The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-12-16

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George Russell Jr., president Of the
Nevada Livestock Association, who
attended . meeting OF the Pacific
coast businessmen held recently at
Del Monte. California. as a represen-
tstivs OF Nevada. returned last week,
and In an interview with the Free
Press said in part:
Just what Is In store. from an eco
nomicai phase. for the ultimate re-
suit of business in general In the
United States. during the next couple
Of years. Is problematical and q Ques-
ton which Ia just now receiving the
deepest concern and the utmost study
OF U greatest men in every industry.
The nation is receding from one
Of the greatest waves Of prosperity
ever known. and unless due are is
taken we may enter into an era Of
adverse times. the result Of which
may terminate seriously In . great
many events.
Permit me to exemplify my ideas
on q few Of the existing trade condi-
lions Of today.
First OF all. the United States has
produced one Of the largest crops in
Its history. Granerics. elevators.
warehouses and storages are taxed to
their fullest capacity. while there is
just as much money in this country
as before. still the demand for credit
and the cost to maintain and operate
business is 81 great that an enormous
credit was necessary to be extended.
Large concerns have been forced to
sell short-time paper, issue more
stocks or sell bonds. SO great is the
need for money that they are COM
PEELED 70 offer exceptionally high
rates of interest.
Among those who appear to be
most dissatisfied with the treatment
from the reserve bank is the farmer.
more especially from the east and
middle west. While respective farm
ers and stockmen may have cause for
their complaint. and justly so. I will
not attempt to discuss that question.
with our consumption much
smaller than our farm production.
estimated to be worth $l3. 800 600. 900
this year. the combined yield Of the
ton per crop a thirteen per cent
above the average for dve years.
Thousands of bales OF cotton on hand,
one of the largest crops in u his
tory. In the neighborhood Of COZ. 000.-
600 pounds of wool in our ware
houses, an adequate amount to supply
the needs of the United States for
twenty months. The packers stor-
ages filled to their utmost with hides
that cannot be marketed. A corn
crop Of 3.lss. 900 bushels. an unprece-
dented report and about four-ffths OF
the worlds production. The rice
crop Is $1,000. 900 bushels. which Is
one-fourth greater than the largest
crop ever before harvested. The to-
bacco production Of 1.476.000.0o
pounds. the sugar beet crop OF 49,
DO. 900 bushels and the potato crop
u $4,000. 900 bushels. lrhe apple
rfoduction is 236. 000. 900 bushels.
Which has been exceeded only once.
This is followed by a bumper wheat
crop. one OF the largest v e raised
ii the United States. Locally many
thousands Of tons Of hay are on hand
FOR which there seems to be n o APP
parent market. All of the above
mentioned was produced at the high
est cost to the producer.
ION the other hand. factories are
closed daily. throwing thousands OF
people out of work and the raw ma
terial lying unused in the warehouses
crystalizing the whole.
However, l am no pessimist. am
a believer in reconstruction and re-
Mobilization, more especially at this
time. believe II Ia within the power
OF the people or congress to play an
important role that this impending
danger may. to a great degree. be
avoided.
Through special agents and by
other interested people a thorough
survey Of the economical conditions
OF Europe has recently been made
We are told that Europe (save Great
Brittany Is in a most deplorablc con-
dition. financially. Frances great
factories are lying idle. Her rate OF
exchange 10 so low that 1t Is possible
for her to do but little trading with
enr>i~c countriaa Still Mt the same
time. her people are putting in every
acre OF land possible to cultivate.
The conditions in Switzerland are
aitogether different than any other
European country. 1t Is being the
rsfugees' home, hundreds Of the mem
bers Of royal families and other refu-
gees who fed to Switzerland TOT
sassty during the war. Everything ~