Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-08
STABILIZED DOLLAR
IS AIM OF EXPERT
Prof. L. D. Eide Seeks Meth
cd of Holding Fixed
Value of Money.
BY JOHN r. SINCLAIR.



Special Dispatch to The Star.
/ NEW YORK, June 8---Just before
Prof, Lionel d. Edie of the University
of Chicago, sailed for Europe this week
/ TO continue his study of European cen
trail banks he said he looked with con-
! Germ upon the tendency of the general
/ level of prices to fall. Serious results
are bound to follow such development
! he believes.
/ Stabflizing of the price level is pri-
marily a monetary problem, says this
! expert, in contrast to Economist b NJ.
| Anderson of the Chase National Bank
! of New York. who has recently issued a
bulletin in which he holds that stabil-
! izing the price level; should rot be a
| junction of central banking policy.
DR.. Edie does not believe that the
central bank of any one country ran
absolutely stabilize the purchasing power
of money-that is. the general level of
prices-but he believes that all of the
central banks working together can do
a great deal in such a matter
Business. including agriculture and
labor must for its protection insist that
a solution be found, because with an I'M
stable dollar business is a gigantic
gamble, and business cannot continue
to permit archaic views of monetary
policy to dictate its destiny" DR.. Edie
contends
. The League of Nations has now
special committee studying the whole
problem of how TO steady the price
level. 1t can be made a very valuable
contribution to the problem of contin-
uous prosperity.
| The Tennessee strike among the cot
I tor sill mil hnc -
/ through the efforts of the Department
! OF Labor
The results seem to be of three kinds
! At Ellzabethton, Tenn. the workers
right to unionize is recognized, and bet
| ter working conditions have been Sc
| cured
At Gastonis. the more radical union
III control seems TO have been defeated,
and the settlement Is anything but sat
isfactory. 1t is likely to cause future
! trouble
! In the other sections of the South.
where men and women left the mills
against certain specific grievances but
! without strong leadership, move has
| been made towards collective action and
the recognition of the right of labor TO
| speak as unit.
! So more than 1000 workers Of the
! textile plants, nestled in the lonely Ten
nessee hill country, have gone back TO
! WORK
! But fathers working from dawn 10
. DUSK, 30 TO so hours a week, for pay
which averaged only SO to $12 per
Week-Women working all night for
even smaller pay-boys and girls lust
over Il years. laboring Il hours day
10 exc out miserable Sustenance viii
no longer be tolerated
The South Carolina legislative COM
mittee has expressed strong disapproval
| OF such conditions, and other States are
| following suit.
| The fact that labor there is often
cheap, plentiful ignorant and unor-
! gained should be a, challenge to Ameri-
3! can business against exploitation
! When the Actors Equity Association,
with Its 1O,500 active membership, an
nounced that casts of sound pictures in
! which Equity members take part must
| be all-Equity, it sent some cold cEills
| down the backs of several motion pic
| ttue producers. For it is the beginning.
| officially, of Equity in pictures.
| There is a definite reason why EQUITY
| has taken this stand. Nearly 20 per
| cent of its entire membership has gone
| TO California to appear in talkies. A
vote was taken by its membership 70.
! determine whether they should enter
the talking picture field The vote vas
Overwhelmingly in favor of Equity en-
tering a&
Equity does not maintain closed
shop 1t has no apprenticeship. ANY
player who wants to join may do So
But there are two basic principles that
Equity expects TO stand for in the
movies: First, the 48-hour week for ac-
tors and actresses, with an extra pay
for overtime. and, second, full pay dur
ing rehearsalS
The big motion picture producers
have not yet made an answer to this
important announcement of Equity
The final outcome however, will have
tar-reaching effects on the personnel OF
the movies
Copyright, 1929. by North American News
paper Alliance