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Show 1 K Gold to Work vnT 11 1 wished, write !" ' eta'ry situation in this V terms of an econo-, econo-, ' m not- But I do i ' if the fundamentals 1 to iink I have enough I ?, " to understand them I wn and are, fearful ' "Sled inflation, or a 5 we have a , e of inflation now. 'T - produce depression, V : press money as the - ,gcPause of both. Our S money, all the cur- ve aside from a Urn-Jo, Urn-Jo, silver certificates, r n ible value. The foun-i, foun-i, " 5, on which it is is-, is-, -lability, not an asset. It .eed by nothing less than .J indebtedness. We can-; can-; into the national treas-L treas-L ive for it anything ex-.y ex-.y of the same kind, , tangible value, either. I, , printing presses con-; con-; I turn out an ever-ln-l rolume of such money '' inevitably lead what I iy md other European k s experienced follow- - dose of World War I ?t we get will be 00 1 by the same causes :b worthless money. "1 r,cy of Germany, at that I nothing back of it re-' re-' ' a stable, tangible value, !' ihich their paper marks ".i exchanged. Because of t non their money became C, for anything except for 1 ebts. Those who were accept those printing f j in payment of a debt 1 nothing with it, for it - achasing power, it had i it value. In Germany eless currency produced 0 td inflation. The after- 1 hat inflation was depres-the depres-the rise of Hitler. 1, e government needs mon-edit, mon-edit, it can, and does, "I banks to buy government ;!h these bonds a gov-.debtedness gov-.debtedness as security can, and do, issue bank ' :b bank notes represent largest part of our na- l rency. It is the same as resi money. Jt simple expedient of jonds as they are of-'k of-'k ' paying par for them, ling for them with d more printing press the government has i icd the price of its At In Germany, the t, press currency will pay it it will not buy a dol-1 dol-1 rth of commodities for ! V ol printing press cur-. cur-. It is a simple method Warily maintaining a Ice for government put it cannot be con-definitely, con-definitely, as it could Germany and other In countries. I congress enacted the I that started us on the Pith printing press mon-toad mon-toad took us off the gold it repudiated our prom-off prom-off our indebtedness in len it repudiated our 1 redeem our outstanding ln gold on demand; it doors for inflation. le legislation changed I' gold from $23 an ounce f to maintain that price I to buy all the gold of-ftiat of-ftiat price. As a result, wo-thirds of all the mon-I mon-I f the world stored in j" vaults, but not working. f the doors on Infla- should put that gold Hie job; we should get ! Bold basis for our f' M at the old price J ounce, but at a price F from $35 to $40 an Hwt would stabilize f hout what they now J would maintain our e at about their pres-e; pres-e; e could pay off erment Indebtedness palely the same' the debt was con- i ant of all, our re- I o!d standard would eless w of printing .i'J.and t would stop jading spree in whjch indulged- Tbat wa most and what we I 18 civil service em-e em-e government, the head f epartment in one of I 5v He wanted 8 ay he could get had L'S sma11 dePart-C dePart-C nhing for them to tto Jr, raise ne wa"ted k t0 the payroll. hS? service u StJd "ed law that f m change ii it would. 'j , |