Abstract

Editorials

As the economic crisis in the United States continues, the inflationists in and out of Congress gain adherents steadily. It would be difficult to predict in any case precisely what the effect of currency inflation would be, and it would be particularly so until they knew just what kind of inflation was proposed. The more naive inflationists reason quite simply: Business is depressed, they say, because people are not buying. They are not buying because they haven't any money. Therefore what the country needs is more money. Therefore the government should print more money, and it is a matter of relative indifference whether it forces it into circulation in the form of bonuses to veterans, bonuses to farmers, or through the payment of any of its current bills.