Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-04-30
Bankers and Economts
Meet and Discuss N&-
tons Ailment.
LIVING WRONGLY, A
ENCOURAGING WASl
One Speaker Advises Uceie em
Liquidate Ships and O(Rsd ~
inss and Pay on War De-
taken Policies Rssponsiu =
Financial imitation --Extrava66a~
Encourages by Acts Of Ofhelaha
BY Associated Press.

educators and economists OF
United States and Europe discusS
the action and causes OF initiation &
their remedies at the semi-annA
meeting OF the Academy OF Politf
Science. which opened here toAA
DR.. A. b. Anderson. Jr.. OF the ~
tional Bank of Commerce In ne
York. speaking this morning. dsola
ed that the shortage OF goods
attendant speculation 10 the CAUSE
present high prices In this country
"When our enormous export b
ance disappears and whom our ,oou
try is called to absorb Europod
goods. we shall see lower pE1ceA
declared. The speaker said inoroasd
production had. been expeotsd whe
the 100000 men withdrawn fcs ~
army and navy had returned y
that it had mot come sss.s
I'm 1919 we produced - leAse
per cent In physical units less tha
in 1916"
Two Mistaken Pellsles.
Two mistaken policies In war q
nancinS are responsible for inf1etio1
according to Prof. J. A. HollandoS
professor OF political economy
Johns Hopkins.
The first, he said. consisted In a
suing bonds at lower interest rateI
with tho aid Of cheap borrowing faI
cilities, 20 that bond buyers found
easy to obtain money to pay bond
rather than use bank deposits whit
they had already held"
The second and more importa9
way by which the treasury oonwlI
uted. to Initiation was the contid
practice Of borrowing from bAAlxl
certificates OF indebtedness.
Construction Is the great task c6pI
fronting this congress. the next oon|
gress and perhaps even the sixty
eighth congress. Senator Edge a..
clared at q luncheon meeting.
Extravaoanoe Encouraged.
The government OF the Unite4
States Is deadicc!ked against iteeis 81
q government OF obstruction, Assist
ant Secretary Ieffinwall. OF the
treasury. declared in = speech TO-DAY
before the academy. Failure OF the
government to deal In q construotivl
way with ony one of the vital na.
tional problems he attributed TO the
fact that the government II divided
against itself"
''For plain living and decent twins
we have substituted high living ant
wasting" he declared. The only tsm.
edy. he said. is for tho nation tb 81
together. stop pickering and rrcA tn
critical situation. which contr ranti
tho world as we woulc u toreExt
war;" III
Uncle Sam Must Llaa dass. "
Government expenditures uluAt
cut to the quick" he said. ard
must abjure promises and resAna'
promptly on-aii possible S.Ales Ia,
cluding ships, applying all TO thps ~
debt" He argued for . natonfxl bus
set with .sstsss an s 9,s.1.
tax laws.
"Instead Of telling the M,soi
frankly and boldly that price,
high because Of their wastins, " No
prices and encourage people t9Ro
more and pay less.
INSTEAD OF telling the youns3 q
who went to war to 10 to worl( E
save money as any self respsU =
man will do. we listen TO their org
lied demand for n bonus"
Nation Must Tighten lts Dslt.
The entire world must tighten Il
belt IL there is to be enough for On
and that belt ID strict, control
bank credit without which ths won
VIII continue to gorge ITSELF and
flate. declared Paul Warburg, ban1
or, discussing imitation, IT. caus{
and remedies. Vi
Summing up what ne termed IN
practitioners advice In the case n
said: IL
First We must liEnI inIIetoN -
arresting the further increaso ~ z
government Indebtedness ana u N
slble reducing It; second, BY cAalif
a halt In further bank credit ~
note issue e~aansion.'