Issued Twice a
VOLUME 2
DUNN, N. C., NOVEMBER 1, 1934
Subsicriptioi W $1.00 a Year
-———. '"1
' J - ^-7^4"
, NUMBER 20
Ignorance of the existence of a natural law or
merely ignoring it does not insure impunity to its*
violator, whether it’be fhdffidual, nation, or world.
Safety lies only in respecting such a law or in coun
teracting its effects by the interposition of another
natural law. One must avoid-electrically charged
wires or handle them with insulating gloves Ignor
ance of the faet that the wire-is charged or that
heavy voltage is death doesn’t alter the case. '
Nature’s RestoraM© Creations Are Perishable.
.Natures wnoie series of reproducible^creations'are
perishable, from .turnip to' loftiest tree. L Therefore :
none of them has been preferred asa means of hoard
ing wealth for a lifetime or as a legacy for one’s
progeny unto the third or fourth generation. More
over, if replaceable-stores should be hoarded, in a
land of easy reproduction they, would become worth
less. Joseph’s com was at a premium or at par only
during the seven lean years. Todayt in a world in
corporating into one community the two hemi
spheres, northern and southern, those lean years do*'
not occur on a world-wide scale—certainly not a suc
cession of them. '
Moreover, the majority of mao’s creations-either
perish, deteriorate in. quality, or,.become outmoded.
Assume that Ford had chosen tq.keep^a portion of:
his T-Model cars as his annuaLprofit! If outmoding
had not occurred, his own production would have had
to be limited on some occasion if he could ever profit
by the hoarding of cars. Nor would be have had con
trol of the output of other factories. T-- - ^ -
In view of the facts 'suggested above, the precious
inetals
been chosen for.ag^CHe^petii^neht
Gypsy of whom Mr. John B; Anonyuious speaks in V
his able article chose the gold coins of man^ nations ^
Ihe Southern farmer, assured that his children would,1;
become farmers, sought to possess sufficient "land to
give each child a homestead. Fisheries, forests, fac-'
tories and mines .are, or were, infallible Investments.'
The essentials of a permanent investment lie either
in the irreproducible nature of a desirably metal or
stone or in the fact of field, forest, or fishery’s being
a constant source of wealth. - ‘ j
Seeking to Avoid the Natural Law. ’
When the time had come that .the favored few had
gobbled up land titles, possessed the factories, fisher
ies, and mines, and still were not satisfied with hav--‘
ing monopolized the permanent wealth, such as the/
precious metals, gems, and advantageous factory and;
commercial vantage points, they; sought to avoid the
consequences of the natural incapacities of Natnr i’s
and Brawn’s constantly renewed creations as fit ob
jects for hoarding by taking mortgages upon future:
creations of the nation or even the world, thus ex
changing unconsumable present-day commodities for
presumably consumable future ones- Thus they piled
not only an Ossa upon a Pelion of debt, but. a Blue
Ridge upon the Rockies, and seemingly supposed that
they were nullifying Nature’s decree that reproduci
ble commodities are not fit objects for hoarding.
The nations corporation, and individuals thus un
wittingly planned economic suicide. The nations have
pledged billions of dollars of future products of Na
ture and Brawn to subjects who already possessed
tbe commodities needed , or the means of securing .
them, in the case of the allied nations of Europe,
tbev pledged to this nation at least a two-fold future -
Product of Nature and Brawn for its existing surplus,
of those commodities. In turn, this country pledge.! .
a two fold return of future products, or the means of
owunng them, to purchasers of bonds. Yet not one
iotas worth of future products could be- used in the.
"ar> for every bit material and all 4hs brawn
utilized or destroyed!^: that war already exited, and,,
thtre was no reason under the sun, wtpr immediate
iov'es should not be made upon the- wealth of na-.
tionals for a war being fought by: .mjttionals in the.
Opposed interest of all nationals. J, '
The Process Continues-... -
^le U nited States government, stilt continues the
Process of piling Ossas upon Pelions. Owners of
ffioney are forbidden by the natural, decree that re
producible goods are not a fit commodity for board-'
ing to convert their cash-into wheat, cotton, steel
faiis, or any other immediate product of Nature or
Jff „ 7. ' . ..
Brawn. They already possess the sources of wealth,
except the brawn and the brain of workers, which
latter can be used advantageously only In conjunc
tion with the capitalists* lands and equipments. Yet
these same capitalists cry out for a balanced budget.
And The Voice would echo that cry—“Balance the
budget.”
Nothing Lost By1 Balancing Budget.
It stands to reason that anybody or any institution
that can pay cash for a bond, the proceeds of which
are to.be spent by the government in buying existing
commodities for its wards or by employees and wards
for the same purpose, has an excess, while millions
must receive charity or eke out a living on govern
ment made-jobs. Then, balance the budget. Balance,
it by levying upon the incomes, or even the' capital,
of those who have an excess. But the constitution
stands in the way of a'capital levy. If money is reck
oned as capital and thus becomes sacro-sanct against
government levy, let the holders of the money and
the credit which constitute a mortgage upon the fu
ture products of the brawn and capital of the country
keep it, and let the government create its own money
supply. The billions possessed those who could
not spend, their possessions in ji hundred years can
become of any immediate value jto their possessors
only by loaning and-by immediate purchasing. The*
government has fu'tilely sought..to have it loaned;
itself is the only real borrower. 'The owflers, prenm
ably, have already bought to the satiation of their
X*" • 9 •* " . r ' Jr • .. •*." :-*:i
<m>.-the'fen&Mctr W i
~ JLWrby
iease. -A#<Md promising me products of unborn gen
erations, with interest bonus, for products which-«•!-.£
ready exist in excess. Yet there would be no effec
tive inflation- through substituting new currency for
borrowed. : - ’' 5
But if so, it'is no more unfair to cut the value of
the excels dollar, one that Will not be heeded for
necessities in years, than it is to cut the value of the
hand-to-mouth man’s dollar.; Your food dollar has
been almost cut into halves. Tip capitalist’s dollar
whieh goes for food has likewise been cut in halves.
But his excess is not being cut. The probability, in
stead, is- that it would Again be at par in terms of
ham, fowl, and other commodities when it becomes
necessary for the owner to spend it ten or a hundred
years from now for those necessities. Practically- all
my dollars are cut in value deeply; only a few of the
wealthy man’s are thus cut. An immediate inflation
sufficient-to tide over the period of-distress without
further piling Ossas upon Pelions, should, after all,
have but small affect upon the ultimate value of an
excess of cash or of wealth convertible into cash.
Balance the budget. It can hurt only those who have
more than they need, even if it-.can hurt them. For
in the long run the debts must be paid from the prod
ucts of the sources of wealth .which are now so
largely possessed or controlled by those who would
have to furnish the larger share of the means fox
balancing the budget. And do not balance it by re
ducing essential or needful expenditures on the part
of the government.
Nothing can become a greater handicap to prosper
ity than a double government levy upon the annual
products of the nation—the one to pay for consumed
goods tihat already existed in excess and the other to
meet the annual governmental expense account.
Every Dollar of Debt Cuts Future Consumption,
Therefore Production. .. V' .’i
Either the heaped-up government indebtedness must -
be paid out of future profits hitherto hoarded or spent
for enlargement of industries, or from pinehing the
hand-to-mouth workers. If the present capitalists. ®re
to pay the debt ultimately, it will be better for them
to pay it ,now. If it is. to come directly or indirectly
.opt of the incomes of the masses, it ipevitably means
that there will be an under-consumption commensur
ate With the annual contributions to the indebtedness,:
and. that meanS a commensurate decrease™ prodne
tion, or the accumulation of a surplus, the latter ul-s
timately resulting in an effort to balance production
and consumption. The effect of such an effort we.
have seen during the last five ye*ra
Every Attempt to Draft Upon the Future
Hag Similar Consequences. . ^
'-t'X
. - The future can entribnte nothing to the present, i
The atempt to make it appear to do so curtails .pres-' r ;
ent consumption and, therefore, present production, >
and instead of resulting in what is a real good to.
individual or nation, , results, in a, loss to the whole •
social body. The billions withdrawn from current
consumption expenditures through payment of. Ufa ,
insurance premiums are curtailing, production to an..
approximately equal extent. Yet so long as the pr ae-j
tice exists the individual' is to be commended wh> ‘
thus undertakes to provide against the future. • It is
wise when in Ro&e to do as the Romans do; but that
is not necessarily approving the course of the Ro
mans. The individual Roman or the visitor may not
be able to rectify the ways of Rome, but Rome might
wisely mend its~qwn ways. ,
Fire insurance is a different matter. The money*
expended for fire insurance is, in an approximate de-'
gree, annually reinvested in building to replace the .
burned properties. Premiums and expenditures in
consumption, in a greet measure, annually balance
each other—both falling in the same reproduction •
period- Life insurance premiums can find a route to
consumption expenditure during the.same year only, /
by the way of loans, which result essentially In
-another attempt to levy upon the future for present
benefits. And when a life insurance policy is paid to.
the beneficiary, its expenditure for; consumptive pur-.,
ppses is supposed tU- be drawn out over a number. of,
years. Many speculators als0 invest* in life insmasj^fe
.
rvresburces when the wheel of;
fortune-turns and^their cj
'tlalseiiements. Sucfi; eiFen3rutres^become;Sadrag
upon consumption and therefore upon production—
and thus a handicap to. prosperity, • . . * ( n
- How to Keep the Hands of the Present :>
• :r ':rI'J-*: Off the Future,
For governments to keep their hands off the future >
and leave it free to balance' its own accounts, it is "
only necessary^ that they balance budgets. Dollars “
are only variable as they are used in purchasing
goods or services. They can be spent only for those
goods and services which actually or potentially exist.
It is. no hardship upon a country which has . a sur-.
plus of goods or even a sufficiency for all its citizens*
to pay over the number of dollars that are necessary*
»to secure the portion of goods that should go to gov
ernment employees or wards. Tax levies that, leave,
the hardest-hit more than a plenty are not unjust,. ;
and certainly are not so much calculated to work dls
ruption of the balance Of consumption and produc
tion as are governmental borrowings-. n *
. For individuals to have removed the fear of-the
future for themselves and dependents, it • is only
necessary to have a comprehensive .system of pen
sions. Assure a. man that he will be provided for in
case of disability, during periods of involuntary un
employment, in old age, and that in case of his death f
his widow and children will be provided for by ade-,
quate pensions, and the deadly incentive to acquire, .
wealth at the cost of either gouging his neighbor or.
stinting his own family will be largely nullified, and
consumption on his part will be fully maintained. On
the other hand, laying up for the future, whether
such hoardings are secured by rendering less than he v
gets or by stinting, in either case, has the effect of
cutting down consumption, and therefore production
in the former case by reducing the purchasing power 4
of the man to whom he has not rendered an adequate -,
quid-pro-quo, and - in the latter by failing himself ,
to buy an equivalent of what he has sold. . - »\,i y
me sodauzuion OI awuicuw. -A *■ n ;
Another means toward maintaining a family’s full
' purchasing ■ power and thereby his full quota toward' -
production, which -connotes full employment, for
the government to take over medicine and hospital-' -
ization just as it has/ the schools. Of course that^
■tfould mean more taxes, but taxes cannot hurt in a.
country that is producing enough'for all, if not mors
than needed. IH the taxes come from those who
have received more than they need; but only to thp_.
extent necessary to provide the aetu&l needs of those
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