Cheap Money and Anemia

by | Ron Paul | 0 comments

” …Then, as now, occasional good things were gotten off in the course of debate or oration. G. E. Marsh, of the Crescent Society, a junior, was pitted against one of the freshmen in debate. He was the crack orator of the college, eloquent and graceful. The subject under discussion was that of cheap money. Marsh, on his side, argued for the immediate issue of a large amount of fiat money or greenbacks. He eloquently depicted our country as a magnificent giant, whose arteries of trade and commerce had become drained of the healthful life-giving blood of currency. It was beautiful and effective, until the freshman arose, and in a plain, blunt fashion, remarked that he had never heard of curing Anemia by pumping water into the circulation… ”

– 1896 Iowa State University (then called Iowa State College of Agricultural and Mechanical Arts) yearbook (Library of Congress call number LD2548 Io9b), page 120, Alumni Reminiscences, Arthur P. Barker, Class of 1876


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