Evening star., 1920-01-16
Mr.. LUCE'S
ON NEXTRAVAGANCE
ST|RS CITY CLUB
Representative Sees Nation
Endangered by Orgy of
Spending and FrivoIity.

Hitting straight from the shoulder.
Representative Robert Luce of Mas.
sachusetts reused 1.200 members OF
the City Club to great pitch or en-
thussasm by his address on prices
Past. Present and Future" at the an
nual meeting of the organization at
the Washington Hotel last night.
Mr.. Luce held his audience from
the moment he was introduced oy
Joseph A. Whitfield, president OF the
club until the close of his address;
when. i'll "A ringing voice, ne pleadeu
with those present to heed the warn
ing of impending danger that threat
ened the country on account OF l,s
strained financial condition. and 90
all in their power. through thrift,
economy, prudence and common sense.
to bring the world back 10 sanity
Sees Need to Call Hnlt.
"Neyer in history" said Mr.. Luce.
has the world been on such a Wilo
orgy of extravaganza and 1rlVolity.
and never was there time hke the
present when the peoples of all ma
tions should know that the whole
world. impoverished by wars ruthless
destruction. faces absolute ruin un-
less a halt is called.
Drunk with a false idea OF the VaIue
of money-infated currency-peopie are
Spending lavishly on unproductlve
things. on follies and frivolities. on buo-
bles that amuse and delight put 90 not
make the world materially rlcher, niue
dreaming of the reckoning that must
come before long.
There is more money IN tne "otiu
than ever before and people feel that
they are rich. During the last thirty
years more gold was produced than cur
ing the four centuries preceding, ana
while a man may have $1o now 10 20
a few years back he is infinitely poorer.
The purchasing power or the ooiiaf has
been lamentably reduced.
Laziness Held as Menace.
"And the sad part of it all is that at
needed the most. the world is seized
with a streak of laziness never equaleo
in history.
'.In 1912 the United States was evalu-
ated at s1S7, 900, 000, ,000." continued Mr.
Luce. 1.-THE expenditures OF the aiues na
added to which were fully $125. .000. 600, 900
for losses of property on land and sea
and value placed on lives lost. making
total of $500, ,000, 100000, which should
explain to the most pessimist!c why
prices are high. and will remain mgn
until production is caught up with
Mr.. Luce gave a brief history OF
money panics that had occurred IN the
country since it's inception, and said
that present conditions were nothing
new. but the natural consequences re-
sulting from inflated currency.
1T is in such times as these that
the grinders get busy. The printing
presses work overtime grinding out
Daper money" he said. In 1918 we
went through the same thing. Coun-
try flooded with paper-result, panic
In 1888 the same happened agaln-ex-
panded currency and the grinders at
panic. In 1873, repeti-
panic. In 1893, another
inflated money market and another
panic, and now the worst of all
panics coming if it is not checked in
time"
"TelI True Conditiona,' He Says.
He ridiculed the idea of trying to
round up profiteers or wasting time
committees to regulate
prices. Spend the money on educat-
ing the people to true conditions" he
cried. Teach them the history of the
finance of our country. Impress upon
getting right down to business and
starting in to work. Make them un-
derstand that unless production is in
creased we face utter ruin. In short,
tell them the truth, and we might still
avert disaster
Mr.. Luce was frequently interrupted
by loud bursts of applause, and, when,
Lend your every effort
to help them steer the great ship of
state into new era of prosperity over
the stormiest seas that ever confront
ed her noble prow," the cheering was
spontaneous-his auditors had been
thrilled.
Officers Are Reelected.
All of the officers of the club were
reelected at the meeting. They will
serve until the first election to be
held under the clubs new constitu-
tion. probably held in April or May
The reelected officers are: Joseph
A. Whitfield, president; DR.. E. P.
Mertz, vice president, Cuno II. Ru-
dolph, treasurer; william John Ey-
non. secretary, and the following
governors: E. c.. Graham, Thomas
Bones, e. L. Stock, NJ. d. Rosenberg,
w. C. Johnson and Milton e. Allies.
DR. j. Rozier Biggs moved that the
secretary be ordered to cast a unani-
nous ballot for the officers. and the
motion was carried without a dis
senting vote.
Tribute to MIR. Whitfield.
High tribute to Mr.. Whitfield was
paid by Henry h. Stringer, chairman
of the house committee. He said
that Mr.. Whitfield had worked in
cessantIy night and day for the well
fare of the club. At Mr.. Stringer's
suggestion the club members gave
Mr. Whitfield rising vote of thanks
The phenomenal growth of the club
in considerably less than a year was