The Butler weekly times and the Bates County record. (Butler, Mo.) 1918-1950, 1919-03-13
READIusTMENT OF WAGES
AND PRICES SOUGHT
Board is Named to Hasten Return of
Economic Conditions to
Normal.

ANOSluoAs
4 Washington. d. c., March o.
Completion OF the personnel of the
industrial Board OF the Department
OF Commerce. together with the
plans OF the board for Fastening the
return of prices and wages to nor
NAL level. was announced today
Through the Council OF National De-
liense..
Associated with George y. Peek,
loi Moline. H., former member of
the War Industries Board, as chair
man OF the new organization, are
i Samuel Z. Bush, OF Columbus, o.;
Anthony Canlinctti, Commissioner
OF immigration; Thomas X. Glenn Of
atlanta. Ga; George X. James Of
AIemphis. Tenn; T. G. Powell Of
Cincinnati and William NJ. Ritter OF
Yves, Virginia.
The chief purpose Of the new
board. it was announced, is to bring
about the operation OF the laws of
supply and demand interfered with
by the process of war To this end,
conferences will be held with repre-
scntatives of the chief industries ITO
decide on prices to be offered to the
nation as the Governmentally APP
proved judgment ON price scale low
enough to encourage buying and the
resumption of normal activities
| AS soon as stable and whole
some scale of prices is achieved"
said the announcement, the cost OF
living will have SO far been reduced
to create automatically reductions in
the price of labor without interfering
with american standards and ideals
ior the treatment and living condi-
tons OF labor and thus the last in
Hating element will have been with
drawn from prices. 1t is believed in
dlstry. will agree that the cost of
living must be substantially reduced
before labor should be asked to &C
cept lower wages and thus industry
should stand the first shock OF read
justment.
Basic commodities. such as steel,
| building materials, textiles and food
will be considered first and brought
to a stable basis. The governmental
policy as expressed by the bill to
ment OF wheat at the guaranteed
price and resale OF it at the world
price. is to assist in bringing prices
OF basic commodities to normality by
bringing down the cost OF living. 1t
is hoped these steps alone automati-
cally will operate to reduce the price
OF fabricated articles. If they do not
do SO in any particular case. the in
du>try affected will be invited into
conference.
The assurance OF the country of a
market stabilized at the lowest rea-
sonably expected level, will loosen
such a flood of buying for the reac
ton OF stocks. the making up of ar
rears in the building program, the
feeding OF needs long starved by
economy and the evasion of world
markets. as7 may stand unprecedent-
ed in this country. From the stable
level thus reached by cooperation,
We may expect healthy and normal
condition creIed by the complete
and unhampered operation OF the law
OF supply and demand"
In reply to the objection that a
general reduction in selling prices
now will force industry and COM
mercc to take a loss on products pur-
chased at war prices, the boards an
nouncement said the losses under the
proposed plan would be less than if
industry were required to await a
natural readjustment with its con-
Sequent long period OF stagnation.
The normal operation OF the law
al supply and demand, said the
| statement. cannot cure what it did
not cause. first, because it cannot OPP
crate until buying begins. and sec
| ond. because buying cannot begin UNI
| til we have more normal. stable and
| homogeneous market.