Mohave County miner and our mineral wealth., 1922-11-17

tr1eS CO ilOlQ IL ana DOrTOW money TOT 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 ordinar- fly bought by a speculator, held in warehouses for higher prices, and may be sold back and forth a dozen times at profit each time before it finally reaches the hand of the manufacturer who must use it. 'Edison's plan would enable the farmer to hold his crop by paying a small warehouse or stor- age charge and without paying any interest whatever. He could live on the 50% money that the government advances him and could sell the crop whenever he thought the market was right, but must sell percentage each month.
 There would necessarily be a cer- tain amount of speculation, but it would be in the hands of the farmer, the actual producer of the material, and not in the hands of non-pro- ductive trader who is watching the board in some brokerage office. Price fluctuations would be gradually re- duced as forced sales by the producer would be practically eliminated. As net result, the farmer would get more money for his crop and the miller would pay less for his wheat than they do today.
 Gold Standard An "Absurdity"
 It is of interest to note that when Edison first began to work out this problem he said: "It seems absurd to me that all our values should be based on boxes of metal in the Treasury. They are put into vaults, the vaults are locked, and immediately everyone believes that all is well. They are taken out and their contents distrib- uted and everyone believes that all is wrong.
 Sometimes a ton or so of the gold which has been locked up in the Treas ury vaults is put on a steamer and sent to Europe, immediately re-ship- ped back to New York and business stability is brought to pass, this shuttle-cock business being kept up because no one comes out with plan to stop such childish actions.
 Ut is an absurdity, but everyone has been educated to believe that this ahsurdity is common sense-serious and not to be controverted. Every body believes because everybody has been educated to believe that values can be established and held stable only by the creation and maintenance of a standard based on the so-called precious metals. In reality, civiliza- tion. has become too complicated for the continuance~of such a system.
 What is gold's real usefulness? It makes pretty jeweiry and picture frames, and is used effectively for filling teeth. Otherwise it is almost a wholly useless substance. Yet, we hold it the standard of all Values"
 All that is necessary to put the Edison plan into operation is a gov ernment ruling which would name the standard prices over the 25 year period, for all basic commodities and set up the necessary machinery to receive and store the commodities. Whatever its defects, it would greatly simplify and stabilize the operation of ali sasic industries. It would mean all-year employmen. for the majority of our workers who now suffer from seasonal trends. And 1t would in large measure reduce the high cost of living.
 While the Babson experts are still studying its ultimate effects, the plan offe~s much for the average citizen to think about. ..fa