New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-03
The H. C.. of L.

The II. G.. of
The House having promptly sgreed to
remain in session to combat the adver-
sary, Higher Cost Of Living, it remains
TO be seen whether conjoined wisdom will
achieve anything to the purpose.
Perhaps, but only perhaps. 1t is worth
while to consider some reasons for doubt.
In the first place the problem reeks with
opportunities for demagogism. 1t sum-
mons ouackery and sham and every sort
Of substitute for Ersatz product 1t fur
nishes mask to those who cover indif-
ference to the people by pretence OF
extreme soiicitude. The buck of blame
is likely to pass too rapidly to be seen.
Not long ago there was great anti
trust campaign which provided no nutri-
ment. The fascos of the oil and tobacco
dissolutions merely showed how inept
and ridiculous is our public leadership
when it tries. The roundup Of prices
may dribble off into another vain attack
on forms of business organization-to
economic advantage of lawyers who con-
duct the litigation, but practically to no
one else. Already the Federal Trade
Commission has it's nose on tie old false
scent and another journey up bind alley
is started. But there is not the zest
there was in the old halloo, and the COM
mission may be diverted to work less
arid. The ringnosing of monopoly is a
worthy pursuit, but it has elements Of
tiresomeness to public which sees that
prices have gone up less in the domains
of big business than in those of little
business. .,.
Prices are up. A huge initiation of
money and credit has come. With more
dollars and heavier loans by the banks
and no corresponding increase in the
aggregate of commodities, the law of
supply and demand has had its usual
effect. Senator Myer has bill to COM
pei defation, but it has little support,
for it is generally recognized thai the
evils of a forced contraction of credit
would be greater than those Of imitation
Loud is the cutlery against a deprecated
dollar, but we would have it remain.
SO the demand is not so much for
defation of prices as a whole, as for
more equitable distribution The group
seemingly the hardest hit is the great
army of small investors, not engaged in
active business, whose actual incomes
have been almost halved Capital of all
kinds has shrunk, but the big fellow
has had offsetting gains.a Victims with
the small capitalists are, of course, work.
ers in vocations where compensation is
conventionalized and Observation-Disclosures.
preachers, public employers. clerks the
white collared in general.
The gains have gone chiefly to agri-
culturists, to workers employed in indus
tries where wages quickly respond to
spectators and to men in businesses that
greatly expanded.
If there is to be an immediate remedy
it must include the trimming of the extra
profits of those who are enriched. The
1925 wheat is near the heart of the high
living problem. This guaranteed price
has affected the price of other grains by
decreasing the number Of acres available
Tor other uses, and so mas pushed up
the cost Of meat, of butter, of eggs and
all forms Of farm produce 1t seems
essential to discontinue the wheat guar
antee and to market the government
wheat even though the Treasury suffers
grave loss.
Wages in industries where the wage
increases have been large need to be
narrowly scrutinized to ascertain whether
or not living costs have outrun ware
enhancements. No group can be trusted
TO judge. this matter for itself. Statistics
of all kinds are in circulation and it is
necessary to be sure Of true ones. If
social justice is to be done. public agents
and arbitral boards must show more
resist than hitherto.
For the spectators and the makers Of
excess profits it is perhaps possible to