Middletown transcript. [volume] (Middletown, Del.) 1868-current, 1919-03-22
BY WILLIAM 3. WILSON,,
Secretary Of Labor.

When the German mlIIdiy IVY"
had broken through the western 'front.'
and there was nothing between them
and Paris but thirty miles OF space
If was the boys that we feared we
could not mobilize, that we eoulo not
train. transport or equip, that STEP
ned into the breach at Chateau Ihler-
nv, stemmed the tide of the German
forces. turned them backward toward
Perrin. restored the morale OF the
French and the English armies, ana.
won the victory for our forces.
Surely if we can take peace-tlme
organization and transform 1t almost
overnight into great military ma
chine. we can by the exercise OF the
same intelligence and the same ener-
gv take a military organization trans
form it into peace-time machine.
Before the Federal Reserve ACT
came no provision had been maze 1or
financing our foreign trade; we nau
not developed any large foreign trade
in nroportion to our domestic trade,
and one of the reasons was that we
had not found a method of prOvldlns
the proper credits, except through the
banking institutions Of other coun-
tries. The Federal Reserve Act gave
10 our financial institutions, under
certain restrictions, the opportunity
of establishing branch banks in Tor
eign countries, thereby laying tne
foundation for the extension OF cred
its in the development Of our foreign
trade.
Big Shipping Program.
The necessities of the war compel
led us to engage in a tremendous
shipbuilding program. We have a
very large tonnage now afloat anu
more ships under construction Tor
merchant purposes than any other
country in the world
We have, therefore, already provid-
ed the three great elements necessary
for the, development of foreign
trade, and when we get our domestic
industries into proper operation, ana
orr business men begin to look abroad
for a market for the surplus products
thew will find the means OF vitalizins
these agencies that are already in
existence.
So that our problem resolves iself
for the time being, into one OF de-
mobilization, and the starting OF Oul
business on a postwar basis.
It has been stated by statistical ex
merits that even during our periods Of
Industrial activity we had in the
neighborhood Of a million workers un
employed.
We estimate the total amount Of
unemployment at the present time !!
100000. That, in itself, based upor
our experiences of the past, is not al
alarming amount Of unemployment
The cause for alarm, if any there be
IS the fact that the number is con
tinually increasing, because the mel
who are engaged in industry INT
themselves in an uncertain situation
There is a disposition to hold off OF
the part Of the employers in the hop
of prices coming down. There is
possibility Of prices coming dow
without there being an effect upol
the wage rates. The manufacture
realizes that if he undertakes to GU
prices and his neighbor does likewise
there is possibility of the Who'll
structure tumbling and the prices e
ing down below even normal prof
WAGES at Top Notch.
During the period Of the war on
workers received more in actual, l
real wages than they had ever receiV
ed at any previous time. The cos
OF living had gone up, but the hourl
wage rate of the workers had gon
up almost in the same ratio. Their
were some instances where the hourl
wage rate had gone-up in excess Q
the increased cost Of living; Their
were otii0r instances where it did nc
20 up quite as far as the cost Of Ii,
ing. but the average was very clos
to the increase IN the cost of living
!. However, the workers had steade
employment then they had been in tn
habit of receiving; they worked owe
time with time and half for the e,
ira time they worked, and they worl
Sundays, in many instances. So tn
aggregate they received was create
than they had ever had before. Man
of them have some Of that In EooogV
now that can be utilized and win b
utilized, against any general atteml
TO reduce the wage rates; and becaus
nr he disposition on the part Of labO