New-York tribune., 1919-08-26
Business Men See
Thirty Months of
Prosperity Ahead
Nationwide Survey Shows
Confidence i'm Trade Out
look; Dissatisfaction With
Federal Rail Operation

belief, according to report issued by
Harris, Winthrop & Co., stock brokers,
rests on the fact credit is abundant,
savings bank deposits are increasing,
crops above normal will be sold readily
at present prices and business gener-
mism. The brokerage concern COM
piled its report from the replies re-
ceived to a Questionnaire which it sent
out containing thirty queries relative
to the facts of the commercial situa-
ton, the feeling of business men and
the public generally toward the eco
nomic questions confronting the peo-
pie of the United States, and the policy
that should be followed by the govern
ment in regard to taxation.
Nature of QUESTIONABLE
The inquiries related to the supply
of money, growth of saving bank de-
posits, the abundance or insuficiency
of labor, the tenacity with which Lib
and the prevalence Of social and in
dustrial unrest. The questionnare
also included some pertinent queries
regarding the league of nations, the
relative popularity of the Presidential
plan and the Senatorial policy. the eff
feet of imitation, the probable duration
OF our present prosperity. operation of
the railroads by the government, re-
construction loans to Europe and the
lied and sinister opposition to the eX-
tension of our foreign trade.
In answer to a question relating to
the existence of Bolshevism in this
country, 921 replies were in the affirm
ative, while 729 denied such influences
as operating in their respective dis
tricts. The greatest preponderance Of
belief as to the existence of Bolshev-
ism came from the Southern states,
while those of the Middle West and
Missouri River Valley appeared to be
less free from its Influences
The supply of bank credit was said
by 1.736 men, with only fifty-fvc voic-
ing the opposite opinion. Prosperity
of bulness wa reported b y1,7O1 and
disputed by forty-two.
Against the optimistic reports there
IS noted only a general deficiency Of
labor, an unwillingness to accept a
further advance in freight rates and
the general prevalence of speculation
that is always incident to prosperity,
with the higher prices that are its
consequence.
at is evident" says Harris, Win
throp & Co., chat, generally speak
may be regarded as a counsel of
optimism.
at is evident that credit, the life
blood OF business. is in abundant sup
ply throughout the country, that say
ings banks deposits are increasing
despite the high cost of living and the
alleged insufTiciency of wages, that
business is prosperous almost every
where, that merchants stocks of goods
are not abnormally large that crops
are, upon the whole above the average
that they will be readily sold at pre-
sent prices. that the Liberty bonds
bought by the people are being gener-
ally held except where the smaller in
vestors have found it necessary to sell
them. and that in at least two cases
GU. of three the returning soldiers are
going cheerfully to work as employ
lnent is offered them.
Views on League Differ
"By very large majority the people
seem to be in favor of a league Of
nations, but they are about evenly div
ided as to whether it shall be the Presi-
dents or the Senate's league
But few seem to feel that the crea-
tion Of such league would affect their
business unfavorably, and there appears
to be no general consciousness Of any
sinister foreign influence that is op-
posed to American business abroad.
Opinion appears to be evenly divided
as to the permanencc or impcrmar-
ence of the present prosperity and the
high prices and wages that are incident
to it, and out of l,6S7 who have
answered the question there are ,624
who believe that it will be an average
Of at least two and half years before
we will get any serious reaction. Pub
lie dissatisfaction with government ad-
ministration of the railways appears
to be nearly unanimous, although the
report that living rates and fair treat
ment for the carriers would not be gem
orally opposed seems somewhat incon-
sistent with the answers which in
dicate that in a large ajority of cases
an advance in rates would be resented.
"By a two-thirds majority ou~ in
formants report that public opinion is
in favor of reconstruction credits for
Europe.
"As to taxation, the answers are
both informing and surprising Most
of our correspondents belong to what
is sometimes described as the 'capi-
talistic class 1t is therefore surpris-
ing that by large ma aiority they favor
the American policy of imposing what
is an almost confscatory tax on
large incomes, in preference to the
English method. The vote is, however
almost exactly reversed upon the oues-
tion of direct taxation. as opposed to
indirect taxation, a majority of nearly
two-thlrds being in favor of the latter
The preponderant majority in favor of
high protective tariff is, We confess
a surprise to us, in view of the fact
that many leading economists insist
that it is now necessary for us to i'm
port largely if we are to maintain ou1
exports, and we can only explain it
upon the theory that the people of this
country still correlate periods of pros
perity with high tariff. and that they
do not as yet appreciate that we
have ceased 70 be the worlds debtors
and have become creditor nation OF
the first magnitude, with balances due
lis that we can only collect in goods"
statesmen Want Vote and
More Time for Luncheon
Statesmen connected with concerns
manufacturing or iobbing women's an.