The Bridgeport times and evening farmer., 1920-07-27


 ton committee of the Republican party on July 22, discusses the ques- tion of foreign relations in a some what vague way, which is interesting g rather for what it implies than for what it says. The speech is, how ever, of large significance in its gen eral bearing on economic and finan- cial questions and is essentially safe and sane in tone. On the cost of liv- ing MT. Harding does not offer any panacea, but pledges himself to dc all he can to stop what is called prof fteering" and to bring down prices in a reasonable way. He, however, re- cognizes the fact that this cannot safely be done at a blow and indicates no disposition to attempt it, although he does say that there must be a prompt deflation of the currency and return to the "1OO-cent dollar" which would appear to mean a dollar or purchasing power equal to that existing before the European war; interesting also, in financial way is the suggestion that the candidate believes in a policy that will make Liberty and Victory bonds worth to the original buyer as much as he paid for them in the first place. As to the railroads, MT. Harding recog-
 
 encouragement. The section in which extensive pension legislation is partially promised or implied is less reassuring, but the speech, as a whole, abounds in encouraging an- alyses Of economic conditions and in pledges to pursue policies of conser- vatism and moderation looking to- ward the restoration of better condi- t1ons. The address, moreover, while emphat1cally reassuring in its state ment or policies, is largely free from reactionary views that might be used to attack it. There would seem to he little doubt that the speech of accent- ance will have a beneficial effect up on market conditions, both because or what 1t promises for the f11t1,re and because of the hopeful view if takes of present conditions and prob- lems
 The Railway Wage Adjustment
 The event of the week in an in dustrlal. as in financial, sense has been the announcement of the find lngs or the Railway Wage Adjustment Board in connection with the app1i- cation for higher wages filed h. +ho railroad brotherhoods This annoInce ment gives to the men total waee increase which is estimated at Soro Sooo'oOO,0 900 in the aggreeate a,- though all such estimates are neces- sar1ly approximate only. The ay vance, however, amounts to some eo per cent of the total wage demands 1lled at the outset and will result in adding most largely to the pav of enose who are now receiving the smallest salaries. While the heads or the brotherhoods have referred tha .e quest back to the men in order = ascertain their views reeardjne +h acceptance of the award, this. if is understood Is largely technical. there oelns httle or no doubt regarding the situatlon. Conditions have been so serious in connection with transnor- tat1on that the possibility of a strike even for a few days, would have heen oi Tar more than ordinary SCI iousness. l
 was not strange therefore that 1 the suggestion Of rejection by the men with the chance of a brief "tia- up or traffic should cause some and the present conditions are corresponding relief The large to operating costs will un- avoidably imply seriously increas ased l burden of freight rates since the Tn terstate Commerce Commission must or necessity take into account the added cost implied in the wage award when it announces the deci-
 
 which is now expected within a few days. Assuming that the freight rate advances which had been asked by the roads would be 30 per cent on the previously existing scale, the wage demands it is now estimated would add possibly or 10 per cent with probably some increases in pas senger fares which might run to 1-2c per mile. Whether the additions to 'ailroad revenue will assume precise y this form or not is still to be de- .ermined, and is matter only of con- lecture, but the general basis upon which the commission must rest it's findings if it is to comply with the requirement. of law that the roads ] 'e enabled to pay 1-2 to 6 per cent ] m their invested capital This will 1 transfer the burden. of the wage ad- 'ance to the public, but should pro- l ect the position of railroad stocks l md binds sinvestments while es-i