• .
Battalion
EDITORIALS
p»c«a
TUESDAY, JULY », 1*47
Another Inflation Pressure?...
Terminal leave bonds, which may be
cashed any time after August 1, will five
the United States' poet-war economy an un-
teftirablo shot in the arm. It it is expected
that within three montha over $2 billion will
be released already inflated consumer’s mar-
kets.
The immediate effect of the anticipated
rush by veterans to purchase much-needed
consumer’s goods must be considered from,
three standpoints: that of the government,
which will actually redeem the bonds; from
the standpoint of the taxpayers of the na
tion (many of whom will be recipients of the
terminal leave money); and, perhaps the
most important of the three, the effect on
present prices.
j In order for the Treasury to pay for the
expected $2 billion demand, money must he
obtained from cash on hand as well as from
outside borrowing. Since terminal leave
bonds are already included in both the na
tional debt and budget totals, the demand
for immediate payment will have little ef
fect on future Treasury planning In at
least one sense, the long-run effect of cash
ing bonds now will save the Treasury (and
consequently the people of this country) sev
eral millions of dollars. The 2.5% interest
which terminal leave bonds bear is much
higher than that offered by the Treasury on
other tyi>es of bonds. Thus in borrowing
fn.m commercial houses, the difference be
tween the two rates will effect a substantial
. nvtef.
. Sirs will be little effect on the taxpsy-
ers of the country . . . that is, little direct
Fallacy of States Right...
or immediate effect
whether or not that
by the redemption
Of course, the most ini
lion concerns the consequence
It remains to be sc
rroup will profit or loee
the oonds.
specula
the sud-
Tto Y«or» Aftw aad Still o
den flood of cash on the consumer market
Even proponents of the measure to cash the
bonds recognize the possible inflationary
pressures which will accompany the release
of $2 billion on the market More money
will be placed on a market which has been
overburdened as a result of post-war buying.
Any sudden spurt of buying might conceiv
ably cause an increase of prices in certain
fields.
When World War I veterans cashed their
bonus bonds in 1936, over $800 million worth
was redeemed during the first month. Cloth
ing sales, general-merchandise sales, eating
and drinking sales, end gasoline sales aU
rone an average of 4% in that year. The
present exodus of cash will probably affect
those same markets this fab, particularly the
first two noted. Thus any temporary in
crease in prices should come as no surprise.
Therefore, veterans may well heed Pres
ident Truman's warning to holders of ter
minal leave bonds:
urwmtn
BOOKvms
‘Always Young and Fr“’
Tells of Small Town L e
Sine* th« Wfinning of the far
muster of very worthwhile nov-
teon pubin-hrl ei»SM ky
of long r>• t»Wifthed repe-
... end other* by new or little
known writer*. There or* tomr
for light end *om* for heavy read
ing, bet moot of then will add a
ET
deal to your
reed
V
21 Years Have Passed...
ae esthor oi I ae
K,eidrf\ and ‘Tin
ha* written another
[>Pl»eHling »tory. Thh
Conrad Richter, whom you re-
memter as the author of
Treeo", “The
Bee of Graea**
nostalgic and appealing story,
story ia of a girl and two men
(one living and one dead), a story War. ^
of loyalty in ronflet with We. Mr. HANDS OF THE
Richter has entitled his book, AL
WAYS YOUNG AND F.
while the book may be
has a certain force
the warm and delicate
“The Sea of Greek", Mr
telb a beautiful Isle of love and
renunciation. The aurprising and
wfO linger
dramatic
sx'attPlil
Tin» his uausual power* of Mutt-
aetorisado*. the author throe
to the figures of toey Ma
WiU Grail, and ToiS Gmil.
with a genius for
creaSes fully their _
vama home town fci the early
HHMVs.
★
I Walter D. Edmunds, author of
that favorite "Dnuut A leaf the
Mohawk*’, hat gives us another
gripping story of Indians and pio-
durjng the kovolutiooanr
biff new hook. IN THE
SHNFCAi. Mr.
Edmunds traces tho/experiencee
of a group of white Ueopfe* mostly
women and children, ^ ho were cap
tured by aa Indian War Party.
Dygartsbush, Mew York, tat the
year 177H -moke rising from lone
ly cabins, bat not the fragrant
(See BOOKS on Page 4)
Lincoln Papers Add Color,
But Nothing Sensational
GU10N HALL THEATER
it -
InconnUtnncy rule* the politlchl mind* of
moat avowed "grumbler*" of •Ute*' rights.
While backing up to the Federal Government
with outatretched hand*, they are nt the
*amt time complaining about their toe* being
•topped on by nome legislation of the nation
al government Uaualty their 40-called Injur
ies are in the form of a bill which would
enforc e portion* of the Constitution about
which a few *Uten have conveniently for
gotten.
For example, recent attempts to outlaw
the poll tax aa a mjuirement for voting were
met with the cry from some of the states
that their constitutional rights were being
interfered with. What about the rights of
the many citizens of these states which are
limited by the tax?
Objections to many other measures of
social significance, such as the Fair Employ-
Almost $2 billion of bonds are outatand- "I. Robert Todd Lincoln, of Washington, in the District
tng If g sizable proportion of these bonds ! of Columbia, sole surviving child of Abraham Lincoln and
should be redeemed Inthe near future, genet- the abaolute owner of all of the letters, manuacripta, docu-
al Inflation preesurea, which we havebeen! naenta and other original private papers left by my father
endeavoring to control, would receive a eub- hod heretofore temporarily placed by me for aafe-keeping in
■♦.»%M t i boost Several hundred ™nn/wi dot I the custody of the librarian of Congress, do hereby give the
lare poured into a trending stream would ex-1 mud# in perpetuity to the United States of America ... for
eri a strong pressure on prices. 1 ' _
sraww—e on,. 80began Luther H. Evans, librarian of Ooograes,
minute after midnight, July N, <
whan Mp stagnation saf* lacks
fall away and the doors swing
r n In tha library annsx. After
yean under leak and kgy. tha
^ l
w
Tuesday
/Wednesday
Thursday
Retert Lincoln wet planning tel
bum hla father's pa pars—and par-1
sanded not te da ae. But net known
political machine* resent nomeone
in on their gravy train f
Some of the 48 state* should realize that
it wouldn't be necessary for the Federal Gov-1
ermment to take an interest in the plight of
its citizens if the states would do it them-
naw areuli
In • boas under preparation by tha
director of the reference division of
tha library, David C. Mae rue.
Carl Sandburg, greet American!
poet and Lincoln-fan, waa among
tha 100-odd parsons present at the
opening of the documents.
World Peace Goes Begging...
Most advocates of World Peace are today
in the position of a group of tramps asking
for handouts. Many words were thrown a-
bout following the conclusion of World War
II, about this world of ours entering an era
of peace and prosperity. However, today
little is said of peace in our time Instead,
we see nations all around us still geared
for war.”
Renewal of hostilities in Indonesia, with
the Dutch still attempting to bnng about the
return of Imperialism to that area leaves lit
tle room for optimism. So little is known as
to what is actually hapt>enmg there that it
is difficult to determine the issue* It aeems
as though the Dutch are determined to retain
their hold on this small island which suffered
■o much at the hands of the Japanese. The
Indonesians seem to care as little for the
Dutch aa they did the Japanese.
The long, drawn out struggle in China
■eems to have little chance of ending any
time aoon. There issues are somrwhat cUmr-
•r. It is a fight for control of the Chinese
either
mint Practice Code and the Anti-Lynching
If*'*" eyemtev u«
<> v.d.n.1 OoY»nim*nt too much powor. mnu. ud ,1mm of m.mor.mt. ^....... lhM . 7 lh . U k.
CouM It bo that rnuny of tho city too utoto i.y m.« Unmln wm opm- , _“°*V’’P"?, 'Sj
"cuttlnf | to to tto p»Mk. PT- l 1>l :
Retert Unrein, in bla 4e*4 «f Wbel» BStsaeitki aM M beak
, gift, wrote tbat te wanted II year* » nd
You never hear any of the states turning w aWpa* after his death before w1 ' 1 ^ d#4H w,u *
away from huge appropriations made aa re- be made public
suit of some of the “pork-barrel” tactics u*«‘d
by many of our congressmen. No, aa long as f Pr ^cM of^Tlrtveu nlltirl ^
appropriations are involved, little is said of i the Immediate anceetore of persons
states' rights. | now liviag, which. In my lodg
ment. should not be made pul rtte."
I* Uneoln’s own handwriting. In 1
Vntems LM. Is the semmation of'
the end of one of the eraxteet up-
seU ever teen in hla cabinet. His
selves. After all, 160 years, is a long time to I Portland aLeoTfereser ™v-1
wait for a few states to snap out of their emor of Ohio had resigned in
lathMTgy. aboet the same hour aa his secre
tary of state, William H. Seward,
former governor of New York. To
each of these officials, Lincoln
wrote that te couldnt accept their
tinuous violence would lead one to believe I ™p r
th»t »D i» not well. The Britinh keep two ?££ wl,
divisions on constant alert, and from all re-1 s.„.rd.” Aad w.. Gov.™, s,.
ports they are kept rather busy running af- j ward’s letter, te had written: ‘T.
ter different members erf the resilience 3 - 34me •bove sent to Governor
movement |Chaae."
Ia the collection there ia only
one commaakation between Rob
ert Uncola and hie father. It is
a telegram dated April t. IMS at
Hancock Station, aad the ssea-
sage reads: T am awaiting you
at Haaeaek Station.** with the
signs tare "Robert T. Lincoln."
Though the fighting in French Indo
china has quieted down considerably, the
differences still exist between the two fac
tions, and some permanent settlement must I
be made. Here, aa in China, we have the
same unhealthy situation, of the Communist I
fighting to put themselves in power by!
throwing out the French. Little can be said I
for either aide.
After one takes a broad look at condi
tions in the world todav, he can't help being | the vol
world
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HENRY TRAVERS
Only once did the young Lincoln
permit hie father's collection te te
read. He let Nicolay and Hay use
for their two volumes
of "The Complete Works of Ab
raham Lincoln." published In 1M4.
Then Robert Lincoln let the papers
Nett
of a true democratic
aide has anything to offer
■aiternaliveH
lyj fight between the reactionary wing,
in way of
strictly a
under Chiang Kai-Chek, and the Commun-
taU, backed by Ruaaia. The only consola
tion -if there la such a thing during a war-
la that the opposing faction may io such a
good Job of killing one another, that a third
democratic party might rice from the aahes.
In Greece we have more of a stake In the
outcome of the conflict between the
mate monarchist and the r e b e 111 a
group* Under the Truman Doctrine
been committed to providing ski for the mon
archist It would be very unfortunate that
in our seal to support the present govern
ment that we might be suppressing at the
same a group more representative of the
Greek people.
The situation in the Holy land cannot be
called a war, but the fact that there is con-
l*e*aimistic about world peso* It
though the UJf.O. ia "bogging” down in its
attempt to settle differences between nations I ^
who were up until a abort time ago fighting
aa allies. It 1* unfortunate that the organ
isation must dissipate its strength settling
problems. That should have bean done fol
lowing the war. The solution ia more com
Thirty-odd ysars later • Repub
lican party leader, Albert J. B. \
eridfe, same te him for the use of
the collection. It Is known that
Robert Lincoln refused him. The
that Robert Lincoln
C/A
AIR CONDITIONED!
Opens 1:00 p.m. Ph. 4-1181
TUBS. A WED.
It ia plicated than the problems themselves. What m«k inquiry ** to the life
a beautiful challenge to anyone hoping forlancy oT Beveridge Wdate</Th*
Double Feature
tha hast!
Mayor Popn Out . . .
Always’wHling—Indeed, anxious — ton.
help the veterans. New York Mayor WII.|York
I ism O'Dwyer issued a statement July 18
is legiti- warnlnK that only two weeks remained in
g leftist which National Service Life Insurance pol-
we have icies may be reinstated without a physical
“ “ examination.
As of July 8 that was correct On July
9 the Veterans Administration extended the
deadline to next January 1.
Lippincott is currently advertising Betty
MacDonald’s best selling The Egg aad I as
a "Pullet Surprise Winner."
[•' ' -
The Battalion
m Battalion, affldal nswapapar at tha Agrtealtnal and Madwakml CoDaga at Turns and tha dtr at
'■*“ - rates rarniahad on ■■ ■“■ *
News contributions may te muds by telcphon
tioa Building. Classified ads way te placed by
Room I, Administration Building
^‘torial offica. Room I, Administra-
ikphone (4-M24) or at tha Stadant Activities Otflas,
release of hit fathar't papers ae-
smdtMty.
Perhaps tha most competent bio
graphy of Lincoln written whila
ha waa alive la tha on* by Henry
Raymond, editor ef tha NaW
Tftnaa—and there have new
made svailsMe tl Raymond
i te Lincoln. There are also
11 tettosa te Lincoln from the Ro
Iflbtholic Archbishop Jnhr
Hughes of New York and 11 oth
ers from Episcopalian Rinhop
Charles MeEhraine.
A eonflrmatten at tha eaor
taken by Preaident Lincoln and bis
S«*cretary at State Seward in n
strange tncidant ad 1M1 la <
tatned In the collection. Seward
d Lincoln a long momdi
on polky, in which he, 8a-
■ald It would te tetter for
are, and bla first move would JTu
op a war with Great Britain
thus bring the seceded states
back into tha onion.
reply waa a atari
^Umt'te*was
frith aa g satis
Seward stayed
WriaaS as ammO-ttam —aw el r—
Sfk o——?aTisw-hVuaa.
A *
MriSa
D W.
09
and
Rflaatr
Capras
OWI’MWUCIM MW’ how stwt
la 19^2 it
wa.« rumored
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