The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-01-08
Fiat Finance and
F~oolishness
CNat.onal Republican,

fNat.onal KcpuhliCanl
During every IRA Of dcflation. fol-
lowing IA period Of initiation and spec
ulation. comes u movement for cur
like that OF getting drunk again to
cure the headache and general physi-
cal Generalization after % debauch.
Apostles OF the people. ut such times
arise to remind the debtor that while
he contracted his obligations when
money was easy he Is having 10 pay
when money IL tight. Campaigns
OF this kind az, always characterized
bV "A great deal ~ iurid rhetoric about
the money barons. the plutocrats. the
bloated bond holders and the big in
terests.
The United States has passed
through several suoh periods, the most
recent being the campaign 81 1895.
featuring Coin Harvey, free silver,
william J Bryan, his cross Of gold
and crown ~ thorns. Now with de-
flniion following the initiation nm
speculation Of the war period, with
the day 81 settlement succeeding the
day 81 financial JOY riding. d"ma-
gogues are spring up OF every hand
with schemes FOR making everybody
rich and happy once more through
the free and unlimited issue OF Hat
money.
Whoa the federal reserve law was
paSaed eight years ago, one 81 the
leading bankers ~ the middle west
declared hat while the immediate
effect Of TIN measure would he good.
II represented "a dangerous vcntuic Of
the government into the banking bus
mess and held possibilities Of infla-
ton which would ultimately hrihg
reaction and the renewal 81 ugita-
ton against banks and I'm favor Of
more radical inflHttonary measures.
wi 49, - -. .ua.N IAUNaaaA
by the necessity OF expanding cred
~ during the war. when that Dredic-
tion ~ being fulhlled.
Dcmagogucs with political bees
huzzing in their hornets. are arising
20 propose all sort Of inflgtioRhry
~pRnaceas for the evils arising u ufI
the recent process Of initiation. Coin
Harvey IL writing a series Of articles
for the socialist Appeal to Reason.
Henry Ford and Thomas Edison who
have gained fame In the realms OF.
gasoline and electricity. come to the
front with a scheme for the revival
Of the AsSignat experiments Of France
during h revolution. They would
issue currency based m h properly
owned by the government. This
means an unlimited supply OF new
money based on the ownership Of
The national capitol n other gov
eminent buildings al Washington, the
forest reserves, the national parks,
the Muscle shoals dam and, maybe.
our airplane and shipping invest.
ments during the war II n the
opinion Of Messrs Ford and Edison
hat there IN no reason why every
n should not have a pocket full Of
money while there are So many print
Ing press ~ in the country that could
he utilized 10 grind out bills based
upon the credit OF the United states.
nawruM ne aud nNNaaNu nra NFNlnU fllu
plan out at the present time. The
German mark n now n -fortiCth hs
former value. An American visitor
TO Germany tells how the exchange
value OF her money shrank consider
ably between the time when she en-
tered "a German bank and tho time
her supply Of marks was handed oNer
tho In Russia YOU trade .
wagon load of paper money Tor a
basket fun OF provisions. But, a.
Mr., Ford and Mr., Edison point out
everybody Is az work In Germany un-
der this system. But that is because
no one practically can stop working
without beginning to starve AZ once,
n the fluctuations Of the currency
are cheating the producers for tho
benefit Of exploiting capitalists and
aliens.
However. Mr.. Ford is a candidate
for president and IL interested In the
workings II his financial scheme only
In 80 far ms u will promote his poiit-
icel prospects, otherwise being boosted
In the outcry OF publications and pol-
i~ticianH and attached 20 his encourage
about the wrong that was done the
nations honor when he was prevented
from coming to the senate In place
OF MFR. Newbcrry. Ito Ia ready TO
advocate tbs free and unlimited mint
ase Of pof4to peelings II u viii nelp
him become the candidate Of any
old party for the senate. the pres
idency or any other old place.
II VIII he the part OF wisdom for
people WHO believe In sound princi-
pies Of government rather than in
disastrous revolutionary experimental
tion. 20 take note Of the multiplying
symptoms OF the near approach n
another inflationary movement, and
81 the conditions which maze poe