, 1920-05-27

downward Is to be general and extern
sive. but the cautious ones are inclined
to accept the statements Of certain re-
tailers to the effect hat there can be
no general break yet in prices and that
he cost of living must remain at
about its present altitude until all of
us, laborer, producer, merchant and
consumer, learn a lesson in practical
u~nselfishness.
Present reductions apparently are
due to efforts to liquidate stocks be-
cause of the slackening of demand and
the policy Of the banks in calling loans
and tightening up on credits The
bankers are advised In their course by
the federal reserve board. Their ac-
tion will not seriously affect those who
produce or market necessities, but Is
directed especially at those who sup
ply iuxuries and those who are hold
Ing goods for higher prices. The liquI-
dalton of bank loans will amount to
not less than 10 per cent within four
months. and 1t Is expected It will COM
pei prohteers TO unload their boarded
stocks at greatly reduced prices.
The railway labor board Is working
hard on some plan by which the rail
laborers may be granted all or a large
part Of their demand for increased
wages that will amount Il a billion
dollars. Neither the railway man.
ayers nor anyone else denies that the
men deserve more pay. and In any
case 1t Is evident they must be given
It II rail transportation in America
Is to be maintained. Almost any Of
the railway employees can get much
more money In other pursuits. At
present the board Is considering the
adoption Of a sliding wage scale based
on the cost Of living index number.
Whether organized labor would accept
a reduction Of wages IN the future II
living costs went down Ii a question.
So far, Its policy has been to hold on
will be brought to the test. The slid
Ing scale IL being tried out on the Eng
lish railways and ZONE Of the unions
are moi satisfied with It.
Meanwhile the Interstate commerce
commission has q hard Job relieving
the congestion Of trafic and averting
q threatened coal famine In the Chi
cage region. This was accomplished
to q considerable extent By sending
thousands Of empty cars from the East,
and by means Of temporary embargoes.
The car movement not only relieved
the coal situation, but also helped the
shipment Of other commodities.
The Virginia state Democratic con-
vention has furnished what may be
accepted as in substance the declara-
ton concerning the peace treaty which
President Wilson will ask the national
convention in San Francisco to adopt.
The plank was formulated by Senator
Carter Glass. was submitted by him to
Mr.. Wilson and received the -iatter,s
Endorsement. II reads thus
The Democratic party Of Virginia
favors a League Of Nations as the sur
est. II not the only. practicable means
Of maintaining the permanent peace
Of the world and terminating the In
siderable burden Of great military
and naval establishments. II was to
form this that America broke awny
from traditional isolation and spent
her blpod -apd treasure to crush q
colossal scheme Of conquest.
we felicitate the president and his
associates on the exceptional achieve
ment at Paris involved in the adoption
Of a league and treaty 50 near akin
to American ideals and 80 intimately
related to the aspirations of civilized
people. everywhere
I'VE condemn the Republican senate
for It's refusal to ratify the treaty
merely because II was the product of
Democratic statssmanship, interposing
partisan envy and personal hatred In
the way OF the peace and revived pros
perity OF the world.
I'VE advocate prompt ratification OF
the treaty without reservations which
would impair Its essential Integrity.
Only by doing this may we retrieve
the reputation Of this nation among
the powers Of the earth and
the moral leadership which Wilson
won and which with amazing indiffer-
ence paltering Republican politicians
Mt Washington sacrificed"
The Virginia delegates are pledged
to support Glass for the nomination.
Democrats Of Michigan. indiana and
South Carolina indorsed President
Wilson and his policies and selected
uninstructed delegations.
In Georgia the Democratic conven-
tion, In the control Of the forces led by