THE CORDOVA DAILY TIMES
Entered at the Postoffice at Cordova,
Alaska, as second-class matter.
H. G. STEEL
EDITOR AND PROPRIETOR
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WEDNESDAY, JULY 9, 1919
WILL PRICES FALL?
Will prices fall, and if so, how
much? This question, we believe, is
the one nearest to the present interest
as well as the pocketbook of human
ity.
Although it is likely that the gen
eral tendency of prices may be down
ward during the next decade, the con
sensus of opinion among experts is
that the decline will be gradual, and
there is a general impression that we
have attained a new price level that
will never give way to the pre-war
level. In a word, while it is conceded
that there will be a falling of prices,
the fall will stop short and perhaps
far short of the old level.
We can get a glimpse of the future
if we consider those elements of high
prices which tend to remain and those
which tend to disappear.
Present high prices may be ascribed
to three main causes—increased cost
of labor, higher rentals and higher
taxation. We will have no difficulty
in realizing, for example, the influ
ence of taxation when we are told
that taxes have increased in this coun
try 2,000 per cent over what they were
before the European war. In Great
Britain they have increased more than
1.000 per cent.
Rent and taxes, however, can not
compare with cost of labor as a factor
in fixing prices. Unless wages ma
terially decrease prices can not de
cline radically, and there are few signs
lhat wages will go to a lower level.
Wages will remain high because of the
following basic reasons:
1. War wastage—the stoppage of
production due to the withdrawal of
men and machinery for war purposes.
Millions of laborers will be returned
to production, but millions will not.
2. The virtual stoppage otMmmigra
tion in 1014. The millions who for
merly came to our shores remained at
home, and it is extremely doubtful
whether the tide of immigration will
assume the old proportions within the
next decade.
3. The establishment of new indus
tries, such as shipbuilding and the
making of dyes and chemicals.
4. The increase in the demand for
materials for construction. During
the war construction was held to a
minimum as non-essential.
5. Shortage of the world’s food sup
ply and the world’s supply of raw ma
terials. These shortages can be made
good only by slow degrees.
6. The higher level of prices in
Europe.
It has been perplexing to some that
while men were out of work wages
should remain high, but if we consider
the foregoing list we shall acquire an
understanding of the conditions. There
has been scarcity of employment only
in some lines, and even this tends to
disappear as we shift from a war to a
normal production basis. The world
over there will be a shortage of labor
when anything like normal production
is restored. Shortage of production
in Europe has resulted from the col
lapse of credit and business. Men
are idle because business can not read
ily be resumed on the old scale.
In this country we are rapidly re
suming business on a pre-war basis,
and unemployment is becoming rarer.
Soon the time will come when there
will be a labor scarcity, greater or
less, in all lines.
During the civil war prices rose rel
atively more than in the world war.
Based on greenback money, these
prices were largely inflated. Making
allowance for that condition, which is
not closely paralleled at this time, we
should note that the drop of prices in
ninety-two commodities from 1861 to
1874 was at the rate of less than 6
per cent per year. In building ma
terials it averaged less than 4 per
cent.
In the period from May, 19i8, to
October, 1919, commodity prices in the
United States had advanced about 107
BOBBY ROTH AS FIELD CAPTAIN OF
ATHLETICS SHOWS WORLD OF PEPPER
Frequently Connie Mack springs the unexpected. It is doubtful that the
tall tactician ever pulled a bigger surprise, however, than when he selected
Bobby Roth, obtained from Cleveland, as captain of the Athletics this season.
Roth has been notorious as an umpire baiter and frequently gets into difficul
ties with fellow players and managers, but he is the combative type Mack
admires. Already Roth has inserted fighting spirit into the Mackmen as
well as a robust punch in the attack. It looks like a great season for the
Athletics and a great one for Roth.
I
per cent above the level of 1913. From
October, 1918, until March this year,
the decline was 6.9 per cent, accord
ing to Dun’s index figures. During
April, despite the agreement to lower
steel prices, other commodities rose
to such an extent that the average
price level on April 1 was only 5.7
below the high point of October 1,
1918.
The return to low prices after the
Civil war was due in the main to the
use of labor-saving, that is to say,
quantity-production machinery. Manu
facture, agriculhire, mining, transpor
tation and business in general felt
the effects. Although we shall go in
for quantity production by machinery
on a greater scale than ever before,
yet the proportion of increase will not
bear comparison with the increase as
between the period before and the
three decades just after the Civil war.
Methods of production must be rev
olutionized if, comparatively speaking,
we are to approach in progressiveness
those introduced after the Civil war.
It was thirteen years after that war
before prices reached the pre-war
level.
We see little indication that wages
will decrease. There may be some
falling off in rentals after a few years
and rates of taxation may become less
burdensome, although, as Senator
Smoot, who is an expert on such mat
ters, has assured us, the prospects of
radically lower taxation for the next
twenty years are not bright.
Gradually, of course, production will
fill the gap caused by war wastage.
Labor will gain on Famine and pass
him. But even when that day comes
we shall have new standards of living.
The luxuries of today will be consid
ered the essentials of tomorrow, and
the new luxuries will replace those
which now demand so much of our
population’s money.
Alaska is extremely fortunate in
having J. L. McPherson at Washing
ton at the present time acting in the
capacity of unofficial counsel for her
interest. He can accomplish a great
deal for the North and is showing his
willingness to do so at every oppor
tunity. He is perhaps accomplishing
more than any delegate Alaska ever
had. His statements as to certain
facts carry much weight, and his at
titude toward the Alaska railroad may
be considered to be absolutely non
partisan and without bias. He has no
interest in departmental affairs which
would render him predjudiced in
favor of the administration or its
agencies, nor has he any political af
filiations in the North to influence and
color his exposition of the facts as
they exist. For these reasons, con
gress can depend upon what he says
to be approximately correst.—Fair
banks Citizen.
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ONE VISIT TO THE ALASKA GRILL WILL MAKE YOU A
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SHOE REPAIRING
Red Cabin (Ocean Dock)
Men's Shoes half-soled and
heels sewed and nailed.$2.76
Rubber heels and soles. 2.76
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Heels, rubber and leather.76
Men’s haf-soles . 2.26
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soles . 2.60
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A and B Avenues