Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-06-02
HOW DOES 1T Proposal to Tax Gold in Industry
on-,,- ,yo.1o Would Mean UndeserUed
SlflhE lOU. Hdndout TO GodM
BIZ KELLAMY

THE whole world Is suffering from
l. initiation, one phase of which is
bad distribution Of gold.
We have too much gold in this coun-
try and too big structure OF paper
built upon it.
Commercial credits have Increased
SIC. .OOO, 600, 900 in year.
Abroad there is too little gold and
big structure of paper resting on no
foundation.
The Bank of France couldn't spare
100 gold louis to make medal Tor
President Wilson.
The Federal Reserve Board is trying
to get rid Of the immense extension OF
credit in the United States, which mas
sent prices up to where people Will no
longer buy.
In this situation some one proposes
70 tax heavily the use of gold in INDUS
try and the arts and pay big subsidy
70 gold producers in order to increase
further the bases of credit.
The gold producers are hit hard by
the his6 cost of living; little harder
than any one else.
And they want the government 10
help them out. L,u,
No one else who is hit by the hlgh
cost of living can get national SUP
sidy. ,,.h,u.
husbands have not had their Saiaries
raised cannot obtain aid from Wash
ington. ,,, ;,o.sa
Their interesting scheme Is tnat tne
nublic shall tax itself to provide the
basis for further expansion OF cred't
and a further jump in prices.
q q q
COUNTRIES, like individuals, are
~ lucky or unlucky. g..
Greece was lucky when IL S'roVe 10
se People were still reading tho classics
| at that time.
Ereeing Greece meant freeing the
country Of Homer, Plato, Socrates and
Aristophanes. .,.
THE whole world was sympathetic.
poland, long unlucky. was lucky when
the chance to be free came.
Erance wanted buffer state be-
tween Germany and Russia:
Of the mowers that partitioncd Po-
,o,d Austria was gone, Russia was
demorslized and Germany at least badly
''ipnId ppnIand has powerful friends, to whom
che is indispensable, and weakened foes.
Armenia is unlucky.
Her allies, as she says sadly ar"'tar
away. ,.,,,,o,,.ohio J..
nobody. :, f.
the same time she did and all claim
charity. ,,. -,
Lacking an allied mahnel"; Ar
mania = hest chance Is to cast in her lot
,ni,b tho Rolsheviks and Turkish Ma.
tionalists, and trust that luck VIII be
with them. ,..,
AGAINST them. and unless she goes with
them she will be destroyed.
q q q
u,uE cleyerest fnancier in Washing
i ton saws that an increase in rail-
road rates will lower, not raise, the
cost Of living.
Low costs in this country have been
built upop efficient transportation.
The present disorganized railroad
soryice causes delay and uncertainties
Delays and uncertainties shove NJ
II goods are long in transit credit
granted upon them has to be extended
This swells the volume Of credit anC
promotes imitation.
II is one of the big causes of thu
$40 900, 900, 900 jump in credits in th'
Suppose the railroads were only hal
nc eficient as they are today.
Many people would be without neces
sites.
higher prices for what they were still
able to procure -.
Reverse the supposition, get good
Aowing as they used to before mistaken
government regulation starved the rail
roads and reduced their efficiency anC
there would be improvement.
q q a
DEsIDEs, higher rates might reverse
ID some of the silly practices Of dis
tribution which have grown up in tn,
past. ...
suburb near New York,