Reflation in America If the granting of vast loans to
private enterprise can foster employment, the United States Congress, which ended its session last Saturday, has done much to end the trade depression that has thrown America, and the world, out of gear. Undeterred by an enormous Budget deficit of at least 000,000,000, Congress authorized the Federal Government to lend £900,000,000 to the Reconstruction Finance Corporation and other bodies so as to expand both currency and credit. The intention is to restore confidence in trade and industry and thus provide work for the 10,000,000 persons who are unemployed and destitute. America is incomparably rich in natural resources and has an abundance of capable business men. With the lavish State aid now available, her traders, manufacturers and farmers should be able to shake off the doubts and fears that have troubled them for the last two or three years and inaugurate a new period of pro- sperity. If they fail the faith of the inflationists will be badly shaken.
* *
Previous page
