The New York herald., 1921-01-23

This is addressed especially to the Re al Mer-
chants but we hope rybo7y Il ad 1t.
THIS is National Th 1T Week and hundreds OF
men and women are earn stls Il work nd want
as many more possible to hep them Thrift
does not mean boarding but means wis eod-
ing either for the comforts of Life or insurar
or bank reserves or investing. On Monday I re-
ceived the following letter:
January IT. 1921
Mr.. Henry L. Doherty,
so wall Street,
New York City.
Dear Mr.. Doherty:
1t has been brought to our attention
that of the retail mtr hants are
not in sympathy with Thrift Move
rnent at this time, believing it will BE-
harmful to their business. We are ask
ing a number of our speakers to assure
the merchants that do not want to
hurt their business but want to help.
Will you please do what you can to help
promptly correct this matter.
Let me suggest that you take this up
in your talk the Brooklyn Central
Branch of the Y NJ. C. A. tonight, and
perhaps you would be willing to answer
this matter through the press by inter-
view or in your own advertising space
Very truly yours,
(sd) W. H. BAXLEY, Secretary.
New York City Thrift Committee
This appeals to me a vastly important mat
ter. for want the support of these mer-
chants. and as already in the campaign
and as we reach few people with our
voices | am glad to pay for the necessary space
in the daily papers to say little bit of the
much we might say about what hope to
accomplish.
All of us who are whoe-heartedy supporting
the Thrift movement believe it is not only help
full to business but absolutely necessary for
business.
As a portion of Thrift Week is already gons
we cannot get together and harmonize our diff
ferences of opinion; the only thing left for us
TO do is to space in the daily papers to
present our views and invite those who dissent
to present their views frankly and in like
manner.
We believe that Thrift and Investment is at
all times helpful TO business and that il is par
tculary needed just now our non -sympa-
thzers. we understand. think Thrift and In
vestnent is generally q good thing. but that
just now it will accentuate the so-caed Buyers
Strike.
Some merchants seem to think that an Amer
lean Federation of Retail Buyers has sprung up
over night which In strength and dctermina-
tion is equal to the American Federation Of
Labor and that the first thing the new Fedora
ton did was to declare Buyers Strike.
There is no more OF a Buyers Strike" among
the retail buyers than there is Buyers Strike
on the part of the retail merchants themsJ yes.
Don't YOU think that figures would h.w that
the public is buying more from the .stsi mer-
chant than the retail merchant H. JUylng from
the fobbpr and the Tnan!ffuCtuTpr2 How many
retail merchants do you think are willing to
take the money their retail customer pays them
and pass the proper share OF 1t right along TO
the jobber ana To the factory for more goods?
How many merchants do YOU think are al
ready carrying less than normal stocks ?-and
how many do you think Of those who are
carrying normal abnormal stocks would re-
sist the temptation to reduce their stocks far
below normal If they could create enough re-
tail buying to enable them to do 50?
Now. we have all seen some wonderfully
clever advertisements telling why the people
should buy merchandise literally hope every
merchant who is not in sympathy with the Ma
tional Thrift Drive will get these advertise
ments and read them over and make up his
mind how much OF the advice given 20 the re-
tall buyer ne will accept for himself and how
much Of this advice he thinks his fellow mer-
chant will accept.
Let me remind you that our present troubles
were brought on largely by wild and extrava-
CANT buying on the part Of the public Retail
merchants were encouraged to place abnormally
large orders to insure against depletion Of
stocks and rely on their banks 10 carry them.
This with the load the banks were already
,3.rying. brought strain on our banking sys-
,.n which carried Il to it's full elastic limit.
Money thereafter had 60 be rationed. The
oujlc in some cases bought until they had