The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1910-03-24
NO MYSTERY IN HIGH PRICES.

/ NO MYSTERY IN HIGH PRICES.
/ Hon. George E. Roberts. formeTl!
editor OF the Fort Douge Messenger {
later director OF tee mint, now a Dank- (
er in Chicago. said number OF things
/ worth knowing and considering IN an /
address at the recent annual banquet
| of the iowa Society of New York For
one thing. he declared that I
those who saw the settlement |
+ of Iowa, who know how the
population flowed in from all quar-
/ tiers OF the globe to occupy these Ter
tile lands; how these people, WITH
practically no capital but team OF /
horses and a pillow, were able to De-
come producers OF the food staples;
and remember how for a generation a
I pressure OF those conditions kept the
1 prices of farm products scarcely Alga
enough TO pay common wages TO the
4 farmer for his worh-to such people
there is no mystery or inspiration TO
rebellion in the rise OF prices.
I Mr. Roberts declared that It was
strange there should be any mystery
about it to anybody. He called atten-
ton to the fact that We have been
exploiting the natural resources OF
continent. Forests have been regard
ed as an incumbrance, timber and
coal have been without value, unless
fortunately located, and lands tie
same. That period has passed Where
fore:
Timber will have to be grown, fer
tility will have TO be restored to the
soil, and swamps must be drained ana
the arid places irrigated, and the poor
er soils brought into use. Raw ma
Eterials, instead of being had for the
taking, in the future must pay the
cost of production, and the mgher
costs for food and raw materials Will
appear and reappear in the costs oil
all the commodities of commerce.
& There is no escaping the fact that
we are in a new and weaker economic
position because of this change. Re-
adjustment is going on, but it does not
/ follow that food products will continue
to advance or even maintain their
] present level, for at present prices
the food production of this country
will be enormously increased
subject is characteristic. Instead OF
i regarding it as an economic problem,
t We are disputing over who is to blame,
: which leads me to say that TO my
!. mind the reform we need most of all
: in this country is to get out of the
: habit of thinking that somebody is
u responsible and to blame for every UNI
} satisfactory condition and every de
60 H., sal Inr hnf aT1r
II confuses every economic question
Y and occasion an appalling loss of ener
! gy in friction and cross purposes.
Mr.. Roberts mentioned one maste
:, principle upon which he laid grea
stress, to-wit: that population double
in this country about once in thirt,
= years and wealth doubles about one
;. in twenty years He declared that tn
:. fact that wealth increases faster tflal
:. population has never had adequat
! recognition, inasmuch as in it lies al
!. solute security to- the public agains
:. anything like a general combination c
: capital to control production.
= Emphasis was also put on the fac
- that practically the only employme7
- there is for capital is in the service c
= the. masses. The amount required
supply the wants of the rich IS insfs
nificant How many railways woul
IN be needed to furnish transportation
az the rich? How many factories coul
Ia run to supply the wants of the ric
fo alone? Mr. Roberts went on to say
ne 1T is the needs of the millions tia
In keep the wheels of business turnin;
he And then the rich don't bury the
lat money in the ground. Every capita
no ist wants his means invested wher
&. they will bring returns. and he mus
-, set about supplying some geGer;
~ wants, and at price the people ca
az az afford to pay. The buying power
- the average man is limited: he can
"a spend beyond his income, and if II
40 people were spending their income
s a., in 1909, how is it the new capital
~ coming upon the market in 1910 trio
~ ling In by million streams to fir
employment"