The sun., 1916-12-03

the conditions Of different crops. and
then that this be followed up hv get.
ting men and capital into the indus
tries which offer the greatest oppor.
tunities. This can easily be started ny
Classifying the great industries OF the
country, giving each a number.
Every business man would hc re-
uulred to register under one 81 these
numbers. If his business were such
that he would come under half u dozen
classiications. hen he should No
obliged to operate n similar number o.
bank accounts with his checks nun.
bered accordingly.
I'm the classification which my or.
SANITATION has worked out the news.
paper business is numbered As thirty.
four. Hence on all checks passing
through your Office would appear the
number "a. The numbering Of thee
checks. however. would not lie sum.
Gent. In addition they would b
punched when printed.
This punching would enable the
checks to be sorted In the clearing
house by electrical sorting machines
such as are used in the Census uf'ice.
With the standardized check and
standardized punching th!r coud
easily I've done without tho slightest IN
, convenience tn any manufactures or
merchant. He would max" ou' his
I check Just as he always has made II
out without any additional care or
trouble.
AS these checks would come into
the clearing house. however, before
than xx..ra raRainfaI thpNs would Toe Tln
through the electrical sorting machine
and 10y the punches would Ice grouped
automatically according 10 their class.
ifCation. Thus automat.ylllv all
checks with - on them, that is, the
concerns in the newspaper business
would be found in one box and CouHigf
as n group. This would require ONLY a
little more work on the part r the
clearing house and the Federal re-
serve banks than they are now DONG
"You see at once what would 10" me
results of such a system. J. "obh
enable the Federal Reserve Ht'k 10
discover the 'microhc that is a'lo -
disturb business before that ni'Io'e
has had a chance to work. lN'rv
week the Federal Reserve Bank ""ii
have a tabulat!on or the cNa,' hlS-
ness being transacted in each separate
line. This, with a similar an1ly-S "
bank loans, would give the exact m
formation on the business SITUATION
which We now have on h crop s'la'
ton.
"Of course. before the Fca'ral re-
serve system was in operation AM h3h
control OF the clearing OF checks ms
could not be done. To-day. however
the time Is ripe for giving the hls,ne"
world this much needed Information
"Of course, So long as industry
running along normally the FEDERAL
Reserve Board need Civ ov' pore ''
this Information. When, however,
raw that overproduct.on was develop
ing In any one industry IL ,.H' s'w'
municate with this industry a'l .Fs
the barn door before the hots' was
stolen. In the same way VIE 'hes
weekly figures showed that tie ACTIVITY
in some one industry was nhu"-HlA"l
low then n pubic nnnoHr ''nem
could I've mad" IN no t. prcr'ri az
normally high prices.
"As ! tn. ,Nt- .vcr with snw' u.s.
ness men they say:
"'I}ut, Mr.. RaI,,or. su.h r'' = A'e
entirely unnecessary Slpl.t 3d.. '''
mand will take ear" Z iu." =
II there 10 overproduct.un iH ~" Inc
the price Drops and urnJI'
n there Is undcrprodpc' n ~ some
one line prices rise ana -
then increased
Yes. 81 course. this IS .
this very thing Is what ~
fTtnl't II g.. fl,S, N.,F