Milford chronicle., 1950-09-29

mony MOIey, well known commentator,
recently described a text of this nature.
'Ihe introduction" says Mr.. MOley, clears
the presumptuous claim that the book pro-
vides students certain basic tools of analy-
sis" It is a compilation of articles accom-
panied by the authors interpretations. "The
net Of all these articles" declared Mr.. Mo-
ley, 'is that competition is dying or dead,
that few corporations control economic
life, that only the state must be allowed to
save us, and that government planning is
essential. This was and is the philosophy
of British Socialism" There was no effort
to include the views of those who disagree
with this thesis. Open advocacy of ideas
is one thing, but presenting those ideas
while wearing cloak of judiciOus impair
TALLY is the height of hypocrisy and de-
serves nothing but contempt Textbooks IN
schools and universities have become a faV-
Orlte medium for weakening convictions,
destroying faith in the individual and open
ing the door to mass coercion. Freedom of
inquiry is basic right. It should be ex-
ercised by parents as well as professors.
Our institutions of higher education which
enjoy freedom of expression and action
should be judged more critically on their
textbooks and their teachers, with the
thought OF UNFOLDING instead of undermin-
ing American traditions.
5000
THEY CAN STILL TURN BACK
More than a decade ago forty or fifty
billiOn-dollar Federal debt was considered
by many to be ruinOus. The fact that the
country has progressed" far beyond this
point and the wheels still keep turning
raises the question of how far the debt
can climb without resulting in economic
collapse. Many people are no longer con-
cerned simply because the debt has scared
to astronomical levels with no apparent i'll
effect However they would do well to con-
slider this warning. There is no mathemati-
cal formula to determine at just what point
In an infiatiOnary spiral we pass the point
of no return" Deficit financing almost in
eVtably means initiation because the gov
eminent has to finance the deficits either
by printing money or selling treasury obi
cations to the banks both of which increase
the amount of currency in circulation. If,
at the same time; we do not have q CORE
spending increase in the supply of goods
and services, we will have imitation, which
means cheaper dollars. The reason that
we have nc mathematical formula for deter
minging how far along this road we can
travel without disastrous consequences is
that we are dealing with the changing and
unpredictable climate of public opinion" In
a democracy where the Individual is suppos-
ed to have freedom of action, this is espe-
cially difficult to analyze. AS long as the
mass of the people have faith in the sound
ness of their money and the credit of the
government, all is well. But if and when
the mass of the people lose faith in their
money and the credit of the government,
disaster is not far away. The Federal gov
eminent for many years has lived on deficit
financing while giving the people the illu-
sion of expanding SecuritV THROUGH "lihnra1'
welfare programs costing billions of dollars
At present the dollar is worth half the value
of a few years ago. Whether the point of
no return has been reached can only be-
answered by the actions of individual citi-
zens. They can still turn back.
5000
NO MATTER WHOM IT HURTS
lit is an unfortunate fact that no one
hi.h 81, Naturalization c;.cIas boz s.,c.c..st.l