The Seattle Star Newspaper, February 3, 1922, Page 17

f u Al “for identical articles, often in identi Attorney General Daugherty hopes) General Daugherty believes some i IDAY, FEBRUARY 8, 1922. TO. BENEFIT fame ROM PROBE Daugherty Wants to Learn| Why Producers’ Loss | Isn’t- Handed Down | BY LEO R. SACK WASHINGTON, D. Cc. Feb. 3.—| Why the great difference between What the producer r es and What the consumer pays? Why the great difference in price communities? | ese are some of the questions! to answer in the nation-wide probe ef food, fuel and clothing prices! Just getting under way, Under the Daugherty plan not only will the federal government take action, but also the state au- thorities, To coordinate prosecu tions against the profiteers, likewixe the collection of evidence, Daugh- y has requested attorney gem erais of the 48 states, federal and state, to assist him. RETAILERS MAY BE PROSECUTED If retailers are to diame, elther & result of individual greed or thru the action of pricefixing a» sociations, Daugherty says prosecu- tions will be instituted. He has in-| Structed William J. Burns, boss de fective for the government, to get the facts ‘The new year opens with no signs ef reduction in the cost of living. Secretary of Agriculture Wallace, in a statement, predicts that better days are ahead for the farmer, but | he refused to predict whether there! would be @ lowering in costs for consumer. No other responsi-| official makes such a prediction. | ‘The department of labor which| tab on cost of tiving figures | some during department has just survey of December 15 nounced yet, but ft is expected they ‘will show comparatively little ‘With farm prices lower than tn many years, with the memory of the lowest price cotton and ‘woo! | erops of many years still with pro- ducers, with labor costs tumbling, | with European imports again reach ing American markets, Attorney ig is radically wrong doen not get the! ~ consumer of these “Why not? He hopes to answer. This picture, taken at the time of the election of Pope Benedict in 1914, gives a definite idea of the ceremo- nies that will attend the alec- tion of his successor. As soon as he is chosen a proclamation is read to the multitude gath- ered before the Vatican and the new pope makes his first appearance on the balcony. ‘Campfire News, Notes and Gossip The scribes will meet Saturday, | February 4, at headquarters, 4171 Arcade building. A big turnout is }looked for and a very tnteresting/ meeting has been planned eee ‘The senior guardians will hold their regular monthly meeting Thure ' day evening, February 9, at head- quarters, 4171 Arcade building. Miss} conditions,” he| Brown will give a detailed report of group on Queen Anne bill. the conference which she and Miss) THE SEATTLE STAR UMERS (Pore vote) Economists Disagree on Muscle Shoals Practical, Says One; Absurd, Say Others government finance | . LYON Professor of Bee . School of Commercial Organization, Univer sity of Chicago. | UNIVERSITY OF CHICAGO, Chl cago, Feb. 3.--Hlonry Ford's scheme | current and immediate lability by Oixed anseta. This grows out of the fact that |ereenbacks may be assumed to be payable of demand, while obviously public works are not aswets that can be “cashed [n" immediately In theory this situation is always considered a bad one, since supponed. ly an immediate demand for liquide Yon of such liabilities could not’ be met. In practice, however, It might well be worked, in fact, often in worked. The whole theory of Ford's pro posal does not seem to be very dif. ferent from that which is Behind all banking. ‘The plan could, no doubt, be put into effect if the government acts as |intermediary, and takes the position jof a general guarantor of the green: back, and also of a fiscal agent to see that the liabilities are constantly shifted, and thus refunded as they are called. As « matter of fact, the “public works” s@ securities would be of only secondary importance, uninss the amount of the issue became extreme. ly large. ‘The plan should have no direct ef fect upon the banking system, unless the greenbacks were made legal for reserve by the federal reserve bank, | in ich event there would be, in time of industrial expansion, a new possibility of bank credit inflation, At a time like the present, how: over, when the bafiks have no trouble in providing funda, there should be/ ho such effect. If such a plan as this were uned to | promote public works that would not | otherwise be built, it would have a tendency to increase purchasing | power in the hands of consumers, | and thun lead to buying, which should | stimulate business, and result in more bank loans and an Increasing price level. If we assume that these public) works are to be built in any cane, thin plap of Henry Ford's might | make it Possible to do the work with | out taxation. port of Campfire work tn other cities | will also be given. ee | Queen Anne groups, numbering 22. [will hold their community council | jfire Wednesday evening, Februar 15, at 7:20, in the basement of the Queen Anne Congregational church, at Queen Ante ave. and Galer st ' ee The following changes are taking place in the personnel of our groups: Mrs. John Nash is taking over the guardianship of the Tatohekiya Mies the Florence McComb ts taking 7 Word has aroused attention of the eennemic world by his proposal Jederal vee latwoneto are given Jappears to be « proposal to secure | group. all federal public Improvements by The present praction tx te ‘The Star hae waked give its readers their jow—one favernble to BY DR. W. A. SCOTT Director of Commerce Department, Uuntversity of Wisconsin (in an Interview With N. BA. Service) RSITY OF WISCONSIN, » Wis, Feb, 3—There in no sense in Henry Ford's plan of issuing Kroenbacks secured by public proper ty Instead of bonds to pay for public works ‘There ts absolutely no use In at- tempting to answer hia plan, for on ite face it shows him to be as im norant of money and banking and the function of a standard of value as & new-born babe. There is no merit in the idea, and it has the same time worn disadvantages as fiat money. Ford thinks he can make a unit of | power at Muncie Shoals the mame as & unit of gold, That i» Impossible on the face of it, If you insue credit currency, the figures on the face of it must mean something. Our credit currency t redeemable in so much! gold. How could we have credit currency | redeemable in #0 many units of power at Mascle Stroals? The very proposal | of such a plan shows that Ford in| absolutely ignorant of the first prin” ciples of the functions and uses of a standard of value. To point out all the defects tn Ford's proposed plan I would use a/ full newspaper page, but the’plan | so utterly worthless it doesn't even merit a criticism, Salvation Army | Corps Head to Go, Adjutant Fred Anderson, who has been in charge of Salvation Army corps No. 4 for nearly a year, will leave February 12 to take up special work of the Salvation army in Calh fornia, A farewell social is to be held at 711 Olive st Saturday wt Pinster, Mra. 8 A. Pickens i» the new guardian of the Onaway group. Mra, Harbough has taken Mrs. Hart's Mins Helen Impecoven is combining her group with the Quaghi group, whose former guardian was Miss Florence Turner, Mrs, J. Joone has taken Miss Helen Clarke's group in the Coe school, Mra. 8 M. Merry- |hew in taking over part of the for mer Suni group. Mise Martaret Ruef has taken the group formerly under Miss Ruth Anderson, Mra, H. F. Wilson is taking a new group at the First Methodist church. Mins Alice Knowles is taking @ new group jat the School for the Deaf. | eee ‘The funtor guardians wil meet ‘al headquarters Tuemlay, February 13, at4p.m. While in New York Mins | Browo had charge of the Blue Bird| part of the program and she is| bringing back many new ideas for | work with Blue Birde. Pompey collected 608 lions for » Bringloe have just attended. A re-| group formerly under Misa _Clotia single festival exhibit. OYS win a “Redi using. bit of lead, PAT OFffe They’re Just the Thing for Class Work Discard the old style wooden pencil and point.” It will save you many times the cost of the one you are now “Redipoint” is eager to match his writ- ing qualities and trouble-proof operation against that of other pencils. more ingenious. For he is not merely by squeezing down on the tip, but by gripping it securely at the other end and thrusting it forward or back at the will of the user. Give him a good, stiff workout and see how he out- points all the others. SUBSCRIPTION BLANK I hereby subscribe to The Star for two months, and t Just get two of your friends and neighbors who are not now having The Star deliv- ered to their homes, to subscribe. Have them sign the subscription blank printed below BY EDWIN RA, MeVicker Professor of omy, Columbia University COLUMBIA UNIVERSITY, New York, Feb, S—Ilenry Ford's plan reflects more eredit on his ingenuity than 09 his intelligence, But the in genulty Is an absurdly mistaken tn wenuity From time immemortal enthustasts who are utterly tgnorant of the na ture and consequences of fat money have advanced such schemes. ‘The “awignate” of the French rev olution, which brought France to the brink of ruin, were precisely similar to those now recommended by Mr. Ford -greenbacks secured by public property, A long history of pocial disaster jand government bankruptcy has con- clusively shown the illusory charac ter of such necurity, It is disheartening to find @ man of Mr. Ford's wealth advance ideas FARMER BLOC IS HARD HIT WASHINGTON, Feb. 3. — The Harding administration has been wuccensful to an unexpected degree in ite efforts to break up the power ful farm bloc in congress, This is admitted by farm bloc leaders them | nelven. | Dingusted by the undermining of the senate farm bloc, Henator Norris of Nebraska may resign as chairman of the senate agriculture committes If Norris resigns it will be in pro tewt, first, against the administra tion's efforts to destroy the biec, and second, against the action of some bloo members, who, tn Norri# opin jon, have weakened too easily under | administration pressure. Norris was deeply stirred by Senn | tor Kenyon's acceptance of « federal judgeship, which took from the farm boo it# official chairman and one of Norris declined to discumn today for | its strongest members. | publication what action he will take. | | which can be easily refuted by every | high school student of economica. TRY FRYE’S PIG PORK SAUSAGE 15C rv On Sale in Bulk Every Saturday and Wednesday Guaranteed Best and Cheapest Food Article on the Market For Sale at All of FRYE'S American Meat Co., 519 Third Avenue Ballard Meat Co., 5443 Ballard Avenue Bay City Meat Co., 1420 First Avenue Central Meat Co., 1420 First Avenue Olympic Meat Co., 1426 First Avenue Western Meat Co., 1102 Western Avenue Seattle Market, 109 Occidental Avenue Pure and Fresh MARKETS PAGE 17 He admitted, however, that reports ing, the leadership of the bloe may heard in senate corridors that he was|shortly devolve upon Benator Mo+ considering resigning the chairman: |Nary, Oregon, who probably would ship of the important sericulture become chairman of the agriculture committes were not without founda nmittes. McNary and Senator tion. »per, Kanaan, bloc members said, cated, it will not | would be the logical candidates for With Kenyon gone and Norris go | chairmanship of the bloc en Rich in Food Value Pure and Wholesome A Product of the Highest Quality, Especially Made for Table Use ~ All the Family Will Like Nucoa A. Magnano Company Exclusive Distributors Seattle-Tacoma AND GIRLS TOO! THESE DANDY PRIZES GIVEN FOR JUST A FEW MINUTES OF YOUR TIME HERE’S HOW No Money to Collect—No Money to Pay then bring to The Star office and take your choice of ANY PRIZE, All stibscriptions must be NEW—that is, people who are not now having The Star delivered to them, Here FREE! You Are Fellows. Just What You’ve Been Looking For. NOTE—Out-of-Town Subscriptions must be paid in advance at the rate of 50c per month He controls the slender You'll have the time of your life planning and then making the many different models hereafter until I order same discontinued, for which I agred to pay the carrier at the rate of 50c per month 1 AM NOT NOW HAVING THE STAR DELIVERED TO MB Namoe.... Addrens.. Phone No ‘Taken by.. Phone Main 0600 — Circulation Department — The Seattle Star PRACTIGAL ARCHITECTURE FoR! OY The Boy Makes His Own Cement Blocks Included in this wonder set is a complete supply of Cement and Moulds which it is possible to do with this dandy set THE RIGHT TOY FOR THE SMALL OR LARGE BOY DON’T DELAY—GET YOURS TODAY 1307-1311 Seventh Ave., Between Union and Uhiversity Sts. THE AEROPLAY Copyright Construction Blocks A Box of Joy for Girl or Boy | EROPLAY CONSTRUCTION BLOCKS afford both education and play for young and old. 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