Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1920-05-20
PEAK OF PRICES
PASSED, SAYS PALMER.

WASHINGTON, May 2O.-'T firm
ly believe the peak of high prices,
particularly in clothing, shoes, fur
nishings and manufactured commod-
tiles of general use, has been turned
and that from now on we will move
into an era of generally lower price
levels" Attorney General Palmer
declared today in discussing the ac-
ton of big department stores in
many of the large cities in slashing
retail prices from 20 to 35 per
cent.
This first general step toward price
reductions, Palmer said, marks a
victory for the consuming public. 1t
is due, first and foremost, he be-
ieves, to the determination finally
reached by the people to stop buying
at the high level of recent prices and
to wear their old clothes. use their
old furniture and otherwise get along
somehow until prices drop back to a
sane level.
Incidentally, as to clothing, Palmer
believes the "Overall Club" move
ment helped directly; not so much
through the extent to which the pub
lie joined these clubs, as by stiffening
the backbone of the ordinary man
to wear his clothes, even if shiny and
shabby, rather than dig up two prices
for an inferior new suit.
The action of the Wannamaker and
other big department stores in the
east in announcing a fiat cut of 20
per cent in most lines, Palmer said,
followed negotiations by the fair
price agents of the Department of
Justice.
Empty Aisles, Idle Clerks Did It,"
But it was not the arguments of
this department that convinced the
managers of these stores and led to
the price reductions" he said.
'It was the fact that the people
had stopped buying at the prices de-
manded. Empty aisles and idle
clerks were the arguments that turn
ed the trick. Dealers realized that
the public had revolted, and that if
they were going to move their mer-
chandise they would have to get their
prices down somewhere near a reas-
enable level.
Already the 20 per cent reduction
made by the Wanamaker and the
other stores initiating the cut-price
movement is being exceeded by many
firms in many cities. In Philadelphia
and New York, for instance, many
stores, not wishing to appear as sim
ply copying Wanamaker's, are an
nouncing cuts of from 80 to 35 per
cent in many lines.
Il have been hammered so much
for forecasting an early downward
trend in prices, that | hesitate now to
say definitely. that / believe that
turn has come. But l do believe
it.
Reports Show Movement General
Reports coming into the depart
ment indicate that the movement is
and that the public, having
demonstrated to itself that it has the
power to control prices by simply re-
fuslng to pay eXorbitant figures by
forcing dealers to sell their goods at
fair prices, if they are going to sell
at all, is from now on going to re-
fuse to stand and deliver any old
price that may be demanded.
The situation with respect to
foodstuffs, however, is somewhat diff
ferent. People cannot stop eating
like they can stop buying new clothes.
They can wear last years suit, but
they can't eat again last years din
ners.
Il believe, however, that the re-
ductlon in the price Of manufactured
commodities, will inevitably be fol-
lowed by a downward trend in the
cost of foods. The big results there,
however, are yet to- come. Ample
production and the regulation of dis
tribution and fair price margins will
be the chief aids in lowering food
costs"
Economists Disagree
Economists in Washington, how
ever, are less sanguine than Palmer,
Continued on Page 81