Every evening, Wilmington daily commercial., 1920-12-22
: Sion Talk Of Hard Times.

Despite the assurances that the finan-
cial conditions Of the entire country are
good and sound, there is doubtless much
apprehension in various centers, ana we
may say that Wilmington has not escaped
this feeling of dread-of worse things 10
come. But apprehensions are not war
ranted by actual conditions, and there |"
no likelihood Of any financial furry here
unless, indeed, everybody becomes oo-
sessed with the belief to the contrary.
Nothing in the world can create such con-
ditions but fear and distrust, ard as soon
AZ the people of Wilmington and all other
communities stop talking and thinking
business depression the fear OF 1T will DIS
appear. Every period of depression in the
past has been intensified by doubling ana
distrust and everyone might have peeh
largely averted had each person resolute-
ly refraincd from permitting himseh ="
be hypnotised by fear.
It'is shown by the report OF the banks
of the country that the volume OF trade
last week WAS unusually large, even ior
Christmas time, only, indeed, 13 per cont
below last years almost phenomenal rec
ord, and buyers are reported to be gem
erously responding TO the marking down OF
prices. Undoubtedly there is moro Idle
ness than = year ago. both here ana
| throughout the country. This has IN
creased moro than 100 per cent, but this
is due, 40 everybody knows, TO the read
justment Of prices, especially in scaling
down the wages of mechanics and lnoorers-
Naturally and logically, there rs not the
demand for goods at the prices paid dur
ing the war, or last year, but there Ia stu
an active demand for almost every staple,
or will be 90 soon as the prices are set
At lower level. We have, il is estimated,
about 5000 men out of employment IN
this city, which is less than 20 per cent
not a large enough number to cause seri-
ous concern, it will be conceded.
If every man and woman would stop
thinking and talking and acting "haru
times" and realize that there are ~,
OOO. .OOO. 600 in the banks of the country
and that we are enormously rich, and
have a larger world market than ever
before. there could be no more disturb
ance in sight than the passing cloud OF re-
adjustment, that must give way to sun
shire
We must refrain from circulation OF
false testimony against our neighpors'
and repeating gossip carelessly set IN
circulation by persons who, perhaps, are
unmindful of the harm that is likely 70
ensue from spreading these baseless
rumors. To report thst MIR. So-apd-So
is '1ikeIy to fail'' j. almost as sure to un-
favorablv affect his business affairs se the
repetition Of some rumor condemning his
morals is certain 20 damage his personal
character.
II would be wise conclusion for al
TO start over again and on new tack
knowing that the country is Immensely
rich and its people prosperous, which art
two vital truths. and instead Of repeating
false reports. let everyone zee facts II
their correct relations, and become
booster" or at least check the spread o
fear Of impending disaster.
One recalls that three or four years be
fore the war. there were widely curren
rumors that almost all the big department
stores in New York City were on the verg
of financial disaster, and people watched
the papers daily for news Of such failures
Instead of eight failing-which was Ia
number set by gosspis-there was not
single failure, and it was subsequent Il.
, learned that the reports sprang from IN
fact that one firm applied 10 bank IN
medium-sized PENNSYLVANIA city TO dis
count some paper. This was sll there wa
!, back of the report that kept all the ooun
, try on edge for several days until it wa
ultimately forgotten.