Evening star., 1921-11-06
BY /. A. FLEMING.

! Business is slowly making some
progress in the line of betterment.
This does not refer to Washington, q
city which has begun to reap the ad-
vantages accruing to the chief capi-
tai of the world of today. the mecca
Ito which civilization looks. hopefully
, for relief from the terrible burdens
of taxation incident to constant in
creases in preparedness.
Washington is coming into her own
! in the world Of nations. in the field
of business and in rank of civic i'm
portance.
But general business makes slow
I. progress because of the numerous
! difficulties continually causing doubt
| and hesitation.
Railroad freight rates, admittedly
| too high, are one of the serious olt-
] ficulties in the situation; put eSsH
with the current schedules In force
there are few of the roads that can
show balances on the right side OF
| the monthly statements, and OF these
the majority do 1t only by skimpine
and starving their equipment ant.
of mention for upkeep of track ana
| system.
Yet freight rates must come down
for the farmer and the planter to en-
i Joy a measure of prosperity. Inc
former is actually handicapped by
bumper crops of corn and a surplus
|, of wheat, because competitors In the
! export field, Argentina and Australia,
seem able to underSeil our "heat
raisers and exporters.
| The lower prices for wheat and corn
have given the American farmer an
other jolt. and while he has som
money with which to pay debts ana
see himself through for a time. ms
great purchasing power, the MANI
stay of many thousands OF country
houses, has been greatly reduced for
the second consecutive year.
While the cotton planter is petter
off the shortage of the cotton crop
through damage ot by y Pest 3sa mas, mas 0eeh
Railroad freight and passenger rates
must come down, and there is a cry
all over the land for more economy
and for a greater purchasing power
+! for the dollar.
power is to be given to the dollar re-
! mains to be seen. A dollar Will buy
more wheat than at any time since
the war started, also more corn; u
will buy more leather, but 1t doesn't
90 much farther in shoes; it will buy
more meat, at wholesale, but not much
more at retail: it will do its share in
paying the rent, but its share is the
work formerly ably performed by q
| half dollar.
| former self when it gets into the fruit
and vegetable market, but the farmer
and the raiser of the fruits and vege-
tables still acquires the fraction.
All manufactured goods have got to
be cheaper before, there will be the
broad. active buying that the great
j American market needs.
; Perhaps some retailers are still
| profiteering. II so, they are doing no
more than labor, speaking as class.
won through the stress of war.
People worked then who never work
| ed before, and many of the boys COM
ing back from France found their
positions taken by new workers.
| These new workers will not go back
; to living at home, and their field of
employment is crowded.
But they are in no way responsible
for high cost of producing. Lower
wages for rail workers. for factory
workers, where not liquidated are
| necessary to make lower rail rates;
more direct relation and adjustment
between wholesale and retail prices
are needed before the public, more
or less sure of its power, will open
its purse strings and buy-buy in the
good. old-fashioned way. Increased
ef7iciency is also greatly desired.
public sentiment is against strikes,
and the strike as weapon OF offense
and defense has developed some OF
the characteristics Of the beemeranE.
It's loaded and may 90 OF.
Eventually the obstacles that delay
the full recovery of business will be
settled. They must be, and what
must be will be, but In the meantime
the general business situation will
improve slowly.
one needed perquisite for business
awaits the call to service and at
cheap rates: that is money. For
months we have advanced the view
that money played no part in the in
dustrial dullness of the day.
Now with loans very generally
liauidated, save in agricultural SEQ
ii ons, with the reserve banks grean-
ing with funds at S to sM per cent
in most Of these hanks and ~ In
some of the larger federal reserve In
stitutions, ready to Discount all kllls
that may come from member banks,
to give all necessary credit et lev
rates.
IRE American investment market
has made full reap0pSe to the lower;