The Washington times., 1919-06-28
mo DECLINE IN BUILDING COSTS

settle down than before? Yes. I think
they will, because wages have con-
tinued to advance in this country
year after year, but the cost of liv-
ing and the desire for luxuries. too,
have advanced so that relatively the
condition is the same"
Theodore n. Vail, president Of the
American Telegraph and Telephone
Company. says:
THE principal cause of the gradual
return to pre-war price levels has
been ascribed to the rapid transfor-
nation of manufacturing, agriculture,
mining, transportation, and business
in general. from hand methods to ma
chine methods, from small scale to
large scale production. Opportunities
do not exist at the present day in any
measure comparable with those of the
period following the civil war. Price
declines so far. since the cessation of
hostilities. bear this out. having been
trifling-only 5 or per cent up to
April 1, 1919. as compared with over
% per cent for the corresponding
period OF the civil war.
Cost of Food VIII Remain High.
Darwin P. Kingsley. President of
the New York Life Insurance Com
pdllS VI NC" observes.
For some years food will he
higher. Europe has been so stripped
OF every sort of food that il will take
more than the harvests of 1919 to re-
store an equilibrium. Food will re-
main high because wages will not 90
back to the pre-war level Wages
will fall at some points, where the
production was overlooked during the
war; but unless our whole Industrial
and financial fabric falls into chaos
and nothing like that seems possible
now-the post bellum establishments
mean continued high wages, and of
course a higher cost for everything
into which wages enters.
How far discoveries in science, in
ventions, improved methods, etc, may
go toward overcoming this increased
cost through Increasing efficiency and
increased production is a question
These will be factor, possibly a sur
prising factor, because the rewards
Will be large, and few things so
quicken invention and efficiency as
the incentive OF large returns.
carry the message to the Bolshe-
Wiki"
John D. Ryan. president of the Ana
conda Copper Company says:
I am rather a firm believer in the
natural economic laws, and I do not
find myself in accord with the impress
sion that many people seem to ha ye
that the level of prices is not likely TO
be radically changed over the decade.
l believe that prices must be made
that will equalize consumption and
production.
Some Prices Lower.
afTNa ho,-a
ments already from war prices, and in
every product in which the companies
with which 1 am Connected are
interested prices have gone back to
averages, and in some cases
lower. These products are copper,
zinc' lead, and manganese.
L do not believe that the level of
prices will fall permanently as low as
before the war, but ] am convinced
that we can now look for gradual ad-
justments in most staple products.
think prices will have to be put
where building and development of
all kinds must be encouraged before
we will see consumption approach
in staples. 1 think in the
adjustments which are necessary
labor will have to contribute its
share, or unemployment on a very
serious scale is bound to result"
Julius Rosenwald, president of
Sears, RoebUck & Co, of Chicago,
states:
1T is my beyIief that the range of
prices for the necessities of life will
average little, If any, lower than at
The present time"
John Hays Hammond, the mining
engineer, says:
LAS regards the future wage scale,
[ am of the opinion that we should
not expect any significant reduction,
nor should we desire such a reduc-
ion. We should not expect a lower
wage scale, because there can be but
little doubt that America faces a new
IRA in her national development; that
he future holds unreasonable po-
that at no time in the
ife of the nation has the outlook
oeen brighter.
From a social and political point
# view, high wages is of inesti-
nable advantage, in that it makes
possible a higher standard of living |
which assures social contentment, in |
lustrial peace. and higher standards
# civilization"
Don't let careless expenditure |
make a sieve of your purse. Buy |