Today And Tomorrow By WALTER LIPPMANN argument about prices. !» tne been cooked up to cele •iiicb has b oJ. the legislative tl,erH 'he opening of the &JL campaign, both Mr. irssidentl , -y,., xaf took the rjisan a _:nt for granted. They <”,5 . !>»“, «* ssti»e? chicf jnterwt will be *»' and wno caused them. ij3Prl ''n aid of course luce It, TrUfthc'n on Mr. Taft and ) b'aa* ,vould like to blame them !\ir. Truman. ’ it would be interesting _ to * Lt they will be saying 0 . if the main point as the estye romes along is no longer l'ctl0nriL and the high cost o 1 if3Pr ut falling prices, unsold surpluses and unemployment. This is not an. idle question. For exter nally and internally there are powerful deflationary forces in op eration which are of great signifi cance to all who must look ahead and prepare for the future. * * * It is well known that Stalin, witness his interview with Mr! Stassen, is extraordinarily inter ested in the chances of an Amer ican deflationary slump. But there are others besides Stalin. Just re cently “The Economist” of L o n don, which is very close indeed to the mainsprings or British gov ernmental and private finance was discussing the problem which Mr Acheson broached in his Mis sissippi speech and Mr. Marshall With that goodnews , Mother-don'tdeky ‘But bake a cake This very day/ at Harvard—the problem of the balance of payment, and the im pending shortage of dollars as the American credit is exhausted. “The balancing of the British accounts, it said, “will some day be powerfully assisted by a turn in the world conjuncture. It has become a truism to say that the whole world is now a seller’s mar ket; but it is perhaps not fully realize how much this affects the British economy. There is every reason to expect before long a fall in the world prices of primary products—especially 0f foodstuffs', but also of many raw materials— that will be second in sharpness only to those of 1921 and 1931. Not only will Britain gain in relative prices but there will also be a great gain in the availability of supplies. This will not make low costs and high quality of British export goods, or aggressive sales manship in disposing of them, any less neceary. But it will bring the solution of the problem of the balance of payments well within the range of possibility.’’ * * * In saying that “there is every reason to expect before long a fall in the world prices of primary products,’’ “The Economist’’ does not say that it expects this fall of prices next year. In fact it implies that the big readjustment may not come for two or three years' The British crisis, it says, “will be sur mounted before the 1950s are far advanced.’’ Nevertheless by next year, at the present rate of expenditure, the exhaustion of Britain’s capa city to pay in dollars will be near A FINE INVESTMENT DESERVES PROTECTION | \t)UR Lincoln is an investment in motoring pleasure. It is our respon sibility to protect that investment for you. Let us maintain your Lincoln’s beauty and luxury' and performance . . . with true Lincoln care. Our mechanics know your Lincoln well. They use only genuine Lincoln replacement parts. Protect your motoring pleasure by seeing us regularly for Lincoln Serv ice .. . courteous, efficient, prompt. OCEAN MOTOR SALES, INC. David S. Harriss, General Manager 114 N. Second St. Phone 2-0569 A rinsr service for a finer car at hand. The same will be ture of almost all our customers. For the outer world as a whole is now incurring a deficit of one billion dollars a month. It is covering that deficit with loans, credits, and gifts from this country and it is using up its remaining gold and dollar balances at the rate of near ly five billions a year. Quite clear ly, this cannot go on much beyond next year unless we supply new funds to keep it going. If we do not, our exports will be cut at least in half. This will be a powerful deflationary event. It would cer tainly cause not only untold misery in Europe but would go a long way toward causing that fall in the world prices of primary products which “The Economist” is predicting. There are also powerful defla tionary forces in operation here at home which, despite offsetting forces such as the expansion of real estate mortgages and person al loans and consumer credit, are likely in the end to prevail. Much of the discussion of the Federal budget obscures the magitude of the deflationary impact of the gov ernment because for technical ac counting reasons the budget figures of expenditures, receipts, and surplus do not tell the signi ficant story. As the monthly letter of the Na tional City Bank of New York says: “The government’s net drain on spending power” — its deflationary influence on the na tional economy—“has been a good deal heavier than is indicated by the amount of the budget surplus. This comes about, first, because cash income is regularly much greater than ‘net receipts’ under the budget, and, secondly, because actual cash outgo is frequently less than total budget ex penditures.” Thus in the first four months of this year (1947) the gov ernment cash income exceeded its cash outgo by 4.4 billions, which is at the rate of 13 billions a year. WONDERLANDS j SUMMER VACATION \ SKYCRUISE Enioy a 16-day escorted vacation amidst the great est sights in America! Thrill ' to exciting, unforgettable vacationlands . . . every night in a hotel, every flight in daylight. Make your reservations now! $698. Tel. 5693 207 N. 2nd St. * DAILY CROSSWORD BqF^TmeTMp"|a.|g1eM L_ A a n c Tie |n|tmj|e|t S T E R|n|eMS|cIr|e| jo ' - t-o Yesterday’s Answer 89. Compass point 41. Cebine monkey 42. Thrice (mus.) 44. Moisture ACROSS 1. Out of 5. Fragrant wood (E.Ind.) 10. Mineral deposits 12. Grove of small trees 13. Deputy 14. Loop of running knot 16. Man’s nickname 16. Solemn wonder 18. Music note 19. Herb yield ing oil ina.) 21. Spirit lamp 23. A son of Adam 24. Localities 25. Board of Ordnance (abbr.) 27. Not fed 29. Half an em 30. Affected manners 32. Birds, as a class 34. Merriment 35. Most infrequent 38. Samarium 2* Chiffon make* dishes shineancSglassware glisten! Dishes, glasses come clean fast in Chiffon’s instant suds. They shine with lots less polishing-so nat urally you’re out of the kitchen much quicker. \ — 3* Chiffon is mild as a lotion on your hands! Even with dishes to wash three times a day-Chiffon keeps your hands soft and lovely. Chiffon is mild because it's all pure soap! No purer soap was ever made. the Navy when it was first ac quired by that branch of the serv ice in November 1941. He remain ed in charge of Fort Caswell un til June, 1943 and was then trans ferred to the Pacific. Dr. Brown attained the rank of Commander while at the base with Mr. Has kell and before being assigned to field service with the active forces in the Pacific. 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