The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-08-29

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has been identical with that OF the
,0,tat,on OF labor leaders Ill different
narts OF the country; namely the III
crease of the spirit OF unrest, which
can hardly be expected to stimulate
production. The prices OF securities
IN the New \ ork STOCK Exchange mas
been rejecting the decentralization
nroduced by local difficulties including
the complete but temporary ue-up OIL
the lines OF transportation; the con-
d1tlon OF affairs as concerns labor
throughout the country, especially III
the steel trade and the railroad lines,
and the ever-mountlng cost OF the
necessities OF living.
The sharp selling which appeared i'll
the stock, grain and cotton markets al
the opening OF the week has Indicated
the closing out OF speculative ven
lures on the broadeSt scale since the
cessation OF hostlllties IN Europe.
heretofore 1t had been the profession
al element III Wall street which had
taken such peSSlmlSt1c View OF the
SITUATION, whine the general outside
puDl1c renamed hopeful OF better
things to come. COMMISSION houses
were also prone to regard only the
bright side, and were therefore ad-
y1sIng their clients 10 hold on to their
commitments Tor the time being. / he
last ten Gays have, however, eStaD-
hshed a level OF prices tar below that
at which some stocks had preSumd bly,
been picked up at bargain counter
rates. The ease with winch these
stocks sold Oft i'll the latest movement
is ample evidence OF the genuine llqul-
L,- al
being aided only slightly by public
buying orders.
1t cannot be denied that the recent
agitation III labor circles, and the con-
sequent action on the part OF the gov
eminent to devise ways and means tor
forcing down prices, has had good re-
suits IN enlightenlng the public as to
the part it can play in bringing about
much desired reform. Even the
clamoring laDoring man has begun to
realize that putting few extra dollars
into his pay envelope does not IN
crease the number OF bushels OF wheat
available for making his bread, and
that if the process is repeated to all
other laborers, the price OF living will
inevitably catch up with, or surpass,
his earnings.
Some Roadway has also been made
in combating the extravaganza which
has been a NATURAL ally to the higher
scale of pay which some branches OF
labor have been able to procure at the
expense of their fellows. This has
been large factor in increased costs,
and its dangerous trend was demon
strated among England's war work
ers long before the problem was
transplanted to America For two or
three years the foolish extravaganza
of the British laborers excited first
the wonder, then the indignation Of
England's statesmen, but apparently
no satisfactory method was devised
of combating the evil. AS conse-
quence, France and England have sui,
fered much more from personal ex-
travagance than America or Canada
While strict government cooperation
is necessary, and every use should be
made of the agencies of the govern
ment for insuring fair play on all sides
there is no substitute for Production
on the one side, and Economy on the
other as the great panacea for the
worldwide economic problem.
The suggestion is made by promi
nent financial authority that organized
labor could, by simple expedient in
volving but slight sacrifice, reduce thu
cost of living by Is per cent in ont
year. This expedient is the increasing
of the working day to ten hours, dur
ing which every man should work a
highest efficiency. After one year /
would be shown that great gaps II
the worlds production would be filled
the cost of living tremendously re
duced, and organized labor could sa.
in all truth that it had come to tn
rescue of the world. Longer hours
and more efficient work in thes
hours, are the chief factors to reduc
living costs. The present high trans
portation charges, for instance, are no
due entirely to higher wages. III
unions have abolished piece work !,
the railroad shops and the decline il
efficiency is estimated at about ~ pc
cent. The Pennsylvania Railroad wit
10000 more employees last Decembe
was able to handle less traffic than tn
December previous with the smalle
force. The world is simply starvin
for cotton goods, but with 3OO,OO
more spindles we are consuming SOo
600 bales less cotton than last yea
This is due to an average cut OF abou
tive hours per week and reduced Ell
cheney on the part of the operative
Selling to Europe.
At no time within the last fifty year
has this country been in such an ur
favorable position in relation to tn
process of shipping goods to toreig
markets, and at no time in that pcrio
has the need for our commodities bee
greater than at present There seen
to be no limit to the depths to whic
exchange rates on London, Paris an
Rome can descend. and even at III
lowest levels there rs apparently II
special demand for the enormo,
quantity of bills offered in the markee
A steady and further decline is to |
expected in sterling and franc e.
change unless protective steps al
taken in this country, and the apatf
of the British government makes tt