The Hartford republican. (Hartford, Ky.) 18??-1926, 1908-08-07
BETTER Times
Than EVER.
Is the Forecast of Close Stu
dent of Industry.
Best of Conditions Near at Hand
And Real Prosperity Will
Soon be Here.

Prosperity better and saner than the
United Safes has ever known before is
foreseen for the mex. decade by Prof.
Henry c. Adams Tor 20 years in charge
of stajis,crs and accounts for rAe In
,erstate Commerce Commission.
Prof. Adams is recognized as one OF
the closest students OF industrial and
financial conditions in The service of
the Government. His intimate assoc
citation with The railroads and their
operation has given him an insight in
10 conditions unequaled.
The Commissions sta.istcian mas
reached the conclusion that business
in all lines will re urn rapidly % nor
NAL. and normal conditions are 20 be
succeeded quickly by extraordinary
prosperity in every department of in
dustrial activity.
Both capital and labor in mis- opinion
are on the dawn of a newday. Prof.
Adams declared that the holder of
socks is about 20 come INFO his own.
He regards the depression that followed
the panic of last October as a bles-
sing in disguise, in that il will insure
economy by preventing the return of
reckless confidence that was engend-
cred by too much and too long con,in-
ued good times.
We are now almost through the de
preston 10 which | referred" he said
to-day, 1T was preceded by a period
of intense business activity. lnevita-
bly, during such period men lose
more or less of their caution. Every
thing seems prosperous and the future
promising and there is less care TAX
en- 10 watch details of management and
expenditure. So when the depression
comes and revenues fall away the
managers east about for means TO re-
duce expenses. They have been find
ing out for The largest part of year
past where 10 make economies where
htey We're PRINTING part of their mon
~ 20 so into avoidable expense. They
have been ,aking in he. slack getting
things on he safe and secure basis.
t. has been severe experience bu-
from The standpoint Of the sharehold-
"r has been really a good hing.
"1he dcprcss, Oh will enl and businc.
will be good again. Is volume in th
ifeX. cycle will be greater lhan ever,
Bu; the lesson of Jhis period of EN-
forced oconmes will moi be soon I'M
learned. The increasing revenues will
be paralleled off agains, columns SHOW
ing reduced expenditure in many ways
There will be greater care and econ
omy with the result nat the stOckhoi-
der will nave bear snare coming 20
him"
Professor Adams is a firm believer
in the periodical recurrence of panics
which he believes come with almost
clock work. regularity every 20 years
with smaller financial Expressions in
1873 and 1893 as the proof OF his the
Dry ard he has marked a danger sig
nal overr ever against the year 1913.
The fury of last fall he puts down
as merely one of the disturbances tthat
fill in between the rreal upheavals.
1t is acknowledged by Prof Adams
that the closer connections established
between business and tranporJa-
ton concern will render fu-
ture panics less disastrous THAI
in the past. The strong will
uphold the weak when crises
arrive. This will not be an indication
of the arrival Of the millennium BIZ
merely as an exhibition of econom.
wisdom for it will tend to restore con-
fidence. And when confidence walk
abroad panics take 10 cover.