South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-05-11

wholesale prices with those OF a year
ago. we find that the wholesale price
OF food has declined 80 per cent
\ but the percentage decrease IN the
retail prices on food was p per cent.
\ Thus retail prices have not come
down IN proper ratio TO the decrease
IN the wholesale prices OF raw ma
I terials. With regard 20 other neces-
stiles. we find that clothing has de-
creased as per cent and farm prod
Iucts nearly As per cent. On the
Iother hand, fuel and lighting ma
terials are about per cent higher
than they were a year ago"
Consider Bank Figures.
! The Federal Reserve bank OF the
/ Chicago district has just published a
statement that a survey OF 80 indus
tries IN this Federal Reserve bank
district which involves go firms.
shows that on April 1st. 1921. there
were in these industries $4,000
fever persons employed than on
April 1st. 1920. and that the weekly
| payroll OF these industries April 1st.
1921. totaled only S7.800,0OO as
against $12,2O5.O 900 April LIST, 1920.
These figures compiled by a great
Federal institution are worthy Of the
most serious consideration by the
man who has his labor 10 sell. as
well as the man who has his money
TO invest.
Formerly we have disposed OF
most Of our surplus. whether Of the
farm or the factory. in Europe. This
market is today almost closed to US.
Our March exports In 1921 are only
about two-ffths OF the March exports
Of 1920. The gold reserves Of Eu-
rope are dangerously low. The cur
rency OF every primary country, ex-
cept our own, !s sadly deprecated.
Securities acceptable to American
exporters are decidedly limited. The
rate OF exchange is so uneven that
every country !n the world can deal
and trade TO greater financial ad-
vantage with any other country than
with the United States. We cannot
escape the bald truth OF this state
ment; I'VE produce in the factories
and on the farms in eight months
enough to met cur own demands for
II months and II we are all to work
and prosper. we must find market
for the produce Of our farms and
our factories FOR the four additional
months Of each year. To secure this
market will require broad states
manship, and a wise and generous
~
countries. as well as in the man
agement Of orr own industries. 1t
may be a slow process. but every
American should do his part"
OF Prime Importance.
The question that today confronts
us as a people and as individuals is
not How much can we exact from
those for whom we work. whom we
employ or with whom we do bust
ness?" but. What is today a fair
price for labor. and for commodities,
looking toward the end Of establish
ing. as quickly as possible, normal
business conditiOns?" Before a work
lngman. whether he is an industrial
worker or a farmer, can enjoy e
saving wage. he must work in or
der to reach a living wage: and be-
fore the retailer or the manufac-
turer can make a reasonable profit,
it is necessary for him to find a
market for his goods. Now. as the
United States Secretary of labor,
James J. Davis has recently aid:
THE great American public has
gone on a strike itself. 1t is no time
for tall talk. fo- heated controversies,
and the stubborn stand taken by
and employers in the past.
In the present state of the indus
trial machine, II is the time for oil
and not for monkey wrenches. 1t is |
q time for all wheels to cog to-
yether If we are TO move forward, |
we must sink temporary differences, |
we must postpone to another day |
questions of principle that it may |
not be possible in this time of stress |
to work out 10 universal satisfaC- |
ton. All over the country employers |
and employees are uanifesting a new |
spirit Of concession. 1t is one of |
the encourag ins signs of our time. |
II marks the entrance OF good will |
into our industrial life after a long |
day Of i'll feeling The fraternal |
spirit is catching on"
Building Needs.
The purpose of the foregoing para |
graphs is to demonstrate TO those in /
that the members of the |
Arbitration Commission tried to view |
the particular problem of arbitra- |
70 q
glasses that would see our local in
dustrial matters as part of a world |
wide situation. IN South Bend, the |
believes, there is very |
udgent need of office buildings and |
dwellings houses. The materials for |
such structures are Immediately |
available. Tho labor IS waiting to |
be on the job. The only disquiet- |
ing factor Is the refusal of capital /
TO invest in buildings. Our investi-
cations convince us that the reason /
for this refusal is that the cost of
Is higher than present
Industrial conditions warrant. Yet |
the wholesale prices of raw ma
.erials. such rs lumber, brick, ce-
nent and so on have fallen substan-
tally. as surveys both governTbntal
and private. show. Therefore. If the
and retail dealers would
pass on to their customers prices in
to these made TO the re-
.ailers by the wholesa lers, raw ma
-erial could be purchased at a very
substantial reduction in the month
Of May. 1921. as against prices OF
such materials in May. 1920. Again
exhaustive surveys made by govern