The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1921-02-04
uNsouND MONEY IDEAS STILL
PREVAIL AT ocALA


The Ocala Banner. a Florida news
paper, prints the following bit Of II
nancial enlightenment:
Tom Watson of Georgia, wants
liberty bonds to become currency the
same as money. That is part OF our
thunder but we are perfectly willing
for the Georgia Senator to appropri
ate it if he will make good use of II
This paper never saw any use of is
suing interest bearing bonds as long
as the government had the power to
issue money and the taxing power
to redeem every dollar so issued
Ocala is still known by the name
Of platform adopted in that city
once upon a time by the now de-
fu1ct populists. The Ocala platform
was long phrase among those Wf.s
haDltuaily held unsOund financial
views. The idea suggested by the
paragraphs IN the Banner and the
TACT the Georgia senator espoused it
does not improve it's one Of the
unsoundest ever promulgated It be-
longs to the back ages OF finance. The
ola green back party following the
Civil war was founded in that del,,-
SioH OF cheap money
it needs to be borne ii, mind thar
prosperity is not mere matter of
circulating paper notes. but thai {
IS al industrial condition. An ind,,s
lflai situation confronts this no,1n.
try, not a mere financial one n II
dustry can be resumed on i .,orr,,,
OASIS the money of the countru will
y ample and it will circulate Fact
enough. Men want work and farm.
ers want markets, for their nroducts
anu tnat at fair prices, but the craa.
tiol or vast volumes of naner n,o,,a,,
VIII not give either work or n,arlyat.
put on the contrary they miobt 80
Times. pius tloWa)
our esteemed contemporary IS alto.
getner mistaken. Paper money doos
nor belong to the back ages" Il i
truly and beyond all question the
money of civilization.
no modern business of any sort can
pc conducted on metallic money as was
don6 in the "back ages.
What would hare been the nIipbr
OF the nations in the Great World war
If they had been restricted to metallic
currency?
And there Is no more necessity OF
issuing large volumes of paper money
than there is necessity of issuing
large volumes Of interest bearing
bonds.
There should be no more issued
than the needs of the government re-
quire and if restricted to currency the
needs would be less because paper
money is non interest bearing, and the
paper money would be just as sound
as the government is strong.
When the final crash came to the
Confederate government its gold bear
ing bonds went the same way as it's
paper money-one was no more valu-
able or yalueless than the other.
And it would be the same way with
any other nation that went to the wall.
It can not truthfully be said that
the industrial situation confronting
us today was brought about by the
creation of vast volumes of paper
money nor is that it's history.
Deflation now as always brings on
depression and misery as is now seen
in. all sections of the country.
When money is called in and credits
are restricted depression in all kinds
OF business is the result just as IS
now witnessed.
Those who can not see it have eyes
yet see not.
Prosperity can only be brought
about by the circulation Of money m
volume large enough TO meet the
needs and requirements OF business
and industrial Developments.