OCR Text |
Show OUR MONETARY PROBLEM LARGELY ECONOMIC (From Federal Reserve Bulletin) The financing of the war is only In part a monetary problem; in' a very large part it is an economic problem a problem of ' conserving the economic as well as the financial strength of the nation and developing develop-ing our resources and .-productive be able to sustain the great military operations which are in prospect and all that is incident to them. No one should, therefore, consume goods except to the extent that their consumption is necessary to maintain main-tain health and vigor. No one should draw upon the credit resources re-sources of the country except to finance transactions which are essential, es-sential, for a nation it war. Credit, like goods, should be saved. . ': Conservation of credit as regards nonessential enterprises Is necessary In order to provide, without undue expansion, the credit required by the government and by business essential essen-tial to the success of the war and the well-being of the. country. |