. Electric railway journal . s that many things, like the fixed street carfare, the wages of government employees and thesalaried man in general, did not increase as the pur-chasing power of money decreased. He declared that80 per cent of the unrest of the country is due tothe depreciated value of money^ The populism agitationback about 1890 was due to the appreciation of moneywhich was forcing the farmers who had mortgagesagainst their farms into bankruptcy, and that it haddisappeared as soon as money began to change itsupward trend. To-day the opposite condition existsand Prof. Fisher prophe
. Electric railway journal . s that many things, like the fixed street carfare, the wages of government employees and thesalaried man in general, did not increase as the pur-chasing power of money decreased. He declared that80 per cent of the unrest of the country is due tothe depreciated value of money^ The populism agitationback about 1890 was due to the appreciation of moneywhich was forcing the farmers who had mortgagesagainst their farms into bankruptcy, and that it haddisappeared as soon as money began to change itsupward trend. To-day the opposite condition existsand Prof. Fisher prophesied that the bolshevism move-ment, which is the outcome of a long period of risingprices, will disappear in a similar manner with thestabilization of money. Speaking of the proper rate of return on capital in-vested in the street railway business, he said that if6 per cent was a fair rate of return before the war,12 per cent is the equivalent fair rate of return other words, if a capitalization of $100,000,000 was. William C. and Zenas AV. Bliss, not brothers, but both RhodeIslanders and closely associated for many years. William iscbaiiman of the Rhode Island Commission and as such has afinger on what Zenas does as receiver for the Rhode IslandCompany. Zenas is also chairman of the State Tax Board, sohe must have to be Dr. Jeck\ l and Mr. Hyde in handling the taxof the R. I. Co. Photo bv Harris & Ewing, Washington, D. C. earning 6 per cent before the war, or $fi,000,000, thissame rate of return at the present time was producingsix million little dollars which was equivalent to onlythree million big dollars, or 3 per cent. He alsopointed out that if the 5-cent fare was right in 1896,rhen the equivalent fare to-day would be 1-5 cents; orif 5 cents is a fair fare to-day, then in 1896, twocents would have been a fair rate, assuming that laborand material have trebled as have prices of Grenville S. MacFarland of Boston directed his tes-timony principally t
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