Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-12-16
False EconomyBa
Normal Buying Need

NHANNA. " VIZ hHNNNAfh NfFNfthf -
niger ~ Williams yicepresdcnt 81 III"
Nltiolnl Rank 1T Commerce IN New
YO'k. IN IN address at the eighth an
nual meeting nf the Convcrters' asso'
cintlon a thu Fillmore hotel New York
city. Ilusinoss no' ds a. regain pubic
confidence by cAacting smaller profits
and even hy accepting losses m some
cases. h. said
TO my mind there ~ mo- greater
service Than can be- rendered today
business nnd to the public than to r..
establish a normal volume II buying
Mr. Williams asserted And o. do
this II seems 10 me business and thu
public must come IN an understand.
INK u N through the procosfrs ~
business, either directly ur Indirectly
that most Uf ia. rD-called good things
~ life are accumulated which We all
share. or Try To. Unless business IN
h"ing done. unless there IN u fair dis.
tribuiion ~ activity. there can be- N
property a. divide. either between
employer or cmployc bsinoss men or
consumer.
1T rs no time To- preach thriftlrss.
ness now. but II ~ time 10 plac"
emphasis on the need Tor s,nity ~ buy.
ink, II ~ not thrifty u Etop buying
altogether any more than II X thrifty
10 consume all NJ our current pro-
ductiun without consideration II tho
future. That is n wastcful way ~ do.
INK business. II means cxtravagant
production. costs waste 81 materials In
the boom period. and In the period "
depression II means deterioration Of
rods not consumed In both periods.
Therefore. IL means great waste ~ hu.
man ondcavor--and in the last analy.
sir. the public pays the bill
There are q number ~ moro III.
rect and obvious ways In which this
RESTRAIN ~ buying If tnflic,ing injury.
with goods flooding back on their
hnnds, producers and distributors have
hgd g. make abrupt curtnilments pf
their activities, resulting In unemploy.
m"nt and IN many directions in dras.
tie wage cuts. Not only are manufac.
turcrs and distributors Injured. but
misfortune visits the working class
with H. resultant discomfort and un
settlement But the u lcffevts ~ the
movement do not stop even here. \
recession in buying carrid too Gar ana
producing too great stagnation IN
production and distr.hIiiCn. may result
IN second nv era ~ shortages and
r"bcund IN prices without an increase
in real WAGES to meet a. The result
would De- that the pr, ssurc ~ the high
''-' ~ living ON family economy. In.
stead uf following the course Of amol.
ior'tion that has SET in would again
become ouerour.
III there il not great threat In
The present situation ~ such unfor.
'uulto results rs there" Is not the
recession IN public buying forcing IN.
lusry into toe grc1, Curinilment or
Production VIII not. ~ other words
'ho public pay q greater price for l,s
false economy than II II maintainsd
. moro temperate attitude both as %
The buying IN flush times and as tn
al" 'hstontion from buying In n timo
such as the present II r. not true
that any economic force which dcvci
ops sufficicn, intensity 20 injurc u
considerable part Of the public works
Injury in ultimate effect 10 tho bodv
polite as a whole" Al must pay part
uf tn cost.
50 much for tho responsibility II
the public In the present situation. Wa
are all a part Of the public and must
r' riy our part ~ such responsibility.
But as bushes mon W. must not o.,
blind To- the fact that tho real Initial
Ft.FfE.lltH
IN other words with tho chief stuff.
90 go the present misfortune Whit
vii help 90 restore this normal scale
NJ buying which "" an recognize ~
necessary e. keep IN" streams NJ trade
flowing Well f'r enc thing. ilsncll.
Ink tho feeling uf dis,rusi prevalent
IN the minds - purchasers tnat SOM
hus'nr's men az, still demanding tor
much for their wares This dis,rust
In same eases amounts almost 20 rc.
ont m"ut that business IL me-, keeping
s"oA faith with thu public
a good deal of an a,a.mont can
u" put up trr plrsirg an the loses
of declining mrrkct 20 the ultlmat,
consumer go long 90 hc keeps buying,
rinrp this spreads "a, less mng thlnlv
md widely. liut when the ultimate
run'umrr r"yullS and stops huving. tho
wise merchant TN such case VIII mcct
IN" market and lower nir price levels.
This is not only sound business but
good sporting spirit, which the Amerl.
can public likes to honor.
"Th" public knows that many busl.
moss men made excessive profits IN
the era of eNirayaeant pubic buying
by hring able a. unload accumulatct
stocks bought ~ low priccR IL n too
murh g. say that IL was tho duty NJ
such buninoss men 10 exercise fore.
sighi and accumulate surplus IN an
snrb LOSSES incident tu q period ~
dropping pricDs' " IN, fun toll az
hiEh prices WIS "NIctcd IN gouds luck.
lN bought, ur chraply produced. Ia II
not idir play that out of those TN.
Earned profits should lc assumed some
NJ IN" loss from lew prices ON goods
bought ~ higher levels" When tho
public becomes convinced that huslncss
" giving Il the advantage ~ falling
prices Just NJ READILY ~ II took I'd
,ant1gr ~ rising prices public conf.
l"n"r viii d. treasured and huyIng
.ilmuLtrd
'Nriin ~ H. Uart ~ the education
which bushes snwes 10 the public 10
i"m"nsirut" that guuds are hring pro.
lucrd ~ the least purslble cos, com.
'aiihl" with the prices VI mltorialn
mi labor business owes II 10 tho
'uhlic a. hc efficient and to give ~
ho benefit of that efficiency. The pub.
.o Is inclined e. distruu that bushes.
hi,h has became tul used To- cacess.
)" sro'iis and T. Therefore. not will.
ng Ia pass along products on a rca.
nnLL-. mlIgIn q. n-mLli Inn NJ.