The sun., 1919-09-02

done during the ensuing rnoufhr. Thers
IL no fundamental reason why any one
should postpone building operations sk
this time. Much harm has been done
In the past through the belief that prices
might come down. However, we have
seen steady advance in oil commodi-
ties and there In nothing to Indicate a
change in these tendencies.
I'm all likelihood the longer one de.
lays In starting building operations the
greater will be the cost Of the enter
prise. The conditions which will keep
prices on steady upward scale may
be epltomized as follows:
1. Continued upward tendency Of ali
hbor costs.
q. Demand OF iaborers for shorter
working hours.
.. Shortage Of unsidiled labor due to
restricted immigration and increased
emigration.
8. Unprecedented shortage of all types
OF buildings.
5. Vast amount Of public works needed
By Federal Government and various
States and municipalities.
.. Restricted output OF building ma
terials, owing to labor troubles and
transportation limitations.
Z. Continued upward trend In tho
prices Of all commodities.
9. Tendency toward better living by
the masses OF the people.
What Is needed right now more than
anything else 10 mental stabillzation, or
complete understanding by all inter-
ests that building costs are not coming
down. but that they are going steadily
higher.
Holding on at this time marks q
definite loss In view OF increasing COSTS
while to build now means a continued
and rapid enhancement of ones invest
ment. provided II 10 made under proper
conditions.
with the present shortage Of houses
L Is not likely that conditions OF nor
mality can be restored for several years.
A tremendous amount of Industrial ex.
pansion is necessary to meet new busi-
ness conditions. which will absorb capt.
tai. labor and building material. We are
bound to develop our resources more in
the next ten years than ever before in
our history. We are getting ready for
an export business such as we never
dreamed Of In antebellum days.
America VIII Lead the World.
America Is reaching out her mighty
arms toward every part OF the world.
We are to-day the most powerful. virile
and aggressive people In existence. The
war taught US the lesson of our own
great power. Mighty as we have been
In the past we have Just discovered our
tremendous strength. Now we are
aroused. We are going to lead the
world In commerce and industry. Every
business organization of consequence In
America to-day feels this impulse.
And all this expansion will mean the
rebuilding of railroads and wharfs, tho
reconstructing of public roads, the i'm
provement of harbors and the erection Of
vast number Of buildings of all
kinds.
I'VE may therefore expect that for a
number of years to come there will be
prodigious building operations going on
in this country. and with the continued
shortage there win be a consistent ten
dency toward higher rentals. which will
be to the advantage OF the investor in
real estate and the home owner.
I'VE must learn to judge the future
by the standards OF the future not by
| the standards of the past. The future
will bring higher prices, but we will
adjust ourselves according to these con-
ditions. And we must remember that
| better standards of living necessitate
higher prices. Better homes, a more
refined environment. superior educa-
| tional advantages all mean Increased
| costs. To build now. therefore, consti-
tutes patriotisms thrift and good bust
ness logic"