Arizona republican., 1920-05-15
Hiqh Prices and Their Causes

Hiah Prices and Their Causes
 From various sources we hear that prices have reached their peak, passed it and are descending. There is. however a unaninnity opinion among all tbosa observers of this phenomenon that will be some tfme periods ranging from four months to a year before the consumer will be able to behold it with the unaided eye before he can feel any les sening of the strain his purse strings Though high prices came upon him suddenly, almost simul- taneously With the added expense of the rnanufac trer the producer, the wholesaler and the retailer sometimes even in anticipation of these added ex- penses relief will to him on leaden feet
 We would have more faith in these predictions of lower prices suspicion that the passing of the peak pleasing illusion. if we had not heard about them so long before and often There have been reductions more less temporary in various lines just as now lumber is cheaper than it has been Isut we have since seen unexplained advances in the same 1ines-nothing like gradual and continued descent.
 we can observe nothing on the horizon that in- dicates a removal of the causes of high prices We are not informed any increased production in any direction: the imitation of the purchasing medium is going on rather than lessening. there is nowhere an indication that wages be lowered that effi ciency will be heightened. And what is more dis couraging than anything else. the extravaganza of the people shows no sign of abatement. Certainly, the greed of profteers gives evidence of modi- fication
  potent causes or which the prime cause of high prices We are inclined to believe that the ncep- tion was in imitation which opened the to all the other causes, naturally, higher prices of all commodi- ties. higher wages and popular extravagance which we are to regard as the chief profiteering which has been and is yet most conscienceless and which has pervaded every avenue through which dis trribution to the is effected There are big profteers little ones all grades of them are "on the make" getting while the getting is good abandoned to all sense of decency and moderation
 The powerIessness of the government-we should rather say imbecity and impotence to deal with profiteers manifest and it's pretense of trying to do so is about be abandoned. What it has done has been done wild expense and it's accom- plishments have been nothing but further disturb ing interference with the natural of trade
 Though not the prime cause believe that pop ular extravaganza and waste the most potent ones and that the removal of them would do to force down prices toward than the of any other cause It would not only lessen the expanse between supply and demand but it would curb. and would be the only curb the greed of profiteers.
 High wages have been held up by the profteers as a scarecrow. As a matter of fact. there n wages as high in proportion to the prices of com rnodities they before the of high prices Wages, except in few isolated eases could not req sonably be lowered. And moreover, their effect has been greatly and purposely exaggerated by those
 
 prices except the right
 The trouble is mainly that the people have become fnsanely extravagant The extravaganza is wilder among the only moderately well-to-do and the for rnerly pinehed those who were compelled to deny themselves luxuries and many comforts. They making up for years of repression. There have been, it is true. attempts to stem the tide waste They have been isolated. chiefly the efforts of the very rich have tried by example as well as precept teach their less well-to-do neighbors the lesson of thrift The milionaires of the country according to their numbers have bought fewer silk shirts gaudy neckties high priced shoes and clothes than salared and day laborers. But we cannot see that such crusades have been of marked effect. There have been fanciful intellectual demonstrations such the overals movement.
 Of late, though, example has been set which offers hope. Wanamakers in New York has reduction in prices in every article 20 per cent. The Chfds & Thompson chain of restau- rants in New York has descended to something like Fre-var prices of essential dishes. The thing has been done by Chicago chain of restaurants and we suppose that the large cities gradually in the smaller ones prices will be arbitrarily in this
 This has not been done because foods and other commodities lower than they the market. It has been public spirited renunciation of part of the profits might have made, to compel profiteers to renqush a part of their profits How widely extended this movement may become is un- certain or whether it will the effect of turing the people away from the high priced places where they can slough off their money more rapidly; whether it can bring the crazed people some idea of thrift again. But long the era of extrava- sanoe continues, there will be of high prices.
 What Congress Might Have Done
 Tine eneroaehTnents upon the power of the execu- ,vbfc Inc re-