Show TO STIMULATE BUSINESS the governors and mayors in attendance on the recent washington conference appear to have been convinced pretty generally of 0 two things there is to be no immediate or marked reduction in the price of 0 building materials and labor wages and an immediate resumption of build ng and construction activities throughout the country more than aej any other one thing is essential if business is to get back bach to the as usual basis of 0 peace or nr the better than usual possibilities of the present and future some went to the conference believing li materially lower prices might be had it if the federal government would just do something others were convinced that the situation would take care of itself it if the government would do nothing but keep its hands oft off business and let the law ot or supply and demand run its course these latter were disposed to believe prices in tile building and construction industries were too high for this reason a statement by prof irving fisher of 0 1 yale ale university an acknowledged authority on price and market conditions in which lie he says the united states has reached a new price level ind find it is doubtful it arices ever again will go back bach to the prewar pre war level was read with interest prof fisher says that one certa certain III way to bring about business stagnation is for everybody to wait for business to get better prof fisher states it this way the fundamental practical question confronting business men is whether the general level of prices is going to fall in III my opinion it is not going to tall fall much it if at all we la ore re on a permanently higher price level and them the sooner the business men of the country tale take this view and adjust themselves to it the sooner will nill they save themselves and the nation from the misfortune which will come if we persist in our present false hope this international authority on oil prices shows there have been times in history when new price levels were established lie he says the general level ot of prices de rends upon the volume and rapidity of turnover turn over of the ch medium in III relation to the business to be transacted thereby if the number bumler of dollars circulated by cash and by check doubles while the number of goods and services exchanged thereby remain constant prices will doll double the great price changes in history ai have come about 1 in n just this it manner antler 1 the price revolution of tile the sixteenth cerl century tury came upon europe as 1 a I result of the great of gold and silver from tile the mines of the new world europe was waa hooded flooded with new money more alore counters were used than llian before in fit electing effecting exchange 3 and prices became high people talked then of temporary inflation just as they talk of it now but it was not temporary it was a new price level A similar increase hi crease in rices all over the world occurred laween gween 1896 and 1914 following tile tiie of the rich goldfields gold fields ot of south africa cripple creek and klaska alaska the invention ot of the cyanide roceil in mining and the vast ex bension of the use ot of bank credit after analyzing our gold supply nd c credits bedits ind and pointing out that rices in europe are nginr man in america prof fisher arrives at this occlusion business men should face the act to talk reverently ot of 1913 14 frices is to speak a dead language oday the buyers ot of the country ince the armistice have made an un sampled xam pled attack on prices through their waiting attitude and yet price recessions have been insignificant rhe reason is that we are on a new agh price level which will be found i stubborn reality business men ire are to lo find out that the clever man mail Is not the man who waits but the ne me who finds out the new price acts and aits accordingly at the same time prof fishers conclusions were made known there ame from the division of bublie yorks and construction develop nent of the U S department of labor a resume of the corx or ton ten or belv eleb e experts on price and market conditions ons here again it was made aann there is no evidence he expectation of a general magerl il A reduction in the price level ilias s deport makes these statements the fact is that cot cost ot of construe ion is not high today it 1 Is low compared om lora pared with food clothing and commodities in general although t ome readjustments in the wages ot of individual trades and in jhc thc prices of individual classes of building meeri ils may take place the cost of collit ruction will not come own to such h extent as to endanger a judicious divestment estment ri nv made today in the arec ion on of a new building the washington conference was ailed to discuss ways and mean of stimulating lating business and providing luffer employment for labor during he period necessary for industrial ead adjustment it was submitted that dilding building uil ding and construction work d these two purposes durpos s more com colli artely and directly than any other tt industry it was brou brought glit on out t that tha he country is short between rid nd a million li homes tImes therefore hile icille public officials are going in for bublic improvements many are organizing own your lome campaigns these serve sev ral important and desirable ends tome lome owning means home building lome ionie building means labor and Almu stimulated business in every locality chere a dwelling Is built the hom e is a better citizen because his ery ownership makes him response ile and immediately interested in the octal ocial and political welfare ot of ills his om further the home own r does not take up quickly with rad cal movements such as now are threatening the security of govern in europe the department of labor through he division of public works and construction development is cooperating with many communities in the own your home movement |