Show OTHERS VIEWS Dear Editor The New Deal has thus far been financed by tax-exempt tax interest in in- in terest bearing terest-bearing bearing obligations of the National Government It is planned planned planned plan plan- ned to finance the New Deal thru 1935 and 1936 by bythe the same methods methods methods meth meth- although bills have been presented presented presented pre pre- in Congress which are designed designed designed de de- signed to eli eliminate this type ot of Government obligation These interest bear tax-exempt tax ing obligations bear an average rate of interest of 3 per perr cent and andon andon andon on Nov 30 1934 this type of Government Government Gov Gov- obligation outstanding totaled The compound compound compound com com- pound interest on this sum for 30 years is and ande e we still owe the principle There are still outstanding bonds which were issued at the time of the Civil War These bonds are the Collateral collateral the Federal Reserve banks deposit with themselves for the issuance of more currency The banks draw interest from the government government government govern govern- ment on the bonds Society pays the interest The banks loan the money and collect interest from the borrower In a debt and credit the bankers and manipulators tors get all and are in a position to see that they continue to get it all Society pays the interest from all sides and the money mon gers collect Statistics show that the Ule New Deal has increased the enormous wealth of the manipulators of money and society's security These same statistics further show that the pittance labor has received was decreased Thomas A A. A Edison once remarked remark remark- ed ed that Any AIly government that I can issue a dollar bond that is good can issue a bill that is ed cd on no such premise for those who have would not collect from society on the bills as they do on the bonds E. E. E F F. F Evans |