Milford chronicle., 1962-12-28
Taxes and Initiation


ton retires, forecast that we will
have either more taxes or m o e
initiation. Neither, however, d
come in 1868. The stock market
may discount the expected infla-
ton by temporarily continuing a.
bove 900 on the Dow-Jones Indus
trial Average. The November cleo
tions indicate that the voters want
welfare state" and l believe this
means more initiation rather than
more taxes.
The old saying, I'VE cannot have
our cake and eat it too" is GER
tainly true today. The elections re-
ferred to above indicate that the
majority of voters really believe
they can have all these temporal
benefits such as medical care for
the aged, medical and hospital pay
ments, more social security, etc.,
without having to pay the bill
either through increased taxes o r
through initiation.
With all that is promised to
young people in the form of free
education, college scholarships,
etc., in addition to the above mem
toned help, this means that the
employed people from ages 25 to IS
must carry the entire burden.
Sometime they will rebel, but 1t
will not be in 1868 although i t
might come at the next presiden-
tial election. Certainly the enact
ment of a real all-inclusive tax
cut is no sure thing. 1t may look
good to the working man" but not
to investors or employers.
The United States Dollar and Gold
The purchasing power of ou r
dollar will gradually be less, but
this statement applies also to the
currency of all countries. If our
dollar declines in value lit will be
the same for every nation. If we
devalue the dollar or temporarily
look prosperous by phony book
keeping, the other nations will
gradually follow suit and we will
all wind up where we started.
The dollar will not be devalued
in 1868, although the Wall Street
and Lombard Street brokers will
put out propaganda to the contrary
Now, a final word with regard
to gold. The United States will con-
tinue to lose gold on balance dur
ing 1868. The only way to prevent
it in 1868 is for us to export more
goods and import less. This would
/ require certain sacrifice on tn e
part of our people.
Since my trip to Africa, have
concluded that the answer is n
producing more gold rather tn an
leaving it underground. If gold
had a free market, it's production
would increase naturally and i [
would then represent one of t h e
safest and more profitable invest
ments available today. Another one
may be uranium oxide.
Of course, large quantities o
gold may be found on the surface
of the moon which brings me to
my final subject, which l hop e
readers will take seriously.
Going To The Moon
Nobody will reach the moon in
1868 or in 1864 but you will see
more and more about it in t h e
newspapers during 1864 or 1865.
Do not think that the United States
will be the only country preparing
| for this trip. Russia, England, Ger
many, France, and possibly China
are preparing today to go to the
moon. With labor getting Is cents
for a twelve hour day in China
and with booster engines purchas-
able abroad, China may be the
first to get to the moon. China does
not need to be a member of the
United Nations in order to send
a rocket and three men to t h e
moon and return. China's "trip to
the moon may be financed by
foreign capital China will win the
territory it wants in India and ul-
timately get Burma.
Buying of going to the moon"
stocks may become a very active
speculation. The original boosters
will be paid for by some govern
ment, but their operation will be
left for profit. The situation may
compare with our great ''g o d
rush" in 1849. However, it will not
be limited to gold, but will also
include diamonds, platinum In d
perhaps other elements which are
not yet in our chemistry books
My great-grandpare were all
seafaring men taking people rom
New England down the East Coast
of South America around the Horn
and up the Pacific Coast a trip
of two months. The astronauts say
that they can make the trip to
the moon easily in less than four
days. One final thought: If t n Q
Kennedy Administration gets into
too much of jam between taxes
and initiation, the promotion f
trips to the, moon may pull them
out of their troubles. By enticing
private capital which is now in
need of some attractive speculative
investments, this might even bring
about another big stock market
boom in the late Sixties.