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Show MR. HAYES ON INFLATION. The more we hear from National Commander Edward A. Hayes, of the American Legion, the better we like him. In an address at New York the other night, Commander Hayes reiterated reiter-ated the fact that the American Legion Le-gion wants a sound American dollar and he issued a timely warning against the dangers of inflation. In explaining the ideas of the Legion on the subject, Mr. Hayes said: "We want to know that the fellows who were maimed in the war, and from whom a great deal already has been taken in the way of benefits, will be receiving a dollar that is worth a dollar and not 30 or 50 cents for that dollar." Those who urge inflation seem obsessed ob-sessed with the idea that it is the only thing which will save the farmer, and by giving him higher prices. But they do not stop to think that as farm prices go up so will the price of the things which the farmer has to buy. And they fail to take into consideration considera-tion what will happen to the wage worker whose wages will rise much more slowly than the cost of living. They do not consider also as to what will become of the family living on a fixed salary or a fixed income, of the fellow who has his few savings in the bank against a rainy day, and of the millions of Americans who own life insurance policies, and those who in later life, no longer able to do active work, are now trying to exist on an annuity of some sort which they earned earn-ed by sacrifice and frugality in the days of prosperity when some folks who now demand inflation were wasting wast-ing their incomes in riotous living or in the attempt to get rich through speculation. |