Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1945-01-11
/ Might Be
WrOng--But
WHILE FAR BEYOND the
p. G. STROMBERG

Government as outlined in the
Presidents message to Congress
are figures which it is well for
all Of us to contemplate. Not
to study but merely to try to.
get an intelligent impression of
what the, ceun-
The try will face
National after peace is
Debt won. In order
to get clear
picture Of the great figures all
one needs do. is realize that
when our defense effort was
begun in 1910 the national debt
stood at less than forty billion
dollars. BY leaps and bounds it
win reach, by the end of the ifs
cal year Of 1946, TWO HUN
DRIED AND NINETY TWO
BILLION DOLLARS. That is
an increase of more than seven
times. It means that each man,
woman and child in TIE country
will owe in excess of $4,000. 1t,
means that an average family Of.
four will be mortgaged for APP
proximately $4,000. 1t means
that the interest charges alone
at the rate of TWO PER CENT
win be nearly SIX BILLION
DOLLARS. That interest charge
is in excess Of the entire federal
expenses in any year prior to
1880 (except war years.. It
means that the country's fin
ances will never again be
at a level low enough 70 permit
any Of Us any real exemptions
from Federal taxes. ,t
That's the darkest side We
can, envision. The debt limit
probaD, has not yet been
reached. The higher it goes the
higher taxes win be in later
years. But the mere fact of its
existence forces all of US to new
thinking and conclusions. Ten
years ago any
292 Billion man who had
By End the temerity to
OF 1916 predict that by
1916 this coun-
try would be carrying a national
debt Of 300 billion dollars would
have been adjudged insane. Of
course there were none so bold
nor one possessed of such imagi-
nation. But we have the debt
and we are running at high
speed. Just how the load can
he carried and liquidated is a
problem for our people to solve.
Certainly the debt will never be
handled through return to old
ways of doing business. 1t can't
be met by reducing the rate of
pay to labor. It can't be met
Wy big employers laying off labor
eeause there appears a pinch in
IEssiness. It can't be met by
FstTeee-s.-:-...ant because there will
be fixed obligations which re-
trenchment will not touch.
1t can only be met by active
business and full employment of
all our people. We have seen
how regular pay keeps the
wheels of business rolling. With
the wheels of business rolling
smoothly there is no question
but. that the peo-
Cannot Be pie receiving
Met By regular pay will
Retrenchment buy the things
III they need. The
national income viii have to be
maintained at high level If we
are to. be able'to extract-sufficient
taxes to underwrite the big new
expenses. Incomes, high and low,
will be taxed for payment Of
the great financial price VIC will
have paid to maintain our free
institutions. Perhaps this fea-
ture alone will tend to inculcate
a higher degree of patriotism, a
healthier and more intelligent
understanding Of democracy and
a consequent more active and
energetic interest in public
affairs whether LOCAL, state or
national.
I cannot pass without giving
expression to the satisfaction
which must be General MacAr-
thurs. When he said in 1912
"ITl be back" he didn't know
when but that time has come