(1) Money that is “redeemable” in other money is not my idea of money.
A dollar is not redeemed by swapping another dollar for it. The only
redemption of the dollar which amounts to anything beneficial is when a
debt, public or private, is redeemed by paying it off in legal tender. I
redeem my promissory note by paying the amount of money it calls for: I
redeem all my other dues and debts in the same way. Nothing is redeemed
when a gold dollar is given for a silver dollar, or a metallic dollar
exchanged for a paper dollar. That method of fooling the people will go
out of fashion as the people become educated. All money is absolute fiat
money. That is, the law makes the money. God made no money. Nature made
no money. Evolution made no money. The law takes raw material and makes
money out of it, just as the lumberman takes a log and makes plank or
shingles out of it.
The Government fiat makes gold money, makes silver money, makes nickel
money, makes copper money. It would with equal ease and certainty make
iron or paper _money_.
Whenever _the law_ says that a paper dollar shall go just as far, as _a
legal tender_, as the gold dollar goes, the paper will suit me and you
just as well as the gold.
(2) Yes.
(3) No. See page 275, January issue of this Magazine.
(4) I do not clamor for gold and silver only. We demand the money of the
Constitution which has been taken away from us by venal Congressmen who
were bribed by Wall Street and the European financiers.
How could you get some of the fiat money?
This is but another form of the old question of getting the paper money
into circulation.
There are several ways.
(1) The Government could pay off the National debt.
(2) The Government could build new railroads, or buy those already built.
(3) The Government could pay current expenses with it.
(4) Could build the Panama Canal with it.
(5) Could establish a Department which would lend it to the people,
direct, at a low interest, as is done in Europe.
In Norway and Sweden the Government lends money to the farmers on
their land, on long time, at low interest. These banks have been most
beneficial and successful.
In France and in Russia the Government makes loans upon produce.
In Germany the Government bank lends money on land security, directly to
the land-owner.
In Greece, the farmers can get money from the Government banks.
In Great Britain, the Government lends money to the citizen to buy land.
The only reason in the world why our people cannot secure similar
advantages, is that we are cruelly oppressed by corporation tyranny and
greed.
_In Passing_