| Show 1 tIG IG i 1919 i RECONSTRUCTION u NOW UNDER tiNDER WAY I II ith Road building Roa building nan Plan Prosperity y y Mansfield L. L Snow OW that the tremendous reconstruction recon- recon I program of ot 1919 Is under VP- VP the tho general impression Is that must como cono throughout nation It Is contemplated that in Iii o lines linos of ot this work ork an aggree e of or will bo be expended rear The present estimation for Zor fords fords ds Is and for buildings 1 ss than lio JO national public road building are placed at Tho The independent road cor construe construe- I U n Inclusive of state slate count county counts and It is estimated at I j i is makes tho the total of the new building program for fOl this fis is estimated as high as i eby Jb some This is by far tho the most stupendous go ng In the reconstruction lino line ever er by this great young Joung giant of ot I Yet there Is nobody who for a moment that the big bl- Job jobU 11 U not only be grappled g successfully impression is that It will m be cried out with scarcely noticeable r rrt rt or straining straining- and also without other largo large enterprises and J ments planned for tor simultaneous I 11 0 n. n IV n IS a authoritatively i a announced ced that L ch 1 i tho the bureau of ot public roa roads s of or v of agriculture had 1 available This was th the e re- re the tle last Congress Con which made eral cral provisions pro for the great record bile bUc road program This largo large o must be matched b by an equal raised b. b by the states On July here liere will be more avail all e This the states must also cover is is makes an aggregate ag of general public road construe construe- 1 for this year vear In addition fo o this Uris ny ny fly states states counties and cities have ha go so road construction work either v vJ under way or planned for the amer This is aggregated at making a grand total for 1919 i dwork d work of ago the secretary of ot agri- agri ture met the state highway l com com- of ot tho the eastern castern and middle middle- stern states to plan for carrying on tHe He now nov announces that the tho I Iclal al ma machinery for executing the gram grain through the federal bureau ot of ds da and th the highway departments of or forty eight states is already alread in ex- ex nce The question of ot releasing releasing- high high- y oj engineers now in the tho military vice lias been taken up with the ther r rotary tory of war with a view to I their services during the tho coming season preference ri to the beginning Inning of the k Secretary Houston has made mache this t ment During tho war It was essary to curtail road construction rations 0 lUS because of or the difficulties securing transportation materials l Lithe the requisite services Now that situation has changed the work worle l I bc e actively resumed and vigor vigor- ly ly prosecuted prosecute d notwithstanding the conditions are arc still abnormal some respects especially with ret ref rice Il-ce to prices of materials and plies piles It Is not believed that the pie pic of oC the nation can wait walt for COl prices recede before beginning industrial rations Such hesitation will add to difficulties instead of ot lightening rn m. s s' s was announced in last Sundays Sunday's ald ld in the first few fo weeks s of or this year building permits In this country countr aggregated I For or the entire year ear this Is expected to amount to or more The 1917 i buildIngs buildings build build- ings amounted to while the aggregate for 1916 was There are ore also planned great government govern govern- ment irrigation and general reclamation reclamation tion tiem schemes for the bringing bringing- In of ot hundreds of ot thousands of oC acres of or new lands to productivity Big shipbuilding shipbuilding ship ship- building work worl Is under way in tho the I United States today toda large sums are being expended in new and enlarging I old manufactories also in the return J from Crom war mal war making on a big big- scale to I J pence peace conditions I al-I Coming Coming- closer to home Utah has al- al started In on its great 1919 road construction work worl It also has under consideration backed by the government government government govern govern- ment several se large irrigation schemes The Green river rl project contemplates bringing bringing- under cultivation several sc hundred hundred hun hun- dred thousand acres tho the Provo Pro river rl Ogden river project ct has in view gating acres of lands hands f Cedar valley alley Rush flush and valley while hUe there are several so smaller agricultural agricultural tural constructive matters contemplated for or 1919 Culls Calls for tor Tons of Metal All An this constructive work worle Is Ie ex expected ex- ex to prove a. a great incentive to the western mining industry as require thousands of or tons of oC various kinds of at metals It Is thought ht that tha when the tho movements rno get under wa way 30 within the next few fe weeks that there should not be an Idle Illie man in the nation and that every man will be employee employed at remunerative work This Is taken as practically a n. guarantee that the summer of or 1919 should be one of at extending ex ox- tending and magnified activity anc and prosperity and that the pro program ram of ot good times should spread not only through 1920 but hut on Into other years R Relative to the tile 1919 building situation situation situa situa- tion S. S W. W Yo Straus of or Straus Co New Nc NewYork York says sars Reports from all parts of or the country country coun- coun try ry indicate that building conditions are areat areat areat at least one ono year ear behind normal de dc- de- de mand mancl That estimates are con- con ser may be bo Judged from the tho fact that hat total building building- work in tho the United States In 1916 was and In 1917 while various arlous can asses of at the tho situation indicate a present present pres pros ent ont building deficit far tar in excess of ol With this strong pressure pressure presure pres- pres sure ure back of ot tho the market and the accepted ac- ac cut In steel prices for tho the balance balance balance bal bal- balI I ance of oC the tho year ear stabilized conditions are pre being manifested everywhere e in the countr country Although structural steel represents less leaa than 20 O per ncr cent of oC construction costs the determination of ofa no a x definite te price basis has placed tho whole situation on a solid footing It was vas quite generally felt that war after steel teel prices would be he much lower as this his commodity advanced all more in price during the tIle war than other building ma- ma Meanwhile there are Indications that lumber umber ma may be expected 1 to adv advance nce In price eventually e This expectation Is Js based fundamentally on a tremendous demand as a result of ot the building shortage hortage and a largely largel decreased pro- pro In 1918 there was a shrinkage or f feet as compared with 1917 i pro production Furthermore all Indication Indi cation point to a vindication of ot the views CI of those who have ha been contending contending con- con tending ending that there thero will be he no general reduction In wages In the tho steel industry Indus- Indus try tn ry for example It it-is it Is announced that price reductions will not be made at athe atthe atthe the he expense nse of labor Current reports Indicate that pendIng pending pend- pend Ing ng building projects throughout the country countr have reached more than which amount will be bo greatly increased within the next few weeks under the stabilized conditions that now arc are being being- rapidly brought about In n the metropolitan district of at New NewYork NewYork York now no projects have ha been increasing I ing T S g at at th the rate o of 5 a week I Since Ince the first 01 or orA la lJ A A tremendous shortage of or homes I exists In Canada CanarIa as well vell as In the United States The Dominion an and 1 provincial pro- pro governments are w working rl on a aPlan aplan plan to lend to prospective home builders This sum would pro pro s vide id housing housing- facilities for or peo peo- pie In New Jew York City there is an estimated housing shortage equal to the normal requirements of ot a city of ot p population General conditions therefore Indicate Indicate Indi Indi- cate that nothing Is to be gained by holding off oft for Cor lower prices now nn and that the tIe unusual building activities which must continue continuo over o a period of ot otman man many years ears before normal requirements arc are met has definitely begun General Situation Improving Commenting on the general SItuation Situation situation situa Situa- tion in the United States Henry nry Clews 6 Co New ew York bankers says s 's In spite of or confusion contusion financial conditions con con- have shown some Bome Improvement during during- the past week The corning coming of or ef effect ef- ef spring invariably In has a feet upon business us and this may conduce eon con duce UCe to optimism but such an an Influence ence Is strictly limited and the thc present pres pres- exit ent undertone of ot confidence IK Is based upon something more tangible than tho the mere shifting shirting of or seasons The Tilo doings at Paris laris must bo classed as IS one of ot tho the most Important factors True surface news has haM not been heen developed de favorably ta and vexatious dela delays are occurring with a persistency that incites considerable consid consid- erable irritation Much ruch of or the Information information tion given I cn to lo tho the press however cr Is apparently up- up superficial and amid dwells chiefly upon what Is 11 a abnormal normal and threatening often omitting omitting- what hat is really Public opinion the world over Is h h becoming becoming be be- c coming Impatient at dela delay and those In Iii char charge e of negotiations are not blind to protests for or both the tho peace treaty and the league of nations are alo probably bl near nearer I. I accomplishment than Is generally supposed When hen some of ot tho the pr present sent hitches a aro ai lC removed remo agreements agree agree- ments will he be J readied reached more rapidly Of course the all important object Is peace peate a peace confirmed b by mutual ac- ac of or t terms la is more pressIng pressing press press- ing in- than titan the league uc of or nations Then rien I the lie unhappy peoples of Europe can return re turn to wor work partially forget their I I I sorrows and hasten the return to nOI norI nor noi I I l I mal mul con conditions ns The Thc sooner commerce and Industry are allowed to resume resume their natural channels the better for tor forthe the time whole world That Is the thc only cure for tor Bolshevism as well weH as the man many other Isms that are upsetting nation after aCter nation Force may mar be necessary In some Instances to restore order but the chief needs of or humanity are an an In Increased In creased production and a a. better distribution distribution distribution distri distri- of ot food clothing shelter and communication atlon all of or which have hac been largely larg destroyed or deranged by br war Victory Loan Lonn Certain II From now on tho the Victory loan will loom larger lan and larger In national af at- at fairs There Is no doubt that tho loan will win be a success and will prove a good short term Investment yieldIng yielding yield yield- ing an attractive o return to the buyer It should exert little If It an any effect upon tho the mone money market as nearl nearly of at treasury treasur certificates have already alread been sold which can be bo turned In for tho the new bonds To that extent the new bond Issue has been larg-elj larg discounted but the more these bonds are aro taken by tho the public the less will be e tho burden upon the tho banks whose resources will win then be correspondingly free tree to take taka care of business requirements It is of oC the tho utmost importance that these bonds be as widely distributed as p possible possible pos pos- sible not merely as a matter of oC public policy but also as a a. matter of oC aidIng aidIng aid- aid Ing lug the restoration of or business to more normal conditions The most significant significant cant feature of tho mone money market was the prompt o for tor tho the war finance corporation bonds These were issued on a a. D 6 per percent percent percent cent basis bash and show what might bo be expected if it the forthcoming Victory loan lan was also placed upon business terms There is evidently a large amount of oC capital awaiting Investment Invest Invest- ment meat providing the terms are satis satis- factory factor It I Is to be ho hoped the administration administration administration adminis adminis- at Washington will disregard political considerations and make the tho rate upon the tile now loan sufficiently liberal to insure Its success Other nations have met market conditions in such transactions and a similar policy should bo be followed for tor prudential prudential pruden pruden- Hal reasons b by the United States Stales lrI Come Down Don Slowly l. General General trade Is fairly active and the readjustment to peace conditions goes steadily on There are aro still man many uncertainties to be faced laced particularly particular adjustments in prices and In the relations relations rela rola- with labor lobor The conflicting forces are arc very f strong trong Tho The c entire public is Inter Interested sted in a lower cost of or living which can be accomplished only b by lower prices But lower prices cannot be accomplished under rising wages and shorter hours hour Producers aro are frequently cutting prices at nt first firsthand firsthand hand particularly In the tho textile and metals industries Retailers however however how how- ever are arc generally g unwilling to make male corresponding reductions Some ef effort of- of tort fort has peen been made b by the government to bring about an adjustment by government gO t stab stabilizing notably In tho the case of ot steel products pro which have ha alread already fallen tallen 10 to 14 per cent Gov Government Go e ram en nt t. t e efforts r ts I In n re regulating gu I a U a g I prices hO however e proved a disappointment disappoint dIsappoint- ment Director General limes of ot the railroad Administration refusing refusing- to ro tho the figures named b by the In Industrial Industrial In- In board Producers were ere naturally naturally j in-j ally displeased at this failure t to to- tomain maintain main maln- tam tain values and amI secure more settled conditions while consumers on theother theother the tho I I other han hand were looking forward to the purchase of oC necessary mat materials at more reasonable figures I ures I conflicts of or opinion must be expected or or somo some timo time to come The They are aro likely ely to become more acute acuto rather than less and the uncertainty resulting resulting- will have Ilava to be philosophically accepted as a apart apart apart part of tho readjustment process There Thore remains a a. fooling feeling of or uneasiness regarding regarding- th the unreasonable demands ns of or labor which every Intelligent person per per- son bon understands will 1 tend to increase the already nd excessive high cost of ot liv living liv- liv lit InS ing that In turn must tall fall heaviest hea upon labor Itself by reducing employ employ- mont ment 1 |
