The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1920-10-07

or and manual labor will never again
be as great as it has been.
Distribution of Labor
"a shortage of labor is found only
in the Middle and South Atlantic
States and this is largely of unskilled
workers. In the rest Of the country
the demand and supply appear bal
anced. Only in some sections of the
Middle Atlantic States is any unem-
ployment reported and this is in GER
tain of the skilled trades, chiefly the
building and shipbuilding trades.
"An important disclosure Of the
survey is the seriousness of the hous-
ing situation. In many of the larger
industrial centers where the shortage
has been most acute, the investiga-
ton of the Fidelity & Deposit has dis
closed building operations to be de-
creasing instead Of increasing.
"The call for buildings comes loud.
est from the most essential places Of
manufacture, rather than from the
retail centers, and is for low-priced
dwellings.
Agriculture in Fine State
"In no section of the country did
the investigators find sentiment in
favor of government ownership of the
railroads; and everywhere better
transportation conditions are report
ed.
agriculture is generally recogniz-
ed as the backbone of the country,
and the farming situation is excellent;
from no section has an unfavorable
report been received. They are well
supplied with funds from the sale Of
this years crops, but they are wise
in that they know that more favorable
marketing conditions can be created.
'"The recent drop in grain prices is
reported to have had no effect except
in the Rocky Mountain States. Farm
ers. of Illinois, Indiana, Michigan,
Wisconsin and other central states are
withholding grain.
Money is Tight
"In the financial. field, money is
tight. That may mean several
things: first, that the people want
money badly to put into producing
activities; second, that the banks at
tempt to get whatever the traffic will
bear, shearing close to the skin; third
that there is an inadequate supply Of
money; or fourth, that those who have
money lack confidence.
"There are other reasons. no doubt
and among them that as the dollar
now buys less than heretofore, people
with money wish to charge more for
the service that money gives. No
one can accurately say which Of these
causes is the most important factor
but probably all contribute to the pre-
sent situation.
Banks Well Loaned Up
"The reports from every section OF
the country state that the banks are
we'll loaned up, although money is
available in the east and central dis.
tricts at from 6 to percent interest
The Southwest, Rocky Mountain and
Pacific States report the highest in
terest rates, averaging from 8 to 10
percent, and in the Mountain district
as high as IL percent.
"There is great encouragement
however, to be drawn from the fact
that in only one of the nine geograph.
ical divisions, the Rocky Mountain
has there been decrease in bank de.
posts during the last six months
While the general increase includes
corporation deposits, individual saw.
ings accounts shows more marked
improvement everywhere. This seems
to show clearly that the orgy of spend.
ing and extravaganza is over.
DiscOunting of Bills
| "Discounting Of bills by industrial
concerns is universally reported. Elk.
cept in the Middle Atlantic, South.
western and Pacific Coast states, man.
ufacturers appear to be carrying
large amounts of customers paper.
"The country does not like the pres
ent taxation system. The excess pro.