The Waterbury Democrat., 1933-02-02
Imitation Boon Or Curse?
EDITORS NOTE-This is the third of four articles discussing currency imitation, pro and con.
BY RODNEY BUTCHER NEA Service Writer

NHA SepVicc WFltep
 Copyright 193 NEA Service Incl
 WaShington-fnfiation reduces tho value of all money. That is why 1t affects every man, debtor and creditor, rich and poor And that is why you hear 1t talked wherever you go.
 Suppose you drop into the oor- ner cigar store on tho way homo from work. Two men arc talking inhation. One, Mr Pro, iB for it Tho othor,l MT Anti, ig against t. Their arguments run like this, ana 1t runs about like this right on up to tho senate and the White House:
 MT Pro: Well, I toll you, some' things got to be done. The farmer is on tho rocks. The dollar is so high, or crop prices arc too low it's just two ways of saying the samo thing-thnt ho can't pay with today'S dollar the dobts that no m. cured in 1929 with tho dollar what it was then. The way to do is to put out moro dollars, 50 he can pay
 MT Anti: Got any money in Pro: Ycs, got $500 in the First.
 Anti: As soon as they infate the currency 100 per cent you'll have S250, at least in terms Of what you can buy. If imitation does what they say, and prices rise, every dimo you've saved in the last three years k cut Just that much.
 Pro: I laid away that $500 back in 1929. I guess # prices rise some, attlt n xuhAPA II tUnR Tn lDXU. They tell me my 1929 $500 ii worth SOO6 in living costs right now, and $s2b in farm prices. How About Salaries? Anti: You getting Q good salary Pro; Fair. I got $50 Q week. Anti: I suppose you realize that if currency iB inflated 100 per cent and prices rise that much, you'll practically Do getting $26.
 Pro: Well, my pay'il Do raised in proportion.
 Anti: oh, yeah? Pro: Well, they aren't going to initiate 1t any 100 per cent, any way.
 Anti: That's just tho trouble You can't tell. They may not ai first, But that's what they thought in Germany, and Russia. And they went right on infating until the wholo thing bust. Suppose your farmers pay off those debts, and find they have to pay twice af much for binders, and seed, and labor. Then what? More infia. ton.
 Pro: No, think 1t can Do con- trolled. Besides, the business man stands to make money. He cnu put up his proces the day money ii inflated, to match. But he won'l need to raise wages except as gradual process. Big corporations with fixed charges like bond in' terest will Do saved from receiver. ship; because they will take ir more dollars, and 1t will be easy to pay their interest and get rid of their debts.
 Mir and Mrs Coupon Anti: That's 0 break for them all right, but how about Mrs Cou' pon, the widow down on oui | block. She's living on the interes of the bonds MT Coupon left hei when he died. That interest will bt paid in these cheap dollars, ant her income will be cut. How about the local university with its bont endowment? Can it run on hal pay?
 Pro: Sure, it'll be tough on them all right, but this is. tough situa' ton all around. Somebody's got tt get hurt. Plenty are getting hur now. If Mrs Coupons got an, common stocks or owns any rea estate, the prices of those ough to keep step with the dollar.
 Anti: I happen to know she hat quite few of her bonds default al ready, and one of her mortgages was sold out at a big loss to her.
 Pro: Well, if there isn't infie' ton, there'lI be wholesale bank ruptcies. She'll be better off a that.
 Anti: I don't agree. Defatiol is a disease, and it's bad enougl but your cure would be worse thar the disease.