The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1923-08-03

could never agail
arise. But with such men as Henri,
Ford and Thomas A. Edison talking
about commodity money there is M
foretellfng what may happen.
One of the plainest lessons taught b,
financial history is that whenever &
nation issues paper money with moth
Ing back Of It, that nation Is on th)
road to disaster. Look at Russia with
its worthless rubles and Germany
with It's worthless marks. Think Of
what happened In France during the
years Immediately following our Revo.
lutionary War.
The common people of France rose
in their might, tore down the Bastile,
and made reprisal for centuries Of
kingly crime and oppression. The
profigate court had piled up taxes rn-
til they were unbearable. The en-
ragged populace killed King Louis XVI,
and also his queen, Marie Antoinette.
But they only threw themselves out
Of the frying pan into the fire SO far
- AAdACC6 sW01C COuC6IueQ.
Unsound Money Tyranny
At the very worst point of their cur
rency imitation they found themselves
under the absolute domination Of
Robespierre. In order to meet the
growing scarcity Of coin, paper money
called assignats were issued. First
400,000,000 francs worth, then 100000
600 were added with the distinct un-
derstanding that the 1,200, 900, 900
would be the full extent of the issue.
This pledge was soon broken and fur
Their issues brought the total up to
800 900 900 francs.
Frightful depreciation was the in
ey1table. result: and legislation was
passed making 1t crime, with six
years. Imprisonment as the penalty, II
any one should refuse to take the pa
per assignats at their face value. Just
think of It! A French peasant after J
working the entire year to produce a
crop was compelled by law to accept |
payment for that crop in paper mon
ey. which he knew to be worthless, or
90 to prison.
1t was simply legalized robbery
When the penalty was increased to
.wenty years Imprisonment the inevi-
able climax came. The Reign of Ter
'or was at its height. Robespierre
vas In supreme power. He suggested
hat more assignats be issued and II
he people did not take them the gull
otine should be the penalty.
RobespIerre's End
. This, unheard of outrage was more
han the people could stand. An I'M
nown man arose on the floor of the
invention and denounced Robes
ierre, reciting the heinous crimes he
ad committed, and so worked upon
he feelings OF the audience that,
.obespierre, the tyrant, became
obespierre. the convicted criminal.
wo days later he was led to the gull I
tine. France had learned her finan-
lal lesson well-that money must
ave value back OF 1t.
The fallacy of unsound money is
ire to confront US again Never is +
ere enough of everything for all the
'ople. The struggle for existence is $
real struggle, and those who find
emselves In the lower strata OF hui q
an society are ready at any time to
asp at fat money or any of the 9TH c
things which misguided politicians
Id out to them.
My whole purpose Is to drive home :,
, fact that danger lies ahead and to =
ye every one to let no opportunity 6
by to use voice and influence to- g
I'd keeping the wampum of these e
tied States, as 1t is today, the
lndest currency In the world. tt