26 



HARDWOOD RECORD 



April 10, 1921 



this information be widely and promptly distributed to the public 

 and to the industry, including both buyers and sellers, and that 

 all producers of lumber be urged to diligently assist in this under- 

 taking. ' ' 



It is presumed that this will meet all governmental objections to 

 compilation and exchange of price and other statistical data on 

 lumber, by virtue of the fact that the statistics will be as free and 

 as accessible as the market quotations that daily appear in the 

 press on such commodities as wheat, cotton and livestock. 



Resolutions Adopted 



The substance of the eleven other resolutions adopted is as 

 follows: 



1. — -That the Department of Commerce of the present Administration 

 he commended for its express policy of fostering foreign trade relations ; 

 that its proposed plan be prose- 

 cuted with all possible haste, in 

 order to assist in relieving the stag- 

 nation of American industry by de- 

 veloping new markets tor its poten- 

 tial surplus production. 



2. — That Congress be petitioned 

 to fund the national debt with a 

 liond issue bearing low rates of 

 interest, tax free provisions, and 

 amortized over a period of 30 years 

 or more. 



3. — That in the immediate future 

 all such government control and un- 

 limited regulation of business, as 

 required by the exigencies of the 

 war, be abolished in order that 

 American business may resume its 

 progress unfettered by these unnat- 

 ural, uneconomic and impassable 

 barriers. 



4. — That Congress as soon as 

 possible remove the blighting hand 

 of government control and opera- 

 tion and that the government dis- 

 pose of its interest in the fleet of 

 the American Merchant Marine, 

 either ')y sale or lease to private 

 American operators, to be operated 

 in the interest of America. 



5. — That Congress be petitioned 

 to repeal the excess profits tax, re- 

 duce the excessive surtaxes and in- 

 crease the normal income tax to 

 provide the necessary income. 



(i. — That Congress be petitioned 

 to enter upon a campaign of gov- 

 ernmental economy, eliminate all 

 unnecessary bureaus, commissions 

 and other government agencies 

 which were absorbing the national 

 Income and hampering the business 

 of the nation, and confine their ex- 

 penditures to those administrative 

 activities which are necessary to 

 national welfare. 



7. — That Congress undertake 

 studies designed to result in a 

 proper limitation of the power of 

 the menil)ers of the Federal Reserve 

 Board, in order that its exercise be 

 confined to such use only as may 

 be in the interest of all the people. 

 The introduction to this resolu- 

 tion declared that whereas the Fed- 

 eral Reserve System was designed to meet national financial emergencies, 

 and while this system has demonstrated the wisdom of its creation and 

 should be coutinncd, the great power reposing in the men appointed to its 

 controlling board can be used against the public interest and has been so 

 used in the national deflation of commodity values in order to reduce the 

 high cost of living for labor, as a result of which deflation through credit 

 restrictions has cost the American people in the last ten months in com- 

 modity deflation as much as the nation's entire contribution to the cost 

 of the world war. 



8. — That Congress repeal at the earliest possible momcMt the Adamson 

 railroad labor act, abolish the V. S. Railroad Labor Board and abrogate 

 national agreements, all of which are in operation in opposition to the 

 public interest. This because cheap freight rates and efficient service, 

 upon which the life of the nation's commerce depends, are impossible until 



th<' railroads arc given rcli»-r from the hampering conditions of govern- 

 ment control ami national agreements. 



9. — That the Congress do promptly whatever it is going to do in the way 

 of tariff enactment, in order that business may speedily learn what to 

 expect and know where to put its feet and when to move forward. 



10. — That the railroads, the Interstate Commerce Commission and Con- 

 gress give immeiliate and careful consideration to the advisability and 

 practicability of the suspension for a period of sixty days of the increased 

 rates on lumber granted under Ex Parte 74, In order to promote the move- 

 ment of lumber ; and that If practicable such suspension be immedlatel.v 

 made. 



This resolution was adopted on the information from the National 

 association's traffic expert, Mr. Carnahan, that such suspension had been 

 made by a certain railroad in reganl to another commodity in order to 

 facilitate movement. 



Terms of Sale Code 



11.- 



There Is No Other Mortal 

 World to Jump To. 



Yet it's hard not to have moments of ultra-indigo depres- 

 sion, when we regard the world as a squeezed orange and 

 want to chuck it out the window. 



Mister Gloomy Gus has certainly been having his innings, 

 with his cousin, Mister Lugubrious Blue, pinch-hitting for 

 him. 



For nearly a year business has been on the toboggan. Or- 

 der-taking has replaced salesmanship. Confidence has been 

 taking a vacation. We haven't made peace with Germany. 

 Hell is popping in Ireland. The outgoing Administration 

 has been damned, the incoming questioned. The whole 

 world has gone to pot. 



Has it? It has NOT! 



But what's to be done? 



Tell everybody that trade is rotten? Continue attempting 

 to do business on inflated inventories? Go on cussing Con- 

 gress? Lie awake nights thinking up new alibis? What? 

 Not much! 



Here's the answer: FAITH! 



Faith in yourself; faith in your country and its institu- 

 tions; faith in the eternal rightness of things; faith in your 

 product. The boom days are over — we're down to bed rock, 

 now. Take your inventory loss on falling prices, thank- 

 ing God it's no greater. Realize that there is a new buying 

 public, circumspect and cautious, which must be SOLD — 

 not merely have its order taken. Sit tight! Saw wood! 

 HAVE FAITH! 



And then — it's Spring! Wash the windows. Get a new 

 broom and sweep the steps. Get out in the sunshine. A new 

 deal — a new deck — and — 



She's a bully old world, after all. 

 Roy H. Jones — 



The ftdlowlng Is the complete text of the "^resolution applying to 



terms of sale, which was intro- 



^.^^^^_^^____^.^^^^_ (luced by Edward Hines, through 



.Mr. Keith : 



\Viif;KE-\s, The committees of the 

 National Retail Lumber Dealers' 

 -Association, the National Whole- 

 sale Lumber Dealers' Association 

 and the National Lumber Manufac- 

 turers' Association, have conferred 

 on the question of terms which 

 would be fair and equitable and 

 most to the interest of manufac- 

 turers of lumber and purchasers 

 from them, to the end that such 

 terms niay be recommended for use 

 to the members of the three associa- 

 tions, and 



\VnEUE.4s. The said committees 

 have recommended the following 

 terms to their respective associa- 

 tions : 



Freight net cash. The amount 

 of invoice less freight paid la sub- 

 ject to the following settlements : 



(a) Cash less 2 per cent it paid 

 within five days after arrival of car 

 as shown by date on expense bill. 



(b) Net if closed within five 

 days from arrival of car, by note 

 or trade acceptance, due ninety 

 (lays from date of invoice and bill 

 of lading. 



(c) Invoice not discoimted or 

 closed by acceptance is met and due 

 in 60 days from date of Invoice and 

 subject to sight draft 65 days after 

 ilate of invoice. 



It is agreed: (1) Failure to 

 ship this order within ( ) 



days from date shall give the buyer 

 the option to cancel, but this agree- 

 ment shall not be construed to con- 

 stitute cancellation without request 

 in writing, received by -seller from 

 buyer (five) days prior to ship- 

 ment and order is not subject to 

 cancellation before expiration of 

 the due date, as shown above, nor 

 of special stock in process of manu- 

 facture, without the consent of the 

 seller. (2) That contents of car 

 shall be unloaded upon delivery. 

 (3) That seller shall be notified 

 promptl.v in case of complaint on grade or tally, and contents held for a 

 reasonable time at seller's expense and disposition. {4) That official 

 Inspection according to established grading rules specifled of the species 

 described herein shall govern unless otherwise agreed or adjusted. (5) 

 That hardwood shall be held intact unless otherwise agreed, (b) That 

 buyer may use any part of a shipment (except, see No. 5 herein), and in 

 such case shall pay at invoice price for all that part used. (7) That 

 remainder of shipment shall be held intact for official inspection or - 

 adjustment. -Ml lumber determined to he up to grade shall be paid for 

 according to invoice price ; stock below grade to remain property of seller 

 unless otherwise agreed. (S) In case any otBcial inspection shows 

 material to be not more than 5 per cent off grade, or If tally is not short 

 more than 1 per cent of Invoice quantity, it shall be deemed an acceptable 

 shipment on contract, and all costs of such Inspection shall be paid by 



