The Courier News from Blytheville, Arkansas on August 14, 1936 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

Blytheville, Arkansas
Issue Date:
Friday, August 14, 1936
Page 3
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FRIDAY, AUGUST M, 1530 : nmecl Radio Priest Would Change Prcsenl Financial Order A once-obscure iirlest Ilamcs I'ftfor-llko across the r.ulio heav- 'ns, Inivlng In liis wake an Iri- liwciit shmvrr of new financial '•lam, iKililiful opinions and so•hl beliefs . . . Loyally foliow- 'I liy hiiiidiriU of llioiisamls, bil- «•'}• ujiiMiscil liy a U'glim of fofs, l-':Ulier ColiKlilin and lite plans for Hie economic, betterment <it lie h.luily by a recognised authority. Today Juiin 'I', rlynn, fame:! luUlor-fTOiioimsl, begins: a tliri'e- larl series of articles giving re:i(l- t'rs of (,'ourk'r News a fair ai/il crefaiidalile view uf "Th? I'oiiglilin I'lan" and its workings. By JOHN T. Fr.YNN 1 It is fort yyears since th? cross gold was lifted into tiie Tieavens HI the multitudes were summoned > do battle against llic Clod of reed hy William j. Uryan. Now Father Coughlin, hoi with ra lory for social justice, flings Iliis eadful word, money, into the po- ical arena. Father CoujjWii! i.s a passionate rusacler. He .arouses the emotions -Ihe eager devotion of many, the pnosltlon of many others. ' Now has a plan for making our sys- mof private property an:l capi- itism wort;. We are not interest- 1 In his enemies or his friends. I'e arc concerned with 'ills prln- iples. What are thev and will they ork? Father tjoi;»hlin, ot course, at- icks many eviis and proposes ra- om objectives. But as you siiidy is plans you find that always he onies back to one fundamental icory. it is that our inoner and ing system is at thc bottom of H our troubles. And Father oughlin has a definite remedy—a icory. a plan and a strategy. As already stated, his theory is lat our (roubles are money Ironies. Bryan said we languished b?'- «e we did not 'have enough inet- inoney. Father Coughlin says e urn in (rouble because the na- on's money is in the hands of the ante're. ire sars that, the money •e use is created by the banker In- :ead of being ..issued by .tjic gov- rnmcnl and that this fnnciion has ikcn on the nature of n riiefe-t. would end it. take over th? anks and use them to end what c calls our "mcniv timinc." Second, as to his "plan. It is to kc (Me banking fni'-lion oi:t ol hands of thc bankers and •le a greal central bank own<I and operated by the govrn lent. This bank' will e.xcrcisi eat powers over our money sup ics. our price level and our pur lasin? pnwer. I'Cks lo Gain way in Congress Third, as to his strategy FaMi- Coutfilin has'teamed ivith t'ip hnrc-llie-WcaHhors anrt th" •ownscndites. And he has oraui- a new polilical parly called he Union party with Congressman /empire of Smith Dakota as its 'residential candidate. Bill Pat',1- Conghlin doesn't really think he Coughlm Urges Central Bank OLYTHEVILLE, (ARK.) COURIER NEWS ~ can elect a President, lercslccl in Congress. Father Coiighllu knows what so many seem lo Ignore, that Congress is saturated with the very monetary Theories he supports. Take Ihe Presidential curb olf Con- jress and the House would pass bills embodying his theories without hesitation. Father CougliUn's aim is to elect lough congressmen pliulged to fais theories to be able to defy the next President, whoever that may be. He hopes therefore to elect some Union parly congressman, to throw his support to Democrats 'here and Republicans there ii} order to defeat congressmen opposed to Ills money planks and finally, while pushing a presidential campaign, to advertise his money theories and thus infect voting masses of the West and South in all parties. Money Theories Easy lo Untlcrslaiid ' Now then, what about his money theories? It.''is impassible to understand first certain reforms in money and banking advocated by men and schools. Money and banking suem lo manv a very dry and drab subject. Also it may seem very coaiplex and difficult, hut the very cimoie. fundamental points on which Fattier Cou»hll;i relies can •iest is in- changed in value, the wheal or the dollar? Very often it Is both, But the dollar s'hould not. change. "Hound Dollar" Is Unsound for Buyers This is the basis of prof. Fisher's theory. And many distinguished economists agree with him. Prof. Fisher says thc price of gold icrcise 1)e understood by anyone. Furthermore, they arc so important thai no voter can afford not to understand them, because, whatever happens to Father CougWin and congressman Leinpltc. these issues are going to be debated for many years to come. 'Hie first thing to be understood is Professor irvin? Fisher's fa- moii"! plan for a managed currency based on what lie calls (he commodity dollar Hollar—Gulil or Value Measure? ( _ In this country i' nc phrase sound money'' means by cciimon usage money convertible into-gaW More generally, it m; . ans the gold standard. But new money theorists insist that the gotf dollar is not, only unsound, but jt the un- soimdcst of dollars. The leading exponent of this idea is Prof Fish- cr of Yale. And Fat'ncY: Coughlin taken this doctrine for ona of the Elones in his structure. A yard is a measure of leiuth. The pound is a measure of wcf«ht •iflii may have a yard of silk or a pound of beef. But. yol , can ako ,« -i a yar<1 ° r " poltnti « : ' l ' n out thinking of any particular .substance. In the same way the dollar is a measure of value. You may have a dollar's worth of beef or silk. But you can also think of a dollar without thinkiiia of silk or beef or any commodi'ty . \Vnen we say a thing is worth a noHar we mean it lias the same •'••"ue as H grains of gold—the gold content of the dollar. But surmose . 1 " d '' lr rcftlly was ,$3.19. a » were a dollar In 1 1890 then It was C5 cents In' 1913.! If it were a dollar In 1913, Chen It was 45 cents In isao. if it wore a i (.lollar In 1920, It was $2.82 In March. 19:11 A prettv unsound dollar. , . ' Prof. Fisher, therefor?, urges thai gold shouM be discarded as a unit of value. We might keep u,,, gn | i standard, if vvc wlsluHl, but the amount ol K «:<| in Wc lto |] lu wtiM change a s (he value of goltl went "p and down. ! •Tills I'rof. Fisher would nccom-1 push by means of v.'hal he calls Ihe conimoLllty dollar T)i» null of value would Iw, not gold,'a single connicdlf-. but many cgmmoil- ItlSS—al'Ollt 700 Of t'K'lll I'linu'lu- a basket tilled with small p.irllcl"- ci 7Q 1 -ixiirpni ci'immitilli's Those coiiKnoditles W0 nld b« subject to I c :'""' e ','," vall: °- Dut soin; woul'l' rife, will''! SOIH. would decline In va.uc. InrrcaH's and Decreases in vnli'c would more or less cancel each other, The average would remain riuch more n^rlv <-)nsl-vnt than value of a single co'ii- modity like ivheat O r sllvsr or gold Prof, Pisher woii'j cl . ant e ,M a«- hority to collect data inmthly on Che prices of Ihe commodlllcs selected. This authority would watrti prices of all lluss commoilllics an 1 averaw llifiin up. The proper a\i- cmrity would publish these figures each motii'a and the gold content of Hi; dolhr would be Incr'nv ed or ilecrcnsed to a«rce with "the fliidlngs of ii, e government author- If this were all there were lo Rust Wives Await Test Fnlhcr Coiis'nlin's mousy nli'iis many eminent economists would n«rc c with him. But he has added other Items to the plan. The next one has to do wlfh the weaknesses In our banking system,^ which we will examine in loinorro'w's article LIT IN fiUSSIl U, S. (Continued From Page 1) - „-j- — j...-^ v , bv ,,« ton from tlie stalks is concerned ihangcs contiimally. He puts it the Ilust brothers view the com' M >i: ii-a v - Tf 1 I,,. ,1^11 ii.. i , _ , . *• ^y«'i '" B ^ sls mcl ' ely as "endurance to determine how ,l le m,,- PAGE THRRBI b taking a «,„„ of it, Tl,e "bpuquef ol wine depends foolpafns and csllnmlcs that there on the variety ot grape used the nn, nearly 500,000 In En 8 land and locality of growth, cllmaiio condN ' "on* mul the mode of making. 93 PROOF -lH'> The public lias voiced ilg ap- (truvnl nf National Distiller*' new iige-jxillcy on Town Tavern in llic must roiivino ing Way eui'h approval can lie c\prc§9uil—with frcmeri- rlout buying! Thunkn for your iipprnvnll We sliull try lo keep nil dealers Bupplied V'illi new slii|)inenl9 so you will not !;c<li(iu|i[i(ii(]tc(l! Htisl. Ml. and M,.s. John liusl are Just as exdU'd Ihch husbands that Ihe Kusl cotton picker is nearlni, iho dl of it, dc^opnu,,,. They have served as ollicc J,r fo ,. | "irouRli the years il took to build n successful nnicli chines static! up in constant, practical operation. • Production plans await the outcome ol the tesU iiiul tile reaction of Dlanlers. Should the machines fulfill the hope of the In- railoi-;;. 11 Rust foundation will lia formed to control thu oin'ratlne company. would be (leveled to educational mid social projects lo! icliabllllalc lalior adversely af-i fected by llic machines. JUUGIiJIKXT WITIIIlKI.n on (he vast Held the Invcnllon may open until the cotlon rlpem early in September and the machines have had their Quince. Uul they do sny inul if Vhe Rust cotton picker proves ilwlf, n nlcJui for It will have to ho cnl In America's industrial hall of fame alongside llic Whitney lotion Kh: Critics are withholding commenl . There are three major types or j wine known lo the trade and the- I consumer: spaiklinu, still, and 'fortified. ••••"•< I Make yonr favorite l»ng Tall Recipes do l>oul»l<» Duty I SIMPLI MOTIONS OFFI» CUtSTS A CHOICI OF EITHER MY DKV GIN 0« MY StOt 5IN IN THEIR IONO TAIL D*IHKt m .010 •i' «'i OLDER SMOOTHER BETTER UIST1LLERS I'ROhUCTS fORPOKXtlON ,-l-~.,.M.r,lw,J 1)1,1,1 V.rV, N. V. All Around tli<>. House WATER is ihe "Family Servant?'. , , , --..„.„ 01 lnc ( , ollar . Bl|t Jose Miguel Gomez, son of a the value of cold oh-inws iwcnllb l ""• ••-••- ' - cl}!l "= cs , iwcnllby planter, look up its cause. For 20 years, he participated in Cuban politics. Then, in 1805, came Ihe final war for freedom, and young Gomez rose quickly lo 'he rank of major general.. So active was he that in one day he engaged in 17 minor battles. •™K hcn hc bc " me "resident in JD08, he reorganized the army improved -Ihe. ports, built new roads and bridncs, extended the railroads, and modernized the school system. Gomez retired from politics for a few years, but when he r c - Uirncd in 1520 lo regain (he presj. dcncy, he was defeated. He retired again to the United St.iles where he died in 192!, aged 05. To~~ day, Ws son, Miguel Mariano Gomez, is president of Cuba. In th e j elder Go< mcz' honor, 1 Cnb.i issued j n set of two 3 stamps rc- n j ccntly. |, :A Korv , tf , nc , the value of "the d'oTiaV c'nangcs. ""d it is not a goori measure of valus. If ihe same piece of silk Is called a yard today, a yard and a half next y c a r , v e would think the yard a pretty deceptive unit, of length, if a bl ,s hcl of wh( , al jj wort'n a dollar Today and a dollar and a half next year, \ v hat has A Complete Line of Old Mr. Boston GINS WHISKYS LIQUEURS The Little Shop Hotel Noble W«re'« * .mart M«, that'* 9O in H ifcc r« Hn rf. ot ,», i ong , tall dri«J.<T» ail <•*,#„„,, , 0 „„!,, „,, rnltrfly dll , trrent drink „«< „/ <fce , amc fa ,. or , tf rreipf j jlsl <lllrc (,, « while for ll.c vuricly Ihnl givrs nn i-xlrn ^s( t« Ihirst n n,.,icliii, g> "my niluliiutc f.,r ll.cir fnvonlc 1ms.', Old Mr. Il o .,i,,,, I) is(i || w l |) ry Om, the cnlircly .lifTcrciU flnvnr of Old 5fr. Il,,sl 0 ,, Sl,,c Gin. The same smootbilCM nn.i plcnsnnl r.cil wicli « fresh, ,, 9 w taslc. It's n W'nelikc l«,ig . . . ,, ot tnrt, ,,,,t sweet . . . „„,] B nlllrvcI()lI9 nilli . dole for hot wcntlicr thirsts. Try nut ll,! s g r«,,,l ,, CH . i,1 cn tonight, lo,, l,«vc the lemons, s ,, Bar , icn niul B i,, g cr nt o or spnr l,liii g wnlcr. Unly one thing to remember . . . »il ymir wny homo, hiiy a Imtllo m OM Mr. Koston Sloe Gin mul show jour tl,i rs t a<mlc „„„. tricks. «cii Durk, !,„.., U o3lon) jy| nss . rill with Jlnj.r an cr othtr chief «d water EASY TO MIX . . . COOLING AND REFRfSHtNO Crosstown Whiskey Shop Main and Division Carries A Complete Stock of llic Above Products * HE modern miter sysloni {ibices nf the beck and call of every member nf flic family n tireless servant, nn duly 21 lionrs a day. This ser- vnnt is WATKK. K has many hands and c;in perform many chores simultaneously if necessary. All homes, however, arc not equipped fo take full advantage of (his servant, because of inadequate and out- of-date plumbing. The installation of u new outlel here and (here, a new fixture or (wo, will enable this K»«d servant to work even more efficiently. Blytheville Water Company Courteous, Personal Attention to Every Customer Pllon « 80 US S. Broadway

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