The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1922-01-12
The THOS. EDISON INTERVIEW ON
HENRY F0RDS FINANCIAL IDEA

5 ers. In internal business we ca
forget 1t. And we do forget it. ]
everybody in the United States sue
denly demanded gold for their none
there would not be enough gold.
Gold and money are separat
things, you see. Gold is the trio
mechanism by which you a contro
money.
Gold is not money until the pee
pie of the United States and othe
countries put their stamp on it. |
is not thee gold that makes the dolla
1t is the dollar that makes the gold
Take the dollar out of the gold, ant
leave it merely yellow metal, and i
sinks in value. Gold is established
by law, just as silver was. Wher
silver was demonetized the formed
so-called dollar became wortht about
SO cents"
But would not Ford's suggestion
that Muscle Shoals be financed by q
currency issue raise some objection?'
Mr.. Edison was asked.
Certainly. There is a complete
set of misleading slogans kept on
hand for just such outbreaks of COM
NOR sense among the people. The
people are so ignorant of what they
think are the intricacies of the
money system that they are easily
impressed with big words. There
would be new shrieks of fiat money
and paper money and 'greenback-
ISM and all the rest of 1.-THE same
old cries with which the people have
been shouted down from the begin
ming.
"But maybe we have passed beyond
the time when the thoughtful 2 per
cent-you know, | gather from my
QUESTIONABLE that only 2 per cent of
the people think" and Mr.. Edison
smiled broadly-"maybe they can't
shout down American thinkers any
The only dynamite that
works in this country is the dynamite
Of a SOUND idea. | think we are get
ing a sound idea on the money ques-
ion. The people have an instinct
which tells them that something is
wrong, and that the wrong somehow
in money. They have an in
;tinct also, which tells them when a
proposal is made in their interest or
it.
"Now, as to paper money, social
ed, everyone knows that paper mon
is the money of civilized people.
The higher you go in civilization the
ess actual money you see. 1t is all
ills and checks. What are bills and
Mere promises and orders.
What are they based on? Principal
Y on two sources-human energy
nd productive earth. Humanity and
he soil-these are the only real
asses of money.
Don't allow them to confuse you
nth the cry of paper money The
of paper money is precisely
ne danger of gold-if you get too
luch it is no good. They say we
ave all the gold of the world now.
FELL, what good does it do us?
Then America gets all the chips in
game the game stops. We would
e better off if we had less gold. In
aed, we are trying to get rid of our
Did to start something going. But
lie trade machine is at present jam
ed. Too much paper money oper-
,es the same way. There is just
lie rule for money, and that is, to
enough to carry all the legiti-
ate trade that is waiting to move.
90 little or too much are both bad.
ut enough to move trade, enough
prevent stagnation on the one
md and not enough to permit spec
alton on the other, is the proper
''Then you see no difference be-
currency and Government
Mr. . Edison was asked.
eyes, there is a difference, but it
neither the likeness OF the differ
that will determine the matter;
e attack will be directed against
of bonds and currency to-
Their and comparing them. If peo-
= ever get to thinking of bonds and
lis at the same time, the game is (
"NoT, here is Ford proposing to
ance Muscle Shoals by an issue of
Very well, let us suppose
r a moment that Congress follows ,
proposal. Personally, | don't
ink congress has imagination emo
h to do it, but let us suppose that it a
es. The required sum is author q
ay $30,0O0,00O. The bills are q
ued directly by the government, as =
mGey ought to be. When the D
r paid off they receive .
Continued on Page III =