Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-04-10
ECONOMIC OUTLOOK
HIGHLY ENCOURAGING
Anticipated Prosperity Based
on Natural Demand and
Should Last Indefinitely.
LABOR TROUBLES no FORE
Business Obliged {" Take toruiznncc
of strikes In Tc,tilc and Coal
Arcns-Chnnccs Appear to he
Against Workers.
II. Walter Is. Brown.

twrittcu for the United NcwSD
NEW YORK. April ?.-Thc indus
trial situation, generally speaking,
holds better outlook than al any
tirlc in the past few years. While
II is true that two years ago prac-
ticany every industrial wheel WAS
turning. it was a condition induced
by tho cNtravagant expenditure OF
war wages and war profits and which
conservative observers realized could
not last and IL did not take long
for the collapse To follow. Now. how =
ever, We are building upon Il more
secure foundation. The prosperity
we are working up to is based upon
natural demand and should continue
indefinitely.
In the foreground, however. we are
obliged To take Cognizance OF the
tabor troubles. The New Enrla nj
textile strike continues. with both
sides stubhornl. maintaining their
ground although the chances are
against the workers unless they are
able TO hold out until the consuming
demand for their products reaches
such a poin; that the natural price
OF labor-thnt is as determined by
the Inv OF supply and demand shall
hare increased TO point where the
former wage scales are justincd.
As To the coal strike. sufficient time
has not yet elarsedN for "a complete
lineup OF forces. Without goiN.;
into the issues as presented by either
side, we are Obliged to recognize GER
tain economic cacts. Working bacl;
from the consumer. there is the de-
mand !or lower prices Of coal, anil
This lis true whether the consumer
hc merely the householder ur the fac
tory
Manufacturing Casts Higher.
Manufacturers lind their costs of
production higher than the ccusum-
ine public Will stand for, but arc
helpless as regards two important
items, namely. transportation and
fuel. Transportation itself cannot he
reduced in cost. also because of high
iueI prices, ana the mine owner says
he cannot reduce the price OF fuel
because OF the high labor cost.
While We are SO busy checking W
our own affairs. We are not paying
uu!te so much attention To European
Developments as We ordinarily do.
However. we have noted that Lloyd
George returned from his vacation
and is now at Gcnoa. Not the least
If the important events OF the wccl;
Was the demonstration Of his ability
t" land on his feet again with AN
overwhelming vote OF confidence
Ns the sole survivor OF the states
men who were in office AT the time
Of the armisticc, lie is an important
iigurc in world affairs, If not the
most important. for wherever he Is,
he il the center OF things. 1t vii
be OF the utmost interest to see - hat
is worked out az the Genoa ,...nfar-
encc. but taking his own estimate /,
is sure TO hc successful. FOR he IA.
laid down the rriuclp!" that II "A con.
terence accompiishes any part Of
what II sets out TO DO IL has !ustl.
fed its existence
His attitude toward Russia /.
highly commcndable. for ne i look.
ING beyond the present government
10 time when the logic OF events
tude toward the rest Of the world
that can he accepted. Ills policy
calls for gradual recognition a.
Russia proves herself worthy. bu,
This great fact he recognizes. arI
that is that European trade cannot
be restored with such II large factor
as Russia left out
willing Ia Aid Europe
IL Is to b" hoped that out OF tn,
Genoa conference viii bc devils I'D
some scheme by which the nations of
Europe can halanc. their hudgc,s
The first ming 10 do is TO stop III,
printing of paper money 10y what.
ever drastic methods may hc ncces.
sary
Czecho- Slovakja has done this. AN,
comes forward "a tn. hI:s ar tie Gen,
IRA European c"unt..rs .io.asE 10! q
Foreign loan. with The probability
mat she Win get IT. There Is rlcnty
OF money here to finance European
enterprise a. soon ns there is an As.
surance thar tn" capital d. safe Thi.
country may Toe said 90 have aban.
doned any IDEAS N a policy of isoln.
tion a!'l Is willing To help Europ.
all II can without becoming involve.
IN what are strictly European polite
In tie mcau1lm, with AN tmproy 81,
industrial outlook and with fair
good crops ahead. tn" American GOO.
nomic uutlook is highly cncouragiur