The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1922-11-30

huge SmOunCS, just Wnen needed by
the farmers. This automatically
selves the banking problems which
now arise at peak demand, for
currency expansion and contraction
OF unit money can never do harm.
There is not any illusion in it. It
can't stay out because they must
have the unit money to get their
cotton or wheat out.
Again, these commodities are
quick llquidatOrs. The certificates
can be sold on the Exchange by
telephone.
in books on the history of
banking, find for eight centuries
it's the same old story-'Suspen-
sion Of Special Payments This
need never take place in an agri-
cultural country. There are q
number of administrative details
such as, if the stored material is
not removed within the time allot-
ted the same will be sold at pub
lie auction. The equity after stor-
age charges is placed to the credit
of the owner as shown on the du-
plicate certificate.
The warehouses are to be built
gradually over a period of years
by money received from taxation.
The warehousing charges include
depreciation and per cent interest
on the cost of warehouse and hand
ling machinery"
In the light of current events
the working of Edison's plan in
regard to coal is interesting,
A coal producer would mine a
ton of coal. This he hauls to the
nearest government coal reservoir.
The government gives him a GER
tificate for one ton Of coal and
pays him half of its value, on
the 25-year average basis, in cash.
This enables the producer to mine
coal every day the year round,
practically financing his operation
on the money the Government
turns over to him every day.
Now, buyer wants 100 tons of
hard coal. He purchases certifi-
Gates for 100 tons on the open mar
ket at the prevailing price which
has been determined by supply
and demand, turns these certifi-
Gates into the Government with
the amount Of unit money that has
been advanced on them and the
Government delivers 100 tons of
hard coal for him from the near
est reservoir. He in turn, delivers
this to your house, adding a re-
asonable charge to his cost for
shipping and handling.
The result, in general would be
this: A ton of hard coal today costs
$3.50 at the mine-a cost which
would be reduced by the steady
operation allowed under the Edison
plan. The average freight charge
is about $3.50 a ton. The actual
net cost of coal should be about
$40. OO-which it would be under
the Edison plan. But today it
actually costs about $14 ton,
the difference being created by in
terest, storage charges and specul-
ators profits.
Goal should be stored" says
Edison, in concrete reservoirs
sunk in the ground 1000 feet long,
80 feet wide, II feet deep and kept
under water, (Bituminous coal de-
teriorates in airy The mine own
ers could give their men steady
employment and produce cheaply.
Supplies to all woul be certain
and price variations less. The
storage charges would be trifling
and best of all the mine companies
would get one half Of the value Of
the coal in unit money without in
terest, to help carry the COAL"
The Edison plan would be of
great assistance to the farmer. At
present the farmer sells his
wheat because he must have money
to live on. If he tries to hold it.
and borrow money for operation he
has to pay an exhorbitant rate Of
interest. Nine times out of ten
he must sell his product when it
is in marketable form. It is
ordinarily bought by Spectator
held in warehouses for higher
prices, and may be sold back and
forth dozen times at profit each
time before it finally reaches the
hand Of the manufactures who