Arizona republican., 1921-01-31
FIRST SHOCK" OF DEPRESSION Is OVER
 REPORT DECLARES

Although the general business situ- ation has changed but little during ths past months, there are pronounced in dications that the first shock of the present depression is over, in the opinion of Archer Wall Douglas, chair man of the committee on statistics and standards of the Chamber of Com merce of the United States in his monthly report on business conditions issued by the Nations Business.
 ''The most cheering and hopeful fea ture of the situation is the fast spread ing realization that what we are going through is the only possible way to teach us the indispensable need o1 hard, conscientious work, some thought of obligation to our tasks, and getting back once more to those temporarily lost arts of salesmanship, of common sense merchandising, of economical efficient production and distribution says Mir. Douglas.
 "Only thus can we give service Tn every phase of national life. The. railroads have set the example of re- trenchment, by company, by team work. and by the best service they have given in years. And that is what every other business will have to dl if it is to save its soul alive. N
 Automatically everywhere produc- l40Al Ao e1uJuSlah6 4NSCiL tO This phase has finally reached the iron and steel industry, and is general throughout industrial life Textile mills got theirs first, and consequently, le- cause of lower costs of production, seem farthest advanced on the road 10 adjustment At this writing, more of them are resuming than shutting down. Automatically the situation is tend 1 ing to a more normal relation between supply and demand, which means the solution of many of our problems. Dealers, who on a falling market are endeavoring to sell only on high prices they paid. rather than on re- placement costs, are fooling only themselves as to their ability to get away with it; as are also those mann facturers who have elaborate reasons why they should maintain war prices indefinitely. The sooner within a reasonable time, both of them Uak6 their medicine, the sooner we will re- turn to normal times.
 ''TThe general thought of business men everywhere is fast crysta1izing into the resolve to find some way out of the difficulty, some method to chime in with operations Of those natural laws which must finally work out the complete solution of our num- erous problems. Unfortunately, the remedies so far proposed in congress are mere temporary expedients of which it is doubtful whether they will even accomplish their passing purpose The fundamental soundness of the sit uation is widely felt. The general me ntal attitude, while recognizing the loompleteness of the collapse of infla- ton, perceives that it was not only in evitable but necessary before a more inr f-or hac fass is the basis for that widespread under tone of confidence in the not far dis tant future. Always provided o course, that we work out our saliva. lticn with common sense and judgment rather than with fear and trembling.
 There is much surface, but ofteI superficial. optimism as to the neal future, as a good deal Of it is obvioush intended for public consumption. som
 of it, too, would be more convincing i
 it did not come from those who liv' in a financial atmosphere and hav'
 scant personal knowledge of actua conditions prevailing in that vas
 stretch of country beyond the ken O
 those in the great congested centers
 That so many, living in the scenes O
 stagnant trade, and low prices for farn commodities, still have reasonable cor
 fidence in the future is the best as | surance we have in the belief Gin me neurological phrase) that the center
 of the depression is now passing owe
 us.
 "To those who still seek comfor ] from that ancient fetish, the gyratior 7 Of the stock market, as prophesyin ? the future, all they have to do to b } dIsillusioned, is to contrast the curve of twenty industrials and twenty rail
 roads during the past five months, t
 see how utterly at cross purposes the
 ere, and how little they indicate th . rctual situation
 I While industrial life is steadil
 tending to increased economy and ef I ficiency in production, the great worl
 of agriculture is adding day by day |
 It's enormous wealth producing capaC ? lty The raisin crop of the San Joa r Guin valley was sold last season fo 2 $50, 100000 and weighed 1s2 900 tons \ The sugar cane syrup crop of tn - South has become a matter of grea local importance and last year brough . $45, ,0O0,00 to its producers
 wisconsin has 75.00O sllos thos
 great reservoirs of winter feed for live
 stock while Michigan claims S2 o0
 with the number increasing all tn
 time. In Wisconsin over S,000,000 ton
 of silage were cut in 1920. We ar
 steadily increasing our production C
 sugar from sugar beets and in 1920 tn Yield was about 1000 900 tons or 2 lrer cent of our domestic consump
 ton"