Show r I j IJ g gt t J y t Wi 1 NJ J tiJi L It would be quite quita interesting if a businessman went to his banker and showed with his books that he was running bad bad- badly ly in red and that in ad- ad addition ad both his creditors and competitors wera doing their best to take advantage of the situation Would the bank therefore help t h him out f Jf J Dut what y would make 7 l J ly it even more 4 interesting f J assuming the y banker show show- showed t ed cd some in terest in ex ex- ex extending tending help If the bust bust- C W Harder neuman also said And while you are at It better leave me have a few more extra thousand and so I can go goto to Las Vegas and take a chance on some new forms of gambling to see III if I can ball out this way too Obviously the banker would take a very cold attitude While that may sound sous lous and it is it is perhaps no nomore nomore more ridiculous than the recent maneuvering in the world mono mon monetary market participated in by bythe bythe the United States government to bolster the British pound In the last election by a very narrow maJority the British put into power a Labor gov gov- government Now of 01 course the British people have the right to elect any kind of a govern govern- government ment they desire 5 But the Labor Government has announced that it is deter deter- determined mined to continue socializing industry continuing where they left off off the last time in power ae nf er Independent Buln Tile Tue plans are to the steel industry the trucking industry and others as well as extend welfare state 5 However with their economy already deeply in the red these announced plans to further so so- so socialize the economy made in- in investors investors holders of British pounds and others under under- understandably nervous Also as a factor was the memory that the last British Labor government lowered the value of the pound by almost half So with all these Investors started dumping the pound on the open market to Jet get rid of them at atthe atthe the best price possible before the boom was lowered 5 But Dut immediately to prop up the British pound the United States participated in a move to raise 3 bInion to prop up the pound even digging into the diminishing US gold supply 5 Thus by indirection tile the peo peo- people pIe ot of the United states are now committed to support socialism to in Britain Thus the situation is weird especially when a nation that thatIs thatis Is supposed to believe in the free enterprise system taps the resources of its citizens to support a socialistic regime It Is not Inconceivable that In the not too distant future somebody will come up with the idea of government finan- finan financial financial cial aid to counterfeiters After Arter all if American funds can ean be used to maintain a false falsI value on British currency why can can- cannot cannot not it be used to support bops bogus American money |