South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-11-02

pervisiOn over organized industry IN
order TO protect the public Interest.
1 personally would not object, pro-
vided the laws and rules shall apply
alike 70 organized capital and organ
lied labor. Many years ago. az the
request OF a senatorial committee.
submitted the draft Of a bill for
consideration that seemed TO me then
TO cover the case. but there was lack
Of time or disposition TO give il i'm
mediate attention.
One Of the most hopeful signs OF
the times is the apparent disposition
OF the present administration az
Washington 10 aid rather than OBJ
struct the natural and legitimate
progress Of business. Anyone who
Intentionally fails 20 appreciate this
desire or neglects 10 cooperate 90
the limit Of his ability is his own
worst enemy.
Purchases Delayed.
What can be done by the steel
Industry Experience has more
than once demonstrated that the
mere reduction OF selling prices does
not bring large and satisfactory bust
ness. Would-be customers are de-
laying purchases. except for immedi-
ate and imperative uses. until salts
fed that a sound and stable basis Of
prices has been established. There
have been reductions and readjust-
ments. Others may be necessary,
even in the steel business, before
complete restoration Of normal con-
ditions. am not now prepared TO
express an opinion on this subject.
1t depends upon circumstances AS
to prices and wage rates, producers
and employees must be fair and rea-
sonable. taking everything into ac-
count; fair towards each other and
towards the general public.
It is we'll known that at present,
unless and until wage rates are fur
Their decreased, the costs Of many
steel producers will not permit
lower selling prices This presents
serious problem. Personally.
think under such conditions wage
rates should not be reduced until
or about the time selling prices are
lowered. I also believe II would be
unjust to further reduce wage rates
before the costs OF living are lower.
not, Of course, including the excep-
tional cases already mentioned
where the rates are extortionate, as
in many of the trades particularly.
SO far as practicable, all prices and
rates should be adjusted at about
the same time so that all interested
rright no iu-.'v and equitably treat
ed. II a general relative basis has
been or can be found then this
should be maintained. whether it Is
high or low. All interests must re-
ceive the same consideration.
Headed For Wealth.
II we may rely upon the state
ments by economic and statistical
experts, the country is now headed
in the right direction, and if this
be true, as l believe, then our prog
ress toward recovery. though slow at
present, will increase as the days go
by. The steel business on the whole
is a little better this month than
II was last month. General business
throughout the United States has
bNEH oAOWAS AAilpAON ms IL II NCA9
good in some Of the western states
am not at all discouraged.
There is an abundance OF new
business. with both ability and in
cllnation to place it. waiting for fur
Their adjustments which will put
costs of living, selling prices. wage
rates and other general incomes on
relative parity. AS usual, many
will wait too long. There is nothing
the matter with the country; it Is
with the individuals. Patience.
courage and a fair disposition will
bring satisfactory conditions in due
time.