The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-02
MOVE Is BEGUN TO
CUT PRICE OF SHOES
House Committee Reports Res
olution to Investigate Costs
Of Production.
SPEEDY ACTION SOUGHT
Charge Made Leather Concerns
Make 100 P. G. Profit
Senate Gets Busy.

WAsHIyoroN, Aug. 1.-Dennite ac-
ton 10 bring down the price Of shoe.
was taken by the Interstate Commerce
Committee Of the House to-day when
It reported favorabiy a resolution Of
Representative Igoe (Mo.) providins
that the Federal Trade Commission
shall investigate the production costs
Of shoes IN 1918 and 1919 and report
70 the House not later than Septem-
Der .. The resolution win be called
up In the House tomorrow.
Information has been collected by
NJ. Isoe to show that shoe prices vii
be higher this fall unless some Gov
eminent action IL taken. He also ID
prepared to show that some leather
companies are making az high as 1ot
per cent. profit now.
Another attempt to reduce prices "a
provided by a resolution OF Representa-
tive James (Mich.), introduced to-day
giving the President power to requisi-
ton food and other supplies and resell
them to the people at q reasonable cost
Three proposals were presented In the
Senate for dealing with the price situa-
ton. Senator Kirby (Ark.) proposed
resolution directing the Judiciary Com
mittee to prepare q bill that would scale
prices Is per cent from their present
level. The law Of supply and demand
has been repealed. Mr.. Kirby declared
by the price fixing measures adopted
during the war. The way to sober mat
tiers up Is to have the upper rs per cent
sliced of prices at one stroke, ne be-
lieves.
Senator Myers (Mon) was disposed to
90 at II more cautiously. He introduced
a resolution callirg attention to the In
hation of the country's money supply
and directing the Committee on Banking
and Currency TO consider measures 70
reduce gradually the amount Of money
circulating.
Finally Senator nIcRalIar (Tenn. }
proposed a select committee Of six
equally divided between the parties, &c
investigate the cost OF commodities and
report as soon as possible what Is re-
spobsible for their present altitude. The
Myers resolution quoted from the Sec
Rotary of the Treasury showing that on
August l, 1914, the money in circula Ion
aggregated s3.3s7.3ss.000, and that or
July 1, 1919 this had increased to S5.-
s4i. o2s. 900. The resolution also pointef
out that the per capita circulation has
almost doubled IN five years
In calling up the resolution Senator
Myers said Il was useless to hope for a
reduction of the cost Of living until de-
f.atior was started. II the United States
q determined to carry the burdens oil
the economic world there can be no hope
OF early beginning Of dehation. he said
The Government during the war, ir
order to induce increased production. de-
liberately permitted combinations OF pro-
ducers to maintain high prices, and even
Fixed high prices on many necessaries and
guaranteed their maintenance. said Sen
ator Kirby (Ark). This WAS done for 8
proper and necessary purpose, but the
effects Of II are with US yet Even TO-
day the Government IL holding oaeh
from sale great quantities Of foodstuni
in its possession. and Is retaining thou
sands OF motor cars. not permitting them
to 60 on the market lest their sale would
reduce prices which manufacturers must
axe for their current production Thus
thu Governments part Is TO maintain the
inflated basis of value created during
the war.
The time has come when tbs Govern
ment should adopt a different pro-
gramme During the war the Govern
ment hxed the price OF steel in order &c
induce production. and hxed IL 30 high
that the inflated scale still confronts US
so high that the Director or Railroads
refused to buy. considering It outrage
ously exorbitant. But he was finally
compelled to yield and buy at this basis