Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-03-14

PROSPERITY COMES
Richard SpiIIane, Financial
Authority, Declares No De-
preston Possible in Unit
ed States
BY RICHARD sPILLANE

(Leading American Authority on
Business and Finance, and Special
Economic Contributor to the
Semi Weekly Journal.)
The tide has turned.
Dismiss all notions that this
country is going to have depres-
sion, unemployment, hard times.
A period Of great activity is
near. The problem soon will be
to find men for jobs rather than
Jobs for men.
No one capable of reading the
barometer of business can mis-
take the signs.
Here they are:
1. In the months of January
and February the building and
engineering contracts signed in
that portion of America east of
the Missouri river and north of
the Ohio exceeded in amount those
of the corresponding months for
the last ten years, except 1917 and
1918, when we spent extraordi-
nary sums OF munition plants and
war structures. They are nearly
As per cent greater than the Jan
uary-February average for the Z
years 1900-1906 - inclusive
What is more significant is that,
while January of this year show
ed we'll, the swell did not begin to
show fully until February. March
s gives promise of still greater in
& crease.
2. Commodity prices continue
to decline.
8. Trade reports show a pro
nounced demand for overalls and
workingmen's shirts.
4. Wall street, which always is
able to forecast prosperity or de.
preston, has given evidence
through the stock market of a
pronounced revival.
fherg.fs not an even dfstribu-
ton of the contracts. In Ohio
western Pennsylvania and West
Virginia they are below par.
In Illinois, Iowa, Indiana, Wis
8 consin, Michigan, Missouri and
eastern Kansas they are bigger
than ever recorded in correspond
3 ing months.
In New England they are be-
low the average.
IL New York they are fair.
In Philadelphia, Baltimore and
\ Washington they are nearly twice
the normal amount.
The northwest has not begun to
feel the impulse.
The president of great uni
u versity estimates that this coun'
try is 5,000,00O,000 behind re-
s quirements in building and en-
cheering operations. His esti
mate may be high, but there IS nc
doubt we are in need of more con-
structior than ever before in Oul
history.
Now that a beginning has beer
s. made the sentimental and mate
rial effect will spread through ev'
cry branch Of industry.
= Railroads and trolley lines are
in urgent reed OF 100000 tons
& of steel this year. Their financia
condition has been improved
q greatly by the mildness of the
y winter. Hundreds of trolley com
y panies that faced bankruptcy {
! few months ago now see daylight
ahead. Snow costs the railroads
i and trolley companies many mil
lions of dollars ordinarily. The
comparative lack of snow and ice
not only saved them from ire
mendous expenditures this win
ter but traffic was unprecentedly
8 large owing to the good weather.
General trade is reported fal
better than merchants expected
A banner winter wheat crop is
predicted and never, in fit!
years, were food animals. in sucf
good condition after winter.
All this does not mean that &C
tive, prosperous times are coming
with a rush. There are man!
works of readjustment to be com
pleted. The dislocation of labor
still presents some difficulties
Prices of goods, wages of men ane
other questions remain to be set
tied in many lines of industry.
But the turn has come. The
tide no longer GIBBS. It has begu1
s to rise. That is as certain a.
anything can be from the evidence
before us.
Americas recovery from "tht
shock of peace" has been marvel
ously rapid. Few students o
s world affairs expected definite
signs of it before May / Now the
proof is here, more than a month
u ahead of the most optimistic ex
pectations.
The man who said always Be-
a Bull on America" was a pro
pnet Incompatible.
America never had more Worl
TO do than it must do in thu
period now dawning. 1t mus
feed, clothe, furnish and finance
a goodIy portion of the world. l
: does thiG honestly and well i
will win for itself world trad
will make its prosperity greater
and more enduring and of more
benefit to mankind than that o
any ration in all the march o.
time.
s54, 2e3, DIG IN 1918
According to the annual report o
the American Telephone and Tele