Fitzgerald leader enterprise and press., 1922-01-06
lRD WANTS A CURRENCY BILL; WE
AVE ONE TO GIVE AWAY-Henrv Ford is


AVE ONE TO GIVE AWAY-Henry Ford is
&the right track He wants an improved system
Finance that will be elastc, fitted to operate
spite OF poor crops, international turmoil or any
ger artificial or natural handicap that has broken
wn every other system of the past just at the
#ae When the people were most in need of an un-
Hpered flow of money, the feblood of com
rec and industry
way back in 1908, when unusual financial
NuTpanees were cracking our then vouched for
sest banking system of the world, and banks
ire breaking under the strain and combinations
LOCAL banks everywhere rcsored to issuing tenn
Ta'y certificates which were accepted by local
rme,s and manufacturers in lieu Of money and
#t'rn paid to labor from whom the merchants
quo receive them at par in cxchangc for
Erchandlse. The following Currency Measure"
Ups published for us by the then editor Of the En-
Fpr'se. J. E Mercer and later introduced in Con
Mess by the late Congressman i. b. Lewis of this
#strict All that was needed at that time TO Sc
gre national recognition for the new law was
aSnances to get the idea before the American
Nblic Mr. Ford has the finances and though if
Jay be necessary TO change some of the bill vet
ee principle involved will be the same and is in
entormity with a recently published opinion OF
lr Ford, in regard to hs plan to finance the com
aetion OF the Mussc Shoals project.
Our bill read as follows and we hone some of
ur statesmen, who endorsed the same in the
Etrongest terms, being now in the Senate. NAV
rs Their talents in securing hearing for it.
CURRENCY BILL
sE0 IlON !. The secretary Of the treasury be
tad he IS hereby authorized 10 issue currency in
fnch denominations as desired by the applicant
state, county or Municipality authorized in tbis
TT to deposit their bonds with the Secretary Of
the treasury
+ SECTION ANY State OF the Unitcd States
desiring 10 make such public improvements as
Frecting public buildings, building public roads
and Tor the Improvement OF its waterways within
fne State, shall be authorized to issue bonds, NOT to
exceed per centum OF the taxable value Of
Inc property within the State. and which the Sec
rotary OF the Treasury shall exchange for crrre,-
cy as hereinafter provided.
SECTION 3. Counties in anv state des;r,o
70 erect public buildings, school houses or 70 i'm,
prove PUBIC roads are authorized to deposit bonds
not 20 exceed seven per centum Of the taxable
property IN SAID county and to receive currency
acr same as hereinafter provided
# SECTION 4. municipalities desirino to ero,,t
public buildings, school houses. improve streets
or Dniid sewerage systems are authorized 10 is-
fne ponds Tor same not to exceed seven per centum
o' the taxable property of said municipality and
20 exchange them for currency as hereinafter pro.
vided.'" p'o'
|. ~. loN , In no instance shall currency be
issued Oh such bonds when said municnal;t, b,s
'heen organized less than ten wears. or has ,ess
man tive thousand population, or where the in
'srest on their present bonded indebtedness has
been defaultcd within five years preceding s,cb
application
& SECTION 9. The interest ON such bonds shall
De iour per cent and shall be PAYABLE in cold or
silver coin, semi-annuav.
SEcTION7 4 The Treasurer of the United
states shall keep separate account OF such tran
sactons. and when the interest accrued is cara, -
ne par value OF the bonds plus per cent per an
num- ne snail cancel said bonds and return them
to the authorities who issued them