The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1920-10-01
WILT PROFIT US?

Icies, like the Hearst system, TO nan
the reduction in the cost of living
as an unfnixed blessing. Many who
are now rejoicing over announce
ments OF lower prices are liable to
be singing an altogether different
tune when they realize that one "can'
not have his cake and eat 1t too.
Values arc relative. 1t has been much
easier to accumulate dollars while
they were cheap and plentiful than 1t
will be when they are scarce and high
or. AS between the two extremes.
one OF inflated values and cheap dol.
lars and one when dollars were as
scarce as the proverbial hens teeth"
and few. of them made a fortune,
The Herald Is frank to say that 1t
prefers the cheap and plentiful dol
lars. us4s5 a-., ..
q In the life Of the writer these two
extremes have. been experienced. The
first came In the early nineties when
he hauled Irish potatoes to market at
twenty-five and thirty cents bushel;
when hogs were sold at three cents
and beef cattle even below two cents
pound; when sixty cents was con-
sidered princely pay, in fact when he
got that sum and his board for work.
ing from sun up to sun set, he felt
that he was a near plutocrat.
"A dollar In those days was mighty
valuable; It would buy just coolies of
things; the best horse in the county
sold at $50 and real nice suit of
clothes could be acquired for ten or
twelve dollars. But these dollars
were very elusive; they were hard to
GET It was not always possible for
the owners OF produce to exchange it
for dollars. In fact the writer re.
members quite distinctly when it was
the custom to take dozen eggs to
town and swap them for nickle in,
trade. The merchant in turn sold the
eggs for FIVE cents cash or in the hope
that he would ultimately get the mon.
cy.' Failures were numerous, banks
loaned sparingly and farmer who
entered a bank to borrow money was
careful to clean his feet WE'LL. enter
with his hat in hand and in the most
ObseQuious manner possible implore a
little accommodation" at the hands
OF the banker. If he could execute
the proper iron clad note, expressly
waivihg every claim to exemption
that he might then or thereafter pos.
sess and mortgage his Soul, he might
secure a little money at rate Of in,
terest that was staggering to contem.
plate. The only auction sales that
were held in those days were sheriff
sales and back tax sales.
During the past two years we have
lar has. been plentiful and has never
been so cheap. Values have been ire.
mendously inflated. but there has new.
or. been time In the history of the
world when money was, so plentiful
for all classes OF society, when sc
many luxurles and non-essentials
were purchased by the so.called work.
Inc. man, when the laborers OF all
kinds lived SO we'll or had SO much.
Prosperity has been general and while
the dollar, has been very cheap we
have had many of them and they have
b brought gihappiaessl and sunshine tc
many homes The millions of automo.
biles In every section Of, the country
Is, the. best possible evidence of the
general diffusion of prosperity. Yet
despite all these facts many laborers
have been dissatisfied, they have gone
on vacations. as protest against the
high cost OF living when they should
have known that the first result OF
lowering cost OF living would be bust
ness depression. more laborers thar
jobs and in the end reduced wages
The trouble with the agitators is that
they have convinced many laborers
that they could get the wages of 1920
and buy food and clothing at the
prices of the early. nineties.
The Herald does not ever expect to
see values return to the old pre.wal
prices and certainly not to the stand
ards Of the early nineties of the last
century, But 1t does expect lower
prices and a contraction of the circu
lstiDg medium. Inevitably this
means stringency In money affairs,
depression in business and a curtail
ment OF buying. II means that In,
stead OF more jobs than laborers
there will be more laborers than Jobs
and wages will TALL. The labor mar
ket. like all others, must yield to the
law OF supply and demand. 1t is
doubtful IL those who shave cried GU
the loudest in protes against the cost
OF living are going TO be any happier