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The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27
23--PERSONALS


ARTIST READS CHARACTER ar
assiYxihx ths facial fsstufws ~ tpu
hAFe eletufs you eHat ia send 60 -
anAif Hea Altho. wheu@vFF NeNeihle.
81 = best 20 arrange Tor personal tas
tsrvis~ Price 81 oa Andres HAsasn.
Noem Nc catisss uatst teth ana
ttth ave = y
wugKfNu NAN krEApifr EN
plt -. wtshss % m~st rpsnK iaaH -
wit0m nbfmet tnasrimauF Address
t~sa star
aEr MARRIED. nNaT MATRIMONIAL
paper ruhtishsG NAILED tree TIE
Correspondent rnieaa. @
Yot.Na wff,ow ngsinrr a POSITION
in home ~ etaeWss ~ harhsiar. object
usafrifaonf Nfafsss tsst star
I.AbiEs Ny nEaILAruN NEWER
falls Cali AZ tsst@ HfasasAy
WANTED r0U&s MAJ bs GOOD
appearances. sell eauezfsa desires "a
meet refined iadF - means ubisrt
business and marriage. u saises "A.
dress nos tit. seattle Vast
AyAlanHz u.se pows. tee WEEK
"xEX buys starssaf or wateh
~WV PETER MICHAEL ffas TEA
liberal credit nsmefsiins
f.spiEs- aASuEitaos g coTToS no0T
pills. safe aad sure cure fnF delayed
p@rtafs Price a. Money refunded ~
remedy fails after fair trial Raymond
Remedy. raaun q. Hotel Aatisrs. Fsufth
ara untor
lcoMnfwoH MADE fNTo SWITCHED
of anything desired - expert Surk~ra
I Mrs. Davis Capitol fs7s
I0ESTtEMAS it's a tte zee HOTEL ~
eouugtp toSn Waala like 70 sfs.i a
reftn~a lady. stir A. aas object smatfte
| SneuY Address f..9s star
tf.spfEs ~ xHoUnLE SAVE TINE AND
money ~ calling isgt@ nfaaawaY
! orr ACQUAINTED SOCIETY MEET.
log. Thursday ssenlues 1915 eighth
ave. kpt. =
1 5se COMPLETE hreakfAss Willard
cafe Seventh and rrian
LADIES REMEDfEa roHfrtvKLr
| gaarantssd safs and sars TERMS snis
all e2ssa isst isth ave. East Msdissn
1 - gDfsoW ruoNOrHArfa AND
1 nW Edison Record Repairing
pH0NDgHkfu SUPPLY HOUSE
NH 1875 wsstiaks. rhans nain stfs.
MHE LfSDQr-1 sT--TraI nsFss. West
/ ssTw
| 10 lessons. success guaranteed tet-ses
| rantssss ulds
LADIES great. successful remedy.
/ positively guaranteed. Madam Crane.
| iia9 iith ave.
KODAKEns--'IN AT !. AT s THEY'RE
1 done" 10 cents roIl Jacobs. f-f
/ Bidx
FFGTsTEHED MfDwiFE-Mna VII.
/ IslEs.u. 7ets 18Th y. w. Phone Raj
1 lard 1851
GoN MOI. CURES gENfro- URINARY
/ diseases Write for vital particulars
Il KAr.Rn Company. Tacoma Wash.
| NJ FAY CASH FoH FURNITURE IN
~eS ~ S,Ss s's'e Sesses~~~~~~.~~
Manicuring- Massaging
|lDOROTHY WILSON
massage Room -. Norris Hotel. iissH
Third ave.
miss MARION BATHS. MAS
ing. Room :. 1910 second ave
MAnFL MEAD AND JULIA roRn-
MaasagiuE and manicurinK tiosih
Third ave. Empress Hotel. room 500.
MASSAGE - aa,is. BATHS II. a., MAN. ~.
flee II. Green Hotel
DOLLY AYNE-1aA'.ss -, Asp !
Green Hotel. Fourth ard PIKE
lNfas THEfMA THoRNE. vapor baths
and massage 42o.sat Peoples Hank
BidE
MISS BURNS MAssAas, run
Elliott Hotel. first and pike open 10
10 40 D. m
24-Busincss Personals
FOX TROT s and o'h ,,I..., l9sasIo
Fifth and University Glass lessons
free. TO m only
MISS JEW MANfCURING. iti4is
Third, office 10.
MESH BAGS REPAIRED 4os rEO-
| Pies Bank Sid
! ~~1~-cS~-N~~~~NsN~4N <s~~rS~~~NN>N~
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27
s-For Sale-Miscellaneou

sAsB MD DOORS
Bold at factory prices. direct from our
mill We ship anybody. anywhere. and
guarantee ssfe delivery TO destination.
Our big. complete catalogue No. 81.
mailed free, post paid. postal card
Will bring one TO you. Note below a
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27
What
MIR.
MOxharra
Says:


just for room
y II lut " Ut emora Han a mont
p a
the SAT- % nca proposition orred
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27
Gard of Thanks.

WE WISH To ENrREsa oUR THANKS
and appreciation 10 our kind neighhots
and friends fer thsir love and ~
patty during the sickness aud death
81 eur beloved wife aud mother
ARrtttN SHERMAN.
EsrttnR suENMAN
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27

PHoSoaRArHs Our SPECIALITY
We trade. buy. rent repair,
Muslrai Record Exchange
fsts wesftake Elliott ssfs
CLEARING HOUSE
Fer Musical snxt rHfnents
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27
HOTELS AND
APARTMENTS

APA X i vi EN- .
STANDARD HOTEL
Corner First Ave. and pine ~
Large, modern. outside rooms. elevator
service; phones In aii rooms; first class
I'm every respect. soc Up. with private
hath. 81
INSPECTION CORDIALLY INVITED
hARTTSIQUE- EIGHTH AND UNION
Furnished Broom apartments. tzs 80
up. Rooms with or without private
bath. 1880 up Hotel service night
and day Main 1870
BarrfnRtou@ ISI9tb serond 81 week no
~~~~~~.~<@~~.~.~-~>~<~>~ -~>-~<.~IN~>~~-N~~
4--Furniturc Wanted.
Biskp Furn 70 as PIKE Main sE1e
~-~<-S~~~~~>~>~>~-~e>~-
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27
ADMINISTRATION

ERTIMATE or EXPENDITURES
FOR lsis-iT.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27

WORRY WHEN DE.
iayed or irregular Use Lady Eigin I'm.
periai Tablets by mail, 81 per box
double atrer 9Th. $50 Every box
guaranteed Crown Agency, 1891 Sixth
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1916-09-27
o-Wanted Miscellaneous

WANTED -VESKRiAL ptsEAan suFs
ferrr. 20 take aoN mol II cure.
rtanr~r Drug ca
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02

The report of the United States
Department of Agriculture on the
condition Of cotton as Of July 20
confirms the reports of crop damage.
There is forecast a crop of less than
10 million bales, whereas the condi-
ton a month ago indicated produc-
ton of 1414 million bales. This is a
natter of great interest to the cotton
trade and to planters and specula-
tors, but as there is a great plenty
OF cotton, actual and prospective,
even with a new crop Of only y
or 10 million bales, and as only a
a year and half ago it was thought
q great problem how to keep the
South from overproducing, one will
easily see that no calamity has hap
poned. Nor for the South is an
improvement of the cotton crop the
serious matter it once was, owing to
the diversifcation of agriculture
that now is practised increasingly.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02

TO per cent Rates arc affected by
the large balances Of Interior banks
available for investment away from
home in commercial paper. Chicago
has recently been n heavy buyer The
New York Federal Reserve Bank IN
it's monthly bulletin. commenting on
the rise since June in the line OF dis
count rates. says:
Commercial paper sold on June l
nj 3 TO 3i1 per cent. but is now to
AZ per cent. Call loans were made
on July 10 at per cent, the highest
rate at this time OF the year since
1907. The firm outlook in the com
mercial paper market caused some
borrowers to provide earlier than
usual for fall requirements
Official discount rates in each OF tho
twelve Federal Reserve districts are:
Maturity in days
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
Cause and Consequence.

Business obliges business. Cause
becomes consequence and conse-
ouence, cause, over and over. The
war customer gave certain lines a
tremendous impetus and everything
else went along. The proportion Of
business derived from the European
war is estimated by some bankers
as high as 25 per cent. That would
be to say that war business was a
quarter of the total business doing
in, say, the first half of this year.
1t was nowhere else so high. In
Cleveland it was not more than 10
per cent.
It would not last, of course. That
was the first thing everybody said.
The disposition was to make the
most of it while it lasted and at
the same time TO make ready for
tumble from that peak, one Of
compensatlng violence, II not an
ether aerial somersault, which
Heaven forbid!
Odd minor things happened. A
man who for years and years had
gained bare living from the hand
manufacture of mechanical TOYS
suddenly became an important cor
poration, employing $50 men, with
private exchange connecting all
branches"
Toward midyear war orders be-
gan to fall off slowly. In July, on
the completion of some large con-
tracts, new orders were not forth
coming at all. Whether the Allies
were producing so much more for
themselves that they actually re-
ouired less, or whether, having got
somewhat ahead, they could afford
to take time to higgle for lower
prices, was left for events to show.
Pittsburgh could afford to wait In
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
CO-PARTNERSHIP.

WE. THE WITHIN NAMED AND UN"
dersigned. hereby certify. pursuant 70
Section p Of the Partnership Law. ~
That the business OF the firm % Jas u.
Oliphant & Co. which has transacted bust
ness in New York State for more man
three years last past. Will continue 10 -
conducted henceforth by:
Name. Residence =
Alfred I. Norris Cedarhurst New forS
Floyd W Nundy. Montclsir. New Jersey
J Norris Oiphant Montclair, Ne~ jerseH
J. J. Bryant. Jr., Riverside, LIMOS
Frank /. Van VIE. Montclsir. New JerseS
the three persons FIRST above named ~
Ing heretofore been the partners OF sAe
Hrm. (g That we. the above named ns
persons. intend 10 deal henceforth undf
the partns ship and business name
JAS II. OLIPHANT & co..; 90 IhN
The prtncipal place OF business OF said frra
is. and Will be located IN the County ~
New York. WITNESS our hands ms ls,s
day OF July. 1915. signed Alfred l. NO,.
ris FLOYD " Mundy J. Norris OhphinS
John J. Bryant, Jr, Frank l. Van VI.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02

Silver.-Bars in London. 3Oh pence.
Bars in New York, Ga cents. Mexican
dollars. 4914 to SO. Wagel, in his bull
lion circular, says: The China situa-
ticn is very interesting, although it is
hard to predict what turn the market
will take. IL is well known that over
35,000000 ounces Of silver have been
shipped from China to India and Rus
STA, and the stocks Of the banks are
unusually low. Even these stocks are
not due to importations from else
where. but have been made up OF the
melting of the internal coinage. Since
the war started exports of silver, both
from England and the United States,
have been extremely poor. Once again
the country is being flooded with nom
convertible notes. and recently the
British managers of the Picking Muk-
den Railway have insisted on payment
in actual silver and not in the notes
of the Chinese banks. The government
finds itself unable TO take paper which
it has authorized, and the financial
situation is very chaotic. Holders Of
silver sold il in order TO profit from
higher prices. Nov. there seems TO be
no other course but TO save the situa-
tion by getting silver from outside"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
How England Will Pay.

From The London sta,s,.
In considering the money question II
Is. Of course. essential 10 recollect that
our trade balance must be settled IN
securities rather than in gold. and that
if we continue to buy large quantities
OF produce from the United States that
country must be willing to take pay
ment in securities, for it will be phys
ically impossible to send gold for the
purpose. According to the American
trade returns Just published the ex-
ports of the past year amounted 70 no
less than $4,000 900, while the I'M
ports were only s436,000,000, and there
was an excess Of G434 100000 OF exports
over imports. OF course this great bal
ance has already been settled, and the
matter that concerns the market IS now
great will be the balance in the current
twelve months. With the United states
consuming goods much more freely
than last year, with a smaller wheat
crop, and possibly with a lower range
OF prices it is doubtful II the balance
in the coming year will be as great as
last year. Nevertheless, 1t Will be
large, and il is evident that the Amer
lean people must take payment in Sc
curities if they are to sell their goods'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
English Estimate Puts To-
tai Casualties at
100000.
INTEREST ON DEBTS
REACHES HUGE SUM
Big Powers Face an Annual
Charge of Nearly
S75O,0O0,OO0.
BY FRANCIS w. HIRST.

lBy Nhble 70 lnr ifinHhN
London, August 1.-The second
anniversary of the war has arrived,
although many thought the groans
Of so many millions of sufferers or
the fears of the trembling govern
ments would have brought the con-
flict to an end long before this. In
the absence, however, Of any clear
lead from any quarter the struggle
goes on with increasing intensity
and growing casualties.
Recent guesses place the total
casualties in soldiers and civilians
killed in battle or dead from wounds,
famine and disease, and Of those
seriously wounded, at 100000.
The total war expenditure is prob
ably already over f15,000,000,000
sterling. Running over accounts
and estimates recently, | concluded
that if the war stopped this autumn,
and allowing sufficient sums for de-
mobilization, the new dead weight Of
the debts of Great Britain, Germany,
France and Russia would be from
s2,5O0,OOO,OOO to s3,00O,000,0OO each.
involving for interest perpetual
charge of from f120,000.000 to
f15O,OO0,OOO.
Including pensions, the new dead
weight expenditure of the German
Empire after peace would be about
equal to the whole expenditure be-
for the war. Yet strangely there is
still a small school Of financial
casuists who argue that Continental
Europe and Great Britain will not
feel any worse for the struggle, as
each nation has borrowed most of
its expenditure at home. One might
as well say that a mortgaged house
ia Just as valuable as an unmort-
gagged one, or that the important
question is whether the loan on the
mortgage comes from a fellow citl-
zen or from a foreigner.
The Stock Exchange reflects the
pessimistic view. Prices are again
on the decline, with gilt edged stocks
III a dropping condition.
The parliamentary position Of the
government has become critical since
the Irish Nationalist withdrew
their support. Devlin's speech last
night sounded like an open declara-
ton Of war on coalition.
The government subsidy to the
Anglo-Italian Finance Corporation
is bad precedent. 1t was objected
to in Parliament on the ground that
Italy had not declared war on Ger
many.
American criticism of the black
list is declared to be POLITICAL by
cur newspaper correspondents in the
United States.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
COTTON CONDITION
TAKES SHARP DROP
Governments Estimate Indicates
Yield of 12,916,00O Bales.

Washington, Aug. 1.-The Depart
ment Of Agriculture's report on the
cotton crop. as Of July %, issued to-
dav. placed the condition the lowest
with one exception, in twenty-five
wears. That was in 1909. The gov
ernment's figures estimated the condl-
ton Of the crop at 1873 per cent Of
normal, against 81 per cent on June
25 last, 75.4 per cent year ago 'o'4
per cent two years ago, and 7S.5 per
cent the average on July rs for the
last ten years.
The report was disappointing. A
condition Of 1928 on July 25 forecasts
a Weld per acre Of about 1884 pounds
and a total production, allowing l per
cent from planted area for abandon
ment. Of about 12,9l6,OOO bales: Last
years production was ll,l9l $50 bales;
two years ago, 16,134,93O bales; three
years ago, 14,156,4S6 bales, and four
years ago, 13,7O3,421 bales.
The report says, in part;
"The month ended July 20 has been
only fair for cotton in most OF the belt
west Of the Mississippi River and IN
Tennessee and unfavorable east OF the
RIVER and in Louisiana. Rains IN the
drouth-stricken Southern coastal re-
gion Of Texas permitted the planting
Of considerable late acreage. The
crop in the western belt is well culti-
waited and moisture conditions nave
been favorable, although the need for
rain is now beginn 6 TO be felt. East
Of the Mississippi a severe tropical
storm through portions OF florida'
Alabama and Mississippi early IN July
and an extremely Aeavy downpour at
mid-July in the Carolinas, together
with heavy and almost constant rains
during July throughout the entire
eastern belt, have put the crop badly
in the grass, leached out much OF the
already deficient amount Of fertilizer
and greatly facilitated the activity Of
the boil weevil, where present, and 1t
continued to spread. The rains at the
close Of the period in the eastern belt
were preventing much needed cultiva-
ton" -----.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
EUROPE RECEDING.

From Tie London Econ onist
A Canadian, writing from Saskatche-
wan, asks us whether fnancers and
business men in London realize how
immensely wealthy their rivals are be-
coming through the lucrative contracts
placed in the United States and Can
ada. THE Economist" has been prac-
tically alone in pointing out ever since
the war commenced how fast Europe is
receding and the United States rising
in commercial and financial power.
THE policy of the last man and the
last farthing" and the policy of stick
at nothing" do not appeal to business
men.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
Wednesday, August 2, 1916.

The principal incident of the stock
market was a rise of pa points IN
the price of Union Pacific common,
on transactions of fewer than 1900
shares. That is nominal activity.
Il is a commentary on the state OF
mind in Wall Street that the
strength Of the stock was referred
10 rumors of an extra dividend or
a distribution of superfluous treas
ury assets. Here is an s per cent
stock selling under 140. 1t sold as
high as 1872 last year and at 164 q
in 1914. Gross earnings now are
at a rate never before touched.
They passed the mark of 100000
600 for the first time in the fiscal
wear ended June 80 last. Profits
remaining for the common share
holder are making at the rate OF
nearly 16 per cent year. The
dividend could be increased. So
could the dividends of many rail
roads be increased out of the unusual
profits Of the present time. 1t lies
in the discretion of the directors in
each particular case. Perhaps the
ore most important fact Of the pres
ent situation is that corporations
generally have adopted a conserva-
tive policy toward freak earnings
They have increased their reserves
and invested literally in their own
futures. 1t is hard on speculation
but speculation has resources Of It's
own.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
The Dollar in Foreign Exchange.

Changes in the rates Of foreign ex-
change were nominal. An interesting
development in the foreign exchange
market in recent days has been the
purchase Of rube exchange for the ac-
count Of private bankers and others
here who are transferring their funds
TO Petrograd and placing them on de-
post until after the end Of the war.
They have bought rubles as low as
81 cents, and hope with the return Of
peace to be able TO sell them around
so cents. The intrinsic par value Of
the ruble is 51.2 cents. One banker
alone is credited with the purchase Of
100000 Of exchange on Petrograd as
a speculative investment.
The closing rates were as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
The closing rates were as follows:

The above rates express the cost Of
foreign money in terms of the Amer
lean dollar. You buy an English pound
sterling for s4.75 1916; the intrinsic
parity is s4.S6% per pound. Thus, you
say either that pounds are at dis
count or that dollars are at n premium,
which is owing to the fact that in Eng
land the demand for dollars with which
to settle accounts in this country is
greater than the demand in this coun-
try for pounds with which to settle
accounts in England.
If you calculate the cost of the dol
lar in terms Of foreignn money-that
is, as if you were buying dollars with
pounds, marks or francs-its value
yesterday and year ago would be
about as follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02

at is significant of the times,
says "Dun's Review" that the coun-
try's business mortality shows con-
tinued reduction. Seven Of the pre-
ceding ten years disclosed some nu-
mercial increase in July failures, but
last month there were fewer defaults
than at any date since June, 1914,
and it is necessary TO go back to
August, 1911, TO find a smaller in
debtedness. Strictly commercial in
solvencies in the latest period num-
bered 1907 and supplied liabilities
Of S11,647,4 99, against 1927 in May
for $11,929, 341; 1,739 for $18,934,-
SOB a year ago; 1,411 in 1914 for
S2O,377,14S and 1,169 in 1913, when
the amount was S20,325,705. 1t
therefore appears that the present
figures make the best exhibit, in
point Of number, for any July in
three years, while revealing a de-
crease of almost 40 per cent as
compared with January Of the cur
rent year" With profits running
on a new high plane, business NOR
tally ought to be very low. 1t is
significant Of the times that how to
keep solvent is no problem at all,
whereas how to find labor with which
to increase production, or to main
tain it at this level, is IA dilemma
everywhere. The discussion Of it is
widespread and despairing. "The
Coal Trade Journal finds human
nature too much for it. "The scar
city of labor" it says, Eat many we'll
known operations is in some meas
ure due to the drifting off of men TO
the small mines which work spas
medically and are now going full
blast to take advantage Of present
and prospective market conditions.
Why men should leave a steady job
to take a spasmodic one is ques-
ton we shall leave to others" Per-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02

ANDREW J. MCCORMACK. AgetlonssL
REGULAR AUCTION SALE,
STOCKS AND BONDS,
BY ADRIAN II. MULLER son.
OFFICE. 80. 55 WILLIAM ST,
WEDNESDAY, AUGUST ?. 1915
at 1890 o'clock A. the
EXCHANGE SALESROOM,
Nos. "A AND IS NESEf STREET.
For Acct Of Public Administrator, y.
shs. Consumers Pie Baking co.
For Acct. Of Executors
$1,000 Cuba Copper co. ,. c Ressid
Deb Bonds.
1000 cuba Copper Co s ?. c. Rsg.,d
Deb. Bond. $500 paid oct 70. 1901
10 shs Cuba Copper Co. prefd
80 shs cuba Copper Co. common.
For Acct. % Administrator
1 sh. AchesOn Harden CO.
70 shs. Direct Line Telephone CO. q ~ 7.
prefd
sh. Thomas Carter Co. Inc.
shs. smith Pneumatic Transfer & s,or.
age Co.
For Acct OF Whom II May Concern.
shs. Monongahela Valley Traction ca
prefd.
SO shs. United states Title Guarantee d
Indemnity Co.
shs First Natl Bank. Jersey City.
235 shs West Indies Cigar co.
80 shs Lawyers Mortgage Co
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-02
Wasting the Substance.

Savings bank deposits have not IT.
creased proportionately. That IS a
sore point. Wages are higher than
ever before, people are making more
money than industry was ever able
to pay before, and yet saving does
not increase as it should. 1t was
only recently that intelligent cor
porations learned how to save IN
good times. Some Of them do not
vet know how. Those who do build
up large reserves out of profits DO
SO in spite of their stockholders.
Therefore, it would seem a good deal
to expect people individually to with
stand the temptations of prosperity.
It is human nature to spend reck-
lessly in good times and to save ne
roically in hard times. Pittsburgh
is rich. Her corporations have
enough fat to live on through long
siege of idleness, but the people are
enjoying theirs. They will.
But they waste it," banker sale
with heat. at is nothing to see a
mechanic with his own automobile"
Yet if mechanics could not own au-
tomobiles. the Pittsburgh Industrial
Development Commission could not
boast of Pittsburgh's enormous pro-
duction of motor parts" Nearly
half of the country's total prodhc
ton of parts" takes place in Pitt
burgh.
Much more serious than the fail
ure Of the people in thrift, under the
nsychic stress of sudden prosperity
is the decline in their working efil-
cheney. That is a conspicuous effect
ir every grade Of labor, especially
in the skilled trades. For that rea
son perhaps more than any other
Pittsburgh's economic thought tends
to be slightly pessimistic.
The interrogation you meet again
and again is this: with American
labor striving always to produce less
and consume more, how after the
war shall we hope to succeed in COM
petition with people who have
learned how to increase their pro
duction and do with less at the same
time?" ". W.