The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1908-04-22
J. OGDEN ARMOUR
EXPRESSES VIEWS
AS TO BUSINESS

Chicago. April 21.-Optimism is
the prevailing note among the big
business men of Chicago-the men
who have their fingers on the COM
mercial and financial pulse of the
West and of the entire country, and
who are experts in reading Alright its
faintest Indications says Walter
Wellman in the Chicago Record
Herald "They believe the
corner has been tured; that the
worst effects of last falls panic have
passed away; that the restoration of
normal business conditions is now
going on; that this process of recov-
cry is proceeding along sound and
wholesome lines. giving every sign
of being permanent, and that the
country as whole is essentially pros
porous.
1--WE are now decidedly optimistic
in this house." said J. Ogden Armour
when | asked him for an expression
Ition and outlook. Things are now
mending. Every thing that happens
from now on is likely to help the
recovery and tend TO bring better
times. Up to now it may be true
that a good deal of the ground gained
us sentimental rather than actual;
but this sentimental gain always ac-
companies or Immediately precedes
actual recovery. We note on all
sides a gradual, not rapid recovery.
'Probably. IL is better that the restora-
tion of normal conditions does not
come too fast; IL is the more likely
ito continue without interruption or
relapse.
at is not only here in Chicago and
the West that we feel this change -
continued Mr.. Armour. Down in
New York recently ! found everyone
there feeling the same way, much
more hopeful and confident than they
were during my earlier visit. After
all is said, We must still regard New
York as the financial center. The
trouble started there, and if there Is
a sure recovery its effects must DE
first noted there. On the purely
banking and financial side every
thing is again all right in New York.
On the industrial and commercial
and railroad side the improvement is
spoken of by everyone, and the pre-
vaillng feeling is one of confidence
and strength.
I'VE are now on the upgrade.
Not for many years have we had such
ia good outlool1 for the wheat crop.
IL / remember Alright the govern
ment figures they are 81 per cent
for this year. against an average of
IS per cent at the same dates during
the last ten years. 1t is automatic
that the wheat crop is basic in its
effects upon the prosperity of the
country. Not only are we promised
Ia large crop--probably the greatest
ever harvested-but prices of grains
are high. due to world conditions.
and likely to remain high. AS long
as the farmer is prosperous the coun-
try cannot suffer any long continu-
ance of hard or dull times. The
farmer is prosperous and his pur-
chasing power is not likely TO suffer
any diminution during the coming
lyear.
Last falls panic was unlike any
Iother panic that | have ever heard
OF In this country. Other panics
have started in the interior. with the
industries or business or banks, and
spread to the financial centers. Last
years panic was not in its inception
la commercial or industrial -sanic at
lall. 1t was purely a banking and fl
nancial. collapse starting I'm New
York. II was truly a rich mans
panic. Notwithstanding all the
harm worked by II, the manner in
which the country has endured II
and the alacrity with which recovery
sets in on a sound and wholesome
basis shows that the country is in
herently as prosperous as it ever
was.
Decidedly the most impostant
question before the American people
Is how TO prevent such banking
and currency collapses in the future.
M.