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Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
Mar 23, 1951
Page
16
Henry Hazlitt argues inflation stems from government credit policies, not industry or labor. He cites Treasury bond purchases by the Fed under Truman, comparing postwar Liberty bonds to modern issues and warning that bond pegging cheapens the dollar by raising consumer prices.
The Paureau 2 Labor Statistics report compares U S workers food purchasing power with other nations. It finds Australia requires less work time than the United States to buy the same amount of food, and in the stark example an American hour buys seven times more food than a Russian hour. It notes from 1937-28 to spring 1950 prices and wages rose, boosting purchasing power by about 17 percent. It credits productive farms and factories, plus mass distribution, for the high American standard of living and warns against blaming retailers for price rises.
A critique argues the U.S. government should not fund steam electric stations in Oregon and Washington to support new aluminum plants. It claims federal subsidies undermine private utilities, tax burdens grow, and independence is eroded by central control and socialistic policy in the Northwest.
A New York Stock Exchange official testifies before the House Ways and Means Committee on proposed changes to the capital gains tax. While raising the rate and extending holding periods may boost revenue, history shows longer holds reduce revenue and slow investment, risking economic stagnation. The speaker urges balancing revenue with preserved economic initiative.
The piece argues the Korean conflict has become a war of attrition not territorial gain. It cites General Ridgway’s policy to kill more Chinese soldiers with fewer own casualties, notes America’s heavy losses but improving equipment, and highlights China’s mounting casualties while supply lines to Korean forces remain strained. It also mentions a potential Chinese withdrawal if Russian aid remains limited, signaling a broader defeat for world communism.
Service Shorts McChord Air Force Base Washington announces that Pfc. Vickery, son of Mr. and Mrs. Roland Vickery of Denton, has reported for duty as a mechanic at McChord Air Force Base. Col. T. Adam Bennett, Base Commander, confirms his assignment. Vickery is a graduate of Carolling High School, Denton, and worked in farming before entering the United States Air Force.
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