Show i Ih i ii ir r F i r ra ThEN B AUL LO Released by Western Newspaper Union WORRY ABOUT POSTWAR AR JOBS W Everyone seems Inclined to worry about postwar jobs A guiding line of national thought has been established in that tion The President is talking and congress is acting as if there may be widespread unemployment unless unless unless un un- less great steps are arc taken Stock anticipate some kind of depression Some large investors have gotten out of the market in hi anticipation The CIO is making politics out of the situation educating the public to believe there will be no jobs for returning returning returning re re- re- re turning soldiers unless their man gets into every office In some degree all the tho front page news of speeches and statements statements statements state state- ments reflect this outlook outlook outlook-an an outlook which is strained and fanciful when measured against r the provable but not widely recognized recognized rec- rec t facts The truth is bank deposits have been rising lately at the Frate i F irate rate of a week- week cash in the hands of the people is being stored at that amazing rate The total of bank deposits now is above In addition there is yes billions of cash held outside outside outside out out- side the banks The amount of cash thus stored by the people already in this war waris waris waris I is above good long green money with no j jI I strings on it a stack higher than J I the people ever held before nearly 2 times as much as they had in inthe inthe I the big boom year of 1929 I j AN UNPRECEDENTED RISE RISET J T The he dean of government economists economists economists I mists E E. A. A of Federal Federal Federal Fed Fed- eral Reserve said in a speech to i ithe the Illinois bankers last week the unprecedented rise in bank deposits deposits deposits depos depos- I its would reach between and by the end of this war He estimated war expenditures to date at Now In addition the people hold war bonds already amounting to more than bonds which can be spent for war post-war spending Thus the amount of money and bonds in private hands today amounts to more than practically the same amount as the government has spent on the war It may be unbelievable but it is true true the the private purse today al already already already al- al ready has swollen to the unprecedented unprecedented unprecedented dented fatness of the government war cost so far and this trend will continue It will be by the end of the war As everyone knows furthermore the people are short every item of living Together this vast hoard of ot the peoples people's cash and the equally vast backlog of the peoples people's needs constitute an irresistible force for amazing business Indeed this force is so great the problem is the opposite opposite opposite op op- op- op of unemployment and depres depres- s- s sion KEEPING PRICES DOWN The job ahead is to keep prices down scarce materials allocated equitably and buying orderly so as asto asto asto to avoid a runaway inflation In short instead of a government spending program there must be a peoples people's spending program not designed designed designed de de- de- de signed to get them to spend but butto butto butto to restrain them to orderly spend spend- ing Instead of there being anything anything anything any any- thing in the CIO political claim that there will be no jobs for the soldiers unless their man is elected the truth is there is a danger of business bidding for labor no matter who is elected to any office I know one of the government economists has told congress there will be unemployed Another Another Another An An- other is saying the first 18 postwar months will see let out of the armed forces and probably more lose their jobs in war plants by the cessation of work I But they are counting the trees i without even seeing the woods or orthe orthe orthe the long green leaves thereon which practically reach up to to the sky What they only really see is a problem problem problem 1 lem of a shift in employment a technical problem of readjustment under an irresistible tible dynamic economic economic eco eco- 1 force which belies their wor wor- ries rles J PROBLEM NOT SPECIFIC There will be many women aged and other workers who will win want t to retire from the industrial field and many soldiers who will not desire their old jobs back but will want new ones fully half will seek new employment in my opinion The The- farm boy who has become a flier will not want to go back to the plow or the machine gunner to the shoe shoe- store The labor problem therefore therefore- will be specific not general not unemployment unemployment unemployment un employment but shortages here herer surpluses there |