bankers. Why print the gold certificates if they cannot circulate? They can't even reach a commercial bank; they lie in the treasury, another police risk, and doing the people not one bit of good. It is merely some of that gobbledegook bankers peddle. If they base bank deposits on Corporation stock, why do they want Gold Certificates? Well, from absurdity to absurdity you travel if you follow the mysterious trail the bankers blaze for you when they dare to talk. Since either a cheque or cash must be used by the buyer in paying for a purchase, then they are identical, and not by any stretch of the imagination can be made separate monetary funds. The only volume of money is reflected, or would be if all deposits were reported in the bank statements, in total deposits (all deposits ) in all the banks of the nation. These deposits are used in buying and selling, or should be, and whether the seller takes your cheque, or whether you cheque the cash out and hand it to him, is immaterial. The fact remains, as admitted by the Reserve book, that someone must write a cheque and present it to his bank, before cash can leave the bank. And when you leave the bank with $10 you just drew out, your deposits are debited $10. I bought an American Express Company's $10 travellers cheque, a few days ago that I might photograph it for use in this story. It cost me 50 cents, or I had to add 50 cents to a Reserve $10 note, to get this American Express Company's $10 travellers cheque. So the cheque seems to be better money than Reserve notes. For the same reason I bought an express money order, and a postal money order, again paying a high tariff for the exchange.
Then if we must add to the bank deposits the volume of cash in the treasury and the banks arrive at a total volume of money; we should as the total of all companies' travellers and money orders, also total p.o. money orders, to arrive at a grand total, for these are just as good money as Reserve notes or silver certificates, as for that matter. The same as with personal with personal checks . . . . good when signed and presented to seller. You never saw a report of postage stamps in the post offices, total amount, and volume, etc. The postage stamps have no value until taken