Evening star., 1920-03-20
PEOPLE URGED TO
TASK OF RESTORING
nation TONORMAL
Fniancersi Start Campaign
Of Education in Economic
! and Domestic Affairs.

Some Of the leading financiers and
larger financial concernse OF the
country are now engaging themselves
in a campaign of education of the
people to assist in the undertaking
which faces the nation of getting
back to normal in all economic and
domestic affairs. 1t is not an abstruse
problem which they present to the
laymen and does not require the mind
of one versed in higher mathematics
or the intricacies of high finance
to comprehend. 1t is so simple. in
fact. that If the formula should be
followed by individuals the. problem
would solve itself. without legislation
or adventitiouS aid.
Advice in Bank Circular.
OF course, the unimpeded flow of
the currents of business depend upon
maintenance of ample banking facili-
ties. On this subject one of the great
New York banking institutions, in a
recent circular. says:
II each individual will do his simple
duty in aiding production, avoiding
unnecessary consumption of goods
known to be in short supply and pay
ing his individual debts. the banking
facilities will be ample
This does not sound like a problem
in high finance. Yet a course con-
trary to this. followed by every indi-
vidual, would make return to normal
almost impossible. Amplifying the
admonition by an example, it was
said:
"The production of sugar on the
continent of Europe was down about
100000 tons in 1919 and sugar is
dear all over the world in conse-
Quence- The proper action for this
with little less sugar. each accept
ing his share of the deficit. Instead
of this. through ignorance and
thoughtleSSneSS. of course, the people
of the United States consumed more
sugar per capita than ever before in
their history. That has been a factor
in making the price high.
Other Instances Cited.
II is pointed out that the produc-
ton of cotton and woolen cloth is
down all over the world. not only as
result of the war, but because of the
reduction of the hours of labor in
the textile industry in nearly all
countries to eight hohrs daily. Even
tually this will be made up. but the
shortage of clothing which results
temporarily should be voluntarily
shared by ALL
titled to have his pay increased to
an extent that will meet the increased
cost Of living does he mean that he
wants enough to enable him to buy
a. much sugar and clothing as in
normal times?" the argument con-
tinues. mo possible wage advances,
II granted to the whole population
alike, could get everybody as much
sugar and clothing as IL the supply
was a full one. And this is true Of
BE- met by economy. smaller purchases
by all. and by strenuous efforts to in
crease production. not by mad
scramble for each to get as much or
more than before. 1t is a time for
patience. reason, helpfulness and the
social spirit.
OIA. Unehalleneed Rule.
TT Is an old and uncha1lenged rule
Of moral conduct that ecch individual
should consider what would be the
result II everybody attempted to fol-
low the same policy that he would
proving the living conditions of the
people which does not take account
OF the necessity for increasing the
accumulations of capital 10 idle. II
such talk means anything II Is that
people shall have more of the con-
the markets and which minister to
their comfort and welfare, but 1t IL
impossible for them to have more
goods unless the industrial capacity
OF tho country fs increased. There
must be more mills. more machinery
and greater production. These can
not be provided without a surplus
left over which can be used to pay
labor for constructing the new mills
and machinery.
"You cannot divide any more than
all there Is. II only a limited amount
OF cotton cloth is produced, you may
double all wages without enabling
the wage Garner to raise the stand
ard of living so far as cotton goods
IL concerned. When the natural law
of prices is UNDERWOOD less will
be said about prof1teering and price
fixing and more attention will be
given to the fundamental conditions
which have to do with an abundant
production Of the things that every
body IL wanting"