The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-02-13

ns@a vERyDoDY Is interested u
the subject 81 she causrS q,
~ Industrial depression nn
s leaders 9, pallics iava az
fcred widely.
The following lTjeie from shs va
Street Journal sill ae read wa
tcrcst BY students ps iadust ~ sh
denotes and economic clmnros.
No one who has stadct TIE hs'os
Of industrial depgessions cue aas
failed 70 take note Of the lstlmne
lation to thcm preceding period Z
real estate speculation The stosl
change has bcen popnlarly hr,t ~
spousible for the occurring qeri.da
panics, bat a closes oxamis a'i1n
the facts pointa 10 the e4nc' aol IA +,
a is oscr-spe5ulat.on ~ laa8 raihc
than oyer.speculttior IN stccks ~
Is oites Che naiz eaaso on '2e
durbunce.
Nowhere elsS are tho fae'g :.
more clearly than in Henry lcAgo
celebrated book o. "progscs. al,
Poverty" This work wgs Yrit.aN
course, IN So forth George t,.e-
of The single tax. ';u. Il Is TO. DC
essary 20 adop the lioary jeo,gs e
Try in order 20 recognize .le isu.h 81
his statement ~ egard ihe Gam
os industrisl depre cl4 aecge
clare3 that there we're ~ augss otl
approximate causss tasn lald eps
nlution. We aeation vone 10 acs
-uea az the 9 owing completely N
NE maehlneg rroarc ia she
makes eaeh shoee lu Sate
through wldehlhs citc'e, ahe eias
ial aeiert y eurrencts which
tract wheu most Heelsa, eng ,he lC.
mendoua 'iaMius " a'snc ra
occue u GonmeFe.o caal lai is
iaialaiued ih de rsa
saus industrial espessiga
hc sremlatiy adYance II Jams t1u a
ie Says that oae se ~ 81 et
ais' claim 'hat 4aora S a
w arprodcsiion br oif S.
warehouse ale Hiii ac tha
annnt Sc ola az enaaeraies
price tuothcr chcoi "a. ha as
Oppression Ass Dce CAUSED bg over
consumption; ia c.her oray, W as
'att that peoolo, made iragagias
by aetiiioua prosreyiil, cave W.
beyond thei, means. pnd rrs obiset
to retrench .ha. Is, 20 coasnme &c
wealth. Nh Gaarg, aga hal ea Z
ol these theories expresses one pha
ui y general t'aia, bus eosh % thsm
fails t9 comprehend tae ul. fuiA.
This trouble, IN his opinion, rs W..
production AMI e8usumpiia0 euaa
meet and siisfy each Other, ANA NJ
tAis i. the Fesu'i ~ speculation lI'
ezpresal8 declares aowe.ea hal +.
ao, Fac result q apeeulatoa a'
thinga which aFe Che products ot
nor, namely agriculture. nan
tacured goods ata the7e,or &
stOcts thai represent iheml, ior h
e7ect d tgccalatio d such th, g
iynply 10 eQualle supply ma da
nsnd On iha C.he Aun ia ft
aeult ol speculation in hinga e
the production Of labog, but fas1
aTy Do the erefliou d Dor I'd W.
production ol Weaith It mnat :
speculation oe things o aysd en
atty, therefore, speculation ln Fa
"in zach period az indts riai acGt
iiy,' he deolsfes. ".ant ahc hos
steadily risen, euminati in .aa
'atio1 which Frigd ihgm up n grgf
Jumps This has beon lnvafiablg sm
loved w partial essaiion so
( duciIon, and lts eaHelatiga. 1ef
ion Of effective demand aaaeF IS
ompanied by omme sial efaaa
and then Mas succeeded q 9erlq s.
aompuratiya stagnotlon, during a'.
she eguilibriua aae hea agal .og
~ established"
L oula Haea aa a ord
( nighs well Ne studied % Jew IN tas
ain TENDENCIES Of the Tins. ehereaa.
-eea for ome hng fas 70 sea
over-speculation in tac stot market
ut there have leea In progress ~
ihines which might mike Or va
asial depression mlesa che ked 4
hus- Jaa % shere ( he peeuatioi
y ena gpoa Nais lieaf leofe