Arizona republican., 1922-04-22
The Return to Prosperity

How quickly the people of the country will accept
Chairman McCumbers plan for the earlier restora-
ton of prosperity or whether they will accept it at
ALL we do not know Perhaps they will let it
about slowly and unayoidably as come it must, for
he puts his finger upon the ills of the
try, and they must sometime be cured and will be
cured.
There must be cheaper production
sarily by lowering of wages, for in most cases
lowering of wages would result in nothing but
further lowering of the purchasing power, which
the senator points out the chief obstacle
perity.
According to the latest bulletin of the Industrial
Survey the cost of living, though greatly reduced
from the high peak, is yet from 20 to 40 per cent
above the pre-war cost. Wages on the average. and
that especially of the wages of unskilled labor
are but little if any. higher than in the pre-war
period BY cost of living in this instance
speaking only of the costs of commodities, and we
exclude rents and taxes, which mean practically the
thing for the rentpayer is the taxpayer the
property he occupies while the taxpayer in looking
over his bills regards himself as rentpayer to a
usurious landlord.
Mr.. McCumber suggests relief through content-
ment of manufacturers and merchants with meager
profits until the country be put upon its feet
again. To what extent cuts be made here is un-
certain: whether they be made deep enough to
meet the country's purchasing
Manufacturers during the period made great
profits but is generally understood that much of
them took wings in consequence of the over-produc
stion which was discovered when the country sud
denly quit buying Merchants in lines had but
"a short period of profit during the flush period.
Those who based their selling prices costs of
stocks on hand as many of them did: that is,
schants dealing in seasonal merchandise did
rich rewards in the end for their losses replace
sment stocks when the slump offset the profits
they made in the brief peak period. Only those
whose stocks of character to be turned rap
idly made profits throughout. And then there We're
the increased taxes and the drafts upon them for
war and charitable work. In and Red Cross
drives merchants were the more shining targets.
They couldn't dodge.
Another suggestion by Mr. Mccumber is 'one to
which all can agree Tightening effort and greater
efficiency to increase production lessen costs.
Thus win all things need be brought within the
reach of purchasers the purchasers the greater
the production and the lower cost.
Things ran loosely through the war period Eff
cheney was thrown to the winds and the higher cost
of production because of wasted motion was OF
the causes of high prices. We are apt to let that
factor of high wages paid during the pc
sriod when there employment for all and when
there was less production per and woman en-
poyed than before in the industrial history of
the country That the everywhere in the
country. the factories and mills of the
the farms of the Salt River valley.
An increase Of production result of greater
efficiency viii not only bring prices down to the
buying power of those employed but it will cali for
still greater production and the lessenng of unem-
ployrnent which in turn will the country's
buying power.
Thus we will reverse our course in what was
called the vicious circle" in the period in which
followed mounting prices. and we will find
way back to the broad plain of prosperity
There must be. of course, taking of extrava-
CANT profits by merchants and manufacturers; they
should. Mr.. Nccumber advises, content themselves
with even meager profits to facilitate our return,
but the chief factor in return be work
ing together of employer and employe.