Indianapolis Times, Indianapolis, Marion County, 28 February 1949 — Page 10

"$1.10 & month, Sunda: Gow TAght and the People Will Pind Their Own Woy

4 ga

desirable, we think, to keep one branch enough so that its members can discuss |

| :

EN) ERG was wise in insisting that the Senate

months is unjustified. In fairness to American ors and the British

facts to be that Britain has made better than any other lafge nation, that by ce austerity she is near a balance but still far short of a dollar , Marshall dollars for food and raw materiwill lose most of her.gains to date, in

pull herself would be as stupid.as it is improbable.

, ge

—_. s. indeed, large: 19 billion. But those dollars are not already been borrowed-—by the governas used the money to pay costs of its own

they are invested in government bonds, “on the treasury is paying about $500, million a year n ‘interest. The bonds, of course, are as safe an invest. as there is in the world. If part of them were turned : cash and used for building homes the government ———syould-simply have to berrow -an-equal amount of cash ' somewhere else. Mr. Reuther’s prefabricated housing idea is interesting and deserves careful study. But even if it were desirable to finance such a plan, involving a large element of risk, with social security funds, it wouldn't be practical

Pay ] Ye. Truman to correct tices in the military pay scale should be approved: est ranking enlisted man—now known as a “recruit” in the Army, but still called “private” in the “apprentice seaman” in the Navy—has picked increases totaling 400 per cent since 1908. The has had only a 10 per cent inOther officers also have been

alizing Milit

cited before the House Armed

[

these percentages. He said he had been generous to

| With the Times EADERS OF THE PSALM

R | TRU fdas 5 pin, Esp, rag | SAYS Sit eo vs mae se | NSPE 1 ure of the group. He replied tht me oma ho SPECIAL

The audience hesitated and old minister arose and sald, “Do you know the XXIII a al oor os, TO

to Roun by my Booed for wondly sings > y my or wor! : Strayed from my unthinking heart and jealousy, | “™ wad QL BYR TT Stolen by vain thoughts and selfishness,

th Ey { .” We a Ye ; e's Calling. Us N

J ) ' 4 ; 1

INTERESTS"

Ever TH ING.

Federal Reserve Board serve requirements and on

NATIONAL ECONOMY . . . By Peter Edson

Credit Buying Curbs Defended

WASHINGTON, Feb, 28—Pressures on the to ease up on bank reinstallment

;

restrictions have been hot and heavy e the current rules were announced last Sept. 20.

And a popular-topic's the flu— of total embarrassment, Just think of shch statesmah and hero .- Engendered in month No. Think, too, of the prophetic groundhog; to build a happy Bom. : The Valentines hedped at your door; re a ' LOOK at the bright side!

We've a pretty good month, of a sort; | * @ you're thankful that—even as I am— It's short! first person who says, “Only «HARLAN LEACH, Fowlerton. months until Christmas.”

WORLD AFFAIRS . .. By Jim G. Lucas

Allied Pact Crisis A GTON, Feb, 28—Best informed military sources nore AHN first few months after the North Atlantic pact od will be crucial, . il then, they expect the Russians to do everything in their power-short of war to delay or block #t. They expect ‘pressure on Scandinavia in particular; plus-a tightening of. the Berlin blockade and perhaps an attempt to upset the Italian non-Communist coalition government, They also may try to upset the French cabingt nd leave that nation rudderless while the pact: is being nego . But onee it is signed, they say Russia will be faced with a 4 hard decision, If there is a strong “warinow” faction Tn the | politburo, it can be expected to make the most of the situation. The Russians will know that the die has been cast, these sources say. They will understand—-in terms they have always been able to comprehend—that the western powers are determined to defend their borders and to arm to that end.

War Not Expected

THE BEST informed quarters he

bility than before. In the months after before military ald can be sent those fortunes to ours—they expect a bad case of invasion “Jitters” . in many western European capitals, The facts are, they say, that western Europe will be unable effectively to defend itself for several months, and perhaps a year, after the Atlantic pact is signed. Viscount Bernard Montgomery of England, commander of thelr “uniforce,” might be

a few well-trained "Belgian and Dutch troops, and bring in a division ‘or two from Great Britain, That would not, they concede, be enough to hold. .

No Russian Advantage i NEVERTHELESS, these sources say the situation is not as advantageous for Russia as it might appear. Even though Soviet armies—and they have 50 mobilized divisions with another 100 in

= = i : 2

Marghal Montgomery's uniforee, they believe cooler heads In the

ON THE JERICHO ROAD And now that FRB Chairman I am walking the Jericho road of life; McCabe has told the Joint Congressional Com And which traveler there will I be? - mittee on Economics that he favors extension The one who lies wounded and nearly dead? and some enlargement of credit restrictions, the The one who passed by nor turned his head clamor may be expected to increase. A suffering brother to see? ~~ ‘The case of the used car . an example as any of what is Lord, make me & Samaritan, a Ap he a Too thas Who eases a n . in the United States. Today there I must toll, I must share on this Jericho Road, | Reasons for this nearly six-fold “Know the joy of lifting another's load, fairly obvious. In the hopes of making a killing or ot ain, In the postwar market, without price controls, =-HAZEL 1. DANNEORER, Xow Oats. the number of used car dealers has zoomed far above what will be required to handle the nori SORROW mal turnover of used cars in a stabilized market. t. Proverb: “Sorrow-she "In the process of shaking down this business an. greatest | 1 proper aise, & lot of enter dealers with sod Jig an and enough capital are To eta Eg i. Tey at the onek> Th Sota I'm sure mi . To be an ioral Boserys 0 relax on Hotuittoions Walk too much with her! credit restrictions, It now prescribes that car Sey : Ea Shida nd the Da JUST FOR A WHILE $1000, or 18 months if the price is over $1000. Give me the bright lights, just for a while, . - ON 11 other lines of furniture and Then bring back to A a anels . Its soft, mellow light on my chatr. | Barbs Give me the big crowd, just for a while; IF we knew how short the future is to be hat sah of gt ge folk; 2 Wa spend Jess Hime Worrying about the past— Ving and faithful friend sant \aking Sood care of presen Give me gay pleasures, just for a while, A lot of kids don't know that there is no Let me sing, let me dance and have fun; Ager & shirtage of wlotbte hangers Then bring me back to my everyday tasks, To my books, to my dreams, When work's 3 BANSAS {Was S308 Bis herd af: cows . bread. 3 o-oo BI Ee A Just for 3 Walle, A DOCTOR says sickness costs a billion and

That the years have made dear to me. People something they ke to talk about. Os wide of tise ath 16t 1s rowm; | THREE Michighn boys swiped a brand new Then bring me back, wien my wakhderings are | Sedan. We know where they're o'er, i To the peace and contentment of home. ° * & o —~ESTHER , Seymour. ANY GIRL with money to burn has a cinch g . nding a match, * + + ~ FEBRU-WEARY? A TENNESSEE man had his trousers torn Though the mercury lingers at zero, off in a traffic accident. He was left just shorts

® & 0 DESPITE the costs today, it's really easy

We'll have good old spring just as soon as the weather gets warm

WE SUGGEST solitary confinement for the 10 more shopping

COM. 9 a SE, TM 8. PAT, OE reserve ready in 30 days—might be able to overrun and crush | “I naw A beyond our means, but with a television set like at, we wou

Maurice Thorez, French

appliances down payment must be one-fifth of the purchase price, big the time limits are the same as for cars. In considering any relaxation of these requirements, Federal Reserve Board has to feel its way carefully. One line of argument is that the big down payment works against a hardship on people of low income who may have the worst need for cars and home furnishings. Another approach is that since the supply of higher-priced cars and furnishings has now

For the protection of consumers, however,

the board must consider whether it should allow

buyers to go too deeply in debt while the prices of. all goods bought on the installment plan are high. If a real depression should set in, all such

“timé purchasers would be caught in as bad a

way as they were when the crash came in 1929, Looking at the figures on all consumer credit 1g in 1948, Regulation W may appear to have done little good. Total installment credit risen from $2 billion at the end of the war to over $8 billion at the end of 1948. Viewed from this lofty pinnacle of debt, it can be argued that Regulation W wasn't made tough enough to check this particular inflationary pressure. , Helped Keep Prices Down BUT IT IS believed to have done some good. It has eased some of the big demand for all lines of durable goods in short supply, and so has helped keep their prices down. In a recent 8000-mile swing through the West, visiting Federal Reserve Banks and branches, Chairman McCabe says he found overwhelming support for continuation of Regulation W. Also, he found support among bankers for continuation of and extension of Federal Reserve controls on bank reserves, These two actions, it is felt, have materially helped .in changing the economic outlook, The is ina sounder condition than

it has ever been. The banks themselves have

done a lot of self-policing. There has been no stock market spree. And controls can easily be relaxed if the financial community gets in

v trouble, +

Not Prepared for Change A

SIX MONTHS ago everyone wanted an adjustment and a reversal of inflationary trends. But now that these things are beginning to be realized, it is being revealed that not ail businessmen were fully prepared for them, For perhaps the first time in eight years, retailers have real competitive merchandising problems. Cus-

tomers aren't willing to take whatever is dfferd’

them. If the price is high, they demand quality. If they can’t get what they want, they're willing to wait. - Instead of merely sitting in their stores and taking or filling orders when the customers roll

in, merchants now have to get out and sell. If |

in this approach to a buyer's market the creative forces ‘of thescountry again have to go to

work, competitively fighting for business, it is bound to be a healthy-thing.

battle-ax.

up with demand, there might be some | cine = : un ent caused by-inabil--ity to sell because of credit restrictions.

| Best-Seller Material -

from 14,904 to 9409 since 1946? And which hopes still further small reduction in personnel” next year How many other government agencies not only pays thelr own way, but also make money for us taxpayers? Mr. Warren sald modestly ;

tellectual A aetual gob. the community save time for ; their house cleaning, and a very few, (the more fanatical), have taken time from their primp-

E : i E

BER i FLY i i si

23% 8 i Ht 13:8 il Hr iis

£ § gk g : |

| Esk i: { gg it

i : fi 5

| | ! |

: EE BE z :

i i fz il Hh

| | 3

‘Build Civic Auditorium’ By J. W. Barnhart, 6701 E. 14th St. Here is plan No, 176,423 for paying bonus: Let the Legislature authorize a bond issue for the building of Indianapolis civie auditorium, to be called Auditorium or some other appropriate name. Use a portion of the income from said auditorium each year 3 rel bond isus and a portion to go into

What Others Say—

WE -are-forgotten men in a land of plenty, We are prisoners in the land of our birth. Robert Yellowtail, Hontana Sow Indian leader,

IN ORDER not to show anything brutal om the screen, most movies end as the couple is about to get married—Jo Stafford, radio and

screen entertainer. Fre

I CAN assure you we will not surrender out right to the Communists.—Sun Fo, Chinese pre«

® o o CHRISTOPHER COLUMBUS was a pirate in the Frénch service.—Tivadar Acs, of the Hungarian Academy of Sciences.

NEW KIND OF BUREAU ...By Andrew Tully

Surprise, Taxpayers WASHINGTON, Feb. 28-Lift a - something you thought you'd never live to see—a overimant agency that sometimes doesn’t spend all the money it gets, This paragon among our bloated bureaus is the General Accounting Office, and by sheer coincidence its unique virtues were brought to light at the same time the Hoover Commission decided things at the agency ought to be changed around some, General Accounting is one of the few government agencies that doesn’t have a press agent. So all it could do was turn out the best job of public relations this town has seen since Charley Michelson scalped Herbert Hoover for the Democrats. Only General Accounting used the approach genteel instead of the

Where else, for instance, are you going to find a ent bureau which, without being asked, cut its ah employees ?

to make “a

out so many places

J i. shires the general, all-around penny-pinching that gobs on . Warren's outfit, the last five sald Mr, Warren, the agency has a million i priations, Said it couldn't use the money because it was “unable - we can't afford!" What kind of : ; Communist leader, which Have been | ing Office saves Al Jcitoent to Prouch Reds 10 tie

ke up nst trymen and on the side 'of the | “happy to: report : : Soviet it war should come. To aviod legal charges of | current appr Shit #TY VI Sbaorb $1 million

treason, M. Thorez posed his

: 1

§ £ 8 E

§ 8

HEL! lik;

FH her)

tim