New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1920-12-24
CONGRESS WILL
TACKLE ECONOMICS
MEASURES FOR RELIEF OF THE
FARMER AND STOCK RAISER
ARE CONTEMPLATED.
MAY BE MERELY TEMPORARY
How to Override the Law Of Supply
and Demand Without Adopting
Freak Legislation Is Problem for the
law-Makers.
BY EDWARD 3, A

BY EDWARD B.. CLARK.
MISUNDERSTANDING conditions
In the country probably will force con-
gress at the present session TO take
some measures looking to relief. TAX
Ing out the Christmas recess, there is
less h three months time for the
prosecution of the governments legis-
lative business this winter, but not
withstanding this and the fact that the
appropriation bills must be passed, 1t
Is probable an earnest effort will be
made to do something for the relief of
abnormal economic conditions. espe-
cially as they affect the rural districts
and their industries.
What Is going to be done? Nobody
knows. 1t Is a hard thing to override
the law of supply and demand without
getting into the field of what the legis-
lators call freak legislation. Commit
tees are at work on his matter now.
The members disagree among them
selves as to what should be done.
Something may be worked out, par
ticularly for the relief Of the stock
raisers and the agriculturists Of the
country. but whether 1t will be legisla-
tion Of lasting value. or whether II
will be simply something which will
help one branch Of industry while
hurting another. remains to be seen.
Certain 1t is, however, that something
will be attempted In the way Of legls-
latiOn TO offset slumps in prices of
agricultural products and the derange-
ment Of credits to the farmers and
stock raisers.
Freak Measures In Plenty.
Whenever congress attempts TO leg
islate on economics along any lines
except those which follow the con-
sentative direction Of the oldtime sign
posts, there appear on the scene the
representatives Of all kinds of schools
OF economic thought, from that Of hide
bound reaction to that Of Lands End
radicalism.
A study Of bills already In congress
intended to act as cures, Or at least as
palliatives Of present economic condl-
lions. would disclose many freak meas
ures, Ill considered and III founded, ac-
companIed by other measures well in
tended, the result Of thought, but which
after all may not bear the analysis Of
the students of the laws governing sup
ply and demand and those governing
sound finance.
Ii takes only a short survey of the
field of the proposed legislation IN IN
gress to disclose the fact that on all
economic and financial questions the
supposed experts and authorities dis
agree radically n from another. It
Is a difficult thing for legislators 10 de-
termine what's what when, In commit
tee assembled. they listen 10 one an
nounced expert who declares one thing
emphatically to be a truth and then to
another who says that the first experts
truths are all f~alsehOods.
Conflicts Of Experts.
This sort OF thing occurs In commit
tees every time that any hearing is be-
ing held or subjects of high economic
import. When the Aldrich-V reeland
financial measure was before congress
in the late fall OF 1907 and the early
winter of 1908, financial experts we're
called to Washington from all parts Of
the country to give advice as to what
should be done on this point or that
point In the proposed legislation.
There were bank presidents here.
chleftains of the largest financial insti-
tutions in the United States. but TO
the manifest mental disturbance OF the
members Of the committee these men
ganizations for years were at opposite
points OF the compass on the question
OF what ought to be done in this matter
or that matter to make conditions safe.
Congress, however, In the instance
named, succeeded In turning out some
Legislation which In part became the
foundation of subsequent acts that led
to the establishment of the federal re-
serve system. 1t may be that this win
ter something can be evolved which
will enable the to buy at
lower prices and the producer to sell at
present or higher prices, but It must be
confessed that some of the Legislators
I'm talking about this thing say that
such a result. II 1t car be made lasting,
will be one of the miracles Of Provi-
dence. Natural laws. they say. have a
habit Of resenting intrusion into their
field Of the laws Of the artificial.
II is the intention OF the lawmakers.
however, irrespective Of party, to at
tempt to do something which VIII al
present economic conditions.
The welfare Of the people they say IL
not a party matter. There are vary
ing views as to how the thing Is TO be
accomplished. but congress is on its
way to accomplishment of some kind,
and the hope is expressed that some
thing will be done before March 4.
Preparing for 1924 Campaign.
Political activities of the two great
n arties never cease. Already the
Democratic and Republican national
committees are laying the ground
work for the campaign Of 1924.
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