Morgan County Independent | 1924-07-14 | Page 2 | Credit and Currency

CREDIT AND CURRENCY we wa denounce the recent cruel and knust contraction of legitimate and necessary credit arid and currency which wits was directly due to the so called donation deflation policy of the republican party as declared in its national platform of june 1920 and in the speech of acceptance of its candidacy for or tho the presidency within eighteen months after the election let ot of 1920 this policy resulted in withdrawing bank loans and discounts by over five billions of collars and in contracting contract Inc our currency by over fifteen hundred millions of dollars this contraction bankrupted hundreds of thousands thou sandi of farmers and stock growers in AllI america erica ana ani resulted in widespread industrial depression depre aalon and unemployment we demand that the federal reserve system be so administered as aks to give alya stability to Indu industry commerce and finance as was wag intended by the th democratic party which gave the federal reserve system to the nation