Evening star. [volume] (Washington, D.C.) 1854-1972, 1949-07-26
Senator Pepper and President Truman
Held Correct in Their Economic Views

Held Correct in Their Economic Views
To the Editor Of The Star:
Your July IA reprint OF the debate between
Senator Byrd and Senator Pepper on deficit
financing is timely in this period OF pol1tl-
cal and economic confusion. The American
people and their Congress are free to follow
the fiscal policies advocated by President
Truman and Senator Pepper. or they can
follow the policies advocated by Senator
Byrd and the economy bloc In Congress. We
are free to choose either course. But alas!
We are not free to escape the consequences
of our decision.
What are these consequences? We can
follow President Truman up the road to
prosperity and peace. or we can follow Sen
ator Byrd down the road to depression and
war Why is this so? It Is so because po-
litical economy is compounded of the COM
ponent of government and the component OF
economics. When these two forces act in
parallel, economic trends are accelerated.
This is equally true whether the trend Is
toward initiation or def1ation. The natural
consequence of business and government
acting in unison is a violent f1uctuatlng
economy that continually passes through
cycle of war, Development depression, ana
war.
The basis Of alarm always being sounded
by Senator Byrd Is the huge public debt and
the danger of the welfare state. The Gov
eminent has been operating a welfare state
for veterans for generations. Actually. the
huge public debt Is blessing in disguise.
The national debt not only serves as the
basis for the credit and money for vastly
expanded national economy, but it also forces
the Government to act in opposition to ousl-
ness to stop the boom and bust price cycle
it advocates. With business and government
forced to act in opposition rather than in
eto y will
wisely used, the national debt can be en-
ployed to end the cycle of war. development
depression, and war.
President Truman has demonstrated his
moral courage and sound common sense in
reversing himself on taxation. To pay of the
public debt he has no choice except to re-
verse himself on fiscal policies at each
change in the economic cycle.
JOHN FRANCIS LOVEJOY.
AAUP Statement on Academic Freedom
Said to Be Two Years Old
To the Editor Of The Star:
BY his recent letter to The Star, John A.
Lacey shows that he does not have enough
interest In his professional organization, the
American Association of University Profess
sors. to read the publication which comes
with membership or to take part in the local
meetings. II he did he would know.
/. The AAUP statement. given wide press
coverage was merely reiteration OF the
statement published as part of a long report
two years ago in the Bulletin.
2. The Committee on Academic Freedom
and Tenure prepared the report.
g. The membership originally approved
the report at the ST. Louis convention in
l947 and again at this years convention in
Washington.
T. The members of the Committee on
Academic Freedom and Tenure are college
professors known for their political conserva-
tism rather than radically progressive be-
liefs.
S. The Qualification" is inside the covers
Of Mr.. Lscey's own magazine.
He shows a fine ignorance Of newsgather-
ing. This story was really live news when
the Association met here, but the wire serv-
ices and local reporters were asleep then.
It's appearance now probably means that
some reporter. little slow on good copy,
thumbed through the Bulletin containing
the proceedings Of the national meeting,
saw the report on academic freedom, and
made his story look like new stuff by COM
pairing the AAUP stand with NEA.
M. s. H.