The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-12-10
STEEL PRICES TO Be
CUT; WAGES TO STAY
Continued from First Pdpe.


cannot afford to make reductions in
the price Of their commodities, and
many insist they are entitled to higher
rates. As we, in this country at least,
are operating and living on a basis OF
general prices that are abnormal, we
might consider the propriety of max
ing reductions at the same time in
every direction; but this would be i'm
practicable. Therefore, II there are to
DO reductions they must be gradual
and considered in individual cases. We
must commence at some point or
place.
Judging from the past, all Of us be-
lieve we should not commence to make
reductions at the point of wage rates:
sacrifices must previously be made by
employers. Our employees must con-
tinue to be treated literally with re-
spect to their compensation and gen.
eral welfare. We will continue TO
show them that IL IL our intention to
consider their merits, and to treat
them as associates and valuable assist
ants in our work. We should give no
cause for reasonable complaint or UNI
favorable criticism.
There Is no ground for believing, as
sometimes limited. that the workmen of
this country are DESTROYS Of controlling
the methods Of production or distribu-
ton. They know they could not be
successful in the experiment. They
understand as well as we that all lines
Of human activity must succeed or fail
together; that every individual must
consider and recognize the rights Of
all others II we are to have prosper
ity, comfort and happiness; that he
who agitates for anything else Is dis
loyal to his country, his friends and
his home; that the average leader who
tries to disturb the friendly relations
between neighbors or associates is act
ing from selfish motives, for pecu-
mary profit or individual power or
position.
Deprecates Wage Reductions.
II am assuming you will not favor
reductions in the wage rates unless
and until It shall become absolutely
necessary. Notwithstanding 1t is pos
sible the War Industries Board may
decide there ought to be conservative
reductions in the prices of our COM
modities after January 1. Our prices
ave been high during the last year,
and In the cases OF a few companies
the profits have been large.
In order to maintain production up
to full capacity OF all manufacturing
works, so as to meet the military
necessities of this country and Its as
sooiates In the war. II has been neces-
sary to tx prices larger than normal,
because Of increasing cost OF produce
ton, by reason of wage increases and
higher prices for everything the pro-
ducer has been obliged to buy or pay
for.
However. the war Is ended and pro-
ducing and selling conditions are
changing. Furnaces and mills will be
returned to ante-war uses and methods.
The law Of supply and demand will
again control. There will soon be no
restrictions in prices nor anything to
prevent their settling down to lower
basis, depending upon circumstances.
Costs Of production probably will in
the course OF time be decreased. though
not to former levels.
The general public, as in 1907, ex-
poets the steel industry. called the
barometer Of trade. to exercise modera-
ton and skill, and so far as legitimate