The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-21
Helping the Home Market.
Each Must DO His Share in the
Process of DefiatiOn.

TO THE New York HERALD: Volumes
are being written in regard to our Tor
eign trade possibilities and the need Tor
extended credit to aid in the retention
and development of our foreign markets
No one can deny the value Of large
EXPORT trade as an aid to industrial ex-
mansion. but our home market is now
and always must be by far the largest
"a well as the most natural and profit
able market for the output of our farms
and factories.
1t is interesting to apply to our 90
nestle market the reasons given lot the
cultivation of our foreign trade and 20
note how during the present period OF
business stagnation the arguments Tor
one should be applied to the other.
Here. as we'll as abroad, we have a
large population desiring more food ana
more manufactured articles than they
are able to buy. Also we have. unfortu-
nately. an abnormal increase IN inc
number Of unemployed who are badly IN
need OF the vast quantities OF food sup
niles and manufactured articles which
can be produced from the raw materials
which are available. Meanwhile these
that the farmer. the cotton planter. the
Iumberman and others who produce
these materials are letting their lands GO
10 waste or shutting down their plants
because 1t does not pay to produce.
The market for these raw materials
our natural market, is at home. WINE
we discuss means OF increasing our ex-
mort trade we arc forgetful Of the enor-
NOUS possibilities Of and the necessity
for increased domestic trade
Lot rs turn our attention to the DO
nastic problem and we find that reason
abie domestic loans would tide over
many a farmer or manufacturing Dust
nosa that now has TO shut down and
by shutting down throws an ever m
creasing number Of idle. non-productive
workn,en into the already vast army OF
the unemployed
The responsibility rests not only with
the hanks and bankers who talk foreign
loans but greatly curtail domestic loans
~, eouallv with the manufacturer or the
carr,er who unnecessarily shuts dowr
HE nlant or reduces the acrease or MS
yarm and lays or men at the first sigr
~ a serious drop IN the price OF his
commodity. Nor can the factory hand
or farm laborer avoid his share Of the
responsibility for the depression that u
with us as a result OF his failure to as
sist in the defation that must come be-
fore trade with our own people can %
resumed in It's full natural volume
A review Of the wage readjustment e
date shows a surprising lack OF uniform
itv The so-calicd skilled trade unions
which are highly organized, have to
large extent openly opposed any wag'
adjustment and such cuts as have come
have been among the less skilled trades
thus forcing the men affected BY IN
\ lower WACO to carry the full burder
while other trades maintain their war
/ time wage. The high wage Garner takes
/ the benefit OF this reduction In the cos
/ Of living due to the lower wage OF NJ
fellow workmen and gives no return.
\ we need badly larger home market
ana can only obtain that In the nea'
future by the combined effort Of all on
citizens. The banker must believe IN IN
rsture snd not be AFRAID T. trust th