The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1920-07-08

spending winch SelZeQ not only our
own country but the peoples Of other
countries as we'll.
The men who had slept in the filth
Of trench and stable in Flanders and
in France, dirty, uncomfortable, and
wearing coarse raiment, and eating
coarse food, longed for the best that
could be obtained when it was all over.
The people who had gone through the
war as civilians, who had been forced
to conserve, wanted lot Of every
thing. The woman who for months
had to be content with one spoon Of
sugar in her coffee longed for the
time when she could sink her spoon
three and four times in the sugar
bowl that she might make up for
lost time. ttAt sA@@
The consequence Of these conditions
of mind following the war was an un-
precedented demand for all things
consumable, competition on all the
markets Of the world, and . further
strain upon the already depleted world
stocks.
Coincident with this came higher
wages and shorter hours, two Of the
principal elements making up manu-,
featuring costs. We can fairly say,
therefore, that high prices have been
caused BY the operation Of true eco
nomic laws, through the expenditure
Of goods rather than the boarding
thereof. a,
This brings US down to the consider
alton of the present outlook. What
are the conditions, and what are pres
ent tendencies? It seems that we
still must face continued high levels
until such time when supply and de-
mand can meet on the same terms.
We have had many feature stories
lately, and many newspaper scare
heads all about the bottom falling out
of the market, but it would appear to
the careful observer that something
besides talk must happen before any
betterment can be expected. We have
had our fads and our fancies, our
overall clubs, which succeeded simply
in boosting the price of that commod-
ity for the farmer and the laboring
man who has to wear them from nee.
essity. We have even had merchants
putting on socalled sales while at the
same moment they were contracting
for goods for fall delivery at even
greater advances than formerly.
What the facts as the keenest OBJ
servers can see?
~ The whole country is wallow-
ing in prosperity. Commercial fail
ures are at minimum.
(2) There is not enough Nancy
and capital in the country to do the
business that is being transacted or
that the people desire to transact.
(3) The consumer is buying his
needs, the masses being employed at
extra high wages, or securing record
prices for farm produce.
"a Emigration and expansion Of
business have caused scarcity Of
labor.
(5y Wages are the highest ever
known.
(6) Reduction of the hours of
labor have reduced production to a
point way below normal.
Gu Supply of commodities in gen
eral is still below demand. Gay This
is especially true of wheat which the
whole world desires to buy in Ameria,
and of ~ Cotton, in which there may,
be world famine before the depict
ed shelves Of the world are filled with
cotton goods. N
(S) Prices are high and are caus-
ed in rare instances by boarding, but
in most cases by short supply.
10y Bankers have announced a cur
tailment Of credit to manufacturers of
Injuries and non-essentials, to specu-
lators, and to those undertaking large
extensions to plants at this period.
It seems therefore, that there can
be no immediate relief in sight g"
long as, these conditions exist. At
this very moment all Of the textile
mills of New England announce an adj
vance of Is percent in wages. (b) With
the exception of silks, mills are sold
up months ahead in most lines, and
are Offering no goods for sale. (c)
The shortage of some lines, notably
thread, denims, linens, weddings,
neckwear, silks and worsted yarns,
has become 50 acute that no stocks
either of raw materials or Of finished
goods are in the hands of thes manu-
facturers. (d) Today's prices Of
nearly everything are way above the
prices at which most contracts be-