Monday, October 5, 2009

Monetary Reform - Need and Method (excerpt 1 (1939)) con't

our society has been greatly encouraged by the government to save; but saving and hoarding our present type of money (itself a limited and valuable commodity) only accentuates the evil of insufficient money circulating to keep trade moving - it is a fear of illness, old age, or future want, which usually causes men to indulge in undue saving or money-hoarding - but if a full livelihood could be guaranteed for all the aged, and for the needy, and for the sick, then the fear of old age and illness would vanish, making saving unnecessary - the simplest system to check undue money-hoarding would only waste paper - this would enforce full spending, vastly improving trade and benefiting everyone.

No comments:

Post a Comment

Mammon or Messiah research contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is presented without profit for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.