Show BANKERS BANKERS' HEAR ARMS VIEW HIT HOLLYWOOD Fla Dec 11 ff JP The The Investment Bankers' Bankers association association association asso asso- was told Wednesday that the huge national defense expenditures expenditures expenditures ex ex- should be regarded not as an economic boon but butan butan butan an economic burden Dr Harold G. G Moulton president president president dent of the Brookings Institution of Washington and a member of the former war resources board told the bankers at their convention convention convention conven conven- tion however that hat approaching the problem with that viewpoint might permit doing the job without without without with with- out a staggering Increase in the national debt This economist condemned the theories of the spenders some of them occupying important public public public pub pub- lic positions as failing to take into account that funds spent on bombers and naval haval bases and on public works are n nc net i procreative procreative procreative tive in that they do not earn revenues to pay for themselves and to contribute to government taxes They simply represent dead deadweight deadweight deadweight weight charges against the economic economic economic eco eco- system he declared While explaining that the de defense defense defense de- de program was subject to change to meet changing conditions conditions condi ondi- he said it appeared that in inthe inthe inthe the three fiscal years ending June 30 1943 it should cost the government government government gov gov- not more than |