Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-10-02
THE WAY TO READ jus1msNT.

Thomas q. Wilson, president of the
Institute of American Meat Packers
reviewed the Industrial situation be-
fore a meeting of investment bankers
at Chicago gave some figures that
livestock producers and corn Srowers
may find explanatory of the fallins
prices In those linked industries dur
ing the month of March. 1913. the
United States exported only 0,392
pounds of fresh beef. In March, 1918 it
exported s2.0S4,e6l pounds, or more
than eighty times that much, In
March. 1920 these figures had shrunk
to 6,036,166 pounds. or only about one
tenth of the quantity exported in the
same month two years previously.
Exports of other meat products also
showed very large decreases.
The difference between 1918 and
1920 should be sufficiently explana-
tory. The demand rose to eighty times
the demand of 1913 in j years and
fell off more than nine tenths in two
years.
The National City bank of New
York discussing the crop situation
and referring to the estimate of over
three billion bushels of corn says:
1t means much to the country,
although the farmers feeling of graft
1hcation Is naturally tempered by the
fact that the price of corn. which at
the middle of June was about $3.50
per bushel, has fallen for December
delivery to below 800 per bushe,. 1t
is the first time since February Of
1917 that corn in Chicago has sold
under $1.00 per bushei The high
point was s2.36 in August 1917. The
decline has, been due to the falling
off in the exports of meats and to
the big crop now In sight. It is cal
culated to make the farmer feel that
he has contributed to his own undo
ms. It is not strange that he reads
with some feeling Of resen TIM ent Of
the various efforts to sustain prices
.asnd curtail production in other lines,
of textile mills running part time
and labor organizations resolving in
favor of a six-hour day. Obviously
he is not getting fair and reciprocal
service from the other industries
with which he is exchanging pro
ducts. but the true remedy is not In
reducing the production of food
stuffs but in increasing the prodrc-
ton of other things, SO that the
prices of what the farmer buys will
decline likewise.
The reimbursement of prices always
strikes the farms first as the pro-
ducers Of food and raw material 1t
seems unfair and is unfair but it is
the way of reimbursement Some in
terests are holding up their manu-
featured products which the farm
must use but some interests have al
ways done so. However, the farm has
the use Of its own reprlsal against
such interests.
Both the authorities quoted look
forward to a safe readjust-
ment of prices without panic or
olSaSlCI. IL Will depeuu upon the
common sense of seemingly opposed
interests but which are in the same
boat. Wilson's advice is good when
he says; 49,
The pressing necessity Of the pre-
sesnst is to maintain courageous
and optimistic morale. The descent
from the heights of abnormal produce
ton to the normal levels of peace
times should be reached by grad
alton and not by perpendicular drops.
No industry upon which large bodies
of labor are dependent for a liveli-
hood or upon which a considerable
number of producers are dependent
for a market for their raw material
has a moral right to close lists doors
in such q time as this merely to pre-
vent a Shrinkage in accumulated sur
plus or for the purpose of limiting
production so as to. create artificial
values for materials on hand. To do
so is to take advantage Of extra
ordinary conditions, the burden Of
which should be shared by all.
Labor and industry should recog-
niae that their interests are mu-
tually dependent and should endeavor
to cooperate in the solution of their
problems. Autocratic management of
industry on one side with a militant,