The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1920-11-19

by observing peoples whose condition
is worse than our own. The man with
one leg, overcome with self-pity, can
acquire new courage by seeing a man
who has none. Indeed, all life is
matter of comparisons, and COMPARE
sons are never odious when they are
comforting. So, if we will but look
about us, it is nightly cheering to
reflect upon the fact that this is Amer
lea and that we are Americans. For
surely it cannot be denied that in this
period of universal trouble the United
States and the people of the United
States are in far better condition, in
every way, than the people of any
other land on earth. No nation I'M
der the sun is so blessed with the ma
terial and spiritual resources of hap
pincss. No nation is so prosperous.
No nation is so richly endowed with
working capital in the bank of nature,
or with liquid capital in the banks of
men. In no country is individual free
dom and the means of applying that
| freedom to individual accomplishment
so happily associated. Both actually
and relatively We are the most for
tunate of mankind.
But now, having looked outward for
external comparison, let us look in
ward. We have emerged from the
greatest and most disastrous conflic,
of all times not impoverished but en-
riched. 1t is true that the govern
ment has contracted a debt of Some
twenty-five billions, but all Of it is
owed to the people Of the United
States. The bonds which represent
this debt are owned by the people, to
a very large extent the masses of the
people, and they are, to the individual
owners, assets andsnot Liabilities. Ev-
cry one of these bonds is as good as
gold in its security, and better than
gold because gold pays no interest
from possession without use. But
concrctely we are immensely richer
than we were. The national wealth
before the war was $187, 900, 900, 900.
Even allowing for the difference in
the purchasing power of the dollar we
are undoubtedly worth double that
now. Our deposits in national banks
have increased from five billions in
1910 to over seventeen billions in
1920; our deposits in savings banks
from little over four billions to about
six, and the number of depositors in
savings banks from nine million to
more than eleven millions. Our bank
clearances have grown from $780,
000,O00,000 in 1900 to over $500.
OOO,OOO,OOO in 1920. Our wealth per
capita which in 1920 was $1360 is now
estimated at $4,000. There is plenty
Of money in the country, and it is all
good money, worth 100 cents on the
dollar anywhere.
The farms, which are the founda-
tions of all prosperity, have been
prodlgal in their generosity this year.
The corn crop is the greatest on rec
ord, and nearly all other crops ar.
bountiful. We have at hand or OBJ
tainable all the materials for manu-
facture, in most lines in abundance.
Our transportation troubles of the
last few years are vanishing under
the impetus of private ownership
backed by government support. The
alarming tendency toward radicalism
in industry has ceased, and the indus
trial clouds which still hover may dis
sipate in like manner with changing
conditions and wiser councils. Prices,
to be sure, are lower and lowering,
but is this not what we have prayed
for and worked for? Business. it is
true, has slowed down, but how can
we turn the corner with safety with
out reducing the speed? The country
for long time has been running at
a dizzy and reckless pace, in a great
Joy ride" amid the woes of earth, and
now the brake is on. 1t is essential to
our welfare that we slow down. 1t is
essential that We get back to normal
conditions and habits of life. And in
the great but necessary reimbursement
that is upon us it is inevitable that
there be some losses. The tremendous
concentrations of labor upon particu-
lar activities, brought about by the
demands of war. unbalanced our in
dustrial system, and the balance must
be restored. This cannot be done
without some drastic displacements of
labor, through the shifting to the nor
NAL avenues of industry. The diff
culties and trials of this process are
not to be avoided, and it is no part of
this gospel of cheerfulness to advise
shutting our eyes to them.
But it is a process and nothing
more, a process of readjustment to
new and permanent conditions which |
are to be for our general betterment. |
We are descending from the heights,
where it was impossible to stay. Ali
realize that. But we are not Jump
ing from the cliffs. We are coming
down by the safe road, and when we
have reached the level we shall all be
better off, not only better off mater
tally but morally and spiritually. !
What matter, then, the bumps and !
bruises of the descent? We are on
our way to the normal attitudes
wherein are to be found economic and
spiritual health. Disaster is not be-
fore us but benefit. With such re-
sources as we have, with such
strength, intelligence and courage as
we have, there is nothing to fear. We
have always liked that confession that
the philosopher had printed in PLAIN
letters over his fireplace, where it
would be constant reminder: 81
have had my troubles in my life, most
Of which never happened" Cheer up,
America. We are on our way to bet
ter things.-Globe- Democrat.