Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1933-09-21
ABOUT MONEY SITUATION
Editor Askov American:

Editor ASkOv American:
We read in the papers that if the
President will use the power granted
him by Congress and cut the gold
value of the dollar to half of what it
is now, then the farmers can be re-
financed on a stable basis. / think he
has good reason for not doing that.
Why not just as well discount all
debts, public and private, to One-half
of what it is now. That would be
about the same thing. 1t would be
easier done, and would not be any
more against the constitution than it
would be to make two dollars out of
one and then pay with such dollars.
OF course, split the dollars in two
would double the number, but it will
not help how many dollars there will
be made as long as the system is kept
up that makes it possible for the big
capitalists to gather them all up for
themselves. 1t is that system we
must check. The patch work on the
evils from it will help only tempo
rarily.
At the time the government of the
United States was organized the Con-
stitution was adopted, and in that the
power and duties of the President and
the Congress are plainly stated. Ar
ticle one, section eight contains the
power of the Congress, but there is
nothing said about to grant any power
to the President; so that law granting
power to the President must be I'M
constitutional. All the power of the
President is stated in article two and
can not be increased or decreased
without an amendment to the consti-
tuition. Article one, section eight,
clause five. reads: "The Congress
shall have power to coin money and
regulate the value thereof" Congress
then fixed the rate of weight and fine
ness of gold that dollar shall con-
tain, and that is the kind in use now.
All debts contracted for is that kind,
and in gold as long as we have the
gold standard.
Under gold standard. all people must
be entitled to have all the gold they
are the real owners of, and to get gold
for all other money, or the gold stan
dard is dead. What constitutional
right can the government have to call
the gold in? They don't need it ex-
cept to redeem other money with it.
and to pay gold debts; and then the
one having it should be as much en-
titled to keep it as the other should
be to get it if there is no class law
for this problem
The big capitalists are calm. They
must be satisfied with what has been
done so far, but split the gold dollar
in two and they will soon have it up
in United States supreme court, as all
their money and credits would there
by be cut down to half of what it is
now. A law to do that would be re-
acting, and such law is forbidden
in article one, section nine, clause
three in the constitution.
No wonder Roosevelt inserted the
clause in his law, that if any part OF
it should be declared unconstitutional
it should not affect the rest of the
law" The President surely knows
the constitution, and depends on as
long as his dictatiOn doesn't affect
,, the big capitalists, there will be nc
objections to it.
The people who contracted debts
in accordance with the high prices
| think will have to suffer for il
themselves, and say to themselves
Too bad that we could be so foolish
as to think such prices-about double
the real value-could last long
/, enough to get the debts paid. Moth
, ing but buying power can make
good sale with good prices. AS long
as millions of idle workers shall live
on charity only, they don't get enough
to make a good market. Idleness
is bound to increase on account
of the idle cannot become real con-
sumers, and the machines do the
work, and the profit system takes
what should be used to buy the
, products. So check that with tax
!, at a raising scale on all net incomes
, above what is needed for to live, and
take all taxes off living expenses, SO
that money can go to the producers
in form of higher prices for the pro-
ducts, and for a living for the idle
workers, and the number of idle will
by that be decreased by more work
for the producers.
ANDREW RASMUSSEN.
| 5000 West River Boulevard, Min
neapolis, MINI.