Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-06-05
Ho,u to Pay For the War
President Yale Universi.y.1

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sition Of productive power thus d.
| verified could probably be from 90 per
cent to 25 per cent. And this proper
ton is likely to increase rapidly as
time goes on. For each new man that
we send into the field we must call
upon more munition workers to keep
him supplied, more seamen to man
the ships more miners to produce the
coal, more railroad trains to haul sup
plies from the interior Of the country
to the seaboard. Instead of devotihg
a fifth or quarter of our labor power
to war purposes Of various kinds, we
shall almost certainly have to use a
third, and may have TO use half.
Must Go Without Thinsss
How is this loss to nc made ups
How is the country to live with third
or half OF its labor power devoted to
war purposes? No system of BANK
credits. however well devised, will
meet this difficulty No scheme Of
taxes and loans will tighten the ag-
gregate weight of the burden. Those
Of us who are left at home must in
crease our production and lessen our
consumption in order to have men and
supplies available for fighting.
The nation can increase its produc-
ton in two ways-by employing new
labor, particularly the labor Of women,
and by speeding UP the old labor to d
higher grade Of efficiency.
For the moment, therefore we must
lay our chief stress on reducing our
consumption to war basis. We must
obstain from unnecessary expenditure
in the way OF comforts and services.
We must avoid waste IN the use Of
necessary things like food and fuel.
Savings Arc What Help Most.
A subscription to the liberty loan, or
the purchase II war savings stamps,
which is based on savings Of this sort
is worth at least twice as much to
the country as one tina. Is based on
bank credit or on sales Of securities.
The man vino has borrowed money
from the bank has simply promised to
contribute to the liberty loan. The
pays for it. The man who sells stocks
or bonds in order to contribute to the
liberty loan Is merely converting one
kind OF property into another. He
makes it lit.ls easier for the govern
ment to raise capital and little
harder for corporations whose WORK
may be almost as essential to the
safety Of the country as that OF tho
government itself. The man who buys
war savings stamps. but does not pay
for them out of savings, contributes
little to the government.
But the man who has earned his
money to subscribe to the liberty loan,
or who has saved his money to put
Into war savings stamps, has helped
to meet the real cost OF the war. II
he has increased his earnings in order
to subscribe, he has furnished the
country some of the labor power 1t
needs. II he and his household have
diminished their consumption In order
to subscribe, they have saved tho
country some Of the supplies It needs.
The surplus Of a workers earnings
over a workers consumption repre-
sents an actual net income available
for war purposes. This Is why it is
even more important to have loan
widely distributed among the people
than to have It taken up by large cor
porations. 1t means that we are doing
what we pretend to do; paying the
real cost as well as the money cost OF
war finance.