The daily banner. (Cambridge, Md.) 1897-2008, 1917-11-12
Patriotic Economy

The necessity for patriotic econo-
my will be evident if We think OF IL
nance in terms of labor instead OF in
dollars. We have natural resources
and we have capital invested In the
tools, of production, but even with
these facilities our productive capacl-
ty is limited by the supply OF labor.
BY labor we mean the personal SER
vice, whether of brain or OF Drawn,
of the forty million Of us who are
engaged in gainful occupation.
To carry On the war we snail
spend at least twelve billion dollars
per year, or thirty-three million dol
lars per day This is as much as
Great Britain is spending and fifty
per cent. more than Germany Is
spending, and the figures are so huge
that few of us appreciate what they
really mean.
Europe is already so deeply in debt
that she may never be able to pay,
and we are On the road to the same
condition. Balance of trade Stats
ties indicate that we have made an
extra profit from foreign business
since 1914, of five billion dollars, or
The effect of this in enriching the
country is suggestive OF the result OF
three years of impoverishment at
the rate of eight billion dollars.
Our normal annual savings are
about four billion dollars, and not
only will our war expenditure absorb
all of these savings, but we must
find eight billion dollars in addition.
During the past three years our pres
ent allies have obtained much assls-
lance from us, but as there is NO
country to whom we can turn we
must carry our burden alone.
Our savings go into public and
private improvements, including the
extension of business enterprises
These savings will not be available
for war until we stop federal, state
municipal and private improvements
until we forbid all issue of securities
except under federal license, follow
ing the example whereby England
reduced the issue of industrial Sc
curities from $46S,000,O00 in the
first half of 1914, to 81 100000 in
the same period of 1911.
The danger of a food famine has
been brought home to us and We
are making a real effort to reduce
consumption, though our efforts te
increase production are being seri
ously handicapped by the high price
of labor.
Immediately after war was declar-
ed the President warned the country
that everyone should produce more
and consume less. The idea that
business was to be suddenly reduced
by a wave of economy was shock tC
business men and the cry business
as usual was spread over the coun,
try and caused the Presidents ap
peal to be forgotten. Not only are
people spending as usual, but many
conscientiously believe it their duty
so to do.
Every dollar spent means the con,
sumption of labor. We shall not be
far wrong if we say that every foul
dollars spent consumes a days labor
and that every twelve hundred dol
lars spent consumes years labor. A
war expenditure of twelve billion
dollars will consume the labor of ter
million people; twenty-five per cent
of our total labor supply. This add.
ed demand comes during the great
est labor famine in our history
which has increased commodity
prices eighty-6ve per cent. since
1914.
We have reached point where the
increasing demand reduces the eff
cheney of labor and thereby reduces
the supply, and we are facing fur
Their rise in commodity prices, per-
haps to exceed present conditions in
England, where prices are up one
hundred and twenty per cent.
The most effective remedy is to de-
crease consumption, and it is impera-
tive that every one should make a
drastic reduction in personal expen-
ditures. The example must be set by
the rich, but every man, woman and
child must be drawn into the move
ment until patriotic economy be-
comes the greatest fad the country
has ever known.
Our young men who try to avoid
military service are "slackers." Ev-
cry one of US who will not econo-
mize to help the war is Stacker. y
realizes that every four dollars saw
ed is days labor contributed to the
war? 1t is not a question whether
your income justifies an expenditure
but whether the country can afford
to let you spend.
Even to prevent hardship we have
no right to spend to keep people in
their usual employment, for only by
a process of readjustment can we
obtain the labor necessary for the
war. Already the Government is re.
sorting to price fixing and other dan.
gerous experiments, because we car
no longer submit to the law of sup,
ply and demand. We cannot in
crease supply, but we can so reduce
demand that the available supply
shall meet our needs and so KEEP
prices within bounds.
With two million men In canton
ments or in tents there are houses
enough for the rest of us. We car
reduce the famine in wool and cotton
by wearing our old clothes. We car
stop the purchase of automobiles, sc
that the factories and their opera.
tiyes may produce motor trucks, air,
craft and munitions. We can use
the automobiles we now have less
freely and save gasoline. We car