Daily capital journal. (Salem, Oregon) 1903-1919, 1919-08-08
PRESIDENT DEMANDS


! the co operative action OF tAt hvftu-
Foreign Trade GREAT.
We are just now shipaing more goods
0ul # our ports to foreign markets
than We tveF shipped beiofe--n0t food.
sfuffs merely, but stuffs and materials
Of every sort; but this IS no index Of
what our foreign sales Nill continue TO
be or Of the effect the volume oil cur
exports viii have on supplies and prices.
Il is impossible yet to predict how far
or how long foerign purchasers wall be
able to find the money OF the credit to
pay for cs sustain such purchases on
such a scale; how soon OF to what ex-
tent TO eign manufacturers can resume
their former production, foreign farm
ers get their accustomed crops fiom
their own fields, foreign mines resume
their former output foreign merchants
"a set up again their old machinery Of
trade with the ends of the earth. All
taess things must remain uncertain un-
tia peace is established aud the nations
Of the world have concerted the meth
ods by which normal life and industry
aIeto be restored All tha, we shall
do, in the meantime, 10 iestrain brofi.
tetiing aud put the life OF our people
anon lolerGble footing will be make.
snifl aid provisional There can Dc no
settled condition here or elsewhere un-
Ill the treaty Of peace is out of the
way and the work Of hquidating the
war has become the ehief concern of
our government and of the other gov
crnments Of The world Until then,
there will inevitably remain speculative
and sway now this way and again that, i,
with heavy losses Or heavy gains as it
may chance, and the consumer must
take care Of both the gains aud the
losses. There can be no peace prices
so long as our whole financial and eco.
monte system is on a war basis.
Europe will not, reeoup her capital
or put her restless distracted People 10
wrk until she knows exactly whelc she
stands in respect Of peace; aad what
we will do for her Is the chief question
upon which her quietude of mind and
confidence and purpose stand
While there is any possibility that
the peace terms may be changed Oh may
be held long in allegiance, OF may not
be enforced because of divisions of
opinion among the powers associated
against Germany, II is idle. to look for
permanent relief.
Immediate Action Urged.
But what W. can 10 we shouiG do,
and should do at once. And there is a
great deal that we can do, provisional
thought it be. Wheat shipments and
credits to facilitate the purchase Oh our
wheat can and will be limited and con.
trolled in sueh way as not to iaise
but rather lower the price Of floul here.
The government has the power, within
certain limits to regulate that. We can.
not deny wheat to foreign peoples who
are in dire need Of it, aad we do not
wish TO do soi but fortunately, though
the wheat crop is not what we hoped IL
would be, it is aboundant if handled
with pfovident care The price Of whea
Is lower in the United Staes than in
Europe and can, with proper manage
ment, be kept 50.
To Release Surplua
BY way of immediate relief, surplus
stock of both food and clothing in the
hands Of the government will be sold
and, OF course, sold at prices at which
there Is no profit. And, by way of a
more permanent correction Of prices
surplus stocks in private hands will be
drawn out Of storage and put upon the
market, Fortunately, under the terms
Of the food control act, the boarding OF
foodstuffs can be checked and'prcvent
ed; and they will be, with the great.
est energy Foodstuffs can bc dawn
out Of storage and sold by legal action,
which the department of uslice will in.
stitute wherever necessary; but So soon
as the situation is Systematically dealt
with II is not likely that the courts will
often hayeto be resOrted to. Much OF
the aeeumulating of stocks has no doubt
been due TO the sort Of speculation
which always results from uncertainty
Greo, surpluses we've accumulated be-
cause il was impossible to forcsce what
the market would disclose and dealers
were determined to be ready for what
ever might happen, as well as eager Ia
reap the full advantage of rising prices
They will now see the disadvantage, ~
well as the danger, Of holding off from
the new process Of distribution.
Food Reserves Large.
some very interesting and significant
facts with regard to stocks on hand
and the rise Of prices in the face OF
abundance have ben disclosed by the
inquiries of the department Of agIcul
tare, the department Of labor and the
federal trade commission. They seem
to Justify the statement that il the
case Of many necessary commodities Of
feetive means have been found to pre-
vent the normal operation Of the law
Q fSuppiy aud demand. Dissegafdine
the surplus stock in the hands Of the
government. there was a greater supply
OF foodstuffs in this country ou June
of this year than at the same date