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Show Can Spend Money for Peace Some people are terribly alarmed about the volume of money being borrowed by the Federal Government. Govern-ment. They lose sight of the fact, pointed out by Walter Lippman, that while Federal loans have increased in-creased considerably loans by j states and other units of govern ment have been far below normal, that the total volume of loans by government in the aggregate are probably not more than would have been oorowed in normal times, ' although the smaller political units and not the Federal Government would have done the borrowing. In effect, the Federal Government i; botrowing becauso it lias the credit M;d much of its expenditures are in the shape of loans which will be repaid. Those who are agitated by the extent of Federal borrowing should think back to the days of the World War. This struggle cost the United States between $40,000,000,000 and $50,000,000,000, spent in less than two Jars. However, because the country was prosperous, half of this amount was paid with current taxation tax-ation and only half through bond issues. If the Government could borrow bor-row some twenty-odd billion dollars then, none of which was spent to build up the resources of the country coun-try but all for purposes of destruction, destruc-tion, why can't it borrow aa much money in a time of depression to keep its people from starving to death, especially when by far the larger part of the expenditures is for constructive purposes, investments invest-ments which will pay dividends in the future? |