Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-09
FORD TALKS FINANCE
Muscle Shoals Can be Made to
;. Mako for Peace.
No use toyFave the People Pay Inter
est, .When Money Can be Provided
"a Just as Easily by Means Of Printing
. Presses

- Presses.
u, Florence, Ala, Dec. 5.--Henry Fort
today for, the first time gave the IN
side story of his epochal plan to take
over from the government the gigantic
nitrate plants at Muscle Shoals.
Mr.. Ford expects, through his oper-
alton Of the war plants, to point the
way to the rest OF the world for per-
manent peace. This is how he will DC
il, provided the government sells him
the properties.
oj Instead OF the government issuing
bonds for,the sS0,0Oo.O0o still needed to
complete the nitrate plants. Mr.. Ford
proposes that congress authorize an is
sue of 100000 $50 bills of new form
of currencS.A
New Form Of Currency.
This currency would not be based
on gold or silver or any recognized
monetary unit. 1t would be based on
a unit of energy which would be fig
ured out ard which would be equiva-
lent to 81. This energy money would
not bear interest. 1t would pass as
readily as bills backed by the gold re-
serve in the treasury. 1t would be
hacked by the imperishable and mex
i,austible energy of the Tennessee
river.
: Engineers say it will take sso,ooo,-
600 more to finish the job" Mr. Ford
said. 'But congress is economical and
doesn't want to tax the people for II.
The United States the greatest gov
ernmert in the world, is forced to go
out to borrow a pesky sS0,0oO.0OO at
the end of 80 years. The government
not only has to pay back the .sSO,oOO'-
600, bur it has to pay 120 per cent in
terest. Literally has to pay back $685.
600 Ooo>for the use Of sS0,o00,0o0 for 80
years, and all the time it is the gov
ernments own Nmoney-the money
sellers never created it; they got u
from the government originally. -
"The government first gave credit
and then must pay for the use of what
it gave. Think of 1t. Could anything
be more childish? Now, l see way
by which the United States can finish
this great work without handing "a
nickle to the money sellers. It's as
sound as granite nd so simple that
maybe come folks won't see 1t, - 5
Pay for. Dam Work. J
I'VE need $50, 100000. That is J.
100000 $40 bills. Let the government
issue those bills and with them pay
every expense connected with the fin-
ishing OF the dam ..., -.
;,s"Witha the dam completed, 1t can be
put to work earning money, and in, a
short time the $50, ,Ooo, goo retired out
of the ,earhings of the plant; AZ = = :, Z.
I'Irhere should be no trouble about
getting the, contractors to take this
energy ,iponey.' The good faith and
credit Of the American people would
be behind IT. ,rr- %.l.. -,
"Itj would not necessarily upset the
money system of the world. We need
not abolish anything. We need not
even abolish>the gold standard, Sim
ply forget there is any such thing as q
gold standard, and whenever the gov
ernment needs money for an, internal
Improvement, instead of thinking of
bonds with their heavy drag OF in
terest charges, think Of redecmable
non interest bearing currency. ...
Would Save on Project.
DO you realize that out of every
dollar raised by our government in
taxation SO, cents is spent In payment
of interestgof the national debt, and Is
nothing more or less than the nations
interest liability pile. Every; public
Improvement the nation makes means
an increase of this pile Now, here's
a way to get improvements without
Increasing the debt. The interest load
is breaking down our whole financial
system and we've got to stop
There weuld be the best security
in the world behind this Issue Of cur
rency. Here you have river capable
of yielding 100000 horsepower. 1t
has been here 10O,OOO,OOO years and
will be here as long as there is rain
and mountains 10 shed the rain into
the valleys.
This river produces energy which
isNwealth in a most productive. form,
This power site and this development
is more secure and imperishable than
the few barrels of gold recessary to
make the $4,000 900. These power
possibilities will be here long after the
treasury building has ,crunbled into
dust.
Banking Group. '-
1.-THE standard American: dollar is
about one twentieth of an ounce of
gold. Under my CURRENCY system the
standard would simply be n. certain
amount of energy exerted for one
hour, which would be equal to 81. We
would Just have to think and calcu-
late differently from the way we have
been doing. The terms we now think
in were laid down to zig by the inter-
national banking group to which we
are so accustomed that VIC now blind
ly grope in the dark after them.
THE only difference between the
currency system. ard the bond plan is