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Show POOR" FINANCE TO LET BAMS TAKEV. LOAN By M. 8. Wlldman, Head of the Department of Economics and Political Sclonco.at Stanford University, California. Just about two years ago wo began to mako war and stopped making a lot of other things or mado thoso other things only In limited supply. Hallway construction camo to a dead stop. Kqulpmcnt wns worn'' out fastor than It was replaced. All over the country building operations woro sua pondod. In the Kortli Atlantic stntoi alono tho doflclency In building Is estimated by tho Department of Labor to exceed $500,000,000. If tho situation all ovor Uio country Is comparable to this, tho accumulated need for' construction con-struction now exceeds two billion dollars. dol-lars. Through a wldo rango of manufactures manu-factures from automobiles to chowlug gum curtailment wait tho order of thu day until now wo faco a dollclcncy In numberloss commodities of custom, ary uso. Tho emergency which led to curtail, mont Is happily past. Tho Interest of all classes of peoplo roqulrcs tho 1 quickest posslblo resumption of normal activity. Consumers want tho goods, returning soldiers need tho employment. employ-ment. Tho heavy vur tnxos call for correspondingly largo production, whllo Europonn reconstruction will open the way for exports. This resumption of ontorprlco, If wo embark upon It as wo should, will roqulro bnnlc loans on n tremendous Bcnlo. Tho high wages and high cost of materials will necessitate advances proportionately greater than In tho paBt. To bo available for this purmpu, tho funds of tho banks must not bo absorbed by government requirements. The necessity for n wldo public paitlcl-patlon paitlcl-patlon In tho Victory Llborty lonn la oven greater than It wbr in tho caso of curlier loans when curtailment of Industry diminished tho needs of private pri-vate business. If tho banks arc compelled to enrry tho government, thoy cannot at tho sumo tlmo carry trlolr customors. For ovary billion dollars worth of bonds left on tho hands of tho banks thero will bo Just a billion loss for tho revival re-vival of Industry and tho employment of Inbor. It If to tho personal Interest of ovory man nnd woman In Amorlca to subscribe sub-scribe to tho Victory Llborty loan out I of his or her navlngj. |
