The daily Alaskan., 1921-12-29
Ford Has Flat Money
 Scheme
How He Would Make Everybody Happy simply By Dcha>iu@
 Our Currency

lIr. Henry Ford. in an interview a, Muscle Shoals. assumes leader 1 ship of a new movement to destroy
 the gold standard and put u.o com
 try on a paper morcy basis. says q" ! National Republican,
 l His initial scheme is very simple 1 He wants the government ro spend l S4o.Ooo.ooo Dbo says S4ooooo0u
 but the government experts say ],
 will be nearer $a0.oo0.ooo' ,o com
 plarc the Wilson Dam a' Nusch ! Shoals build smother now dam 'aem and turn tUe whole yhiue over e. ! him. He finds tha. tne government l is reluctant to spend the money I'm rest in his own words.
 ''Now l sce way by which ou government can ge, this arom wor. ] accomplished without mNue u,a ol Co tae mo"uy sellers. ''-U.r =oN prnment needs Sf0.uuUuuD. ,.ul IS 1 .oo0.o twrnty-dolIar huIs L.. the govorumon, issue those bills and then pay every expense connected with che completion of the dam. ] Asked what would he behind this paper issue. Mr. Ford said
 simply this, the good ra.r. and | credit of the American pnon..
 Nr. Ford's 2.o00,0oo neaE-dol- 1 lar bills would be paper Har honey. nothing more. nothing less. They would not dtUcr in any anpr..tab.c degree from the na, money schemes of the worlds history Most 1r the arguments Mir Fcvd used 'u sup. port his plan can be found tu ,.o uJ- terances of John Law. whose paper money schemes we've cNplora. two centuries ago to hiring peace and prosperity 10 the world. They brought only dfsas.or. His scheme particularly resembles the basis of the classic assiguats og the French Revolution. He asserts chat his twcuty-doIIar bills would have be- hind them tre security of the aayur- al resources of the Tennessee river, just as the early issues of asst .gUats were osteusibly based upon the real | estate resources of the French Rev | oIutionary government. His twenty dollar bills would not he as good as ] the paper money of Great Britain by which "uu trade, au industry were smiten as with palsy" or the paper issues of Italy, which drove not only gold. but silver and even copper out of the country. They would take their place with the continental cur rency of our own early history tho they at least presented us with a famous phrase:
 Not worth a continental
 Unless all economic history is a lie such an issue of tweuU-dolIar bills
 for Muscle Shoals HouId he the be- shining of new craze which until ! checked. would bring new disasters
 upon us. higher prices. wild spccu- Iauou. pauics and their like to take l the place of those from which we are
 just now recovering.
 These considerations, however, l Mr. Ford has already brushed aside. l He does not care for the teachings
 of history. In his opinion history
 is bunk"
 He cares nothing for the Gresham law-that bad money will drive out
 good money. Doubtless he thinks
 that is also bunk"
 There are some interesting current
 parallels well known; for instance
 the present purchasing power of the i German mark. the Austrian kroniu
 and the Polish mark. These coun,
 tries are issuing the equivalent oi l Mir Ford's twenty-GoIIar bills. But
 the prosperity and happiness MT ] Ford offers are not realized there as
 yet.
 Many indications recently have
 pointed to the probability of a move