New-York tribune., 1919-02-13

here, not upon such scale
IN the bad winter of 19o7snss ae
enough to make it subject ~ aa.
our thought. because the eneu. .us SER
society are taking ADVANTAGE .uiles a4 q
our midst to teach their daN VI IN
doctrines. The Bolshevjk is Ib0assfous
finds fertile soil for HE ousy and
IN IN lhe m 9narchy of mind which sias' ss
OF my associates has said. arjsss ~ Oas
HraIiy from an empty stomns, ss asl'
strangely enough, this situation 'V'sasa as
enploSmenp IS accompanied by st-;tul W
50 that to Involuntary unemnI0mAesl Io,s.Aesl
there is added the voluntary linSs lfirvSsnsni En-
nave seen the fruits of these ~. Ne
mons in Seattle, Butte and elses,saOl' ,SaOl'
ne most dangerous part of tb;s maefe m
Will pass with the OPENING gstod
spring, for then employment y, va In
doors opens to many wavs and VIII vus o.
lax the situation. Before tbar "'n re-
effort must be made to restnr tn every
normal course of business 'S.e sc Wv. .ae
as possible. Time is of the yerv 'pvsully sssay
OF value now and what is tod" .''sace
IS worth much more than if i ;ai u0A'
on until tomorrow. S' pu
i"o ways OF dealing with tbe q.
uatlon are proposed. one from tbo s' ~
down the other from the hottn,s '0P
Al commerce rests on individual N.Y. W
chases. The great, imposing fahr;pp p4', !,
our industry stands upon the hss;s ', ',
What IS bought by the indiyjduslssS sS,0 ".S VI
posing the nation. If every one 'ss ssossl, .un,
buylng there would be no comn,om"IS Ssvppea
INDUSTRY. To the extent theu ON sM
DuylnG, commerce and Industry sl..l4p s'0p
ne suggestion has gone forth I,'.aea .ssa
WINE we must save for taxes. for 'as 'ns
loans and because, most imnortoM ~, SM
az, a. we must not lose the habit =, y
enrllt 'he war has taught US, still .b.,,
are necessities that everv one ,nv,s mv..
from time to time have. 1t would a'Is Il
wen II these necessities were bongS,s.
once, Tor every such purchase cont,;s
u'es TO the demand for goods and so
tne demand for making goods and so ~ ~ y
the demand for labor. Each of ne NJ"
co modest part in this wav II s msS
mean little sacrifice here and tbor.s
paying at the moment a somorl.. :.
hlgher price than we might rrA' nav
month or two later, but we have h,
come accustomed to sacrifice for Il,
country sake and this suggestion 'I' u
maze Tor the sake of the country RI,
only what you need. but buv # M,
seems good patriotism.
"on the other hand. large gens,.
business transactions await confderc
IN a substantial, stable market NiI NJ,
hesllate to make important comma
ments Tor the future when nrices ~.
dropping. 1t has been proposed h.
business men and employers of lsrs,
experience that the government shoEi
make an effort, through a yolnn,ss,
committee, to call together the renrs.
sentatlves Of capital and labor in orr
industries and discuss frankly with
them what can be done in the way q
bringing about promptly the reduced
prices which all alike expect will BE-.
lore long prevail. This is purely q
matter Of consent, not one Of author.
lty. 1t is not in discord with econOmle
law. 1t merely seeks that men sbsg
agree to do that thing soon which eco.
nomlc law requires sooner or later Il
IS not price fixing. 1t is volunar
without any element of compvso1
The proposal has the approval Of tbs
Board, representative Of the Federal
Reserve Board and the War Finance
Corporation. and thus far has been sp-
proved by every man of affairs and d
finance to whom it has been presented
Many of those whose affairs would k
concerned have approved it. As thl
IS written it awaits the approval Oft
President
at is normal that capital should isi
its own sake take the first shock Of IT,
adjustment, for capital can absorb thiI
shock more readily and react nor
quickly than any other element amoil
US. It is, fortunately, the spirit Q,
men of capital to day, and has best
widely shown to be so that they nt
willing to take this view Of the matut
and to do their full part in making tie
necessary reductions without imposing
serious burdens upon labor. 1t is est'
nestly hoped, and the hope seems TO h
IN measure sustained by facts, thS'
the prices of commodities may in thl.
and other ways be reduced, so that y
1t should become necessary that ther'
should be reduction in the daily rs,;
of wages it will not be required until
prices have so fallen that the relaus,
rate Of wage will either be sustaana
or even enhanced.
at cannot be expected that pricc
shall fall soon to their prewar le's,
Too much has been destroyed, both d
merchandise and of productive equs'
ment, to make that possible. There
a great vacuum to be filled. The bul.
ing world in many countries has bsan
cconomizing sternly for some year
past, and when once they get confdenI
that reasonable price basis has oee.
reached they Will come into the mafs'
in such a way as 10 sustain prices s".
possibly IN some measure even tof
time to raise them. Every one agrs',
that this great latent business demsl.
is here, ready and waiting. The gres''.
the need, therefore. for using ever,
effort TO bring it into active effect y
soon as possible