The labor journal. [volume] (Everett, Wash.) 1909-1976, 1919-09-26
DEMAND OF LABOR FOR HIGHER PAY
DOESN'T JUSTIFY PROFTTEERING

and guarantee Of just return to in
vestors for every honest dollar in
vested. seem 10 me a sound basis for
q sensible solution Of the railroad
problem
What do you think of the sug-
gestions of Sir Auckland Geddes in
Great Britain and Governor Hard
ing Of the Federal Reserve Board
i'm this country, that the only REM
edy for the increased cost of living
is work and save?'
We'll. 1 should like 70 know
whether these gentlemen consider it
extravaganza for a workingnan to
be forced TO pay 81 for a shirt that
used to cost him eighty cents. If
either Of them can tell a worker
how he may live without working.
or how he can save on present wages
in the face of the high cost of liv-
ing, the day of miracles is not past.
I should ike 70 know just how much
work either Of these gentlemen is
doing and what sacrifices he is ma
king In line with the advice he is
giving to the workers"
''Do YOU find any analogy be-
tween present conditions and those
following the Civil War, when many
industries were forced to shut down
and do YOU think readjustment Of
present unnatural industrial and
economical conditions can be
brought about without a panic?"
There is no analogy between
conditions at this time and those
which faced this nation at the close
Of the Civil War. At that time the
nation was changing from an agri-
cultural to an industrial basis. 1t
had relatively little Industrial pro-
duCtion, but was supporting its cre-
dit balances and gaining national
prosperity by extensive marketing Of
agricultural products and of natural
resources. We have come out Of
this last war the richest Nation. the
one best fitted by man power for
continuance of industrial effort and
by machinery for high-seed produc-
ton There is an appalling need
for manufactured goods all over the
world. There has been no loss Of
production and there will not be.
The adjustments to he made
will he on the basis Of prosperity
in sight for virtually every line Of
American industry, finance and COM
merCe. There never existed so COM
plete a bisis for extensive credits
and for complete confidence in the
future. AS far as world conditions
may be analyzed, the period OF pros
perity seems TO stretch at least d
decade ahead If there is a panic it
Will be a made-tO-order one"
QUA JHe aqoptlon OF pudget
| system ny the National Government
/ help TO relieve the situation by re-
1 ducing expenditures and therefore
/ TAXATION
| The adoption Of budget sys-
| tenn would avail but little in lower
ing costs. 1t should be adopted,
/ however az means toward defin-
[ lie information concerning the
range and extent of Governmental
expenditures and also because its
adoption would give quasi-scien-
tific basis for such expenditures and
A means for ttemized comparisons
year by year. But a budget is no
bar to eXteryagance per Sc. A budget
is no better than its administration.
some persons suggest that we
seem 70 he coming around gradually
to a re-esta blishment Of the guild
system Of the Middle Ages. Do YOU
| think such system would correcT
the evils Of the present industrial
| system
The guild system Of the Middle