Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-11-14

a
81. 50 a ton. The actual net cost of coal
should be about $1O.OO-which it
would be under the Edison plan. But
TODAY 1t actually costs about S14-a
ton. the difference being created by
interest. storage charges and specu-
lative profit.
Goal should be stored says Edison
"in concrete reservoirs sunk in the
ground. 1000 feet long, so feet wide,
II feet deep and kept under water,
Bituminous coal deteriorates III air)
The mine owners could then give their
men steady employment and produce
cheaply. Supplies to all would be
certain and price variations less. The
storage charges would be trifiing, and,
best of all, the mine companies would
get one half of the value of the coal
in unit money without interest, 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 1t and borrow money for
operation he has to pay an exorbitant
rate of interest Nine times out Of
ten he must sell his product when it
is in marketable form. 1t is ordinar
ily bought by a. speculator held in
warehouses for higher prices, and may
be sold back and forth n dozen times
at q. profit each time before 1t 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 storage
charge and without paying any inter-
est whenever. FTe could live on the
so per cent money that the govern
ment advances him and could sell the
crop whenever he thought the market
was right, but must sell q percentage
each month.
There would necessarily be certain
amount Of speculation, but II would be
in the hands of the farmer, the acutal
producer of the material, and not In
the hands of a nom productive trader
who is watching the board in some
brokerage office. Price fluctuations
would be gradually, reduced as forced
sales by the producer would be prac-
tically 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'
1t is of interest to note that when
Edison first began to work out this
problem he said: ut 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 every
one believes that all is well. They are
taken out and their contents distribut-
ed and everyone believes that all is
wrong. 81
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 shut
tle-cock business being kept up be-
cause no ore comes out with plan to
stop such childish actions.
1T is an absurdity, but everybody
has been educated to believe that this
absurdity 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 o. such a system.
what is COLDS real usefulness? 1t
makes pretty jewelry and picture
frames, and is used effectively for fill
ing teeth. Otherwise it is almost a
4 wholly useless substance. Yet, we
hold it the standard of all values"
All that is necessary to put the Edi-
son plan into operation is a govern
ment ruling which would name the
standard prices over the % year per-
iod, 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 all basic
industries. 1t would mean all-year
employment for the majority of our
workers who now suffer from season.
al trends. And it would in large
measure reduce the high cost of living.
While the Babson experts are still
studying it's ultimate effects, the plan
offers much for the average citizen to
| think about.
THE JORDAN RIVER