The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1922-03-17

| money. Like the average pOI1tlclan
and the average layman and the av-
erage professional, the average edi-
tor realizes the futility of Analysing
the subject, confused by theories and
facts adduced throughout several cen
turtles. Moreover, he feels safe in
stunning it because of the certainty
that most readers are not interested,
as nothing about money appeals to
them except how to make it quickly.
As topic it is discussed as "cost of
| living"
International Bankers Control Our
Money Ideas.
The financial world, however, keen
ly seeming the political breath, reacts
at once. This reaction carries, 1t ig-
nores, it objects, it approves. Some
times it misses its point, but without
serious results. What happens there
after is obvious. If it is routine adj
ministrative matter nothing is done
If it is something that the financiers
consider as being advantageous to
themselves, they support it, covertly
or secretly, depending upon the cir
cumstances and the times. If it is
against their interests, they object
and act accordingly.
From time to time there have been
Americans who have gone on record
with their views, disputing the pres
ent system of finance. 1t has been
however, the single, unhonored voice
Where it attained the distinction of a
hearing, it was dismissed without
compliment as revolutionary or radi-
cal. This criticism has always been
deadly. The mere combination of the
two words, radical" and money"
strikes panic everywhere. Greatly to
/ the advantage of these protected
financial interests, they can now point
to certain war-ravaged European ma
tions and say triumphantly: "There;
/ they have tried their new notions;
there the government is money; see
what it has caused?"
Finance as practiced today in the
! United States is very poor example
Of progress. 1t has not yet reached
the point where it consumes itself
but it has virtually stopped repro.
ducing. American finance today
yields nothing except to the fortunate
few who are not in immediate need
1t points to existing ills elsewhere but
does not advance any suggestions
which might cost money or effort
This is true of the politicians as well
as of the financiers whose views they
unconsciously, reflect.
The hope of displacing London with
New York has been frequently ut
tered; but it is a vain hope. Feeble
almost unnoticeable attempts, have
been made by associations to wag the
financial dog by its tail, but in every
case they have been afraid of both
bark and bite. At Washington proud
plans have been laid to do by law
what could not be done with money,
and the results have been nil.
Bankers Lose Most If Gold Standard
Goes.
Suggestions have been advanced for
the establishment of great interna-
tional bank, on a gold basis. The the
DRY is excellent, but the one fact re-
mains-that gold failing to do what it
was expected to do at tn first serious
emergency, it can hardly fulfill ex-
pectations through the operation of
an experimental organization as that
proposed. In setting aside this par
ticular suggestion note should be
made that its only weakness is to
provide the very metal that for the
time being has heer set asidc II Eu
rope, within certain boundaries.
Dissenters have raised the cry that
any attempt to trade with Europe
now means the depreciation of our
prosperous dollar, whatever pros
porous dollar may be, to the level of
worthless money. The point they
raise is obvious; but the twist of
meaning is even more so. There is,
naturally, every reason why the dol
lar unit of exchange cannot be equal
lied to deprecated units elsewhere,
but apart from this technicality, nat