Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1895-08-16
4! n I, y J \ s 81 4 4 IN, ms.

i D u, Y s. 81 ms.
MA! FRED PERRY POWERS FlNAf.
An TEc Hist n
.Ihs alsria M Grsenbs cltisins Fiat None!
ma Frss silysrism DisPsIlsd Fes
Plain Questions Plainly Answered- Toos
~ mo Thong tfuI. Il s;$
The Socratio method 81 exposing hum
bugs and shalns ii especially adapted Il
dispel the malaria of greenba ckism
Hat moneyism and free silyerisln con.
tinually arising from the swainps of ig.
5S norance and disshonesty That Mr.. Fred
Perry Powers has made good use Of this
N method will b clear to all who read
" the following questi ions and answers
concerning z Fiat Money and Legal Ten
sS der taken from his 1. AZ Financial Cate
U chisn, y published by the Sound Cur
(. rency Committee Of 80 William street,
New York city. 6 ~
Are paper represents tives OF nerchan-
n disc just as good for monetary use as
merchandise Itself? ss5
They are better, because lighter and
o more convenient, il every person is sure
& that the promise on them will be kept
II; in full and at all times. II: d
Besides merchandise and promises to
pay merchandise is there any other kind
Of money 53.5
Yes, (. fiat" money, which is q piece Of
. paper or other thing Of insignificant val
ne OH which is stamped q statement that
it il SO much money.
Where does it get its name? &
From the fact that fiat means let
there be, and is the expression attrib-,
uted to the Creator when he made the
universe ont OF nothing. 3
Can any human being Or government
create anything? N d
1t cannot. 81
Why lis not fla" money successful?
Because, as President Lincoln said,
you can fool some people all the time
and all the people some Of the time,
but you can't fool all the people all the
time. 81
Bnt why shouldn't it succeed?
Because men will not give their labor
or goods for nothing.
Couldn't people be brought to use
/. fat money? a.3
it, and experience proves that they
won't Besides, if you were asked to fix
/. your wages or prices in ''rallods' how
many would you charge? .s=z
I don t know how much a "rallod' is. !
Well you know as much about the
value Of 'rallod as you would about
the value of a dollar if it were not
specific quantity Of something.
Can congress determine how many
yards Of cloth or bushels Of grain an
ounce Of gold or Of silver shall equal
in value? IA ssaS55 5
1t cannot. K ~
What is to prevent the constitution?
Not. the constitution Of the United
States, but the constitution Of man.
Congress can no more regulate the rela-
\ tive ifltensities Of human desire than it
can regulate the length Of day Of night.
II congress can make 25. s grains Of
gold a dollar, can it not make piece Of
paper Z inches by q dollar?
Yes, bnt that kind Of dollar would
not buy anything \.
Cannot congress pass legal tender
3 act u: E n 5S.#
Oh, yes, if man in the past has loan
ed 81, 900 congress can say that the debt
or is discharged when he offers 1000
worthless 'fatn dollars
Isn't that making fiat" dollars just
as good as any other kind Of dollars?
tits so far as giving the debtor the 4
$1,000 that he ought to pay his creditor,
but it does not help. a man to buy food
and clothes, because the merchant will
raise his prices for awhile and finally
refuse to sell at all a.
What would the merchant do then? &
Keep his goods till he found custom
ers who would barter their merchandise
for his. a. 5.:5
Are not legal tender acts passed for
the benefit Of the common people?
Not much. They are passed by the
men who issue bad money to try to force
it into circulation Good money will 60
Of itself. R NJ Il. II III x5.s a
Give an illustration.
When the Russian government was
using marten skins, which had q value
as money in it's eastern dominions, it got
short OF funds, as governments are apt
TO-, and it cut of the scalps Of the mar
tens and compelled the people whom it,
owed for labor or material to take q
scalp for a whole skin. III u.
By whom have cheap moneys always
been introduced? Js5
By smart fnanciers and impe cunious
kings.
What is the earliest example?
It was one Of the crimes Of Dionysius,