The Washington times., 1936-01-25

ter project at $94 a month.
International News Photo.
late the value thereof and of
foreign COIN"
Coin" has a specific mean.
ing and implies metal. What
metal? Another clause of the
Constitution states what metal
providing mo State shall make
anything in payment of debts
except gold and silver"
That is the Constitution and
that meaning was not to coin
one, and speculate in the other
by purchase.
Packed With Politicians
Moreover, the Constitution was
made in view of the then existing
banking system, which were the
Scotch Banks that could issue
bank currency, redeemable on
demand in coin. and backed by
something of value: and not as
now based upon public or private
debts. But alas, when the SUI
preme Court of the United States
(the only time, was packed with
politicians. between 1865 and TO
the decisions on this question for
rs years were overturned and
that, has given us tlnanclal
trouble ever since.
AS stated before, a reasonable
initiation of money, which merely
means the lowering of the value
so that it would be OF the same
value when debtor went to pay,
as when the debt was made, is
wholesome and just. But to go
beyond that means wreck and
ruin to business, to private enter
prise, particularly to the laboring
man and those holding salarled
positions and to those who have
invested their life savings to give
them something in their old age.
Wreck and Ruin.
To all these, it means wreck and
ruin and a cost of wing beyond
their capacity to pay. And later,
as in the case of Germany. which
tried the experiment after the
World War, found that they must
needs return to sounder prin-
ciple of finance. in doing so
brought trouble upon themselves;
and that would be our experience,
did We attempt to embark upon
the principle for any purpose, OF
printing money to meet the Situa-
ton.
We may coin money because
the coin is limited by nature, but
we cannot print money because
there is no limit to the amount
of paper or of the capacity of the
printing press; and it would wreck
all hope of prosperity as we'll as
that little that now exists.
Grow CheaI
The money would grow so cheap
that it would start speculation,
because men would buy anything,
even a dog, to get rid of it.
So, in government, the only
safe way to do anything or to
work any reform requiring
money, is to obtain that money
by taxation; and to have such
taxes for the purpose the govern
ment must needs be operated on
the lowest possible expense, con-
sistent with justice and efficiency
And here I wish to state that
no one denies or ought to deny
that the aged and the needy
should be cared for; and it's the
duty of the government to aid the
people to aid themselves and not
become the manager of the peo-
pies business or mamma and papa
to them.
Permit me to say in black let
tiers:
The greatest danger to the pros
perity of any country is to
monkey" with the SOlvency or
stability of its money and cur
rency. To increase the value of
money when pay day of a debtor
arrives, above it's value when the
debt was made, is unjust and
means cOnfiscatiOn; and it is
equally unjust and cOnfiscatOry
when the value of that money is
made cheaper on pay day, than
when the debt was created.
ITO Be Continued