The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-08-26
Produce or Perish

In review of the business and financial sit
uation, the First National Bank of Boston says
in part:
It is well to search for means to alleviate the
burdens which the high cost of living is causing
and will likely cause for some time to come. Ger
tainly cases Of so-caled "profiteering" should be
repressed when discovered. At the same time,
the great mass of business men who are engaged
in competitive business will continue to sell in the
open market at the best prices obtainable; and
those prices will inevitably be high until the nat
ural solution of the present predicament takes
place; namely, when the aggregate production of
the world catches up with the demand. To this
end, the movement of labor for shorter working
hours is particularly ill-timed and against the
interests of every one.
Another natural corrective which can be ap-
piled and which would be extremely helpful is a
drastic cutting down of the orgy of extravaganza
in buying which is prevalent everywhere To the
ordinary observer and to those who have access
to the figures showing luxury-buying. this extra
ordinary purchasing is alarming. 1t is not to be
wondered at that following the severe self-denial
and suffering of the war; period of relaxation
and free expenditure should exist. Nevertheless
the quickest and surest way to relieve the situa-
ton is to focus attention on increased production
and curta the growing tendency toward unne-
ceSSary and eXtraVagant buying. Legislation Nm
other directions will have minor effects only.
The Cincinnati Enquirer in a stirring editor
ial on Lloyd Georges recent analysis of cond-
lions, expresses the identical thought which
seems gradually to be obtaining Judgment in our
national consciousness. These expressions from
leaders in all walks of life at home and abroad,
are reproduced to assist in focusing our at
tention the real solution of the question. Says
the Enquirer:
Modified as to degree, but exact in applica-
ton to the United States is the pessimistic pro-
phecy of Premier Lloyd George concerning Great
Britain. When he asserts that the of the
impending debace is under-production and over
consumption, Joined to heavy borrowing and reck-
less spending, he sums up true conditions.
Temporarily America has the advantage over
England in the matter of cheaper production of
goods, though cursory survey would deceive one
into thinking that the cost was higher 1t will
take time for the fatal fallacy now gripping
that country to develop it's poison here. This
error lies in the theory that through reducing
the output steadier work and higher wages may
be insured to the producing classes.
If the farmer were to adopt this economic
policy and put it into commanding effect it would
not be long before the prophets of the Stacking
school would be reminded by their empty stom-
achs of the gross blunder they were preaching
No stilted argument or imposing array of
facts is necessary to convince the producers that
unless the output of the past is maintained and
even increased it will not be long before change
is precipitated which will overturn the present
standards of living and bring on conditions of an
appalling nature If one has nothing to sell he
can purchase nothing. AS Lloyd George said
with fine perception, the world cannot be recon-
structed with touch of Aladdin's lamp Para
phrasing an old motto of French fighter, the
slogan of the times is: produce, produce-al-
ways producer