Letter: The secret of defeating a recession
The secret of defeating a recession is, as everyone knows, spending money. If everyone gets scared and holds onto their money, everyone suffers. People should learn to be thrifty, and not overspend, but if they just hang onto their money it hurts everyone.
I saw a black-and-white movie that should be shown on every TV channel at the same time to educate people. The story is about a man who comes into a western town. He owes another man, a resident of that town, $100. The man he owes is out of town, so he gives the money to the hotel owner to put in his safe and give to the person when he returns.
The person to whom the money was to be given happened to owe the hotel owner $100, so he takes the money and pays someone he owes $100, and that person pays someone he owes $100 and the $100 pays off several people and ends up back in the hands of the person for whom it was left at the hotel.
Everyone paid bills and the money in circulation wound up in many pockets. But if it had remained in the safe, all these people would still owe money. Get the picture? The TV media can be a plus or a minus and too many times the do more harm than good.
J. Willingham,
Madera
