Michael Schemmann

Money in Crisis: a Practical Solution for Paying off Canada's National Debt. Reprinted 1st Edition of 1991 Michael Schemmann

This booklet is a reprint of a publication that first appeared in September 1991, created an uproar in Canada?s parliament and the provincial legislatures, resulting in correspondence with the ministers of finance and the abandonment of Canada?s tight monetary policy. The Looney fell to 63 cents U. S., and the Canadian economy started booming. ?The author, who lives in Vancouver, B. C., suggested to me that publishers are motivated more by a harsh critique than one that is blandly favorable. Too bad; I cannot be harsh on the substantial portion of the book dealing with history and concepts. It has refreshing clarity that covers an otherwise tedious mass of research. I like it.? ? Miner Baker, Seattle Post-Intelligencer. ?I agree with your position that the high cost of the federal government?s fight against inflation is not worth the assumed benefits. The federal government should abandon its high interest rate policy to facilitate and economic recovery in Canada.? ? Floyd Laughren, Treasurer of Ontario. ?Who do you think you are to tell me that Canadians are disgusted with my performance [see page 84?Author]. The Canadians that I have represented for 23 years in the province of Newfoundland respect my performance. It is the over-qualified self righteous students like you who think you have the answers to Canada?s problems; but history tells us that you have always been, are at present, and always will be, wrong.? ? Jack Marshall, CD, Senator from Newfoundland. ?You have preached most eloquently to the choir. I have been saying the same thing for 30 years in Congress.? ? Henry B. Gonzalez, Chairman, U. S. House Banking Committee.