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Debts of Today and Hell to Pay

Debts of Today and Hell to Pay


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918. Excerpt: ... is used to redeem, or contract and lessen the volume of money. Fix it clear in your mind that the manner of contraction is due to the fact that when in some parts of the country too much money is in circulation (measured by the fact that labor is demanding more than $5.00 per day) and one million dollars is tendered for redemption the government gathers, or has gathered, by taxation another million to pay the wages of the Organization of Redemption to redeem the million tendered by a return of labor. Thus, one million is used to hire laborers working to redeem another million. The one million redeemed is destroyed. The other million used to pay the soldiers laboring in redemption is spent and goes on circulating. The hydraulic ram whereby water pumps itself on high hills, way above the stream may assist in visualizing the idea of a part of this money being collected by a tax to be paid soldiers for service to redeem about an equal portion. This may look like merely swapping dollars, but the transaction of spending one million from the treasury department redeeming the other million works a cancellation of the million tendered for redemption, and the process makes the standard stable and prevents any fatal variance. The object and real value is to make our money reliable, so that it will always buy a certain amount of human energy. If too much money comes into circulation it in this way contracts, or lessens the volume and keeps the millions and millions in general circulation moving from one individual to another at the same steady value, stimulating work every time a dollar changes hands. We could not rely upon a mere taxation and tearing up system to contract at so much per year. There would be no science about that when the conditions of those years mi...



Product Details
  • ISBN-13: 9781154589092
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 20
  • Spine Width: 1 mm
  • Width: 189 mm
  • ISBN-10: 1154589099
  • Publisher Date: 04 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 54 gr


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