Milford chronicle., 1955-08-12
INF1ATIONARY DANGERS

in the pleasurable glow of prosperity re-
Gently received jolt, warning that things
were not SO rosy as they seemed.
Employment in England is still high, the
danger of a depression is remote. The pre-
scription for its economic woes, falling gold
and dollar reserves with weakening of the
pound sterling, are a series of austerity mea-
SureS.
These include curb on easy instalment
buying, reduction of bank loans to citizens
and businesses alike, and a showdown has
been ordered on home, school and other con-
struction except that related to production
of power or of export goods.
These have been accepted by the House OF
Commons without protest. The Members OF
Parliament realize that in todays competi-
tive world Britain's ability to pay its way
must remain unimpaired, confidence In the
pound sterling must be maintained.
The United States is observing England's
situation. Production here continues to in
crease, thus keeping in check the infiationary
trends seen in England. We have not been
plagued with labor troubles such as the dock
strike which crippled Englands export trade
and shook confidence in her economy.
But installment buying in this country is
at an extremely high level, the stock market
at dizzying height. Price advances in steel
and other metals are added indications of
new infiationary influences.
Apparently there is no need to worry
about a depression now. But the inflationary
drifts are developing. Now is the time to
act against them.
Several Federal Reserve Banks have been
raising their rediScount rates, which makes
it less enticing for banks to grant easy loans.
Others are moving in that direction. The
stock market has been taking this news in
stride, going down little but without any
sign of panic. This means the economy as
whole is strong.
But strong things crack under too much
weight. The aim is to keep balance.
&So&%
THE PROBLEM OF CHRONIC ILLNESS
Family and public unwillingness to face
the facts plays large part in the problem of
what to do about the 100000 Americans
suffering a long-term disability or illness.
That is a finding of the Commission on
Chronic Illness, an Independent national
agency formed jointly by the American Hos
pital Association, the American Medical As
sociation, the American Public Health Asso-
citation, and the American Public Welfare
The Commission has been studying the
problem for five years, and has just issued
a preview of report which will be published
later. 1t is clear that much remains to be
learned, as is to be expected with a problem
of such complexity. Before a solution can
learn the reasons for existing unsatisfactory
care of the disabled, along with why these
patients are often lackadasical about using
health services already offered to theIn.--,
The Commission also makes a number of
important recommendations concerned with
improvements in personnel and education,
research and financing. These, it said should
be carried out by communities, voluntary
health organizations, professional and edu-
IndI HI1al
physicians and teams of workers represent
ing all the sciences involved. A central clear
ing agency should be established to supervise
and stimulate research on chronic illness.
Financial needs, it went on should be met by
expanding present plans such as voluntary
health insurance, workmens compensation
and philanthropic programs. However, it OBJ
served, until adequate expansion of this ma
ture takes place there is no alternative to
the proposition that the public must bear
the cost.
BLACK ISN'T WHITE
The cancellation of the Dixon-Y Yates con-
tract, under which private enterprise was to
build a S106,000,000 plant to feed electric
power into the IVA system which in turn
would transmit it to an Atomic Energy
Commission installation, has been ballyhooed
as q victory for the socialiZed power cause
Inc L ItSiucIC CoHCclieu TIE COIlIdCt lOT Tile
reason that the city of Memphis, now IVA
customer decided to build a 0,0OO, 900
municipal plant of its own, as a result, IVA
wouldn't need the Dixon Y ates production
The ballyhoo, obviously, marks an at
tempt to make political capital of what has
happened. 1t certainly has small basis in
fact The Presidents position was and is
that federal power systems, such as IVA,
should not be enlarged with the money of
all the taxpayers when local groups can meet
local needs. If Memphis wishes to go deep
into debt to build power plant, that is the
business of Memphis citizens
The Wall Street Journal expressed view
widely held in informed and reasonable cir
cles when it said, Memphis will build its
own power plant and no longer will taxpay-
ers from all over the nation pay to supply
Memphis with cheaper electricity And that
was a defeat for those who support TWAS