But first let us consider another unique characteristic of the thing - money, the love of which is the "root of all evil."

AN ADEQUATE MONEY SUPPLY IS NEEDED
An adequate supply of money is indispensable to civilized society. We could forego many other things, but without money industry would grind to a halt, farms would become only self-sustaining units, surplus food would disappear, jobs requiring the work of more than one man or one family would remain undone, shipping and large movements of goods would cease, hungry people would plunder and kill to remain alive, and all government except family or tribe would cease to function.

An overstatement, you say? Not at all. Money is the blood of civilized society, the means of all commercial trade except simple barter. It is the measure and the instrument by which one product is sold and another purchased. Remove money or even reduce the supply below that which is necessary to carry on at current levels of trade, and the results are catastrophic. For an example, we need only look at the Great Depression of the early 1930s.

THE BANKERS DEPRESSION OF THE 1930's
In 1930 Canada did not lack industrial capacity, fertile farmland, skilled and willing workers or industrious farm families. It had an extensive and highly efficient transportation system in railroads, road networks, and inland and ocean waterways. Communications between regions and localities were the best in the world, utilizing telephone, teletype, radio and a well-operated government mail system. No war had ravaged the cities or the countryside, no pestilence weakened the population, nor had famine stalked the land. The Canadian economy in 1930 lacked only one thing: an adequate supply of money to carry on trade and commerce.

Bankers, the source of Canada's money and credit, had deliberately withheld millions from circulation by refusing loans to stable and growing industries, stores and farmers. At the same time they demanded payment on existing loans so that money was rapidly taken out of circulation and was not replaced. Canada was put in a "depression" and in deep trouble. Goods were available to be purchased, jobs waiting to be done, but little money. Twenty-five percent of the workers were laid off. Banks took possession of tens of thousands of farms and businesses on foreclosure. Gloom settled over Canada and we can only visualize the results if this had continued 20 years instead of 10.

6

Previous       Home       Contents       Next