Arizona sentinel and Yuma weekly examiner., 1913-10-09
PROF. MITCHELL NOW
 SUGGESTS SOME CURES
Continued from page 1

in the immediate future than they
 have done in the recent past"
 He holds it possible that public de-
 mand will increase for regulation of
 all the financial operations concerned
 with the granting of loans, though the difficulties of effective action in
 such matters are evident. However,
 he emphasizes the value of publicity for business data and the need that
 reliable information be available to- the public concerning profits. credits,
 may be taken when prosperity is seen to be breeding a crisis" He comments the usefulness of much professional business forecast ing that is now being done, and says,
 that particularly valuable would be better public information concerning construction work done or contracted
 for, changes in interest rates upon long-terms loans, statistics of unem- ployment, and statistics showing the
 relative fluctuation, he urges. The
 growth of public control over corpor-
 ate activity is constantly increasing
 the governments power to aid the public with such information, but it
 should be issued before it's value has
 become chiefly historical.
 "So long as the process of making
 and distributing useful goods," says
 Professor Mitchell, is subordinated to
 the process of making money, the
 communitys interest in steadying the
 pace of economic activity can be pro-
 noted by giving all business men
 alike the best possible opportunities
 for knowing the present and forecast
 ing the future. " To steady the busi-
 ness cycles is exceedingly to be de-
 sired by the community, for business depression means physical priva-
 tions, anxieties, and humiliations' for ced upon the wageearner by inability
 to find work, and these are prolific sources of further -intemper- ance, prostitution, chronic idleness,
 the desertion of families, and the stunting of children" Profits shrink in larger proportion than wages, and all classes "pay heavy price in un- certainty and in sympathetic partici- patton in the sufferings of others"
 Professor Mitchell's conclusions as to the causes of the alternations of periods of prosperity and of depres- sion are drawn from tables and charts of his own preparation in which, with great labor, he has assembled inval- uable data regarding business history since 1890 in the United States, Eng land, France and Germany. He il- luminates the facts concerning fluc- tuations in wholesale and retail prices for food, relative cost of raw and man. ufactured articles, and of mineral, for est, animal, and farm products; rela- tive prices of wages and commodities; variations in the values of standard bonds and stocks, fluctuations, in in- terest. rates on short and longtime loans, seasonal variations in interest, Q bankruptcy data, relative prices of securities and commodities, railway earnings production of coal and iron, wheat and gold; bank clearings; i'm ports and exports, employment and variations in the mon- etary stock of gold in the United which had tripled in the past twenty years; bank deposits, loans, and reserves, and the nature of bank resources and liabilities; the ratio of pond sales to stock sales, and new stock and bond flotations. These 1ata show economic history during a period of twenty years when the pop llation of the United States leaped forward by fifty per cent, that of Germany increased by a third, Eng and by fourth, and France by one iftieth.
 Professor MitcheIl's tables and charts are vivid pictures of these rast movements in population, finan- e industry, and human achievement. lis conclusions will be widely dis ussed. His assembled facts will be ich material comment and interpre- atiOn by all who seek to understand or themselves the shifting currents f human society.