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Show IPS Released by Western Newspaper Union. CURRENCY IX CIRCULATION AN INFLATION DANGER TOO MUCH CURRENCY IN circulation cir-culation can be, and usually is, a major factor in the birth of inflation. infla-tion. In World War I our currency attained a high point, in 1918, of less than 7 billion dollars. Today it stands at over 25 billion, and is steadily and rapidly increasing. In 1918 there was sufficient money in circulation to provide each of 130 million people with a bit under $50. Today if all our Currency, and currency does not mean wealth, was divided equally between 130 million people each would have $192. Such a difference would not seem to be dangerous, but practical economists realize it is very dangerous. It is a danger that is growing at the rate of about one-half billion a month. It is largely large-ly a result of the purchase of government gov-ernment war bonds by the banks. If the people would buy bonds out of their savings, and keep the bonds, the banks would not buy, and would not have the collateral against which to issue bank note currency. It is a question of whether the banks buy bonds with the savings deposits they hold, or the people do the buying direct with the savinpc thpv havp nn deposit. The safer way is for the people to buy. HOW AMERICA LOOKS AT PROSPERITY DURING 1933-34 and '35 JONES had an average earning of $10 a week. He lived on that. During 1942-43 and '44 Jones' earnings increased in-creased to $40 a week. In the same time living costs increased possibly by one third. Did Jones, or whatever what-ever name he may have, save the difference? The chances are that he did not. He has enjoyed, and will continue to enjoy, prosperity while It lasts. When the war is over and with peace comes an end to the flush times of war, as may be the case, Jones will be looking for a government shovel with a seat attached at-tached to the handle. Such improvidence im-providence creates its own difficulties, difficul-ties, but we, as a people, have demonstrated dem-onstrated to Jones that he need no think of the future, that the government govern-ment will provide. YOU HAVE KNOWN AND helped the improvident man or family who had trusted in the Lord to provide, and you have been God's messenger. messen-ger. You have continued to help until un-til your own resources dwindled to a point where you could not go farther. far-ther. So long as you helped you were their hero, a benevolent friend. When you quit you became to them all that was vile and unworthy. Uncle Sam has played the part of God's messenger to the nations and peoples of Europe. He rescued them when their own improvidence left them stranded. The day will come before long when his lack of resources re-sources will compel him to quit. Then he will again be, as he was following World War I, an unscrupulous unscrupu-lous villain. TWENTY LADIES DIFFER WITH REPRESENTATIVE PATMAN REPRESENTATIVE PATMAN of Texas said in a speech in congress that the housewives of America unanimously endorsed the action of OPA in cancelling the red and blue stamps the housewives had saved. The representative said that rather than resenting that OPA action the housewives approved it despite the fact they had been assured those points would be good for the duration. dura-tion. Shortly after Representative Patman made that speech I, as a lone male, accidentally broke into a woman's party in my home town. The one topic of conversation on the part of the some 20 ladies present was the incredible action of OPA. It was unanimously condemned. No one of them would ever again believe be-lieve any promise the government might make. All would use their ration points as fast as they became good, regardless of family needs. Could it be possible Representative Patman's statement may have been a bit exaggerated? Were the 20 women I heard the only dissenters in the United States? MAIN STREETS OFFER MORE THAN CITY STREETS THE MAIN STREETS of America are far more interesting and sociable socia-ble than are the Broadways and State streets. On Main street you can stop for a friendly greeting, an exchange of information as to the families. On the Broadways or State streets' you are but one of a hurrying hurry-ing throng with no opportunity for seeing or greeting a friend should he pass. They contribute only the hurly-burly of night clubs to the social life of a people. I much prefer the Main streets. UNSUNG WAR HEROES ARE DEAR TO US ALL TO EACH OF US our most ardently ardent-ly worshipped heroes of the armed forces is one, or more or ali of the G.I. Joes. Each of us has our own personal description of what they are. My own are expressed about as follows: fol-lows: They constitute the force that gives the army driving power. They are the works that make the army tick. They are those who issue no orders, who have only to obey They are the army of which all America is proud. |