The labor journal. [volume] (Everett, Wash.) 1909-1976, 1922-02-24
By Herjulf VikingssOn

Gladstone, we are told, once said:
"The surest way to get into an in
sane asylum is to study the money
question" | have asked American
journalists why they do not write
on sound finance. In reply they hold
up their hands in holy horror eX-
claiming: TOO deep for me-"
These more or less intelligent gen
tlemen, who do not hesitate to dis
course on international questions,
analyze labor controversies, lash
transgressors of stupid laws, or apo
theosize a grand marshal of finance,
cannot, or will not, TO dare not dig
to the tap root of most OF our social
ills; our prevented money system.
If they but would, they would find
the fundamentals of finance as SIM
pie as putting on their hats-it Is
the cunningly devised superstruc-
ture of abuse which is so difficult
to understand.
The elemental simplicity Of this
very necessary adjunct to q conven-
lent exchange of commodities appeals
to common sense and delights the
mind; the artificial intricacies with
which IL mas DSeI sui IOu4'uCu AAilNtSA9
penetration and discourages the mind.
The first step in extracting oursel-
yes from financial bondage is to COM
prehend the elements of exchange
and taxation. 1t requires no intense
study; the story of the Guernsey
Market House will at once enter your
understanding, will you but read:
1t was after the close of the Ma
poleonic wars, that the Estates of
Guernsey" resolved to build a mar
ket house at St. Peters Port, the
capital city of the island. The OBJ
iect was to provide a shelter for the
farmer and a convenience to the
citizen on market day, which was,
and still is, Saturday.
Wealth Without the Money Gauge
The problem was, as usual. ito get
the money" There was no money IN
circulation; in fact, the war had
drained the island of its coin, so
there was none to circulate. In other
words, there had been a contraction
Of the currency as now, after the
World War.
A committee was sent to the gov
emor, to ask if he could negotiate
loan for the city of Paris or Lon
don. The governor thought he could;
but, said he, you will have interest
to pay. Of course, they did not eN-
pect to borrow money without paying
interest.
But, said the governor again, do
YOU conceive that when YOU have
built the market, you will wish to DO
other things; build the sorely needed
sea-wall OF repair your almost i'm
passable roads. and that such pro
iects would necessitate additional
loans. meaning a continuous increase
of debt and interest, from which you
will never be able to free yourselves? ?
Well, yes, they supposed so-but was
there any other way?
Before answering your questions,
the governor replied, l wish to ask
YOU a few:
Have you any granite for the foun-
dation?
Yes, at St. Sampson (another city
of the island)
Have you brick for the building?
We have the clay to make it from.
Have you lumber for finishing? ?
Yes.
Have you maSonS, bricklayers and
carpenters to do the work?
Why, yes, your EXcellency; why
do YOU ask these questions? You
know that we have all these things
and that starting such public work
would be a godsend to our idle work
men.
They Have Money to Burn
Well, the governor said, | merely
wanted to impress upon you the fact
that you have all that is needful to
build a market house.
Yes, the committee assented, all
except the money.
Exactly so, said the governor; now
suppose that we print the money?
Can that be done? asked the citi-
zens in astonishment.
Would you be willing to try?
queried the governor.
But would there be no danger of