Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-20
INDUSTRY LOST BILLION
IN STRIKES DURING 1878
Francis II. Sisson Declares Walkout
Cost Business OF America Total
Sf,250, 100000 Past Year.
BLAslEs RENTS on LABOR
Declares Artisans Who Demand
Higher Pay Arc Responsible for
Large Share of High Living Costs
of Which They Complain.
Try Associated rross. ,


NEW YORK. May l9.-An incom-
pletc list OF direct losses due TO
strikes in 1919, places the cost to
labor in wages NJ nearly s725. coo. 600.
and 20 industry at more than one
and one quarter billion dollars, Fran
els II. Siason. vice-prcsident OF the
Guaranty Trust Company OF New
York. told the silver jubilee conven-
iton OF the National Association OF
Manufacturers here today. Tho chief
danger in tho present situation. Mr..
Sisson said. is that the desirability
OF lower prices as an end In itself
may ho SO exaggerated as to lead 10
the attempt to force prices down
through harmful measures for the
control OF credit;
Rlnmcs Strikes for High Rent.
The banker spoke at length on in
dusirial unrest Analysing It's effect
on the. country's economic condition
and blaming strike fevcrs for higher
living costs and increased rents. He
urged the conservation OF our ma
tural resources as means of main
tanning our economic position in tho
world. we have heard much about
rem. proateers." Mr.. Sisson said, but
organized labor either does not real
ize or closes It's eyes 10 the fact that
every time men employed in the
building trades go on strike or
shirk at their tasks they penalize
socicty-which includes themselves
by increasing the cost OF building,
thus Increasing rent and as re-
suit make prices for goods and SER
vices higher"
Living Bcyond Means.
Declaring that the country is liv-
ing beyond its means, he said: The
facts are such as should arouse US
from our comatose state OF SNUG con-
tentmeDt with orr present position
and future prospects Unless we are
aroused before 1t Is TOO late we can
not retain for long our vast store
OF gold. or our enormously favorable
trade balance or our unprecedented
prosperity"
MIR. Sisson asked: "Are we a bust
ness people. or are we not? Have we
the political intelligence to govern
ourselves efficiently or not? We must
provide our own-aaswcrs. 1t Is time.
indeed, for another Joseph Choate to
cry out to our people America. wake
up-and for Gods sake hurry"
Urge Reduction In Prices.
Resolutions Endorsing all sensible
efforts 10 reduce prices OF commodi-
ties" and urging the ASSOCIATION
members TO cooperate In all rea-
sonable efforts 10 bring about that
result" were adopted today by the
National Association of Manufacture
crs. Other resolutions designed to
cope with the causes Of social and
Industrial unrest in the country, and
urging supper, OF the platform for
American industry" adopted yester-
day, were approved.
The real meaning of the cost. of
living resolution, President Stephen
G. Mason, said, is that the members
OF the association believe that they
should take .deapite stand on the
reduction OF prices" While the reso-
luton hxcd no figures. he said. II is
understood that the manufacturers
see The necessity OF reducing prices
of their products, las much as con-
di;iops and costs OF production will
STATE vice. presidents elected in
c!UIe
kentusky.. Philip S. Tuley: Tonnes.
see, e. T.. Mccarthy.
DIRECTORS large named include !:
j., T. EdEctton, Nashville, Tenn, and
w b. Baker. Atlanta.