Evening star., 1922-06-17
FINANCE AND TRADE
CONDITIONS.
Continued from Fourteenth Page.)

between Germany. England and
France regarding the German repara-
tions. If this is so. 1t should be dis
| tinct impetus to business, both by
| causing Europe to buy from this
country and giving this country conf
change has taken place in the Rus
+; sian situation during the past week.
yet signs even In Russia are favor
able at the moment. For the first
time in many years things look en-
couraging in Europe.
The strike situation in New Eng
land is gradually clearing up. The
strike in Providence is about over
and production in all the mill cities
is gradually increasing. 1t Is be-
lieved that mills will have all the
! men they desire after the Fourth OF
July. Another factor helping the
mill situation is the fact that many
of the dissatisfied employees are get
ting positions elsewhere. There is
| considerable demand for common
labor today. Many Of the striking
employees from the textile and other
mills have been able to get a salts
factory wage in connection with the
building and other trades. Thus
there is very little suffering or hard
ship in these mill cities. The strikes
may never be officially declared of.
They may be ended by the mill own
ers securing other employees from the
country districts, who have never be-
fore worked in the mills, and by the
old mill workers getting positions in
other lines of activity. The strike is
developing largely into a swapping Of
jobs. So far as the general welfare
Of the country is concerned, this is
as satisfactory as to have the strik-
man IS primarily interested in hav-
ing people employed, and to business
as a whole 1t makes little difference
for whom individuals work.
Pending Railway Strike.
II prophesy that the threatened
railway strike will end by the men
shifting jobs. These men engaged
in the maintenance of way are largely
men who have not been able to secure
business conditions the cut Is justi-
fed, as these men could not secure
elsewhere a wage equivalent toswhat
the railroads are now paying them.
If, however, business begins to i'm
prove this summer and the demand
able that the best Of these mainte-
nance of way mon will get positions
in the building and other trades.
while the railroads will import a new
lot of men from the country.
For the past year or two we have
jof wage cuts. Reductions have run
all the way from 10 per cent to 50
per cent. with an average of about
rs per cent. should not be sur
prised to see some advances from this
time on. The Firestone Tire and
Rubber Company Of Akron. Ohio, has
already advanced wages 10 per cont.
Other concerns which are temporarily
short of labor are offering more
money. 1t is. however. interesting
to note that the labor unions were
not successful in holding up wages
at the time Of the decline and are
not forcing increase at this time.
History is simply repeating itself.
The law of supply and demand deter
mines wages as 1t determines prices.
II business begins to pick up this
summer, as anticipate 1t will. the
demand for labor will increase.
Owing to the fact that immigration
has been cut of, this will necessarily
cause employers to bid against one
another and wages will again go up,
for a time at least. Considering a
long period Of years into the future.
the trend of wages may continue
downward. but a temporary upturn
would not be surprising.
1.-THE Babson chart on business con.