The Washington herald., 1922-04-19
PREDICTSDECLINE
IN PRICES DURING
COMING Is YEARS
Decreasing Costs Do Not
F.. Mean Advent of Hard
Times-Mackintosh.
NO SUDDEN CHANGE
How Much Can Man Purchase
For His Labor, Important
Question, He Maintains.

Prices will continue on their
present downward trend for the
Dnext quarter of century"
This statement. based on Amer
Jas past commercial history. was
made before a large and distin-
guished gathering of business men
and civic leaders at the City Club
yesterday by Charles Henry Mack
intosh. president of the Associated
Advertising Clubs of America.
The address was made under the
auspices of the Washington Adver-
tising Club.
Commercial history is merely
repeating ITSELF" declared Mackin-
tosh- Those who say that we may
expect a return to war time prices
o. expect the bottom of the price
valley to be reached within a few
months, he declared. "a-e mis-
guided optimists and speak without
knowledge of the commercial his
tory of this country.
The suggestion that we may
have a descending p-ice market for
the next twenty five years does not
mean that we are to have hare
times for that period" Macintosh
said.
High Prices Don't Mean PROSPERITY.
Prosperity and prices have moth
Ing In common" he declared. IF
high prices meant prosperity. which
would be the most prosperous coun-
try In the world today?" 1t costs
you 100000 rubles today 10 buy a
Rsuit in Russia. ard 1000 ruhles to
send a first-class letter. Is Russia
, prosperous
y In reality, high prices have
nothing to do with prosperity. The
only relation is this: How much In
commodities can a man get fo-
what he earns by his labor? How
much will his effort BUY for him?
Seven hundred years ago. the
workmen building Westminster
Abbey and the London Tower were
paif a penny and three farthings
Tor their work. II that would buy
them the same commodities as does
Inc salary of a workman of today.
then those poorly-paid toiTers of
a." years ago were. just as pros
porous as our workmen are today
Big Problem Ahead.
From the standpoint of mer-
chandising. this is a big problem" :"
said Macintosh. Business men in
the future will be forced to get on
a falling market instead of on a
rising market as they have for the
past quarter of a century. Few of
our present business men have had
personal experience in the kind of
work that now lies ahead"
Concerning advertising, Mackin-
af.Nn Il haN
underlie this art.
These two essentials he said,
~hre simplicity and sincerity-sim-
plicity, that men may understand
you. and sincerity that they may
Sbe lIeve you"
Probably the greatest gathering
of local civic and business leaders
ever gathered together heard Mack
intosh's address.
Business Men introduced.
Among those introduced by Harry
w Hahn. president of the Wash
inSton Advertising Club. were:
Charles +. Roberts, president OF
the Kiwanis Club: DR.. Wade III.
Atkinson. Optimists' Club: C. w.
O'Connor, Lions Club: Rudolph
Jose. Civitan Club: Michael Heis-
ter. Cosmopolitan Club: Douglas
Gibson, Red Dear Club; Anton
stephan. Merchants and Manufac-
turers' Club; Albert c. Shulteis.
Washington Chamber of Commerce;
Tom Bradley. Board of Trade;
Charles W. Semms. president of the
Rotary Club: officers OF the CITY
Club and Senator Thomas Gore, OF
oklahoma. Roe Fulkerson acted as
tOa stmaster at the luncheon.
Macintosh extended an invita-
tion to those present to attend the
convention of the Advertising
Clubs of the World in Milwaukee,
January IL.