Historical Newspapers of South Carolina

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^AQI SIX THE Paying'nie Nation^ Debt Roger W. Bebaon SuggeaU How It Mey Be Done. CHRONICLE Babbon Park. Maas., Sept. 22.—I hare Just returned from a conference on the National Debt. It was pointed out that dnrins the CooUdge adminlBo tration the entire Federal expendl* •tures, Including the Army, Nary, pen* slona and the sak aiies of all the bureaucraCa, a* mounted to only about |3A00,0O0.0O0 annually. In the postwar years the servicing of the debt alone la eatL mated at $5,500,000,000* annually with lars. Shortening the working day to “spread labor^ is no different from killing little pigs and plowing op cot' ton. I am d^bted to have Thomas E. Dewey talk about “new frontiers,“ but he apparently ignores the fron tiers with the greatest opportunities of all, namely, the intellectual and spiritual. • , President. Roosevelt says that the League of Nations failed because It lacked “teeth.** The simple truth Is that It failed because It lacked *'re- liglon.“ It Is still Impossible to make a silk purse out of a sour’s ear. A spiritual awakening Is needed to raise not only our national income but the income of the entire world. Our dif ficulty is that we consider only the seen things, such as land, forests, mines, harbors, etc. and entirely over look the greatest of all natural re sources. namely, character, brains, initiative. Imagination, courage and an anticipated total tax btU of $26,- 000,000,'600 annually. To make our government bmds good, and certainly in order to pro vide Washington with the needed postwar funds, will require an annual national income* of at least $126,000,- 000,000, and perhaps $160,000,000,000. Bach reader can figure this out for himself remembering that with gov- «*rnnient receipts this y^r of about $46,000,000,000 and goverfflnent spend ing of about $90,000,000,000 we are able to get on only by increasing the debt about $46,000,000,000. In the depth of the past depression the national Income was around $45.- 000.000,000. This was gradually in creased to about $76,000,000,000 In 1939. Since then, wholly by war busi ness. this national Income has Increas ed so that 1944 will show about double 1939. I do not expect to see the na tional income go back to prewar fig ures, but only a miracle can keep It up to $125,000,000,000. Ehren at, this figure It will be Impossible to balance the budget without taxes so high as to cripple industries, put a ball and chain on new enterprises and cause much unemployment. Hence, it truly is of great Importance to keep the national income up as pear as possible to pres ent figures. Unless our Federal Budget can be balanced In a reason able time without further borrowing, we 'are sunk. Of course, the simplest way, tem porarily, to double the national in come Is through Inflation. By doubl ing 1939 prices we can double 1939 wages and double 1939 profits. This, however, would work only to the ad vantage of the holders of'certain real estate and common stocks which miglit.* likewise, double in p’‘ice. Otherwise, it would be only a shot In the arm, like the temporary stimu lant from a strang cup of coffee or a drink of whiskey. Yet, it la the easy way and Congress may ultimate ly adopt it. The real solution lies with consider ing the national income other than in material terms such as doHars. The great opportunity today lies not with merely utilizing more land, employ ing more labor, and loaning more doi- wiUpower. *rhe greataat- of all un developed natural resouroeo are the brains of a. little child, and 7400 of these are bom in the United Sta^ every day. .It is wM to have our soUs produce mere food ^ acre, our coal to pro duce more beat units per ton, and to speed up our znachiDery and alrplanea. but the greateat' opportunity lies In developing these nnseen factors. Every school child hss the potentiali ties of a Thomas Edison, or a Henry Ford. Instead of a few there should be 100,000 sneh men. Then there would be no worry about national in come or Federal debt. This could J>e done through a spiritual awakening. *rhen we all would concentrate - on 'making better people instead of fight ing over what now exlata. I hope every reader wRl clip this column and turn It over to hla preenber, physician or school snperlntendent After the almost incredible dirty dealing innocent peoples have suffered at the hands of the Japs, the Yanks are coming through for the pay-off! And that meant, ~dead or alive”.. unconditional surrender! Help by backing our boys every "way you can. The very lives of our men depend on the War Bonds'you buv! Roxy Cafe DeKalb Street liberty to the Enslaved i . Peoples In the hand of Libercy, the Hags of -the United Nations are a flaming banner of freedom for the* liberated peoples of Europe, too long burdened by the yoke of Nazi oppression. All glory to the fighting forces whose unfailing courage has*’ brought into being the Victory which now thrills i lovers of democracy around the globe! All glory to their leadership, governmental* and miljtaryj .which conceived and executed the strategy of Victory. All glory to the peoples of the United Nations who found no sacrifice too great for the final defeat of Nazism. For ’*VVe Americans" there is still a final battle to be won: a final enemy to render impotent-^Japan. Let^s not diminish our efforts and sacrifices, so that (Liberty's torch may forever brightly burn — never again to be i '' / threatened by force. ston Motor Co ■ ^ j •