The Washington herald., 1921-04-10
i sBUSINESStAND ECONOMIC DIGEST
Bssiness-Industrial Resume.

"a Further evidence has been brought out to show
that the automotive industry Is leading the way in &
predicted revival Particularly important evidence o
th's<is -eentained in the report Of u S Empoyms1t
Servietl showing marked increase in the number of
employees n the automobile factories compared with
mehth aso Textile and leather Industries arc
holding the increase noted few weeks ago but have
failed 10 make ss rapid improvement expected, In
the building industries there Is noteworthy optimism
and many instances pf wage reduction have improved
the buloek The heavy freight rates, on bulky ma
tesl add the expected reduction in steel prices are
fessrdins building projects
Inportsnce Al Tux Revision. 4 Z ,i..s
The Comprehensive survey Of national conditions
puldshed last week by Baltimore bank has brought
out forcibiy several important facts According to
this survey the almost unanimous opinion OF the soui
fy shows that the most important national question,
the most nRettsht local questidh aud the problem
that has the greatest bearing upon business prosperity
Is tax revision The next most important questions
are those concerning the railroads and the peace set
dement, Tsfia revision plays only 4 vsty secondary
part III this consensus OF national opinion These
stts should be Of particular significance to tie ad-
ininstfaton. which HAS apparently decided to push
tie tariff question ahead Of everything else
The Railroad Question. .,s.
No material advance in the settlement Of the rail-
road rate and wage questions were announced this
week Hearings before the Railroad Labor Board are
being continued and President Harding is continuing
his conference with individuals on all sides of the
question Il Is hoped that some plans for definite
and equitable settlement Of this difficult question win
be evolved before long lsss@
British Coal Strike 8.
The most disheartening news from abroad is that
with reference to the British coal miners strike Such
details available indicate that the real cause of
the trouble is the demand for sociaization3 Of the
mines The mines have been operated at = very
heavy loss IN recent months. The miners propose
that the government should continue its control and
guarantee them their present wages even though
these would have to be paid out Of taxes on the
British public.
The unwiIlingness Of the miners to allow the
pumps to continue in operation is most serious and
hort-sightcd policy. Many mines are i becoming
flooded and Il win require from thrce months to a
year to put them back in operation. The attendant
loss Of work will fall heavy upon The miners them
selves whatever the solution Of the present difficulties
"A World Policy Needed. ~ !; i. s & ss.r' s
BUSINESS is swaiting with interest the FIRST mes-
sage from President Harding to The new Congress-
which eonvenes Monday Many impor rtant tasks are
before this Congress Including tax and tariff revision.
reorganization Of the government departments a bud
get and feclassi6cation system and finally but by
means the least the definition Of world policy The
groap Of rreconcIabies nthe Senate have been put
ting forth vast amount of f<newspaper publicity re-
eardng the rejection of the whole Of e league and
the entire Versailles treaty The business world has
stood somewhat aghast this policyr not aIQne be-
cause breaks faith with allies that requires
separate treaty, but also because means indefinite
delay in the estabiishn&nt Of real peace Isas CON
fdenee Is expressed in the plan for peace jomt
resolution Direct expression Of the Presidents ideas
nsthis mattet- will be welcomed clarifying the
whole situation. %1ss.
u \, sstssI ,optput contnuss Low. ., !.
No improyepenttwas 10 b. noted in the steel in-
sdpstry this week Whatever changes there have
sbeen towards. contraction The Improvement in the
automobile industry and slight evidence of Increased
building activity have been favorable signs However.
these too slight 10 affect the general trend Per.
hass ne .peuanent Improvement be expected until
the fs.-osd question is settled. There is still tho
feeling that there must be further adjustment Of
wages and steel prices and some annouu cement from