The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-08-25
PROF. FISHER or
YALE WOULD SHIFT
WEIGHT OF COIN
Declares Shifting with Tides Of
Credit Means Foundering on
Rocks Of Anarchy. Tinancicrs
Said to Agree with Plan.

.
New Haven. Gonna merica
stands al the cross roaaA. our prcsi-
dent. our congress-. our ltnanciers, our
people. al realize A.
MIN she take the path that leads
20 permanent business and social
safety or the hroud highway to red
rulnf
Ne an know that tho high cost Of
living IN the great fundamental
OF All this sefthing unrest. and thar a
sure sure fur the high cost OF living
rrof Irving rishcr Of Yale. one OF
the nation y foremost economists, has
perfected a plan which he declares
VIII abolish the high cost OF livins
permanently. aud y Is stated NAT "a
number OF the worlds greatest hnhn-
oilers. including Frank A. NnnderiiPi
Henry l.. HirK.nson, George Foster
Peabody and John Hays Hammond
aerte with him.
Fishers plan likes the PURCHASING
power Of a gold dollar by shifting ~
weight in proportion 10 the inyreast
or decrease OF the cost OF living.
lie would make "A gold dollni
worth 100 cents at all times instead
OF 30 cents. as u n now, measured bS
~ purchasing power. .
"a; IL your golden opportunity
says the Yale man, 10 set WORE
standards" He makes II plain INA n
we do not accept this rcallr scientific
way out Of our %dinicuitlss. III We TAX
the ground ihat we must simply dril
with the tides Of gold and credit.
then We shall soon plunge u coun
try Into the agony u "a deadly clls'
struggle. which viii e.nbitter Ia
hearts OF men for generations e
come.
Professor Fisher believes that III
TRANQUILITY Of oUr relations with GU
debtor nations, that the peaceiu
transactions between WaEe-eurnc
and employer, saiaried man and no
~ iakeT. depend upon establishing m
purchasing power Of our "shiftinl
aDllar," which he declares IS respon
sible FOR colossal social wrongs"
Before Introducing his plan Pro
fcssor Fisher states fiatly that IN
cause OF high prices, as he puts u
the great outstanding d.sturher o
the price level II money. lie de
MES that there IN any great searcit.
OF food or labor. n declares tina
INDUSTRY has slowed down hecaus
the price level II so uncertain.
Illustrating the unttirness OF Tn
high cast Of living aud the low pur
chasing power OF the collar. irofes
sor Fisher says.
"Conyider n working girl who pti
800 In the avlng bank In 1878. TO
DAY. u she has allowed IL to RENAL
and accumulate Interest. she ha
$40. But when "A tries 10 spen
the aigN she finds hat things cos
utarly double what they did In isll
After Eve years Of seif-denial wher
IL her reward. her INTEREST," She hn
been cheated out OF her Interest an
much. even. OF her principal throuEI
the depreciation 81 the dollars !
terms 81 which her savings bank ac
count has been kept.
Trust funds. phllanthropic four
dntlons, hospitals and endowed un.
verHitlCs IKE Yale have really lost "a
most half their value during h wa
for their funds were Invested ]
bonds.
'sThe real culprlt Is the dollar. III
. real remedy d. 20 fix the purchasin
power Of the dollar.
we tolerate our dollar only be
cause the havoc IL plays N laid
other agencies. ~ Its victims kne
I the truth about the dollar u wou.
be put IN q strnightiRckei at the vei
next session OF congress.
what can be done about u?
far as the past is concerned. compa
. ativeiy little. Bygonts must large
be hygunes. So far ~ wage and "a
] aries are concerned the remedy mu
o to raise them rather Than 20 low
2 rr the hiEh cost 81 living. Wht
some kinds OF work have had exec
slge wages during the war. this ~
. not been trus In general. public OPT
ion Of me country uOtwlihstandln
quite agree with Mr.. GOmpcrH IN
the wage level should not be lower
if could. On the contrary II shuu
be raised to catch up with price
= lust as was done after the c.yil va
y We would best use the past ~ a le