Show PRINTING r P PRESS I IS TO BLAME J RHe C. C L L Inflation of Worlds World's Held Cause b byr FJ Financier r. r i By Floyd Pid MacGriff I International o al News Service Staff f f Correspondent ONDON May 11 Lord iL-Lord Lord DAber on f t. t most niost respected and c conservative financiers declares Prices l cs' cs will wm not fall fah In natural course courso their their- levels soon to war pre r just as asas as production Is Increased to to its to-its its old levels s Prices es will will not fall tall to their old levels levels lev lev- els as soon as the nations nation's debt is consolidated The exchange rates will not return to their old parities as soon as f ee commerce Is resumed between the different different different dif dif- ferent co countries of ot the world and nd each c country's production JIM has ac regained Its normal proportions The general level of prices and the cost of living g will vilI not fall t. t to tie old pr war pro war ler leyel l' l as as' soon as freights are aro again normal Accumulation of gold In the Bank Dank Dankof of England or or orl the of France will vill not restore the former exchange rate values DEFLATION DEFLATION O ONLY LY CURE All AJI these dl diagnoses are false fale he maintained Not until the world has I I deflated Its paper r curr currency cy which h has s I I been Increased six fold will any headway headway headway head head- way be made tow toward rd reducing the cost of living and getting things back to their old revels levels ral Take all five proposals which have hava been Jeen advanced by many leading business bus busi ness men meu and get them adopted D. In toto or In ir any combination and there still would be no solution in hi th that t pressing problem the mountIng mounting mount mount- In ing cost of living Ii Lord D'Abernon says But But carry out those thoe proposals li i-i C conjunction with reducing printing printing- pr press ss money and there will be an immediate drop iJ n prices he Insists UNWILLING TO FACE TRUTH Tho The paper currency of tho the world Lord D'Abernon explains having been Increased six fold since 1914 and h having increased infinitely more In some som countries Russia Austria German Ger- Ger man France Franice than in others has I I violently disturbed prices prices- exchange and cost of living For some unexplained reason the governments of the world appear un unwilling unwilling un- un willing to meet In conference conference- on the subject or even to have It examined within their own borders with the pu publicity impartiality and authority required They are aro Inclined to take refuge in the tho false diagnosis ls and in ig t the th e empirIcal empirical em era- treatment of symptoms In Instead instead instead in- in stead of r recognizing that ono factor Is dominant namely dominant namely currency currency and and that in tie the reform and control of f that factor lies the only remedy WHY ENGLAND FARES BETTER Compared with other European belligerents England has been fairly wise vise and moderate moderate- In this process of watering the currency We taxed more we borrow borrowed d more we printed l less ss The result is that compared with France Franco and Italy our level of prices Is lower and our exchange Is better Compared with Germany Austria Austria Austria Aus Aus- tria and Russia our currency position Is Incomparably superior In each count country y the prices have risen In proportion to the amount of water put Into th the Individual cur cur- rency As to the high of ot living f It t Is not so much much- that commodities and andry services ry ces' ces which l have risen in price as s it is the value valle of ot mo money ey which has fallen Diminution of oC production is a relatively unimportant factor com compared corn corn- o n. n pared with the currency dilution PART OF PROFITEER Taking prices as a whole t i Is doubtful whether profiteering has added 5 5 per cent to the tile level evel of prices ruling today and It t is dou doubtful whether government control of comI commodities com corn makes males as much as as' 5 6 per percent cent difference in the he cost of Hying I I Not until l the various nations nations' take the water out of oC their currency will currency will i t the e cost of living go down I |