New-York tribune., 1920-04-11
lard NJ Baruch Is Bidding Farewell to Wall Stree
A Book on Economics May Occupy
the Former Brokers' Time for
the Next Few Months


Mason and Dixon line, but he is,
nevertheless, in the habit of having
his own way.
Occasionally the smiling manner,
the aspect of desiring to please and
compromise, disappears, and you
get a glimpse of an entirely differ
ent sort Of man. This happened
when / asked him if, as conse-
quence Of criticism, he would modify
his defense of some of the economic
aspects of the treaty, which. of
course. Baruch helped to formulate.
"Nc," he shot back, "but l hope
that when the situation is thorough
ly understood there will be a great
many others who will modify
theirs"
LOYAL Friend Of Wilson
Baruch is frankly-almost fsnat-
ically, some might think-loyal to
President Wilson.
He looks upon the President as
one CT the worlds greatest men, and
he holds tenaciously to the. convic-
tion that the plan for the league of
nations recently rejected by the SEN
ate is one of the masterpieces in the
efforts of the human race to achieve
freedom and international justice.
He shows signs Of restiveness when
either is attacked.
In regard to the present indus
trial situation, he is absolutely con-
vinced that three things, and three
alone. will cure our ills. namely,
work, production and economy" :"
Zone way to reduce the cost of
necessities is to increase the supply
Of necessities" he said. emphatically.
IN recent Congressional investi-
cation Baruch said, in reply to a
question, that the peak of under
production and scarcity had been
reached" and that the nation al
ready "was beginning to dig it's way
out of its troubles"
"If that is so, how about the rise
in real estate?"' asked him.
ut mas been my observation" he
replied, with slow emphasis, "tha.
an increase in the price of real es-
tate is always the last phase of an
upward movement in a general ad-
vance of prices, as it is, also, the
last thing to decline when prices are
dropping. This is curious, but
true"
"Then you believe that price. are
coming down."
"1t does not follow that any drop
in prices is going to come inmedi-
ately, or if it does come that it will
be sudden, because there is a large
vacuum to be filled"
"When prices decline will wages
decline also?" I asked him.
Wages Will Stay Up
"In my opinion, wages will never
go back to what they were before
the war, because the worker is now
generally conceded to be entitled to
larger share in the profits which
he produces.
"The working people of the coun-
try have been educated to higher
standard of living than they previ-
ously enjoyed That is a good thing
for ALL
"In my opinion, the war demon
strated what for lack of better de-
scription may be termed the dignity
and necessity of the worker in the
social fabric, regardless of whether
he is employed in industrial life. Ell
gagged In manufacturing. mining
coal, rearing cattle. raising wheat
corn, cotton. or engaged in any OF
the other activities that make up the
daily concern Of the nation.
Heretofore the worker in indus.
try. and the farmer as well, have
not been accorded proper apprecia
ton OF their efforts in economic life
but. as result of better under
standing, they are beginning to re-
celve fairer share Of the results of
their labor. which is only as il
should be.
'1n the case of some salaried
workers, as, for example, the teach.