The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-08-26
Unrest and Lessened Pod elio1 =
Threaten America ) Prosperity
BY GEORGE 4. ROBERTs
[vics-President. The National city

Bank OF New. York;
Nine months have passed sstnce the
srmixtice was signed and the world
turned It's face toward peace. but Il
| IL still long way from normal cons
ditions The governments Of the
countries that were at war are spend
ing money far beyond their revenues
+, and as yet there b but little re0rgani-
zation Of industry for peace purposes.
| In Europe. where the dis0rganixa-
/ ton was far greater than In this
country. production II nowhere near
! normal yet. On the continent the de-
struction of property, loss of life. de-
terioration Of railway property and
OF Industrial equipment, confusion OF
I currencies and collapse Of cetdit
!, make a situation which under any
circumstances would be difiicult, and
when the revolutionary social agita-
! ton is added 1t becomes desperate.
In England the physical losses are
not SO great. but the social agitation
! Is bad enough to interfere seriously
with recovery.
In this country up to the middle OF
: the year conditions were encouraging.
/, After three or four months follow
ing the armistice, when there was
/. slump of prices and employment,
things began TO look better. and by
i June the outlook was encouraging.
/, There were forces making for dis
order here as elsewhere, as note the
attempts ut revolution in Seattle and
| Winnipeg and numerous disorderly
| strikes; but, on the whole. industry
was tending back to normal state.
! Wages and prices were high, but a
great crop was In prospect which
/, promised TO relieve the strain In
! some degree, while bringing re-
munerative prices to the farming
! population.
! Since July matters have taken a
/ bad turn. due primarily to deterio-
! ration in the crops. Infavorable
weather conditions has SO affected
: them that. while they are still abund-
j, ant for our own use; there will not
| be the great surplus which was ex-
pected to not only supply Europe.
but fill up the empty bins and cause
| lower prices everywhere. We have
no bumper crops, and therefore the
i reduction in food and clothing prices,
which is necessary to general price
reduction, cannot be expected.
with the deterioration Of the crops
there was a natural stiffening OF
prices In foodstuffs and clothing ma
| terials. and this prompted a buying
! higher. The buying was not only for
! home consumption but for foreign
markets. The June exports were far
above any previous record. Foreign
! countries bought heavily OF cotton
! goods an leather, both of which rose
| rapidly. Sensational statements have
been current in the newspapers as to
what shoes and clothing would cost
| next year. labor troubles have multi
piled. and finally came the extraordi-
nary pronouncements Of the railroad
brotherhoods.
The utterRnces of the chiefs Of the
railroad rainmen are most disappoint-
! ing, because the business community
has been accustomed TO place confidence
! iii these men az intelligent and well.
! informed as well as good -inten ton ed
[, citizens. They have always disclaimed
revolutionary PURPOSES, and certainly
! the rank and file of the railroad orders
as individuals are good citizens. II
4, J.; true that the chiefs gave shock b
| the country two years ago when they
! under a strike threat. but even so the
business community was not prepared
fer the extravagant utterances which
/ have recently come from them.
/ Congress has been proceeding for
some months. as expeditiousiy az pos
| stble with the task OF inding 4 solu.
| ton for the railroad problem. The
| proper committees Of both houses have
Lad hearings upon the subject and are
, formulating bills. II being the common
understanding that there would be nc
postponement action and that some de-
! termination would be reached this year
! Indeed. this seems to be the exp!ana-
tion Of the action Of the brotherhoods
/ They have not been content to allow
congress to follow the normal course
| Of legislation, or TO present their views
az other citizens are invited to. Their
1 dc mands were presented in such man
, ner as to create alarm throughout the
business community They carried the
| idea that unless complied with the rail-
! reads would be closed to traffic. the
(, gr eatest possible disaster which could
! befall the country. 1t Is difficult tc
understand how any body Of men car
! have such distorted idea Of their
own rights az TO seriously consider thu
! IL, fiction Of such calamity. Such q
| threat is far bevond being an attack
apon the owners OF railroad property
/. IL is "A menace to the government and
| MI Of the people of the country. So
!, long AZ any probability exists that .
| &C rlcerted action to tie W the railroads
/ Will he taken, that liz the most impor
tant fact In the businesA situation j
; is a matter Of vital concern that sucf
IA threat should be made. and that such
"a possibility should exist. In no sthe'
: way Is the common welfare and pros
] nerity SO at the mercv Of a group o.
/ i,dividuals. and the idea that any krouI
| should claim such power Is intoferAbie
How can men safel~ plan for business
operations with such a threat hanging
! over theme Upon what theory OF SO.
J e;al relations can the men who have
happened to be employed upon tn
railroads claim the right to exercis'
such mower over the entire nattonA
/ l,fe--to paralyse industry. THROW mil
lions out Of employment. cut on the
, movement OF food into cities. and Aisor.
ynnize all the processes Of orderly com
! rsunity life.
! The supreme court Of the unitet
! states. by it's decision upon the Adam
sen law In 1917, established the para
1 mount authority Of congress- over tht
conduct Of the railroads. definitely set.
| Ting that the rights Of both owners
and employees were subordinate to tht
rights OF the public. President Wilson
At that time also took the position that
while the right Of m employe to OUT
! work BY himself would not be aues'
/. toned. the right Of . BODY Of employees
10 conspire to tie up the roads couit
! not be admitted. Public opinion shouft
make itself felt 10 definitely upon THU
! point that this menace will cease.
! ~ h&~>u>