The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-05-21
Not a Millennium-A Mirage


The prophets Of disaster had their
inning and nothing came Of their LAM
entatinns, There have nov appeared
the disciples Of another cult. who ra-
dainty predict and confidently believe
the country 10 be on the verge Of ush-
ering in a millennium in all respects OPP
posite In consequences TO the one so
enormously but loudly proclaimed by
the Jeremlahs OF calamity.
At the risk Of being charged with
cruel and iuhuman treatment in crush
ing the young life out of the buoyant
hopes Of those who believe good can
come from the fragments Of country
industrially and financially gone to
pieces, We make bold to predict that
the person who sees in the distance
the promised land OF cheap articles to
buy and high articles TO sell--who Wis
ualiEes cheap living and high wages-%-
is looking. upon mirage and is des-
tined to disillusion and disappointment.
There Is no doubt that the country
the world, for that matter, as the prob
lem is universal--wil follow the path
over which 1t came and will end where
II started AS everything has expert
enced horizontal rise on rising
tide. SO win all things fall together as
the tide recedes,
Wages. the last 10 be buoyed up by,
the rise, will he first to sink with the
fall. A man can not keep UP the price
OF the labor he has to sell and depress
the value Of tho thing he has to buy.
The law of logic, wisdom and expert
ence leads TO no other conclusion just
as countless thousands are eager for
the return OF low prices and are bring
ing to bear all THE forces at their COM
mand. In order to compel reduction
in the living cost, so there are hum
dreds OF employers who look equally
anxiously to the time when they like
wise can manipulate the industrial stu
alton and reduce the prevailing wages,
Prices rose slowly and wages fol-
lowed afar off On the command to
about face" and retreat wages will
be in the forefront.
The country maintained its equilib-
rum throughout the disturbed economic
period. No ordeal more trying viii he
experienced in the reimbursement. At
present there is no basis and no logic
TO control conditions. There is no re-
lation between prices OF food, clothing,
luxuries or wages. All were tossed up
as by seismic eruption, There is no
explanation for the cause OF one thing
being tossed higher than another in
an explosion.
But there is evidence of readjustment
setting in. Whatever readjustment
there is will have no relation TO exist
ing conditions for the reason that ex-
listing conditions are abnormal, ira
tional and ephemeral. Future values will
be comparative and each factor enter
ing into the transaction will have re-
lation to the others.
I.uxuries being first to feel the eff
feet OF the downward trend the pro-
ducers of luxuries will not escape for
long. As production is eurtailed in
those lines more labor will be avail
able In the needful enterprises. As
the production of necessities approaches
the peak of normal demand prices will
recede, and so, inevitably, will the
wages of labor.
Unfortunately it is true that wages
have not kept abreast with the cost
OF living. wages never do that whether
the cost be high or low. The dtscrep-
ancy is greater now than 1t has been
in many years, and while there may be
an approach it is only remotely pos
sible that there will be an approximate
level
II all the selfishness in humanity
could be dissipated and II all the greed
of selfish men would give place 90 altru-
ism and all work together for the
common good, the prospect would he
more anuring. but the battle of the
ages between capital and labor-the ef-
fort to push prices up and wages down,
and prices down and wages up-wiu 60
on the same as it always has done
with advantage first to one side and
then the other but always the eternal
struggle of life the battle for exist
ence,