Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1918-12-02
StabiIizing Prices By Govern
ment Too Late to Check
Ayaricious Dealers Raiding
Consumers on Every Hand,
CLOTHING DEALERS
GIVEN FREE REIN
Congress Passed By One Bill
Pertaining to Profiteering,
That Fixing Limits Of Rent
in Washington,
ESPECIAL coRsssroapsseE 70 sonnno JOURNAL
nv Louis SeibOtd.


by Louis Seibold.
New York, Dec. 1.--Almost from the
very start of the European war I'M
August 1914, the prices of every COM
modify began to soar throughout the
world.
Great Britain, France, Russia, Bel
GUM, caught unprepared, were COM
PEELED to reach out into every quarter
of the globe for materials with which
to oppose the progress of the German
armies,
The neutral countries Immediately
contiguous to France and Great Bri-
tain first felt the tremendous pressure
upon their economic and industrial
resources When these coubtries-
Holland, Denmark, Norway, Sweden,
Spain, Switzerland and 1taly-had
been drained the enemies of Ger-|
many reached out over the seas into
the prosperous and resourceful United
States The effect was that the indus
trial institutions of this country par
ticularly those equipped to make war
materials, were expanded several
times their normal capacity and en-
tered upon an era of prosperity never
before enjoyed by them.
1t is still matter of controversy
as to just how much British, French
and Russian money found its way into
the Golfers Of American concerns Of
this character as well as those engaged
in the production of food and other
essential supplies. One authority
places the amount received by the pro~,
ducing element in the United States
during the thirty-three months before
the United states entered the war at
$4,000, 900, 900.
Another estimate is that the gross
amount would more clearly approx
mate 81, coo, 600, 600 In any event the
war demands of the countries oppos-
ing Germany brought to the United
States from foreign sources greater
volume of business than they had ever
before known.
Wages mounted apace with the
unusual prices demanded and re-
ceived by American concerns for their
productions. AS wages mounted the
cost of living began to soar, and
profiteering set into full swing. After
the United States became a beiliger-
ent and found it necessary to subor-
dinate the demands of the civil popu-
lation to her own and the military
necessities of her allies, the living
wage became the most important
problem confronting the American
people. Business concerns engaged
In the production of commodities and
supplies of every character seized
upon the opportunity afforded to en-
bark upon a profiteering course with
unbridled license.
Glasses Which Suffer.
The principal victims Of these
practices were not the wage earners
whose incomes were directly affected
by war conditions, but those employed
at fixed and arbitrary wages which
did not command the premiums paid
to those employed in the production
OF munitions and other war supplies
booksellers, shop clerks, inspectors,
collectors and of the greater num-
Der of professional pursuits.
The stipend of four or five million
classification has not been appreciably
increased during the progress of the
war. Certainly the increases, IL any,
have not been commensurate with
those paid to war workers, But they
have, nevertheless, felt the pinch
more acutely than toilers whose serV-
ices have beengat premium.
AS foreign pressure began to close in
on the production resources of the
United States, the prices for living
I1tCeSSllttS UtEdtitt HluAii PtO
nounced. The neutrals nearest the
belligerent countries, were squeezed
dry of their last ton of coal and pound
of meat. These began to add their
clamor for the products of the United
States. During the period that the
United States persisted in maintaining
its neutrality between the belligerent
and neutral countries caught between
the pinches of war were almost pro-
hibitive. A pound of beefsteak in Swe-
den cost as high as $i2. 1t had sold
for 80 cents in this country during pre-
war periods. but it practically doubled
in value as the insatiate demands of
war became fore imperative, Shoes
cost three times as much in the bellig-
erent and neutral countries as they
cost during peace times, and twice as
much in the United States. The same
was true of almost every other COM
modify.
Confronted with its humanitarian
obligations, the United States con-
tributed largely to alleviating the wo-
fully tragic conditions of the inhab-
lContinued on Page Two.)