Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1938-12-01
EXPLAINS MONEY

EXPLAINS MONEY
Editor Askov American:
1t would seem to be a queer ques-
ton if one would ask what is money,
as everybody thinks that they know
it, but the right answer to it would
be that it is medium of exchange
to avoid the troublesome changing
goods for goods. Money is to prove
that the possessor of certain amount
of it is entitled to as much goods as
that according to the price of the
goods will pay for.
Then comes the question: els it
necessary that money is made from
such material having as much mar
ket value as the goods it is to pay
for?"
The answer to that must be that
it is not. We never see such money
Somebody will insist upon currency
being redeemable in such money hav-
ing the market value of material
Whoever thinking SO can find it out
by sending a bundle of currency to
the United States government and
asking to have that redeemed in
gold coin, and you will not get as
much as dollar, and even if you
would get gold coin there has been
taken about 40 cents worth of gold
out of each dollar, so it is that much
short of its value; but if it was
circulated it would go for the same.
The silver dollar did not have a
than the last go years. That is after
the time silver was demonetized, in
stead of having free and unlimited
coinage, the same as gold. The way
the money system was organized at
the time the government was or
gained was 16 parts pure silver equal
to one part pure gold, and free and
unlimited coinage of both.
Now when it is crime to have
gold or silver dollars in possession,
that is proof that currency is not
redeemable although it is printed on
it, but it serves its purpose as a
medium of exchange because it is
printed on it that it is legal tender
in payment for all debts, and the
government recognizes it as such.
When such crippled currency, which
is only repudiated bills of indebt-
edness, serves its purpose as money,
why would it not do the same if
issued as real money? Money is
only a proof that the holder of it
is entitled to so much goods. One
gets it for one kind of goods of which
he has more than he has use for,
and use it the same day to pay for
what he needs, and it keeps on going
from one to another without any of
them thinking that it is only slip
of paper, but as long as it is redeem
able with any kind of goods one
needs, even to buy his note back
which he had given in exchange for
money borrowed, there is no reason
to refuse it. But if the government
has issued currency as bills of indebt-
edness to be paid in coin and then
not able to do it, it is with such
bill as with a note given by a per-
son not able to pay it; nobody will
take such a note for full value, in
most cases it will be refused.
Money is made to be 4 medium
of exchange, but it has come to, that
a small minority of the people are
gathering it up and keeping it out
of circulation. The producing of
goods is to great extent done by
machines, so only small amount
of money is paid out for labor in
proportion to what it is sold for.
That is one of the ways money is
gathered up, and which makes many
millions of idle workers so they are
without buying power. 1t is the
right of idle workers to live, and it
is the duty of the public TO see that
is effected, so governments are in
stituted to act for the people as their
servants, but people have elected
bad servants, mostly the capitalistic
Republican party for about 70 years
and finally the climax came where
5 percent of the people were found
to be the owners of 80 percent of
the wealth in the United States.
That is smart population that the
capitalists are proud Of All this
wealth shall draw income for the
holders of it, so they are bound to
become richer all the time, and the
IS percent of the people poorer in
proportion.
Roosevelt said this last summer
that one third of the people here in
the United States are underfed. That
is, they are getting too little of every
thing, so lifetime is thereby short
ened, or we can say they are slowly
but lawfully killed. If there could
not be enough produced, that would
be good excuse, but when people
are taxed to get money to pay to
get less produced, and let one-third
be in need, that is too much to ask
people with common sense to believe
in. There should by that be made
shortage of farm products so people
by that should be forced to pay more,