The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-09-02
NO ECONOMIC CALAMITY
LOOKED FOR IN U. S.
Readjustment Will Be Grad
ual and Natural-No Need
for Panic.

Washington, Sept "A strong belief
IN q gradual and natural REIMBURSEMENT
OF business conditions. without financial
disorder or any sudden economic Gala
nifty, IL expressed by the committee on
statistics and standards OF the cham
Der OF commerce OF the United States,
In its semi-annual bulletin on crop and
general business conditions.
Tight money, unrest OF labor, the
loosened bonds In some phases of social
life. the Russian Poland war. the high
cost OF necessities. are enumerated as
disturbing business factor, but. in the
opinion of the committee, there is no
need to become panicky over any of
these matters.
The committee finds a widespread
feeling that business will probably con-
tinue good for the remainder OF the year.
Amid all the cross currents and ed
dies of the industrial situation. n def
mite trend seems TO be slowly develop
ing toward gradually Increasing gain
OF supply upon demand and n somewhat
lower level OF prices" the committee
reports. I'm textiles and in some manu-
features of leather there has been a
decrease In production and lower prices.
Here and there mills have shut down.
Here and there they are running on re-
duced time. IL Is scattered and local
matter, rather than p general PROPOSE
tion. What will happen next Is excit-
ing much interest and many prophecies
on both sides OF the question.
The automobile industry seems TO
be headed toward somewhat lessened
output Also the jewerly business in
New England is slowing down. Com
trariwise. paper mills are busy and full
OF orders. Equally is this true OF the
metal lines. especially in finished
~ b. LAT To-
prices are still advancing. with no i'm
mediate signs OF a decline.
There Is much complaint OF the in
efficiency OF labor and OF It's scarcity,
though this latter feature grows less
marked. Shipbuilding displays lessened
activity.
Whether mining is busy and prosper
Gus or the reverse depends upon the ma.
ture Of the metal Gold mining still
suffers from high cost OF production
and the stationary price OF gold. Silver
mining feels the effect OF the decline in
the price OF silver. The price OF zinc Is
low. and the demand not equal to the
possibilities Of supply. Lead is higher
because OF increased demand. Copper Is
dun. because supplies for drilling oil
posed Of. Iron mining Is good. Phosphate
mines In the south are doing well after
many lean years.
Contraction in financial credits has
put 'wildcattins' In the oil regions out
OF business which makes business there
duh. because supplies for drilling oil
wells are no longer called for.
Building Troubles.
CONSTRUCTION and building have
slowed down, because of many things
such ms hight prices and scarcity OF
both labor and materials-practical with
drawal OF credit accommodations on new
Some essential materials
OF building are very scarce--cement and
wire nails, for instance. Lumber can be
had. but cars for transportation OF 1t
cannot.
Goal mining, as usual. has Its flock OF
and lack OF cars being |
the principal ones. But they are enough.
How the consumers and the business
world regard the near future tthe re-
mainder of the year, seems to be
Iargerly q matter OF local conditions.
THE promise now. and II is almost
fulfilled, Is for 5000, 200, 900 bushels OF
corn, SOC. 000, 900 bushels OF wheat. both
winter and spring, and for cotton
held OF about 12.500,000 bales. Cotton
however. is not a safe reckoning as yet.
There will be more oats than last year.
and more tobacco, which Is everywhere
good; more potatoes, more rice-about
the largest crop on record. More sugar
both cane and beet, and especially q
hay crop of such proportions as should
have a marked effect In reducing the
cost of live stock, and of dairy ana
poultry products.