Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1908-04-15
MIR. FINLEY ON SITUATION.
Thinks Indications Point to q Favor
able Adjustment of Conditions.

Washington, April 13.-President
W. w. Finley, of the Southern Rail-
way Company, who has been looking
carefully into commercial and indus
trial conditions I'm the Southern
States, was asked far summary of
the result Of his inquiry. He said:
while business conditions In the
Southern States are not as favorable
as we would like to, have them" said
Mr.. Finley, 81 think the situation in
that section Is fully as favorable to
an early revival of prosperity as that
In any other part of the country.
Throughout the South, the banking
institutions are In sound condition.
and, although their managers are
generally pursuing careful and con-
servative policies, sound business en-
terprises are generally able to obtain
all of the credit needed. From most
localities come reports that Southern
farmers are In a prosperous condi-
tion, and have substantial bank ac-
counts. In the United States as a
whole, and especially In the South
ern section, agriculture is the pre-
dominant industry Last years
crops were sold at remunerative
prices. Largely as result of the
purchasing power of the farmers, re-
tail trade in most Southern commu-
mites Is fairly active. In those To-
calities where cotton mill employees
and other industrial workers are
most numerous, there has, Of course,
been more or less falling off in retail
business as result Of the industrial
depression. AS in all other sections,
there is tendency on the part Of re-
tail dealers in all lines to buy very
consel VatiVely and reduce their
stocks Of goods. This necessarily has
the effect of curtailing the business
OF jobbers, who in turn are conser-
vative in their purchases from man
ufacturers, and this, in turn, tends to
accentuate the Industrial depression.
That the depression should have
been so widespread and serious is
due, l think, not so much to funda-
mentally unfavorable economic con-
ditions as to the general uncertainty
as to the future which has prevailed
and to the consequent tendency on
the part of the American people gen.
orally to economize in their eXpendi-
lures. The cumulative effects Of all
these individual economics, passed on
through retailers and jobbers, have
fallen With full force upon the man.
ufacturing and transportation inter-
eStS or the country, which are, con-
sequently, feeling the depression
much more acutely than other inter.
estS.
THE question of how sooa a revi.
val may be expected to begin is one
which no man can answer with GER
tainty, for the reason that some of
the reasons for the continuance of
the business depression are psyche
logical. This being true, one of the
most important results to be brought
about Is the creation of construct
I've sentiment based on faith in our
selves and in the future. The few
weak spots in our banking system
have been eliminated; the natural re-
sources Of our country have not been
diminished, and the industry and en-
terprise of the American people are
as great as ever before. Under these
circumstances, therefore, as a result
of the prolongation Of existing condi-
tions. economic complications arise,
1t is the duty of each one OF us to
look to the future rather than to the
past, and to contribute, to the best
OF his ability, to the bringing about
of such a sound constructive senti-
ment as will substantially aid in a
return to prosperity"