Show OD S DUE DUEL A AFTER FTER THREE PROBLEMS ARE SOLVED n May Promised Times Come to Young Giant of West Think Three Questions Now Await Settlement OST right now v in iu the minds of practically every Utahn and business man in the the- United States is the tho When sent of postwar stagnation terminate and find the big times enl x 3 Iti the tho fifth Liberty loan is out of tho the way not until the great has been at least fairly well settled and not until tho the thoD D tide of lo labor or unrest has been een met an and justly is is tho the opi opinion on of a good many financiers an and others who 6 C ecar car to the business sounding board of the nation erica tho the young Joung giant of the west can con meet an and successfully i another huge Liberty loan is a foregone conclusion that it will a. a succeed with tho the big big railroad pl problem blem is but hut tho the matter of i c and md that a country that will cast ns aside otlo everything C held dear dearr 5 r liberty and the rights of humanity will wisely and humanely vage question seems as certain of achievement as fiS the tho rising of the sun Bun Liberty loan will como come on in April and within sixty days dars 10 victoriously bb m m t. t I And yet ct the way ay the values in tho Fourth declined until t today Jay the little bondholder er sees moro than his hiss rs s Is interest vanished will make this last loan bait slow sledding ding A Afif Atif if forced to sale will not bring its holder to today ny moro more than about 1 whole years year's interest is hut but That the government mn made e et to t stabilize tho the loans lonus is declared in tho the following from a Now New nl nl people coplo cro concerned over oyer udo O of ot tho liquidation under i perty ert bonds toward tho close ar ir little attention was dl- dl Who ho was absorbing the tho largo large 4 cing quarters an nn effort to who was buying elicited tho the thoon ii on that tho the government Is I understood to have o again been utilizing ing InS its Hs sinking fund anti and in Ia tile the closing clos cbs ing lays clays of oC the ye year air readily absorbed tho the fourth Liberty Libert bonds as ns the thc were dumped on the tho market The last day of ot tho year saw millions of ot dollars of or Libert Liberty bonds turned over or and while a tl largo large part of ot this liquidation Was a as attributed to corporations and others who sold to reduce their taxable in In n come it tt is s said ala that the government wag waa tho p zno mo factor in causing tho the halt bait in declining valUes valLies for Liberty Libert bonds It was waa stated that the thc government government govern govern- ment mont bought heavily of or the fourth Hs 45 around round 94 94 and these purchases stab tho the market materially 1 Earlier when tho the fourth Liberty loan lom Was listed on the tho o exchange change the price for tor the issue was pegged and It was WS as some somo time before the Us nold below 98 Liquidation however became so large re that it was impossible for tor the government to support the market further and It is not believed ed that it mado further purchases until tho the bonds declined to around 9 94 I 1 As has been pointed out the savings s banks have been acquiring Liberty bonds in the These Issues at recent low prices present an nn attractive investment estment to these institutions netting netting net net- ting a n yield It is said that millions of ot dollars dollars' worth of ot Libert Liberty Liberty Lib Lib- ert erty bonds have been purchased b by savings s banks during December Tho The opinion is prevalent in banking circles that tho the wave of ot liquidation in Libert Liberty bond issues has spent Itself and that during tho car early curly weeks of or orthis this year a decidedly better bettor market marItal will vIli develop for tor these securities nl Big nm Help Mine As Aa to tho the railroad situation it Is hoped that there thero Is centered cent in the nations nation's legislative halls at Washington Washing Washing- ton sufficient wisdom om and good sense to settle this problem and settle it quickly It is generally understood that among mong the greatest weaknesses of ot the American railroad is its vastly I watered stocks paralleling of ot linos lines I duplication of ot offices and high salaries I and finally its inadequate terminal fa facilities fa- fa a- a duties The latter results in congestion tion of ot traffic and a wasteful use of ot railroad capital As one writer says saya We must provide sufficient credit for tor forthe forthe the railroads to expand th their lr facilities to moot moet tho the constantly growing commercial com corn mercial pee needs peeds s of or the country Whether this shall be bo done dono under government supervision or government ownership it must bo be done and there is every cry reason for tor believing that the tho wiser wisor plan would bo be to accomplish It under private ownership of or tho the carriers cArrier with government SO supervision and opera co t tion Ion And such a n. construction pr program would give tho the mining industry of ot the west tho the very ory Imp impetus tua it today badly needA It would insure steady employment employ employ- mOnt ment for tor tens of ot thousands of or Utah and other othor miners and would brace braca up upa upa a great Industry which today la Is moro more 0 less in tho the dumps This comes comos back to th tho question of or labor The Tho thousands of ot returning miner soldiers added to tho those whoso whose Jobs are today lost or momentarily threatened will make malo a a. new now army of ot unrest unless tho they immediately find suitable and satisfactory work It Il looks almost as ns If It tho the national l must be inaugurated before the western miner may look for tor permanent permanent per per- manent relief And many months aro are expected to lapse and somo some say a year ear before this big governmental machinery machin er cry ery can be expected to get ct well under underway n way In tho the great c northwest the tho ship and metal workers are striking by tho the tons of oC thousands thousands' Tho The so seed sod d of ot dl discontent discontent dis dis- content is boiling in their blood Agitators Agitators Agitators Agi Agi- aro at nt work and tho they find warm reception Already a a. movement is on onto onto onto to organize under heads not unlike the radicals of oC Russia Russin and Germany and Austria Tho Soldiers and Sailors Sailor Councils are aro nesting It is boldly announced an an- flounced that the returning soldiers and sailors will be met and if It possible possible- to Join tho the now new and ana threatening threat threat- at- at ening organization Organization Uon is good for tor tho tim workman it has hns wrought wonders in tho the past decade but with hot headed radicals with flaming torch and sword as in Russia Russia Russia-it it becomes 1 a sweeping fire of or death and destruction of ot till 11 man holds near noar and dear ar Critical Problem of Dr Dealing In a way with this critical matter from Washington comes comos word that tho the future of ot labor bor constitutes one of or the most critical problems of ot the tho postwar period and tho the government is turning Its attention toward its solution solution tion with n a measure of or anxiety mingled with declared d optimism Many of ot tho proposals for tor speedy y and satisfactory readjustments are re of ot A II na- na turo that would require favoring los log l Social Insurance was seriously advocated at it the tho twelfth annual annun meeting meet meet- ing lug of or the American Association for lor Labor Labor La Ln- bor Legislation just Juat held at Rl Richmond Va Samuel Lindsay president president dent of ot tho the association declared In his opening address that social Insurance seems to He lie at nt tho the heart of or the tho most promising solution of or tho the great task of or social socia and Industrial reorganization and reconstruction which tho marvel marvel- OU otis oua changes ngos throughout tho the world have o forced Up upon n jus us I Tho The announcement by tho the secretary of ot labor of ot the tho creation of or a new division divi sion slon of ot tho the department tho the purpose of ot which is to interest the tho nation In public public pub pub- lic lie works and private construction is or tho need for tor up opening every evory channel of or information n ro regarding employment opportunities While tho the claim Is mado made that nothing will wm be bedone bedone done ne to stimulate economically unsound enterprises tho the process of ot stimulation Is obviously Involved In the tho establishment establish establish- mont ment of or tho the now new organization Considerable Consid erable encouragement Is 13 based on tho the ability of ot many to purchase In wider markets m than before because of ot the larger purchasing power which has como come to tho the masses as a result of ot the war and its attendant high wages Tho probability Is that every overy of ot tho the labor situation will bo be reviewed by Congress as the releases from m military tar I service assume larger proportions Here are aro a tow few of oC tho the subjects mentioned d in tho comprehensive e resolution already I introduced by Senator enon providing provid Ins ing for tor an nn Investigation of oC labor condl condl- Establishment of ot a n. national board to review differences between employers and nd of ot employment development c of ot the United States employment service Into Inlo a federal labor exchange centralized control of ot the housing projects undertaken undertaken under under- taken during tho the war promotion of or better living conditions extension of or soldiers' soldiers and sailors' sailors Insurance to civilians civilians civil civil- ians insurance nce against sickness and death Insurance at low rates a national minimum wago law extension of vocational education to ci civilian ci- ci vilian vUlan workers who aro nto crippled by accidents accidents ac ae- ac- ac and a general Inquiry into ways wn's of Sr bringing about hotter better understanding understanding under under- standing standing- between employers and their Ono One cannot separate sep the tho cost of ot liv lIv- In ing from the tho wage wago question Each Is vital to tho the other Relative o tl to tho cost coat costor of or living an nn eastern statistician st says An estimated Increase of ot G C j p per r cent to 70 to per ver coat cent in tho the cost of ot living between between be be- twe tween n July 1914 and November 1918 for tor wago wage earners rs In representative In Industrial industrial tn- tn I communities in the United d Stat States os is ls reported by the National In Industrial Industrial In In- conference boar board Increases In cost of ot tho the separate Items Hems entering into the family budget were I I I Pet Pct Food 83 33 Shelter 20 Clothing 93 03 Fuel and light 55 65 Sundries 55 The budget of ot tho average workingman's workingman's workingman's working- working mans man's family according to careful In Investigation Investigation In In- by government and other agencies Is distributed among the tho different dir dif 1 ferent forent Items approximately as follows Food 43 per cent of or tho the total shelter IS 16 per cent clothing 13 per pcr cent fuel tuel and light 0 a per cent sundries 20 per vcr cent Applying the tho percentages of ot increase In In- crease up lip to November 1918 1913 as In indicated indi l. l by tho boards board's study to these respective items the average Increase I In tho the cost or of living as ns a n. whole Is la per pcr cent It should be recognized that no sin sin- Ingle In In- gb gle average verago will apply to all ahi communities ties tics or to all 11 families In the tho same com corn Tho The Increase hero shown Is Is I however o we v e r broadly re representative pres on ta t ive In certain communities hero thero there wore were abnormal increases in rents rents tho the estimate esti esti- mate for tor tho entire budget would havo have to bo be raised somewhat As each 5 S per percent percent percent cent increase in rent adds adde about 1 per percent percent percent cent tf tho the budget as ns a n. whole this ad adjustment adjustment ad- ad can easily be mado Local variations In the tho cost of or fuel would havo have only slight effect on the complete budget For foo food 1 figures collected by tho the I United States bureau u of or l labor bor statistics wore rolled relied on entirely since they are arc representative e and t the tho o most complete completo available covering over 2000 stores in 4 4 cities Th The advance of ot 83 per cent in tho the cost of ot tool foot reported b by tho the United States burdau of ot labor statistics Is based baled on average a prices for tho the year ear 1913 which have havo been taken a as a R. A satisfactory pre pre- war var standard This figure marks th point reached b by food prices within the period of or the tho war tho-war War nr Thu Tho greatest increase in tho the five five- year interval from November 1 1913 1013 13 to to November 1918 wore were In tho the prices of ot lard rd bacon bacon cornmeal flour sugar and 1 pork chops cac of or which advanced per POl cent cont or more mere No article of or food tood for tor which prices were collected showed an of or less leas than 50 pc per cc cent t for lor tho year five period Tho The boards board's estimate of or ch changes Inthe Inthe in inthe the cost of ot living should not be confUsed confused confused con con- fused with changes In wholesale price Index numbers such such as Duns Dun's and of tho the Now York Times Annalist A As shown In tho the boards board's previous report such Wholesale v commodity price changes do not run r-ir 1 with In retail prices i In times i s of t rapidly aid ar rising prices especially wholesale quotations quotation tend to advance faster than retail rotan Furthermore Fur Fur- such wholesale commodity price index numbers number while a valuable reflection of ot market conditions do not take taka account of ot the fact that different items have varying Importance in the family budget In short they ar are Aro not nota a measure of or charges in the tho cost of ot liv liv- InS ing Somo are aro of the tho tt the tha labor la Ia- bor question will never be safely and sanely settled nettled until two major points are arc mot met Ono One Is a a. dally daily wage and paid weekly commensurate with the tha linG lino of or employment as to years necessary of or fitting and risk to lito and limb Theother The Tho other is that along with this the wage earner must share In the tha profits made mado by his brain and brawn Nice points and It will take Wise Just heads bonds to mold down to a final satisfactory basis Tho The average go wage wago earner c of or today Is alive to his Import Import- anco ance Ho lie Just how hew essential is 18 his good right arm to tho the success of or every cry business s Nothing can bo be created without labor and the laboring man h has ha 3 finally awakened to toa toa a 3 ful ul realization of ot it And yet tharo stand tand out with equal prominence in invention In- In management and the tha all n. n I ec c- c essary capital which have hare their and must receive consideration and Just rewards |