South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-02-02
TO
LEAD AMERICA TO
SUPREMACY TREFZ
Chicago Man Addresses Coal
Dealers In Annual Con-
ventiOn Here.

CONTINUED FROM PAGE ONE)
and navy and we back at home
bought Liberty bonds and financed
the carrying on OF our plans TO
successful termination
Inman opens Meet.
But what lesson did we learn
by this?. We learned the lesson OF
service. When the armistice was de-
clared we quit giving service. We
became selfish animals, and not
until we. the citizens OF the United
States. learn TO follow that rule. Give
more than you receive will we attain
that plane or normally. Then we
will be able TO assume our rightful
position OF world leadership"
A varied plan Of entertainment was
offered and met with enthusiastic
response. Three dainty exhibitions
by juvenile dancers, several numbrs
by IN Notre Dame quartette. two
solos by Miss Decker and a humor-
Gus slkit by Walter O'Keefe concluded
the program preceding adjourn
ment
B. r. Inman. manager Of the In
diana State Chamber Of Commerce
opened the afternoon session with a
Mr.. Inmans address dealt with the
general problem Of business read
iustment. He particularly struck at
the "hOwler." representing the class
Of business men who are rushing To,
congress and their state legislatures
with appeals for special legisla ton
which viii enable them to go
through the readjustment period
maintaining the same prices and re-
tarding the readjustment which
must come in their particular line.
Must Take Bumps"
During this period. profits give
way 20 bumps" Inman said.
Practically all lines OF business, and
labor as we'll, will feel the impac..
Some take their bumps courag-
eously while others put up a hideous
howl The latter frequently run
TO the congress and to the state leg
islatures and persist in their de-
mands for special legislation that
Will act as ck-absOrb to take
away the effects Of the bumps
Such a policy is not only econom-
icaIly unsOund, but 1t also retards
the, natural processes of readjust-
mCht, thereby delaying and cOmpli-
eating the solution of our readjust-
mont problems.
1T may not be particularly COM
fOrting 10 you business men for me
20 ten you that the descent from the
peak OF high prices TO normal con-
0itions necessarily involves bumps
just as the ascending period brought
profits and increased business. Each
stage is an essential part OF the
business upheaval. Special legisla-
r.f Irs hnnnEf nf FhOcsrs -
come panic-stricken with fear OF
losses. is unJu5t TO others who accept
the situation as a necessary evolu-
ton I'm the transitory processes OF
read iuStment. We must accept the
inevitable and make the most of IT,
We will have to make up our minds
TO accept the bumps like men and
not 'holler.' This applies to both
business and labor The greatest
economic absurdity OF the hour ~
TIE position taken by certain labor
leaders that prices must be reduced
on everything but labor"
Walter McDougal. district man
ager for Wolfe and Co. and I. L.
Runyan. secretary Of the Illinois and
Wisconsin Retail Coal Merchants
association were other speakers on
the afternoon program. Their talks
as Well as the ITenQ OF the AFTERNOON
session dealt with local and state
problems.
Discuss Calder Bill.
Reports at the meeting that at
,orneys throughout the country were
holding that the Calder bill for ma
tional regulation OF the industry
would he declared unconstitutional
met with n hearty welcome from tho
dealers who were unanimous in their
declarations that the enforcement OF
the bill would mean a severe blow to
the industry. IT IS probable, ac-
cording TO some of the members.
that action on the bill may be taken
at the evening session. The meeting
will adjourn tonight