Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1933-03-16
BIG HOLIDAY
MEET AT ASKOV
Continued from Page u

sold-standard countries than is gold
Lii also stated that silver in the his
tory of money occupies a position of
no less Importance than gold.
Mr.. Madden then discussed the var
ius phases of moneys history in Eu-
ropean countries and in the United
States as follows:
The bimetallic system was in use
i'm the Roman empire up to the time
of Constantine, so We see the money
question is nothing new. In fact
think that there are just causes to
complain of the way our nation has
ton. Passing over several hundred
years. which would require too much
time, we might make one more stop
in Europe. | draw your attention to
a controversy between a very learned
bimetallist and Freeman Press. This
Europe using bimetallism money did
not vary over two points in ~ years.
Thus we see as the table shows
with silver at an index of 100 and a
list of As commodities at SO this ratio
held almost unchanged, whereas after
monometallic system effective in
1873 prices of commodities followed
silver down to an index of 6S. 1t was
argued at this time that farmers buy
ing lands on long terms of payment
at a set rate of interest, that if an
absolute gold standard was adhered to
farmers could not pay for the lands.
Each succeeding year it would re-
quire more and more products to ac-
quire the needed money.
Gives Moneys History Here.
Coming to tine U. S. A with it's
money trials, | find this nation using
bimetallism in its infancy at a ratio
of 16 to 1, though for a time it was
Is to 1. This change was made to
yer as at the ratio of 16 and France
was SO, the silver naturally went to
France. Bimetallism, at a set ratio,
does not in any sense do away with
gold as standard, rather it stabiliZes
the use of gold and compels it to stay
in place. Men have never devised
any monetary system which is the
same all the time, as for instance
three feet is one yard, and no change.
Just why are you compelled now to
furnish three bushels of wheat to get
a dollar: or a merchant finds he must
mark down his prices if he wishes to
trade any goods for dollars; it is
just the ancient story-dear money.
To my way of thinking our monetary
system is the major offender.
In closing, Mr.. Madden advised
changing the monetary system so that
money shall function as it should and
in this way the 80 million men on the
land will prosper, and when that 80
million prosper together with the 10
TO 20 million who are indirectly in
terested prosper there will be 40 to
30 millions of customers able and
ready to buy goods which is apparent
ly the way out of the present trouble.
Mr.. Madden stated that he has no
faith in the allotment plan but that
he believed in adjusting the monetary
system
The other speakers. Messrs. Sandell,
Percy, and Greenwald, talked few
minutes each on matters pertinent to
the organization and to the farmers
plight, which remarks were well said
and well taken by their audience.
At the close of the meeting a resolu-
ton was introduced by H. r. Buck of
AskOv, and passed to the effect that the
meeting go on record as approving
Governor Olson's program as outlined
in his message to the conference of
governors. recently held in Washing
ton, d. c., a copy of which will be
sent to the various senators and con-
gressmen from this state.
The meeting was presided over by
Lars P. Jensen, chairman of the Askov
unit, which has about 200 members
and is still growing.
ROyaltOn Meets March 5.
A meeting of the Royalton unit of
the National Farmers Holiday asso-
>i''ioii, ""o liSiu ttl tilC lo"Ii
Sunday March 5. A large crowd
gathered and the meeting was very
interesting. j. j. White of Ogilvie
was the principal speaker and gave a
very good talk on the necessity of this
movement as well as the good that
may be accomplished by an organiza.
ton of this kind. All that is being
asked for is cost CT production plus &
small profit which is legitimate ir
any business, and without that NJ
| business can survive. said Mr.. White
1t was also pointed out if this new
administration now going into power
does not give us substantial farm re
lief in the near future we will likel!
have to call a holiday the same a:
banks and some other institutions
which now seems to be getting popu
lar.
A motion was made and carried t,
demand a cut on livestock truckin,
from 35c per cwt. to Csc, since tn,
latter rate is being charged at man.
other places while even haulin:
longer distances.
Charles Beckman, chairman Of tn
county unit gave talk on legislation