The midland journal. (Rising Sun, Md.) 1885-1947, 1945-11-30

His fashlight beamed on the prob
lem Of production as the root Of all
economic evil. Delay and curtail-
ment of it by strikes and otherwise
boosts imitation, he said Gas it does,
because slack production makes
more critical the shortage Of goods.
which in turn causes higher prices).
The current brakes upon pro-
ductiOn also should make US
wary Of giving away what goods
we have to foreign nations, espe-
cially those like England, Czech
oslovakia, France and Russia
(he mentioned these specifically
in his meagerly reported letter.
because by giving-away, we re-
duce what production we have
available to fight imitation.
He got off his own beam on two
other points, it seems to me. He
said tax reduction also threatens in
fiation, without recognizing that
reduction in the vast Truman spend
ing budgets projected publicly for
the next 20 months is the first logi-
cal way to curtail the government
fiscal threat.
SPENDING REDUCTION
A spending reduction in an infla-
tionary period like this is certainly
more important than the meager tax
reduction which continues war lev
les at nearly 80 per cent Of war
levels.
Also he lit once upon a rubbish ar
gument when he worried about our
farm and mineral resources along
with Interior Secretary Ickes, who
is nearly always bad company for
seeker Of objective economic truth.
with all these nations owing
ms money, we should be able to
stock up ON deficient minerals
(if the administration would de-
vote itself to this); and most
people are Dragging about the
ability Of Agriculture Secretary
Anderson to get the farm pro-
+. duction Strengthened out from
its war mess next year.
Mr.. Baruch's cleaning eye could
have gone further and the veil could
have gone higher. Fundamentally,
honestly and basically, what are the
tap-root causes of the condition we
are in? There is but one.
The world is being presumed into
political economics, domestically
and internationally. Here especial
ly we are striving to do the right
thing politicaIly-but not the right
thing economically.
In international affairs, some cru
saders want US to give things away
for political reasons. Mr.. Attlee is
coming over to urge us, according
to his inspired press, to give away
the atomic bomb.
WHAT ATTLEE WANTS
In my well-advised opinion, MIR.
Attlee is not much interested in the
atomic bomb, but primarily in get.
ting the money, delayed, from US
anything up to over five billion dol.
lars to set his financial house in or.
der so his Socialist party can buy
industries for his own purely polit.
ical purposes.
He has never made out an
economic case Of government
need of these industries for any
other than his purpose to prove
socialism. He has presented us
with no prospectus of reconstruc-
ton for Britain showing how she
could use our money to make
more business for us or her-t0
expand production.
He has not offered his people
any sincerely conceived pr0duc.
ton plan along these lines. In
deed, he does not think along
these lines, but on Socialist po-
litical lines.
What this poor sick world needs
is to get away from politics and
back upon the beam Of realism in
economics. By throwing away the
atom bomb or money in bad loans
for political purposes, we can de-
stroy the world.
I promised to try to demonstrate
by objective analysis the same root
causes of our own troubles domes-
tically-namely that we are being
high-pressured into political eco
nomics, into decisions for political
effect rather than what is econom-
ically right and necessary.
Mr.. Humans latest wage-boosting
plan is program to increase gov
eminent employees by 20 per cent,
congressman, cabinet officers and
others even more than this amount.
At time when the President is
worried about infiation-an imitation
caused hv thu SHORTAGE of Goods.