The Detroit tribune. (Detroit, Mich.) 1935-1966, 1936-01-18
LEARN MORE
ABOUT MONEY
By Leo Charles DOnnelIy, VI. d.

saying that II billions of dollars
i'm gold will cover IL billions Of
paper money. He is aso right in
saying that we should not give 9
cents to the bankers for doing no.
thing with every dollar paid to
American soldiers who risked their
lives to protect the bankers Euro
pean investments.
President Roosevelt is right in
saying there is no reason for in
creasing taxes. BY having the U.
S. Government stamp it's law on
paper and transform its paper in
to money, over one third Of our
present taxes will not need to be
collected because then we will be
freed from paying interest to Wall
| Street bankers. (Forget the de-
fusion of coverage of money. Legal
currency is the expressed law Of
the United States Government con-
veyed through its monopoly or
money The absolute necessity of
having money will cause it to cir
culate without the money having
anyother backing except the LAW
OF THE UNITED STATES. If you
talk of coverage or backing of
currency, put the 400 odd billions
of wealth in the United States be-
| hind 100000, 900, 900 OF dollars. 1t
is not needed and should not be
done.)
! Father Coughlin is right in say
ing that the 400 or so families
controlling the Federal Reserve
System have no more right to con-
troll the credit and currency Of the
United States than they have to
control the heart and lungs Of
! 126,000,000 American people. Cur
rency and credit are to business
what heart and lungs are to us.
Our money system must be so
simple that labOuring men will IN
derstand it; else they will contin-
ne to lose their homes to bankers,
their goods to pawnbrokers, and
their automobiles to finance COM
panies- Without our labouring
people prospecting, America is
doomed.
Money cannot at one and the
same time carry goods (wares,
things made for sale) and serve as
a means Of saving for old age or Of
starving others into submission. 1t
defeats its own purpose. The Unit
ed States Government can stimu-
late young people into saving for
their own old age by keeping mon
ey without interest and reissuing
it later on demand No one, not
even the United States Govern
ment dare be permitted to stop the
circulation of money any more
than anyone dare be permitted to
stop the circulation of our blood.
The rapid circulation of money
causes the rapid circulation of
goods. That means almost univer-
sal emploN Aux plus intel
; %:siss are oily '' sources q
To make money circulate fast
enough to bring to the American
people the goods which they need
. and which they already are able to
produce, we must legally depreci-
ate money l percent each month.
Then no one will hoard it.
This is just. Why shDuld not
money depreciate with age? Men
and women grow older. They must
sell their services while they are
young. Milk sours, fruits rot,
automobiles change in style, etc.
Farmers, store-keepers, and manu-
facturers are all at the mercy of
the bankers. Bring the banker dowh
to the level of all of the rest Of
us. Depreciate his money and de-
preciate our money / per cent
each month. Then we will all be
forced TO hire the labor of our
fellow man and to buy the produce
Of our fellowman, or loan out sur
plus money at low interest. To
have prosperity, peace, and happi-
ness, we all must buy exactly as
much as we sell. When one has
too much and another has too lit
tie, illwill is born and security
dies
Write your questions on money,
interest, and usury to Leo Charles