The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-07-08

for Government bonds and confirm.
tons to war charity, the nation,
thrift fund is steadily increasing. Saw
ings deposits at various centres ara a.
record level and the Accommodations ara
growing in response to the Govern
ments appeal for increased public and
private economies. This Is a good s,o,
and shows that the allowance for
luxuries is decreasing In proportior
as the problems Of war become mora
complex. A significant movement hss
been the tendency Of Liberty Loan
subscribers to pay their instalments
In advance OF maturity. In this wav
many thousand small bidders have re.
lieved the banks Of carrying the bons.
for them and made II possible for tha
lending institutions involved 10 IN.
crease their advances to mercan.Ila
borrowers. This Is the best possible
preparation for the next war loan
Offering and means that the Liberty
Loan committees with their splendid
organization may experience less din.
Guilty in placing the next loan ~
record size than they encountered IN
securing subscriptions for any prev,-
Gus offering. After this financing has
been provided for through advance
sales Of Treasury certificates OF In.
debtedness, the bankers will be fresr
to bring out large loans for private
corporations which have been accus-
toned to appeal to July investors.
The whole nation is learning by de.
grees that spending money foolishly
means making other people work for
you at a time when industries an.
gagged on war contracts are finding 1,
very difficult to maintain a full work.
ing force.
Modelling Labor.
There never was a time when labor
was as difficult to deal with, or when
it was as important to increase the
country's production. The War Labor
Board has done good work. as have
have investigated wage differences In
various parts of the country. The
Administration authorities have been
successful thus far In preventing strike
disturbances. The great work OF
modifying labor Gas been taken up in
a scientific way, through the instru-
mentality Of the recently organized
War Labor Policies Board, which will
effect proper distribution OF workers
and make it less difficult for manu-
facturers engaged on Government con
tracts to secure the necessary pro-
duction. II this board succeeds In
solving the problem OF continuous ser.
vice for competent workers It will he
Of great advantage in a country which
has been VIGOROUSLY unscientihc in
its dealings with labor. The situation
here, however, has presented fewer
difficulties than have been encountered
In England. where the efforts to insure
cooperation between labor leaders. en-
ployers and Government officials have
caused many complications. Out Of i,
all, however. will probably develop ar
improved system Of labor distribution
which will be Of lasting benefit to the
people.
Profteering.
The charges Of profiteering made By
the Foreign Trade Commission caused
some unsettlement in Wall Street I'M
I'll the report was examined in detail
This investigation showed that the
allegations were in many cases moi
specific and that the disclosures would
not injure a large class OF corpora
tons which 1t was feared would b.
seriously affected. The chief danger
is that the disclosures may cause re-
n-o1
concerns. which. although handling an
immense volume OF Government work
have not been guilty OF prof1teerinE
at all. 1t is to be hoped that the
Senate will sift the charges in tn
effort to get at the facts and SO pre-
vent the congratulations contained IN
the report working to the detriment
of that large class of corporations
which have dealt with the Government
as they would deal with prlvsto
customer in times of rush work anI
high manufacturing costs.
War Confusion.
The whole world is so involved in war
that Chile has come to be the orii
country that is not belligerent or con
tisuous to belligerent The confusion
is creating new problems for every
belltgerent nation. and while some Of
these are very complicated most Of
them are being solved in a manner
which will promote the reimbursement
OF the worlds industry 10 a peace
basis when that is possible. In the
midst Of all the confusion it is well for
us to remember that this country IS
the brightest spot in Il world w4cS
has largely abandoned productive toi
destructive pursuits.
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