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by Louis Even

“The Money Myth Exploded“

was one of the first writings of

Louis Even in the mid-1930’s. One

must keep in mind that it was right

in the middle of the Depression,

with the gold standard still prevail-

ing, and millions of people living in


Even though the story talks

about five Canadians, the conclu-

sion can be applied to any country:

all countries are borrowing money

at interest fromprivate banks, which

create debts that cannot be repaid.

The solution is for each nation to

issue its own debt-free currrency,

which would be distributed to the

population in the form of dividends,

since we are all co-heirs of progress

and natural resources.

1. Shipwreck survivors

An explosion had blown their

ship apart. Each one grabbed the

first bit of available wreckage.

When it was over, five men hud-

dled on a raft which the waves

carried at will. There was no sign

of the other victims of the disaster.

Their eyes searched the hori-

zon hour after long hours. Would

cated animals they encountered,

there must have been men here at

some time before them. Jim, the

animal breeder, was sure he could

completely domesticate them and

put them to good service.

Paul found the island’s soil, for

the most part, to be quite suitable

for cultivation.

Harry discovered some fruit

trees which, if properly tended,

would give good harvests.

Most important were the large

stands of timber containing many

types of wood. Frank, without too

much difficulty, would be able to

build houses for the little com-


As for Tom, the prospector,

the rock formations of the island

showed signs of rich mineral de-

posits. Despite lacking tools, Tom

still felt his ingenuity and initiative

could produce metals from the


Each could serve the common

good with his special talent, and

all agreed to call the place Salva-

tion Island, giving thanks to Provi-

dence for the reasonably happy

ending t

o what could have been

total tragedy.

some passing ship see them?

Would their make-shift raft find its

way to some friendly shore?

Suddenly a cry rang out:

“Land! Look ! Over there, in the dir-

ection the waves are carrying us ! ”

And as the vague silhouette

proved itself to be in fact, the out-

line of a shore, the five men on

the raft danced with joy.

There was Frank, a carpenter,

large-framed and energetic. It was

he who had first cried, “Land! ”

Then Paul, a farmer. You can

see him, front and left in the pic-

ture, on his knees, one hand

against the floor and the other

gripping the mast of the raft.

Next is Jim, an animal breed-

er; he’s the one in the striped

pants, kneeling and gazing in the

direction of land.

Then there is Harry, an agri-

culturist, a little on the stout side,

seated on a trunk salvaged from

the wreck.

And finally Tom, a prospect-

or and a mineralogist; he is the

merry fellow standing in the rear

of the picture with his hand on the

carpenter’s shoulder.

2. A providential island

To these five men, setting foot

on land was like returning to life

from the grave. When they had

dried and warmed themselves

their first impulse was to explore

this little island on to which they

had been cast.

A quick survey was suffi-

cient to raise their spirits. The is-

land was not a barren rock. True

enough, they were the only men

on it at the moment, but judging

from the herds of semi-domesti-

The Money Myth Exploded

Money is created as debt



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