The Hood River glacier. (Hood River, Or.) 1889-1933, 1919-10-09
WILSON WARNS
OF ECONOMIC
PERILS AHEAD
Predicts National Disaster" II
After.War Problems Not
Solved Correctly

Washington, ID. C.-Persistent indus
try and steady. conscientious saving
must be depended upon to avert the
national disaster" which turks In the
cost OF living issue. according to Presi-
dent Wilson. Only increased produc.
tion and real thrift, be said. can be
effective in reducing prices and bring.
ing conditions back to q point where
wages and the cost OF necessities will
be properly balanced. The President,
outlining the economic policy upon
which the government Is basing Its
tight to reduce prices made IL clear
that the principles underlying the cam
paign for thrift conducted by the Saw
ings Division OF the Treasury Depart
ment through the sale Of War Savings
Stamps and Treasury Savings Certif-
Gates are the principles which must
rescue the nation from conditions more
dangerous to the prosperity and life Of
the people than the war itself
Increasing wages will not meet the
situation, the President said Wage In.
crease in the great industries of the
country under present conditions will
only tend TO push prices further and
further out OF reach, and the President
asserted that wage readjustments must
wait upon the outcome OF the govern.
ments fight to pull down prices.
Demands unwisely made and pas.
sionately insisted upon at this time
menace the peace and prosperity Of
the country as nothing else could" said
the President And this contributes
to bring about the very results which
such demands are intended TO remedy"
The President, emphasizing the seri
BUSINESS OF the conditions which con.
front the country, said:
We are face to face with a stu
alton which is more likely to effect
the happiness and prosperity, and
even the life. of our people than the
war itself We have now got to do
nothing less than bring our indus.
tries and our labor back to a normal
basis after the greatest upheaval
known to history, and the winter
Just ahead OF us may bring suffer
Ing Infinitely greater than the war
brought upon us il we blunder or
fail in the process An admirable
spirit Of self-sacrifice, of patriotic de-
votion, and Of community action
guided and inspired us while the
hshting was on. We shall need all
these now, and need them In
heightened degree II we are TO ac-
complish the first tasks of peace.
They are more difficult than the
tasks OF war-more complex, less
easily understood and require more
Intelligence, patience and sobriety.
We modified our man power for
the fighting; let us now mobilize our
brain power and our consciences for
the reconstruction II we fail 1t will
mean national disaster. The pri-
mary first step is to increase pro-
duction and facilitate transportation,
80 as to make up for the destruction
wrought by the war, the terrible
scarcities it created. and SO as soon
as possible relieve our people OF the
cruel burden of high prices
Pointing out the thrift remedy for
the situation now before the people,
the President said.
only by keeping the cost OF pro-
dnction on its present level by In
creasing production and by rigid
economy and saving on the part OF
the people can We hope for large
decreases in the burdensome cost OF
living which now weighs us down"
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