The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1933-08-31
Editorial

Editorial
The last line of resistance to the
MIRA program is being broken this
week as consumers are enlisted to
buy under the blue eagle. With out
much doubt the public will respond to
the patriotic movement and put the
unemployment campaign overtime
top with something akin to wartime
vigor.
1t is improbable that there will e
any violence worth mentioning. 1t
is discouraged from headquarters and
most of us remember well the fulfill
ty of some of the demonstrations
which accompanied the war.
But the public understands the
simple principal that hiring more
men reduces unemployment and on
that principal the program stands.
Every firm than can use extra help,
even if only part time, should do so
in the next few weeks as evidence Of
wholehearted cooperation and faith
in the program. If it succeeds we
will all reap the benefit; it is only
fair that we should all help it sue
coed.
So =
A lot of people will tell you
that if people saved their money
in good times there would be no
depression today. It isn't so. If
people hadn't spent money free
and easy there couldn't have
been any good times.-Lake Will
son Pilot.
The above is a popular fallacy with
which few economists agree, at least
in normal times. Money spent or
dinarily goes to make prosperity but
money saved and stored in banks is
loaned out to persons who need it for
spending and contributes as much or
more toward prosperity. Buried
money is about the only money that
is not in use in normal times al
though postal savings deposits are
little better since they are shipped
out of the community where they be.
long.
One factor which will hamper the
buying drive is the hesitancy Of
bankers to make loans even on securi.
ty which few years ago would have
been considered ample. This is due
to many things the frozen assets
which led to the banking crisis were
once considered good loans; even
though we appear to be headed out
of the depression, there are pitfalls
which might imperil new loans; the
public might go on another stampede
When that danger has passed, banks
will forget some of their desire to be
liquid.
But the major factor baking small
loans which would play such an i'm
portant part in recovery is that a
great many people have used the de-
preston as an excuse to let their
obligations slide. Those who could
not pay and went to their creditors
and laid the facts before them and
asked for gentle treatment, got it.
The fellow who didn't will find the
task of rebuilding credit is long and
painstaking. Credit is a jewel worth
guarding.
We never questioned Congressman
Lundeen's sincerity in condemning
the economy bill in regard to veter-
ans compensations until he attempted
to use the issue to build a national
farm-labor party. What injustices
were done to soldiers most assuredly
should and will be ironed out but
Lundeen could not possibly have
found more indirect, cumbersome,
impractical and well nigh impossible
way Of getting at the solution than
the approach he is making.
Two strangers working in the yici-
nifty of Fairmont recently are known
to have collected at least 500 fol
fake insurance. Dozens of persons
right in this section have beer
"stung" on marvellous magazine of.
fers, the only joker beng that they
did not get the magazines. A few
months ago when wine bricks were
bootlegged quite freely, some of oul
fellow citizens made down payments
on some compressed spirits that new
.er were delivered. But the old rack.