The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1942-01-22
Facing The Fdc+s
With PHILIP PEARL

America neeuS more guns, more
ships, more tanks and more warplanes.
| To get these, it needs more industrial
| production, more labor more ma
terials and above all, more money.
How is the nation going to get this
money? President Roosevelt explained
that very simply in his annual message
| to Congress. Taxes and bonds,' he
said, "and bonds and taxes"
Taxes hurt They hurt the working
man more than anyone else. Once you
| pay out your money in taxes, you Will
never see it again.
Beyond this, is the obvious fact that
| the Government can never impose taxes
heavy enough to raise the 36 billion
dollars the President has set as the
cost of the victory program in the next
fiscal year. That sum is half of the
estimated national income. The Gov
ernment can't tax to that extent with
out crippling the country.
| The only other solution, therefore, is
| borrowing. which means bonds. There
are many kinds of borrowing. The Gov
ernment could get all the money it
wants from selling bonds to banks, but
that is dangerous. Experience shows
that when the banks become overloaded
with Government bonds imitation re-
suits. And the one thing that America
and each and every one of us cannot
afford right now is sky-rocketing in
flation.
But there is another kind of borrow
ing that is safer and more feaSibe--a
constructive and thrifty form of bor-
rowing in which each of us can play
his part.
America Asks for Help
We refer, of course, to the defense
bond program. Under that program,
the Government is asking every one of
its citizens for Il loan. Such an appeal
needs no slogans to sell it to American
workers. 1t needs no arguments. When
America asks for help, we would feel
like traitors if we refused
But there are some aspects of this
defense bond program which need
Qualification so that the workers of
America who depend on their weekly
wage for a living can understand why
it is so vital that they set aside part
of that wage each and every pay day
for the purchase of defense bonds.
That is why we are going to venture
some explanations.
AS soon as the defense bond program
got under way the American Fedora
ton Of Labor went to the Treasury De
partment and bought $4,000 worth of
the bonds. Right down the line, atfili-
ated national, international and local
unions followed suit. Many of them
would have liked To buy more than
100000 worth. But that is the limit
any organization can buy.
Now these purchases amount to a
sizeable chunk of money, from our
point of view, but it is only a drop in
the bucket compared with what the
Government needs. The Government
does not need millions 1t needs bill
lions. 1t does not need lump sum pur
clases which end where they begin. 1t
needs IL steady and continuous flow OF
funds week after week. 1t needs your
81 or So bills week after week. This
kind of money from the millions adds
up to billions much quicker than 81 ,OOc
bills from the few that can afford such
purchases.
Sign Up Now
So don't buy one or two or three SO
bonds and think you've done your bit.
That isn't what the Government wants
1t isn't what the Government needs. In |
order to do your part you should sign !
up at once on an allotment plan by |
which whatever sum you can afford |
will be deducted from your pay each
week toward the continuous purchase
of bonds. Go to your union local and
your employer and tell them you want
10 do this You will find them anxious
to cooperate. And don't be content with
assigning Il mere one or two per cent
Of your pay for this purpose. Make 1t
five per cent or 10 per cent, according
to your means and your responsible
Ties. Surely, d worker averaging $40 or
$50 Il week can afford to turn over "a