Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-09-27
BRITISH STRIKE AVERTED,
WALL Street BELIEVES
Postponement OF Coal Miners Walk
out Rated Second In Import
ance to Price-Cutting.
MEANS. REVIVAL OF BUSINESS
Belief That Orgy of Spending Was
Incident to High Living Costs
Observation-Disclosures People Never
Dressed So Shabbily.
ny DI,OADAS WALL.


pricc-cutting wave that is sweeping
over the United States. the most i'm
portant development OF the past few
weeks from a: stock market point of
View Is the postponcmcnt Of the
British coal miners strike. Both are
matAers OF congratulations Both
mean "a revival Of industry and bet
ter times.
For some days the leading bank
ers OF Wall Street have had private
Information from London to the cf-
feet that Lloyd George had acquired
such control over the British situa-
ton as TO nullify the coal strike. His
mastery of the situation was based
according to these dispatches on the
fact that the strike was voted prin-
eipaiiy by breaker boys and ire
sfonsible persons and did not rep
resent the real sentiment of labor
Labor Men Arc Patriotic.
success OF the strike as planned
would mean the overthrow OF the
british cinpirft so the bankers have
nsen saying. The leading labor men
OF England arc patriotic and when
they were made TO realize what tho
consequences Of a victorious strike
"t me Kind planned would mean they
he several days before the world can
DC certain that the strike really is
aNcrted. but the postponemcnt is
very significant and Indicates a
calls among English labor.
.ins whole financial world is
Watching the British coal situation.
nvcry Investor and little trader in
INC British labor situation as he is in
pr!cc-cuttinS in this country.
While the price-cutting wave in
ansurated by Henry Ford alarmed a
bankers TO be one Of the most con
HructiHc developments since the war
'nhcd. Everybody knew that prices
must come down. Little people could
SIMPLY mean personal ruin and no
public benefit. 1t had to be some
person or nationwide influence who
t nuiu anord 70 stand great loss.
nchfy Ford VIII lose. II IS estimated
ABOUT s2o.o00.000 through this cut.
re ~ going to write Il of TO pa
mi1,ism and advertising, and he can
well AFFORD 10 do so. lie has forced
Forecasts Lower PrIces.
me 1act that 1t is good business is
proved by the sale OF 800 Ford cars
The people stood in line 10 sign up.
Ford Will get IL all back and more
IN !. rev years and Will have in ad-
n,''on TO the money. the good Will
OF the public. The copper Industry
Is following his example and the
steel Industry must follow it, Then
VII come all the building trades and
hnaily prices VIII be on respectable
basis again although probably il will
hc years before they reach the pre-
war level.
with prices down there will be a
reviral OF business. Careless OBJ
servers have been talking about the
orgy OF buying In the stores at high
prices. but the storckccpcrs know
better People have been buying a
.ttlc less than they needed all the
time. People have been eating less
than necessary to maintain vigorous
health and they have been wearing
their old clothes TO such an extent
,has inc general public in America
never looked so shabby as today.
This condition is so general that il
has escaped observation. The man
with the new suit OF clothes sticks
IL His friends all ask what IL cost
ana now he managed TO get the
VIII Help Foreign Trade.
ana those economists who preached
the doctrine of less food and more
health were getting great follow
Ing among the restaurant keepers.
havo more energy and there will be
more business done. 1t Will be pos
sible to sell American goods abroad
ana II VIII check the sales here OF
Is developing vindicatcs the optimists
and justices their profession.
has been made painfully ap-
parent in the past week that the
prices OF steel and copper must be
materially reduced. The indepen-
dents are selling some lines or steel
as much as }2s ton higher than In,
United states Steel Corporation. The
Prices charged by the corporation are
too high. the consumers think. So
radical cut must be made soon.
wages are not expected TO fall for
year or two. In support Of this
theory there is the record of other
wars aztec which wages were main
tanned until all other prices had been
reduced: This is only economic JUS
tice. Everything went IN before
wages and the wage-carner must