The Elk Mountain pilot., 1923-01-04

HELP THEM TO ACCUMULATE MORE! This process has
been going for centuries! In every country it
That why the wealth of the world
few hands, and the older the country the harder
the conditions of life! INTEREST DOES IT. and as
things stand, must pay interest annually
billion dollars-3O thousand millions-of bank
credit substitutes for real illegal tender) money!"
"The Rayages of Interest,"
The writer might have said that this TRIBUTE is
paid the banks by the people ON THE PEOPLES OWN
MONEY!
Paul Thieman, former editor of the Denver Post in
editorial review of Holden's book, THE DISTURBING
FACTOR IN HUMAN AFFAIRS says:
"Hoden's proposition is not human itarianism; it is
not confscaon it is not sociasm-it is something
and unique though simple that fits with the present laws
and order of society He the origin of all social
ills to FUNDAMENTAL CAUSE, namely, to the RAW
AGES of INTEREST! Interest the UNESCAPABLE! I'm
escapable under the present money system Why
capable? For the simple that all business is trans
acted with CIRCULATING MEDIUM THAT is LINZ
TIED IN AMOUNT, and matter how much WEALTH
must pay interest to the Of the
fixed circulating medium! Why, be whether it's
the gold standard free silver the old greenback
party idea the would be true namely, circulating
medium for which interest must be paid! clearly
the dstinctionthe and utterly complete dis
tinction BETWEEN WEALTH AND MONEY! l the
startling point that while civilized society possesses
wealth vast that the figures mean something incacu
table, it transacs business with meeger fraction of that
wealth in the form of dollars of gold and silver And this
calm words pointing out that the gigantic
fabric of modern society the victim of the rude
money system of our barbaric ancestors"
Another convert to the Holden plan Albert Tai
mon Morgan, who wrote:
Your contention that the 'thra of civilization is
INTEREST," and that interest for money legazed rib
which be abolished by changing the wording of
the Coinage Act of 1892
the mind test the character of the forth
sustain your claim You marvel that intelligent human
beings have for so long been pay the
of medium for exchanging products of their labor
that absorbs their surplus earnings
and make it clear the attentive reader that society
will avoid the mpoverishing exactions of the usurer
whenever it shall provide itself with volume of legal
money equal to its commercial needs Whether as a ma
on we have reached that of mental development
however, which will enable throw off our shackes
will be answered by the reception accorded vour demon
since gold and silver are simply forms of
wealth. oy law entitled to money representation the
pe circulation on application of the owner; and since
oohds are also granted such representation
@ ,Um sense as well as common honesty demand that
equay suitable forms of property be given mon
pe"a''on' 70 the end that the supply may respond
70 'he requirements of commerce l venture that the
logic OF your thesis irresistible and that the
oy oil your proposition as a means of eliminating the
se ior currency (whie affecting hire fer the
Pofer'y grows upon the mind the reader and upon
~ understanding the more he thoroughly weighs the
'ng OF the terms you employ and the more he per-
es .he true relation of money to the develop ment
@ 'Niizaton That you have solved the great problem
ny pointing out feasible remedy for poverty among the
will be clear students of the subject who
are ready to accept the truth"
prosperity Held Impossible
o,her we-known publicsts have signified their ac-
OF this philosophy and have written inspredly
continued page thres)