Chapter XV The Constitutional Solution

severely counterfeiters because adding new and uncontrolled money to a nation’s money supply brings the counterfeiter into competition with the producers of goods, and every dollar added above the existing supply cheapens every man’s dollar. It lets the man who does not produce or serve, take of the products of others and their services without giving value received in return. They fight counterfeiters because it is an axiom in money that every time you increase the volume of money in circulation, you lower the buying power of the dollar. That is the basic reason why we should forever destroy the debt dollar. It is a phoney dollar, and not only competes with the sound, honest dollar, but utterly destroys the fixed value of a dollar. So accustomed to the creation of money by making loans and buying investment obligations have we become, that even Congressmen are praising our "debt dollar." Debt has always been the enemy of sound business practices, the bane of stable governments. The wisest plan ever set up for industry, business) individuals, and governments is the "pay-as-you-go" plan. Corporation fighting to lower their income 'tax burdens uniformly have pleaded "we must have funds for replacement, improvements, advancements," which simply says, "we must pay-as-wego to be successful." Therefore, there should be no "debt-created dollar." When the Treasury (when there comes a need for greater volume of money to meet the business demands), gives the Government credit for say $10,000,000, this would not be a debt dollar; for there would be no bonds issued as evidence of a debt, as now under the Reserve System. It would be all of the people adding more dollars to the money supply, that there might be enough to meet their business demands. The dollar would immediately begin serving all of the people, because the Government would cheque it out to all of the people who sold goods to the Government, or served the Government, thereby saving for the time being the collection of $10,000,000 in taxes. These dollars would find a welcome place in industry, not as cheaters of the old dollars, but as helpers making it easier for the old dollars to carry the economic load of the Nation. As often as,