War appropriations
The losses and costs borne by the government and the people of the United States from unsound money experiments, from colonial times down, doubtless total more than our staggering World nations. It is declared by B. B. Agger, an authority on economics, in the New Testament, "New generations of adults, like children, have to learn over and over again that, when playing with fire, one runs the risk of being burned," Mr. Agger says. "Indulging currency heresies constitutes such an adult playing with fire. A glance over our own historical experience would demonstrate this to the most ardent 'easy money' advocate, but such advocates are usually those to whom history is 'bunk' Journal of the American Bankers' association. "Cheap money," he says, "is very costly, since frenzied finance, speculation, and business disaster have invariably followed in the wake of unsound currency. He cites historical experience showing that widows and orphans were among the chief sufferers.
Soft Money Advocates Seek Profit
"Unfortunately, those who are willing to kindle the kind of conflagration involved in'soft-money' experimentation are not the only ones hurl, indeed, they may extort an advantage for themselves. But the record is all too clear concerning the mass of people." 