Changing Dollar
Plan to Stabilize
%
Money and Prices
w
Political Economists Present
Novel Suggestions for
Monetary Legislation
at Washington.
By (ifcORliE F. M THIER.
«»hln*t<Hi l nrrrazmniirnt The ilmilii Be*.
Washington, Dec. 24,—USpecIal.)—
The house committee on banking and
currency lias been listening to sug
gestions concerning monetary legisla
•ion which vmild have sent c«fld chills
down the^>acks of conservative mem
bers of both parties a few yegrs gao.
They coma from usch eminent
students of political economy ns Pro
fessor Irving T. Fisher of the chair
of political economy of Yale and
John L. Rogers. Professor of poli
tical economy at Cornell.
The suggestion involves adding to
and substracting from the gold con
tent of the dollar us » means
stabilizing prices and of currency*.
The chief testimony in support of
the bill introduced by Representative
(ioldstiorough, democrat, Maryland,
i nine from Professor Fisher who has
written *i book on the subject.
In effect. Professor Fisher says
variations In the costs of articles are
not caused by scarcity or over-supply,
but by appreciation or depriciatlon of
the dollar. The twin evils of our
present financial system, he says, are
inflation and deflation, usually used,
the one as an antidote to the other.
Tlie result, lie claims, is great social
was ip and tremendous losses. Just
now, lie foresees another venture Into
the realm of inflation as an antidote
for the postwar policy of deflation.
Three Kinds of Inflation.
In tlie United States, lie says, we
have three kinds of Inflation, paper,
gaW and credits. The first, paper,
is up result fcf the issuance of gov
~ --- --
ernmental obligation*. The gold in
flation he ascribes to the fact that
we have become the world respository
' of the preclou* metal. The credit
Inflation, a new phenomenon, he says,
la due to the custom which has pre
vailed of logfcms money by banks to
the government, entering only a book
account against the transaction. The
i deflation already indulged in, tie says,
I has caused hardship, hut the degree
• of inflation still existing is causing
! the high prices. *
“The need of our times." Frof. Fish
er told the committee, “is stabiliza
tion. But the Biers stopping of In
, flation is only part of the problem
in our monetary stability. Wo must
, stop deflation as well. Thesa two. In
I flation and deflation, are the twin
evils, and not. as many unthinkingly
assume, antidotes one for another.
“Deflation was wanted to do Jus
i lice to prewar creditors; and doubt
; less it did so to the few prewar cred
j itors still surviving. But it did in
j justice to the much larger number of
war and postwar debtors. We cer
| talnly have no right to choose our
standard to help the few and hurt the
[ many,”
Dwelling on the danger of ex
cessive reinflutlon. Frof. Fisher said;
Similar to 1896.
"In some respects the present situa
tion in the United States is beginning
to bear a rough resemblance to the
i situation In 1896, when Mr. Bryan
made his entry into politics as the
champion of inflation. In 1S96, when
Mr. Bryan came to the fore, prices
had been failing ever since the civil
war.
"Further neglect of our money
problem, resulting as it must, in fur
ther inflation or deflation, or both,
will bear more bitter fruit. It should
be an axiom of economic history that
monetary Instability leads straight to
class conflict. #
Explaining his solution. Prof. Fish
er said:
"A Mexican gold dollar weighs
about half as much as ourH and has
less purchasing power. Now. if Mex
ico should adopt the sums dollar that
we have and that Canada has, no one
would doubt that its purchasing pow-’
er would rise—that is, the price level
In Mexico would full. If the heavier
or the lighter the gold dollar the more
or the less will be its purchasing
Famous Jazz Orchestra to Play at Xmas Party for Children
*
These syncopatin' Jim halites make up the famous Earl Fuller orchestra, right from Rector's, New York, after a six years' engagement, which will tune up for fair when they step
on the stage at the World theater Wednesday and Thursday mornings for the hig Omaha Bee-World theater Christmas pprty to the youngsters of Omaha.
That handsome looking young gentleman trying to hide behind the drums is none other than the renowned Earl Fuller, himself. The charming miss standing in the renter of the group
Is Miss Julia Dawn, also from Rector's, who sings lilting melodies while the orchestra accompanies her.
power. It follows that if we arid a few
grains of gold to the dollar just fast
enough to compensate for the loss In
the purchasing power of each grain,
or vice versa, take away the gold to
compensate for a gain, we shall have
a fully 'compensated dollar,' a station
ary Instead of a fluctuating dollar,
when judged by its purchasing pow
er.” •
Prof. Fisher did not explain how
the gold was to be pinched out of
existing dollars from time to time,
nor how it would affect the stability
of tho American dollar abroad.
Bee Want Ads Bring Results.
City Officials Cheer
Christmas of Waifs
Mayor J. C. Dahlman, City Clerk
C. P. Bossie amt several of the city
commissioners visited the Creche.
Father Flanagan's Home, St. James
Orphanage and Masonic Homo for
Children yesterday morning, taking
Christmas cheer to hundreds of boys
and girls.
These children were unable to at
tend the municipal Christinas enter
tainment at the Auditorium Satur
_t...— r
day night, bo the city officials went
to them with bags of candy, nuts and
fruit.
The mayor spoke briefly to the lit
tle shutins at the Institutions visited.
The children cheered Mayor Jim. A
red-beaded youngster said ho hope4
to he would he able to vote for the
mayor some day.
Revelation Comes in Daily
Tasks, Pastor Tells Flock
'Taking for his text the story of the
shepherds watching their flocks by
night under Judean stare, and their
finding of the Master, Rev. Ralph:
Bailey In his Christmas sermon at the
First Unitarian church Sunday morn
ing declared that "men today find
their most illuminating spiritual ex
periences, their realest revelations,
incident to the performance of their
dally tasks, rather than by scholarly
quests.
"While each should he a. seeker
for truth in great books, by mental
effort, and by noting the doeils,
thoughts and discoveries of great
men, yet religious Inspiration is re
ceived in shop, field and market
place,” he added.
"Revolation comes With the work
of the day. The shepherds, watching,
saw the star of Bethlehem; the
farmer, plowing, linds God in nature;
the captain of industry nt his desk
sees the tolling multitudes as his
brothers; the artist, painting, works
his vlsiotl into his picture; the
preacher, preparing, tears up dead
manuscript and goes forth fired with
a message; th# housewife in the home
is filled with the great love of family;
Jhe precious gifts of God come with
the performance of daily duties in
every walk of life.”
Bee Want Ads Bring Results.
One Killed, Four
Aged Man Dies in Hospital at
Fairbury, INeb., From Hurls
Received When Car Strikes
Load of Corn.
Fairbury, Neb., Dec. 24 —(Special
Telegram.*—Paul Sandman, 65, wa.i
fatally injured and four young men
were hurt in an accident at 7 p. m.
Saturday on the Lincoln highway,
north of Jansen.
The Injured are Cecil McFarland.
Wesleyan student, wrenched neck
and other minor injuries; Percy llohr
Laugh, slate agricultural student,
light leg hurt and scratches; (Jor
don Jones, state agricultural student,
internal injuries; Lynn Grundy, shoul
der dislocated. The boys live In and
near Fairbury. .
Mr. Sandman was walking on the
left side of u wagonload of corn
which lie was bringing from Harbine,
Neb., to Fairbury. The ear in which
the boys were riding was unable to
pass the wagon on the right sldo of
the road and McFarlane. the driver of
the car. did not see the man beside
the load until too late. In the at
tempt to avoid striking him he turned
the car suddenly into the ditch, wreck
ing it.
It Is believed the ear struck the
rear wheel of the wagon and over
turned the vehicle on Mr. Sandman.
His head was crushed. He was taken
to a hospital at Fairbury where an
operation was performed. He died
at 11 o'clock Saturday night.
Mr. Sandman Is a pioneer of Jeffer
son county. lie hue extensive land
holdings here. He moved to Fairbury
from H.isbtne about seven years ago,
but had been keeping In touch with
his farm interests.
There are at the present time more
than 21,000 varieties of postage
stampa in circulation throughout the
world.
Great Annual After-Christmas
%. » *
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In Five Great Groups
Your Unrestricted Choice of
Men’s Suits
’2450 >3450
Our Entire Stock of
Overcoats
50 $1750
Sports models as well as conservative semi-fitting styles, two and
three-button and one and two-button, double-breasted.
Finished Worsteds
Cashmeres
Unfinished Worsteds
Cheviots
Gray, brown and navy blue in striped, checked and fancy mixtures.
4
' Burgo*»-Na*h Men'* Shop—Main Floor
Here’s news of a big event—happens once a year. Hundreds of
great warm winter overcoats, the usual Burgess-Nash quality, at a price
that undercuts the regular marking of these good coats by many dollars.
Tweeds
Vicunas
S he t lands
Herringbones
Ulster, ulsterette and Chesterfield models with self or velvet collar.
Burfess-Nash Men's Shop—Main Floor
All Our
Boys Overcoats
$8.75 to $12.75
When you are offered absolutely
every boy’s overcoat in our fine stock
at prices so unexpectedly reduced, it
is extravagance not to buy. Boys will
find them the kind of overcoats that
Dad wears; Dad will find them over
coats of the sort he wants his son to
wear. Every late material in every
new color, tailored with raglan shoul
der or plain set-in sleeve. Remark
able values!
Bur|es*-Na*h Bey*’ Shop—Main Floor
Entire Stock of Men’s
Fur Coats
This is an opportunity to purchase a fur coat
for the amount usually paid for one of cloth.
Included are black melton coats, muskrat lined
and collared with seal or beaver. Marmot fur
coats with quilted lining; the collar, cuffs and
pockets are beaver trimmed.
. .-____I
This sale does not include spring coats, tuxedos or full dress suits.
m «*
All Our
Boys’ Suits
$8.75 to $12.75
Well tailored of best materials, our
boys’ suits are always irreat values;
parents will not overlook the oppor
tunity to outfit their sons at this low
price. Norfolks and plainly styled
suits of tweed, homespun, flannel and
other serviceable woolens, with two
pairs of fully lined knickers. Prac
tically all colors; sizes 6 to 16.
Burf«fts-N«th Boys' Shop—Main Floor
Direct
Entrances
16th and 17th
Streets
on Harney
Sale Begins
9 A. M. Tuesday
Burgess-Nash Company
'EVERYBODY^ STORE"
