counterfeit dollars, then squeeze these phoney dollars out, and demand pay in the 100-cent dollar. It would be like my filling the pockets of all my neighbours with my "worthless IOUs" then compelling em to pay off the notes I got for my IOUs with gold dollars. It is like lending a wheat grower $5,000 when wheat selling for $2.00 a bushel, and compelling him to pay the $5,000 when wheat is selling for $1.00 a bushel. When money fluctuates investment obligations should fluctuate in lock-step with it. Of course that would compel Congress to "fix the ceiling over and a floor under prices, wages, rents, and all goods for sale." 21. Require all persons, firms, and corporations — savings, and Loan corporations, Trust corporations — keep their cash and deposits in the Depositories of the United States. 22. Since the creation of the Nation’s money, fixing its value, keeping the people’s deposits "cashing and clearing their cheques" is the most important service Congress can render the people all expenses of the Depositories shall be paid out of the Government’s general revenues. No service charge would be made. No money orders would be written. A depositor would mail his cheque to any other community in the Nation in payment of a monetary obligation at a cost of only 3 cents. The free flow of deposits in the stream of cheques is absolutely necessary that our trade and commerce may be active, unhampered, unimpeded. A dollar must move to any point in the United States, and pay a dollar obligation.
How to Handle Foreign Exchange 23. The Congress, would provide a separate department of the Treasury through which all foreign exchange would be handled, preventing outside money coming in and flooding our money supply, except under express, orders of Congress. It would, with other nations, arrange exchange ratios, and otherwise keep a close watch on our foreign and domestic money. 24. Inasmuch as every capital investment, under the erroneous, practice of "the flag follows men and money," in a foreign country, as well as all loans, involving the Government, no investment in a foreign country or a loan could be made by any citizen or corporation to a foreign citizen, except by special permit