The Waterbury Democrat., 1941-10-09

fare that government ADOPT sane
financial practices. With ma
tional defense program that will
demand utmost sacrifices on the
part Of every citizen; 1t is not
too much to ask government to
make sacrifices commensurate
with the demands Of its stock
holders, our citizens.
AS the reaching changes
which the defense program has
set in motion are now taking
form, a number of basic facts are
discernible. They should be
squarely faced and carefully an
alyzed
First and foremost, the huge
program of rearming America is
now, and will in the future, de-
mand the fullest utilization of
materials and most complete d.
version Of labor into those chan
nels that will make possible the
accomplishment of this objective,
To this end, citizens and govern
ment alike should and must lend
their support by working toward
the objective, accomplishment of
which will mean inconvenience
and deprivations.
Only Necessities
Every item purchased should be
q necessity; every non-essential
should be eliminated. Every time
that this procedure Is not follow
ed, 1t simply means that so much
material and labor that could
otherwise We diverted to national
defense is being expended for a
selfish purpose.
There Is still another reason
why this procedure should be fol-
lowed. 1t forms the basis for our
second basic fact. II Is an unde-
niable truth that we are now in
the very precarious position Of
having embarked on an initiation
any cycle that can, unless met i'm
mediately, lead TO the ruination Of
our economic system. II is not
necessary to here cite the disas-
trous effects that accompany in
flation with them you are well
acquainted. But, we all can and
must do our part In stopping or
at least alleviating the full effects
OF uncontrolled price rises. Al
ready one expedient, that Of price
fixing Is being reSorted to. The
success OF the program however,
depends upon us. 1t revertS back
to the previously mentioned point
Of reducing, insofar as possible,
every non essential expenditure.
The law Of supply and demand is
elementary; but, the full implica-
ton Of extreme applications OF 1t
are not commonly respected or
understood. 1t should be unneces-
sary to state that citizens and
government, unless they cooper
ate by reducing spending for nom
essentials, cannot avoid facing
the alternative OF ruinous infia-
ton.
Third, there Is the problem Of
footing the national defense bill.
The coming year will bring great.
ly increased income taxes that, IN
many instances, triple and quad
ripple amounts previously paid.
Moreover the best thought on the
subject tends toward the opinion
that this lis only the beginning,
and that future months will see
increases even in these rates. To
American industry and TO the
vast majority Of American citizens,
this burden is worth the sacrifice
if it means the salvation Of our
Democracy. However, with this
heavy burden upon our economic
system, coupled with the present
reduced profits of many non-de-
Tense industries, many Of which
will be forced to close their doors
for lack of materials unless some
salvation is forthcoming, 1t is not
too much to demand that govern
ment make every possible effort to
tighten the burden.
Look To Future
Finally, We must start now to
look toward the day when, after
the present rearmament efforts,
we will be suddenly met with the
release Of some ten-millions of
men formerly engaged on defense
work, by some million and a half
soldiers released from our tempo
rary army, and all Of this with an
economic system strained and
national debt of such proportions
that 1t would be foolish to even
venture to guess OF its eventual
extent at this time. Then, the in
creased expenditures of govern
ment necessary to meet the public
welfare burden, plus the necessity
OF retiring an eXorbitant public
debt, and all at time when the
national income will have dropped
abruptly and revenues sharply re-
dueed, demand the serious consid-
Grafton OF every citizen now, lest
in our zeal to protect democracy
from invasion from without, we
permit Its defeat from within by a
collapse OF Our economic system.
What can local government do
to assist In the solution OF these
problems7 First. local non-defense
spending should be cut TO the
bone as q means Of releasing all
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