The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-01-02
PRICE FIXING.


The effort to force down prices in
Topeka seems TO have failed just as
svery similar effort has failed all over
the United States. regardless of wheth-
er it has been made by local fair price
committees or by the regular state
and federal officials If therefore the
price mountain will not come to the
consuming Mahomet, there seems to
be nothing for Mahomet to do but
to so to the mountain.
That commodity prices have not
reached their highest point is the view
taken by Francis H. Sisson, vice presi-
dent of the Guaranty Trust company
of New York. A few facts which are
before the country are interesting, for
they are typical of the steady advance
in the price of foodstuffs. In East
Tennessee, one of the greatest egg CEN
tiers of the country, IS cents dozen
was being paid III December by the
wholesale buyers. Louisiana sugar was
selling to the retail buyers at from 20
to 22 cents pound, according to the
freight rate, and in some places the
figures were even higher. The price
on Cuban sugar to the planters is al
most double what it was last year.
and this of necessity must be reflected
in very much higher retail prices for
TIE coming crop. Cotton is much
higher than it was when President
Wilson made his prediction to the
railroad brotherhoods. that prices
would decline in ninety days, and will
doubtless continue to advance, based
on absolutely sound economic condi-
tons of cost and of the profit that is
being made on the production of goods
by American and European mills alike.
There is no possible chance under
present conditions for a decrease in
the price of coal, but ON the contrary
1T is more than likely that the country
will be compelled to pay still higher
prices. These facts have been so pat
emit to every man who honestly sought
to study the situation that it is sur
prising that in congress and in admin
istration circles, and especially by At
torney General Palmer, statements
have been put forth that prices would
inevitably be forced down.
Mr.. Sisson. a great financial author
ity, who takes a world view of such
questions. wholly uninfluenced by POI
litical issues, on the other hand, states
that commodities have not reached
their peak, and that his conclusion is
based on many facts, foremost of
which is the worlds scarcity of goods.
Years will pass" said Mr.. Sisson in
recent address. before world pro-
duction can again become normal"
And he cited two illustrations to show
the widespread want. Europe" said
he, has only SIS per cent of its food
requirements. 1t needs more than
$500. 900, 900 bushels Of grain, for in
stance, and there is available in all
the world. only about 1,000,0 100000
bushels to meet this condition. Eu-
ropes shortage of coal is in excess of
200, 900 tons, and that means. of
course, greatly decreased production
as we'll as intense suffering. Europe
must have the necessities. and conse-
quently. as the law of supply and de-
mand is ever operative, despite legis-
lative enactments and bureaucratic
DEGREES designed to supersede such
fundamental economic laws, there is
seemingly little prospect of materially
reduced prices, at least for the imme-
diate future"