Be Not Blinded By Yesterday's Foolhardy Battles
By
Sherman N. Miller
"You can't buy anything with a penny!" responded a senior citizen when I asked if she picks up pennies during her walks. Although she admits she does pick up pennies, this lady asked, "What can you buy with a nickel or a quarter?"
This lady forced everyone on the park bench to grapple with her question. I could not think of a single thing one could buy with a penny or a nickel. And no one else in the park dared to challenge her statements.
I left the park recounting the many times I had found pennies along my neighborhood walking path. I often times would pick up these pennies, although on occasion I have allowed one to remain in the street two days before I retrieved it.
I asked another senior citizen if he found pennies. He said he found many pennies and he picked all of them up. This fellow claims he walks through the parking lot of his neighborhood shopping mall and finds 4 or 5 pennies without any effort.
This fellow also said he finds pennies on the floor of the local supermarket. He offered a couple of experiences that highlighted the insignificance of small change today.
He claimed
that a lady's pocketbook popped open in the parking lot of a supermarket
when he was driving up.
A
few coins rolled out onto the pavement.
She merely closed her pocketbook, got into her car, and drove
off.
This fellow also contended that he once took pennies to a supermarket to exchange them for cash. The supermarket refused to take his pennies. So now he will only take his pennies to the bank.
The above tales offer credence to Former President Ronald Reagan's television scene where he argued that the dollar was worth roughly forty cents. Reagan was highlighting the evils of inflation. Yet peoples' refusal to pick up pennies says that the psychological vestiges of inflation have not been destroyed.
I hope this currency devaluation does not lead to America creating huge denomination bills that are worthless, or perhaps the government fading various coins out of existence. I recall once signing a hotel bill in Bali, Indonesia for 300,000 rupiahs which was approximately 300 dollars American money.
Imagine the impact on the United States of America's retail industry if the penny should become extinct. The magical 9 on sales days will be relegated to American folklore. There will be no more $99.99 or $9.99 sales; instead, people shall be forced to accept that these amounts are really $100 and $10 respectively.
If you take away the nickel, dime, and quarter, then how will the U.S. Government be able to set the national minimum wage rate? Will the U.S. Government offer these workers $4.50/hour or $5.00 because the new coin increments will be 50 cents and 1 dollar?
As we celebrate Labor Day 1989, let us ask our national leadership to not be blinded by yesterday's foolhardy battles between labor and management. This national divisiveness has only led to millions of American workers falling victim to unemployment and underemployment and inflation eroding the value of our currency.
I ask President George Bush to use this Labor Day to show the world that he also wishes to be known as the President who fostered a spirit of cooperation between labor and management.