The midland journal. (Rising Sun, Md.) 1885-1947, 1941-11-07
WHAT rs INFLAT1oNq
BY J. q. Jones


In the dictionary and you will find
that imitation Is "disproportionate
and relatively sharp and sudden in
crease in the quantity of money or
credit, or both relative to the
amount of exchange business.
Imitation always produces a rise In
the price level".
There have been sharp increases
In prices of the necessities and lux
uries throughout the country. In
dustrial banking loans have de-
clined 1873 per cent in the past few
weeks.
Constant efforts are being made
to put ceilings on prices but the
methods employed by Administers
tors Ickes, Henderson and others
have not been convincing--and there
fore not successful. Besides, Con-
gress has temporarily shelved the
legislation to provide ceilings for
different articles commonly used In
our everyday life.
The average citizen is not &C.
quainted with the scientific reasons
for imitation. But all Of us boast of
our "horse-sense" and that quail
fies us to detest the fact that dol
lar doesn't buy as much in the stores
and open markets as 1t did year
go and two years ago. That means
that there Is some imitation through
out the entire country at this time.
When IT gets bad enough there Is
danger that a depression like that
of 1892 will knock things into a
cocked-hat.
When the question Of imitation lie
broken down to common under
standing one finds that the Federal
Government is trying to cure the
imitation threat in its early stages
That would stave OF major sur
gical oeration on all the banks OF
bitter memory, in 1888.
In "the good old days" when the
nineteenth century was drawing to
close the National Government
kept its hands of the imitation pa
tient and left 1t up to the public to
work things through. But things
have changed--you know, 1t!
More Bridges To Cross
Why review the record of the
past two years? You have read that
story many times. Congress 10 'back-
ing-up" the President and the State
Department, and these heads Of the
Administration insist that the at
lacks of German submarines upon
American ships have been 80 reck-
less and inhuman that they call for
every precaution to protect our
ships on the high seas.
AS this correspondence is released
from Washington 1t seems perfectly
clear that Congress will okeh the
requests of the Administrator for
nearly billions Of dollars for Ma
tional Defense and aid to England
and Russia. Congress will also au-
thorize the arming OF merchant
ships. It may now--or it will later
on--repeal the present Neutrality
law. That is as far as your CORES
pendent can go at the present time.
When the Germans score sue
cessful week the Japanese pressure
increases in the Far East, and it
has threatened to blow on steam
several times In the past few weeks.
The administrator In Washington
has laid or on "appeasement" for
Japan, and served notice upon that
Nation that as long as 1t maintains
its alliance with the Axis that 1t
need not expect amy let-down Of the
program of the Washington Govern
ment to continue its 2-ocean defense
program.
However, the war spirit and the
war backing Of the public is in
creasing throughout the Nation.
What about the future? The proper
answer is found in the old slogan:
Don't cross the bridge till you
come to it''.
Contract Distribution
Attorney General Biddle has CIV
en- his approval to the movement of
business companies who wish to