The Washington times., 1920-09-21

shortage. but Il Is apparently least
felt by the South Atlantic states
Although labor 10 costing suil
more than II did last year. 'it appsr-
entity Ia producing no more. Wages
have advanced from 10 TO 90 per cent
lin the last twelve months and yet
no~here 10 there reported incresss In
productivity per man. ! am not eS.
pectinx that the cost of labor viii fell
off. even In the worst OF times. To its
pre-wsr stage. for l believe that the
real differential between directing La
bor and manual labor will never again
be as great as AZ has been.
80 far as the distribution OF labor
Is concerned, the situation nationally
appears To be well oau@lixed.
LACK or HOUSING sERloUs.
.An important disclosure OF the sur
vey is the seriousness OF the housins
situation. In many OF the larger In
dustrial centers where the shortage
has been most acute, the Investigation
of the Fidelity and Deposit Company
has disclosed building operations TO
be decreasing instead OF increasing.
The call for buildings comes loud
es, from the most essential places or
manufacture rather than from the re-
tail centers. and is for low-priced
dwellings.
agriculture is generally recos-
nired as the backbone of the country
and the farming situation Is excel
lent from no section has an unfavor-
able report been received. Our farm
ers appear everywhere to be In too
happy a mood to permit at this time
the cynicism, the farmer Is always
grumbling' They are well supplied
with funds from the sale of this
years crops. but they are wise In
that they know that more favorable
marketing conditions can be created.
I'm the financial field money Is
tight. That may mean several things:
First. that the people want money
badly to put into producing activi-
ties; second. that the banks attempt
to get whatever the trafric win bear
shearing close to the skin; third. that
there Is an inadequate supply or
money; or, fourth. that those who
have money lack confidence.
There are other reasons, no doubt.
and among. them that. as the dollar
now buys less than heretofore. people
with money wish to charge more for
the service that money gives. No
one can accurately say which or these
causes is the most important factor,
but probably all contribute to the
present situation.
"The country does not like the
present taxation system. The excess
profits tax Is in bad favor everywhere.
Opinion is divided, however, as to
substitute. In the East and central
West, sentiment runs strongly for a
sales tax, but elsewher opinion as to
substitute Is divided. o..
TREND Is REPUBLICAN.
"polificallv the REPLIES Indicate that
it is too early to tell what the out
come of the November election VIII
be. Three months ago there was a
stronger Republican sentiment than
there appears to be now. The trend
has been. and is, Republican. What
1t will be in November these gentle
men do not prophesy.
'.The large outstanding fact devel-
oped by the Fidelity and Deposit
Company seems to be that the great
est issue in the public mind is being
overlooked by the campaigners-the
high cost of living. 1 think this con-
clusion might well be justified. but
the blame should not be cast upon the
producer. and certainly the farmer
has not received his share Of the
wealth which he creates.
lations seem to be the main issues.
Taxation and industrial relations also
occupy a place in the general politi-
cal thought. Least interest appears
to be shown in the railroad policy of
the present administration, radical
movements and prohibition"