| Show WHY wily THE HIGH PRICES 1 Prof Irving Fisher Fishel of Yale is out with a three three- column announcement advising the appointment 01 of a world wide commission to investigate the cause of pi the great increase in prices in the United States and aIRI Europe We Ye take it that Professor r F Fisher must for fm a long time ve ha-ve ve been a pupil of tf the the late Professor Sunnier Stunner of Yale Yak and that entertaining en en- t nf his vic Views ys lip j is lost when hen he contemplates plates the rise in prices for in order to destroy silver monc money the professor assumed assumed assum d and asserted that it was as a's imp impossible for tJi th the amount of or monc money on hand to canso any change in in prices Could his comm commission siou S iou be appointed they might reason from flom the f for thousand and le same standpoint l' l a years ears never reach a conclusion 1 The original t transactions of mankind with each other were through barter If a man could wash washout out ut lia say ay third one of an un ounce of gold from a stream and another man could run rUIl down and and kill killa a deer in a n day n and the thc man who had hal the venison wanted hUlled to exel exchange it for the gold that the thc other man man maD had the trade Wl was made on the amount of labor la- la a- a bor boi each ach had expended When the hunter had invented the how bow and arrow and could kill kin two leer doer in i a day then eni venison on ell 50 per cent in value the thc original miner invented a rocker and nd co could l save in iii it an nn ounce of gold old a a. da day then in a little while l by some mysterious process the thc price c of wheat t had cd for the thc full ounce would only purchase what the third of an ounce y had before tite the potent potent- properties of of- g gold l l and silver c fully understood ocl and tha that property in their concentrated form was easier carried than the thc property could be bc then man money C was invented But BLIt the thc old rule rille did not change the amount of labor performed in getting a n thing established its ils price when the herdsmen h of northern Greece I drove drove the their l' l cattle down to Corinth and sold them 1 to 0 Sisyphus or his descendants each piece of of the thc coin oin th they r r received in exchange w was s called an n ox smaller pipe pieces s were called sheep Shed et etc c. c When later still king kings and chiefs bc began to understand un un- 1 that with these pil pieces the they could in peace and war engage engage- m a e the thc services of or men for them and to took charge h of the coinage the ru rule e did id not change every ivry l' l piece picc was supposed ed to represent the value of f a i sheep or pr an ox or a clays clay's labor of or man And to thi this lay day money is called calle a measure oT or values values' which is but using in another form the theold theold theold old r rule rulo de that measured the days day's work of the thc man who taught the leer deer b by the work of the man who founds nd f thio ho gOlf gold So when gold is s scared scarce men will ivill and of other for give up more more mort property a certain of out rif it and when rhea gold i is pl plentiful l and th man who h h has s it w wants t tile the i f products of the earth in jil ex exchange han c he lie has t to gj give m more rc and nd more of the gold for fr what he hc gets and at such suh h times men say thc the price t nf nt products f is pelting getting to Iobe bo be awful In Tn other oilier words the volume of money when hen oth other r I things things' are equal exactly measures the prices of or commodities the values tho-values alues increasing as the volume increases anI and 1 dC decreases l' l n as Ul the volume d decreases ass S S Of or COUl course C the f of trusts and iid l combines is is an Ill In- In proposition We y Ve c speak only of the ori original rulo ns as s old ld n as the world but the thc trusts themselves work ork this same rule rulo b by keeping tim the visible supply of commodities apparently scarce scarce i. i c n as ns t the h price of coffee corree las has been increased b by byi i causin causing an au arbitrary Y reduction of tim tho apparent amount of c coffee on hand concealed and having c control 0 of it jt have havo arbitrarily advanced the thc price We in the thc United States have a certain amount of or- monc money per capita China Chinn las lias only oue one fifth of or that amount home food fond costs only o one fifth fifth as much money in China as fiR in iii the United States State t U it Uis itis i is an nn inviolable law which all un the tim J commissioners the ui-the world 1 could COUII not chan change c. c |
