Palmer, Alaska
Dorothy M. Bell, Editor
Published once
the purpose of
A
a reek for the Matanuska Valley Farmers’ Cooperating Association for
giving ners of the association’s vork, problems and accomplishments.
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THE' PEOPLES BUSINESS - BY JERRY VOORHIS
Sxocutivo SecretaryfCooporative Leaguo
of .America
i
Hou long rill the inflation iast? No one knors exactly. But the spree rill probably go
on for'at least another year. Military expenditures, heavy exports, rrong monetary
policy, rrong tax policy, price control by monopolies and too feu cooperatives are some ,
of the reasons.
The higher the flight tho harder the fall; the higgor the inflation, the mare certain
and severe the resulting depression. Bit no sign appears that anything effective ui 11
be done to check it*
The cause of inflation is: too much monoy, too littlo goods, Tho Constitution says:
"Congress shall coin monoy and regulate tho value thereof*" Congress does no it be r of
theso things. It permits tho private banking system to manufacture America’s money'in
the form of chocking accounts and to loon it into circulation at interest* In 1947,
our 674 biggest financial houses mado profits after taxes of 68$ of thoir capital, Tho
banks uill go on manufacturing money as long'as it is profitable to do so* The Sbdoral
Reservo Board reports an increase of 513,000,000 in monoy in circulation for the ueok
ending August 18th.
But there rill come a time—there alrays has—rhen the feu pouorful banks'decide that
money—their stock in trade—is "too cheap." They *11 stop creating money, bogin call
ing loons, and the toboggan rill start.
This is rhy our money'system is. rrong. Cut groat country could spare itself both in
flation and deflation, if uo onforcod t ho Constitution and it our money rerc created
scientifically by a central bank belonging to tho people and required by lar to create
just enough money—and no more —to match the products of goods. This rould give us
tho stable dollar rhich farmers especially have pleaded for through the years..
The ray to prevent inflation is to keep the banks from creating too mcuh money. Marrinor
Eccles proposed measures to do this. They rero rejected. Instead Congress put curbs
on credit to lorer and middle income consumers, but carefully exempted roalthy purr
chasers of expensive items.
Tho ray to check inflation is to tax heavily enough to take surplus money out of circu
lation. But Congress has actually reduced taxes and thereby voted for mere inflation
at the very hour rhon our country desperately needs to reduco its staggering national
debt,
If ro rare in earnest about fighting inflation, ro’d either change the money system
cont. on page 3
PALMER AUTOMOTIVE ■SERVICE
SPCCIALIIING IN
CAMraSTOa-OHIT3RATOR & ELECTRICAL FLAIRS
MOTOR REBUILD
VALVE GRIND
3TROUT STD ALIGIflGNT
"3FLAK5S HELBT3D
MOTOR TUITS-UP
BODY & SENDER IMPAIRING
COLLETS PAINT JOES
AS AN ADDED SERVICE FOR OUR CUSTOMERS
By CLIFF McKENZIS *'
RADIATOR REFAIRS
T73LDING
CHILTON FLAT RATE PRICES
EXTUIATES GLADLY given
ALL FORD GUARANTEED
,rYCURS FOR BETTER SERVICE"
Ken Roberts, Prop.