The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-30
COUCHLIN PLAN
ROAD TO RUIN,
JOHNSON SAYS
General Answers Questions
Asked by Follower of
Radio Priest.
BY HUGH S. IOHNSON

WASHINGTON, April 3O.-Of
hundreds Of letters from Coughlin-
ties, al much alike, I have selected
my answer to one that asked 10
questions.
Q-Have we an adequate circulat-
ing medium? A-MOre than was
proved sufficient to do a far greater
business than We are now doing.
Q-W0uld 1t be Initiation 70 print
money for the expense Of the gov
eminent up TO but not exceeding
two and half times the metallic
base now IN the Treasury-eight
and half billions? Ave have
a vast initiation now. IF YOU mean.
would printing that much money Of
itself ruin US. the answer is no. But
If We 50 much as start using fat
money instead Of taxes for expenses.
the answer is yes. Il would be no
tlce that the government has elected
to rob every woTkingman of his
wages. every family Of its savings.
to raise the cost Of living and bring
inevitable collapse with complete
destruction of values. IF people
we're absolutely sUre one dose would
be the end, that dose might 90 no
great harm. But when govern
ment once does this. it is like
sheep-klling dog-the lambs die Of
fright If not of fangs.
Currency Doesn't Control Debts
Q-Do you believe that with five
and one-half billions of currency
our debts of more than 200 billions
can be paid? Ayes. There are as
many credits as debts. These credits
are usually active. Fear of what
Coughlin proposes has paralvzed
them. Ten men stand in a ring
Each owes the other a dollar. All
are broke but No. /, VINO has a dol
lar. He hands it to No. 2 who hands
1t TO No. B, and so on back TO No
ten dollars of debt paid with one
81 bill. Each of ten men owes his
neighbor $1,000. Each cancels his
neighbours nOte-s1O,OO0 of debt paid
with no money at all. The actual
amount Of currency is not the con-
trolling factor.
Odd the existing system of
money bring about our troubles?
A.-No. The Jolly Of men did that,
although I think that bad manage
ment Of the Federal Reserve Svs-
TEN aggravated it.
Q-Why is a man who proposes
a central pank a radical? Al
never said he w9s but I don't want
1t to be controlled by 48 small-time
politicians and I don't want it to be
hooked up to a printing press. as
Father COughlin proposes.
Of you were among the un-
employed, what would you think of
a government which destroys wheat.
cotton and hogs? A.-The surplus
OF export farm products over any
American need ruined farmers.
What do you think Of that? 1 don't
believe in destroying supplies but I
do believe in profitable price for
agriculture, and you can't get it
without managing the surplus.
Fortunes Are Too Big
Q-What do you think of the big
fortunes? A-Too big They ought
to be cut down to decent size by in
heritanCe and other taxes on a SEN
slble plan, but If we took all the
enormous fortunes and divided
them up tomorrow, YOU or 1
wouldn't be much helped.
Q-Do you think these fortunes
are contrary to the Constitution. eS-
pecially the general welfare clause?
A-No. The Constitution was
framed by gentlemen who were on
the side of wealth, as it was then
understood. 1t is we'll established
that when they wrote general well
fare" they thought they were using
a generality granting no powers.
- elf you believe Father Cough
lin tol be wrong, will you state
wherS his facts are in error? A
He haAP made many assertions. I
can NOT review them IN this short
letter, but if you will specify any,
will. II \you read his sermon on me,
and my Nreply, you Will see how he
uses fact&. If you approve of that
method. II couldn't convince you.
Q-HaveN you a plan to give every
American al living wage, and how