Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-12-05
j. s. MAY START
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ESPECIAL o,sp.rez 70 aos~So JOURNAL

ESPECIAL DISPATCH TO hoRNlNG JOURNAL
Santa Fe Dec. 4.-The high cost of
living conference adjourned this after
noon after having come to the con-
clusion that not very much could be
done under existing laws to reduce
current prices. 1t was decided to ap-
point a fair price committee in each
county 10 keep watch so that no prof
iteering will be INDUCED in by retail
ers
Governor Larrazolo, who presided
said he expected that a special session
Of the legislature would he held within
the next thirty days and that one of
the matters which will be taken up
will be the passage of a statute SINH
lar to the Lever law enacted by con-
gress.
United States Attorney ]. IT. At
wood of the United States department
of justice, who came here from Kan
sas City to attend the conference, made
a forceful address and gave warming
TO retailers that if they took advan-
tage of the situation to profiteer there
is no doubt in the world that Uncle
Sam himself will go into the retail
business and put the profiteering re-
tailers out OF business.
''lmmutable. laws cannot be set aside
by legislation" was the expression of
one of the officials in attendance at
the high cost of living conference in
Santa Fe. political economy is an ex-
act science" he continued. Two and
two will continue to make four. Even
when governments set aside the laws
of supply and demand for the time he
ing some one pays the cost and the
deficit and in the last analysis ii is
the consumer. The government can
decree beef to be sold at cents a
pound but in the end the consumer
makes up the difference between cost
and selling price. All that Is the mat
ter is that the silver dollar is merely
n commodity of exchange and no long |
er a rigid standard of value. Things |
are no higher than they ever We're, |
Silver dollars are merely cheaper. II |
took five bushels of wheat to buy a |
decent pair of shoes before the war, |
1t takes five Bushels of wheat TODAY
to buy that same pair of shoes. 1t took
1 carpenters daily wage to buy fifty
pounds of sugar before the war. II
.akes that much today. There are
some things that are cheaper than
hey were before the war measured
n bushels of wheat and pounds of
beef. These must come up before
matters readjust themselves. Salaries
Il officials are among these things;
alaries of school teachers; rents.
rice of land, and many other things
AVE not kept pace and are due for 4
rise rather than that flour, shoes.
ugar and beef are due for a decline
at least, not as long as silver dol
ar is worth only one-half of what It
vas five years ago. There are other
Inevitable factors that enter into the
roblem in which profiteering plays
much smaller role than the public inn
gines.
There is no use denying that the
regulating medium in the United
tates has increased by thirty billion
ollars of fiat money issued in the
hape of bonds and notes to pay
OF for construction, not for the crea-
ION of assets, not for increased pro-
ucton-but for engines and produc-
ial of destruction. No wonder money
cheap. Production has also de-
reased Each day the number Of
hose who live without producing, in
reases. OF ~,ials, sales agents mer-
hantsi teachers, personal servants,
'ansportation employees and other
i"09O9 NHOhb NUMBER Is increasing
luch more rapidly than the farmers ,
nd other producers of food and other
ecessaries, all are purchasing more
IAN ever before. Take the one factor
automobile riding There isn't a
loment of daylight in the United
tates when there are not a million
eople, somewhere, somehow, riding
an automobile. A million people
re withdrawn from productive work :
ear in and year out to be enjoying an ]
ltomobile ride, Another million is
nployed to make the material for
ltomobiles to build automobiles. TO
II automobiles. You need not figure
ny farther to look for causes of So
He'd high prices, which aren't high
ices at all when measured in bushels q
wheat or pounds of beef. There is
ore prosperity more enjoyment,
ore luxury, many times more money
the United States today than ever |
fore in its history"