Wilmette Life (Wilmette, Illinois), 11 Aug 1938, p. 17

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-- -- the risic. Large scale spénding anTd Where's Point of Collapse? continued unbalanced budgets. in- Exactly how much longer.ý the crease the risk to the investor and Fedieral government can Continue make himn les willing tl tkeit its borrowing-lending..spending pol- Must, Boost Iuterest. icy and avoid1 national bankruptey The res-ult is that the governrnent I do not know. Reputable. econo- must increase the interest rate and mists, those generally considered shortentemauy That beL experts on public finance, have cornes.neeessary in order to main- sharply differed. iinopinions as to tain a market for the investrnents, how large a public indebtedness to make them more invÀting. Long- our national economy can stand. termn low interest bearing bonds The point of collapse under the are refunded wîth shorter-term stress and strain of an unbalanced higher interest bearig bonds. And budget has been ýplaced at widely shorter-termn higher-interest Iearing difterent indebtedness figures, bonds are refunded by stili. shorter,. It, can only -be pure conjecture term and stili. higher-interest- bear- where the Ibreaking point will be. ing :bonds. So on and so on, un i 1 do not believe any one cèan de- the bonds are mn default and our termin:it wth accuracy. We know whole national economy is ini a SUNNYCANE OR U,~VIII~ JUMR JBAG U Theii. w N. oag LISBYS LB BG 9c TOMATO JICE..1-Z A SULTANA SILVER SKILLET ýQUEEN Corned Heef Hash., 2 ,c'3ir25C OLIVES RS QT. JAR 39c Marshmallows, L.'AG25 SUILYANA NECTAR RED- Orange 'Pekoe Tea ï:29C there is cot as to howx the national without col] a great ext element of] publie confid ýconomy will ;e is determi tby the iritai lie confidence. ce is a factor be measured is therefore t ess. z ouIows trom a policy o1 ýs borrowing, continuous and increasing indebted- kKAY Boost Taxes Of simP1y refund4ing.. 1 one boan by making an- CARNATION. PET o, 13OR- DENYS MILK 3 'rLL10c DEL MONTE PEAS CRACKERS .B . BOX 21( DEL MAIZ Cream Style Corn, 2 17 23c MISS WISCONSIN PEAS. ..2NO. cANs 23c "4*ucruuj irlley Procedure is followed,1 it is -thE The important« fact is that we American people as a whole whc are pursuing. a policy which is im- suifr. niinently dangerous. HJistoric ex- That is what faces us., There js Sperience has shown that to be true. only one other method that the SIt is a policy which- adds more governmentI could employ. That is and more stress and strain on our'to economize! It is the procedure national economy. Ultimately the which the American people should collapse cornes. It mnay be this1 demand. It is the one procédure year or may be next year. No Icertain to remove the stress anc 4one knows. One of the major de-1 strain on our economie system anc termninng factors is publile enfi- rmni-n"ri-c are easel paintings in oil avenue, I. or SWISS STEAK. B 3 3c

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