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To secure the former many plans have been suggested, most, if not all, of which look to me more like inflation on the one hand, or compelling the Government, on the other, to pay interest, without corresponding benefits, upon the surplus funds of the country during the seasons when otherwise unemployed.
Two months ago one could not get near enough to see this queer inflation, but now the frogs do not seem so shy. Garter snakes wiggle through the grass down the bank of the creek and the crickets are just beginning to chirp the love chorus which is soon to swell incessantly till the fall frosts come.
We all know from recent experience what runaway inflation does to ruin every other worthy purpose. We are slowing it. We must stop it cold. For many Americans, the way to a healthy, noninflationary economy has become increasingly apparent. The Government must stop spending so much and stop borrowing so much of our money. More money must remain in private hands where it will do the most good.
The only way to maintain ongoing success, however, is to constantly innovate. That's much the same in all endeavors. The only way to continue making money, to continue growing and keeping your profit margins healthy, is to constantly come up with new ideas." The Merits of Inflation By: Dr. Sam Vaknin
Considering that the Committee included an ex-Governor of the Bank and the Permanent Secretary to the Treasury it could hardly have been expected to use much plainer language concerning the failure of our rulers to get money out of us in the right way for the war and the vigour with which they made use of the demoralising weapon of inflation.
Then came the careful transfer of the liquid hydrogen. One at a time the cast iron eases were carried from the building, hoisted aboard the car and lashed in place. Before supper Ned had time to go to the depot and send a telegram to Major Honeywell, who was yet in Chicago. It read: "Ready for inflation. All O. K. Sail at 2 P. M. to-morrow, August 11."
The judge observed that he was much relieved to hear it, for he had gone so deeply into the Sanitary Commission and other projects for promoting the war, and had made so many expensive journeys to Washington in furtherance of such projects, that he did not see how he could get through the year if the inflation continued.
These examples will show how difficult it is to go beyond the reach of sense experience. Even those philosophers who have tried to construct theories without the safe foundation of facts have labored for naught. The more our thought is checked and guided by nature's realities the less danger of inflation with pretended knowledge.
This budget is a clear message that, with the help of you and the American people, I am determined, as President, to bring inflation under control. The 1980 budget provides enough spending restraint to begin unwinding inflation, but enough support for our country to keep American workers productive and to encourage the investments that provide new jobs.
Disunity at home bickerings, self-seeking partisanship, stoppages of work, inflation, business as usual, politics as usual, luxury as usual these are the influences which can undermine the morale of the brave men ready to die at the front for us here. Those who are doing most of the complaining are not deliberately striving to sabotage the national war effort.
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