The Winslow mail., 1920-05-28
PRICES ON DOWNWARD TREND


Prices and the high cost Of living
are on the downward trend probably
not to be halted in their orderly
course until point of stability OF of
some permanency is reached.
This is the opinion Of expert finan-
cters and economists in and out Of
Congress. That the peak OF the per-
iod Of imitation has been passed and
that the nation is now to experience
period of orderly defation, is the
The call made upon the Federal Re-
serve banks by Govrnor Harding. of
the Federal Reserve Board, for the
curtailments of credits except for es-
sential productions and the gospel
preached by the government and now
being spread broad cast over the ma
ton by officers of the Reserve banks
that the financial situation calls for
sacrifices akin to those of war time
and for increased production. increas-
ed savings and lessened waste and
consumption is having a wholesome
effect,
1t is predicted that there will now
be less speculation in the various
markets. and that the money held by
SPECTATORS will be turned into the
channels of commerce to relieve in
part the strain upon the financial
situation. To relieve this strain and
provide for the production and move
ment Of crops is the problem of the
banks, finally the problem of the pub
lie. for through increased production
and the practice Of proper economy.
the public can solve the difficulties.
It Is in such period as this that
the value of Federal Reserve is shown
Through this system, it is possible to
keep a firm control OF the financial
situation and apply the necessary
remedies in time tc avert anything
IN the nature of panic. Through
,he orderly process of defation, as is
predicted will result If the public and
the banks cooperate with the FEEDER
III Reserve system. the least possible
injury will be done to anyone That
he public and the banks are cooper
.ating and will continue to do so in
the plan for greater production and
Aving is already shown,
Before the Federal Reserve system
was established under the first Will
son administration. such a situation
IS now faces the country inevitably
would have brought on a panic. with
heavy disaster. No close check then
was possible on the financial situa-
ton, Imitation existed and prices
mounted until they toppled of their
own force. This financial system
controlled by Wall Street and operat-
ed for the profit of a few men con-
tinued through many years denying
which promises Of reform were made
by the Republican party, Despite
the promises. that party did not make
good because the interests did not
wish the system changed, Even now
in the Republican Congress there
are hints of going back to the old
conditions, for through one investi-
cation and another and one charge
and then another. the way has been
paved in the House and Senate so
that a demand for revision of the
Federal Reserve System and for a re-
turn to old conditions undoubtedly
will be made If the Republicans are
returned to complete power In fact
just at this period, those who bene-
fitted through the old conditions and
benefited at the expense of the poor
and middle classes. the workingmen,
are chargrined because the Federal
Reserve System makes a stable fis-
cal system possible and prevents the
control Of the money market and the
credit of the country by few men.
Being successful means doing the