The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1943-06-14

withheld from print il desired.
The most vital part OF post war
planning should be a uniform me-
dunn OF exchange. which should
have a basic value common to all
countries. While our own country is
preaching the friendly neighbor"
theory, it still is a fact that our
friendly neighbor and active war
allies on the north and the south
OF US known that their money does
not pass at par in this country.
We are nov facing World War
After the war all nations will be
facing staggering indebtedness.
many nations have been ravished
and their people beggared. What
will these people use for postwar
moneys?
This proy'em is just as vital as
winning the war. Our country
should start at once to build for a
new International currency and
let the world know at once that
this new worlds money has a basic
value common 10 all countries and
shall pass Il par in all countries.
This brief article is written as
Introductory to two articles. The
writer OF these articles was a mem.
her OF the Michigan State Senate
during the first World War. and
has had eight years experience as
an employee OF the United States
Treasury.
l. Any new plan for an liter
national Money must be based on
international justice.
,. II must he so constructed that
It will pass at par in all countries.
3. II must De based on a basic
value common to all countries.
4. While all countries should
have the right to their own design
or wording on each side, the differ
ent denominations on all paper
money should be the same.
3. The amo"nt OF all money put
into circulation. should depend:
t1sO on that countrys basic worth;
cad on its volume OF world trade:
t3rd) on its future potential posi-
bilities.
g.. This new international money
should be set up and governed
by permanent International Fin.
ancial Congress, the numUer OF
members in this congress to be gov.
erned by (lsD the country's basic
worth, j2nd) its volume OF world
trade, (Srd) its future potential
possibilities.
!. This financial congress shall
have the power to demand Of each
country 4 certain per cent OF that
Country's total monies in circula-
ton as guarantee of all obliga.
tons The amount of this money
shall depend GsD on the total
amount in circulation in each coun-
try; (2nd) on the total amount OF
world trade each year.
s. This congress shall have full
authority for raising the amount of
any country's circulation when, in
their opinion, the best interests OF
that particular country Is benefited
or when It might benefit this Fed
Grafton OF Countries.
9, This congress shall have pow.
er 10 designate different banks in
all countries as clearing houses.
TO- The congress shall have full
authority TO establish their head
quarters IN all countries to carry
on their business and TO study the
need OF that particular country.
The expenses Of this congress shall
be paid by the different countries
in proportion to the amount Of the
money Of each country.
H. This congress shall have full
authority to: ~ set the basic
worth of all countries. (2) Set the
amount OF world trade the past ten
years; go Advise each year the
federation OF nations any change
in future possibilities OF any ma
ton.
IL. This congress shall have
full authority 10 declare that the
basic worth OF all nations is the
only permanent value on which
they could base a uniform interna.
tional paper money which would
pass az par in all countries
IS. This congress shall have au-
thority TO grant each country to
print their full quota OF non interest
bearing bonds; these bonds TO be
mortgage on every piece Of tax.
able property OF that particular
country and shall become part OF
the worlds new international
money.
II. The congress shall have au-
thority TO declare that the paper
bond currency shall not be quoted
on any stock exchange.
Is. This congress shall have full
authority 10 design new coined
money with as many different val
ues or denominations as they shall
think necessary. but the metals
used in these coined monies shall
be the same in all countries. allow
ing each country the right to put
their own national design on the
differentcoins This coined money
shall pass at face value in all coun.
tries.
r. GILLETTE DAVIS