Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-08-16
JAMES A. STILLMAN GIVES
HIS VIEWS ON SITUATION
Head of the National City Bank Discusses
Economic Problems and Ma
tional Issues.

James A. Stillman, successor ia
Frank A. VANDERBILT as president of
the National City Bank Of New York
in an interview laid especial stress on
the following features:
The world is short Of the common
necessities Of life, and that is the first
situation to be dealt with.
The high cost Of living is the result
of the wars destruction. which makes
the world short OF necessarieS OF life.
Wage earners. will come out OF the
present economic situation the gamers.
Labor may lose now, owing to high
prices. but 1t will gain when prices
drop because wages will not recede
In the same ratio.
The present railroad question should
not be considered rs a dispute between
employers and labor, but as one of
national policy.
Railroad men are misled by misin-
formation. distorted statements and
half truths.
Railroad investments as a class are
certainly as clean as any other form
of investment.
The public has received full value
from the railroads and the best serv-
Ice in the world.
Calls for Moderation.
The general situation at this time
is one which calls for temperate
speech" said Mr.. Sullman. mo man
VINO has any sense Of social respon-
Sio1lity Will want to say or do any
thing that will increase the confusion
and excitement which exists.
Patience 10 q sreat virtue Just now.
The world has had enough Of sighting.
Organized labor has officially indorsed
the league Of nations. on the theory
that the world has reached q stage
OF civilization where 1t ought to be
able to devise . better way Of set
ting disputes between nations than
by war.
That general principle is Just as
true In disputes In industry and be-
tween classes rs it IL in international
affairs. There should be q better way
to settle them than by strikes, lock-
outs or other means which entail loss
and suffering upon the public. We
should be able to settle our differ
ences without threats or violence, as
becomes q free people. Any fair prop
osition will win in this country in the
long Tn run: 49,,
and made many conditions abnormal.
1t Is responsible for the high cost of
lying ~ e, by causing a great scarcity of
an the necessaries. 1t is just what
was to be expected after the with
drawal of SO many millions Of men
from production. The remedy il in
orderly industry. The whole situa-
ton will right itself as production IL
increased. Food will 60 down and
clothing will be cheaper.
Scarcity After Civil War.
The country went through q SINH.
lar situation after our civil war, At
nrst there was scarcity and hixh
prices, but when industry was fully
resumed we had q long period Of faii.
ING prices. It 10 true that in many
instances wages do not keep pace
with commodities when the latter are
rising. but on the other hand wages
DO not fall Is fast rs commodities
when the, latter turn downward. ;.
Labor generally loses on the ris.
ing scale but gains on the falling
scale. and the gains last longer than
the losses. 1850
I venture to predict that the wage
eSfners VIII come out Of the situation
the gamers. because the decline in
what they will buy viii be greater
than In wages. It has always been
so. All the improvements in fndus-
try, by invention and the accumuIa.
ton of capital. work for the beneft
Of labor. '"e"'
AS for the proposal Of the railro.d
brotherhoods, that IL not . nafter ~
Dc discussed In hot blood, II in !.