Riegel#2 N M Paper

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Riegel#2 N M Paper - Sunday, Mfty IS, 1S§1> Page 17 Belt*,. Jobs i i...
Sunday, Mfty IS, 1S§1> Page 17 Belt*,. Jobs i i Privafe Money Mean Better I have b#eh 're«dlhf «. book called '.'Private' Enterprise Money" by fc. C. Riegel. Ih part of the book the author seems to tifttersfand a large part of our trouble. In the 'list-part bt the book, however, he makes very Irrational statements. Me seems to contradict himself, because because he wants some vague medium medium of exchange without any value back of it used in place of. money. He seems vefy Indefinite about how it would be controlled, yet he sees the groat.harm that results from'the government getting Into, (he money business. Listen to this as an example of foresight and sound reasoning on the economic iroblem; "BeSa'use man has not mastered the problem of achieving"prosperity, achieving"prosperity, he has {urn.ed to government for its solution. Thus he has complicated complicated his problem, for government government offers no solution to the probletH of prosperity, while its intervention in this primary problem problem brings the additional problem ot how to govern government. When government undertakes to s&lye man's problem for him It undertakes the mastery of society and it cannot be both master and servant. Thus it has failed in both spheres. By Inter-tWinlng the prosperity prosperity problem with the political problem man has snarled the threads and no solution of either is possible without separation.*** "Public officials are just a* ignorant ignorant of the real cause df economic economic and political . miscarriages as we. However earnestly they may strive to exert the money power In the public interest, they arr doomed to failure because the laws, of money make it impossible." The author seems to use thr word money as interchangeable with credit. That is evidenced by tho-following statement: "The first cardinal truth of money is that no one, whether Individual Individual or government, can issue money without buying something. 3y inviting government to beconu a money issuer,, we invite It to become our customer. Then we quarrel with it;if it tries to buy something that We deem within the province of private enterprise." Any man, of course, who tries to buy things without having some- thlng of feftl vahle to "exchange for H has to issue credit - *•»»<* the author, Mr. E. C. Riegel, seems to regard as money. "Empowered, as governments _____ ace to the peace and prosperity of i mankind. Mad men, selfish men. i —...(-—.,>,*»,«., MU (ijU » CiiHHCIIlt" ' are 'today, to control the monev I system, they are a constant men- ambitious men, fanatics and crackpots crackpots may at any time seize the reins of government and drive the state like a juggernaut over the people. When government is in- vested with money power it risps above the citizen profession of protecting the ('*• wj.k,fc»ia*wi* \Ji. JJAULCV.UIll' Jlini actually constitute the creak- threat to hjs well-being and safety r-u- «>—,.~_ -i.t.i_i.. _. . . ... J ' The power Which control of the money system gives to government to Interfere in and direct and even take the life of the individual should not exist on this earth. No man or group of men fellow men. "Democratic government to date has been accomplished by voting or plans of t>e virtuous. Money ppwer means budget power and It is folly to imagine that the citizen can control government unless he can control its budget.*»» "He (the individual) must have both voting and vetoing power. slve money power rena In,f tS £™ money power remains to serve the evil designs of the dishonest politician and to frustrate UIP propose* k, Therefore government must be so i,ln<-pH thnt i^ r. nT> *.,„„ — „..-... one. must ask for every penny^t r.rnni,cov i,, L.,,/.,,I^ 'PUl. ,„.,.. , . ., ,-. . .. - one of the Uunes the government a ih,,,,iri h. nrp,, U n,.H f -, This monetary I he- state is the only form of democracy tna t is effective. Until we have at,o Ir »l np d It, we merely beguile our- selves wilh our elective processes." Tne author of couix}, uses the Wfml democracy ral.hor loojely. He l )rohabl y means a limited govern- ment ' since tle does not want tnt ' « nvernment to have the power to money, which Is undoubtedly ihould be prevented from doing. Those who have made any study of money will remember that the state banks used to issue currency. Thus it was not entirely in the hands of the federal government. Then the federal government stepped in and grabbed control of Ihe banks In 1865 by pulling a 10% lax on .slate banks issuing rurrency. The result was that the Hate banks stopped Issuing currency currency and H became then a federal monopoly. And we are now reaping the result of this grabbing of banks that should not belong to any government, government, any more than any gov- crnmont should ha\u tho powor to '"' av(> a monopoly on newspapers or religion or anything else. I (jilote further: "The 'buyurrary' at Washington Is literally buying Us way into control control of our very Uses. Yet I here is nothing back of (he money ii so freely issues except what I he people people put back of it with their labors. The government, popularly be- litved lo be the backer of muTiey. is in fact the only one that does not i.ack money. Except fo r postal service, service, there is practically nothing Purchasable from the Government tvith the money it issues. Even gold f.nd silser cannot be bought frmn Ihe (lovernmenl, and therefore these commodities are not back of its...ni«ney. Privale enterprise supplies supplies practically all the backing that exists for our money. Since private enterprise is the sole backer of money, simple logic dictates dictates that it should b*- the sole "When government lanue-, n»,.ney and offers nothing in therefore, the issue is the counterfeit money, svjth this difference: difference: conuterfeit money can be fJeti-cii-d and extutcted from the money supply, while unba<Ked legal tender merely blends with all other mimes, making each unit ss.-uker " That i., e.\aclly svhat has U-.-n taking place for the Jasi S6 sea.-s. It has b«.-n a<-(.-t-leratlng sery tai/- iiily during the la.-,i three decadt*. do •^if-akng door knub- in Italian Jei mans Maybe |M.|I<-,, le«rne,l Sr-«« 11 fii,ni a bi.n'-h ,jf kiinckei-.

Clipped from
  1. Clovis News-Journal,
  2. 13 May 1951, Sun,
  3. Page 33

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  • Riegel#2 N M Paper

    S6253 – 29 Dec 2013

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