The New York herald., 1921-11-19
BUSINESS BETTER,
JUDGE GARY FINDS
Tells Iron and Steel Institute
That improvement Has Been
Going on Six Months.
PRICES STILL TOO HIGH
Head of Steel Corporation
Blames Middlemen for Keep
ing Up Living Costs.

1T seems to be generally conceded"
said Ebert Fl. Gary. presiding over the
twentieth general meeting of the Amer
lean Iron and Steel Institute at the Hotel
Commodore yesterday forenoon. that
business conditions throughout the
United States for the last six months
have been perceptibly and steadily. If
slowly. growing better.
I'm the steel industry the volume of
business has more than doubled during
the last ninety days. though the profits,
as rule, have been little or nothing. due
10 high costs and low prices"
Judge Gary said that the delay in COM
plete restoration Of activity is largely
due to the high costs of living. produc
tion and transportation and of owning
and earning money! He said that the
real obstructionists were those who in
sisted on keeping prices up and realizing
the largest possible gains. He charged
the middlemen with being most at fault,
and said that many of them had not low
cred their selling prices in proportion to
reduction made to them in their pur-
chases. He cited prices of food and
mems shoes. suits. overcoats and hats,
furniture. rents and coal to support this.
Granting that these high prices have
been influenced by labor costs, he said
that So or 90 per cent. of labor. free to
act in accordance with its own sense of
propriety and justice. has been fair and
considerate in view of living expenses
Favors Price Supervision.
Clearly and emphatically," he said
there must be further adjustment and
reductions concerning certain prices and
dau, IN x1,bic ich xuil M
be equitable but will place every branch
os industry on a just and reasonable
parity"
He favored governmental supervision,
impartial and non-partisan, and cover
ing all interests and classes. as the only
means of quickly reaching normal prices.
On this point he said
Business of all kinds would succeed
letter. if unhampered by governmental
interference. but if it is desired to pro-
ceed with the greatest despatch toward
the starting point of the upward march
in prices influenced by the war, then
every person and every interest. without
discrimination, must submit to some
kind of governmental supervision and
regulation. AS the Government ma
terially assisted in increasing costs and
prices, although on grounds of necessity.
2 1T might be proper and expedient to
render similar services in the struggle to
decrease them"
Judge Gary gave a warning of disaster
If taxes do not go down.
ANY politician or political party
standing for the present tax rates or OPP
posing substantial reductions down to
the lowest practical level will not con-
tinue in authority but will go down to
defeat at the first election" he said
"The people will not long endure the
present situation. In fact, they cannot.
Favors the Sales Tax.
"To the fullest extent possible earn
ings and incomes must be left in the
hands of those who first receive them.
Unless food, shelter and clothing
are provided we will not listen to words
concerning abstract questions, especially
from those who work little and say
much
He gave highest praise to the pro-
ceedings Of the Washington conference
thus far. He predicted that the dele
gates would part, as they met, friends,
and also said: "An adverse outcome
would be intolerable and those RESPONSE
BILE for it would be repudiated and ever
lastingly condemned
He spoke also of Mexico, praising
President Obregon and saying he has
established and will maintain order. and
that the United States should soon be
able to recognize the Mexican Govern
nent and bring about a renewal of busi-
ness intercourse.
He spoke OF President Harding as "a
towering. level headed leader"