Mises Daily
Author:
Garet Garrett
Online Publish Date:
[This essay, which exposes the big-government policies of the Hoover administration, was first published in the Saturday Evening Post , June 25, 1932.] In the minutes of the Chicago City Council, May 12th last, is the perfect example of how commonly we regard public credit. From bad taxation, reckless borrowing and reckless spending, the city of