The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1920-06-11
PROPHETS AND
PROFITEERS

What would the story have been
if Pharaoh had called Joseph profit
teer and sent HIM back to Jail?
We have been so set upon by high
prices and shortages and freight
tie-ups lately that we are inclined
to be suspicious of everybody. When
our merchants tell us in their ad-
vertisements that this is the right
tine to buy their goods, and offer
us great reductions, quite few
of us say "Oh, piffle," or some
thing to that effect, and go on with
the show, regardless. We are saw
ing our money till the prices rise
again. We are an independent race
of folks, and we like to pay for
what we get.
1t takes long time to get wise in
any line of human activity. It took
clothing manufacturers a number of
years to become acquainted with the
tickle fancies of demand as we'll as
the frivolous frolics of supply. Here
is what the Washington Wooden
Mills company, Inc, of Fredericks-
burg, Va, reports in special bulle-
tin just out:
I'VE are going thru a form Of
hysteria in the liquidation of mer-
schandise thru forced sales and large
discounts, which has both its good
and its bad features
After describing the start of this
| cash-raising movement, in the clos
ing down of bank credit, partly be-
cause they were over-extended as to
credits and then because they must
take care of the farmers raising
crops this summer the bulletin con-
| tinues:
"In this hysteria of liquidation
there are certain points it is wise to
|consider:
First, a tremendous shortage of
manufactured goods was created
thruout the world by the war. Owing
| to la Dor conditions, machinery has
not produced anything like normal
production since the war and cOnse-
quently, an actual and true shortage
still exists in manufactured goods
turnout the entire world.
"The cost of production has not
decreased, but On the contrary, has
increased, and textile labor has been
granted further advance of Is per
cent (they asked so per cent? to
take effect June l. This advance of
} per cent upon present wages is
equal to so per cent of pre-war wage
and is equivalent to an additional
manufacturing cost of 1914 to 20
cents per yard on wooden goods.
Raw materials with the excep-
ton of silk have not materially de-
clined, and consequently, the actual
cost of producing wooden goods and
clothing will be greater in the next
few months than in any previous
period.
mills are shutting down turnout
the manufacturing districts and do
not regret the opportunity to do so,
in order 10 correct the excessive de-
mands of a,or, and it is altogether
possible that there may develop as
great a shortage of textiles and
clothing this fall as has been seen
during the entire war period"
In spite OF this writer's many
''thruouts' and 'consequentlys" he
sounds sincere, and altho he writes
to merchants in the interest of the
| manufacturer, yet we know too
much by hard experience to discount
any sincere prophesy that prices will
be higher. We know how simply
and naturally the cost of things will
rise all up and down the line on
occasion.
This bulletin advises merchants
that in few months they will be
paying for goods at wholesale as
high rate as they are now charging
the trade, and very likely at a
higher rate.
And so we are moved to take at
least second thought when it con-
cludes that "the only possible solu-
ton of the high cost of living prob
lem is curtailment of purchases on
the part of the public and an in
crease in production by manufacture
ers."
Perhaps these folks are prophets. |
perhaps they are profiteers. What |
they say in the report has a hard,
metallic sound Of truth. Prophets
are often called by bad names, any
way, and 1t is wise man that knows
a good A No. 1 prophesy when he
sees 1t. There are plenty of Josephs,
but the world is always short on men
like Pharaoh, who act on the right
hunch.-F. C. X.