The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1920-05-14
DOLLAR ISN'T
WHAT IT WAS!
Attorney General PaImer's Bluff
About Decrease in H. c. L.
Is Called.
(By Paul Wallace Hanna.)

| 10Y raul Wallace 00HOA.(
Neutrality-suspicious. than II score Of
legal aides 10 tn" department Of JUS
tice have pooled their mental re
sources in an effort to evuHe q terrible
dilemma. For il Daniel has come t.
judgment. and Palmer must say III
court just when prices will fall and
the dollar recover IT'S normal value or
els" let tn" government in for q
WI,uckiny 10, of inflated DANA &c
claims.
1t is u simple story and 1t bears hi-
r"cily ON IN" troubles of every w%.,
Garner and lurll>rNifr. In lllr first
days of tt" war I'll" government cora
'n'n'l"rr"h for is urgent need certain
pieces "! lli,rll:lrry. the original '''>t
81: Wh.rh stood at ,;n,l,' $7N,nnl. The
nali"lnIl emergency having passed
II" private "W,:'r Of that machinery
l.;l$ presenter! !'u,''t San, with IL bin
for some $lIntHn.
Lawyer Knows Economics.
TIA" ;'irr!.|y -''u, raj insists, the or
i=:lHI Nil'!" uf T. HEi''htnrrN repre-
~"i:'" Il fair compensation 1n the pr!
'Hir nHn,r. Upon til:t: content ,"n I'll
his l"rLl >llAl".! was his"u Wh' II the
rH>r c;,lnr iii:n r'l"i. Mad .!1; STRAIT;
r-y las been wrr,'!,rd at he !ir~t ru-
counter. TO" to-. private owner had
rrt;'i,'d rs utilised :! l,!ruhcr az the
bar who rnu!,n"l legal Instruction
Wi:h Il k,r,"h,l-" It rcnnului,.~ Nl,u
IL his hrir; Ia '.r hrnnr;IhIr court Of
r!uinlS, n:.,hr> The follow in- r,rrrIci,.
ll';,il:
NlIiI th' machinery in question
r" "h''n nrW four years go l4i>
rrl'ug to 30 with III. ;,.nim t.,
which its private. uWu'r is justly on.
tilted TO how. Roughly. Il dollar is
worth only one nItl its yn,r in 1877.
And for ne N,Inr'~ less in buying
power The United States government
IS Wholly responsible.
Government Debaccd Dollar.
why: E"rnu~r the government in
stead OF tnNnE wealth in This genera
li"n 10 pay for til" war, deliberately
'Irr!drd that pn>trriiy shouI. bear the
financial burden. To pn>tprue the
war cost the government has re-
course to the printing press and
doubled the amount of paper money
in circulation. Since no new wealth
WAS cr"ntet or nmaSScd by the govern
ment to correspond with the new
money put in circulation, the buying
power Of every existing dollar was cut
very nearly In half.
Thus, continues the argument. the
%7O.WW which the government com
nnn,ierre,l from the citizen In 1917. 1t
now proposes I" replace with currency
which In buying power Is worth only
S5.tNN. This. the honorable court
will observe, would constitute an arbl-
trary. wilful and unjust act Of cunfis-
cation by the government.
Restore Value Of Dollar.
Continuing his original exposition.
the compartments attorney sets fOrti,
that II the attorney general desires t."
d" Justice he must b. guided by two
Palmer must either set
a date In the reasonably near future
when the American dollar will buy rs
much rs 1t did in 1917. or he must
intlOrse the cOmplninant's demand for
rs much money rs 1t now costs to re-
place the Communicated machinery.
t"-wit. $l4O,WN.
Despite his frequent assurance to
the public that the price Of all COM
IL about to fall to pre-wnr
levels. the attorney general is said to
feel that more than Il gesture from the
stump will he required to persuade
the court Of claims. The honorable
Judges and their families nre Obliged
I" r"npctr more or less In the open
market for sugar. flour and spring
suits. and II Is to such simple terms
that the attorney mentioned has re-
'iuced Il lawsuit for damaged ma
y. s. Lawyers Embarrassed.
For weeks past Palmer's aides have
been trying to devise some response
10 the machinery mans brief TINT will
t'vnde thu" problem In economies that
has been presented. For it Ii con-
coded thMt the issue cann,t h. met.
And there is some hard fcNing among
government lawyers that Il fellow
member II the bar should c,,n,plicate
III otherwise simple damage suit with
:, wholly insoluble question in eco
NnmicS.
\ recent address by Pnlm"rS' cost
nj living expert, Assistant Attorney
General k7gg. explains that 1.-THE gov
eminent officials realize they are
l"werle<S to reduce the coSt Of living
the assistance 1T every inter-
est in Industry" Describing what he
(and PHlner) regards Ms the six chief
rnusr> for high prices. Figg said:
"First Is the Increase In the volume
~ money and credits: second the
widespread Increase in wages: third,
'"ssened production; fourth. increase.
'ost Of distribution: nth. reckless tx
rravagNnce and spirit Of specula.
ton; sixth and least. 1sroiteering.
''Yet there IL Il tremendous amount
Of prohteerinE." F'igy c"nfcssrS. "Icx.
poet that You gentlemen. Retail Dry
Goods AsSociation) are all guilty II it.
I used t" think there were some ex-
ceptiOns, hut the farther we 90 into