Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1934-01-11
WHAT ABOUT AGRICULTURE?
By MILES H. FAIRBANK, Secretary Treasurer
MARYLAND FARM BUREAU FEDERATION
BASIC PROBLEMS THE MONEY QUESTION
PART VIII

will that pretense
being able to anything
solution of this problem,
fundamental facts
and clarity thinking this subject.
The farmer expected only
conception of what really Certainly
modify to be manipulated for profit banking
interests and the speculative
characteristics, but Sold is
true therefore, that such is primarily
OF exchange then it be said authority
man. and this includes the very conception
of the currency question from that angle To him
three purposes.
First, to meet his living expenses from day to day
Second pay debts and
Third to accumulate any emergency that
may arise leave his perhaps off in the event
of his death.
Inc average farmer has little
currency question beyond these three Certainly he
not particularly question of making money with money
but he is just anxious stable reliable
currency system
SO much has been said the platform recently
about the problem; standard silver rubber dollars
Daloney dollars initiation greenacks credit that there
wonder there much confusion, that
first the psychological true that such
terms Sound money! god Standard values" etc. have
to "off the gold standard acommov d1n a s as @
"hen Oey roll OF our tongues, being unstable
None naturally progressive We hesitate to renoub ANY,
thing that in the requhng something else Mankind
depression farmer is the first one to realize that his
hopes M largely the result something being wrong with the cur
we are told that invariably it country
gold standard and therefore currency existence depending
largely upon the amount of gold existence give enough money
to - go sH e'
This is statement of what
actually The opposed any change in the
system counter this statement by quoting the question credit
as the chief wheel keep the industry turning not
satisfactorily he question.
Credit important adjunct exchange goods and services
TO 1879 Therefore the farm first
70 demand in each period of depression
system mainly the idea that the does not
suncaem acua metal to take of the
nation. ~ " growing
the growth population developments higher standards
living (which always call for more money! then the gold standard would
that this development and coincide
sequemy always expand credit meet the
lack of until the gets beyond the actual values
behind il, and then have a
There then liquidation everywhere are reduced
and start off the past Such isl
the situation The remedies outright initiation
(Which incidentally considered and
revoluton) as an addition to the old
standard and such theory fame Another
is vauate currency can be issued for the
same amount of gold of dollar that will
E ana lam IN Terms OF gold line with the general
level Inc latter is what is known today commodity dollar
my opinion day come to commodity dollar
In other words WILL
the amount needed maintain stable
serious objections that be cited against policy
facts that such idea line with the
what currency system should be like.
federa
but the Federal Reserve found itself frustrated banking
interests retained control of manipulate
speculation The commodity dollar
Congress by of bankers but
beyond public reach perhaps the Supreme
the United This
sure great majority OF the people yet
applying the
applied to other things The banking
economists of the banking principally because
all their theories based the
the present reconstruction period is doing anything
rapidly squeng that idea As before accepting the
and the valuable the the will
will be just under
but the speculative features that group
wealth by the misfortune of one
seriously object to this for absolutely
receives dollar which