Paper Money Is
The Money Of
Civilized People

Thomas Edison, America’s great inventor, summed up
this information in 1921. He said:

"Now, as to paper money, so called, every one knows that paper money is the money of civilized people. The higher you go in civilization the less actual money you see. It is all bills and checks. What are bills and checks? Mere promises and orders. What are they based on? Principally on two sources - human energy and the productive earth. Humanity and the soil - these are the only real bases of money.

"Don’t allow [the bankers] to confuse you with the cry of ‘paper money’. The danger of paper money is precisely the danger of gold - if you get too much it is no good. They say we have all the gold in the world now. Well, what good does it do us? When America gets all the chips in a game the game stops. We would be better off if we had less gold. Indeed, we are trying to get rid of our gold to start something going. But the trade machine is at present jammed. Too much paper money operates the same way. There is just one rule for money, and that is, to have enough to carry all the legitimate trade that is waiting to move. Too little or too much are both bad. But enough to move trade, enough to prevent stagnation on the one hand and not enough to permit speculation on the other hand, is the proper ratio."

Concerning interest, he said, "... That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principle. ... Under our present system of doing business we simply add 120 to 150 percent to the stated cost."

Speaking for debt free money, Edison is quoted, "But here is the point: If our nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good, also. The difference between the bond and the bill is that the bond lets the money brokers collect twice the amount of the bond and an additional 20 percent, whereas the currency pays nobody but those who directly contribute to the [projects] in some useful way.

"... There is a difference [between currency and bonds], but it is neither the likeness nor the difference that will determine the matter; the attack will be directed against thinking of bonds and currency together and comparing them. If people ever get to thinking of bonds and bills at the same time, the game is up [for the bankers]."

Thomas Edison, just quoted, was much more than just an inventor. As an inventor, he was, of course, a thinker. But he also had a shop of his own where he employed people to build his inventions. He also was a close friend of Henry Ford, Sr., inventor of the Ford automobile and the assembly line. So, Edison must have been well aware of the various aspects of the American economy. He also was in agreement with Ford on the creation of money, debt free, by the government. This fact was alluded to in the above quote regarding interest.

In summary, it makes sound sense to base the amount of money in the economy on the grand total of the value of the materials coming from our American soil plus the labor value of our American citizens. People will spend their earned labor money on products. The added value of American soil in the product will place that much more money in the economy to enable further use of American soil.

Wisdom And Freedom produced by WORLD NEWSSTAND
Copyright © 1999. ALL RIGHTS RESERVED.
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