Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1919-09-29
WORKING Xxi c; AND SAVING
villa. REDUCE PRICES
asskfndr of,;Frd.ral Reserve Board
!:TslsHHoW Lying Expenses May Sc
!, .Sdtfboiyn..-Why Everything Went

t.S tsk.:i H.. 80 - -;
,.WhaE ;ls the best way to; reduce the
hi&dsJst u living? !, = II
IN OH and save is the!:sns"er'6iv-
ga by the. Federal Reserve Board In
letter: written by .itsg sqyef;issor,, y T.
A.3iHssding; 10: the BtaKilig Commit:
t..e of the. United statsssseustss The
com: iaistee had under consid liberation the
hr6rosal to, reduce. the, volume OF
a2i;,::.; SCI i ctscalaaion.;s!!aa oaellhoa' Hard:
ing :oppases tHfE;plan, hold:nsi;that i
fiisros afford TIE rsl;st IS fses ed !
'ShG Federal Reserve Board abe.
hasest., says slos!elnor' Hdfdiitg:.in::' Nils
ictteu.. ,tnat any cnrreaciF Legislation
aEi.his, LIMO. is .al.necessaTy and unde-
s,rabJs, and :RSould suggest :hap 8heth-
e. viewet Sroal an economic CT. sfinan-
Ella. seanupJtr.t, the :repn dys; fos TIE
present tsi,ua llon IL ting same, !paale 81!
& ,vorr ana 70 save; toi work ;rssular;
j. ant sir:t Gnpyln urdet:'ye.:pf6dude
lnG 3istribcts the .largsss% ,,poSss BIS
tolums OF rQ,nmodities. and :to sxar.
tisc Ecasonable economies in order !:
;ba. nionsy.. goods and :seGYseses TtaN
). !assoted primarily to. tHeti&nida:
::,ior It debt aud to the satisfaesion3;s o
Die; 5smand for necessities: ia bar
.kan CO. Indulgence In :: e8traNatssasr ssess
D., .ho qualification c. the desiss.:i.ssso,lr;
:nca,tlss": FL, 4 sas}i,y:,
Ei,ins the; lssttwo yaaFs EtheE lhas
1uIcub tedly taken place certain
arsSspn, yt =rsJitil expansion; GoyergoR
Halvin.: snuws. and this;dhn, tae Cir;
.unstances connected with. the;;fnanc<
inFN 1t the war,s..Sas tinevUab9erES Bntsit
~i!I % CORRECTED as. the a8ecnrt.tE:as
3es,1.t b., tip governments ,fpE NFar
5utposas are gradually absorbed by IN.
tskaoys, rEie expansion foe credits is
a18.l &c ia. difference, lner,
Aasdins sag. between the total. gasa
expenditures Of Inc government aad
tbs so!sl amounts raised by the, y.
siNnens through the nieuilnn Of t3 AZ !: ?
ton and from the GALE %. its bends
and other Obligations so iaciaa sneSt
vets paid: FOR out OF 10 'savi;fGs:;; OF
Cha: people. He does Eo:; tcIie:..eahs
any -eiiaple estimats j me- a4iGsr:
en9e can be ,;iads. t2,.''i@ Is ttsitive
that, shalossrljt Is, 4 I'll, II :Srat.
aasy sDsocbed through lo'o,s >a:,s loss
Tor tue. reason that banks ess ierg'gs
ana 6tay aiSsIs be expected so.sshl
freely. III the .ssoyernnent a,ues 10,
posted as collateral.
The princlpat cause e ,tlFR ~
saates just before and during the pei
led OK the war was the ncft e. M
gove:nments OF the alice uauer1 20
all kinds Of commodities Rn1 = II :
mediate delivery in large .Eo1nst,a, tr':
the "cempetit!or or THE .r1E>i,5 -
governments with purchase - -"
vate individuals who isiied - x, =
their expenditures at Sc t.it.A;; go;
surnte with The growing 80 f;sssA.:lS !
II these governments.
One OF the, features ci - ptaE %
pe.sod. through which tha r%tEs :
now passing and wh,cc az -:s@
marked by Using prices. i te =.
era. relaxation Of war-tins l5:.'.' ,
personal ECONOMY. This ras go u
III an Increased demand ior fo1- at
osning and other conmouih:s' ~
many persons who during thss ~,
practiced more or less risid s@,':-
omy in ,nsir psrsoaal purchases 80.
It must be pprne in mind tha% re.
are. not only buying at market r'ices
but are buying IL competition nth
the export demand. In addition sarss'
~ increased wdges and incomes dur,
ing the. last Ave years Have developed
demand for many commodities vhie
areyror of real necessity. This saat.
urally has diverted labor and raw ano
manufactured materials from essen
tials.to non essentials. Contributing .ne
amsni part % the trend sf hsrsesn
costs