The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-01-10
WESTERN OPTIMISM.

While New York is looking with ex-
treme seriousness to the developments
in foreign trade, foreign exchange and
European conditions the west, far
away from the seaboard, says the
Bache Review. is prospecting greatly
and optimism is the prevalent tone
turnout The volume of wholesale
and retail trade is very large, reports
from manufacturers are cheerful and
the farming community is unusually
prosperous, with high prices for wheat
and other grains. The west looks for
continuation of good times, due to
the great buying power of the farmer.
The volume of mail-order business is
said to be the largest in history, and
business of all the leading mail-order
houses for 1919 will exceed by a wide
margin all previous yearly records.
The farmer is said to be buying with
out hesitation on account of prices.
This includes farm implements and
machinery. Such conditions, how
ever. are no indications of the future.
But rushing prosperity is not al
ways sign Of sound conditions. In
England, according to Herbert n. Cas-
son. writing from London to the Bos-
ton News Bureau, they are having
what he calls FOOLS paradise of ex-
travagance. He says: Britain is
prosperous beyond the dreams of
idealists. There are no poor, except
the unpitied professional classes-the
New Poor-who hide their poverty be-
hind their pride. In the great cities.
in the factory towns. in every farm
ing community. prosperity is roaring
along like a Barnum & Bailey process
sion. The luxury stores are packed
with buyers. More than 16, 900 women
stormed Selfridge's in a single morn
ing of last week. Fully 30o.000 peo-
pie have ordered automobiles and
paid $3.50 deposits. Tiny factories.
whose present output IS four cars per
week, have taken orders for 10000,
10000, $4,000. Nearly all the indus
trial companies are capitalizing war
values. They are accepting the rise in
prices as a real advance in wealth.
They are foolins themselves with the
| fictitious totals of the war period.
They are not using their war profits
to write down their assets, but to
spend and to. invest elsewhere. They
are writing everything up-up-pp."
| Undoubtedly this is a record Of only
part of England's population. The
same state of things exists in this
country in certain classes. There
may be there. as here, a large body
of people who realize the fictitious
basis on which the world is floating
who know that deflatfon must come,
and with it falling values and cramp-
ing losses.
There are. however, no signs of any
let-up In our domestic trade and the
committee on statistics of the United
States chamber of commerce predicts
sustained industrial activity based on
orders In the manufacturing industry,
generally in excess of its capacity for
production in any reasonable time. It
cites the liberal spending OF the farm
ing community as the backbone and
sustaining power OF the present vol
ume of business. The farmer, it says.
is buying literally and inteliigently;
he is buying more automobiles. more
tractors. more poultry. more blooded
cattle, more farm implements and
machinery, more gasoline engines and
electric lighting plants for his dwell
ing and buildings He is paying cash
mostly. and also is paying off what
comparatively few mortgages remain.