Arizona republican., 1919-08-28
Strikes and Saving

Even great railroad strike with all the incon- venence it may bring including actual deprivation it should be prolonged will not be without it's com pensation in that it will enforce saving There will be many things the people would like to buy but cannot buy for the that they will not for sale. Many things including shat we have come to regard necessities may not be obtainable, but shall be able survive after a fashion and will have money after the ordeal than had before
 That is enforced saving and those who have taken the clearest view of the high living problem have perceived that its solution chiefly in saving which will attack it from two sides. applying two economic laws It will tend to conserve the supply by reducing the demand and thereby the things so conserved will be cheaper. The other law though equally effective is not generally understood. Its application will tend to reduce the volume money in circulation, it pretty generally recog- nized that one of the multifarious causes of the present high cost of living is the vast volume of money in circulation, cheap money, cheaper than money has ever been since the civil war period.
 We have heard of money going into hiding" and we have called it cowardly. When money has gone into hiding very considerable extent prices have fallen. there has been period of depression. and and then, a panic There are various ways in which money goes into hiding. The older and more primitive for it to refuge the family tea canister and other places where thieves would not think of looking for it. Much of it went into banks where it either held loaned in large sums for investment in lands in great enterprises but at any rate it withdrawn from general circula- ton It still circulated though but in larger and larger channels until at last it collected in the great money centers. It did not flow back through the small channels by which it had been collected. It was no longer available in small sums for the cheaper luxures or for that matter, necessities Price tumbled, and also wages. It was about that time that we began denouncng the money centers and Wall Street and demanding their abolition They were obstructing the free flow of money.
 Yet the money center is essential part of any national saving system just the savings bank is useful part in a community savings system But saving hoarding of money may be overdone with the result, as we have of depressons and panics. On the other hand the flow of money may be too voluminous and free from the high prices which we have to pay.
 With money free and cheap it is now, we might not suffer from it but for another factor the profteer whose activities are encouraged in such circumstances He is out for what we can collect of the golden shower. We do hear much of the profteer when money is the people and the nation saving it. And they will be saving it if there should be strike.
 prolonged strike would withhold many millions of dollars from the railway employees most of whom would immediately put it back into circulation if they had it. Other, and perhaps, more millions would be withheld from workmen in other industries, that within comparatively short time the volume of money in general circulation would so reduced that cheap money would longer be a factor in the high cost of living.
 So, a great railway strike would be a remedy but exceedingly drastic for the ament which has lately caused to make the loudest complaint If persisted in it might bring about the very adjust ment required to put the country on a solid basis again, and at the end of it we should see not only lower and reasonable prices but reduction of now abnormally high wages
 At any rate. it would take our minds off the high cost of living, for during its we would not be living high.
 The seven senators who are pledged to demand