Martinsburg journal. [volume] (Martinsburg, W. Va.) 1920-1977, 1921-04-04
FIDELITY TRUSTS
INDUSTRIAL SURVEY
MOST ENCOURAGING
The Big Question Now Is One
Of Taxation.

David F. Houston, former scTre-
tary OF the treasury in analyzing
countrywide survey Of Industrial,
, financial. agricultural and other
economic conditions, declares that
The big national question is taxa
! ton with peace settlement and inter-
national trade next
The survey, made in all Of the geo,
graphic divisions OF the United
States by field agents OF the Fidel-
ity and Deposit Company Of this
city, consisted OF answers TO &c
questions by farmers, bankers.
manufacturers and public officials.
! IN interesting feature OF the stats.
ties Is that in every section except
New England and the Rocky Noun
tain states building operations show
marked increase. General trans
portation conditions in every state
were reported good and raw ma
tefials plentiful. SAVINGS accounts,
The survey showed increased in 10
states.
Police officials Of q states said
there have been noticeable III
crease in crime over last September
bnt a decrease was reported in Mas
sachusetts. Maine. New Hampshire,
Vermont. Rhode Island, Connecticut
! New York, New Jersey, Pennsylvan-
ia. Delaware, Maryland. District OF
Columbia, Virginia, West Virginia
HUrth Carolina. South Carolina,
Georgia, Florida. Kentucky, Tennes.
sec. Alabama and Mississippi.
IN every state the consenus Of
! opinion was thai the farmers have
not disposed of all their last sea
sons crops. Low prices and short
age OF money and labor are said to
have caused reduction in acreage
in all states except Illinois. Iowa,
Kansas, Missouri, Nebraska and the
Pacific coast states. The crop out
look in every case. for 1921, how
ever. was reported fair or good
The survey indicates that the
business world is still feeling it's
~aY. but with increasing confidence
and with the conviction that the
I worst has passed" said former Sec
! retary Houston. "rhe country has
successfully borne the strain caused
by a most notable drop in prices,
+ particularly OF a vast volume OF raw
materials, and has weathered a try
, ing period of liquidation.
The demand for finished pro
ducts has not developed to the point
/ Where our factories feel justified in
taking the requisite quantity of our
surplus ia materials to furnish the
hnf.
bnt there are some indications of
change in this direction
This survey does point to certain
favorable domestic conditions. The
cost Of living has appreeiably dimin-
ished Building operations in
number of districts tend TO increase.
There have recently been no strikes
Of consequence Greater producttv-
ifv per man is reported from all dis.
tricts. Raw materials are plentiful,
and physical transportation condi-
tons arc good There have been no
business failures of moment. The
crop outlook is satisfactory; and the
banking situation has improved.
The country is better off today
than it was three months ago, and
manufacturers in growing numbers
arc planning definite production
! schedules. information from other
quarters than this survey indicates
itAat the automobile industry and
+ soce textile lines are picking up
now But the public is still restrict
/ ing its buying and probably will
continue to purchase cautiously UNI
J. II retail price REDUCTIONS become
more nearly equal to the reduction
IN manufacturers and wholesalers
/ pices