Show 11IsbIssIsIIIIssM Btard t the prwtolfica at Ogden Utan as seooM Act ol CoDgrna March 8 1879 Member at Th Aaaocl A flartlM and ABCSI 23 per month: 15 00 cl&ae matter according UUHQ per rear Subscription price The Aanoclated Press la exclusively entitled to the oae for republication Of all nf dKpatchra credited as H at not otbarwlat credited in tnla paper and mmu hw news SUNDAY MORNING APRIL 3 1949 of Twentieth Century palf Gone and Now What Next? Steps Taken By Nation to Hike Credit 1 J By Mark Sullivan The federal reserve board has taken two steps presumably designed to increase the country's volume of credit They have rereduced the cash quired in installment buying of many forms of goods such as riff orators anri tht automobiles like and have lengthened the time duringbe wmcn instaumeni payments made They have reduced may from 75 per cent to 50 per cent' the proportion of cash required in purchase of securities from brokers on the stock exchange To reduce the proportion of cash is of I course to increase correspondingly the proportion of credit These steps are taken at a time when and presumably because there has been a recent recession in business The apparent theory is that increase in the quantity of credit in the country — which in effect is much the same as increase in the quantity of money — will make business better This theory is widely accepted it is thought of as almost ah axiom It is a practically universal belief that abundance nf monov—Hnth in the ordinary sense and what may be called credit money— makes for down-payme- Winston-Churchill'- Uf : ij ' Net Kid OtUWlvM fi rj rjsS&snl &sb 2 By MBA n Truman Talks of Inflation lilt Others See Deflation ' : Even President Truman'g friends profess to be puzzled by tbje president' repeated declaration that what the country needs is a strong set of laws that will permit him to control inflationary symptoms His friends don't fear any pomersome symptoms of tms nature and ii cold truth I'll eAiwtlnt J U 1LJtmmmM±MM some mmm Ja auuit ¥vuiwe lniiauon set m again in this nappier ii country Politicians prefer to hear people grumble about high prices instead of the loss of employment that somehow seems to run along with price declines Member of congress seam much more ready to favor legislation calculated to check recession than to curb the inflation they no fear longer Marrier Eccles of the federal reserve board reports evidence ol recession Soloes E G Nourse chairman of the president's economic advisers only Mr Nourse calls it disinflation Both say there is nothing to be alarmed Wat And further reassurance comes from Roger Babson observes deflation but calls attention to the cushions against rapid decline Leon Keyserling another of the president's economic informed business recently that the is more certain to act more promptly to combat government recesreal any sion than it acted to combat inflation Is everybody out of step but Truman? t i fsers -- w Rose Growers Engage in Annual Planting Spree 1 7 " We talked to a grower of nursery stock last week par- exchange while) today prices of stocks are low and the exchange has been almost inert The only interest in what took place in the recalling 1920s is to illustrate the potency that credit can have In the mid 1920s the federal reserve board followed a policy of making credit easy by low interest rates The board kept interest rates low for the principal and laudable purpose of not attracting investment funds from European countries Which needed their funds at home to air recovery from the war In the United States credit fnnnH ifc into the stock exchange there creating the booni in prices which was the precipitating cause of the ensuing depression Mystery of Credit What underlies all this is the mystefy that credit is It includes mass psychology indeed mass psychology 'is the largest part of it Credit can spiral and then it can ramify into unexpected places it is volatile It can be at first beneficent and later become a danger A vivid statement of the nature of credit is in a passage by Garet Garrett: "In all the discoveries and inventions by which we live and dfe thus totally improbable helix of credit i the most cunning the most "Die the least comprehended and except high explosives the most Modern credit as dangerous we know it or think we knrv i is a new and amazing power jtiU evolving still untamed Many have been mush more anxious to release ffiP nmvpr nt frAf it and exploit it than to control it ui even in unaerstand it (Copyright 1949 New York Herald Tribune Inc) de-spir- WASHINGTON NEA eel bad- rf ba Mngh the o Lucky Lady U around brought to the U cooperation admiijistrationi the world non-sto-p In saying that n pla-based in the fT & t hern together fVakkX t' can n ow drop a bomb any place "Win son in the world and return home claser' asked the cameramen liny up the B-a- bb V aaaan is something like this: The bomber could take off fully two tnousand miles after plane takeoff the bomber would be by the tanker which would then return to base The bomber would complete its nuaston drop its bomb and statTteek for home Two thousand miles out it would be met by another tanker plane and refueled again for the last lao This would have the effect of giving the bomber an extra 4000 miles lKys' Men other OE 'Ok flight picture " dont get And he wouidn Lewis Incidentally Tsmaa Beyd who was ior senate Mwuj director of tho 1 re-fue- led B3TSI i or m m are bfcBeved to have met mat was in e sea tata cbmmittee hearing room when troduoad- - Lewteslnpty "decided uoy-- t as nwi iftpo-- c tfr picked for the job fay Interior Se4 a Mjfv fi Lewis has made ramryjp no effort stocet then to rneet Bovd and see if their differences of ODitv — ion real or imginarv-icaul- d be worked out these millions in our great cities has nothing wno tne markes lor our ally farm proviae commodRies" race declared Mm tho m "and that we Major General Albert JcSefl est Of tot farmers when WO seek recently return! to protect the economic welfare and from his post as head Bl K Amet a good standard of living for those lean militarv adviso who the nrodurfs of tit to the Philippines farm cabled resorts from Manfai that hM "There Is a dependence of one upon the other—there ismmHtma com-- Inptne army General Jfnes was munitv of infprpr whirh to have made our most sympathetic consideration reported mcnnation at a super-- : oi ine proDiems ot eacn FilTpinO held in the office Note— Meanwhile cool - headed ing Trosident Quirino General Jones' v o n c John farm!! of (UMiih Said Was under has been busy preaching sectional veal he went on at what io nonnem uemo- ing bit he said no u unoersianaing crats man would think of inc abolition of the Phil tDDir Capital Chaff I wn com-lim- E e -- 1 The Baval officer who i ciiV friend of Onunesswoman force acceptance Thanks to dose the 80th congress American tann- Edlto Nourse Sogers Capt Lata- ers lost 50 cento a bushel on future wheat for the new international of evidence used to convict many of wheat agreement seta a world price toe nasi leaders triad for war of $150 Last year the agreement crimes in K'nrpmhnri which the Republicans refused to ator Cain of Washington has been i n busy fighting Mon Walleren and ratify fixed the price at $2 a bushel so ¥ Two southam rent control that he hasn't had qrlD irew Pearson who op- - Battle-Terten n Peaaaarata ASH1NGTON April 3 — The posed Truman o civil rights de time tor anything else Over the His comments got little newsplay V isn't announcing it officially serve chief it 2£llgren issue atone be got 14- for pushinc but Representative a ramer aisiuroinc mmg nD- : Stephen Pace an of ad au loud said ration victory the other tnrougn Georgia penea durinc ih recent war eam ircM- Democrats on both aides dant Trumanpersonally able Burnet May-- day what rhree ton cdi "n rem v baa aglroeil toacent Mason-Dixon toe line have bean v rcwnauwi at retzisfc red on One title bank of South arouna and de- - of Hotfman thinking n or whispering about their larkman nf Ala coalition-torJohn of 1DCA as soon as congress eluding the nresidem'a VOtes tlf Ff'A 3nnrnnrllnn party Another southerner was ie :j bal ZMWip Missouri hama R-It is no secret that soma northern f-dmg admirals the chief stumbl ig block — Rep ' able economic adviser a suomanne was in 1iC i nui Diuwn oi rgia During the Democrats furious at southern con- Isador Lubin is helpinc the state j a labor dele- servatives for voting with Repub- experiment draw up plans for the de called m licans against sent control tabor program ot V S aid to backward y of course n ware' onlv lmuiaiea ai Inquired whether legislation and other issues affecti i a S Protection Against hemy Submarines Asked - ui P rent-contr- ol of the were in j ec ever ie --chief significance lo to hits" is that the Sta has develoned uate iffalnat Iha a boo—submarines Losses Staggering the early stages of the recent our losses irom suDmarines wei The DUbUC knew how horrible they uranua V wp rifvp rrrt fn and other devices bjut dar detection tr- - fni flf th war lha nazjs got around these and allied snimns losses oeean to mount their e nazis covered V-bo- ats rubber to nrevent radar de- tflcnon anri Develoned underwater b eat hint devices so that subs remainl su (merged practically time ien came the end war The Russians nazi submi nine yaras took an tne i tst nazi devices been feme My building sub- nes since O navy i r games in nnny T'U" tne New Vara- - ren e - es!a J °nT "'' VJi: lobby ! awwssasaj uuuui e r ii s man la like streetcar putting motorman at the throttle of the 20th Century ltaiited New Y" s haslert Ccngressman Jack writter General in Berlin calling attention to day the revival of nazism Tavits is worried about the league for German revival and the rehi of three German editors accu ing d of nazi aynt- Inside fact about the pathles international wheat aireesaent is that the state department had to use economic pressure on the British through the Marshall plan to i mm i i i :' When u BaftrCe former Justice Owen J 'nor Secretary of War ntterson announced tnetr new Atiantie Peaforii federal convention ii tarrunaad almost as Starter! Justiee Rrvtvrt that Mr Patterson hud a as anornev for a client 1 anj court 'The tronhle is said Patterson that when Juitice Ro ens was on the suprefie coui ne maoe all the courts so pun un t nave luei to oe an tune earn my bread and buttfr - 5 Mitimlstii Mm m&mm rM the North Atlantic pact is thfat it wl oeiay war in turope by ing city dwellers have been spoilit not longer Most to even" ing "get to vandng There have been cloakroom ator Henry Cabot Lodge has more view—held for different reasons t threats of a "coalition in reverse" than a nassinp r i Dulles Ji in which northern city Democrats Prince Aly Khan's romance with John luster is and others— burg e atort Jf0"1! gangliig up with party-linctrn Rita Hayworth The may incite Russia Sr? Republicans against legislation fabulously wealthy prince served precipitous action Cnidal to the south aurh mm WA UAder tfctm-- m Iodce on nn and rural electrification Some big team during the warottll Both went United Nations general I f lieutenant citv Dpmnrrats ham nvnn uU- colonels at the time opening in New York ui farm-pritoe administration's opposing wiui Lodge fhe senior in command is not expectc to much prodce support prbjnun Pace Congressman however fered bluntly ftsnlnded northern and to evacuate Jap prisoner from last winter It southern Democrats that they were hurtinC each nthr snH mnro lm tbenks-rift&i WL portent— the nation by aactional Until tho ire hot Ai lfJ omen Trnnh oir warfare rate the era going it will like the Berlin and "I am sure that we will not be ak " Russians unmindful of the fact that lt la Jap prisonersyears- to return these won t be intri ce I - VtmM mYEgtmM reiatSs -- ipean now DON'T BE "STUCK" - c be- --f ::VEr- baaw lead in the WITHiji§$E Wtor Becoming StyUs From Anderson Jewelry! scat e how dissW shipping n't push aijj kfires eve it or not con an Bob Jti ch of Pennfyl- WOO fn years nas oeen Where are you going to ie mi oneyl' had to answer luesti oh I i no rare event deba tt oh tho 1557 ipriat ion f Hood contr ano dcvelot ?mnt n as the aivn ual "pork t n re was ai riot 'of la igher the nitkl nursing Ri m for 51 Dooeoo led to be 'if starter on t7909100 rel project bis Pennsyl WMa ttiere are you going to 0t the eop iprtip No reason to feel al f mmmmu " Innllirort can con- ian Homer Ancell of ureaon I ing Rich's old refrain buik the peevishly passed 'vic Rep Louis Rabaut Jan who was handling afSa5BU' raal aV WBS Br?- - mimm1 'mw -i ' ii'crusade the h nuse ' j Result? No more eyestrain— a lovelier you! I long with Ri ch k as icance srious in wa nting the n district They voted Insurance Have a Complete Eye lfaiirfiifoa By Dr W D W ZMler of ! "fffi1 (D-Uta- h) Ml have them fit ted with scientifically perfect 1 aaB KmW in the floor demanding wny ne snouidn t get coiiara i consistency thou art a s Kabaut's onlv renlv ?: are not nv- ( T can choose frames that are flak tering to you 1 i t about glasses these days! Y U here" blazed It adfnscioita i "' opt J Pay Only a lour Li§tallnient8 'While You ro T iI juii—i 2449 Washington Blvd AWMiWm in Ogden Second South and Main ! 9WWSflK m longer necessary Over- Kcnerals made these statements following the flight of Swadlak labor ticularly about the strong and consistent demand for roses w "vc uu ii airmen Kiiieo He related that he had written to nurseries in a training accident last month England about in was introduced Sen Elobtaining stock from them to vary and replenish his out- bert D Thomas today by I The men are Capt Allen R put and these English friends reported they too were under Bateman First r TT ri Lt Maxwell G Erskme — rirst Lt Ashton H Field- lis worth a hundred rc-pressure to supply roses in the quantities demanded by their ets tomorrow Your W Harold customers in the United Kingdom Hampton The accident me your or occurred on a fhM mL wi'i If was agreed between us that a people devoted to the 'Field March 5 car should be i yW prtW were air force reservists tea oeiore tne loss culture of roses usually can be depended upon to refrain AU under oresent law Kv wam al from by compensation laws mischief and to lend aid and comfort to not covered io men in active s t108 activities calculated to strengthen the home and fam- applying IPhone or see xnc i nomas otu would have con- declare that gran should morrow i may be too i be to and they ily improve the neighborhood considered to nave been in active There is no doubt the rose is the favorite flower and aerytee for 30 days at the time of has been so for ages No other flower has been mentioned tnt'ir ctificome an on- I so often in literature notably by the DOrtur iity to be of serv- poets An increasing Income Tax to ytouj number of books are being written about its culture for the Refunds SALT LAKE CITY April 1 (API benefit of amateurs as well as professionals The federal government refunded 4493 to Utah taxpayers in Ogden has launched its annual rose buying and plantMarch William J Korth collector ing spree promising far more bloom and perfume Am OK "felt ma rivni!P tnrfv heretofore Refunds Drocessed in the Utah irici iince Jan I total 5 May the joys be many and the pests few for our rose just about $500000 less thin the in tho mmrnrni for Lewt II United Mine WorkesH boss John L Lewis received the ant chums that foreign air For Airmen's Kin WAsHiVrirnw aii im a bill to provide compensation to total of ail refund jwr previously i mm- BananmV failed In refueling it would be luii too A foreign bam then mxild mighty cumenient -- A force officials would like to lack some Of the Bill Offers Help anti-soci- the tanker if 4ih Tit :z -- s I Foreign Air Basaa Hantiy ni Despite TJ S Statemen mm nt s rf Now that provocative comments on current events have had their place in the headlines on the front pages it is worth while to examine the main body of his speech particularly the political philosophy he uttered in speaking to the broad subject assigned to him by the Massachusetts Institute of Technolgy Mr Churchill was asked to talk about the twentieth century half of which has now vanished into time and he did so at considerable length with some humor and some optimism but with a big question mark in place of an answer to the question: Will the last half of the twentieth century fulfill the promise of a better life for a larger mimber a promise that the people of the westejrn world at least seemed to read in the social progrss made in the beginning years of the present century? MriChurchilL went back in memory to 1906 when he001 business was a lively member ol the liiberal party and wps proud Quantity of Crecit This theory has worked on very to be supporting the Lloyd George social security program many past occasions under condithat existed at the time Yet Churchill himself forced through legislation to raise the tions on other occasions under different minimum wages m one of Britain's sweated industries conditions it has not worked or not anticipated Social advances were slowed but not defeated by two de- has worked in ways on Something depends whether the structive wars until at least in the English speaking lands people as a whole including esbusiness and industry take a good life has become the blessing of the many instead of pecially advantage of the increase in quanthe very few Now where do we go? ' v tity of credit and make use of it If the conditions at a given time The former prime minister sees the world roughly di-- j are such as to create confidence in future business anri inHiictru vjjfad into two parts— the one where the people maintain the and the people generally are likely governments as servants of the people and the other where w wwie nom 01 tne increase in of credit put it to use tie people are servants of the government The task of the quantity and make business better Much vrw mtiflh free world is to aid the non-fre- e to become free and to prewhat use is made of an in just vent free peoples from becoming enslaved creased quantity of credit Once Science and technology have learned how to increase the increase is created or made available it mav flnw tntn K production of goods and services The task ahead is to taken into any of several chanIf used industry to Inequalize the distribution of food clothing shelter and other nels crease its plantbyand its output of t goods and especially if at the same things tending to raise living standards annAm time of nrices im riri WBt Churchill took note of questions asked in some prevented from going higher— in that case the hoped-fo- r betterment quarters wnetner tne world has enough resources and skill vi ousiness xaKes place On the to eliminate hunger His reply was that science and tech- other hand if the increased quanis used mainly in the nology must accept the challenge and lick thej problem The tity of credit of goods already existpurchase time is passed when any great mass will starve without vio- ing—for e :vy real estate and buildings and comlent protest modities—the result be mainWhile those persons skilled in expanding production ly more increase Ofmay prices1 withcorresponding increase ilk quanare at work in their field the task for the statesmen of the out tity of goods or betterment 6f buspolitical realm is to establish a world climate in which the iness in a sound sense Increase of Credit peace and order that must precede abundance can be had The potency that increase of Mr Churchill seemed to think that this condition can creow can nave in the country's economv whetha Huih be achieved through the United Nations in which he by federal reserve board policies urged continued faith bu increased numbers of world leaders are or otherwise is illustrated by what took place in the 1920s during the pinning ther hopes on a federal world government prosperity period preceding the deThere ipas stimulation and (inspiration in Mr Churchill's pression To mention !tls isf hot to suggest analogy between whkt took speech He reminded us there have been no easy times in place during the 1920s and the presto frequent ajssump-tipthe world's! history Man has taken some terrible beatings ent Contrary there is almost no contrast but he is tojugh and has a will to survive Furthrm tore he The conditions in the7l920s were Thta fermers utterly different makes some progress and doubtless will make more But were under a heavy burden of mortgages and farming was prosdesperate struggle must be waged and moral weapons are trate Today farming is the most is there in Sadly (enough nothing sight as yet to prosperous industry And an the Jgtent 1920s there was a boom on the New inspire the hope that some day man can rest and relax York stock v h I it 6A fail I r " mmmm n J '£i&'' ' i i Sa m? j i L n j n n n ill n nrD-ii- : - ir--' lir-n- n n n - n-- 1 1- 2- r" " l" "in M — 3—— 'pa I mm flMB — MM w |