Out of Debt, Out of Danger

AT the end of the war the size of the national debt will force a re-examination of our national policy toward currency, hanking, investment of savings, and taxation. These will become political issues of the first magnitude. Congressman Voorhis, who used to make headlines as the lone dissenter on the Dies Committee, is here spokesman for a school of thought in the Jeffersonian tradition.

A New Dealer, as current labels go, Mr. Voorhis attacks the centralization of power and growth of bureaucracy inherent in our present Hamiltonian technique of deficit financing, pointing out that in financial matters technique, rather than good intentions, has always won the day. His own recommendations, which follow David Ricardo and other classical economists, and such moderns as Irving Fisher and Frederick Soddy, are simply and lucidly set forth.