Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1919-08-19

7
pacity. our economic processes are in
| extricably interviewer with those Of
other nations and peoples-most init
mately of all with the nations and peo-
| pies 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 10 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 viii continue to be of
the effect the volume of our exports
| VIII have on supplies and prices. 1t is
Impossible yet to predict how far or
now long foreign purchasers will be
| able TO find the money the credit to
| pay for or sustain such purchases on
sucn 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
r3heir old machinery of trade with the
| ends OF the earth All these things must
remain uncertain until peace is estab-
nsned and the nations of the world have
concerted the methods by which normal
LAG anu INDUSTRY are 10 De restored.
All that we shall do in the mean
time to restrain profiteering and put
the life of our people upon a tolerabIe
| roofing will be makeshift and provi-
sionaL There can be no settled condi-
| ton here or elsewhere until the treaty
| or peace is out of the way and the
work of hquidating the war has be-
| come the chief concern of our govern
| ment and of the other governments of
/ w ~ ITraks
inevitably remain speculative and sway
| now this way and again that, with
| heavy losses or heavy gains, as ii 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-
| tenn is on war basis.
Europe Must Know Situation.
Europe will not, cannot reccup her
| capital or put her restless, distracted
| peoples to work until she knows exact
| ly where she stands in respect tc
| 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
great deal that we can do provision
| al though it be. Wheat shipments and
| credits to facilitate the purchase of our
wheat can and will be limited and con-
| trolled in such 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 it, and we
| do not wish to do so; but, fortunately,
| though the wheat crop is not chat
! we hoped it would be- it is abundant
| If handled with provident care. 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 TIE
| hands of the government will be sold and
! of course sold az 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 can
! 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 it is not likely that the
| courts will often have to be resorted to.
| Much of the accommodating of stocks has
| no doubt been due to the sort of specu-
lation which always results from uncer-
| tainty. Great SURPRISES were accumu-
lated because it 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 danger, of holding
/ off 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 useful example to
| the other communities of this country, as
well greatly relieve local distress if the
| congress were to regulate all such mat
| ters very fully for the District of Column
bia. where it's legislative authority is
/ without limit.
Would Have Prices Plainly Marked.
1 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 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 it does not seem to me that we
| could confine ourselves to detailed
measures of this kind, if it is indeed
| our purpose to assume national control
| Of the processes of distribution.
| take it 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 go beyond the
measures have suggested. We should
| formulate a law requiring a federal
| license of all corporations engaged in
! Interstate commerce and embodying in
| the license, or in the conditions under
which it is to be issued. specific regu-
| lations designed to secure competitive
selling and prevent unconscionable
| profits in the method of marketing.
Law Would Do Much.
Such a law would afford welcome OPP
| portunity to effect other much-needed re-
| forms in the business of interstate ship
ment and in the methods of corporations
which are engaged in it.; but for the mo-
| ment / confine my recommendations to the
| object Immediately in hand. which is to
| lower the cost of living
May I not add that there is bill now
| pending before the congress which, If
passed, would do much to stop speculation
| and to prevent the fraudulent methods of
| promotion by which our people are an