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This newspaper page contains 5 articles. Subscribers can read the full text of each article.
Newspaper
Eagle Lake Headlight
Location
Eagle Lake, Texas, United States of America
Date
Nov 19, 1932
Page
5
Fragmented text describes payments via the South Texas Chamber of Commerce for relief to those without work. Mentions a county near Columbus and unclear quotes about a baby bed, a nose, and adults warning to watch someone. The passage is garbled and lacks coherent events or names.
A fragmentary account mentions a ship sinking and lifeboat rescues. A debtor ominously surfaces in a lifeboat with the line about owed money. The text recalls Cain asking if he is his brother's keeper, answered affirmatively by the Lord.
The creditor class shapes policy and debt becomes property. debtors fall or rise with creditors. After World War I, prices, wages, and debts adjusted to a new high-cost economy. A Brussels 1919 meeting sought postwar readjustment, with money units returning toward prewar levels, warned by economist Gustav Cassel.
The speaker argues that deflation by cutting credit and raising rates would bankrupt nations and individuals. He cites Cassel’s warnings, recalls Brussels’ plan, and condemns postwar campaigns to lower prices. Amortization and restoring consumer purchasing power are urged to save debtors and revive business.
Gibbons Poteet argues in Public Service Magazine that yearly trade values must triple from current levels to avert ruin. He echoes Franklin on mutual responsibility, urging both debtors and creditors to act, calling it the sole hope for all parties involved.
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