The Marietta journal. (Marietta, Ga.) 1918-1944, 1921-06-30
WHERE ARE WE AT ?
Let S Find Ourselves

losses like sports. " Mr.. Schwab
says: Reduce freight rates on
steel" Mr. Aterbury says, don t
reduce freight rates" Mr.. Kruch-
NETT says reduce wages. Mr.. Com
pers says don't reduce wages. Mr.
W. G. P, Harding says our finances
are sound. Mr.. Eugene Meyer says
sell a million bales of cotton to
Europe on credit and aid the farm
er. Mr.. Alexander says: GO to
work the man that works won't
starve. = Mr.. Cotton Farmer says
eff ! had only MIXED my cows
and gone fishing the balance of
the year, / would have been out
of debt last Christmas.
All admit disorder exists in our
economic life.
Mr., w. G. P. Harding wrote
"The living of all begins with the
farmer, and anything that affects
his buying power is soon reflected
in the business of the merchant
and manufacturer. Thd farmer
should be aided and stimulated to
the fullest measure Of his harvest. "
Never in the history Of the land
has any nation suffered business
depression following a season of
bountiful crops. There cannot be
an over-production of any com
l'modity essential for the living of
man, unless you measure it, by
money.
The need of a man is a living
food, clothing and shelter. These
three things, all and each being the
product of labor, comprises the
real wealth of a people.
In the organization Of society,
to labor, in the pursuit of living
there is but two systems, namely,
the system of agriculture and the
system of commerce. The first
being the actual producer, the sec
ond being the exchange barter or
distribution Of one man S product
with the other.
Following these primary and
natural lines, there is no reason
why the people of this country
should ever have business depres-
sion-unless we suffer famine of
our crops.
Hence, there is no fundamental
cause for the depression now
spreading over this country, threat
ening the living of all the people
in land Of plenty.
The statement that we must suf-
fer for bread because the people
of Europe have lost their buying
power is not sound or true. Geo.
Washington and our forefathers
proved this even while at war, and
during a period while they had
less real wealth than we have to-
day. Hence, as all we can get from
Europe is gold, nor is gold raiment
nor will gold keep the rain out of
our house, wherein can we be in
need of more gold from them?
Currency wasintr oduced into So
ciety as an instrument of COM
merce. Various articles were used
in the primitive exchange of prod
ucts, from cattle to salt, and metals
finally became the most popular
During the administration of
President Cleveland we adopted a
standard and fixed the unit dollar
at 25 $40 grains of gold this
being fixed by FIAT of congress.
At that period we were debtors to
foreign countries to the extent of
two and one-half billions in gold,
and while it was argued against
the adoption of the gold standard
that it would be a physical i'm
possibility for this country to ever
produce two and one-half billions
of gold. The favorable argument
was made that it could be paid off
with 100000 bales of cotton and
the sustaining argument was that
having monopoly of cotton, if the
if the government would take over
the cotton crop, handling it as a
merchant, charging reasonable
price to foreign countries, it could
be paid off with eighteen million
bales of cotton, and the South
could be pushed up to produce it
in one year.
We, thus, by legislation, added a.
third system of the science of po-
litical economy, and really limited
agriculture and commerce and all
their expansion and development
to the amount of available gold
and credit based on gold.
1t soon developed that with the
limited supply of gold this great
nation could not deyelon hu+ q