Carrizozo outlook. [volume] (Carrizozo, N.M.) 1910-1945, 1919-04-25
BY GEORGE N. REYNOLDS,
President Continental a Commercial
National Bank Of Chicago.

NaNloVdi BhUN of CUlCn1os
BY tradition and training Americans
possess, In marked degree. those
qualities that NJ them for tho larger
relationships that are bound TO grow
out Of the sacrifices and achievements
OF the great var. Our mixture OF citi-
Eenry and ancestry makes II very Vi
tai. In this time OF looking forward to
a grenter America. that we should
study American history, learn to re-
we're American institutions and strive
to discover and attain American
Ideals. These have made us great,
guided u matchless progress In the
past these will lead US into a more
glorious future.
From the experience of the past
four years. first as onlookers and Ia.
ter rs participants, we have gained q
more Intimate knowledge OF the out
J d world, n knowledge that will be OF
inestimable value In our foreign rela-
lions, commercially. financially and
automatically. We have also been get
ting a much clearer understanding OF
our W responsibilities to each other.
Fired by ambition born of equal OPP
portunlty that exists TO n greater de-
gree here than anywhere else, we have
always been an industrious people,
and when we cease TO be industrious
we shall begin to go backwards.
Habits OF industry and thrift arc
the two great essentials to success.
Extravaganza has been one OF u out
standing characteristics and II has
cost us much II has robbed us OF the
renl fruits Of prodlgious production,
for In the seasons Of abundance we
have squandered that which should
have been saved for the hour OF ad-
versity.
War Has Taught Economy.
One OF the lessons taught by the
was was economy. The government
needed all kinds OF supplies, expensive
munitions, and millions OF men who
had to be fed and clothed. 1t was
forced TO build ships on M unprece-
dcnted scale. II did not have the mon
ey with which to do all this. 1t mp
pealed to the people to save their mon
ey and buy Liberty bonds and War
Savings stamps, and millions OF men,
women and children who had never
known the Importance of economy and
of investments became savers ana
bOti buyers.
Patriotism, as well rs self-lnterest,
prompted us to buy bonds while war
was being waged. The patriotic duty
to buy government bonds Is no less
now. for our soldiers must he cared
for until rehabilitation is complete
and they nre again back In their old
plnccs ON farms. In the factories ans
other places OF employment. The
promptings of sclf-interest ure greater
now, because the treaty Of peace Is be-
ing worked out We are gradually re-
turning to n normal basis, and we
know that Liberty bonds VIII sell Mt
or above par within n reasonable
time.
peyelopmcnt and expansion mean
general prosperity and employment for
everybody. hut we cannot continue
oven normal development Of our great
resources and expansion of our busl'
ness, as we Nlpulu, Milh'ht nov N"lA
tai. and new capital Tor these pur'
noses must come from the savings of
The peoplc. Therefore we are all VI
tnlly interested In the practice OF
economy now, although the war Is
over.
our Financial Resources.
We hold $1,000. OOO.OOO Of gold In
this country. which is one.thlrd OF the
worlds supply. our government has
ionned the allied governments over
SS.bOO.OOO 5000. and they have market,
ed here. privately, another $4,000 O0,.
600 Of securities. Since August. 1914,
we have bought back several billion
dollars worth of American securities
thnt were then owned abroad. Durinl
the wnr our excess Of exp ,rts over i'm,
ports have totnled about Sl1 ,O00,OOe,
The estimated national wealth Of the
United States Is S25O.OOO 100000, OF
within $1,000. 900 900 ~ the combined
nationnl wealth OF Great Brltnln
Frnnce, Germany aud Austrla-ilun.
curry. Their estimates were made be
fore the outbreak Of the war. Sine,
then they have lost In resources, while
we have gained, SO that IN estimate
/, today would probably show thu, ouI
wealth equals or exceeds the four no