The Hickman courier., 1919-09-11
SOC DOLLARS
Bonds Must be Held by Original Pur-
chaSers to Break Even.

Commercial Appeal II has been sug
/ seSted that IL i good business To al
low prices To remain high in order that
| II may pay off its obligations with 90
| cent dollars.
True the government thanks to
some Of the cost-plus contractors and
others who robbed the government. did
not always get dollars worth for
dollar spent. But that j. no reas son for
the government in turn 10 rob the peo-
pie That would be a twofold robbery
of the people. for. after all. who are the
government once il enough
While IL has been said that no gov
! ernment would dare collect all taxes
through direct taxation. because no
people would be likely To submit. II
Is inconccivable that the government
of the United States would lend itself
20 such scheme as that suggested in
the foregoing Ii would be cOwardly
| in the first place. fraudulent I'm its
own behalf. oppressive of the many.
and mjustly advantageous 10 those
who make the most Of the situa tiOn 10
: extort inordinate profits.
II has also been said that sales OF
Liberty and Victory bonds represented
no real outlay on the part of the peo-
pie That may be- true insofar as large
purchaser of bonds was concerned.
Large purchasers as a rule simply
passed the credit along To their banks.
and the banks In turn passed II 10 the
federal reserve system. which In turn
issued its notes on the credit of the
United States government. With the
small purchaser the ease was different
They had no credit they could lend
and swap with the government. They
ding mp the dollars they had salted down
Now they are told that because of the
large issues of government credit
which they. 10 the extent Of their cash.
assisted in absorbing their dollars have
dcpreciatcd
There j. just one way that the man
or woman who has paid for war bonds
can break even. That way il To keep
them until dollar Is worth a dollar
| When they pass to other hands they
are being paid for with J0-cent dol
u lars. Those who acquire them with
JO-cent dollars will one sweet day cash
| them IN 20 the government for dol
lars that are worth dollars.
Buy less II l. the one sure way 10
clip the wings Of the profiteer. 1t Is
ssi. q =; 49, So s's = 7sss| s
IL Is too late II Is hoped the govern
ment may see fit 10 use them II may
be that the government. If driven TO
the extremity. viii attack unfair prof
| its in basic way.
The wheat guaranty is the backbone
OF the prOfiteer-break his back by pur-
chase and resale of wheat The scar
city, more fictitious than not, Of raw
materials and manufactures and Euro
pean demand. also grossly exaggera-
ted. have been made the excuse for
D. ffrlf Ia cI..
be assured fair prices before any ex-
portable surplus is allowed to leave
| these shores
The federal reserve system has been
erected upon the idea OF making COM
modify values spendable. or negOtia-
| bic as basis for quick credits. This
has made boarding on an enormous
scale possible. t. e., the incredible stocks
now being carried by the packers Cuc-
ahy was fined s.. 300 the other day for
violating storage regulations i'm a large
number of cases. Some products had
been in storage for more than year.
Hoarding is an enemy of fair prices.
The federal reserve system assures
the business men OF America that they
need never fear another currency ia
mine. One purpose for which the sys-
tenn was organized was to keep bust
| ness within the bounds OF sanity by
withdrawal of currency when the sup
ply exceeded the legitimate needs Of
| business
| High prices are dangerous and too
much currency invites disaster. The
| twin evils encourage speculation and
| extravaganza and are opposed TO
thrift. We are rushing blindly into a
beautiful panic. 1t may be forestalled
by social and Industrial disturbances
now brewing The ounce Of prevention
is prompt and proper handling of the
price question
Buy less, Take slant out of the
profiteer. He Is doing his best TO
bring about a national disintegration
for his own private gain. Hit him a
| ma triotse uaIlopf Ruv 1esSf