January 9, 1950

Even those responsible for the devaluation of some 30 currencies since September admit that the results have been disappointing.

January 1, 1951

The proclamation of a “national emergency,” followed by the immediate imposition of price control, was a double misfortune and a double diversion. It diverted public attention away from our military defeat in Korea, and even from our foreign policy in general, to internal controls. And it diverted public attention away from the sole cause of inflation—the government’s own money and credit policies—to a false and irrelevant remedy built on a false diagnosis.

January 7, 1952

How much taxation can our economy stand? This question will become more insistent than ever when Mr. Truman presents his new budget.

One of the latest efforts to answer it appears in a pamphlet published by the United States Chamber of Commerce under the title: “How Much Can Our Economy Stand?” The pamphlet calls attention to some startling facts.

January 5, 1953

I put the question in this extreme form because so many people put it that way after the election of General Eisenhower and a Republican Congress. That is because they were conditioned by twenty years of New Deal propaganda to assume that “Republicans-in-power” and “depression” were synonyms, or that the second followed automatically from the first.

January 4, 1954