The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1947-04-10
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| We are told by the Presidents
economic advisers that prices are
not going down as they should
These experts point out, in re.
port that ought to be required
reading for all merchants anc
manufacturers, that consuming
ability is the one answer to oui
prayer for prosperity and security
Consuming ability is at its
height when there is an approx
mate balance between a nations
ability to produce and its ability
to get possession of the output.
General Motors, producing cars
at top speed is one thing; mass
ability to buy those cars may be
something else. There must be a
wage level and a price level that
meet within a reasonable margin.
Labor has talked that doctrine
for decades and there is no evad-
ing it.
Manufacturers say they cannot
afford to cut prices until they see
how, where and when "things are
going to settle down." which is
hoOey.
Getting prices back to proper
levels must be part of any "set-
tling down" and by their refusal
to get in line, such manufacturers
are prolonging the spree which
can easily leave lot of headaches
scattered over the economic land
scape.
Profits have been ample, even
after taxes, to permit lot of price
cutting.
Perhaps the term should be 're-
duction," instead of cutting" for
we are dealing with inflated prices,
not normal prices.
There is a certain amount of
handwriting on the wall already, if
manufacturers care to have look
for it.
AS predicted in this column
months ago, customers are getting
mighty choosy. They are letting
things alone in growing volume,
because they think prices are too
high. And, in too many places en-
ployment is letting down and
workers are being told to go home
and wait for a call. 1t wouldn't
take much of push right now to
get real buyers strike going in
full swing. A buyers strike is
harsh medicine.
Labor has shown a wholesome
disposition to go slow in new wage
demands, hoping that manufactur-
ers would balance the picture by a
proper readjustment of prices.
Manufacturers are not responding,
with rare exceptions.
How most workers live decently,
with today's prices to pay, even
with good wages, is a mystery
that ought to occupy the attention
of more economists.
Now here is one certain thing:
If the nation is worried about the
possible inroads of communism,
the best way to help the commun-
lists promote their doctrine is to
permit wage-price unbalance
that leaves millions unable to live
decently.
All propaganda of unrest and
revolution thrives on the discon-
tent of those who feel either in
secure or not properly fed, clothed
and housed.
Nobody knows better than the
Communists that few converts are
found among workers who own
homes and whose in
come permits decent living and de-
cent care and education of chill |
dren. Those workers have some
thing to protect and defend and
they'll do it almost every time.
This nation can provide decently
for all except the minority of mis-
fits who are untitled for work by
reason of physical, mental or other
for them care can
also be provided on a decent level.
But, comes manufacturer X and
says: "why should | stick my neck
out and drop my prices, when no.
body else does t." Maybe he has
there, but it is super
fetal, for a reduction in any no.
,iceable part of a commodity field
would mighty soon bring the whole
ield to that level.
However, if proper adjustment
IAN be had in no other way, it may
De necessary to permit, by law,
some concert of action, for the ma
,ional welfare.
Whatever may be the means re-
luired, this country must look to
is economic health without delay.
We are engaged in form of war
md we must do the things that
will win.
Whether we like it or not, we T.
lave got to create for our people,
lveraged over the whole mass, the
highest standards of living in the
world. At last we are being forced