The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1920-11-26
BUSINESS REVIEW OF WEEK SHOWS
CAUSE FOR THANKS, EXPERT SAYS
Finds That Gloom of Last Few
Weeks Is Disappearing and
Country Is on Sound Basis
BY JOHN W. HILL,
Financial Editor Iron Trade Review

BY JOHN W. HILL.
Financial Editor Iron Trade Review
f. America has ample cause for cele-
brating Thanksgiving this year. At
ter weeks of prevailing gloom, a few
encouraging events are beginning tC
emerge. a-r r,.E./
Some Of these developments denote
economic bogs safely passed. Others
point to better times to come, when
REIMBURSEMENT from dangerous war in
flation has run it's course.
Cheerful Factors
Cheerful factors, for which Ameri-
cans should be thankful include: un-
precedented crops, abundant coal pro-
duction, easing credit conditions, i'm
proving European exchanges, better
retail trade. freer freight movements
and the rising purchasing power of
the dollar.
No Complete StagnatiOn
In addition, it is well to remember
the bigness of the. job of supplying
the bare necessities to Americas 105,-
100000 population. This means en-
ployment for millions and makes any
thing like complete business stagna-
ton unthinkable. Profits await those,
even in the present depression, who
strive for low prices and rapid turn
over.
Crops
Preliminary official crop estimates
contain a Thanksgiving sermon. They
show that four haryests-pears, rice,
sweet potatoes and corn - exceed all
records. The wheat yield decreased
191 100000 bushels, but the total OF
leading grain crops is over 3O0,0OO,O0O
bushels more than last year and near
ly 5O0,O00,0O0 bushels in excess of the
five-year average.
Cheaper Food
The country is assured of plentiful
supply of cheaper food. Prices for
principal crops dropped ~ per cent
in October. against a normal decline
of 3.S per cent. during the month.
Crop prices are now 2S per cent. be-
low one year ago. Corn and oats are
back at their pre-War levels. Cotton
is within a per cent. Of its 1913 price.
Wheat has lost more than $1.O0 a
bushel since midsummer.
Bankers Optimistic
A powerful group of New York
bankers declared a few days ago that
fundamental financial and business
conditions are sound. They know OF
no sore spots. they said. The fed
eral reserve board asserts that "busl-
ness is showing inherent strength and
the ability to attain stability through
adjustment
Exchanges
Recent Improvements in European
exchanges is due partly to better sen
timent resulting from the League OF
Nations meeting in Geneva. II the
gains continue the purchasing power
of Europe's currency will increase IN
this country This would tend to re-
vive dropping exports.
Export Financing
In December an important meeting
Of bankers will be held in Chicago, to
form a S1O0,000000 corporation to
finance foreign trade. This is one
means by which it is hoped to\restore
activity to American industries. Plans
are also being ADVOCATED to extend
vast credits to Germany to enable her
to buy here. i
Department Stores Buy
An encouraging development has
been the announcement of several
large department stores, doing mill
ions of dollars of business annually,
that buyers have been sent into the
markets for spring goods. They be-
Continued on Page Two)