Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-11-11
shipment. The unit money you notice
1. a. ali -

shipment. The unit money you notice
IL common to all articles.
"The unit money cannot fiuctuate.
The capacity or possibility OF fluctua-
ton il entirely transferred to the GER
tifcate which is subject 20 the prices
due to supply and demand.
1T Is not necessary for the govern
ment to pass any laws legal tender
or otherwise with unit money.
This unit money together with gold
for paying foreign balances might well
be the basis OF our currency. The
business OF the world is rapidly in
creasing; in a few years single COM
modify like gold will not be sufficient.
IF it we're not for the war we should
not have probably moro than 40eo of
our currency backed by gold and even
that subject to being partly taken
away from liz. We should have behind
every paper dollar commodities of the
warehouse type. including gold worth
more than one dollar on forced salee
"As most of our business In done
with credit money which is also based
with credit money which Is also based
to be no reason why tho present Re-
serve Bank and system should be dis
turbed. The commodity or unit money
could be made the legal reserve in
stead of gold alone.
Taxes TO Build Warehouses.
you note that unit money Is re-
deemed and again paid out probably
every fifteen months. When wheat
and cotton comes into warehouses
unit money is issued In huge amounts
just when needed by the farmers
This automatically solves the banking
problems which now arise at peak de-
mand, for currency expansion and
do harm. There Is not any illusior
in it. II can't stay out because they
must have the unit money to get Their
Gotten or wheat out.
Again, these commodities are quick
liquidators. The certificates can b,
sold on the Exchange by telephone.
I'm books on the history of banking
| ind for eight centuries it's the sam,
old story-'Suspenslon of Specie Pay
ments.' This need never take plac,
| in an agricultural country. There ar
number If administrative details
such as. II the stored material la no
removed within the time allotted tn
same will be cold at public auction
The equity after etorage charges I
| placed to the credit of the owner n
shown on the duplicate certificate.
THE warehouses are to be bull
gradually over a period of years b,
money received from taxation. TIL
warehousing charges include deprecla
ton and so interest on the cost O
warehouse and handling machinery.
Knocking the Bottom Ont OF Coal
Prices.
In the light of current events. tn
working Of Edsons plan in regard {
coal is interesting.
A coal producer would mine a TO
Of coal. This he hauls 10 the nearet
government coal reservoir. The Govern
! ment gives him a certificate for on
ton of coal and pays him half OF Il
value, on the 25-year-average bash
in cash. This enables the produce
10 mine coal every day the year roun,
practically financing his operation o
the money the Government turns owe
| AZ MN every Gay.
Now, buyer wants 100 ton, OF ha,.
coal. He purchases certificates 70
100 tons on the open market at tn
| prevailing price which has been d,
termined by supply and demand, turr
these certificates into tho Governmer
with the amount OF unit money thu
has been advanced on them and Ii
Government delivers 100 tons of har
coal to him from the nearest reese
voir. He in turn. delivers this to YOU
house, adding a reasonable charge [
his cost for shipping and handling.
| The Spectator Squelched.
The result, in general. would /
this: A ton of hard coal today cos;
about $3.50 at the mine---a cost whic
would be reduced by the steady opera
ton allowed under the Edison pla,
The average freight charge is abol
$3.50 a ton. The actual net cost
coal should be about 10.00--which
would be under the Edison plan. Ri
today it actually costs about s14-
ton, the difference being created +
: interest, storage charges and speculs
tive profit.
Goa should be stored" says Ediso,
''in concrete reservoirs sunk in IN
/.