(_July 11, 1917_)
My Fellow-countrymen,--The Government is about to attempt to
determine the prices at which it will ask you henceforth to furnish
various supplies which are necessary for the prosecution of the war,
and various materials which will be needed in the industries by which
the war must be sustained.
We shall, of course, try to determine them justly and to the best
advantage of the nation as a whole. But justice is easier to speak of
than to arrive at, and there are some considerations which I hope we
shall keep steadily in mind while this particular problem of justice
is being worked out.
I therefore take the liberty of stating very candidly my own view of
the situation and of the principles which should guide both the
Government and the mine-owners and manufacturers of the country in
this difficult matter.