaving the country country coun coun- try On the contrary non Aryans leaving could up until recently only take 8 S per cent of their capital and even this has now been reduced educed as too gen gen- erous They pay a 25 per cent capital levy on all they have have have- even though they must leave allbut all allbut allbut but a fraction of it behind What remains over after the 25 per percent percent percent cent tax is put into a frozen account guaranteed not to thaw Business is good The yield of or orthe the tax ta has ris risen n. n from to marks a year the total value of or refugee property almost all of it frozen and atthe atthe at atthe the governments government's disposal is marks or about Thus the nazi government government gov gOY by the use of blackmail blackmail black black- mail meAl abroad and extortion at home thrives New New York Post |