Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-29
BACKGROUND OF EVENTS
BY PAUL Y. COLLINS.

If fruit vendor with his apple
cart confessed that his working
capital invested in his stock on hand
was less than 81, a sympathetic by
stander would pity him for his
stringency and would hope that
nothing would happen to upset his
apple cart. Uncle Sam is just about
that hard up-"Uncle Shylock" who
was accounted 'rich enough to give
us all farm" or to cancel his S12,-
600 100000 claims against Europe.
This same Uncle Sam holds in the
vaults of the Treasury half of the
worlds supply of gold, yet, poor fell
low, what can he do with so little
working capital? Only 81 per capita
of his many partners in business!
Besides that ready cash-some 3d.
69S ,587,S54.S in gold--he also owns
some frozen assets''-such as farms
and factories and merchandise and
railroads and steamships and houses
and lots-to the appraised value OF
1886, 900, 900, 900.
OF course, everybody knows that
dollar is worth according to what
1t will buy. and for purposes OF com
parison with net worth before the
war this present appraisal must be
counted on the basis of 1913 dol
lar by which it is found to be the
equivalent in purchasing power of
only $233,000, 100000 on the 1918
basis. Of these statistics are max
ing the reader dizzy, he should not
look down, but look up and keep
steady, for worse are coming)
y X X y
In 1913 the value of all assets in
the United States was S1S8,00O,O O0,-
600: now, on the 1913 valuation of
the dollar, it is 1898 200, 600, 900, which
shows that Uncle Sam has saved up
in the IL or 10 years just 19.1 per
cent of his 1913 investment.
But in the same IS years he has
increased his firm by more partners,
1875 per cent, so that per capita he is
apparently not worth one sou more
than he was Is years ago.
TO one expert official, mention was
made that, with the Census Bureau
and the United States Treasury and
the Department of Commerce and the
Federal Trade Commission and the
United States Chamber of Commerce.
all working on the same problem of
trying to make the increased produc-
tivity due to multiplied efficiency
balance with the final footing of net
worth, there seemed to be some duplt-
cation of effort. Then the expert rose
of duplication of effort" for only
by that are all seekers after truth
kept on tiptoe, in checking up against
each other.
In addition, now there is the
National Industrial Conference Board,
made up of business men. which has
just announced it's conclusion as to
the alleged net worth of 1896 800 ,000,-
900, equivalent to $233, 000,000,000 of
the 1913 dollars. And all other
authorities dispute their accuracy of
estimate! Yet if the applicant man
really owned $685., invested in q town
lot, or in used flivver, in addition
to his 81 in his stock in trade,
would that be an argument that
he should give a free receipt to
some other dealer who had borrowed
S12 from him and promised to pay it
back in 62 installments? asks q mem
Der of the Foreign Debt Commission.
* X X X
All agree that American productive
efficiency has increased immensely
since the war. as quoted in this col
umn last week, but if so, how comes it
that the increase does not show in the
net worth balance sheet? We are so
far ahead of our fathers of 25 or 81
years ago, in economy and efficiency,
that they appear clumsy in compari.
son.
For example. while in four branches
or tndustry-~a griculture, mining, man.
fractures and transporta tion--the
number of workers now employed is
40 per cent compared with the 100
per cent used in 1900, the output of
their production is $50 per cent.
The number on farm work is the
same as in 1900, but the yields amount
TO lao per cent; the. miners at work
are IT'S per cent of those in 1900. but
the product is 410 per cent. In manu-
features, there are 100 per cent of the
1900 workers, but the output is 275
per cent. In railroad transportation
the employees engaged number 1870 per
cent of those in 1900. but the ton.
miles and passenger traffic amount
to 290 per cent.
That comparison is for quarter of
century, and most of the increased
efficiency has come since 1918, vet it
does not show up in the met worth"
of the balance sheet. I'VE view with
alarm" such statistical conclusions,
and point with suspicion at---whom?
Who has run off with that increased
product? The average productivity of
the worker in all lines now is 100
per cent of the per capita productivity
of 1900. These figures are official"
but. not having yet been published
officially, they are secrets"
Here are some more secrets" The
average number OF hours of labor is
only 80 per cent of the hours in 1900,
minded and earnest Treatment of the