New-York tribune., 1908-04-06
OPTIMISTIC OUTLOOK
Prosperity ReuiuaI Predicted by
President Finley of Southern r.. r.
IFrom The Tribune Bureau.


washington, Arril 5-w. W. Finley, president of
the Southern Railway Company, who has been
looking carefully into commercial and industrial
conditions in the Southern States. asked to-
dav for a summary of the result of his Inquiries.
while business conditions in the Southern States
are not as favorable as we would like 20 have
them" said Mr.. Finley, 81 think the situation ia
that region is fully favorable 10 early
vival Of prosperity as that in any other part of
The country. Throughout the South the banking
institutions in sound condition, and, although
their managers are generally pursuing careful and
conservative policies. sound business enterprises
are generally able TO obtain all of the credit need
cd From most localities come reports that South
ern farmers are in prosperous condition and have
substantial bank accounts In the United States
as whole, and especially in the Southern section,
agriculture is the predominant industry. Last
wears crops were sold at remunerative prices.
Largely a result Of the purchasing power OF
The farmers. retail trade in most Southern COM
rnunites is fairly active. In those localities 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 re-
suit of the Industrial depression AS in all other
regions there is "A tendency the part of retail
dealers in all lines to buy conservatively and re-
duce their stocks or goods This necessarily has
The effect of curtang the business OF jobbers
who in turn are conservative in their purchases
from manufacturers, and this tends to accentuate
the industrial depression.
That the depression should have been so wide
spread and serious is due ] think, not so much
- fundamentally unfavorable economic conditions
TO the general uncertainty to the future
which has prevailed and to the consequent ten
dsncy the Part of the American people gen.
orally 10 economic in their expenditures. The
cumulative effects OF all these individual econo-
mics. passed on through retailers and jobbers,
have fallen with full force upon the manufactur-
'nC and transportation interests of the country.
which are consequently feeling the depression mucn
more acutely than other interests
The question OF how a revival may he
expected to begin is which man can an
sNer with certainty. for the that some of
depression are psychological. This being true. one
o. the most important results 10 be brought about
is the creation OF a constructive sentiment based
on faith in ourselves and in the future. The few
weak spots IN banking system have been
eliminated; the ratuTal resources country
have not been diminished and the industry an6
enterprise OF the American people great as
ever before. Under these circumstances. before,
a. a result of tie prolongation of existing condi-
ticus economic complications arise, il is the duty
Of each one OF TO look to the future, rather
than the past and TO contribute, to the best
of his ability, 10 the bringing about of such a
sound constructive sentiment will substantially
aid in return TO prosperity