Page 14 - Michael Journal March 2020

Father Coughlin, a Great Apostle of Social Justice

Denounced the Bankers’ Debt-Money System

Charles Edward Coughlin was Money! Questions and Answers
born on October 25, 1891, of Amer- While the National Union for So-
ican parents residing in Hamilton, cial Justice appreciates the splen-
Ontario. He was ordained a priest did efforts which noble statesmen
in Toronto in 1916, and incardinated have made in the past to restore to
into the Diocese of Detroit in 1923. Congress the power to coin money
In 1926, he founded the Shrine of and regulate its value, there is also
the Little Flower (Saint Therese of the realization that these efforts
the Child Jesus) in Royal Oak, Mich- have been in vain because an un-
igan, and became widely known in informed and misinformed people
the U.S. with his nation-wide radio have labored under the delusion
talks on social justice in which he that switching party politics instead
defended the poor and boldly de- of changing the money policies was
nounced the bankers’ debt-money the key to contentment and prosper-
system. In 1936, more than 150,000 ity...
people packed a Chicago park to
hear a single address by Father The Constitution and money
Coughlin. Wherever he spoke in How is personal, physical life
public, similar throngs heard him apply the principles sustained under diversified activities?
of the papal encyclicals to the practical problems of By the exchanging of goods and services.
the nation.
In 1932, Father Coughlin was a supporter of presi- How is the exchange of goods and services ac-
dential candidate Franklin D. Roosevelt, who had complished?
promised to help the poor by correcting the banking Through the medium of money, which was origin-
system and stimulate the economy with a revitaliza- ated by social necessity to make possible exchanges
tion program called the New Deal. After a few years, of varieties of articles and articles of unequal value.
Father Coughlin realized that not only was Roosevelt Is the substance of which money is made import-
doing too little to help the poor, but he was, in reality, ant?
a loyal servant of the financiers he had denounced in No. It is the legal status given it by government
his campaign. The New Deal banking legislation, far stamp that makes it acceptable by all as money,
from correcting the defects of the debt-money system
or curbing the power of the financiers, was rather en- whether it be made of metal, or of paper.
trenching this power further. Father Coughlin began Who should create money?
to criticize Roosevelt, which earned him persecution, The Government, representing all of the people.
and the censure of his superiors. Father Coughlin In our country, what governing body should rep-
nevertheless remained loyal to truth and justice until resent all of the people?
his death on October 27, 1979.
In 1936, Father Coughlin wrote an excellent and The Congress of the United States.
easy-to-understand book entitled, “Money! Questions Does the Constitution of the United States pro-
and Answers”, which explained in a question and vide that Congress should originate our money?
answer format, the flaws of the present debt-money Yes. It is very specific and well defined: “Congress
system, and how an honest money system could be shall have the power to coin money and regulate the
attained. The preface states: “Because money is the value thereof, and of foreign coin”. Article I, Section
most vital and fundamental problem to be solved be- 8, Part 5.
fore social justice can be reestablished, this is the first Under existing laws (February 1936), does our
of a series of books which will deal with the entire pro- National Government originate our money?
gram of social justice.”
Following are some excerpts from the book, No, only to a very limited extent.
which are more timely than ever as we experience Who does originate (create) our money?
the negative consequences of the debt-money system Private corporations, commonly called banks,
so acutely. The need for an honest money system has now originate practically all of our money.
never been as urgent. Why have private individuals usurped and exer-
Alain Pilote

16 MICHAEL January/February 2020 www.michaeljournal.org