Great Falls daily tribune. [volume] (Great Falls, Mont.) 1895-1921, 1920-11-30

looking for a lowering Of prices,
and there is irnpatience because the
reduction of the cost of living is not
what is desired and because Of the
seeming delay in the restoration Of
normal conditions in the economic
life of the country. This desired re-
covery from the effects of the world
war, in the natural course of
things, is far away, and it behooves
every one Of us to cultivate pa
tience, and each one do what he
can to facilitate the movement back
to normal.
The London Statist, in recent
article, said that it was not until
II years after the Napoleonic wars
that prices in England were down
SO per cent from the peak Of war
times, and never did reach the
pre-war level. This statement
prompted an American authority to
an investigation of conditions in
this country after the Civil war.
with the discovery that it was 10
years after the termination Of that
strife that the so per cent point in
recovery was reached by prices.
Neither of these historic strug-
giles was attended by even near
approach to the destruction Of
wealth, the decentralization of essen
tial production, the initiation of cred
its or the worldwide disturbanc of
economic conditions that attended
the recent war The national debts
of the world have been increased
more than 100000, 100000 since
1914, and it has been estimated
that more than $500,000, 100000
in value of mans production was
dissipated in cannon smoke and
other war destruction and waste.
All Of this wealth Of which the
world was despoiled must be re-
placed before the foundation of
credit can be restored to it's nor
NAL support of industry and trade,
and before there can be that de-
flation of credits so much desired
and SO earnestly striven for Every
possible aid to production is de-
nanded, not only to increase its
volume, but to decrease its cost.
For it is not until both Of these re-
suits are attained that prices can
be brought back to even near nor
NAL.
This movement is effectively and
substantially under hay, but much
remains to be accomplished. Raw
materials are cheaper and cost of
production has been lowered in
many directions. Bank credits are
millions of dollars less than they
were month ago, and there has
been vigorous liquidation in the
commodity markets. Already, it has
been estimated, there has been
an average reduction Of whole
sale prices of 20 per cent, and as
soon as retail distributors have
liquidated more of their war priced
stocks this will be reflected in the
cost of living all around as it has
been in spots.
The reconstructive energies of
this country today are much
stronger than they were after the
Civil war, and the progress of our
recovery would be much faster than
it was then, and faster than it is
now, were it not for conditions
abroad, which are SO great a handi-
cap to our foreign trade. Even
there, however. despite after war
conditions much more appalling than
here, considerable improvement has
been made. Everything is moving in
the direction of normal, and all that
is required is patience and co-opera-
ton"
The public has cut down on its
buying, awaiting a return of normal
prices and consequently the mer-
chant has been forced to cut down
on his orders with the result that
some industries have been forced be-
yond the price reduction point and
been forced to close. Of course this
is temporary condition which pro-
badly will not delay the end sought
any longer than would have been the
case anyhow, but it will make it
hard for those in the affected in
dustries to get along in the mean
time
4 nDTHTF1kTC nE nTEyED G.