The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1920-11-15
Predict Consumer
Will Soon Join the
Buying Procession
BY DAVID LAWRENCE.
C1pyrlght, 1920. by Tho Intelligencer.

: Washington, Nov. lA---Business cond!-
tons throughout the United States are
more Il subject OF discussion amons
government officials nowadays than
questions OF foreign policy or national
politics. The passing or the election
has brought back TO som" extent tho
non-partisan viewpoint which prevailed
during the war. Men are not 50 likely
. to express opinions that renUrt on the
opposite political party. There IS the
beginning here Of u real appreciation
! OF the big problems ahead.
| For instance, much talk has been
/ heard about appealing the excess prot
: its tax. Congress will probably do
something about i in due time but tho
interesting question Is being asked
whether the drop in prices AS well as
profits will not actually reduce the rev
euues that have heretofore been cNIHct-
cd from the excess profits taxes. some
observers have gone so FAR as TO
suggest that for all practical purposes
the business situation Will before long
have repea led the excess profits tax;
! On the other hand the Federal Re
serve board which stepped in last
spring and began restricting credit is
getting to be as much topic OF Contro-
Nersy as the league OF nations. netcn9-
! ers OF the federal reserve board insist
for example. that the country IS Wit
I Messing a REIMBURSEMENT without Il
money panic and that the board has
! been fully justified IN its action u!
current Developments IN the economic
Gain IN Imports and Exports
| There has been much talk about the
! export market in its relation to the
political situation abroad and while It
! Is quite usual to hear 1t said that the
bot ON has dropped out Of the export
market nevertheless the last reports
issued BY the department Of commerce
: Indicate gain in both exports and i'm
ports. The exact analysis Of the export
! trade in commodities has not been made
and there seems TO be- no doubt that
some lines OF business have suffered
from the inability OF foreign countries
! TO raise the necessary credit to finance
American exports.
| On the whole. the information avail
able in the national capital on business
conditions throughout the country re-
yeals q continued Discrimination on the
; part Of the consumer TO buy. stocks
have therefore piled up N many Dusi,
| nesses. Manufacturers who have had
J orders cancelled are however, using tho
opportunity to cut down labor overhead
and 10 weed out inefficient help.
! Consumers VIII Buy
| 1t seems to DO generally expected
! that tho first OF January will witness a
marked change. With stocks running
! low, tho feeling seems 10 be that buy
Ing by the merchant will have TO be-
gin and that the consumer Will also
find II necessary TO poin in the buying
a change Is not expected until spring
I The drop in lumber prices and IN the
cost OF other materials Is such as to
warrant the belief hereabouts that the
, American people will begin to solve
their housing problems as sooa as the
; dimlnution OF the winter snow permits
; the carpenters to begin work.
Another reason for optimism IN
! Washington. however. Is the certainty
that European markets will como back
AL t,.af Hpnr 1fNf a
stability is accomplished. Everybody
seems agreed that Europe needs Am
crican goods and needs them desperate
ly and that the rehnancing Of Europe
will bring full production to American
factories again.
Yet thel<, is very little said here
about governmental aid to credit oper-
ations in Europe. The European coun-
tries themselves adopted Il resolution at
the international financing conference at
| Brussels looking with disfavor on the
extension Of more loans by govern
ments. Yet that conference did make
several suggestions for the betterment
Of trade by new credit plans.
With the election out OF the way, Of
! fetal Washington may decide to take
n more active part In international cred
/ II operations even in advance of the
new administration.
To Out Expenditures
The cutting down Of governmental
expenditures will probably be agltated
during the coming session OF congress
but as Republican Leader Moudall once
| told the writer II Is one thing to talk
about cutting down appropriations and
+, II Is quite another thing to face the
people or the states and cities who suf-
fer from the cut in the amount OF
money spent In their immediate en-
+ Eironment.
Another thing with the high cost OF
! living many government employees who
originally got their jobs through polit
, ical influence haven't been especially
enthusiastic about staying in the gov
ernment employment when attractive
positions are available in the business
world, The Republicans will find the
house cleaning job they have been
promising the country Il very easy task
in many respects but the hard part Of
! II will be to get competent persons To
I come to Washington to replace those
who are every day resign!ng to enter
the business or professional world AZ
| higher salaries than the government has
! been able to AFFORD.
| Many Of the government departments
! hay" already given evidence OF their
ability 10 cut down their payrolIs hut
when all IS sa Id and done official Wash
! ington ISN'T expecting that the amounts
| saved by diSmissing employees vii! corr
narc with tho h:s amounts that %!N
| haze 10 he raised tn pay the interest on