The dispatch-news. [volume] (Lexington, S.C.) 1919-2001, 1922-05-17
THOMAS A. EDISON PREPARES
PiaAN FOR AFFORDING RE.
LIEF TO NECESSITIES OF
FARMERS.
States Troubles Due to Presen'
Banking System.

tainly gratifying TO nOte tnde eoe''
master minds Us Mr.. Edison real
ize the distressing conditions un-
der which the producers OF tns
nation are laboring. The interest
and endorsement of such man a.
Mr.. Edison, we feel certain, means
that relief will be forthcoming a.
an early date and that plan o.
agricultural credits will be pu'
through Congress which will resul'
in permanent prosperity to the 1ar-
mers and business interests Oh tht
entire country:
FROM THE LABORATORY
sTHOMAS A. EDISON,
"Orange, N. j., May S, 1922.
"Mr. J. S. Wannamaker,
'sSt. Matthews National hanh
Bldg, .-..-.':.
.'St. Matthews, S. c. :.
Dear Mr.. Wannamaker;
I have received your letters OF
April 2sth and May ,1st, and also
the volume of testimony taken oe-
fore the Joint Congressional Com
nnittee Of Agricultural inquiry: Fo1
several months past /. have oeen
making an exhaustive study se1
Money, Credits, Currency, etc.
realizing the tremendously i'm
portant, problems confronting the
Farmer, and therefore, the testl-
mony above mentioned has a great
interest for me-, E5Sam sendlns
down to Washington for the othel
volumes of. these proceedings ano
testimony as I would like to reao
the whole thing.
> my reading during the last re"
months has covered, a wide range OF
authorities and let me say that the
midnight oil has not been spaTeo:
Having formulated in my 1nlnc
some rudimentary ideas OF VIVA
seemed to me a way"out Of many
difficulties, I prepared question:
naire containing twenty-slx ques-
+ions and sent it around to num-
her of Bankers and Economists IN
yario,1s parts of the. country. A
number of answers were recelVeo'
INF they were largely contradictory:
and. nearly all entirely failed 10
comprehend the principal questloh'
after much further study l nave
2 formulated what seems TO be
practicable plan for affordlns re-
lief to the necessities of the farmer
and, altho Fl regard it as merely
spreliminary,s ] am gong TO nave q
few copies printed and send II 70
s.Bf Bankers, Economists, and others
s,u,hdY are usually thought to be au-
thorities on the subject, This Wiil
.ba ready in the near future anc
a1f sehah take pleasure in sending
you a copy for your eAarnlna s .ioh :
ard criticism. :.s.s.e.:1g
ssAs hsinfasssd above -sse
$. ,ssea ous5a plan for helping <tns<
fasmer in the futussees and also >2fiss, 2ifis,,
to make our currency stable.
y aWhiie " working out the plan J
ssolfected considerable data, ana
lind that during the period lsio- 10
1920, :the cotton farmer sofa M
cotton for exactly the same price,
in real money, in each year:
>Curiously, this data shows tnat ene
/? purchasing power of the dollar Is
-in proportion*to the raise IN 'iie
prSce of cotton :.
sWhen the farmer got 43 cents
for his cotton the dollar was worm
onn1v 4s cents. Today it is worth
60 cents, and Lora help the far-
nners if it goes to Is cents or ~
=. cents, uhiess<thev have a snort
crop and a big demand.
"The farmers everywhere. ano
not alone the farmers but all people
not knowing the laws OF money
naturally thought they were hlshV
:n,osnerous and on that basis con-
tracted debts. These debts were
contracted on low value money ana
viii have to BE paid in money OF
greater value -
s71..1 have not worked on plans for.
.7mnediatea relief, although now: !
wish had done so.s xHowever' no
plan is feasible that is unsouno AN
these troubles are due to our bank
ing system and the very poor super
vision over the actions: Of banks.
. Unless these, things are correcteo
these depressions will go on.
"Do you want me to work on,
; plan to help when cotton is p!ckeo ::
This would be done easily II thar
would do any good and Congress
would, I think, accept 1t ffom you
SHOULD you ever be visiting In
New York 1 should be glad II you
uonld come over and see me.
.vo,,rs very truly