The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-08-23
HEAD OF CHICAGO
BOARD or TRADE
TALKS TO HAY MEN

Continued From Page One)
there be? The production of raw ma
terial can increase largely only as the
amount Of acreage placed under cul.
tivation increases. as new mines are
opened up, or, failing this, as the
result Of mechanical improvements.
To some extent increased production
depends upon the increase Of popula.
ton, which has not progressed at the
usual rate during the war years.
During the war years the total pro-
duction Of the country stated in mon
ey was enormously greater than the
increase in actual production The
total production in 1909, stated IN
pounds, was somewhat over Abs. .O0O.-
100000, this had increased by 1920 to
$500 100000 600 pounds, or an increase
Of about 80 per cent in eleven years
This is very different matter from
the same fact stated in money. ac.
cording 10 which most of us would be
led to Believe that the increase Of our
wealth was almost 100 per cent in the
same period. The relative and propor.
tonal saving on the part of our popu.
ation has not increased production be.
tween 1909 and 1920 to such an extent
tina. out Of an increased production of
30 per cent we could have an increase
of wealth of 100 per cent.
Initiation OF Values
I'VE have allowed ourselves to be
bamboozled by the initiation Of value,
into believing that we have added
enormously to our wealth II is really
very much as if a man who had s25
in his pockct suddenly awoke to fino
that it had been decided to call each
dollar in future two dollars and that
as a result he believed his wealth had
increased 100 per cent over night. A.
matter Of fact, if this kind Of an
ordinance were to be nationwide ana
apply to all currency in existence. his
so-called $4,000 would no. represent
"a bit more wealth than his original
$500.
II hope that I have made it clear
TO you why SO many businesses are
in difficulties now on account Of swol-
len inventories.
Now what are we TO do about the
future? Liquidation must continues
business man, the farmer. manufac.
turcr, and retail merchant. but also on
the part Of the laborer believe that
| am correct in saying that the onl,
prices that seem 10 have been liqui-
dated fully so far are those Of our
grains and other products Of our soil.
| including prices Of live stock. This
throws an entirely unnatural burden
upon the farmer who is receiving
practically prc-war prices aud paying
for nearly everything that he needs
prices which. while perhaps no longer
at the peak, are relatively speaking
still much higher than his. We need.
lien. campaign OF education which
win make II clear 10 the business and
labor.ns man that there can be no
hope fur better times aud general pros.
pcrity until liquidation all along the
line reaches q kind of common level
Must Return 10 Earth"
we must again return To earth
and be satisfied with a normal return
L WI NNl investments anu ~ ANltllhA AfH
| turn FOR our labor. By normal re-.
turn" mean perhaps 10 per cent
or so upon invested capital. and for
the laborin> man wage whlcn viii
enable him TO live somewhat as he
did before the war. though the latter
may mean that he will be unable 10
ride In high power automobiles and
l 80. 4. ..N.
shirts. Under no system OF society
that the world has ever known. or j.
likely TO know. can all classes OF IN.
population indulge In luxurious living
No race has over developed except
under the pressure OF stern necessity.
and any race which has been able
tn cyadc the pressure OF earning III,
living by utilizing the products II
vassal peoples. has la a comparative
/ shore limo Cpugyd tD eXigt