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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
poverty.
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-
munity.
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
ores.
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 to 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
u
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