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Show PROFESSORS OF FINANCE WARN NO BAM LOAN U. of C. and Stanford Experts Point the Way to Sound Reconstruction Finance The banks of tho United States must be left freu to tlnnnco tho reconstruction reconstruc-tion of productivo entorprlso and must not bo cluttered up with the Victor) Libert) Loan. That is the composite, hought-out opinion of two of the West's most noted professors of finance, Carl C Plohn, professor o! finance in the University of California, and Murray L. Wlldman, head of the department of economics and finance of Stanford University. Doth ngrcc that tho money needed to finish palng for tho vtar should not como out of working capital, but should be rnUcd out of ir.''Miliinl savings of humble and wealth). "If tho people ta! ''-e Loan, as tho must," Professor PitI ras, "the banks will bo left free to It U n the manufacturer, tho farmer, tho gia - tho butchor, and tho baker, so thui they can get busy again on a peace Hmo hasla. Then production and b'isl tits will grow nnd, by tho formula, prices will come to normal If wo 'Icao It to the banks,' they will hno no funds left for bushiest, big or Utile. Ut-ile. We, ourselves, will not profit nnd tho day of oiirTOtlempllon will only he postpontd ' Frofes'oi Wlldman, whoso ability caused him to 1m called from Stanford Stan-ford to Washington for war finance service, agrees with the California economist, adding "It would be a grao mistake to saddlo the" banks of tho country with tho Victor) Loan at this time " Whon two professorh nprce. It'i tlmo to sit up and take notice When two professors not ,ily agrco with each othor, but agree with tho Oovcr.i mont, thnt settles It. Finance Is their business partlcujirly Oovernmont finance. They hao spent their lives studying It nnd nre paid good salarlec fo. teaching tho principles of It to the men who are going to run the nation tomorrow. Finance Is net the business of the wiseacre who screw n down the corners cor-ners of his mouth and says, "Let the hanks do It" Better take the advice of scientists who know. |
