The Author]
Cathcart grinned. “He got the cash money the same way we have gotten all cash money since Roosevelt put the gold back in the ground—right off the printing presses. But he didn’t have to print much of it. The checks were issued at the Bank and the merchant and a great many others had accounts at the Bank and very little cash money changed hands. The bulk of it was mere bookkeeping entries, made by the bank clerks. Holmes had implemented what the bankers had known for centuries but were barred by LaGuardia from doing—taking money out of an inkwell. What’s the matter, son? Still not satisfied?”
“Well, I don’t know. Everything you have said seems okay, but how about this? If you keep pouring money into a country indefinitely, you are bound to get inflation, fixed prices or no fixed prices.”
“You don’t pour it in. You add just enough to keep it running. Each fiscal period the additional amount is the closest possible approximation of the amount necessary to prevent a spread between consumption and production, based on the value of the nation’s inventories.”
“But why do you have to keep adding money all the time?”
“I said I would stay away from theory but I’ll give you this hint to chew over: the amount necessary to add each period is theoretically equal to the amount of savings invested as capital in the preceding period. And one more hint: Doesn’t it take more money to run the country’s industry now than it did when George Washington was President? But now let’s pass on to the New Crusade. It’s getting late.”
“OK.”
“It is difficult to assay the causes of any religious movement. There appear to be mass movements of the human spirit that we do not fully understand. Karl Marx attempted to interpret all history in terms of a rigid materialistic causation, but how does that account for the Children’s Crusade? Carlysle would have us believe that history is no more than the acts of certain great men, heroes. I find that equally hard to believe. Would George Washington have been more than a gentleman planter if England’s rule of the colonies had been more liberal? It is my belief that history is a story of the action of individuals, acting according to their characters in the environments in which they find themselves. A change either in character or in environment would change the resulting action. In the interplay of lives there are strong characters—Carlysle’s Heroes—who exert powerful influences of personality and intellect on their fellow men, and thereby shape the environment in which less dominant creatures act. If these strong characters are born in a period and are able to reach an environment in which their peculiar talents find maximum expression, they will write their names large on the pages of history. ‘There is a tide in the affairs of men, which, taken at the flood, leads on to fortune.’
“Such a dominant character was Nehemiah Scudder, founder of the New Crusade and leader of the Neo-Puritans. He found the opportunity to use his exceptional talents in the Middle West in the third decade of this century. He was first heard of about 2030 as an itinerant evangelist of an obscure fundamentalist sect. He preached over most of the Mississippi valley, and although not prominent enough to make a splash in the news of the day, he had a reputation in his denomination for the forcefulness of his preaching, and the virulence with which he called the vengeance of the Lord upon the erring brother. But his fortunes took no great change until the death in 2023 of a Mrs. Rachel Biggs, the septuagenarian relict of a wealthy shoe manufacturer. Mrs. Biggs left four million dollars outright and that much more in trust to establish and maintain a tabernacle and television station to be used by the Reverend Scudder. We have had our radio priests and our political preachers many times before, but while most divines are tuned out at once, Brother Nehemiah was able to project his magnetic personality through the broadcaster and those who heard him once were thereafter his followers, if they were temperamentally ready for his brand of fire and brimstone. He was able, also, to choose and inspire other preachers to help him in the organization of his rapidly growing spiritual following. About 2024 he interpreted certain passages in the Apocalypse to mean that the new Jerusalem was here and now, that Armageddon was at hand, that his followers were called on to take up the fight. He organized the Knights of the New Crusade to implement him for Armageddon. This organization was modeled in nearly every respect after the Ku Klux Klan of the previous century, even to many details of ritual, uniform and constitution, which Brother Nehemiah had not bothered to change.