Norwich bulletin., 1921-10-01

payments on money rates and security briees in this country, Prices and com fnodity values are not yet restored to their pre-war relationship. although progress has been made in this diree- tiofl Wages have not been restored to their former balances. There still re- mains a surplus of raw material These obstacles and problems, while serious, do not seem insurmountable. but at present they are having real as well as a sentimental effect on business.
 Owners and managers of enterprises have naturally been much distressed by the lack of profits which is so general The unemployed workers are not the only ones who have lost money this year However, the important thing just now from the standpoint of the public as whole is not net earnings, but the volume of business being trans acted
 Wherever men congregate and talk shop, business is usually described as being 'spotty' And that term is per- tinent It describes a condition which should arouse Rope for every one whose business is poor For instance, few automobile manufacturers have been able to produce and sell a larger num- Der Of cars So far this year than in any corresponding period in their history, and to easily outsell competitors in their l own class Good infringement is the l answer to their secret of success Nu- I merous exaniples equally as striking as the situation in the automobile industry can be cited of specific concerns in New | England A man whose business is poor, while his neighboring competitor is doing well, should think twice before 1 he concludes that the difference is
 caused by conditions over which he has no control. The statement will bear repeating that it is the volume of busi
 ness that is important today. not profits for without the first the second cannot
 be maintained consistently
 It has been recognized by thouehtfu men the world over that arbitrary re. stricti0n of output was not the proper
 method for workers to pursue in ordel l to really better their position. It add! 1 to the labor cost. and, as far as the 1 employer is concerned; amounts to ar increase in wages. But the worker de rives no such benefit. It is a socia l waste. As matters now stand the nor
 nal progress of business is being re | tar1ed because the relations betweei the wages of one group of workers an, another between the prices of on group of commodities and another. am between the exchange rates for the va
 rious foreign countries trading with tn l United States, are seriously upset Tn
 dislocation of foreign exchange rates
 has been partly overcome by highe
 prices prevailing in foreign eountrie
 than in ours. For instance while tn
 German mark sells in this country fo
 about one twenty fourth of it's pre-wa
 price commodity prices in Germany ar
 ht least eighteen times higher tha they were in 1914, while ours are hard
 V half again as high. Much the sam
 proportion is found in commodity price and exchange rates of the other coun
 tries which are prominent purchasers C Our exports. As already noted the dis 1 location between values of the varieu fTro IDS of commodities in this countr
 has recently begun in 8 measure to al:
 appear When wages are readjusted S , that work requiring certain amour
 Of skill pays about the same wage i
 one industry as in another. then cond
 tions will be well on the way to pro perity.
 The three largest industries in thi l'distriet are cotton textiles, boots an shoes and leather products, and woole
 and worsted textiles. The products , ithese industries enter into the group
 commodities classed cloths and cloti ling" This group of commodities hay teonlmanded prices, since we entere
 the war, such as have given them high purchasing power; which it wou
 seem must decline during the next fe < years. for there is nothing inherent s this group in the nature of natural m nopoly or of declining supplies tn; \ would tend to make an increase in u s Itexchange value
 Collections are slow, as is natural s a period such as the present, thoue
 lthere is some evidence of modera il improvement since the first of Septer l. Iber, The mercantile agencies repo Q Ithat the size of the individual accoun l. Iplaced with them for collection is n1u |, larger than usual. Dealers in foo . IEtuffs find collections generally zoe
 and they are fair among the hardwa1 lpaint and oil trades Payments in t 7' textile field, though somewhat slow a
 lgenerally satisfactory but collectio = have been dragging during the last fe :. lweeks in the dry goods and mems flu < tnishings trade.