Evening star., 1943-10-17

Largely, ne SalO, because ne mas 10
idea who will have the final say on world
monetary matters after the war, he re-
fuses to predict actual establishment Of
new gold economy. But he urges 1t.
Look at gold" he exclaimed, sitting
an imaginary pinch of yellow dust be-
tween his thumb and forefnger. ut
can't be destroyed. It's pretty. And
it's wanted by every one"
"Savages in Africa priced 1t long be-
fore the white man began buying and
stealing 1t from them. Indians priced
1t before the white man came to Amer
lea. 1t has q tradition OF value, stable
value, dating back to prehistoric days.
There may be metals that would be
even more satisfactory for backing up
based on gold has the confidence Of
everybody We know 1t is sound In
a gold economy we know that dollar
or a pound sterling will buy so much
gold, and we know that that much gold
will buy so much bread"
Judge Haussermann advocates selling
the United States huge gold surplus,
now stored at Fort Knox, KY, to the
rest of the world after the war as a
means of restoring international trade.
| Sell it on the easiest possible terms"
he said. Spread payment over a hun
dred years If necessary That's a short
| time in the life of nation. The gold
would give them the wherewithal to
buy the things they need, both from us
| and from each other
Everybody wants to do business, no
matter what kind OF government he
| lives under. And trying to do that with
out gold as a medium of exchange Is
like trying to run an automobile without
| OIL
If we sell the gold back to the world,
these people will do business in the
most efficient manner They will make
money, and out Of their profits they can
pay us back slowly and at the same
time raise their standard of living"
Confident Of Return.
Judge Haussermann has little infor-
nation about the present condition Of
| his properties in the Baguio hills Of
| Luzon, not far from Manila but he be-
| lieves they can be put into operation
soon after reconquest.
The Japs are not working the mines
as far as know" he said. They have
access to plenty of other gold and I
understand they shipped most of the
equipment to Japan.
They can't flood the mines and IL
| they adopt scorched-earth policy when
we move them out, about all they can do
is dynamite the shafts. Then We'll have
to dig. 1t will be starting from scratch
| again, but we've got reserves enough
to do it,
Raising the standard of living is an
cid, old goal of Judge Haussermann
Time and again, in speeches, he ha,
preached it, not only for its own sake
| but as basic necessity for democracy
and peace.
| In an Interview two years ago he said
! when the war is over and we begin
working toward stability again, We ought
to try to teach the world that its saliva
ton is not in destructive competition
with US for markets, but in each country
working toward raising its own standard
! or living to the level of ours.
For instance, suppose a piano car
be made here for $780, and the same
quality piano made in Germany would
cost 500 here. Even the most patriotic
American would find himself savins
5000. But this would throw American
piano makers out of work and lower the
American standard of living without Co
ing thing to raise the standard in Ger.
many.
Nov, in that case We should have 8
tariff of 5000 to protect our own piano
industry. But that is not the end. WI
should encourage the German piano
makers to raise wages for their worker.
until their piano costs $500 to produce
and sell here.
No Need for Tariff.
Then there would be no need for 4
tariff. The two products would be com.
peting on even terms But in Germany
the piano makers would be gettins
higher wages and spending them, max.
ing more business for other German in.
dustries. The more business, the NOR.
profits. the higher the wages generally
and, gradually, over period of years
the German standard of living would
rise to our own
Thus there would be free movement
OF goods without trade barriers, people
everywhere would be living fuller lives
and the world would be pulling itself out
OF chaos into stability of lasting kind. ;
AS applied to the Filipinos, Judge
Haussermann always saw their nation
and its rising standard of living creatin
a great seed of democracy. He watched
Japanese expansion and knew 1t to be
opposed to everything the United State,
valued in the Far East. With an ad.
mitted share of self-interest, he plugged
increasingly for adequate attention tt
the Philippines, which he regarded a,
the greatest of all the Nations posses.
sions.
ut Is inevitable" he said in 1910
that the islands shall be the focal poin,
OF political as well as social and trad.
development in the Orient during tn,
next decades.
Forget that the islands are and will
be markets for products. Consider frs,
and for long while the essential neces.
sity OF making sure that the futur,
course of the Philippine nation will b.
along lines that stand for peace. true
and sound development, and economi,
prosperity Prosperity is named last
Tor 1t ever follows all other work, includ-
ing those many efforts which at first