New-York tribune., 1919-02-08
i. S. Boardt to
Fix POSTWAR.
Prices Asked
Secretary Redfield Says In
dustrial Leaders Want
Basic Amounts Arranged
Labor Also in Agreement
Naming of Experts by Wilson
Will Give Security Needed
by Interests, He Declares

WASHINGTON, Feb. 7.-President
wilson has been asked to name a com
mittee of industrial leaders and govern
ment representatives which will have
the power to investigate and suggest a
scale OF prices for basic commodities
at which the government will buy dur
ing the postwar period, Secretary of
Commerce Redfeld announced to-day.
The step was taken after conferences
or producers and labor representatives
and government officials who were
unanimous, Secretary Redfeld said. in
recommending it.
Mr. Redfield explained that no legal
authorizations by Congress would be
necessary and no use of the govern
ment's war powers was contemplated.
Conference Is Called
He made the following statement:
"Following a series of conferences
between members of the Cabinet and
others, meeting was held in Washing
ton on February 5, which was called by
the Secretary of Commerce, to consider
the industrial situation with particular
reference to the unemployment prob
lem and the prospect of resumption of
active buying. At this meeting were
present number of the former heads
Of the more important divisions of the
War Industries Board and representa-
tives of various government depart
ments.
1T was recognized by the meeting
that a considerable amount of unem-
ployment existed and that with the re-
turn of the troops this unemployment
would tend to increase. 1t also was
recognized that in large measure the
unemployment was seasonal and due to
the lmpossibility of carrying out open
air construction in certain states. at
this time of the year. 1t was agreed
that a second important cause was the
reluctance of buyers to purchase more
than their emergency requirements at
the present level of prices, and it was
felt that determination of a postwar
level of prices for basic comm modities
was urgently needed.
New Level Es Needed
at was the general opinion, illus
trated by many specific cases, that
large latent buying power existed in
the country which needed only a salts
factory level of prices to become eff
fective. 1t was pointed out that the
establishment of salts actory level
of prices at this time offered par
tlcular difficulties, because war prices
as fixed, are recognized as abnormal.
On the other hand, there is no pros
pect in the immediate future of the
restoration Of pre-war prices. 1t was
felt that wages would remain on a
higher level than before the European
war, and that no readjustment in the
true wage of labor as measured by
purchasing power should be attempted,
though it was felt that as the cost of
1oh
agree to corresponding adjustment
IN money wages.
''lf events are left to take the
natural course the establishment of
postwar prices would probably be a
difficult and protracted matter, since
prices of one comcdity affects other
commodities, and producers would wait
for one another to take the first
step: Such course of procedure
would involve much unemployment and
loss to both labor and capital.
at was the sense of the meeting that
the fine spirit of voluntary coopera-
a valuable factor in the conduct of
the war should be availed of to case
and expedite the processes of read
justment, and that the manufacturers
of the country would be willing to take
the first step. After full discussion
Of the situation q resolution was
adopted asking the Secretary of Com
mere to seek the approval of the
President to the appointment Of
committee to deal with the situation.
'It was contemplated that this com
mittee should call into conference the
representatives of the basic industries
of the country to examine conditions
with a view to the formulation of
scale of prices, at which the govern
ment departments and other buyers
would be justified in buying freely and
at which manufacturers would be
willing to sell with a view to maintain
ing and restoring business activity to
full value.
"It was felt that time was the very
essence of the problem, and that,
therefore, the appointment and action
of the committee should proceed with
all possible speed. 1t was believed
that public announcement of the con-
cluson of such committee would
have great value in establishing con-
fidence in level of prices and would
be accepted by bankers and others as
Z, Loc;o nraIi4