Arizona republican., 1921-01-03
Th. Price of paper

A study of the print paper situation in this country, and for that matter, in all countries, and comparison of it with the situation to other commodities ought to be part of liberal education ln political economy There is such study and comparison in an article in Paper Industry" journal devoted the paper manufacturing business
 Replying to the inquiry What Is the paper prices do not come down faster. and how they be expected to stay high and rule firm when SO many other commodities have declined dras- tlcany?" Paper Industry says:
 It ought to be apparent by this time to men who possess gray matter above the earinc that all the bull con" in the world could not maintain the price ot any commodity in the face of this violent aud general deflation which has dragged most materials essential and basic ones Gown in price even below pre-war levels in some cases This is not Tboot-strap' market, shot-in arm" proposition.
 Neither talk nor market opinion says Paper Industry" prices to tumble hold firm long in the case of any commodity. Extraordinary conditions and artificial interference may for time suspend the law of supply and demand but not a long time It Is pointed that there was such a Suspension during tho war in the cases of wool. leather. wheat, meat products. and flour and during the whole period of high. artifcaIly fixed prices. there was steady and rapid accumulation of all these commodities with the result that when me artificial support could longer sustain tho prices, there a collapse and crash. The orderly reign of the law of supply and demand was resumed rather painfully. it is but the pain ncces- sary to restoration to a sound basis
 During the period in which the accumulation of Inc above mentioned commodities was taking place under the stimulus of high artificial prices there was such a wasting of wood of which paper was made, as the world had never The forests already depleted were further exhausted Vast new demands at home were made for lumber and our exports of wood for various purposes heavier than they had ever been.
 There was it is true. greater demand for the commodities we have mentioned than ever before. supplies of them may have been exhausted. We member that we were told of scarcity in many of them. in explanation of high prices. But know that there is scarcity but a plethora which has left them dragging the market.
 It docs not take long reproduce any of them. A sheep yields wool at tho end of year. A crop of cotton may gut the market: with sugar But when a tree has been cut down to be made into wood pulp there be to take it's place within from thirty to fifty years.
 We followed too long the devastation of the for csS without thought replacement. It is only within recent years tha tsystematic effort made re- forestation. We more thoroughly realize the need of it now and we are earnestly going about it, the while experiments and research are being made In thc hope of discovering substitutes.
 But m the meantime there is a limit of p'odIo- ton which cannot be increased by the demand. The demand may become abnormal by reason of activity Ca -+ncs. In good times it will be greater and