Manawatu Herald TUESDAY, OCTOBER 28, 1919. CONDITIONS IN AMERICA.

Manawatu Herald, Volume XLI, Issue 2047, 28 October 1919, Page 2

Manawatu Herald TUESDAY, OCTOBER 28, 1919. CONDITIONS IN AMERICA.

THE whole country has been seething with industrial disturbances, Messrs John Dunn, Son, and Co. write from New York on September 3rd. As a.result, wages have mounted higher and higher .until rates in many instances are almost past belief. The underground and elevated public service' railways, and many of the surface lines in New York were paralysed tor a few days with resulting inconvenience to business and distress to the general pub - lic., Settlement wasTmally made by granting the demands of the men in

large measure, and as the companies are already being operated at a los's, the outlook for the shareholders is not bright, The strike of railroad shop men, which was beginning to cause a serious curtailment of railroad service in some parts of the country, has 'been .discontinued on must of the roads, the DirectorGeneral of Railroads having taken a lirm stand against any higher wages at this lime, except for an increase of four cents per hour which was granted to put the wages of these men on a relative equality with those of oilier branches of the service. The railroad employees have submitted a proposal that the railroads be purchased, by the Government and turned over to them to operate, earnings over and above operating cost and charges to be divided equally between the public, and the employees. That such a request should be taken seriously and presented to Congress in the shape of a formal Bill is a striking commentary on the times. Business, generally speaking, continues active, with demand far ahead of production in most lines, Retail trade is of very satisfactory proportions, sales of jewellery, automobiles, musical instruments, -and all sorts of luxuries, being without "precedent for this time of the year. The outlook for the future, however, is considerably clouded by the persistent demands of labour, Government-interference in the effort to reduce price.- and the threatened curtailment of exports due to the exchange market. The shortageof . proper housing facilities, with

consequent advancing rentals, i.s still much in evidence, but despite scarcity of labour, strikes, and the advancing cost of building materials, good progress is being made to roleivo this condition, and permits issued during July call for the largest outlay for this purpose'ever recorded for any one month. In view of the steady fall hr the rales of exchange with'European countries, the foreign trade statement' published for July is of peculiar Exports for that month, while of comparatively full volume, were less by some £70,000,000 than those of the preceding month, while imports increased by £10,000,000, This indicates that the great 'drop in exchange rates'is bringing about, to some extent, its own cure —a decrease in outward trade and a greater volume of imports.