New-York tribune., 1918-12-23
Big Business Sees No Halt
In Trade Boom for ~ Time
Manufacturers Agree Cost of Raw Material and
Wages Will Drop After Higl-Priced Stocks Are
Lquidated, Thus Lowering Commodity Scale

are heartily in sympathy with the re-
cent election and with the Republican
policies"
The possibility of speculative fuc-
tuatlon in prices is pointed out by a
connecticut textile manufacturer, who
writes:
There is in many minds great
fcar OF depression in price, much
greater than is likely to grow out of
lower cost of production. This will
create temporary disposition to un-
load and to abstain from providing for
the future, which, in turn, will pro-
duce when the time for the resump-
ton OF purchases comes-an undesir-
ably great shortage and a correspond
ing upward speculation"
Another textile manufacturer ex-
presses somewhat similar views, urg-
ing buyers to provide themselves with
merchandlse TO prevent speculation,
saying:
Eve draw attention to the fact that
finally the value of merchandise is de-
termlned by the cost of production and
avallable supplies. There is no ndica-
ton that raw materials, which enter
INTO composition of our products, will
go down in value. Everything points
to their continued scarcity Markets of
the world are about to open to all raw
materials - markets which have been
hitherto restricted by war conditions
! ana ana lack of transportation facilities.
lhere is no indication that wages will
be lowered. 1t Is therefore quite pos
siole that If provision of merchan-
disc is not made by buyers, a pro-
nounced scarcity and a corresponding
upward speculation will in due course
follow.
A manufacturer of toilet prepara-
tlons sees no possibility of proper re-
adjustment until government railway
and postal employees realize their re
: sponslbility in the process and CO.
operate with instead Of vexing and de-
riding shippers. He writes:
speaking. Of .ourse, solely from our
own standpoint, the beginning of proper
readJustment will be when Federal en-
ployes, i. e., those connected with the
railroads in the freight departments.
the express companies and the postof-
flee, can be made TO realize that they
are partners of ours in promoting one
Of the fairly large industries of the
! United States
1T is true that under private own
ershlp and management there existed
certain degree Of indifference and
carelessness, vet there was a central
responsible authority that could be
with some hope of success appealed to
tor the correction Of evils. To-day
the situation in that respect is we'll
night hopeless.
Transit Losses Increase
"Our losses in shipments in transit
! are larger than ever, complaints are
often met with derisive amusement,
and to use colloquialism. the buck
is freely passed. If service-mail, ex-
! press and freight - was accelerated
just to that extent would business in
crease, and of natural consequence
the greater volume of costs and taxes
we would pay to the state and nation,
as we'll as larger payroll and num-
bers employed"
he question of a protective tariff
is brought up by the vice president and
general manager of a chemical and dye
Sums manufacturing company as fol-
lows:
There are now very large number
of dyestuffs manufacturers in this
country, and if they had not had the
courage to invest the very large
amounts of capital called for, not onlv
IN plants but also in very expensive
research and development work at a
time when they were absolutely gam
bling on the duration of the war, the
! position of the textile industry would
indeed have been a precarious one.
FAS result OF the work done IN
this country, every necessary demand
+ of the textile and other color-consum-
+ ing industries was substantially met.
and we think it must be conceded tn t
the dyestuffs industry is now entitled
to such fair and generous treatment as
viii not only insure its permanencv
I but also the permanency of employment
of the thousands of chemists, engineers
and worxmen who have helped so ma
terially 20 place the industry on its
present basis.
"ln addition to the fact that the dve-
stuffs tariff act which was so hurriedlv
! passed in 1915 is extremely vulnerable
at many points, the greatly increased
costs Of production in this country. due
to the great increase in cost of labor
fuel. etc, indicate clearly that the pro-
lection provided at that time is no
longer adequate.
"Furthermore, it seems to us that
any readiustment of conditions in this
country should seek so far as possible
to replace the present very high direct
taxes through increased indirect taxa
ton, and that in such step read
| justment of the general tariff situation
is the first and most obvious one to
toi-