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Show I CRISIS NOT YET PASSED. We find Henry Clews, in his weekly letters, to have a grasp of national na-tional issues. His letters are always on broad lines and his ideas clearly stated. In his last public statement, the famous banker offers a word of advice which is timely : President Wilson is doing his utmost to hasten ratification of the treaty, and with some success. No treaty probably was possible that would satisfy in all respects, but the Paris conference confer-ence may have secured the best settlement that could be procured pro-cured at the time. To reject the treaty would be a step backwards, back-wards, placing the United States in an unenviable position before the whole world. As a nation we cannot shirk some undesirable undesir-able responsibilities which encumstances and our great future have imposed upon us. Next to the peace treaty the labor problem prob-lem is the most pressing. Though the disposition of the conservative conserva-tive element in labor to go slow is encouraging, it would be a mistake to assume that the crisis is over. The radical clement encouraged by past successes is still running strong; and unrest will not subside unless reason regains its sway or until there is a halt in the rising costs of living. But, how is it possible to reduce re-duce the cost of living in the face of rising wages and shorter hours? The only possible way of reducing prices is to increase the product. Until labor leaders and their followers realize the utter impossibility of securing what they want on present lines there can be no change for the better. Neither President Wilson, Wil-son, Premier Lloyd-Geoi -ge, nor any other man however powerful' pow-erful' can indefinitely defy the laws of nature. The law of supply sup-ply and demand is one of these laws. It is wrought deep into human nature and is among the most inexorable. It may be set aside temporarily, but has always asserted itself ultimately; and the longer its forces arc resisted the greater the flood when the dam gives way. The next few months will bring important events into the labor world. Several large conferences are to be held at Washington, and it is essential for all concerned that wise counsels prevail. |