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THE OUTLOOK IS PUBLISHED WERKLY BY THE OUTLOOK
COMPANY, 381 FOURTH AVENUE, NEW YORK. LAWRENCE
F. ABBOTT, PRESIDENT. N. T. PULSIFER, VICE-PRESIDENT.
FRANK C. HOYT, TREASURER. ERNEST H. ABBOTT, SEO-
RETARY. TRAVERS D. CARMAN, ADVERTISING DIRECTOR.

A Novel of the Grand Canyon
and of National Politics
by the author of "Still Jim."

THE

ENCHANTED
CANYON

The Mayflower (Published April 9)

" Its characters are real. Its scenes are real. One
smells the fragrance of Valencian flowers and the
salt sea. The story has the breathless speed, the..
vigor and sweep and rush of Blasco Ibanez at his
best."-N. Y. Times in closing a long review of

this story of Valencian fishermen. Price $2.00
The Shadow of the Cathedral

Deals with the Church and education.
Blood and Sand

A brilliant panorama of what bull-fighting has
meant to all Spain.
La Bodega

Pictures the wine-growers of Cadiz.
Woman Triumphant

The problems of an artist in Madrid.
The Enemies of Women

A story of Monte Carlo in war-time.
Mare Nostrum

A story of the sea and of the difficulties and temp-
tations of a neutral country during the war.
The Four Horsemen
of the Apocalypse

The book which made him world famous-the one
great picture of the war, still tremendously influ-
ential.

Each, $2.15

Why Are Prices Still So High ?...
Mr. Lauck's Charges ....
Is This Makeshift Legislation ?........
Oil Before Honor-and No Assurance

of the Oil..........
Baseball Put on Trial ..
Tell It to Uncle..............

Cartoons Selected by Outlook Readers
Bringing Germany to Terms.........
The Pledge to South America. .....
The President of Cuba ...........
A Princely Scientist
Education "By the People”..
The New Antioch................
Property Rights and Human Welf

A Supreme Court Decision......
A New Bill of American Rights....
Right and Wrong.........
Mary Stuart..............
The Colombian Treaty : A Poll of the

By HONORÉ WILLSIE
A hero whose rise from boyhood in
the slums of New York to power in
Washington politics-andthe canyon's
part in his regeneration-is pictured
surely and convincingly; a beautiful
desert heroine, an inimitable negro ser-
vant, and other live men and women
are the people of this satisfying story.

Net $2.00.

SISTERS
IN LAW

Press.......

By GERTRUDE ATHERTON
A brilliant novel of two women and a
man in San Francisco society and out
of it. “A deep, rich, searching book," says
Charles Hanson Towne, in the N. Y.
Herald. “Mrs. Atherton has never
done a finer novel, never put more into
one volume." Paper, $1.50, cloth, $2.00.

LEONARD MERRICK

THE LITTLE
BACK ROOM

" has written," said an eminent English writer
recently, " the best short stories published in Eng.
lish in the last fifty years." And his fellow-authors
** fell all over each other," as Barrie put it," for
the honor of writing prefaces" to his books. And
among them besides Barrie are such men as W. D.
Howells, G. K. Chesterton, W. Robertson Nicoll,
H. G. Wells, Maurice Hewlett, Arthur Pinero, W.
J. Locke, Neil Monroe and A. Neil Lyons, who says
that the volume published April 18

A Chair on the Boulevard
is " one of the few really amusing books published
during my lifetime" and contains the funniest
story of this century." Its humor has a gay

stimulating sparkle like that of
While Paris Laughed

Pranks and Passions of the Poet Tricotrin.
The Man Who Understood Women
and Other Stories

Compact of wise and witty insight.
Conrad in Quest of His Youth

A quaint and whimsical story of a sentimental
effort to recapture well remembered associations.
The Worldlings

A story in which the villain meets his just dues,
with your full sympathy, respect and liking.
The House of Lynch
The Actor-Manager
The Position of Peggy Harper
Nhen Love Flies Out o' the Window
Cynthia
All of them novels which are exquisitely human,
written from intimate knowledge of the struggles
of the young actors, artists, or writers who people
his most interesting world.

Each, $1.90

Canadian-American Relations .........

Special Correspondence by D. M. le Bour
Athletes- Present and Future.........
A Sight for Old Salts ......
Snap-Shots of My Contemporaries :
Rutherford B. Hayes-Peacemaker .. 18

By Lyman Abbott
Out of the Toga and into Overalls : The
Mind Behind the Hands .........

By Frederick M. Davenport
The Tyrant ......

By One Who Knew Him
Warning (Poem) ........

By Amelia Josephine Burr
Peace in Poland....
Pictures of the City of Vilna as Seen by a

Red Cross Worker
The Book Table :
William De Morgan's Last Novel... 27
The New Books ....

.......... 28
This Week's Outlook : A Weekly Out.
line Study of Current History ......

By J. Madison Gathany
Contributors' Gallery ....... .........
Salt and Balm for Fresh Wounds....
Melodrama ..

...............
By the Way....
Announcement of Prize Winners of The

Outlook's Second Prize Contest.... 40

By E. S. CHAMBERLAYNE
The hero of this novel, mixed up in the
politics of his town, after years full to
overflow with social and political ad-
ventures, finds to his surprise that he
has ideals. Much interesting action
comes both before and after this dis-
covery and makes a very human story.

Net $2.00.
OUR
LITTLE LIFE

By J. G. SIME
A human novel of an undaunted little
seamstress who welcomes to her heart
the strayed, the lost, the suffering of the
tenement in which she makes her
home. "An idyl of the common place ...
so intensely human that it has an inter-
est for all humanity."-Rochester Post-
Express.

Net $2.00.

The Guild Idea in Industry

BY SUBSCRIPTION $5.00 A YEAR. Single copies

15 cents each. For foreign subscription to countries
in the Postal Union, $6.56.

Address all communications to
THE OUTLOOK COMPANY
381 Fourth Avenue

New York City

The average man who is puzzled by the
whole Guild situation-what it means
and how it should work-will finda clear,
reasonable explanation in G. D. H.
COLE'S CUILD SOCIALISM. Mr.
Cole is the leading exponent of the
Guild idea and is Secretary of the
British Labor Research Deparment.
With special Preface forAmerican readers,
suggesting the significance of Guild
Socialism in relation to American in-
dustry.

Net $1.60.

Obtainable from any bookstore or
I. P. DUTTON & COMPANY

681 Fifth Ave., New York

THE OUTLOOK. May 4, 1921. Volume 128, Number 1.
Published weekly by The Outlook Company at 381 Fourth
Avenue, New York, NY. Subscription price $5.00 a year.
Entered as second-class matter, July 21, 1893, at the
Post Ofbce at New York, under the Act of March 3, 1879.

F. A. STOKES COMPANY
443 4th Ave. New York

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MAY 4, 1921

Prize Contest is on

WHY ARE PRICES STILL
SO HIGH?

O most of us, at any time, the prin The Announcement of
cipal problem of life is the cost of
living. Most of us, therefore, will

the Prize Winners in take particular interest in reading the

The Outlook's Second just published reports of the Federal Trade Commission and of the Depart. ment of Labor concerning this matter. From these reports we note that the

page 40 retail cost of food and other necessities has not declined as much as has the wholesale price. For instance, comparing wholesale prices with those of a year so as to eliminate undesirable comago, we find that food has declined 39 binations.

Protection of the farmers by exper cent, but the percentage decrease in

tending Federal assistance in giving the retail prices on food was 22 per

more adequate and timely informacent. Thus retail prices have not come tion concerning market conditions down in proper ratio to the decrease in and in affording better market and

storage facilities for the conservation the wholesale prices of raw materials.

of perishable products. With regard to other necessities, we find that clothing has decreased 46 per

We note the absence of any reference cent and farm products nearly 48 per

to the tariff as a panacea for all ills, cent. On the other hand, fuel and light

which is welcome; but we think it ing materials are about 8 per cent higher

strange that no emphasis is laid upon than they were a year ago.

the chief of all the causes for the high The causes of the high cost of living,

cost of living—inflation. according to the Federal Trade Commission, are unfair methods of competition; important elements of transportation

MR. LAUCK'S CHARGES and credit; and especially the excessive

CCORDING to the newspapers, Mr. W. price of coal, which also vitally affects

A Jett Lauck, the "economist" for the the cost of other commodities. to say railway labor unions, has charged that nothing of the effect upon the health a "capital combine" has inaugurated a and comfort of the people: moreover, policy of Nation-wide shut-downs. Mr. the existence of typical corporate mo

Lauck, so it is reported, named about nopolies; open-price associations, tend- one hundred men who, through intering to maintain unduly high prices: locking directorships, have centered in a interference with the channels of trade

dozen institutions the control of our by distributer and trade associations; wealth in basic raw materials and in and, finally, conditions with respect to railways. He is quoted as follows: "This foreign combinations in the international

interrelated capital group deliberately markets.

deflated the farms and then undertook, The Commission suggests the follow

by precipitating industrial stagnation, to ing remedies:

deflate labor. The dozen financial insti. Legislation to meet judicial objec

tutions—all of them New York institutions to the Commission's authority

tions-are: to continue its efforts in obtaining

"The Guaranty Trust Company. and publishing information respect

The Mutual Life Insurance Company. ing the ownership, production, distrib

The First National Bank. uting, cost, sales, and profits in the

The Equitable Trust Company. basic industries.

J. P. Morgan & Co. Prosecutions under the Anti-Trust

The Equitable Life Assurance ComLaws with a view to strengthen them

pany. to meet present conditions.

The American Surety Company. Encouragement of co-operative as

The National Surety Company. sociations of agricultural producers

The Mechanics and Metals National and of co-operative organizations of

Bank. consumers.

The National City Bank. Legislation to eliminate unnecessary

The New York Trust Company. reconsignments and brokerage opera

The Chase National Bank." tions, including "gambling in futures." A conference of official representa

Mr. Lauck's summary of the situation, tives of the trading nations to consider the question of clearing the

according to the newspaper reports, was channels of international commerce to the effect that this "capital combine"

molds our economic, destiny; that it has
the power to adjust or to misadjust rela-
tive prices in a mannięc to stimulate or
to suppress industrial activity; that this
"focal capitalist group” has deliberately
maintained high prices of steel; cotton,
cement, and other basic materials;”
that “the railways, financed by the same
interests, have refused to place orders
for plant maintenance, or even the
orders necessary to prevent plant and
equipment deterioration;" finally, that
the greater factors in American industry
"are all closely bound together by inter-
capitalist relations and interlocking
directorates coming to focus in the
house of Morgan." While the railways
are pleading poverty, the banks, we
read, "are making unprecedented profits
and declaring unprecedented dividends,
and the same applies to steel, coal, and
railway equipment concerns." Finally,
the “capital combine," in preparing to
precipitate unemployment, adopted, it is
alleged, the policy that the railways
"should do it first."

With regard to these statements, The Outlook wrote to the dozen concerns in Mr. Lauck's list. The replies brought were, as might have been expected, denials of the allegations that a combination existed to deflate industry. For instance, Mr. Alvin W. Krech, President of the Equitable Trust Company, says:

The notion that there may exist in this country a league of banking interests to break down the industrial life of the Nation is too silly to discuss, and therefore unnecessary to deny. So far as I know, the large banking interests of the country, and particularly my own company, are doing their utmost in a very difficult situation to maintain and support the Nation's activity. If a denial of the ridiculous charges said to be made ... is necessary, you may make it as emphatic as the English language can frame it. ... The charge probably developed from the loose talk originating with Senator La Follette.

Another President, Mr. Charles H. Sabin, of the Guaranty Trust Company, said:

So far as the Guaranty Trust Company is concerned, the statement reported ... is absolutely and unqualifiedly false. ... Neither I nor any of my associates ever heard of such an alleged combination. ... Mr. Lauck's statement that New York banks have combined to cause the spread of unemployment is also utterly false. ...

Any observer of the general economic situation must be aware that the existing industrial depression ...

is due to post-war, world-wide con- and wool trusts; that the amount of the Government has entered into in many ditions, and that if capital went on import taxes will be added to the price years. a "strike" against society it would ::.

::: the consumer pays-according to the With the Colombian Treaty the Govbe striking against itself. ... Capital :. which is composed of the savings of:.

nesi.Democratic minority, some $2,000,000,000 ernment hopes to buy the unpurchasall classes, would have more. to lose would thus be added to the cost of liv- able commodity of good will. There than would labor. ... ..: :

ing; and finally that, if we want to help are Senators, too, who hope to secure No institutions or organizations in

Europe to settle her debts to us, we must from the payment of this money certain this country have struggled harder against difficulties to preserve the

be prepared to buy from her; and, as commercial advantages for America financial, industrial, and commercial Europe can pay only in goods, we can which are unspecified in the treaty. We stability of the country throughout

not be paid unless we welcome the com- are paying twenty-five million dollars in this period of world-wide reaction and

modities which we need and which Eu- the hope that the Government to which economic readjustment than have the banking Institutions of New York. ...

rope is prepared to send to us; and it is paid may endure long enough to deThe burden of the situation has fallen therefore we should avoid any possible liver goods which it has not promised far more heavily upon capital than

display of sectional or National selfish- to deliver. As a guaranty of the fulfillupon labor. The values of securities ness.

ment of this lively expectation of favors and commodities have been deflated ... far more than have wages.

The Fordney Tariff is frankly experi. to come we are relying upon the faith Mr. Lauck, it would appear, has

mental and temporary. It has the merit of a Government which has proved faithcharged the financial interests with

less in the past. The chance is one

which would hardly interest even a modbiting off their nose to spite their facea surgical operation which they are not

erately cautious gambler. in the habit of performing.

BASEBALL PUT ON TRIAL IS THIS MAKESHIFT

The opening of the professional base. LEGISLATION ?

I ball season has shown by the crowded Mhe House of Representatives has

grand stands and the full-page newspa1 repassed the Fordney Emergency

per reports that the American lovers of Tariff Bill. All tariff bills are given the

the game (rooters and fans, in the lanname of the Chairman of the Ways and

guage of the bleachers) have not lost Means Committee in the House of Rep

their interest because of the scandals resentatives—as, for instance, the Ding

and crookedness of last year. Baseball ley Tariff, the Payne Tariff, and now the

has been given a chance to establish Fordney Tariff.

itself in public confidence as clean sport. From the quick and emphatic Republi.

"In a very real sense," says the New can vote which the Emergency Tariff

York “Tribune," "baseball is starting Bill received in the House one might ex

fresh, with a new lease of life and a repect that it would go through the Senate International

vival of good will and old-time zest and with proportionate speed. The tendency JUDGE LANDIS OPENS THE BASEBALL applause." there, however, to pass makeshift meas

SEASON

All the more, therefore, serious reures is not as great as it is in the House.

sponsibility rests on managers and on Doubtless most of the proponents of of recognizing the claims of one great

Judge Landis, now the supreme arbithe measure believe that the addition of

body of producers who have been gen- trator in baseball law and ethics. If import duties on agricultural products

erally overlooked in protective tariff baseball is to remain truly the National will check the importation of those prodlegislation, and who, in the interest of

game, it must not be allowed to be used ucts at a time when their prices have the

the whole country, should not be ignored. by gambling syndicates and bribe-givers. been declining rapidly; that an emer

At the opening of the season Judge gency law, operating three months (the OIL BEFORE HONOR-AND NO Landis issued a statement to the period provided for by the present bill), ASSURANCE OF THE OIL

players.
plavoro

He told them frankly that will help the farmer by relieving the M he Senate, after a bitter debate, every player who makes an error in a pinch, and, indeed, will help to steady I passed the Colombian Treaty on game or who fails to play up to the the general situation. Certainly no April 20 by a vote of 69 to 19. The standard expected of him will fall under group was harder hit by the recent Senators who voted against the treaty suspicion. There are charges even now sharp decline in wholesale foodstuffs included 15 Republicans and 4 Demo circulating that baseball players are prices than that of the farmers. The crats. The Republican Senators were planning to make money out of their Fordney Tariff, moreover, provides Borah, Capper, Johnson, Jones of Wash- own misplays. Hugh S. Fullerton in the against the practice of "dumping"—that ington, Kellogg, Kenyon, La Follette, New York "Evening Mail” recounts is, selling foreign goods cheaper than Lenroot, McNary, Nelson, Norbeck, Nor- some of these charges. One, for inthey are sold in the country of their ris, Poindexter, Townsend, and Wads- stance, is that the team to win this origin, and prevents scaling of present worth. The Democrats were Senators year's pennant is already decided upon. tariff duties by valuations made in the Dial, Reed, Simmons, and Watson of Another is that a pitcher is to get money depreciated currencies of Europe. Georgia. Senator Cummins, Republican, for home runs made off his pitching.

The opponents of the bill, on the other and Senator Tramwell, a Democrat, Certain of these stories Mr. Fullerton hand, who are strong in the Senate, were paired against the treaty.

has himself disproved. The chances are believe that it has been drawn for its We publish these names as a roll of that none of them are true at all. The political rather than for its economic honor.

fact that they are circulating, however, effect; that it will benefit chiefly the This list of names may also be said to is an indication of the state of mind of speculators who are holding large quan- constitute not only a roll of honor, but a the people who patronize ball games. tities of farming products which they roll of intelligence, for these Senators There is a strong feeling that the exhought before the decline in prices; that were the only ones who voted against posures of last year were not followed

- in the interest of the sugar, meat, the poorest bargain which the American by sufficiently severe and drastic punish

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