The sun., 1919-01-28
START BUILDING AGAIN.
One Way to Provide Work for He
turned Soldiers and Sailors.

Une why 10 fTONfue NOTk iOr ne
turned Soldiers and Sailors.
To THE EDITOR OF THE suN--Sr: In
connection with employment for our re-
turning soldiers and sailors the follow
ing recently appeared in one OF the edl-
torial articles OF THE Sun:
For smother thing. there Is a sob. gem
orally speaking. waiting for every able
bodied soldier who had q sob before he
went into his eountry's ssrvice. The mill
or this factory. the trading house or the
bank. the printing plant or whatever II
may be. IL glad enough and proud enough
to take care Of ts returned soldisrs-pro-
vided the mill, the factory or whatever II
may be. can itself keep on doing business
How about the carpenters. painters,
masons, plumbers. electricians, plas-
terers. iron and metal workers. roofers
glaciers and their helpers? What about
the architects, engineers, construction
foremen, elevator men. pile drivers,
draughtsmen. enginemen. inspectors and
surveyors? How can positions be found
for the vast number OF artisans in work
connected with the various branches OF
the building industry when there is so
little construction work going on?
Private construction Of building, has
practically como TO a standstill. War
time construction 10 over. Construction
OF public buildings for this purpoee
would be slow to start, wasteful and in
most cases unnecessary. Road building
and public land reclamation will not All
the gap.
Building activity cannot be revived
until investment capital Is supplied to
the market No building loans will be
made until investors are found TO take
Assignments OF the permanent mortgage
loans upon completion OF the structures.
There Is no likelihood OF an adequate
investment demand existing until our
Liberty loans are over and our Liberty
bonds are d!gested. BY opening up the
building industries throughout the coun-
try speedy employment can be given this
large class This can be accomplished
under the following general outline OF
plan:
Let tho United States Government in
the next loan provide for a sufiicient
amount TO be allocated TO the various
centres throughout the country where
and the same reiosned in such centres
on building loans under the direction
and supervision OF regional loan COM
'niss!oners to be appointed by the Gov
eminent. The building loans to become
permanent upon completion OF the i'm
provements and secured by long term
3rst mortgages on the properties at
rates Of interest enough higher than the
rate OF interest paid by the Government
on Its bonds to cover all administration
expenses connected with the matter.
The loans shall be subject to the linn!
tat!ons imposed by law on savings bank
mortgage loans. including amortization
clauses and other safeguards surround.
ing private loans made by conservative
building loan associations and inatitu.
tons making a speciality OF that kind OF
investment These mortgages. being as.
slgnable to purchasers. would be alb.
sorbed by investors before their ma
turity.
The adoption OF such a plan would
have the following results:
Immediate employment would be OF.
sered TO our returned soldiers and sailor,
without expense 20 our Government o,
to our citizens.
Public interest In the next Liberty
loan would be greatly increased.
Activity in many branches OF mer,
I camille and manufacturing bushes.
would be stimulated. Architects woult
get busy, plans and specifications drawn
I draughtsmen, clerks. typewrtters and 6
! host of assistants employed. The Office,
Of the material men and contractor
would speedily open up. Sales OF rea
estate for improvement would be st!,nu
lated. brickyards and Quarries would
/ feel an unaccustomed quicSening Foun
dries and lumber camps would see
/ prolongation OF their war activities
The dormant real estate and mort
gage money markets would becom
aroused. Investments OF corporate AM
individual capital would be encouraged
Objection to tho plan may be made oil
the ground that no private building en-
terprises will likely be undertaken b,
owners, builders or contractors at tn
present high level OF wages and buildini
materials and consequently there woul,
be- no demand for building loans Il
answer 10 this it may he said that tn
steel companies, the brick and cemen
companies and the various manufac
turers OF building materials would b
glad to make reasonable bids on guam
tity orders and at prices considerably
lower than now asked. This wholesal
buying would be conducted by the hea
of the department having the matter 4
charge and would start the des ire
downward trend Of prices
Tho labor unions would doubtless Il
most patriotic manner fail In line (
assist the resumption OF work on tn
part OF so many of their members.
II billions are loaned to foreign coun
tries: II mortgage loans are made {
farmers; II so-called revolving funds o
millions are created 10 make goo
deficits in operation of railroads. 70
= tho sterilization OF the market value O
Liberty Loan bonds and such purposes
is 1t too much for the Government {
adopt prompt and effective measures I
relieve this critical situation?
TRACY II. HARRIS.
! New YORK. January 81.
nj. "a