The Filer record. (Filer, Idaho) 1919-1930, 1923-10-18
Expert Shows How Commodity
Money Would Make Worse the
Evils II Aims to Correct.
MEANS SPECIAL FAv0Rs
AND ADDITIONAL TAXES
Would Open Way for goiltiesI Med
ding Win Business and compiL
cate the Conduct o. Trade
and Finance


The weaknesses OF the Edison Ford
commodity money scheme to abolish
The gold standard and do away with
monslafy instability. Interest charges
and speculation In farm products are
exposed b. William r, Foster. Dirsc'
l0s Of the Poliack Foundation for
Economic Research. In an article In
the Proceedings Of the Academy OF
Political Sclence. lie shows that the
only result OF the plan would be TO
skgravats the evils II aims TO cure
There IL presented herewith the nrst
Of a series Of articles. prepared BY the
American Bankers Association. 70
viewing Mr.. Fosters argument
The plan provides, Mr.. Foster en-
plains. for government built. swnsd
and controlled warehouses. TO which
producers might BRING basic eommodi.
tics raised on American soil. on which
they wish 10 borrow money. A GOV.
eminent agent would grade the pro
duesrs goods and hand him two
pieces OF psper--s mortgage esrtin-
cate aud an equity esrtineats
Tho Ealsen-Fors Plan
The mortgage certificate could be
exchanged al any national bank for
Federal Reserve notes up to 10 per
cent OF the 2vsrsxs value Of the goods
for the previous twentysys years. In
this way the producer would obtain .
loan Of money Without incurrias any
expense for the use Of the noasy and
he would s,ill own the goods.
ILLS equity certificate 10 his svt
dsnes Of ownership" Mr.. Foster says.
"Hs may keep Il. sell II or present II
At bank Is security for . ieas. lie
or anyone 10 whsm he sells Il cas- pro
seat Il at sny time within . year. to-
xsthsr With the enact amount Of .oa-
sr that has been loaned. sad receive
the goods
III the goods are net removed with.
Ia one year the Oovsrnmest must sell |
them and thus got back the nsssy u |
has leaned. This 10 TO prevent an 40
emulation Of goods and 10 make sure
that the messy will be ssifcanceiisg
A seos a. the farmer repAys the
loan or the Gsversmsat sells the
goods an amount Of msssy 10 -
s,ssyss equal to the saouHt that was
advanced TAis. IL ali essentials. lie
II. Edissa com msaity asasy piss
More rssss
-Most men viii DO Impressed BY The
set that Il Involves additional taxss.
additional corps Of Political sppsint
,ss Aad a vast sxfsasiss Of sesera.
neat costrei ever Industry. II the
Ipsci.i privilege Of esrre~ias mea
y ~igheut lntsrest 10 really . soon
ma is granted eaiy 70 certain sreups
4 producers. th= Hat 10 BE- ehanGss
rom time 10 time. ssm-ss=- =ast AZ
ias whs are 10 be the favored
roups. ana whether that somebody 10
'oaxress or FEDERAL warehouse dirse-
ore shs are subject 70 partisss A.
.ointmsnt ana renewal. the question
rho Il to receive tree neasy VIII IN.
oabisdly reasls II peiities and win
scurrsasiy become Of great msnsst
. election day approaches
Mr.. rdissn contsnds that HE eom-
leaitr dollars win be ssunaer than
ola dollars because there Ia the
arsseus~ lies the actual wealth. the
'iats ~s eat and scar and must Goa
ims 10 tive Al nrst, he s4ys. enly
fss basic commodities are to DO &C.
.ptsa. sarh a. xrsin. eettos. ~eoi.
60. lexames. fats. nxs ssa tobacco
articles. he ~srns us
M act - satisfactory Ter thls par,
,s@
n. thsn. a warehouse fall II sesse
raarantses tie soeaaness 81 the
siss issaed against n they sast bs
'aesmaels IN tobacco. rhsr are. In
e.. Federal Tobacco nolss TIE plss
asi gfesia. Ia itks mzsosr Tor Fee
81 Fisx natss ssS - 90. furtssr
ere. ikers resls have 70 ss 40 masy
Esreat kiaas 81 tobacco sstss a.
sre ress grades 81 tobacco. Every
" -ss usss mossy IL ssehsnss
sal4 pxst 10 have ct ssss the latest
sfket saotstiors "a ali srssaets &C
PIED Tor stefsxr. g tasy approached
markst ssias tss sstsslisses iess
Ifas. ts order 70 sstinsfs ths relative
,isss 81 sissrsrt kiads 81 xoilars III
sss css sssss
-rrsrrtedv .eala have 10 esservs
.refuiir whssssr As had Grade
|spef~a hrrriax aosss o. oraas x
"a Cod rotrs n tkers -xs q strfAs
bitamineas zeal sia.fs be veeis
ard sisnniseas ce&i sesss II there
10 q sismp n cetton he vesis try 10
I "a Of Cettea sef~s
~censi4sf. es The osker hss6. the
q plfcisy sna esaniseness Of a geld
esr~d dollar Al ths voria kne~s
sei.~ir whst - nsssst By The coz
rtlbliify % paper certificate tate
IA An me ucsid accepts tbs gold
sxraasxs. rs value 10 kae~s In
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