The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1933-10-26
INITIATION OF SOME SORT APPEARS TO BE
NECESSARY, BUT HOW?

The best minds in the United States, banker,
business man, laborer, farmer Journalists and pro-
fesSona men, not satisfied with the present fnan
cial set-up in this country.
1t is quite generally agreed, however, that some
sort of imitation of the monetary system must be
made
The "big boys" of course are very leary about
getting very far off from the gold standard. Others,
equally interested in the recovery of normal con-
ditions the Wall Street crowd insist that the
government instead of issuing increasing numbers
OF bonds at varying rates of interest and for varying
length of periods issue instead money for the
obligations. They argue the faith and credit
the government is back of the bonds and that the
faith and credit of the government would be back
of the paper dollar-and that the increasing annual
intrest bill would be saved. \
President Roosevelt was authorized by the last
session the Congress to initiate the currency of the
country when, in his judgment, conditions warrant
ed. The manner of deflation was left to his judg-
ment.
Many have come from Washington that
the President would take some action. President
Roosevelt is believer in the gold standard. The
theory there must be gold in the treasury to back
up the paper money of the country is largely erron
eous, because there isn't now, and hasn't been for
long, long time if ever sufficient gold in the hands
of the government to redeem the paper money in
circulation.
AT the present time poll is being taken of
members of the Congress to obtain their sentiment
imitation The poll is not complete. By more than
two to the members of Congress who have been
heard from favor imitation. Almost every member
has his pet idea to how it should be accomp-
ished. The popular sentiment seems to demand the
devauation of the gold dollar, with varying degrees
The Herald editor has studied this question to
some extent The more delve into the problem
the less we know about it. We convinced how
ever, that something must be done.
Much water has passed over the dam since the
Congress gave President Roosevelt more power than
given any of his predecessors. To date the actual
accomplishment in any of the various agencies set
UP by the administration to bring relief for the
er and small business men have not brought apprec
liable results.
The Herald realizes that it takes more than the
simple turning of the wrist stabilize conditions
We haven't given up hope that President Roosevelt
may be the Moses to lead his people out of the slough
of financial despond. This paper is still backing his
administration to the limit
b. f. Dubois, banker of this city, has been
greatly interested in the nations financial problems
for long time. He is student and decidedly pro-
gressive in his viewpoint The other day he handed
the Herald editor article headed "A Plan to Limit
Agricultural Production and the means of Imitation
with Natural Check Imitation asking that space
be given for it.
Under ordinary circumstances Mr.. DuBos' article
would be published in the Public Forum column His
view point is decidedly different and so reason
able, that the Herald publishes it herewith:
The Federal Government to purchase saw
two sections of land in each township of the
agricultural states. This purchase to be made
through the local Town Board and this Town
Board, in each case, to buy the cheapest
land offered, but the land must be in tracts
OF not less than forty acres nor over one
hundred sixty acres and not more than one
hundred sixty acres to be purchased in any
one section The Town oBard shall be
Land is absolutely kept out of production. If
located conveniently to some City Village
II might be used for park or playground pur-
poses. This land to be paid for by a direct
issue of currency, the currency to be secured
on land purchased and at the prevailing
prices, the currency issue should be well Sc
cured
This plan for buying land in each Town
ship and in limited tracts gives very general
distribution to the imitation and scatters the
land that goes out of production sufficiently
so that the school district village will not
be seriously affected If the Estimate of two
sections is not correct, it could be increased
or decreased This plan limits production
gives us imitation, and at the same time limits
lnnation Ii too much land is taken out of
production or if the population increases
this land can be sold back to the farmer and