The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1917-02-26
Many Firms Making Mil
lions Have Not Sent
Anything Abroad.
.SCANDAE0US CONDITION
People of This Country Be-
ing Held Up Out of All
Reason.
sy>eAsIL M. MANLY.

;, WASHINGTON, d. c., Feb. 2e-
g certain extent an increase in prices
OF foodstuffs, the cause of the food riots
in various parts Of the country, may be
justified by the failure OF practically
every important crop, but the prices
which have been in effect since last
summer are out of all reason and are
actually yielding greater profits for
the short crops than were realized
when half as much again was pro.
duced.
: Every corporation report that is
published proves the prices are unjus.
tthed.
Here, for example, is Armour & Co.
with a stock dividend of 400 per cent; ;
Swift & Co. with a cash dividend OF
S25,000,000; American Beet Sugar with
net earnings OF 40 per cent; National
Biscuit earning nearly 10 per cent.
on common stock that is all water;
Sears-Ro ebuck with earnings OF 265
per cent. on its common stock, and SO
on in every line of business activity
connected with the production and dis
tribution of food and clothing.
A part Of these great profits have
unQuestionably been secured by hold
ing up Europe, but at least three
fourths came directly from the pock-
cts of the American people, and many
Of the concerns which have profited
most heavily have not sold dollars
worth Of goods abroad.
Every indication points to the exist
prce of condition as scandalous as
That which the federal trade commits
sion found to exist in the paper indus
try.
The department of justice for near.
IVA year has announced that its sleuths
were on the trail Of the food monopo-
lists and spectators, but so far these
Investigations have produced no more
result than the decade of trust batting,
which did not reduce the price of oil,
steel or coal a single penny and result
ed in entrenching the trusts more sol
idly than ever in their monopolisttc
positions.
The federal trade commission is the
only government institution that has
secured results. Now that its member
ship has been strongly REINFORCED by
appointment of w. B. Colver, OF st.
Paul, its effectiveness will be greatly
Increased and rea! results may be ex.
pected II 1t Is given the munitions with
which to attack the problem.
The refusal of the House appropTia-
tons committee to report favorably
the fund of 100000 estimated by the
federal trade commission to be neces-
sary for the investigation of the cost
Of living recommended by President
Wilson comes in striking coincidence
! with the outbreaks of food riots.
The commission, by forcing an agree.
ment to reduce the price of paper from
\ Manufacturers who had insisted at the
fart of the investigation that they had
not unduly increased prices has gust
shown what can be done.
What has already been accomplish
ed in the paper industry will pay the
proposed cost OF the investigation
about ten times over, and the results
that are sure to follow any real probe
of high prices in other lines would re-
ply the cost thousand times.
Congressman who vote against the
appropriation are going to have hard
lime explaining why they voted bill
lion and half dollars to pay for other
legitimate and illegitimate projects,
and refused an enthusiastically small
= part of that sum Tor relief of the people
from the burden of high prices.