The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1920-12-23
CONGRESS WILL
TACKLE ECONOMICS
MEASURES FOR RELIEF OF THE
FARMER AND STOCK RAISER
ARE CONTEMPLATED.
MAY BE MERELY TEMPORARY
How to Override the Law of Supply
and Demand Without Adopting
Freak Legislation Is Problem for the
Lawmakers.
BY EDWARD 3. CLARK.


In the country probably will force con-
gress at the present session TO take
some measures looking to relief. TAX
Ing out the Christmas recess, there IS
less than three months time for the
| prosecution of the governments Iegis-
latiye business this winter but not
outstanding this and the fact that the
appropriation bills must be passed, ii
is probable an earnest effort will be
made TO do something for the relief of
| abnormal economic conditions, espe-
cially as they affect the rural districts
and their industries.
What is going to be done? Nobody
knows. 1t is hard thing to override
the law of supply and demand without
getting into the field of what the legis-
lators call freak legislation. Commit
tees are at work on this matter now.
The members disagree among them
selves as to what should be done,
Something may be worked out, par
ticularIy for the relief of the stock
raiscrs and the agriculturists Of the
country, but whether it will be legsa-
tion of lasting value, or whether it
will be simply something which will
help one branch Of industry while
hurting another, remains to be seen.
Certain it u.s. however, that something
will he attempted in the way of egis-
lauon to offset slumps in prices of
agricultural products and the derange-
ment of credits to the farmers and
| stock raisers
Freak Measures in Plenty
Whenever congress attempts to leg
islate ON economies along any lines
except those which follow the con
| seryative direction of the oldtime sign
posts, there appear on the scene the
representatives of all kinds of schools
of economic thought, from that of hide
bound reaction to that Of Lands End
radcaliSm.
a study of bills already in congress
intended to act as cures or at least as
palIiatiyes Of present economic coudi-
tions, would disclose many freak meas
ures, i'll considered and i'll founded, nc
companied by other measures well in
tended, the result of thought, but which
after all may not bear the analysis of
the students of the laws governing sup
ply and demand and those governing
sound finance.
1t takes only short survey of the
field of the proposed legislation In con-
gress to disclose the fact that on all
economic and financial questions the
supposed experts and authorities dis
agree radically one from another. 1t
is difficult thing for legislators to de-
termlne what's what when, In commit
tee assembled, they listen to one an
nounCed expert who declares one thing
emphatically to be a truth and then to
another who says that the first experts
truths are all falsehoods.
Conflicts of Experts.
This sort of thing occurs in commit
tees every time that any hearing is be-
ing held on subjects of high economic
import. When the Aldrlch-Vreeland
financial measure was before congress
in the late fall of 1907 and the early
winter of 1908, financial experts were
called to Washington from all parts Of
the country to give advice as to what
should be done on this point or that
point in the proposed legislation.
There were bank presidents here,
a. inc yF : In
tutions in the United States, but to
the manifest mental disturbance of the
members of the committee these men
who had conducted sound banking or.
CARNATIONS for years were at opposite
points of the compass on the question
of what ought to be done in this matter
or that matter TO make conditions safe.
Congress, however, I'm the instance
named, succeeded in turning out some
legislation which in part became the
foundation Of subsequent acts that led
to the establishment of the federal re-
serve system. II may be that this win
ter something can be evolved which
will enable the consumer to buy at
lower prices and the producer to sell at
present or higher prices, but It must be
confessed that some of the legislators
in talking about this thing say that
such result, If II can be made lasting.
will be one of the miracles of Provi.
dence. Natural laws, they say, have
habit Of resenting intrusion into their
field of the laws of the artificial
It is the intention Of the lawmakers.
however, irrespective Of party, to at
tempt 10 do something which will al
leviate present economic conditions.
The welfare Of the people they say is
not party matter. There are vary
ing views as TO how the thing Is 10 he
accomplished, but congress Is on its
way to accomplishment of some kind,
and the hope is expressed that some
thing will be done before March 4.
Preparing for 1924 Campaign.
Political activities Of the two great
parties never cease. Already the
Democratic and Republican national
committees are laying the ground.
work for the campaign of 1924.
The passage Of time between presl.
Dental campaigns as one looks back
p,u. Eavs-~1 nv Men