Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1942-07-02
Help To Avoid Initiation

In the July 4th issue or the Saturday Evening fosI
is an article by Harry scherman under the capuon oi
"Inyisible Greenbacks. The article has copyright
hence we cannot publish it. The writer points out
that imitation to this country II VIII DC pe
cause the people are Fool enough to permit it, Ev-
ery imitation in history he states, has had the same
nrime cause namely an enormous sudden increase in
the money used by the people.
The government must have money With which TO meet
ire bip war expendtures and if obtainable in any
other way it must create money,--what the "rlu-
er refers to as invisible greenbacks 1t is the new
money that makes imitation, and that is what the
government guarding against. In order not to nave
tn jssue new money it is necessary to make use OF
monev already in existence, and much as we can
spare, invest it in War Savings Bonds The arucle
goes on to These multitudinous little sins OF
omission easily add up to as much disaster as any
thing the Germans and Japanese can do to destroy
American civilization"
We should keep in mind that the government, Tor
a purpose, is taking the hardest possible way to raise
the money which carry the 1t would be
a very easy thing for the government to issue new
greenbacks and flood the country with them but such
would lead to imitation.
The government has set goal of twelve billion
dollars War Savings Bonds to be sold to individual
citizens this year and hundreds of thousands of work
ers busy night and day. without pay in the job OF
persuasion r. X. Brown is chairman of the War Saw
ings Committee of this county, and there are many
other workers urging the purchase of War Savings
Bonds and Savings Stamps, and they are all giving
services gratis, for this patriotic cause, in en-
deavorng keep the total of invisible greenbacks to
the possible figure. Let remember that ev-
cry dollar neglect to lend the government compels
it to borrow "nvisible greenbacks' from some bank
to make up for perhaps delinquency, in not put
ting more of our earnings in War Savings Bonds
These bonds in small denominations and don t
the idea that because not able to buy more
than one two the smallest bonds which cost
$1S.75, that such small amount, compared with
appreciated. Danish all such thoughts There are
Suppose just half them purchased of the s1s75
bonds, what large sum would be realized. We
should remember that Uncle Sam is asking us
to hand the money for War Bonds without inter
They the best, safest, and patriotic in
vestment in the world today.
The thing for individually to grasp is that when
purchase government securities, money
that is already in existence AS stated, the govern
ment must raise enormous of money. Besides
the sale of War Bonds, billions will be raised by in
creased taxes and other sources, which would not be
n1ationary. But that will not all of the vast
expenditures and the is that rs billion dollars
will have to be obtained by selling government
ties to commercial banks. While such an increase is
not desirable, it would necessarily be dangerous
unless it be beyond the wartime necessity.
To it up, in order avoid imitation the govern
ment must avoid the issuing of money beyond
certain amount, and in order to keep it down. duty
is to put into government bonds every dollar we
can spare of money now in circulation.