, 1919-08-14

other nations and peoples-most inti-
mately of all with the nations and peo
Piles upon whom the chief burden and
confusion of the war fell and who
are now most dependent upon the CO.
operative action of the world.
Exports Greatest In History.
We are just now shipping more goods
out of our ports to foreign markets than
we ever shipped before-not foodstuffs
merely, but stuffs and materials of every
sort; but this is no index of what our
foreign sales will continue to be or of
the effect the volume of our exports
will have on supplies and prices. 1t is
impossible yet to predict how far or
how long foreign purchasers will be
able to find the money or the credit to
pay Tor or sustain such purchases on
such a scale; how soon or to what extent
foreign manufacturers can resume their
former production. foreign farmers get
their accustomed crops from their own
Fields; foreign mines resume their former
output, foreign merchants set up again
their old machinery of trade with the
ends of the earth. All these things must
remain uncertain until peace is estab-
lished and the nations of the world nave
concerted the methods by which normal
life and industry are to be restored.
All that we shall do in the mean
time to restrain profiteering and put
the life of our people upon a tolerable
footing will be makeshift and provi-
Siohdi IntTt CdH De no Settleu COnul-
ton here or until the treaty
of peace is out of the way and the
work of liquidating the war has be-
come the chief concern of our govern
ment and of the other governments of
the world. Until then business will
inevitably remain speculative and sway
now this way and again that. with
heavy losses or heavy gains. as it may
chance. and the consumer must take
care of both the gains and the losses.
There can be no peace prices so long as
our whole financial and economic sys-
TEN is on a war basis.
Europe Must Know Situation.
Europe will not, cannot recoup her
capital or put her restless. distracted
peoples to work until she knows exact
ly where she stands in respect to
peace; and what we will do is for her
the chief question upon which her quiz
etude of mind and confidence of pur-
pose depends. While there is any pos
ability that the peace terms may be
changed or may be held long in abey-
ance. or may not be enforced because
of divisions of opinion among the pow
ers associated against Germany. it is
idle to look for permanent relief.
Points Out Present Duty.
But what we can do we should do.
and should do at once. And there is
a great deal that we can do. provision
al though it be. whea shipments and
credits to facilitate the purchase of our
wheat can and will be limited and con-
trolled in such a way as not to raise
but rather to lower the price of -four
here. The government has the power.
within certain limits. to regulate that.
We cannot deny wheat to foreign peo-
pies who are in dire need of 1t. and we
do not wish to do so; but. fortunately,
though the wheat crop is not what
we hoped 1t would be. II is abundant
II handled with nrOyfdenf are The
price of wheat is lower in the United
States than in Europe. and with proper
management can be kept so.
Immediate Relief Measures.
By way of immediate relief. surplus
stocks 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 per-
manent correction of prices surplus
stocks in private hands will be drawn out
OF storage and put upon the market. For
tunately under the terms of the food-con-
troll act the boarding of foodstuffs ear
be checked and prevented, and they will
be. with the greatest energy. Foodstuffs
can be drawn out of storage and sold by
legal action which the department of
Justice will institute wherever necessary;
but as soon as the situation is systemati-
cally dealt with 1t is not likely that the
courts will often have to be resorted to.
Mucn OF the accumuiatlnR OF STOCKS mas
no doubt been due to the sort of specu-
lation which always results from uncer-
tainty. Great surpluses were accumu-
lated because II was impossible to foresee
what the market would disclose and deal
ers were determined to be ready for
whatever might happen. as we'll as eager
to reap the full advantage of rising
prices. They will now see the disadvan-
tage. as well as the LANCER, of holding
of from the new process of distribution.
Significant Facts Quoted.
Some very interesting and significant
facts with REGARD to stocks on hand and
the rise of prices in the face of abund-
ance have been disclosed by the inquiries
of the department of agriculture, the de-
partment of labor and the federal trade
commission.
They seem to justify the statement that
in the case of many necessary commodi-
ties effective means have been found to
prevent the normal operation of the law
of supply and demand.
1t would serve as a useful example to
the other communities of this country, as
well as greatly relieve local distress II the
congress were to regulate all such mat
ters very fully for the District of Column
bia. where its legislative authority is
without Emit.
Would Have Prices Plainly Marked.
/ would also recommend that It be
required that all goods destined for in
terstate commerce should in every case
where their form or package makes ii
possible be plainly marked with the
price at which they left the hands of
the producer. Such a requirement
would bear a close analogy to certain
provisions of the pure food act. by which
it is required that certain detailed in
formation be given on the labels of
packages of foods and drugs.
And IL does not seem to me that we
could conhne ourselves to detailed
measures of this kind. IL 1t is indeed
our purpose to assume national control
of the processes of distribution. 1
take 1t for granted that that is our
purpose and our duty. Nothing less
will suffice. We need not hesitate to
handle a national question in a ma
tional way. We should 30 beyond the