Show Profiteering Is Least Of High Cost Causes Causes' Six Reasons Are Given by Assistant United Sta States Slates es A Attorney ney e r General Howard Hovard 1 E. E 1 Figg in m Speech Before Dry Goods Association A I fly Dj- Associated Assed ted Pros lien CW W YOnI YORK Fob iob 18 Profiteering IS s N tho the last and least of six nix re reasons tone th the high cost of or living given today b by Howard E. E Figs Figg assistant United states Stales attorney general at the tho ninth annual convention of ot the Na Na- National Dry Goods association He as asserted as- as however that of ot the dry Roods goods dealers were wore guilty g of profiteering profiteer profiteer- ing inC and should be punished without trial while ho believed all wore guilty I of ot haying having profiteered perhaps crha s unwittingly or tingly at some time or other Tho first reason for present conditions conditions con con- said the tho speaker is tho the in Increased In- In increased creased volume of or mono money and anti credits second th the wide increase in wages duo partly to war necessities and government govern o ment mont wage scales third le lessened world production fourth increased cost o 0 of distribution fifth reckless extravagance extra gance and a spirit of or speculation and on sixth profiteering I Mr Ir Figg predicted that there thero would bo be no appreciable price reduction until labor considers itself a part of or tho the whole of industry and consents to co co- operate J I 1 do not mean ho he explained that labor must give S1 up its short work days das and its high wages but labor must work a full tull sixty minutes In each hour Labor cannot bo be made to tho the see position po- po po Into which it is ilS putting the entire en ell en- I tire industry of oC the world Mr Ir Figg FISS said adding that no appreciable reduction reduction re re- re I ih In prices could come until all ill Interests labor interests labor public tho the manufacturer pr ducer wholesaler Haler and dis dis- co to co r to Taxes Arc I Factor etor Tho excess profits and luxury taxes are tremendous factors in the high cost of living and one ono tax which can be bo controlled controlled con con- trolled at a a. central contral point must tako their places Mr Figg I said suld explaining that this tills meant a single lo tax lax on tho the consumer H lie lIo declared himself him hirn- self personally opposed to interference with bm business b by tho government CO but asserted that during the present emergency emer emer- gency there Otero should be regulation at 1 least bt of or profits b by some Bomo agency I 1 think tho retailer has a definite part to play In making labor see the light Mr FIgS FIgS' said You retailers are arc dictators to the manufacturers and anel should reflect tho publics public's attitude to tho the manufacturer The manufacturer is entirely saturated with high prices I doubt if lr it can absorb very much more This brings us to the danger of oC an overstocked retailer if IC prices go much hl higher her and I think tho time bo he may not far distant when whon this time timo will 1 bo be 0 seen Women umen Flut In Saving Tho The refusal of the public to bu buy h has been soon seen en In womans woman's attire first tho the refusal of the women to absorb further Increases Men usually are arc considered the more prudent buyers but the tho women wom worn en are first this time I think the necessity for tor a n. reduction reduction tion in prices is 11 to save business The public h in large part has lost confidence dence in tho the big business of the thc countr coun coun- tr try We Va mu must t establish re-establish that con con- I believe belle it is one ono thing the government go can can do We 0 realize in Washington however that wo we cannot reduce prices without tho aid aill of or all interests We Ve are aro not going to allow you OU additional additional ad ad- ad profits for Cor additional risks Goods will have ha to bo be sold at at market prices and will havo to bo be delivered on tho the contract prices Skyrocketing to Blame It It is not entirely the fault of ot tho the retailer that prices aro high I think he lie was largely large responsible a at t the outset outset out out- set for the skyrocketing of or prices I dont don't mean that ho was altogether to blame The Tho consumers consumer's demands put I goods on the tho auction block Tho Tile retailer was the first to realize real real- ize izo that prices too high Ho was tho the first to appeal to tho the govern govern- ment Unless tho the economic affairs of Amer ica lea are speedily spot adjusted tho country countr will have used up Its surplus and wo shall be bo living on nerve Dr David hl Saville UZZO author and educator do declared 0 |