Evening star., 1934-03-13
Offers Plan to Provide for
Larger Circulation of Currency

To the Editor of The Star:
The circulation Of commodities and
medium of exchange is the backbone
of our economic recovery.
When this thought is given some
study. you can readily see that the
human body is taken as the funda-
mental factor In the operation OF
every essential requirement of man.
The first of these essentials is ma
terial, such as food, fuel, air and
water. The body cannot exist with
out them and all industries are de-
pending upon them. From this ma
terial the body builds up supply Of
blood which is manufactured just as
industry takes practically the same
material and creates hundreds Of
daily essentials.
The heart of the body acts as the
circulating medium of that which has
been manufactured, and for this
organ to fail to function properly
means a breakdown in our human
structure, ultimately death. So We
can say all that has been created by
man will come to a sudden stop or
overproduction, and this will mean
the ruination Of the world unless the
circulation is properly resumed.
Circulation must be brought up to
standard required by human needs,
and the basic value We must use for
the economic recovery of the people is
money.
To create this circulation, people
must have money. We have waited in
vain for the banks to take the steps
necessary in supplying this money, but
their cry is I'VE must protect our
depositors. 1t is not the depositors
with a few hundred dollars that they
are thinking of. It is the real
moneyed people that are invariably
connected with the operation of these
institutions that are being protected.
but I will say that if conditions do
not readily adjust themselves, we will
find a socialistic view taken by the
people They will demand an equal
distribution of money, which is a
poor policy, as in the course OF time
within any group of people, there are
few that will always manage to ac-
cumulate more than their require
mentS.
Considering that the banks would
not start this circulation, naturally
we will expect relief from the Govern
mer1t in the form of loans to the peo-
Pile of non-bankable currency.
To those who wish loan. the sum
of $500 could be borrowed If they are
roporIoI IN, ha aloo{iny, Iicfript
proper Endorsements.
This money is to be used only in the
purchase of new merchandise and
not to be applied on old accounts.
All purchases made will be free from
liens of any kind until the loan is
repaid. The full amount of this loan
should not be paid to the borrower at
once, but over a period of time, so as
not to create buying spree.
This money can be banked only on
checking accounts, not to run over
5000. This will be legal tender ex-
cept Tor the purchase of stocks and
bonds of corporations.
The principal use of this money Is
the payment of wages throughout our
industry, and when We can circulate
that type Of money We will have
prosperity.
Naturally, with our codes and
various laws to help revise industry,
those who will work can find work;
for example. an average priced car
that is purchased gives one man en-
ployment seventy-one days.
The borrower of this money shall
repay the Government by installments
within five years and at the end of
six years this money shall be recalled
from circulation, and in no instance
shall any one person be able to
redeem over 81 1000. It will be neces-
sary to make punishable by fine or
imprisonment any person or corpora
tion who refuses to take this money.
Some form of insurance can be de-
vised to assure the payment of this
money, SO that the Government will
not lose by this new deal.
It Is q known fact that the average
person will pay his bills If he has
the money and the assurance OF his