The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-12-09
The Business Outlook

the walters in hotels and restaurants
are again becoming preponderantly
male Elevator boys and bell hops
are again masculine, while real ma
chinists are once more operating the
tools in the workshops
Throughout the country, the chief
topic of conversation is the condition
of the automobile industry, and its al
lied trades. Here is where the blow
has hit hardest with the possible ex-
ception of textiles. and here may it
be remarked, was where initiation was
greatest Attracted by the lure of
enormous profits, automobiles and
tires have been badly overdone. Sassy
SKIES and snappy Fights. even nObby
fours sprang into existence overnight
Anybody who could dig up a few
thousands and lease a little factory
space, could assemble some sort of
car. and, aided by bright attractive
paint launch it upon the marke, and.
apparently get by. 1t was ffe same
with tires. Akron the home of the
rubber factories, became a great hive
of industry Hardly week went by
that did not herald one or two new
brands of cars and tires
Even the great established concerns
responded to the psychological effect
of the boom 1t was in the air They
took their profits. or what was left of
them after the tax gatherers got
through, borrowed more money, built
more factory capacity without stint
and so on. ad lib. until the bubble
was pricked Now they are facing
ruthless pruning process with the
prospect of operating for some time
at so or even 40 per cent of capacity
to which must be added the necessity
of marketing a large overstock of
high cost perishable goods under CON
itions Of a forced sale.
The automobile game was one of the
zig factors in the wreclIing of the la
)or market for other branches of in
lustry. The Lake Superior copper
district was almost depopulated by
he insistent demand on the part Of
he Detroit factories for any old kind
# men at fancy prices. The 1920 CEN
MS taken during a period that might
re called the apex of the boom, shows
learly the migration from the rural
istricts to the congested manufact-
ring districts. Now the factories are
isgorging the undigested mass of
Inside labor. which is going back to
ne farm or the mine, as the case may
The automobile industry has been a
asst consumer of steel in many OF its
anufactured forms, and. conse-
iently of all other metals The de-
alton process from that angle is go
g to add to the already large stock
metals, so no great appreciation in
e demand for the produce Of our
ines may be expected until building
are well under way
In fact, the miner has reached the
" water mark. but the tide is due to
I'm. and soon. First there is the la
r situation, which is improving
'wly but surely, for reasons that
We already been cited Then. there
the market, which also is improv-
by reason Of the resumption Of
NA--7 'fNAe anu icolf puA
st, there is the most encouraging
nptom of all. that is the result Of
presidential election.
'he sweeping victory of the repub-
IN party shows one thing above all
ifcial issues and that is a com
tie Republication of the Wilson re-
le and the Wilsonian policies, dom
ic and foreign. The republican
jority in both houses of congress is
rwhelming, and. at last, after
rs of chaos. we will have the leg
tive and executive branches OF
government in accord. Progress
assured. Constructive Legislation
follow as a matter of course. we
at least hope for a reasonable
lomy in the administration Of gov
nent affairs.