• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
Gertrude Coogan, Money creators (1935)
 
Money Creators 
 Preface Chapter 1 Chapter 6 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 15 Chapter 16 Chapter 17 
Money Creators
 Who Creates Money ?Who Should Create It ?
by
 
Gertrude M. Coogan
 
First printing February 1935Library of Congress Catalog Card Number 67-28926
http://yamaguchy.netfirms.com/coogan_g/coogan_index.html5.4.2006 9:07:58
 
Gertrude Coogan, Money Creators
Gertrude Coogan
 Money Creators
PREFACE How long shall we allow our leaders, spiritual and political, to pretend that they see nothing, hearnothing, and know nothing ? How long shall we tolerate organs of education and information, publicand private, commercial and religious, which are drugged ? How much longer shall we silently consentto have the strong kept in a trap, the wise surrounded by fog, and the sincere millions caused to sufferneedlessly ?There can be no Liberty without Economic Freedom — America can have no Economic Freedomwithout an honest money system — one removed from the controls of the socially irresponsible privateMoney Creators.The problem facing us today is not the formation of a new political party. It is to inform theconstituents of every Congressional District so that they may put such pressure upon our Congressmenand Senators as to leave them no alternative but to do the will of the people. The people must
demand 
 of them an honest money system. The illicit political machines and numerous rackets will pass intooblivion when an honest money system is set in operation. The controllers of our money system are thecontrollers of our illicit political machines. Victims ! Do you want money made honest for you by the National Government; or kept “sound” for the MoneyCreators by mis-government ?Do you want U.S. dollars in sufficient number to keep the “wolves of depression” from your door; ordo you want dollars in such overwhelming num bers as to deprive them of all value, as the MoneyCreators have done in other countries ?The reader will ask : “Why have not business leaders known that our money system is dishonest ?They are intelligent, aggressive people who seem equal to anything.” The answer is found in the factthat with few exceptions business men are honest, and, as honest men, believe that few men aredishonest.The situation resulting from this concept has set the stage for any confidence game, large or small. TheMoney Creators have truly operated a confidence game.Our home town and city bankers are, with few exceptions, honest men. Through intrigue andmanipulations of gold and government debts they have become mere pawns in the world monetaryconfidence game.They and their predecessors inherited a system which, because it is, they believe always was. If theywould look into the origin of the system, and examine its nature, originated sub-rosa and only throughcenturies of legislative trickery congealed into Law, they would demand that the system be demystified,made non-collapsible, and honest in essence; for they would see that the near-by destiny of the system isruin for them as well as for others. January 29, 1935 
http://yamaguchy.netfirms.com/coogan_g/coogan_00.html (1 of 6)5.4.2006 9:08:03
 
Gertrude Coogan, Money Creators
 FOREWORD To the American People :It gives me special pleasure to have the opportunity to explain the principles and purposes of this book,written by Miss Gertrude M. Coogan of Chicago.The facts that Miss Coogan was awarded a Master’s Degree in Economics and Finance by NorthwesternUniversity; was for eight years a Security Analyst for The Northern Trust Company of Chicago; thatfrom the beginning she had a deep desire to understand the fancied enigma of money, have given her agreat insight into monetary science.The basic principles of monetary science are simple. It is a sound axiom of monetary science that thevalue of money depends upon the available supply of money in relation to the goods to be exchangedwith it. Knowledge of the science has been made difficult by those who have converted these simpleprinciples into an enigma. They have done so with ponderous volumes written on prices and on theprocesses of production, transportation, distribution and allied topics; weaving into the subject matterdeceptive terms so that the public has been grossly misled by the use of words which contain acceptedfalse premises.The intentional use of deceptive terms has made monetary science obscure. For example; the so-calledmonetary experts and financial writers use the word Inflation to stigmatize justified expansion in thevolume of money, when Inflation actually means
unjustified 
expansion. They use Deflation, whichmeans justified contraction of a previous unjust expansion; that is, contraction of previous inflation, assynonymous with
unjustified 
contraction, in order to commend that unjust contraction.They use the word Money as meaning gold and currency alone, when the word Money really means, asWebster’s dictionary truly says : “anything having a conventional use as a medium of exchange and ameasurement of value.” That is, Money means bank checks and bank demand deposits principally. It isthrough this deceptive use of the word Money that they say there is no relation between the volume of money and our domestic price levels. It is with this false use of the word Money that they deny thequantitative facts of money.They use the term Gold Standard deceptively because the weight of the gold exchangeable for acurrency dollar has no standard measure of value, and cannot have. The value of a fixed number of grains of gold exchangeable for a dollar, fluctuates directly with the expansion or contraction of bank credit money. It was easy to fix the currency price of gold, but the creators and controllers of bank credit money fixed the goods price of gold.The number of grains of gold exchangeable for a currency dollar is of very minor importance from adomestic standpoint. It is only in the purchase of foreign exchange, the currencies of other countries,that the number of grains of gold exchangeable for a dollar is of vital importance. When other countrieschange the grains of gold exchangeable for their currency units, it is necessary that the United States dolikewise, if we wish to enter export markets.In a really scientific money system, gold should not have a fixed price. The number of grains of goldexchangeable for a unit of currency, in reality, should fluctuate as the purchasing power of the dollarsthemselves change. Fixing the weight of gold exchangeable for a unit of currency has been the meansby which the price levels of each country have been altered at the pleasure of foreign Bankers.
http://yamaguchy.netfirms.com/coogan_g/coogan_00.html (2 of 6)5.4.2006 9:08:03
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...