The Bismarck Tribune Newspaper, January 11, 1928, Page 3

WEDNESDAY, JANUARY 11, 1998 BETTER TIMES IN STORE FOR ‘AVERAGE MAW Prof. Irving Fisher Finds ,$1100 Is Annuall Pay For Half of U.S. 8 BY RODNEY DUTCHER Washington, Jan. 11—The major- ity of the American le are not aide a: few. sages Cy 188 prOsbicts adds a few more Pros on and 1928 skould be no excep- ion. This assertion is made by Pro- fessor Irving Fisher of Yale, often regarded as the nation’s outstandi Political economist. Because one-half the incomes of the population amount to $1,100 a year or less, Professor Fisher »ro- tests fos) sweeping claims that our people ure prosperous as a whole. is judged'by standards set up by such agencies as the United States Bureau of Labor Statistics, he says, the majority of them are ey Poor. Only a small fraction of the in- come cl he points out, will ever be put ‘o the test of prosperity, against which President Coolidge recently warned, More than 99 per cent of incomes are less than $9,000 @ year. Prosperous in Comparison “But the most important point,” says Professor Fisher, “is that our people are prosperous when com- pared with the peoples of other na- tions. From that standpoint, we are getting along very well. “We come nearer than <nyone else to the standards of income and liv- ing set up by the Lebor Burea And we are making more and mot headway. “Thus, although it is not fair to ‘say thi of us are in this sense prosperous, it is a fact thet more of us are becomir.g prosperous each yei In an exclusive interview, Profes- sor Fisher admitted that probably a little more unemployment existed than was generally realized, byt ex. ressed the belief that 1928 would at least as satisfactory a year from the standpoint of business and industry as was 1927. One of the ways by which a cycle of depression begins, of course, is| 9. by a combination of unemployment, lowered. purchasing power and de- creasing price- levels, Price levels have not been quite stable in the last two years, Profes- sor Fisher agrees, and hence em- Sa dont enes has somewhat decreased. ut any dangerous repetition of the so-called business cycle has been headed off for the present, he be- eves, because the sti nh end of this ear found the price level nearer to abilization with an improved em- toyment situation. The reason: “We have had, roughly speaking,’ stable ‘purchating powcr of the ‘ar, which tends toward stability prosperity,” explains Professor er. { am rather optimistic about 233. a Much Like Last Year “T shouldh’t expect it to be much 2 prosperous than 1927, but I 5 see why it should be much less sTous. ¢ seems to me that the fall of es already has stopped and that, anything, we .are going in the or direction, “rhe Federal Reserve system, hich is now preventing any great .ilaiion or det ee is the bulwark of_gur prosperity.” Roos have been kicking ‘around Washington of an impending col- ‘apse in the stock market. Of that he lity, Professor Fisher said: “The fundamental causes affect- cel the technical situation, to have a oan aa ie »Betback, but not one of any danger. . Our foreign trade is an im t item to: our economic well-being, Professor Fisher delieves, but not as important to us as it is to other na- tions. Europe, he says, would be much better off if she would eliminate her tariff barriers on the continent— and it would also help if in this country we would reduce Father John’s Medicine Over- comes Weakness and Builds: Up Flesh and Strength - Too often little lives are Bacrificed or | to The of school SO frail sys- tems, ogg precious lives are isced necdessly of Marian Parker. Hicki divorced from young Edward's mother in 1917, and has seen his son only twice since then. ports because our exports must be equalled by imports.” Fs “Isn't it about time for prices to drift back tcward war !:vels?” I asked Professor Fisher. “No,” he replied. “If we want to avoid trouble we had better stick to the price level we Lave now Price levels suddenly droppec in 1920 and 1921; we had a serious period of de- pression in 1921 ‘anc 1922. If that movement had taken the pri-e level all the way back to pre-war, conse- quences to our industries and our workers might have been ap)alling.” DE [NEWS BRIEFS | Lous F. Post, editor, canal and former assistant secretary of | X labor, dies at hington. Coroner’s jury decides that West | 3 Frankfort, Il, mine explosion, in ele “ts men lost their lives, was ental, Ten patrol boats and two air- lanes arrive at Fort Lauderdale, la., as advance contingent of} coast guard mobilization to dry up |% rum leaks, Federal trade commission says ; that one pound loaf of bread cost United States family 8.55 cents over three-year apace of which farmer received 1.15 cents, and bak- er 5.11 cents. New York—Fifty-two Boy Scouts | % of Eagle Scout rank in the United States were awarded $100 scholar- ships from Harmon Foundation scout scholarship award. They in- cluded: George Platt, Fargo; Blair Flegal, Valley City, ani Arthur Platt, Fargo. Emmetaburg, Iowa—Sentences of | 10 years in state reformatory were ‘iven Julius Speener and Ernest | % 'allace of Waseca, Minn., when leaded guilty to stealing | ¥ they z goods from garage at Lone Rock. A GOOD THING TO KNow—|% REMEMBER IT whe awake at night with rheumatic pains, I now sleep it id @ good night’ should suffer backache, rheu: pees sleep disturbing mamey aa : adder ailments, when Fo! ; ic m “ had and diuretic be so easil; 80 all's coat Adke., ose Be ene FA ot pyres WEN a Nee SOG SS GSS ows eww oer eee. $ 4 Margaret Odell (“the Canary”) EVER before was there a crime so completely baffling, so contradictory, so in- genious, so unique, as the murder of the beautiful Margaret Odell, whom men called the “Canary” and loved to the-point of madness. . . . THE “CANARY” MURDER CASE, by S. S. Van Dine, is the most remarkable mystery story a newspaper ever offered its public. The murder of Margaret Odell will defy your every effort at a solution until the story’s thrilling end. Prepare yourself for the reading treat of a lifetime. : is A IT STARTS MONDAY. JANUARY I6th in > he Bismarck Trib