The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1917-10-15
HIGH COST OF LIVING DISAPPEAR
IF WORLD CEASE COMING GOLD
THUS SAYS YALE ECONOMIST, WHO ADVISES HOLDING
ALL PRECIOUS METALS IN GOVERNMENT TREASU-
RIES IN FORM OF BULLION, ISSUE CERTIFICATES
AGAINST 1T AND QUOTE 1T UP AND
DOWN WITH COMMODITIES

ton would go on substantially as al
and out Of the monetary circulation. as
at present.
Varying the Weights Of the Gold Dollar
| With only paper representatives of
gold in circulation IL IL evidently pos.
sible TO vary al will the weight OF the
gold dollar. To do so is simply Ia
vary the quantity of gold bullion for
which paper dollar can at any time
be exchanged. II would be no more
difficult 10 make these variations I'm
weight than il is now for "A merchant
to alter the weight OF sugar which he
Twin give FOR "A dollar.
Index Numbers.
But. ii viii be asked. what rule or
criterion is 20 guide the government
in making these variations in the dol
lars weight? Am | proposing that
government officials be authorized to
mark the dollar up or down according
to their own sweet will?
Most certainly not. \ definite and
simple criterion for these adjustments
is at hand-the now familiar Index
numbers" OF prices. This is the tell
tale by which to measure and by which
to correct the depreciation Tor the con.
traryl of the dollar. The bureau COM
putting this index number would be
required to publikh II monthly, ex.
pressed as percentage of the original
price level as par.
Adjusting the Dollar by the
The figures, as published. would af-
ford the needed official sanction to the
mint office to change the rating of the
gold dollar II. at any time. the index
number were say. one per cent above
the legal par. the weight of the gold
dollar would forthwith be increased by
one per cent. IL for any reason this
added weight were not enough TO restore
the one per cent loss of purchasing pow
er u. e., to restore the price level to
par the next monthly index number
would tell the tale. II this We're. say,
still one per cent above par the dollar
would receive another l per cent coun-
terpoise. This process of counterpois-
ing would continue every month until
il proved sufficient. If, reversely. the
index number were found to be one
per cent below par one per cent de
crease in the dollar weight would fol- !
low and if the index number showed il |
TO be necessary the dollar would be |
lnloaded each month of ballast until |
-ighted again, that is until the index |
number Of prices got up to par.
No Shock.
The introduction of this system would |
lot produce any more shock than did |
he introduction OF the system of
tandard railroad time or the recent
of il for daylight saving"
ust as the time engagements of the
Whole world would have been shifted
" the simple shift from local TO stand
rd time, so the contracts of commerce
would ali be put on a truer standard
y the simple shift of the weight Of
he dollar
Plan Endorsed
| may add that hundreds of econom-
SITS, bankers and BUSINESS med. to
'hom the plan has been submitted.
ave given it their endorsement and !
nd that il had occurred TO many 9th
rs independently. But. unfortunately.
LIST as ii took time to convince the
orid of the advantages of standard
me, so il takes time to convince IL of
le advantages of standard dollar .