Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-11-28
RARUCH OPTIMISTIC
ABOUT INDUSTRIAL
FUTURE OF NATION
Thinks American Business
Will Prosper During Pc
riOd Of Reconstruction.
LOWERING OF WAGES
NEED NOT BE FEARED
Workmen in Foreign Countries
Will Demand and Receive
Higher Pay.
TO BE NO MORE PRICEI,IXrNG
Chairman Believes Activities OF War
Industries Board Will Soon
BE Ended.
TO BE NO MORE pRICEI1xrNt


long period of prosperity for American
industry was predicted to-day by l.. NJ.
Haruch. chairman Of tho War Indus
tries Board. lie said he had no sym
pathy with those who pessimistically
apprehcndcd serious Industrial disloca-
lions and labor difficulties attendant on
me return OF American business to 4
F.. peace basis.
Il sec no justification for such pes
,,imisn." lie said. .On the other hand,
cont want TO appear as a prophet
OF great boom era. but ! am con-
vinced that for a long and continued
period there will he such a demand for
the products OF American industry as
employment
For the years OF the war Industry
has been damned UP. and unlimited OPP
nortunitics lie ahead"
LABOR ENTITLED rO
HIGHER REMuNERA ALTON
Labor he said. was entitled TO a
greater share in the profits of indus
Try than II had had in earlier days and
he saw the better understanding OF la
Dor and capital as a matter tor con-
graduation to the entire country.
Mr.. Baruch had no fear for the re-
construction period. While critics are
breath, II. said the business interests
are going quietly ahead solving the
problems, and he expects to see the
problems solved before the country is
aware that they had been met.
While manufacturers were surprised
q, the sudden ending OF the war. and
lation of contracts, they arc rapidly
hLding their bearings and chartins
their own courses back TO normal
Which viii be absolutely proof against
Q certain amount Of arrangement in the
business world during ihe-prnccss. of
transition, but this arrangement Is by
no means likely TO be so serious as
painted by the pessimistS.
On the other hand. Mr.. Daruch said
ne could find no sympathy for the
30 into business in competition with
private industry. Each governmental
! told not TO resell any raw materials
in competition with private producers.
unless such materials. il held. would
dclerioratc, or unless II should be
pressing need Of the civilian popula-
tion.
From other governments have come
requests to purchase some Of these
stores. But" said MIR. Baruch, lit is
my understanding that loans extended
by this government TO the allies We're
to stab!iSh credits only for war pur-
poses"
Mr.. Baruch anticipates no destruc-
tive competition on the part OF Euro
dustries due to lower wage scales
abroad.
FOREIGN LABOR COSTS
WILL III; HIGHER
European labor will seek and OBJ
tain higher wages" he said. THE
shrinking of man-power abroad. due
10 the war casualties. will contribute
TO the establishment of a higher wage
scale abroad. Foreign producers. as
we'll as our own, will thus face higher
costs"
Discussing the cancellation Of con-
tracts by the government. he again re-
assured the business world that it was
the disposition of the government to
be liberal with the contracts. 1t must
consider the wishes of the nation. how
ever, not TO continue needless produc-
tion of war materials.
Where contracts carried cancellation
clauses. the method of adjustment was
already provided he pointed out. and
the contractors had entered into the
contracts with a full knowledge of
the possibility of cancellation. and with
terests were fully safeguarded In ad-
dition. the government itself had taken
every precaution TO see that their in
terests were fully protected. 1t was al
ways the governments Intention to
protect the contractors against loss.
even at great cost. to itself. Where
there was no provision for cancella-
ton IN the contracts the government
would find equitable basis for adjust
ment, and no contractor need fear that
any advantage would be taken of him
in the settlements.
or all this. he declared. he could as
sure those interested, though the mat
tcI VI SuCH ConlTdctS. the initiation of
their cancellation and the adjustments
10 come were not matters before the
War Industries Board.
Discussing the situation of manufoc
turers who had largely expanded their
plants to increase production for the
government. Mr.. Baruch explained tina
all such expansions We're made under
contractual relations with the govern
ment, and that such manufacturers had
every reason TO expect and be assured
OF fair treatment by the government
in tho final adjustment OF their re-
lations.
WILL he 80 FURTHER
FIXING OF PRICES
The chairman does not expect any OF
the prices for materials now fixed 70
be extended after the expiration Of the
periods for which they were last set.
lie explained that mall cases these
Lad been maximum prices. but again
said that the wishes of the industry
would be considered. and that each
case would be considered on its merits,
rs the time OF the prices fixed expired
i. the expiration came within the life
Of the board.
lie declared that the board and sec
tions under it would be continued so
long as needed. but he was of the opin
ion that thc- entire activities of the
board would be concluded before Feb
ruary l, and possibly by January /. It
/, was possible that some of it's func-
Z tious might be continued under "A sim
gle body