New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-10
Current Comment

| current comment
Conservative factors are more than
balanced by evidence that our foreign
trade is recovering some Of the volume
IL lost in February, that bank clear
ings are larger, that railroad gross
earnings are increasing, and that gen
eral industrial activity is still huge'
Trade is hesitant, however, and buy
ing. especially in retail lines. is con-
siderably less than in the last ie"
months. Most of the readjustments
now going on are healthy ones, and
business will be on better basis AFTER
they are completed than it has been
for many months. Enlisting has fur
Their shortened the labor supply and
nearly all lines are contendlng with a
scarcity of workers. All things con-
sidered. higher prices for many COM
modities are not unlikely, although
governmental action may accomplish
something in an opposite direction
Franklin National Bank OF Philddet-
phia.
The American people are not ready
to pull down the blinds, shut up shop
and 90 out Of business; and such being
the case the wise thing to do is TO keep
right on producing, selling, buying and
keeping up all the other complicated
processes of modern life the same as
before. Congress will soon pass the
war revenue bill which will impose
taxes on the country approximating
g. 900. 900, 900. Who and what will pay
these taxes? Obviously, business will
pay it. II there is no business, no one
can or will pay taxes of any sort. In
Great Britain to-day the working
classes have more money than ever be-
fore in history. To be sure, the prices
Of all commodities are away up, but
who cares about prices as long as there
is plenty Of money in the pocket 70 pay
for whatever is needed? When the
United States is paying S2,000,O0O,OOO
in taxes this year and twice that
amount next year, the general price
level will be high inevitably, but no
body will mind that, because everybody
will have money. l. will be period
Of flush times. and there will be no
trouble for any one as long as the flush
times continue. If, on the contrary,
every one puches a dollar as If there
would never be a chance 10 see another
one. 10 will be a case Of soup kitchen
for everybody. and the United States
will have as much chance Of victory in
the war as a SNOWFALL in the sun on the
Fourth Of July.-American Banker.
So short has been the supply Of cars
in the South that iron has been shipped
to navy yards in refrigerator cars.
These came loaded with iced beef. but
we're seized by the government as the
only available equipment and loaded
out with pig iron. II is apparent that
government needs and governments
right Of eminent domain, so to speak,
arc going to have a profound effect on
the iron market. They have intro
duced new element into the situation
and have made conditions more strenu-
Gus. In some districts Uncle Sam is
requisitioning cars by the hundreds
and ordering steel by the million tons;
everywhere 10 is evident that the gov
eminent must be served first and that
private consumers must sit at the sec
ond table. There is no objection to
this. All realize that Uncle Sam is
and must be paramount But that
does not change the fact that the pri-
vate consumer is disconnected and
that in many cases he finds his regu-
lar source Of supply abruptly cut Off.
And the thing has just begun What
the end may be is q mere matter Of
conjecture. MdttheiC Addy COM
p1ny of Cincinnati.
Manufacturing plants in this district
philadelphia Federal Reserve Dis
trictl have continued to operate as
nearly to capacity az the supply of
labor and materials would permit since
tho entrance n tho Trri4nd c4a4,s into