The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1922-04-20

country At heart, should have thot oi
that when they ordered drastic de-
! hation." They should have known, and
probably, did, that defiation in Amer
lea which would reslt in dear money,
would make a wider margin of diff
ference in exchange rates with Europe
that was continuing imitation and
cheap money. Is it possible that some
Of y international bankers held en-
orn1ous European war securities that
were subject to become valueless un-
less American resources and labor
could be m~arshalled to their support
and their value be restored by Ameri-
can commodities?
Home Consumption Versus Foreign
Markets
Had more thought been given to
domestic conditions and more atten-
ton paid to home consumption, prices
in u basic products would have
never suffered such a collapse. When
we threw 5000, 900 out Of employment
who were earning about an average of
$500 per day or about $6,OO0,OOO,O 900
per year, Think Of the effect this
amount of money would have nan up
ION our domestic market had it been
spent for necessities and comforts of
life? AS a nation, we can produce
practically everything we need for
home consumption and we are really
practically Independent of foreign
trade, save for the necessity Of adj
justing trade balances. It is a crime
to force American products upon a
foreign market until the maxium de-
mand in this country is first satisfied.
We need to adjust our economic sys-
tenn so that u people can consume
more and have more of the pleasures
and comforts of file as we'll as of the
necessities. If our people produce the
commodities, any system is criminal
that denies to them the results of
their toll in pleasures, comforts and
necessities. Our present system does
it. But there is a way of allowing our
people to realize more of the fruits Of
their toll and that is through a proper
momentary system, a system that
really circulates for tn people, a sys-
tenn wherein money is really a circul-
ating medium through which the peo-
pie can exchange values, and not a
system wherein money is purely a
commodity with which to engage in
trade, barter, sell, control and make
scarce, and make all human endeavors
subservient to the beck and call of
those who control and manipulate it.
One is a system for the people realiz-
ed by our Government exercising it's
sovereign Governmental functions; the
other is a system for the special pri-
vileged banking class, and their allies,
realized by the banking class being
granted sovereign Governmental func-
lions to be exercised by them privately
for their own special greed and
avarice and gain.
There is n thing I want to bear in
mind, ladies and gentlemen, and that
is that when the money power of this
country wants to divert your atten-
ton from their activities they begin
to point out other problems that face
the country and ask you to notice
them, that they are the dangers to the
nation. | want to say to you that there
is no really big and important ques-
ton before u people today that is
inseparable from the money question
and the money question usually
controls the situation,
We have gotten our present diff
ficuties because Of the fact that Con-
gress has delegated certain sovereign
governmental functions to a few speci-
al privileged to use for their own ad-
vantage. 1t is true that the rank and
file of Congress did not realize just
what first thing is to undo that which
we have done.
The Ladd Monetary Bill
With that in view I have introduced
a bill in the. Senate that provides for
the restoration of the sovereign func-
ton of the issuance and control of
money and credit to the Government,
where it rightfully belongs under the
Constitution. After extended investi-
cation and much preparation, I for