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THE BATTLL IMUIlQtt Inflation occurs when purchasing power outruns supply of uv&llable ¿oocs by a considerable margin* The battle gainst inflation is the attempt to achieve balance between financial and physieal aspects of the economy. I* The main sector of the fronts especially in war, the physical requirements hare priority* 1« Requirements determined by general staff. In physical tens - remainder of physioal output - and MO MORE for civilians* 1* Ihy do armed forees need so much? "The swifter our armies i'or^e ahead, the greater their demands for supplies." - Donald Kelson Hard fighting uses up material at a greater rate. In training shoes last from 3 to 4 months* In Sicily troops wore out shoes in 3 days* To replaoe 6o boaters lost in one day in the raid on Sehweinfurt, requires 1,000 airplane workers busy 40 hours a week for one year. ■•••If tua Afi«rio*n pooplo «ili con centrato m r y avallati« ounoo of onorgy on tbo production job, tbi« mir can bo «hortonod ty «ix kontha*• Donald Mrnk&m Buadrod« of tbouoanda of our boys w ill bo MTOd* B. Induatrlal production for «or for olimi«»« 2tt£ 1932 1935-1939 July 1939 July 19Ì0 July 1943 Total fiiwtltui m 56 100 106 133 509 100 M 0 0 — — — 72 1Ä7 Da«pito $•»10 aillloa in tli« m o d i foro««* trm in «11-out ww p r o *» tion Is If por o«at higher than in 1932j and got only 30 por ««at of « o m ou&ptis D«oamo i m o xoro«« nood 70 por o«nt. m m fhi« 1« iacredlblo mooocpllibaant* Brid«noo of «imi « fro« pooplo ca» do I* Tho financial «id« à* ^iii'ff« tbo BTBOd foro«« hlTt detOTBlDOd tb o lr phyaic * l nood«, Goagr««« it«« (tho iaomt dopaMl« i^poa yjytltftl pri««i^ «ad ünltad SUt«« Appropriated. . $300 bil* Spant (through Nor« 1943)•••• 146 * Curraot Monthly expenditures* 7f * .................. 290 ail« hourly...*..••.•*..*• 10 * I» the funds Since we are paid for producing both war «od civilian goods, our total national inooee is adequato to buy our entire output* Balases is aaintalnsd if vs transfer to ths Gorerment the aaount that *s get collectively for producing war goods* Oovernae&t sill than haw* funds to pay for what it nssds and we will still have left enough to buy at eurrsnt prises our total olvillan output* And ws san*t got «ors aolleotlvely no aattar how wweto, ss spend« (1) Taxas and borrowing (a) Propsr tax systsa - eoonoolo ▼»raus politisai Is «Hamlets, not to stifla inosntlTs (b) U d o oeoership of securities Buying powar for tha futura Participation in public affaira fsnss of joint raspami biliV through thrift - 4 (o) redend budget Fisoal /e a rs tepsod. è «hagify in b al. laxes SâàÂâJÙ tittLH Jä£Q39ElA& 1939 9*0 5.7 3.3 1940 2*5 5.9 6*4 6*0 1941 a.3 14.3 1942 37.2 13.7 23.5 22,1 4L! &B¿ 28.1 17.6 July-8ept.l943 10,5 (d) Borrowing froa e u m o t lnooae versus borrowing froa banfcs fihaarti ta ftawahlg Qgromnat %ggrtlt»i red. Bes. Other Fisoal yrs. à Finance Cos. ending OoM^l Insurance à -jIs BÉ-JSLm » «JtotíUL> Qthere Tbtal «tauge in Debt 1940 19a 1942 1943 .8 3.3 6#8 30.6 •8 •8 2*4 5.3 1*0 2*8 12.6 27.0 2*6 6.9 21.8 <62*9 fe J\ine 30 1943 59.7 18.1 61*7 139.5 XX« Oilier sectors of the battle against inflation l. T ^ ^eftieed 1a output (about exhausted) 3* leevring equitable distribution of •callable civilian suppliai. 2* ULeiting dssuuid A* ig e and prioe pollings B. Begulation t Bsttnnliig -5in. The outcome of the battle 1« In d— ocraoy depend« on th« people Sot their words but their action« It o«p«nda upon ub , you and ne. 2* Sane evidences we ar% not losing ground It appear# now that trith hard work the Treasury vill have to borrow only i a 1 1 eaoisits if any aore frosi bank«*
@FedFRASER