The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1919-08-13

city bank. one OF the worlds great
est financial institutions, today an.
aiyEed tho present economic crisis
In an interview with the United
Press. emphasizing the following
points:
the world IL short of the common
necessities of life. and that II the
first situation Go be dealt with.
The high cost ~ living II the ~
suit 81 the wars destruction, which
makes the world short ef necessaries
OF life.
"wage.earners will come out of the
present economic situation the gain.
! ers
Labor may lose now. owing to
high prices, but II win gain when
prices drop. because wages win not
recede In the same ratio.
The present railroad situation
should not be considered as a dispute
between employers and laborers. but
as one OF national policy.
Raileoad Men Misled
Railroad men are misied by mis-.
information. distorted statements
and half.truths.
Railroad Investments as a elias.
are certainly as clean as any other
form OF investment
The public has received fun value
from the railroads. and the best scrv.
ice IN the world.
The general situation at this time
Ia one which calls for temperate
speech" said Mr.. stillman. No
man who has any sense OF social re.
sponsibility win want to say or do
anything that viii incrsass the con-
fusion and excitement which exist
Patience In a great virtue now
The world has had enough fighting
Organized labor has officially en-
dors~d the league OF nations on the
theory that the world has reached .
stage OF civilization where Il ought
20 be able TO devise a better way Of
settling disputes between nations
than BY war.
That general principle 10 Just as
true In disputss In industry and be
tween elasscs as II Is In interna-
tionai affairs. There should DO a
better way to settle them than by
strikes. iockouts Or other means
which entail loss and suffering upon
the public. We should he able to
settle our differences without threats
OF violence. ~ becomes . frcs people.
Any fair proposition will win In this
country In the long run.
CoaAittsns Abnesmsi
The war has interrupted indus
try and made DAny conditions alb
normal. II 10 TresponsibIs for the
hish coet of living By causing q
great scarcity OF all necesxaries- II
Is Just what was TO be expected after
the withdrawal Of 90 many miliioas
OF men from production. Tho remedy
Is in orderly industry. The whole
situation win RICH, itself ~ prcduo
ton IL increased. Food will go down
and clothing VIII b. cheaper.
The country vent thrsuah .
similar situation after our civil war
At first there was scArcity and high
prices. but when industry was fully
resumed we had . long period Of
falling prices. II r. true that In
many instances wages DO not keep
ter are rising. but on the other
hand. wages win not fall ss FAST as
commodities when the latter turn
downward.
Labor generally loses on the ris-
Ing scale but gains on the downward
scale and lasts longer than the
losses
Il venture 10 predict that the
wsxcearners win come out Of the
cline in what they viii buy viii be
greater than In wages. IL always
has been 30. All the improvements
In industry. by Invention and the
accumulation OF capital. work for the
benefit Of labor.
As for the proposal OF the rail-
road brotheYhoods. that In not a mat.
ter TO b. discussed In hot blood. n
IL a question Of national policy. to be
settled by fair discussion. not con
sidering railway owners or railway
employees alone. but the interests Of
all people.
How can the railways b nsoss Fl.
ficientiy operated. 30 that the trans.
portafion charge. which the public
must pay, shall be a. small a. con
sistent with just treatment OF invest,
ors and just treatment Of empioyesy
Railway investors are entitled 10
have a fair return on their capital.
as compared with investors In other
industries. ana employees are snsitlsd
TO fair compensation. as compared
with employees in other industries.
This IL the general principle upon
which the railroad problem should be
solved.
Railway Men Fair
Il don't believe ths railroad men
want any more than that they be.
lieve 70 be fair. but the leaders are
In the position Of advocates and at
torneys. They see one side Of the
case only. and are misied by the
vast amount OF transformation. dis.
torted statements and haif-truths
that are current
The owners OF securities Of the
principal railroads have nothing 70
fear from any fair inquiry into the
value Of the properties. The rail.
road Investments Of this country. an
a class, are certainly as clean as any
other form of Investments
Vastly more money has been
made by the people who have fol.
lowed the construction of new rail-
roads and land and Industrial oppor.
tunities than has been made by In.
vestors In railroads. The rewards.
on the average. have been excessive.
measured by the returns upon other
investments.
There have been unscrupulour