The star-progress. (Opelousas, La.) 1917-1921, 1921-03-16

more and more money is needed. as
medium Of exchange. TO take off and
handle and distribute the increased
production of those things which res
pond to the primary needs of human
life. We witness the astounding sit
uatiOn Of a stricken country. a suffer
ing people, in a time when its pro-
duction is greatest: while supposedly
great financiers solemnly tell us that
this is a period of readjustment, that
the world has been on a spree" dur,
ing and since the war, that money
is scarce" the money market tight"
because REIMBURSEMENT must take
place. and because we've been on a
spree" Yet. banking institutions.
the country over, declare greater div
idends then ever before in our his
tory. 1t is granted that there were
eXtrayagancies on the part of the peo-
pie in recent years, but governments
led the way: and we know that money
is not destroyed by being spent, and
that accordingly. it is not in reality
scarce" Why should the money
marked be ''tight?" Why should there
be such thing as money market"
if money were confined to its natural
and original use, a medium OF ex-
change and representative of value?
Money is scarce" we have a mon
ey market" and that market is tight"
because that situation permits the im-
position Of higher rates Of interest.
It is also true, that, in recent years,
there has been, sometime under the
guise of progress and sometime, I'M
der the spur OF necessity, veritable
carnival of interest bearing bond is
sues by this. that and the other gov
ernmental agencies; out who have
been and continue to be its chief bene-
ficiaries. if not the money changer"
whom Christ in his day scourged from
the Temples. Hence, for some great
Chief, among these. to announce Pc
Rod of readjustment, and recovery
from a world spree" is little short
of an insult to ordinary intelligence,
and certainly not any contribution to-
wards the solution of the problems
that confront civilization.
The Literary Digest for October
10Th. 1920, under the title: "Europe's
debt and our duty" furnishes a table
of the indebtedness Of ten civilized
nations including the most prominent
participants in the recent war, which
aggregates the sum of two hundred
and twenty-one billions two hundred
and eighty three millions, eight hun
dred and eighty two thousand dollars,
This means, in view OF an average
rate Of 5 per cent on this debt, that
the people of these ten nations must
pay. to the comparatively few who
; own these government obligations, an
nually, the sum of S11,064. 194. 100. 1t
means also. that if they pay this sum
annually for twenty years, they will
still owe, $221, 2S3. $4,000. Moreover,
, these figures comprehend only the na-
tioual debt of these ten civilized coun-
tries. II we add to this, the interest
| bearing debts of all the governmental
subdivisions, such as states. depart
ments, counties, parishes. cities.
towns, villages, school districts, drain
age districts, road districts, in all the
. countries the total staggers the i'm
aginationr-approximately three thous.
! and billions of dollars. And this means
that the people OF these ten civilized
nations, must pay. TO Il comparatively
few. an annual tax, by way of interest
, if figured at per cent, of one hun
dred anG fifty billions Of dollars. We
know, that as you read this, now,
this very moment, child is being
! born OF civilized parents. many chill
dren. thousands Of them ;.re coming
into this world. Thsy are supposed
! to be born free, and Of fTee parents
1 but as they draw their first breath
/ By reason Of the system. which per