The daily star-mirror. (Moscow, Idaho) 1911-1939, 1919-08-19

All rights of republication Of
special dispatches herein are also re-
nerved.
WHY HIGH PRICES CONTINUE
Our greatest bankers, college pro
fessors, economists and experts or
sociology are now engaged in the
monumental task of explaining why
the high cost of living is still here
six months after war ceased.
In spite of all arguments the truth
remains that prices have actually ad-
vanced since the armistice was signed
and now the wise men of the world
are giving us many academic reasons
backed by fanciful theories as to the
why and the wherefore.
/ do not claim to know as much
about these matters as the learned
professors that make life work of
economic subjects, but at the same
time l think great deal of all that is
written is nothing more or less than
'strash."
The more one reads the less he
understands, while every week the
good housewife does know that the
dollar buys just trifle less than it
did the month before
High cost of raw materials and the
ever increasing demands of labor are
the two excuses always given when
manufacturers are asked why high
prices continue, but if anyone asked
me to name third and possibly the
most potent of all, l should say it was
the greed of everybody to get all they
can.
A suit of clothes that cost SIS in
1914 now costs $24, and the retailer
tells you the same suit will cost more
six months from now.
Why?
Ask the American Wooden Com
pany, the concern that makes most of
the cloth used by manufacturers in
these $24 suits.
In 1914 nobody with knowledge of
matters financial ever thought the
American Wooden Company with its
huge watered capital could ever earn
a dividend on the common stock, but
the war meant opportunity for this
company, as it did for thousands and
ever since then they have been ma
king hay while the sun shone, or per-
haps it would be more appropriate to
say they have coined money while the
shots and shells lasted
After tasting prosperity it is hard
to go back to bread and water diet
so instead of reducing prices when
the war ended this greedy octupus
actually advanced them.
The world must be clothed and with
all the big European manufacturers
struggling for existence the Ameri-
can Wollen company holds the win
ing hand and so instead of being con-
tent with fair and reasonable profit
they force manufacturers to pay
prices that end with the consumer
paying $24 for $15 suit.
/ do not believe we will have any
relief from the high cost of living
until foreign competition is restored,
and this looks years away.
Congress has passed about thou
sand new laws lately and it would
not be bad idea if they passed one
more which limited the profit on all
necessities.
Congress attempted to curb profit
eering by passing an excess profit |
tax, but how can this do any good |
with companies like the American
Wooden Company that were organized
with capital where every dollar is
sued as common stock was water?
To secure even small dividend on
al this watered stock the company
must hold up the public and when we
look at the quotations on the common
stock and see, how it jumped from
ia to over 500 it proves profiteering
rs sure as two and two make four.
What the American Wooden Com
,any means to clothing, the Hide and
Leather Company means to shoes,
md here again we find the same rec
I'D of enormous profits since 1914.
The Hide and Leather Company
las already paid up back dividends
N its preferred stock that had ac
umulated for over decade, and now
Vail treet is talking about dividends
n the common stock.
The truth is that the American pub
c is paying today for its folly Of al