The Washington times., 1935-01-30

CAOGA4Co. ALlA I!lc $&$&#
real reason why &$EESSE#'
they lack these Lewis Haney
is that they can't get work or
find markets for products.
They really don't need more
money, but more food and clothes,
and to get these things they need
productive employment and good
business.
Our forefathers got along we'll
with very little money, because
they raised their own food and
made their own clothes.
The primary function of
money is to serve as a medium
Of exchange" But what does
this mean? 1t means serving as
. MEDIUM for trading goods for
goods, or services for goods. The
things that are really wanted,
and which are exchanged, are
the goods and services. For ex-
ample, when 1 buy a pair of .
shoes, 1 am trading my labor
(wageS) for shoes, and the
money used is merely a "med.
iumS."
Thus the use of money, and
, the demand for it, depend upon
the volume of goods and SER
vices being exchanged. And this
volume depends upon the Quan.
tity Of goods, and the willingness
Of those who hold goods to trade
them for other goods or SER
vices. In short, it depends upon
the condition of business.
Obviously, there is no use in
merely printing a lot of paper
and calling it money, when bus
ness is poor, and goods and SER
vices are not being exchanged in
large volume.
I can understand how a man
who is in need can say IT need
money" What he really means,
however, is that he needs foods
clothes, etc. He needs a productive
job which will enable him to earn
wages by producing goods. so that
he can get money to buy food and
clothes.
But that is very different from
saying "the country needs more
money" There is far more
"money" in this country today
than is being used or can be used.
Untold billions of unused money
exist right here and now. The
problem is to get it to circulating
SO that those who "need money
can earn it.
And the only way to make
money circulate is to make goods
circulate and make business prof.
liable, so that business men can
employ laborers, clerks, etc.
Nobody can appreciate more
keenly than do the needs of the
unemployed for food, clothes, and
shelter. The question is: How give
these millions what they need?
Unfortunately, all this agitation
Tor more money means bad money
-greenbacks or cheap silver Ger.
tif1cateS-and this hurts business
and keeps employment down.
: II you mean by more money"
giving good money to those in
want, so that they can buy food,
fuel. clothes, and shelter while out
of work, am 100 per cent for it.
But if you mean billions of paper
money" for the country as a
whole, I consider it dangerous.
The false prophets who shout
"more money (paper) always try
to stir the hatred of those who
have no money against those who
have. They aSsail money trusts
and bankers" They call for a
'people's money"
Now I know as well as YOU
that some people have more
than they have earned" or
gotten legitimately. But what
are you going to do about it?
We are taxing inheritances and
corporation incomes up to over
so per Amt. We are stamping
out fraud and manipulation in
finance and business. What
good will it do us to print up
billions of bad money? That
would merely hurt all of us, and
eventually ruin the Govern
ment.
Nothing hurts the people
more than peoples" money"
AS a matter of fact, money il
the one thing that never has been
or ever can be, monopolized. II
is no good to anyone unless il
circulates-which is what We
want.
And we should have learned BY
this time that the surest way tt
stop circulation is to threater
business with large issues of cur
rency which are bound to depre
ciate.
TakOma Park Bank