The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1922-01-13

10y of civiliZatiOn-nOt gold nor
-. er.
1t has contended that the United
State government having the sover-
eign power to issue money and cloth
ed with authority to levy and collect
taxes to give to the. money so issued
stability and value pursues very
unwise policy to go out upon the
streets and borrow money at rates
of interest that exceed the principal
when the payments fall due.
1t holds that government bond is
no more secure tina. the issue of paper
currency of the same denomination
both having the government back of
them.
In other words, il paper money is
made receivable for all dues-public
and private-it will carry the same
weight of strength as a government
bond.
That is to say, money so issued will
be just as strong as the government
is strong, and, indeed, will add to the
financial strength of the government
because it will free it from the weak
ening burden of interest.
Mr.. Thomas Edison, one of the
great men of the world. sustains our
contention in an interview in the New
York Times last month.
In that interview the great inven-
tor is reported to have said
Make it perfectly clear that I'm
not advocating any changes in banks
and banking" said Mr.. Edison.
Banks are a mighty good thing. They
are essential to the commerce of the
country. 1t is the money broker. the
money profiteer, the private banker.
that | oppose. They gain their power
through fictitious and false value
given to gold.
Gold is relic of Julius Caesar
and interest is an invention of Satan"
Mr.. Edison continued. Gold is in
trinsically of less utility than most
metals. The probable reason why it
is retained as the basis of money is
that it is easy to control. And it is
the control Of money that constitutes
The money question Ii is the control
OF money that is the root of ali evil"
How can this system be improved
or changed?" Mr.. Edison was asked.
1T can come about in several ways.
One way would be to produce Sc
gold that its psychological hold would
be broken. If we all had mines in our
back yards or if synthetic gold could
be made and sold for 10 cents a pound
you would soon see gold disappear
as the basis for money. And we are
nearing just that; only a few days
ago scientist developed that lead.
one of the basic metals, and hereto
fore reckoned as an element by itself,
is actually compound We do not
know how near We are from finding
that gold. too, is compound. All
the wealth in the world, according
to our present standards, may be
rendered worthless by the discovery
that gold can be made alphabetically.
In that case people could no longer
have confidence in it. Money ought
to be plentiful and gold is not plenti-
full. 1t would be plentiful if it were
mined in as large quantities as it
could be, but an artificial scarcely is
maintained by those who use gold to
monopolize money.
That is one way to do ft-make it
SO plentiful that it browns its fictitious
value and browns the superstition of
the people along with it.
Then there is another way-the
method my friend Ford proposed the
other day. He proposes just to go
along and forget about gold. He says
that the Government can finance Mus
Gle Shoals without applying to money
brokers for permission. and 1 think
he is absolutely right about it.
"Of course. as long as the world
is on the gold basis, we shall have
to recognize it as an element in in
ternational trade, but it is not neces-
sary for commerce within our own
borders. In internal business we can
forget it. And we do forget it. If
everybody in the United States sud-
denly demanded gold for their money.
there would not be enough gold.
Gold and money are separate
things. you see. Gold is the trick
mechanism by which you can control
money.
Gold is not money until the people
of the United States and other ma.
tons put their stamp on it. 1t is not
the gold that makes the dollar. It is
the dollar that makes. the gold. Take
the dollar out OF the gold, and leave
it merely yellow metal, and it sinks
in value. Sold is established bv law
Just as silver was, and gold could be