Capital journal. (Salem, Or.) 1919-1980, 1922-11-16
Edison's Solution

Thomas A. Edison the inventor has outlined plan to
stabilize business lower living COSTS revoutionize modern
business methods squech the dishonest specuato reduce
the prices of coal and other commodities and furnish the
small producer ready capital by establishing the government
the nations great middleman and making common COM
modtes as well as gold the basis Of currency.
At the suggestion of Henry Ford and others, Edison
sometimes since devoted himself to study Of economic
dons and the Of economic unrest His solution has
been turned to economic and business experts for crit
icis1n and suggestion.
Briefly outlined Edisons plan is to have the government
list forty basic commodities such cotton corn cop
per- COAL wheat flax ron and then taking the prices Of
the last twenty years basis establish average price
for EACH This price he would have determined in terms of
gold and called unit dollar.
Edison would have the take establish
great warehouses and storage plants When the producer
is ready to market his product he brings to the agent at
the government warehouse who gives him certificate
erng his whole deposit and at the time pays him half
of the value of the deposit computed the 25year
average basis in cash The government then stores the
product.
When dealer wants wheat COAL cotton or any other
commodity he buys the producers certificate the market
he presents it at warehouse pays the back
the money advanced and takes the product away.
The governmentXed average price safeguards the pro-
ducer from the ravages Of dishonest speculation The half
value payment he receives from the affords him
ready capital The certificate he receives is put on the mar
ket subject to the ordinary of supply and demand But
the certificate does not depend the gold in Treasury
vaults but on the commodity in the warehouse.
Unit money the Edison plan is not money in the pop
ular conceptionthat is metal money with metal
practical basis for medium of exchange we'll
sure OF value has, according to Edison gone by Money
would still be determined in terms of gold But instead of
gold in treasury vaults being its only basis you would have
wheat in government bins coal in government pits rice in
storage cotton in the warehouses, etc.
1t is of interest to note that when Edison first began to
work out this problem he said
1T absurd to be
Immediately everyone believes @ that a is e e The
are taken out and their
that all is wrong.
Sometimes Of the up in
the treasury vaults is put Europe
rehipped back to New
out with plan to such childish actions
has become too complicated the a
what COLDS real useuness pretty ewery and
picture frames and is effectively filling
s wholly useless substance
of all vauesl"
All that IS necessary to put the Edison plan into opera
ton is government ruling which would the standard
prices over the 25 period for all basic commodities
and set up the necessary machinery to receive the
commodities Whatever it's defects it would greatly simp
fy and stabilize the employment for the majority of workers
VINO now suffer from seasonal trends And would in large
measure reduce the high cost of living
Edsons plan is worth studying for are in all prob
ablty to hear lot about it in the few years. One
thing certain gold has broken down as standard of
aue and world affairs in chaos in consequence Edison
offers substitute which will undoubtedly be champoned
Dy enry Ford in his presidential campaign and which is
e to receive serious consideration from the people be-
cause neither OF the old parties and none of their leaders,
mas presented any constructive plan for solving economic
problems