The Bridgeport times and evening farmer., 1919-08-20
HENRY CLEWS'
 WEEKLY LETTER

This country is passing through one of the great, if not the greatest. crires in its history. Though far distant from the seat of war, and much less injured than any of the we are feeling the eco- homie results almost as sharply as they. The very fact that we suffered less means that we must help more; hence in tho work Of reconstruction our burdens are actually much heav- fer than we had ever expected them to be. We have not only been obliged to feed Europe more freely than usual with our spare grain and meat; but now that peace Is here we are also called upon to suddenly furnish immense quantities of cotton, copper, petroleum and steel products. in order to fill up the void created by five years of intense destruction. Eu- ropes demands are not easy to measure. In addition to those just mentioned we have been called upon to provide ships, coal, credit and many other things formerly obtained from other sources. Such exception al demands forced high prices in every direction, and the urgency Of these requirements enables labor to insist upon higher and higher wages. Domestic extravaganza is also an i'm portant element in high prices Whether these movements have reached their climax or not depends upon how far the demand has been met. When buyers cease striving Tor goods, because either satisfied or ex- hausted, then the advance VIII surely end and dullness ensue until demand receives fresh stimulus from new in quiries or lower prices. AS long as these conditions last it is useless to expect industrial stability. Return to the normal will require many months of large product and hard work. The Federal Reserve Board wisely said that the only cure for the present crisis is work and save" This ap- plies to all classes of workers, those of hand and head alike.
 Washington as a Factor.
 Washington will be the center of interest for the balance of the year at least On the surface our foreign relations appear to be the chief fac tor. As q matter of reality, our in dustrial problems are of far more pressing importance. The stoppage of proffteering is at the moment Of greater consequence than playing politics with the peace treaty. It was urgent that an immediate check be placed upon the rise in prices, which may modify the advance in costs somewhat, but cannot stop the de- mands for high wages. The latter are based not altogether upon high prices, but in part upon the desire to secure a larger share in the gen. eral prosperity as long as 1t lasts. The Railroad Brotherhoods very sensibIy took President Wilson's advice in re- gard to their higher wage demands postponing them for more deliberate consideration and without striking The public is weary of innocently sui fering, not only the inconvenience ot these transportation strikes, but also of paying their costs in higher fares or taxes; and, if labor leaders per sist in pushing these tactics too Tar an unpleasant surprise may De Tn store for them. The movement 1oI Government ownership has been tair- lv launched, and it is practically certain that it will be live issue nex' election. The disinterested and thlnk- ing classes of the United States are on record as opposed to Government ownership because it destroys per sonal initiative, the most powertuI incentive to all progress. The radl- calls and ignorant favor govern ment ownership for socialist!c and other reasons. The great
 middle class. the one that will prob ably ultimately settle the quesuon is undecided and slow as usual III making up its mind. If the supJec' is thoroughly discussed they may prefer private ownership, backed DS efficient regulation, which hitherto hos not been in evidence. Labor seems hardly likely to err by delb' crately choosing system that adopted will eventually result in hXec wages and compulsory Work- Stoch'
 holders have little to fear in either
 direction. for the roads are al loN
 ebb in their financial affairs, and th'
 Government will be obliged to pay
 fair price for properties which coulC not be replaced at anything llht present market values.
 Business and Crops.
 The vacation period is now at it.
 height, and initiative in the 1lnahcls'
 district consequently at its minimum
 \ CIV movements eLA NiAAN-AJ
 to preparations for moving the crop!
 and handling the autumn trade. Botf
 of these divisions of industry are eX
 pected to be particularly active. Th' harvest is now well under way, ant
 wheat rapidly coming into the mar
 ket. Corn and cotton will soon fol
 low. The yield in many cases vii fall below early expectations; but II
 the aCCregate the quantity will b'
 considerably above the average
 Prices are high, and the amount O
 money required to carry or marke the crops will be unprecedented. Thi burden however will be well distrib uted. because the farmers, aided bl
 rising land values, are more pros
 porous and better able to carry thei crops than ever before. Bank de posits in the farming districts hay risen largely. and the West will leaI very lightly. if at all, upon the Eas for the financial aid that formerl! was the controlling influence upon tn banks here at this season. This doe not moan that the Western flow O money will not have some effect, ever in this market. The great activity O | trade in the West and South result ing from the profitable harves must stimulate business here; increas