The Mena weekly star., 1921-11-03

but interest and with the know
 ledge that the writer is a man
 whose words are well weighed
 before being uttered or put on
 paper. As the head of the steel
 corporation his great mentality
 was given wide opportunity to
 make itself felt and he accepted
 every chance. 1t was taking
 these chances that put him in the
 eye of America's public. The
 following will continue to hold
 him there, national dominant
 figure.
 By Ebert H. Gary.
 The devastating and destructive war last four and one-quarter years and ending November II, 1918, left the entire world in a dilapidated and demoralized condition. Minds had be- come distracted, visions obscured, morals perverted, natural progress interrupted and the total economic structure disjointed. The destruc- ton of and damage to lives of men so embittered that 1t was difficult for them to think straight or to act in- telligently. In this extremity it seemed desirable, but was found im- possible, to promptly establish basis for the absolute prevention of further international military conflicts. Since the armistice was signed nearly three years have elapsed and nations have been drifting and struggling, en- deavoring to formulate and adopt plans for reasonable readiustment and rehabilitation. Up to the present time there still exist doubt. discord and disorder.
 This very brief outline I think will suggest to our minds many facts and circumstances which, combined, have brought the business situation in the United States to it's present state. In a country of TOT, 100000 people, re- qni~ing for their daily necessities various products aggregating in value billions upon billions of dollars per year, which can be obtained here, having money to supply themselves. production is proceeding much below that which is actually needed for con- sumption.
 Richest Nation.
 In the richest of al nations, in property and money, with the great est and inoss rapidly increasing re- sources, our people are not buying enough to supply themselves with the ordinary comforts of life, altho they have the disposition and the means to do SO They are to an appreci- able extent wearing their old cloth ing, living in their unrepaired houses, eating unusually plain food and, in various ways denying to themselves many of the things they would gen. orally buy and utilize; and they are right in their attitude, up to certain limit. This is in accordance with the inexorable law of supply and demand. The demand is and for some time has been below normal.
 In the main, what has brought about the present unusually low range of purchases? Why is there less building, diminished purchasing of clothing and wholesome food, less travel and reduction of expenditures for new enterprises and extensions of old
 It is because the great purchasing public has formed the opinion that there have not been consummated complete and proper readjustment of prices; and on account of failure to discriminate between different lines or departments of bushes the whole economic system has suffered
 Steel Reduced.
 During the time the United States was engaged in the war there was a governmental board in Washington which, by agreement with industry, had general supervision over the ceiling prices of the larger producers. You are familiar with these proceed ings. You were a part of them and you responded promptly and nobly to all the acquisitions made by the gov- ernment. After costs of production we're ascertained by the Federal Trade Commission, patient investiga- tion made by the War Industries Board, full opportunity given for con- sultation and discussion, prices were fixed by the Board and you promptly furnished the goods. Steel interests voluntarily reduced prices to sub stantial extent almost immediately after the armistice was signed, and three months after, repeated this performance. Some have never since increased these prices, and all sooner or later have reduced them. They are now, on the average, at least $20 per ton lower than the figures agreed upon by the government board at it's last session. Assuming the steel in- | dustry has been fair and reasonable in prices up to the present time, which need not discuss now, for t Is the purchasing public which decides these questions, yet it must be admit, ted, think, that there have been and still are charged and collected for certain commodities unreasonable and unfair. if not extortionate, prices: They apply fo particular lines and persons. They do not pertain to the majority. The resent offenders, generally speaking. were not subject to Limitations by the government dur ine the war and they hAxe continued ard even increased the hl9h prices