The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-05-09
THE BUSINESS OUTLOOK.

No more optimistic outlook on the
business situation has appeared re-
Gently than that issued by the Ma
tional City bank of New York under
date of May 1.
The business situation in the United
States has improved very much in the
last month, says this bulletin, and the
outlook is encouraging. 1t is a very
great gain to have dissipated the at
mosphere of pessimism which was
prevalent in February. and that has
been accomplished in large degree.
The idea that the bottom was about
to drop out of all markets, and that
grave period of unemployment and
perhaps social disorder was pending.
is no longer entertained. The people,
north and south, east and wet. have
disposed of that boyle by simply con-
tinuing to buy goods at the greatest
rate ever known, evidently without
apprehensions of poverty or revolu
ton. This is taken to indicate that
the great body of the American peo-
pie are disposed to go along in a nor
NAL way, whatever tie rest of the
world may do. and as their buying "a
pacity is about equal to that of all the
rest of the world put together, they
can do fairly well all by themselves if
they try.
With strikes, revolutions, allied dis
sensions and all sorts of exciting news
served up in the papers daily, they
have been busy welcoming home the
boys from France, and incidentally
and perhaps for that reason, the wo-
men have bought all of last years
high-priced dry goods remaining in
the stores, and thereby put the mer-
chants at ease. The old stocks of tex
tile goods have been cleared out, and
current demands now require current
production. The whole situation in
the textile industry has changed. Con-
fidence has been restored, prices have
recovered part of the midwinter de-
cline. and the mills are resuming full
time operations. The strikes have
been generally settled, but in some in
stances the demands of wage-earners
have been held in allegiance pending
recovery in the industry. and there are
reports that they will be renewed.
Trade in all lines which reflect COM
mon consumption is excellent. contin-
ues the bulletin, the only light bust
ness being in the lines related to con-
struction and investment. A symptom
of free buying for family consump-
! ton is to be seen in silverware. Last
year the production was 40 per cent
below normal, but manufacturers are
now busy on the greatest volume of
orders they have ever known. The
| jewelry trade in all grades is booming
from the cheap goods to diamonds.
Sales of diamonds are the largest ever
known and at high prices. In rings
and articles for the common trade
business is immense. 1t looks as tho
the return of the soldiers might be a
factor here also. The June crop of
weddings will be the biggest crop of
the year, notwithstanding the govern
ment's guaranty on wheat.
There is some unemployment in the
large cities. particularly in the vicin-
ity of rehabilitation camps, but the
authorities are over their worry on
this subject. AS a rule the returning
soldiers have found their old places
ready for them, and the substitutes
including many thousands of women
are finding employment also. What
trouble there is over employment is in
suiting the individual applicant and
the employer. There is a cry for farm
labor and household help from nearly
every part of the country, and there is
naturally more of a disposition among
- ~ Of isfa to-
labor than was the case when the la
Dor shortage was acute. The indif-
ferent and incompetent worker, whom
nobody wants to keep. and who has
lost the habit of steady work if he
ever had it, is afloat again.
The situation is summed up as fol-
| lows:
There is a gratifying recovery of
sentiment in trade circles, brought
about by the sustained consumption
of goods and the widespread prosper
| ity enjoyed by the agricultural class.
There is no gainsaying that the latter
is the backbone of the business situa-
ton, and will be for the year to come.
| The farmers are the largest single
group in the population, and their
| prosperity reacts directly upon all the
| towns and cities where the agricul-
| turaI interests is dominant, and ex-
| tends beyond that to the manufactur-
| ing districts. The farm implement
business is busy, and the textile indus
| tries feel the same stimulus. The au-
/ tomobile manufacturers are looking to
the same quarter for much of their
business"
| "In the destined hour" wrote Leo
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