A Sound, Honest, True and Stable Money: The Luttgen Monetary System, the Natural and Economic Solution of the World's Monetary Problem

Excerpt from A Sound, Honest, True and Stable Money: The Luttgen Monetary System, the Natural and Economic Solution of the World's Monetary Problem

The monetary science, notwithstanding the improvements in all the other branches of the scientific world, remains to-day with the same imperfections that existed centuries ago.

The discoveries of the application of steam and electricity have aided more the spread of commerce and civilization than any other agent. These agents, however, have been antagonized in the march of progress by an imperfect monetary system or medium of exchange.

The monetary system remains to-day in its primitive state, but when properly adjusted, as this system provides, will exercise greater powers than both steam and electricity in the extension of commerce, civilization and Christianity.

The merchant seems to have left this question in the past entirely to the banker; but the banker has given no attention to perfect the monetary system, but has improved and facilitated exchanges and the means to insure safety for centralized capital, etc. He has taken no measures to reduce the frequency of panics, well satisfied that his experience and his measures of safety would protect him against losses during the periods of any panics that might occur.

The merchant has been more public-spirited than the banker; i. e., in establishing the system of insurance he provides for the safety of others as well as of himself.

We also may take the Mississippi planter, exposed to the periodical dangers of inundation by the Mississippi River with its 1,680 feet of fall, and a course through many latitudes. He was not satisfied in building levees merely to protect his own plantation against the recurring calamities, but through his efforts a substantial system of levees has been constructed that give protection to all industries within the Mississippi Valley.

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