Very correctly, then, gold was not used as currency money. But we did discover this from our own experience and from the experience of those who preceded us that it was quite possible for our Government, or for those who had control of the gold, to keep if in a safe place and issue against it those dollar bills that we carry around to the extent of two and one half times as many dollar bills as we had dollars' worth of gold in our Treasury or in our vaults. I am telling you absolutely nothing new when I am repeating these ancienthistory facts. Currency money at the rate of two and one half times the amount of gold money would be found to be adequate and would be found to be reasonable, and we would be on the gold standard. Now, we had this thought in our minds, that the philosophy of capitalism, as I understand it and interpret it, means that m the issuance of money, capital provides a means by which we may have two and one half times as much currency money as we have of gold money, and by which we may have 12 times the number of debt dollars that we have of gold dollars in our hands for safe-keeping. We are perfectly conservative when we do that, but what happened? After the great war, we awoke one morning, with the aid of our bookkeepers, to discover that we had about $235,000,000,000 payable in gold. Those 8235,000,000,000 were not all Government dollars. Some of them represented insurance money owing to policy holders, and some of it was corporation money owing to stockholders. Some of them were corporate debts as well as private debts. The $235,000,- 000,000 was simply the sum total of our national, corporate, and private debts, payable in gold.