Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-02-05

tural and labor situation. the arma-
ment conference and many favorable
factors must be reckoned with in
making forecast of business for
1922
This was the keynote Of the au-
dress OF William II. Schwarzschild.
president OF the Retail Merchants
Association OF Richmond. at the sin-
tecnth annual meeting OF the or
gnnization in the auditorium OF Muir
phys Hotel Thursday night.
The recent war brought out tn.
TACT that the world IL AN economic
whole. according to Mr.. Schwarz-
,schiid. Continuing his address on
European conditions, the prcsidcn.
said:
Permanent Improvement in eco
monte conditions. throughout the
world cannot be expected until Eu-
rope has attained a state OF genuine
peace. Especially does the European
situation affect directly our agrlcul-
tural prosperity. and that stiii rep
rcscnts the largest single industry in
our country. our tillers OF the soil.
more than any other class. are de-
pendent upon Europe for tho proper
disposal OF their surplus products.
We must not forget that Of our cot
ton crop II IL necessary TO export
wheat. approximately 80 per cent"
Lnbor Conditions Discussed.
President Schwarzschild discussed
at length tho agricultural and la
Dor situation. Tillcrs OF the son
were clasacd rs the "Agricltural In
dustry." and were declared by the
speaker 10 be supporting more than
90 per cent of the population OF the
United States. He said that the farm
crs are paying too much for what
they consume and receive too little
for what they produce.
y substantial decrease in freight
rates and adjustment OF wages OF all
those connected with the railway
system VIII bring about na improve
ment In these conditions. according
10 Mr. Schwarzsch!ld. Tho speaker
baid. we cannot expect any matcri-
al gain In the farmers purchasIup
power until the difference between
hc price OF the raw material he
, produces and the manufactured goous
he must buy reaches a more stan,
equilibrium. The farmers purchasing
power has been more than cut in
two" 90
Conference VIII Aid.
MI. Schwarzschild's address. in
part, follows:
100 much stress cannot he placed
upon the final results 10 be attained
from the armament conference In
Establishing business conditions and
In restoring prosperity. We can hard.
~ appreciate and realize the henc-
hcent use OF billions of dollars trans
ierred from destructive into produc-
tive channels.
outstanding signs rendering the out
look OF 1922 more promising than was
inc case In 1921 may be briefly stated
the following:
Liquidation Except in wagcs) has
been fairly thorough and far-rcach-
ing. Many weak spots In business
nave been disclosed and have either
been eliminated or strengthened
Money rates have been materially re-
duccd and there IS apparently an
abundance OF funds. available for le-
Rit'ihate purposes at very favorable
rates The increasing confidence in
the administration to effect still fur.
ther reduction In government eS.
penditurcs and thus afford relief Ia
the overburdcned taxpayer and there
ny also assisting materially in win
n'ng back the dollar into productive
industry.
Firm Faith Necessnry.
Driving Investment funds into nm
productive channels will not restore
prosperity and provide a run din
ner pair FOR the workman. The duty
oi the merchant. Is TO proceed along
conservative lines and maintain !
hrm faith In the ultimate working
out OF the economic conditions along
the lines already indicated. not ONLY
OF the various Industrial enterprises
ana now perplexins situation in our
own country. but also ms TO the final