The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-03-24

are receding; though the downward
movement is slow, and 1t will be years
before pre-war basis is reached II ever.
Wages are not receding and labor diff
f1culties may be expected indefinitely
because until values drop materially
there can be no material change in
wages. 1t is conceded that labor will
receive a larger share in the total
product than heretofore.
This object has already been par
TALLY accomplished and will not be
resisted by intelligent employers, pro-
vided the change is reasonable and
broughtabout gradually, instead of by
violence that would simply destroy
capital and leave labor in a worse po-
sition than ever. Time. spirit of fair
dealing and mutual consideration, il
allowed free play, will surely solve
these difficulties. Business men,
though perplexed, are not discour-
aged, and while cautious are gener-
ally optimistic.
Industry is slack in spots; but, CIV
en- steady prices on lower basis, as
well as fairly stable labor conditions,
it would quickly revive. Big distribut-
ing merchants are in similar posi-
ton. Generally they are carrying
small stocks of finished goods, and
are prepared to buy freely when sat
isfied that prices are upon a more
stable basis. Some large producers
such as the copper men and some
of the leading textile manufacturers,
have recognized this factor and de-
liberately made heavy sales at a loss
in order to start things moving and
stabilize prices.
Foodstuff Situation.
Over million pieces Of print cloths
were sold during the last ten days
at the new prices. Steel manufac-
turers have made concessions of 10
to IA per cent. in prices to meet the
situation. AS for agriculturist, they
are in class by themselves. Their
prosperity for another year at least
is positively assured. We must feed
Europe at all hazards, and that means
high prices and big crops. Our farm
ers should produce to the very utmost
for their own individual good as we'll
as for the starving millions across the
seas. Russia and other food growing
sections of Europe, which ordinarily
produce large SURPRISES for export,
will only have food enough to keep
them alive this year; hence in food
stuffs there will be little decline in
prices this year, If any. and higher
prices need cause no surprise.
Something should be done for the
railroads before the failure of con-
gress to meet their financial needs |
creates serious situation Our gov
eminent seized control Of the roads |
as a war measure, at the same time
wages over $S00,000,000 a |
year. In spite of higher rates and |
various economies intended to offset |
this enormously increased obligation,
which only congress can overcome.
In January the deficit from opera
ton was about $55, 100000, and it is
estimated that the net losses for the |
present year will be nearly $1,300,000,- |
900. The best way out is for congress
TO provide the S720,000,000 revolving
fund which experts assert is absolute
y necessary if the roads are to main
tain their equipment and service, or
make needed improvement and pre-
serve their credit. Some relief was
Afforded by the question of the war
inance corporation to advance $780,
100000 to meet necessary payments
IN April 1. The roads We're taken
,ver as a measure of national self
and simply as a matter of
rood faith the government must help
he roads out of the slough into which
t was compelled to throw them.
Financial Condition.
The event of the week in financial :
ircles was abandonment of the peg ,
n sterling exchange. Such a move
vas not entirely unexpected. Follow
ng the unsettled conditions in French :
it showed that a return to
he normal is proceeding in the finan-
ial world as elsewhere, though it re-
Mains to be seen whether exchange
an be left to itself or whether some
MEASURE of control may again be re-
orted to. If the present rate of ex-
ess in exports over imports contin-
es gold imports would follow were
not for present restrictions which
Jill probably be continued for a pc
iod. 1t is announced that Great Il
britain will discourage imports and :.
Emulate exports hoping to restore
quilibrium in her foreign trade. 1t '
) not expected that these develop {
lents in sterling will have any adj t
erse effect beyond inflicting some e
'sses upon American products stored {
broad and still owned here. From {
ne broad DOint of view tho ctop uoc | c