Am.  Jour.  Pharm.  \ 
March,  1918.  s 
Editorial. 
157 
The  true  alumnus  always  sustains  his  alma  mater  and  takes 
pride  in  her  achievements.  He  appreciates  that  he  has  inherited  a 
share  in  her  work  and  glory  and,  likewise,  that  he  has  a  share  of  the 
responsibility  for  her  future  success.  There  is  no  better  way  for 
him  to  discharge  his  responsibility,  to  repay  his  moral  indebtedness 
or  to  demonstrate  his  gratitude  than  to  take  an  active  interest  in  her 
welfare,  to  conscientiously  assist  in  her  problems  and  to  contribute 
to  her  needs.  The  tributes  of  service  and  of  financial  aid  can,  at 
least,  be  a  part  payment  of  the  debt  that  a  loyal  alumnus  appreciates 
is  due  to  his  alma  mater. 
G.  M.  B. 
PRICE  MAINTENANCE. 
The  time-honored  adage  that  "  competition  is  the  life  of  trade  " 
has  been  so  indented  by  questionable  trade  practices  that  its  lines 
must  soon  be  corrected  by  some  qualifying  term  that  will  restrict  as 
beneficial  only  such  methods  of  competition  as  are  fair  to  the  con- 
sumer and  salutary  to  trade.  It  is  rapidly  becoming  more  and  more 
in  evidence  that  tradesmen  and  the  various  trade  interests  are 
awakening  to  the  fact  that  unrestricted  price-cutting  is  a  great  eco- 
nomic evil  that  has  sapped  the  strength  and  life  of  many  legitimate 
and  deserving  enterprises. 
The  drug  trade,  especially,  has  been  the  goat  of  price-cutting. 
The  popular  proprietary  medicines  and  toilet  articles,  constituting 
an  important  part  of  the  druggist's  stock,  have  been  the  favorite 
"  eye  catchers  "  in  the  advertisements  of  the  department  stores  and 
the  "  cut  rate  "  shops.  The  practice  of  advertising  commonly  well- 
known  goods  as  "  catch  pennies  "  for  the  purpose  of  profiteering  in 
other  lines  is  too  well  known  to  need  any  comment.  . 
As  a  rule,  price-cutting  and  cut-rate  advertising  can  be  success- 
ful only  where  the  capital  of  the  advertiser  and  the  volume  of  his 
business  permits  of  an  equalization  of  the  total  profits  to  the  general 
average  that  is  essential  to  the  safe  conduct  of  the  business.  How 
many  of  the  smaller  merchants,  especially  druggists,  have  followed 
this  ignis-fatuus  to  bankruptcy  when  the  same  amount  of  energy 
expended  along  established  ethical  methods  would  have  gained  the 
confidence  of  the  public  and  meant  success !  The  demoralizing 
effect  of  such  failures  on  all  business  makes  it  a  public  question  of 
some  moment.    Moreover,  where  is  the  supposed  advantage  to  the 
