Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1920-02-19
MONEY APLENTY
And High Wages Two
Leading Reasons
For Present High Cost Of Living,
Declares Assistant Attorney Gen
erai-Extravasance anc specuia-
ton also Factcrs-p-oTree-in tire
least

New YORK. Fee A-F-or-Ieerlag e LhG
last AMI east Of six reasons for The
hign cost Of living given touay by How
ard z. Figs, an assistant United States
attorney general, a. the ninth annua-
convention of the4 National Dry Goods
Association. NJ. Fig asserted. how
ever, that sumo Of the dry goous dea,-
ers were guilty. Of pro1tee-ing ano
should De punished wIthou. ira. whilt
ne believed int Ill wer- guilty. OF hav-
ING prnfitse-ed, perhaps unw.Cr,ngly. =:
some Tine or other.
The first reason fur present condi-
tons sac The speaker. zig me IN
creased volume Of money and credits
secnnd. Inc wide Increase n wages due
partially % necessities and government,
wage scales: third. leasenea world PR.
duction; fourth, increased cnst OF dis
c-iburiuI Ge-h. reckless ez--avagan
and a spirit Of speculation and sixth.
protiteeriny
NJ Figg predicted that there would
BE no apprsciabie reduction in prices
until labor considers Itself part Vi
the whole of industry ana consents u
cooperate"
y do not mean" he explained, '--.lai
!abnr nust give Up It's short workdayE
ana ITS hig, wages. but 7 do mean ina:
lAoor must pend lis bach ana WORK ]
full 90 minutes IN aacn huur
LABOR cannot be made 70 see the DO.
sItion INTO winch il is putting the en-
tire industry Of rhe world AIR F'iEr
said. adding that no apprecianle -aduc.
tion Ii prices could come un-.I AL IN
-e-ests-labor. the punhc, the -uaru1ac.
-u-er producer. wholesaler and distr.b-
utor-coordinare.
The excess profits and iu1u-- -a1ns
ara tremendous factors IN ne hiEt cnsi
Of living. and one tax which can be
controlled ''at central POM" mus.
lake their places. Mr. FLEE said. ex-
planning That this meant Il single TAX
on the ultimate consumer He declared
himself personally opposed 70 i7rarfa-.
-N~A@aN~AN1
either through prlce fixing nr cuut-a,
nut asserted that during the present
emergency there should De -egula ton
AT least of profits by "some agency :
I think the retailer has very
definite part I'd play IN making labor
see the light Mr.. Fagg said "Yor
retailers are dictarnrs TO the manu-
facturers and should reflect the pub
hes attitude To the manufacturer
The public Is entirely saturated with
high prices. doubt If Il can absorb
very much more
THIS brings US 10 the danger ri
an oversrocked retailer # prices IN
much higher and I think the -,-ne
may be not far distant when this
vii be seen.
THE refusal OF the public 70 brv
mas been seen N wonans attire frs,
the refusal OF the women 10 absorb
further increase. Men usually ar
considered the more prudent buve-s.
but the women ara first THIS time.
Il think the necessity for reduction
n prices Is 10 save business. II
useo TO De ID appease the consumer
but II is 10 save business this tine
We realize II Nashingror that We
cannot reduce prices without the AID
of all interests
We are going 10 allow you adc.-
tlonal profits for additional risks.
Goods vii lhave 10 be SOLD at market
prices. and viii have 10 be delivered
On the contract prices
IT is not entirely the fault of the
retailer that prices are high. | think
he Is largely responsible at the OUT
set for the sky rockering of prices.
/ don't mean that he was altogether
10 blame. The consumers demands
put goods on the auction block.
The retailer was the first TO -aaI
izs tna- prices were TOO high. He was
the first 10 appeal To the government
10 do something about It. Altar the
incessanr demands of labor the re
taller asked for relief Mr.. Fig
declared that The mum Der of non
producing or idle" consumers must
be cut down. The excess ruiddIernen
and the specuiaLor must be eradica.-
ed from the scheme Of things. he
SAID. More producers mean increa seq
production and lessenea cnnsump-
rIon. he added.