The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1922-09-08
THE good crops are an outstanding

drought, but the yield on the whole IS
a good one, and the other grains have
done we'll All food stuffs are in
abundant supply. The farmer has
done his work faithfully, and will feed
the town populations during the COM
ing year at as low price level as in
the past year, and it may be little
lower.
The cotton crop again faces below
the amount required for years con-
sumption, owing to drought and boil
weevil. The carry-over August l, 1871,
was over 100000 bales and August l,
1922, was only about one-half that
amount Even if world consumption is
no greater in the coming year than in
the last, stocks will be very low be-
fore another crop is made. All textile
goods seem likely to be higher.
Steel Industry Wage Advance
The most notable development in the
labor market since the depression be-
gan has been the advance of 20 per
cent in the wages OF common day la
Dor announced by the United States
Steel corporation. followed by the
other steel companies. 1t took the
country by surprise, and may be taken
as proof that involuntary unemploy-
ment for the present at least is at an
end.
The explanation is that the steel in
dustry during the war was largely de-
voted to the war. In some lines
equipment and construction fell be-
hind the needs of the country, and the
general slump in business last year
cut down the production of iron and
steel before the shortage was made
good. This has been particularly true
of railroad needs. The demand has
been increasing since early spring and
the companies have had difficulty in
recruiting their forces. Their men
have scattered, many having gone back
to the old countries, and the COM
panies have decided that they must
rescind some of the wage reductions
made last year.
The action is an effective refutation
of the charge that there is close
community of interests among all en-
ployers with a fixed policy to depress
labor, and of the claim that there is
no such thing as the law of supply
and demand in the labor market. Here
is the biggest open-shop industry in
the country leading wage advance at
the very moment most embarrassing to
the railroad companies and coal op-
orators.
AS rule, wage advances are good
sign, but there is doubt about this one,
because it tends to increase industrial
costs when there still is need to re-
duce them. 1t is not good sign to
have iron advancing when wheat and
corn are declining. The chief cause
of depression during the past year was
the unbalanced state of industry, great
numbers of would-be consumers being
unable to buy freely because their own
products did not give them the re-
quired purchasing power over other
products, held at higher level of val
ues. This unbalanced situation still
exists, and this move in the steel in
dustry, while it may be toward read
justment on the basis of coal mining
is not toward general readjustment
Balanced Situation Needed.
1t cannot be too plainly stated that
what is wanted to give the best gen.
eral result is a balanced situation
among the industries with full and
steady employment and ready sale for
products at fair prices all around
Somebody has to pay for abnormally
high prices, and unless the pay of all
classes rises or falls together, con.
sumption is curtailed and prosperity is
checked.
The coal strike has been settled in
the bituminous industry, and seems tc
be near settlement in the anthracite
district. The miners have won com.
plete temporary victory, going back to
work at the old scale, the highest ever
known, despite the efforts of the presi.
dent of the United States to persuade
them to submit the case to arbitration
The settlement, however, is really only
a temporary suspension of hostilities
the old agreement is renewed unit
April l next, when the whole subject
will be reopened. The only step oil
progress is an agreement for the ap.
pointment of a fact-fnding commits.
sion which is to report by January /
1928.
Strike Of Railroad Shopmen.
The strike of railroad shopmen con
tinues. The roads unquestionably ar,
embarrassed by it, but are handling Z