Show PH i I CETA SAYS A f P POST T Assistant Secretary of I Lab Labor r Predicts Fine I Times After the Fe- Fe Pe-I Pe nod of Readjustments j I By A. A E. E GeldhoF I N. N E. E A. A Washington Bureau Aio N I Before S S next winters t i I I I j I I j scow W flies this country will experience ex- ex the greatest p period r od of D. city r in its history in the theon I on i f f Louis F. F Post assistant cre rJ r a of df labor In an ani i he gave me today First however we must weather a r i d of rea readjustment that will test II the fiber of the people to the utmost t at perIod may bring suffering II It may may bring empty stomachs said II Post but on once e it Is tided over over an i era of prosperity will follow that will willI I exceed any tine Ie United States ever i I had I REASONS FOR PROSPERITY I There are two reasons for my pre pre- I diction First historical precedent After I the Civil war from 1867 1861 to 1873 1813 this I country saw boom times the North especially Prosperity finally led to j I speculation and speculation increased to such an extent that prosperity finally collapsed Booming times nat nat- nat nat- naturally I create the impression they will last forever that is one error we must avoid after this war ar My ly second reason Is economic and based on the fact that all the soldiers who are coming back Into I were taken out of Industry in the first place Why hy shouldn't there be places fOl every everyone one of them when they re return rn DEMAND FOR LABORThe LABOR LABOR- I IThe The demand for labor if it doesn't become greater reater than it was before the I war will at t least absorb all the supply I Unless our demand for Plo I j has fallen off we shall have a demand for more labor than we ever had unless before immigration Increases in the next few years ears The needs of Europe In reconstructing reconstructing re- re constructing herself will prevent that We face a perIod of dislocation In industry due to the chan change e from a a. war to a peace basis That period was unavoidable lIow long this period will last I cannot say It may be two months or three or four but T I think the country will have readjusted itself before next winter Unquestionably the labor surplus Is slowly Increasing I have haye here the 1 figures for feir the first three weeks In February gathered front from concerns I In different cities On February I 11 1 these firms employed ed I Imen men 01 February 8 they employed i men and on February 15 the II number had fallen to l From rom the first to the thc fifteenth they laid of off i a total of men men i J t PRICES AND WAGES I IDo Do YOU think wages and prices I will come down after readJustment I asked I 1 think prices will prices will largely remain j stationary Post replied The They i ista sta stayed ed up after atter the Civil war for aa a I number of years ears After Arter all what difference does Jt it I make It if the cost of living remains I high so long as wages ages also remain i high hl-h The monetary standard Js is merely merel nominal n a dollar Is only a I dollar so long as you ou call It a dollar doUar If wo we called a dozen eggs a dollar they'd be d d dollar I The m eal problem is isto for tor each man manto to he be able to get the equivalent ot of full uil for the work worl he gives Business m men n and are overlooking the fact that time the real Continued on page 2 t t.- t. PROSPERITY Continued from page 1 1 employer of labor is the consumer consumer- I the laboring man himself Every man who is put to work I whether it be building a house conI constructing con con- I a road or digging a ditch is isi i employing other men men who who- sell him food and clothes and there In I turn employ others who manufacture I the food and clothes I why the labor department is urging persistently the opening up of public construction and road building I to take up the present slack In the labor market These buildings and roads may not lot be e needed now and the cost of at building them may mar be abnormally high but the they gIve employment to thousands ot of men who in turn will give employment to thousands thousands thou thou- sands ot of others and thus the country will be saved from hunger next sum sum- m mer sum sum-I J |