The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-12-19
|neOression Merely Stage
81 Setting for Heaviest
Business, Crow Says
|oNE YEAR TO ADJUST
Then Comes Beginning Of Big
Economic Renaissance for
Y. S. and Whole World

..ys setting for the era OF pros
So that is to follow: But many
~ and act as though we were ad-
,s,in,sierlng the last rites and cere-
.snnes of the nations business
sach was the preamble to an. ad-
49,, delivered before the Tulsa
Raj Estate exchange at the Thurs
taS MONDAY luncheon. BY /. +.
S,ox president and general man
,sc, Of the oklahoma Union Rail-
NV company in which the speaker
nnldly faced existing conditions In
,,dus,ry with the assurance that
,hey arc simply the forerunner OF
,sa greatest era OF prosperity this
ssticn has yet enjoyed. One year
AZ readjustment, he holds. will be
Slowcd by ten years Of the largest
S,eylopment long all lines such as
No one now can make any attemp
70 fully appreciate or realize.
nontinuing Mr.. Crow said:
We arc going through an ad-
n,ment of initiation caused by a
war, that Is without precedent An
sre' scope. methods and destruction.
Adjustments, relative In size.
AVE had TO be made. following ali
wars. either in this or other coun-
ues,
Improvement Rart OF Debt.
The question OF how IA rthe in
Nation will be reduced Is Of serious
concern to any person seeking "A
tue view point of stability One
important Initiation to be consid-
ered is our national Indebtedness.
and its consequences. In earlier
history most all public Indebtedness
0. this or other countries grew out
ol. Of war. OF late years 1t has been
IN part, for public improvements.
While war usually temporarily re-
ards civilization. its ultimate effect
has always been to simulate
thought and action. and followed by
a period Of business expansion.
For example: The opening OF the
great western country, and the de-
ulopment Of the south after our
Civil war.
The era Of development Of both
France and Germnay aftor the
Franco Prussian war.
The Industrial and political
awakening of Spain, and the agri-
cultural and comwercial develop
nent OF Cuba. Porto Rico and the
Philippines, following the Spanish
American war.
Caused Jnps-Russ War.
"The Introduction of modern
IDEAS into the civilization OF japan,
together with the economic de-
ysopment and an effort TO enter
tie worlds markets with thei
products, was the outgrowth of the
Japanese war.
"Grea, Britain has always been n
Progressive and a creditor nation
ci the world and following her VIC
tory over Napoleon she found her
sell confronted with a huge war debt,
which later with other Indebtedness
Vas funded into ~He consolidated
annui,ies, with no hiaturities.
In France the main portion OF
tac funded debt Is perpetual.
In very few cases has nationa'
public Indebtedness been entirely
paid but in some form became 4
perpfhnent investment as part o'
ae working capital OF tho world.
In readjustment OF the fnagni-
tude confronting our people at this
TINE, some very serious consequence
follow, and inevitably unjust or
some classes. one example at this
t'Fne Is cotton selling 10 rless thar
US cost OF production. and reservine
serious attention to avert almost
ossster to a considerable section OF
the country. The same remed,
would appear to be the granting OF
a loan to he used In purchases, Il
countries that need or will use oui
h,,s nlfn ~, at In n
me price Of their exchange con
"''ed into our money.
Rents Yet Unchanged.
!N'h.. .sayer" 1000 c..
The condition of tho unemployet
row indicates that II will soon be
.ome menace to the public wei
ARE and should be checked bcforI
~ consequences are seriously hury
NY. Of the three substantials
,nne--food, clothing, h0using---th'
I've FORMER have been partially ad
'as3d' Rents remain exorbttant.
fN manufacturer and the whole
ner have adjusted much NOR
tucky than the retail dealer. whit
o"eh reluctant to make n rcduc
on Commensurate with tho pur
s"asers idea of tho present neces
y cost OF production. Tho en'
~ 'he year 1921 will be close befor,
WI adjustment will be anythin'
Sa, complete, but we do not nee'
matt all progress while thes
Contrary.
~. No Peak for q Decade.
me Real Estate men have al
ae s oeen and ever will be the mos
,v sv.eht factor In the upbuilding o
wy eity We all love to hear tn
ss,,' conservative" In all lines o
n,sy' but ultra conservative mel
,onsss oulid a city, but will ever b
su s~a iivins in deceased towns.
NY building requires men O
aS.se and vision. Tulsa has a
sn.s IN OIL that has a stabilizin
q n, not found In any other cit
N ns ume. What We may expec
a. luture, we will simply reiter
low. mat after war Invariably fol
vain, business expansion, which
adns.s now only upon neccssar
unss,nents, and reckoned ON tn
the hsT.snee rs,e OF previous wars, an
ius, mlstlve magnitude of this on
see ,.hnaed, the next decade will nc
peritr crest OF the wave Of pros