The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1920-12-04

AFTER years Oh cnaos, We VIII h1so -
legislative and executive branches OF
Government in accord. Progress Is
assured. Constructive legislation will
follow as a reasonable economy In
the administration of Government af-
fairs, and the disbandment Of the nu-
merous War Bureaus with their
hordes Of clerks and petty officials.
The Wilson McAdoo tendency toward
Government ownership and Govern
ment interference with business also
goes into the scrap-heap, we hope
forever.
The Ubiquitous ex~cess-profits tax.
with its destructive effect UPON initia-
tive and enterprise. will certainly go,
and in its stead will be substituted
some form Of general sales-tax that
will enable the Government to meet
its obligations without destroying the
source from which taxes flow. And
then, Mr.. Burieson will no longer be
Postmaster General. But enough Of
this panegyric.
Normally" is in sight. The world
is at last getting down to business.
Goods must be manufactured and
then sold. The old machinery for
selling is being brought out Of cold
storage, brushed up, cleaned, and
manicured ready for the fray. Ex-
pense accounts are again subject to
scrutiny, and the dollar is not being
thrown to the birds as a thing Of no
consequence. Caution, study, and
careful examination is once more be-
ing devoted to betterments. The
leaders of industry have not been
idle during the last year, and much
quiet unostentatious preparation has
been under way toward the ~perfecting
OF sales organizations, methods of
distribution, and the other machinery
for selling, in order that the CONNER
cial machine might be ready and able
to function when the time came. I'm
DERIVING the surface, down-in-the-
dumps condition of the stock and Sc
curity market is the real, solid, sub
stratum of common sense that dis
Germs in present conditions a neces-
sary and beneficial purging of the
whole business structure, whereby
the artificial unhealthy extravaganza
of war p~roiteering has been brought
to a head, lanced, and finally cured.
During a trip through Eastern and
Middle-Western centres, / did not
succeed in isolating one single pessi-
mist. Even those hardest hit. the
automobile crowd, for instance, re-
garded the drastic remedy o being
applied as a good thing In the long
run, and the real leaders of that in
dustry are satisfied with the survival
of-the-fttest test that is now being
applied with ruthless vigor. Money is
tight, not scarce. and hard to get even
at 80 for preferred short-time COM
mercial loans. The cold blue eye
and icy stare of the banker is the por-
ton of those who ask for help for
any doubtful enterprise. The custo-
dams Of the peoples money are sit
ting tight. waiting to see the inexor-
able sorting process weed out the
lame, the halt, and the blind. and
even the best Of the Industrial lead
ers ire paying fancy prices for money.
What a chance for the investor!
The late j. Pierpont Morgan once
said that any lar who was a bear on
the United States would go broke. In
vestment bankers are issuing charts
showing the market tendency Of mu-
nicipal, railroad. and industrial Sc
curities and their relative return for
the last five or six years. Seven and
even eight per cent for first-class Sc
curities is the rule at present prices.
With most of US. the situation is one
to make us lick our chops hungrily.
and think of the story Of the men.
who, when riding by a great factory
remarked. 81 could have bought that
site for $4,000 ten years ago. and now
1t is worth a million" His hearer
asked, did you have the five thous-
and at the timer" The man did not
reply.
Observation-Disclosures will be a most
interesting year. The whole indus
rial fabric of the Nation will throw
off its wartimes shackles and go to
work, with the intelligent help, let
US hope, of the Washington govern
ment. The conservation policy that
let's u natural go to waste
will be packed away in moth balls to-
gether with its proponents. and we