The progress-itemizer. (Water Valley, Miss.) 1918-1929, 1920-04-09
TO THE WHOLESALE
GROCERY TRADE

TO THE WHOLESALE
GROCERY TRADE
Gentlemen: | am an optimist
with big o so far as canned foods
for 1920 are concerned, and most
other branches of real business as
we'll
Why not? With the steel indus
try booked to the limit for the bal
ance of the year 1920 at good prices,
which is the real barometer of all in
dustry; with lumber in active de-
mand at highest prices ever known;
farm products selling at very rem
lucrative prices and the supply of
farm products equal to the demand
there being no excessive supply, nei-
ther is there any great apparent
shortage. The farmer being finan-
cially able to hold his surplus a
gainst the threatened vicious attack
of the short seller, and beisg nat
ural bull himself, there will be no pan
ic in cereals.
The cotton market remains unas-
sailable so far as prices are con-
cerned and the planter still enjoys
the very satisfactory price of forty
cents per pound for his spot cotton
and can contract for his 1920 crop
of cotton for delivery any time dur
| ing the year for over thirty cents per
pound as a hedge against decline if
he desires.
The automobile business is going
/ forward by leaps and bounds for do
mestic delivery for the 1920 and can't
begin to fill orders as fast as they
are booked.
| Textile fabrics arc strong ana
recession or slump in prices is Wis
ible. Factories running on domes-
tic goods are all busy. Labor is well
employed at remunerative wages and
no willing worker is idle MI {
no reason why any
come pessimisttc
tie American pc
the task of increasing
adding to their bank ac-
counts.
There is no pessimism in the Mid
, die West, the great West and the
great South. 1t is only found in the
congested East where the flood of
American Securities is dumped on an
unwilling market to pay for exports
of foods.
Our exports for January this year
have exceeded any other January in
our history and no doubt February
will be found equally as satisfactory
Foreign exchange has increased in
value at least twenty-five percent in
the last sixty days, which will in
crease our exports to Europe in the
same ratio.
1t is only the Federal Reserve
Bank through it's policy of forcing
business to pay usurious rates for
call money that has forced lower pric-
es in stocks, that has thrown a mon
key wrench in the wheels of our fin
ancial system that has produced
Feeling of fpessism, There is still
more money, more circulating med
ium in the United States today than
ever before and this country is not
going to the dogs on an express train
or on an aeroplane for yet awhile, as
we still have the full dinner pail, the
big bank accounts and the big stick
and who shall make US afraid? Ev-
en- though Great Britain and all Eu-
rope are short of food we still pros
per and are we'll fed and clothed.
The consumption of canned goods
for 1920 has just started and rs
making a good beginning. Spot
stocks will be exhausted before the
new pack begins even though the
government has two hundred thous-
and cases of tomatoes yet in store.
Inc people have the money to pay
for the canned goods and this is go
ing to be an eating year even at
going prices.
The multiplied millions of dollars,
yea, billions of dollars that have
crossed the saloon bars in the past
which were literally burned up so
far as any good to humanity is con-
cerned have now in this year 1929 be-
gun to be diverted through other
channels for the purchase of food,
clothing, and necessaries of life to
supply the INDECENT families of the
majority of the drinking men who
have been neglected in the past and
stinted as to food and necessaries of
lifef, with the large wages which
they are now receiving are enabled
to supply thir families with all the
the necessaries of life, with the
the necessaries that have been lack
ing in the past and this will add
multiplied millions of dollars to the
merchants tills and the bank ac-
counts and manufacturers profit so
far as the domestic trade of the Unit
ed States is concerned. And it is
the domestic trade of the United
States with its 100000 popula-
ton that furnishes the market for
the Gamers of the United States and
it is the best market for the can
ners of the United States and it is
the best market to be foufnd in the
world for canned food products.
Yours very truly,
WILLIAM MOORE,
President.