New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-03-17
How British Savings Speed War

it for personal qualification. For
the same reason VIC are not making
any new carpets. There is more
serious work for the spinncrs and
Weavcrs.
This drastic curtailment Of Ger.
tain lines of production to make way
for war business has not hurt bust
ness. 1t has merely resulted in a
shifting Of labor and business ac-
tivity from the less essential to the
vitality essential industries. To give
few illustrations: Photograph
Factories are now turning out deli
cate she'll parts, jewelry makers are
producing pcriscopes, watchmakers
arc adjusting fuses, music roll
makers have turned to gauge max
ing, a baking machinery plant is
manufacturing high-explosive shells,
cream separator factory is making
shell primers, GLACIERS are making
cartridge clips, baby food factory
is producing plugs for shells, the
output of a textile machinery plant
is now field kitchens, and an adver-
Using agency is making shell adapt
ers. Everybody is at work, produce
ing more and earning more than
ever before, but the output is war
necessities.
No great nation can 60 through
this war without paying it's share.
Profits and patriotism do not mix.
When England entered the war the
London merchants expected to see
their ordinary trade disappear, and
they were ready to shoulder any
burden the war imposed. But trade
has not been wiped out The
strange thing is that it has grown.
My own business has paid the Brit
lsh Treasury in two years 100000
in excess profits taxes; the govern
ment takes so per cent of the in.
creased profits over the pre-war
standard.
The reason for this growth in re-
tail trade is that the workers are
getting very high wages, and they
are now raising their standard of
living. But the more prosperous
middle class people have greatly
curtaied their scale of living. They
are giving up what the munition
workers are gaining. Their in.
comes and profits have been reduced,
their taxes have been increased, and
they are feeling the cost of the war.
There has been a great levelling in
England, and this surely is a dis
tinct social gain.
The piano trade is typical. In
our store we are selling a great
many pianos to families who have
dreamed for years of being able to
buy them. But these arc not new
pianos-we cannot spare labor and
materials for making new pianos
any more than we can for building
new houses. These are second hand
pianos coming from the middle-class
homes, often sold to provide funds
for buying war bonds and war saw
ings certificates.
If the merchants did a business
of millions Of pounds sterling in
moving these pianos from the home;
of the more prosperous middle class
to those Of the highly paid NUM-
ton workers, there would be no loss
to the country. No labor or ma
tcrial would be consumed, excepting
in the moving of the instruments. III
fact, the Treasury would gain by
the operation, because what is real
]y happening is that the workers arc
transferring some Of their spending
power to the middle class, and the
latter arc transferring it to the gov
crnment. The moving of the pianos
simply is way of getting part of
the munition workers spending
power turned ever to the nation.
London merchants arc not only
aiding the government in spreading
the gospel of war economy, but they
arc doing their part in divcrting the
wages Of munition workers from
careless spending to treasury financ-
ing. My own employees have put
100000 Of their earnings into war
savings certificates, and each week
we distribute extra certificates as
prizes to the holders Of winning
numbers.
When the British Treasury float
cd the last big war loan we offered
capital prize of $4,000 ($25,O00)
in war bonds to the customer buy
ing the bond carrying the winning
number. Mrs. Lloyd George pre-
sided over the drawing of the num-
bcrs. Before advertising this bond
sale | tclephoncd the London official