The Washington herald., 1920-12-12
Civilization Menaced by
Wars Devastations,
He Declares.
DEMANDS LARGER
SHARE TO TOILERS
Present Depression Was
Bound to Come, and Is
Healthy Sign.

NEW YORK, Dec. 11.-"Unless the
great body Of men throughout the
world work with might and main to
restore that which has been lost by
the destructiveness of the war. this
world will sink to a lower level of
civilization than we have been ac-
customed to enjoy" Charles NJ.
schwab declared in an address at
the annual dinner OF the Pennsylva-
MIA Society of New York tonight.
Schwab further declared:
The more severe the present bus
mess depression is, the sooner it
viii be over.
IF the cost of living is reduced.
the laborer can maintain his pres
ent standard of living even though
his wages are less.
No Place for Loafers.
There is no place in America to-
day for the loafer.
THE aborer should receive his
full share of the wealth he pro-
duces.
efficient production is the only
guarantee of employment and higher
wages.
The government must set an ex-
ample in economy and thrift
"Uppermost in the minds of
American citizens today is the ques-
tion: What is the meaning of the
existing slump in business and what
of the futureT
"The existing moment is full of
difficulties and complexities. But
want TO go on record as saying that
nothing could be healthier for Amer
lean business than the very condi-
tion through which we are now
passing. 1t had to come. l only wish
IL had come sooner. The severer the
storm is now the quicker IL will be
over and the sooner we can emerge
into clear weather.
Have Used Extravasant Methods.
The result Of fhis experiences
through which we have passed Is
that our costs have been inflated
and We have had In America both
our business institutions and Ameri-
can individuals generally indulging
in wasteful and extravagant meth
DDS. The supreme virtue of the ex-
listing situation is that 1t is COM
pelling every business man. in fact,
every individual in America. to exs
anime thoroughly his costs of doing
business and his costs of living
The great need of the world to-
day is to work hard and save. This
applies not alone to the laboring
man. but to the man of means"
The man who fails to do his part
now deserves no place among honor
able men, any more than the Stacker
OF wartime did," Schwab said.
The laboring man is entitled to
his full share for the contribution
he makes to the value of an article" ;"
Schwab declared.
Worker Must Get His share.
The laboring man should be
taken into the full confidence of his
employers. He should be so sure of
getting his fair share of the wealth
he produces that he will work with
zeal and enthusiasm.
Economy in government expend-
itures is also of vital Importance.
We should expect and demand the
same degree OF efficiency in the con-
duct of our governmental business
as we require in private business.
Reckless expenditures necessitate
higher taxes. These taxes increase
prices and higher prices curtail con-
sumption
IF government sets the example
OF waste and extravagance, those
evils will persist in the private lives
and private business of the nations
citizens.
Demands Tax Law Revision.
There is need of immediate re-
vision OF our tax laws While the
war lasted we have put up with a
makeshift policy. badly conceived
and badly executed. Now that the
time for real adjustment has come
it is the duty of citizens to see to Il
that taxes are not imposed which
encourage eXtravagance and take
from industry the opportunity to in
vest its earnings.
Efficient production is the only
guarantee of employment and higher
wages. Never in our lifetime have
the shelves OF the world been 50
bare.
The whole world owes the
United States money and the whole
world is hungry for the things the
united States can supply" Schwah
sal, eclaring that for lack of abii-
ity to sell to Europe through hav-
ing insufficient credit available, the
value OF farm products which Eu-
rope would like to buy had de-
creased billions of dollars.
We are being relieved Of the
impurities in our business life"
Schwab asserted. THE process is
not complete yet. 1t may take
some little time yet. But the pa
tient in time will be cured and
when he Is cured the great body
of American business viii emerge
with vigor and energy the world