Show PURCHASING POWER OF THE DOLLAR As measured by the index 01 of the United States Department I of Labor the purchasing power powei of the dollar is now fifty per percent percent percent cent greater than it was n ii l ll l is some consolation tion for the man who has haa has his salary or nis dividends re re- 1 in the meantime because because because be be- cause it means that he can go out and buy fifty lifty per cent more morein moreIn in the way of commodities with the same amount of money than it would have been possible pos pos- sible for him to purchase in l i This Tha h of course cou is small consolation for the fellow who I is out ot of a 00 ob ir tr for fOl the plan man who h holds sto stok k oil on which dividends have be been n passed en- en I uray jor i or the bondholder how however however howver ever ver with good securities it ii ns that a bond which was wasp I p paying six per cent in in 1929 ra i is still a good security no noVo I I pays hay the holder virtually n m per her cent so tar as the purchasing dIg ing power of his interest is isco I co concerned I There is not so much consolation conso lation in this however for the theman man alan who was in iu debt in 1929 end ind nd has been struggling ever since ince to get out of debt The dollar today buys more wheat but it will pay no more on a I mortgage than it v would I have three years ago and the dollar is b 1 much m dl harder toh to fI p.- p. i hew h ow th tic Jt t t we- we then thC 1 f f And lid while iule ha h declined d c considerably oil ML 19 B there ia is i one important t item in the average mans man's bu tret iet which has actually nc increased ed rather than declined That i j the item of taxation The th United States State government go has j n n compelled to increase taxes t es ec b-ec because use of the g revenue And in the case of the states and smaller units of government go there has been icen no decline in taxation which 1 would in any way match the decline in commodity prices It Itis Itis Itis is true bue that the sentiment for I state and local taxes is The tide is rising and it can now be predicted fairly safely that in most of our states and communities there here win will be real and it is to tobe tobe tobe be hoped effective effort to decrease the cost of government government government govern govern- ment during the ne next net t few Local governments should save in the purchase of mater mater- als used for repair and construction con con- due to the decline in he commodity price index There is a tendency also to decrease the salaries of loc loeD r I in line with the deCrease de- de rease Crease which has just been made in federal salaries and itis it itis its is s also likely that public in the various states counties and cities of the county county county coun coun- ty will vin be more closely scanned luring the next few years Tax associations are springing springing springing spring spring- ing up on every side and eVel everywhere every everywhere Y where we are now getting propaganda for lower local taxI tax tax- es Years ago we were launched n an orgy of spending public is 18 well as private It seemed that the public held an almost inexhaustible reservoir of money and credit But now v we ve know differently and we are Beginning to realize what it means to pay the piper If out f the present mood for retrenchment retrenchment retrenchment re re- comes a sober realization real realization iz of the fact that for foi years ears ears we were traveling at too fast a pace and if this can be reflected yin plainer and more sensible government local aswell as af aswell well as national then it will viII be indeed true that we have gained gain gain- ed something out of the de de- Experience is still alard a alard alard lard teacher but now as before before before be be- fore it is the only instructor to whom a great many people will agree to listen |