Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-12-27
ECONOMISTS MEET HERE
TO DISCUSS PROBLEMS
Thirty-Fir>t Annual Session Gets
Under Way in This Cit.
8 To-Day
IRVING FISHER HEADS BODY
Organization Embraces Associations
of Agricultural Legislation, Local
Labor Legislation, University III
structors in Accounting and Others.

beginning this morning and conclud-
ius tomorrow night iho Aime rio.h
. -l.conomiC Association VIII b~ in con-
veGtion AZ the jefferson Hotel. This
is its ;hirty-irst annual meeting. aud
over 2vo delegates from The United
states and abroad are expected TO oe
IN attendance. Other associations
meeting ST the same time and whose
work is connected with that OF the
follows: American Association o,
Agricultural! legislation American
.SocioloS lea / Society. American Statist-
cal ASSOCIATE zion. american Association
for labor Legislation, American AS
ISOLATION OF University instructors in
The uiiicia! announcement, concern
ing the convention Of the different
~Becanse OF the, governments schedule
fcr Universities, the meetings have had
10 be conhned TO Two days. In view
OF this limitation on our time and in
conformity with the spiri, of reducing
ncnessentials, no time has been set
aside tor entertainments.
ST\NDAnDIXATION OF DOLLAR
- IMPORTANT QUESTION
Professor Irving Fisher, Of Yale
umyersity. is president OF the Eco
is Allyn A. Young. Mr. Young will no.
10 in attendance on the convention. as
h. accompanied President Wilson TO
one of the impor,an, questions 10
bo considered at the gathering to-day
S that OF the. Standardization of the
5cssor Fisher and Il w, Babson eco
nomst with the United States depart
men; OF Laoor, have devoted their lives
TO bringing before the people X Is
declared that this is necessary TO keep
lrices from climbing higher Discuss
ing This subicc; yesterday, Mr.. Bah
This proposition is simple one.
There arc three classes OF people Ihe
first includes owners o: property. such
,irl. In, Al ~ Nl tnr ia
second class is composed OF the mid,
dlemen The third class includes all
others, such as Ne usually embrace
under the term workers and consumers.
The middlemcn are not substantially
Effected oy high or low prices They
10 the standard OF values The other
TWO classes are vitality affected. Il is
10 the interest OF the first class TO
dcpreciate the valuc of money and.
thereby. appreciate the price Of com
moditics. Our dollar is based on =,
certain amount of gold, and this is
all owned by the first class mentioned.
is controlled and its purchasing power
determined by people who own the
property. This is wrong It should
ment, and should be based on the 800
commodities which everybody has =
share in and not on gold alone"
GOVERNOR DAVIS WILL.
PRESIDE AT NIGHT SESSION
~ luc SeSsloii AhlS evening boN
ernor Davis Will preside. Among the
sections which will hold discuss ions
at the session this morning are those
On. accountancy, marketing DDS
and costs, rate OF interest and price
levels, monetary standards. foreign
exchange and taxation.
In the afternoon matters to be dis
cussed will include Labor Problems"
international Phases OF Labor Recon-
struction" and The Psychology OF La
nor Unrest
Address by the president and the
reading OF papers on divers subjects
will feature the evening session.
Report OF tho committee on war III
nance. by Chairman l.. Il. \. Scligman.
of Columbia University. Will he one of
the principal features of to-day's scs-
sion. The sum OF $4,000 Was given
for the gathering of materials. which
make up this report.