Mooresville Guide in Mooresville, Indiana

Debating a Stable Currency and National Banking Reform

A speaker argues for a government anchored currency reform to ensure stability, arguing that free political control endangers value. He endorses a gradual replacement of greenbacks with bank notes backed by a nationwide guaranty fund. The plan shifts security from U S bonds to bank assets, with a five percent gold deposit, a transitional ten year path, and a restraining tax to balance supply with demand. He emphasizes national strength, debt reduction, and elastic currency to meet emergencies while avoiding inflation or deflation.