Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1933-11-30

uTSudy. November 81,
who cannot afford to own cars.
Now, last but not least, we come
to Money the love of which is
said to be the root of all evil
You are buying gold at home and
abroad, and seemingly with the in
tention of increasing the value of
gold and depreciating the value Of
our own dollar. / have no doubt
you and your advisors are much
wiser men than I, and / trust all
will be well in the end. am led to
believe that the intention is to go
back on the Gold Standard, with a
dollar continuing about one-half the
gold our former dollar contained,
that gives us approximately Ten
Billion Dollars of gold backed cur
rency, instead of five, in one sense
it doubles our money, but in my
opinion it is only chasing the devil
around the stump, it is not putting
ring in his nose. Ii we had all the
gold in the world, and other nations
went off the gold standard, our gold
would have little value to us, we
could not spend it for foreign goods
or in foreign travel, and we have
little use of it at home, we prefer
the paper dollar. If the govern
ment should own the gold, place ii
in the vaults of the treasury and
issue money said to be payable in
gold, that gold could be secretly
! taken from the vault and dumped in
+ the sea, and no man need lose a
dollar. Why? Because our faith
is in the government, not in the
gold. But here is another argu.
ment, if a government can make il
unlawful to have gold, and if a gov
ernment can at will take gold away
from a citizen, or pay him for his
dollar with dollar containing hall
the amount of gold, why have {
Gold Standard?
Outside of tradition that gold has
been used as money for centuries, i.
there any logical reason that we
the wealthiest nation on earth, re
strict our trade and exchange anC
risk again the valuation of all oul
wealth on the monetary basis of {
commodity that can be juggled a
the will of the money changers?
Ny wealth is invested IN Govern
ment Bonds, the bonds are a prom
ise made by this government to pa,
me in gold, and presumably in dol
lars containing the same amount o
gold as at the time of contract I
was discovered that there was no
enough gold in the world to pa,
these bonds in gold as contracted
and we have repudiated that debt
we went off the gold standard
j Why? Because the standard of ou
money was insufficient in quantity
and of quality that could not bt
! governmentally controlled, in othe
words we promised to pay what was
an utter impossibility, and if We
should have had twice the amount
of gold, the same thing could have
happened. II you double our money
by cutting the gold content one
half, and go back on the gold stand
ard, you are still putting out an un-
sound dollar.
I am for Sound Dollar" but
not, as Al Smith says "A Baloney
Dollar l believe Smith wants a
gold dollar, and to me, gold dollar
is 'Baloney Dollar" it can be re-
valued and changed at will by either
the money changers or the govern.
ment. If we go back on the gold
standard and turn loose our gold to
all corners, it will land in a foreign
country and will again become
plenty high, or on the other hand ]
will bet you good sc cigar that
within fifty years, science will pro-
duce gold in such quantities that il
will be used for fish sinkers.
AS described in my former letter
the basis for our money should be
of substance that cannot be re-
moved from government control