The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-09-06
Peak 0fPriceS
Passed, Belief

the Fghk at Last
The federal reserve boards statement
that the living costs have apparently
started on their long awaited fair has
been taken by most OF the editorial
writer's with less skepticism than has
been evoked by previous ofiiclal assur-
ances. Some newspapers have the pro-
verbal grain or salt handy but It Is ad-
mitted by even the less credulous, that
this time the prediction OF decline Is
based upon natural causes, and not at
tempts at futile coercion.
Despite tho efforts OF the .prohteer
and the inability OF the government 10
check them, the Ohio State Journal,
columbus Rep) points out that IN
a general way natural law cannot be
clrcumvented for a very long time
While granting that men and institu-
tions like the American Wooden COM
pany, whose president was paid more
than $500 900 In commissions In 1919. are
making desperate efforts to prolong the
agonies OF the consumer" such attempts
cannot be permanently successful The
SYRACUSE Herald. Gnd), Is more eau
tlous, admitting that reductions have
been made but refusing TO commit Itself
on the question OF whether they rep
resent n permanent turn in the tide,
On the other hand, the st. Louis Globe
Democrat, (Rep) feels that. on the
whole. considering tho decreased spec
ulation and the good crops. conditions
are "reassurlng In the highest degree
The Pittsburgh Leader, (ProR. Rep)
refers specially to the remarks OF tho
head OF the Illinois Merchants Trust
banking group to the effect that prices
on necessities will soon enjoy material
decrease. but is somewhat skeptical'
for:
"As the burned child fears the fire.
the common man who has peen lured
by false prophecies so often before. IL
going 10 wait until prices actually come
down before he gives that subject any
further worry"
The Philadelphia Bulletin. und.
Rep.) Is one OF the papers that consider
the reserve boards report logical ana
worth considering with satisfaction
since Il shows the operation OF naturai
laws" less mad spending, less borrow
ing, accumulation OF raw stock, releva.
lion of governmental control and normal
production rather than artificial mea-
sures like the Lever law"
"These are the mere A b C's In trade
and finance and yet have been largely
overlooked in the focusing OF attention
on the fantastic theories OF the power
and wisdom OF the effect OF super-goV-
eminent and its decrees'
crease in railroad tickets is one OF the
Commodities omitted In the account
Ia mentioned by the Boston Transcript.
Qnd. Rep) which does not take prom
ises of immediate reductions with TOO
much optimism.
However. more efficiency. j. also
recognizes as n favorable sign, "A den-
mite though slight increase in general
eff1ciency" which, II believes. contains
las much Of hope for the future as
any OF the others. The Hartford Times,
CDem), too, warns its readers that
they will have to be patient.
Food clothes, shelter and heat are
the four primal necessities OF NE, ana
it is only the first two that seem likely
to be cheaper next year. and unfor-
tunately the others are the very ones
in which 1t is difhcult to retrench we
can wear our old shoes and perhaps
simplify our diet, but we cannot burn
last years coal nor live in tents. Tho
process of readjustment OF prices must
be slow and accompanied with losses
as the rise was gains, but 1t must
come" 4,
An exceedingly optimistic view Is
taken by the New York Journal of
Commerce 0nd), which Is authority for
the statement that the much FAMED
peak has actually been passed ana
levels touched in the last few, months
viii perhaps never be reached again
falo Commercial dnd.) believes, it was
because, when the high point was
reached the public simply refused to
buy anything but the bare necessitles,
and the merchants had to come Gown
to them. Now II the merchant bought
on a rising market and is forced to sell
on falling one, he must suffer the
loss due to reading wrongly "the tenn
per of the American people;
Change is Gradual.
Whether or not the dealers deserve
Jolt when the prices go down. me
Manchester Union Und. RepD does not
believe they will get one, for
"Present tendencies in the price re-
ducton process would seem to indicate
that a change from a high scale TO
lever range is being brought about
gradually. Even the ablest manufac-
Jurors and most astute financiers have
expected critical days when prices pc
gan to drop. But II the adjustment
can be effected along comparatively uii.
disturbing lines, as seems probable, u
viii prove a remarkable accomplish
ment." .
The Salt Lake Telegram Qnd) is In
terested In this phase OF the question
and points out the fact that " the
deantlon OF prices may he slow TINS
is by no means misfortune. and Is
much to be preferred to "a severe
slump that would upset the entire II
dustrial and economic structure; ms
sOw On ,SS son,um n 'h bin IS
fully explained by the. Sun ana New
York Herald Cnd) When prices went
| up. due to Europe's hysterical war buy
| ing here, the retail figures Jumped I'M
mediately. But now that Europe mas
begun 70 produce. the effect must DC
felt slowly, the wholesale prices being
touched first II is, indeed. the condl-
! ton of Europe more than Anythins
| else. the sun Herald believes. thar is 10
| he considered, for the question ot
prices is not local, but international"
| and zone drop of Increased production
| in Europe has done more good In the
| world market than the whole ocean OF
| theoretical defation here tho new
| York Evening Post Qnd) also stresses
| the Importance of foreign trade Inc
! Increase in foreign tonnage, the re-
| duced freight rates on the ocean an1
| the reopening of foreign commerclai
| relations all unite In bringing about an
annroaCh TO prewar costs. -.
1t Is true. the washington fost
| Und) points out, that under these con
| djtIona there is "an Inevitable shirt
| Ing" which causes certain manufactur-
| Ing nlants to close and their employees
to secure work elsewhere. but i be-
| lcves these individual sacrihces,
| which the falling of prices impose VIII
| he moro than compensated for In the
| ond." and with the return to normal
| again there viii be Happiness hnu
! prosperity for the masses instead OF Tor
| the favored few"