The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-08-26
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dominant factor In the mefchandis-
ing and basiness sftuAtfon Of the
United States, has inefeased by
millions of dollars within the last
week and can be counted on to in
crease still further. To begin with.
hundreds Of thousands Of miners
have gone back to the slopes and
the tipples Of the soft coal fields al
wages which satisfy them and with
which they can purchase the lleces
stiles and some Of the comforts Of
life.
The 20 per cent increase granted
to the employees Of the United
States Steel corporation alone add
ed over $50,000,000 a year to. the
purchasing power Of the country,
and the jump Of one-ffth in the pay
rolls Of the Independent steel COM
panies added more than as many
millions.
Furthermore, many Of the textile
workers Of New England are return
ing to work, not at the reduction
Of 20 per cent against which they
struck, but under an agreement
which makes the old wage scale op-
erative from September / on.
Farmers Get Cash.
Finally, the farmers Of the coun-
try are being paid cash for their
crops, and while their complaints
are loud in the ears of every agri-
cultural community. the fact re-
mains that they can buy and are
buying and are paying cash. There
Is every evidence, from reports re-
ceived from all sections within the
last IL hours, that the farmers of
the country not only will be amply
supplied with funds for the neces-
stiles, but will complete the year
with fair average of profit.
For these increases in income
and In purchasing power, the ire
mendous development Of building
operations throughout the country
is largely responsible. Building
trades have absorbed the surplus
labor of the other industries and
the disappearance Of unemployment
has created a demand and it has
| required wage advances to fill.
Slight Increases Expected.
These increases in buying power
can be counted on to empty shelves
of the retail stores, to crowd the
order books of the jobbers and
manufacturers and to increase the
pace OF the producers of raw ma
terials. The factors which produc.
ed them can also be counted on tt
increase costs OF production, ant
again, although not excessive, in
crease in prices may be expected.
Such advances have already be.
gun to make their appearance
Steel prices, have shown advance;
this week and those advances have
by no means reached the top o.
their swing. However, a condition
exists which makes deliveries fol-
the moment Of equal importance
| with price, and additional furnace!
are going into commission as Goa
production makes it possible.
Industries Need Power.
Industrial plants all over the
country are clamoring for power
to enable them to meet require
ments. A dozen representatives O
even the Hydrro-Electric plants, in
dependent of either coal or Oil fol
fuel, were scurrying around New
York today begging and buying
current from each other to suppl,
customers at points all the wa.
from the issouri river eastward
where streams and water reserve.
are at thei lowest at this season O
the yea.
l Automobile factories continue t.
turn tout cars at top speed, al
though some of the smaller makers
lacking quantity production, ar,
being hard put to it to meet recen
price cuts by the quantity produc
ers and still maintain a margin O
profit. Tire manufacturers an,
parts makers are having difficult,
; in moving theid products into tn
automobile factories fast enough
Cotton deterioration in the fields i
stiffening the market for the raw
staple and this condition has beel
reflected in some degree in tn
prices for cotton goods.
Wool Market Marks Time.
The wool markets still are mark
ing time until the result Of tn
house and senate conferences o.
the tariff bill are determined, bu