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Show OVERPRODUCTION OR UNDERCONSUMPTION The world-wide depression has brought out much conflicting criticism. Some of it has been constructive while some has served serv-ed only to congest clear thought. One man claims ail our troubles are due to over-production and that productive enterprise has gone beyond the consumptive limits of the world. We cannot subscribe to such a theory. It is doubtful that the world has a general over-supply of goods even at the present time. An over-supply of the things that the people of the world need or want has never taken pilace. Without going into a maze of statistics it can readily be seen that it is not over-production of wheat in the west when millions are starving to death in China, in a sense this is true of all commodities and manufactured goods'; the world is starving for then. When the city worker cannot buy the products of the farm, the rural neighbor cannot buy the manufactured goods of the city factory. When the first pinch comes it usually contracts until it becomes be-comes acute. The problem is as old as the human race. This time it is greatly more severe, owing to the high standard of living and the vast amount of non-essentials to which the people of the world became accustomed. By the use of credit people of the civilized world afforded many of the luxuries that kept the wheels of industry going at full blast. This in turn kept the fawner busy and all were happy and prosperous. But nothing was done to supplement the elasticity of the credit chain and it broke under the ever increasing strain. Normal Nor-mal functioning got badly out of kilter and it is still out of order. It would seem that our present economic breakdown goes beyond be-yond the proper distribution of income and earnings, which of course contributed to the disturbance. It appears that the vast expansion of business and industry went beyond the available monetary reserve upon which the credit structure was built. More money is needed so that the people of the world can purchase the ever increasing necessities of an advancing standard of living. We do not mean fiat money or money without a sufficient and" adequate ade-quate reserve, only a money that will be accepted as a medium of exchange. Until recent years silver was always accepted as monev. Win-no Win-no t return it to its former position.' |