Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-01-04
STABLE DOLLAR
LOOMING ISSUE
FOR 1920 RACE
By HARRY ~. HUNT.

WASHINGTON. ID. G., Jan. g.
new campaign against the high
'ost Of living. which may be- carried
nto the 1920 campaign on the issue
II u revision Of our money system, IN
heirh organized by liof. Irving
Nishcr Of Vale. political economist
= International rcpute.
Prof Fisher Is In Washington
With the draft ot bill designed 20
iabiliz" the value. the purchasing
,ower Of the dollar. Once that Ia
zone. he says. the problem OF deal
ng with the high cost Of living will
70 solved.
Prof. Fisher docs not expect early
adorable action by Congress. how
yer. he anticipates Il long and hard
ought fight before his plan which
20 SAYS he has spent years In evolv-
ne from the merely academic Ia
PRACTICAL working basis-is adopted.
nut adopted II must be, In the long
-un. he contends. u We are To elm
nate the iniuFticcs and harlshlps
hat now result IN a dollar today buy
me- only hall OF the same article II
would buy In 1919.
To support his fight ana carry u
n'n ~" coming campqien. " need be,
prof. Fisher Is organizing stable
icney League" In the ranks ~
hitch ho hOres To enlist every mnn
M Woman who want 20 know what
he dollars they ara saving today are
"ine tn be- worth next year ". open.
4 his cimpnien In Washington with
n anpeal 20 membes ~ the National
'oiular Government League 20 ret
n on the ground floor In the fight
nr a stable dollar.
Senator Owen. president Of that
aague'nnd former chairman Of the
;enatc Committee on Banking and
currency. one OF the authors OF the
FEDERAL reserve act. Is understood 10
ave given approval to Prof. Fishers
'ew bill and 10 be ready 10 sponsor
In the Senate. Secretary of Trea-
nry Glass. who goes into the Senate
IAN. /. has also gone over the pro-
'osition and is declared to have given
approval.
Under the plan proposed by Prof
Fisher. the index number OF all
General commodities entering into
he cost of living would be taken. as
" some fixed date. for computing
he value OF the dollar. n the index
lumber Of today were accepted. an
omnared with the basis OF 1914
rlces from which cost-of-liying in.
reases are now figured. II would he
a2. and the gold dollar resulting
rouli he almost double the weight
: the gold dollar OF today In other
rords. the actual purchasing mower
= the new dollar would he 81 30 as
ompared with the present dollar. II
would have the same purchasing
uower ~ the Vold dollar of 1918. on
wh'ch present index figures are
sased
From month ~ month or vear 10
f,ar 10 tho index number 81 com.
WHi''v vnlncr f'uciuafes N ie-rns ~
sni. mo weight ~ the dollar would
vary eor-rsnond'nely and It's value
'erain constant.
~ yard was originally the glrth
4 q chief;ain 81 a tribe" says Prof.
FISHER Suppose our yard OF meas
irement had not been standardized
that II was. instead. the zirth o.
Ne presiden, Of the United STATES.
low would the buyer come out who
ontacted for yardage goods under
PRESIDENT Taft's administration and
'eoelyed deliveries after Wilson be-
"ame president Yet the deprecia-
lion OF the yardsiIck between the
taft and Wilson administrations
rOuld he no more than the deprccia-
ion OF the dollar between 1886 aud
today The depreciation Of the dollar
lust as DISASTROUS rs a correspond
Inc change in ANY unit used IN com
mcrce.'
Daily NaWa Wanf Ada ia. naauita