The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1911-07-06

the bullion owner to have it coined
into money if he don't want to. The
price of the bullion is just the same
whether coined or uncoined, viz:
$20.67 an ounce and Congress by
law CD makes the price.
The price and the intrinsic value
of an ounce of gold are two PROPOSE
tions. The price is arbitrarily fixed
by Congress. The value is what it
would sell for in the market if the
law was eliminated from it. The
law says the price of one ounce Of
gold shall be $20.67.
Take away that law and an ounce
of gold would not sell for over $40,
if it would even for that. Previous
to 1873, and from 1892 (81 years.
the law said the price for an ounce
Of silver shall be $1.29. Today the
price for an ounce of silver is about
SO cents and has been since the law
was eliminated in 1873. So it will
make no difference Of what material
money or currency is made, whether
gold, silver, or paper, so long as it
is privately owned before it goes
into circulation, into the channels of
trade. This special privilege Of pri-
yate ownership Of all the money
forces the people individually and
the government (the people collec-
tively) into debt, and thus compelled
to pay interest. This system means
a perpetual debt, and debt means
interest. The longer the system of
private ownership remains the lar
ger will be the debt. The larger the
debt, the more interest must be paid
The more interest there is paid the
higher the price Of products, conse-
quently the "higIler the cost of Iiy-
ing" | would like to see some one
try to refute this. This system has
been so long in operation that the
real estate mortgage debt covers
more than three-fourths of the en-
tire wealth, and government statis-
tics tell us that the debt is increas-
ing three times as fast as the wealth
and six times as fast as the popula-
ton. The money power is likened
unto a cUttlefsh. When the cuttle-
fish is pursued by it's enemies it
emits black liquid and blinds it's
pursuers. When the money power
is disturbed, it has legislation en-
acted to fool the people. There is
no doubt but what the Payne-Aldrich
tariff schedule were made high for
the purpose Of getting a good many
lighting over it, SO that the scheme
OF the our central bank of issue
could be enacted into law. Senator
Aldrich is chairman of the Senate
hnance committee, also chairman of
the monetary commission that is in
cubat1ng the central bank Of issue
plan. Sooner or later it will dawn
on the minds of the people that the
cause of the high cost of living is the
private ownership of all money and
currency before it goes into the
channels Of trade. The ownership
still remains after it goes into circu-
lation. The system of putting
money into circulation by loaning
has created the enormous debt now
in existence The price OF any COM
modify is dear at any price, if you
don't own any money to buy with.
Much is being said and written in
the agricultural papers about how
much the producer gets out of the
consumers dollar. The average is
about 35 cents that the producer gets
out of the dollar the consumer pays
tor the product. What appears to
bother those editors is, who gets the
65 cents. 1t is an easy matter to
understand when they understand
the power that goes with the private
ownership of all the money. The
present system is to loan money into
circulation. To loan means debt.
Debt means interest. Interest is
only another word for debt. The
more debt, the more interest, and
interest on loans is never paid with
hut with 10 hnp oto ho