The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-01-06
STABLE DOLLAR An
j ISSUE II 1920 RACE
Prof. Fisher Of Yale, in
Washington With
Plan

WASHINGTON. y. CA new
e4mnaIrn nHaInH ihn hlah col Of
lIfInH. which Innf ~ caffite into The
1898 rampalHn IN me ISSUE Of rr-
tfeanirsa ~ PROT irving Fisher u
vale. ponurAi ecencmist ~ %uttrnp-
ffoi flahtr "a IN washington with
tlf drnff al d bill designed 70 atnhll-
tfe tAn value. fna purchaaiuE pcvcr
81 the dollar Once that b done. he
aals ne prpbiem % deaiine with
Prof. Fiahff dcts not eepert early
favorable action ~ cunrreee. how
ever. 10 anticipates n lonE and
hnfd-forFht fight before hIs plan
which ~ says NJ has spent years m
evolving frura ire merely ucadem,c
20 u ptacilcAhlo Uqrf1nE hasis-is
adopted. Dat Adopted d mual BE-. Ia
20 elimlnafc the lninEiIccs aud hard
ships taat nov result M y dollar to-
day buying 0nls haif % the same
nfiicle h would buy in 1913.
To Support his firht and carry u
Into the ccmlng cnmralen. " need
be-. Prof. Fisher b. organising a
stable MONEY ieaaus.- IA the rlnks
81 which be hopes 10 enlist every man
and woman who HaHg 10 know what
the dollar they are SAVING today are
going 20 b. worth next year. lie
opened hts campniEu ~ Washington
with an appeal a. mcmters Of The
National Popular 0oVernmrnt league
10 SCI IN on the ground floor In The
fight foe q stable dollar.
Seuator Ovens. president Of that
league and former chairman Of The
efiaf committee on banning and
currency. one Of the authora % the
federal reserve act. IA understood 10
have eiyfn approval 10 Prof Fisher's
new bill and - be ready to sponsor
d IN the senate. secretary Of Treas
ury GLASS. who goes into the senate
Jan. ]. has also gone over the propo-
siiion ard j. declared 70 have stycn
~ approval.
Urder the plan proposed by Prof,
Fisher, tho index number OF an gen
eral commodities entering into tho
coSt Of living would be taken. as OF
some fixed date. for computing the
vaiuc % the dollar. ~ the index num-
Der Of today were accepted as come
pared with the basis Of 1918 prices
from when co1t-of. living increases
are nov figured, Il would be ise. and
the gold dollar resulting would be
almost double the weight of the gold
dollar Of today, In other words. the
acfpal purchasing power Of a new
dollar would be f1.f2 AZ compared
with the present doilaSs. II would
have the same purchasing power rs
the gold dollar % 1913. on which
preecnt index figures are based.
From month 10 month. or year 10
year, an the index number OF COM
modify values naetuates In terms OF
geld, h weight ~ the dollar would
vary correspondence and lis value
remain constant
a Yard was originally the glrth
Of n chieflRin OF a tribe" say Prof.
Fisher Suppose "a yard OF meas
luement had not been standardized
that Il a instead. the girth OF the
president OF the United States. How
would the buyer come cut who CON
tracted for yardaEc goods under
President Taft's administration and
received deliveries afief Wilson be-
came PRESIDENT Yet the deprcc.a-
ton OF the yArdstick between the
Taft and Wilson administrations
would be no more Than the deprc-
citation q the dollar between 1895
ana today. The depreciation OF the
dollar ~ just a. DISASTROUS a. y cor
responding change in any unit used
IN comnserca.