Payette enterprise., 1921-05-12

struggle.
During those years people worke
hard and they saved hard Wealt
in this ccantry grew by leaps an
:. bounds. More than twenty millioi
: people be,ame bond owners.
: Then peace came suddenly. Price
!. dropped G little for time but sooI
= the. people who were making biz
wages began to spend freely. Liber
ty Bonds were sold and the money
spent for all kinds of things. Prices
again went up-faster than during
the war. We were in a mad spend
ing panic, Never in all the history
of the world, d idany nation of peo-
pie enjoy greater luxury.
: Credit grew alarmingly fast.
{ Bankers began to seq the danger sig
nails during the.summer of 1919 and
/ talked much of the need to call a
halt upon the enormous loans that
were needed to meet the growing
cost of business But they put off
calling hte halt as long as they
could.
Then-during the summer of 1920
it seemed that everybody called
halt at once. Buying stopped. Prices
began to drop. Work began to fall
off. Soon business depression
spread over the nation that has made
itself felt in every part of the lane.
There is no use to blame any far
away mysterious cause. "Bethren, we
did it ourselves-we plain, everyday
citizens. -
To quote further from the Coun.
try Banker: "If thse same people
would come into the market now
with their war savings they would
not only get more goods for their
money, but their buying would help
to steady rpices.
Now prices in themselves make !
no difference to anybody. All that
hurts is a change in prices, and if
a change in prices is to hurt any.
body to any extent worth speaking
of, it must be a rapid change.
"a farmer can be as prosperous
on fifty-cent wheat as he can on
wheat, provided every,
hing else is adjusted to that same
icale. Farmers are complaining bit.
erly now because wheat is selling
lround dollar sixty a bushel Ten
'ears ago they would have been tic.
lied to get a dollar bushel. Broad
y, speaking, it is only the rapid
hange in prices that hurts.
Every change in price, whether
lp or down, must hurt a good many. !.
t takes money from one set of peo.
lie and gives it to another And these
rice changes go along with some
hing which is more Important
ood times and poor times. A year
go prices we're incredibly high and
ct the nation was truly prosperous
This banker says a good deal c
bout hte way people think when
mes are good or bad. When times y
re good they think upward and
hen times are bad they think down
ard. The great difference between
ood.
During bad times there are Just t
many people willing to work; we a
ave the factories and the raw ma. "
'rials. People are in need of the q
uff. Banks have money to loan D
nd interest rates are lower usually a
ian in good times, Why do we no, e.
t the people work and turn out the e.
uff? Lack of confidence. We are m
linking downward. We are think,
g hard times. That's the answer. a
Tho banker gives his remedy. n,
4 good many remedies have been ri
opposed - greenbacks for example in
Id free silver. AS a remedy for the lto
IL in farm prduGts. A Yale pro- re
ssor of Economics proposes to rem,
y price changes by changing the in
eight of gold dollar All that vi
natural enough, for we haye got
n into the habit of looking to
or afar off for remedy ru
ienever anything is not satisfac. tb
~ My remedy is s,lrr.tr and M
arer at hand; als9 IT is far more of
rtsin.
These laDid, jncious char,ges in tb,
ICES are really die % or state OF
nd. What is pasisr Tan c4anglng on
1r mind-your own indiv idnal Ia
that is the coon am tio
nning for Esr'' lIr3lv you will
gh a: that at fi.st or snort ~ IT. sic
'ause yu have b5or taught 10 be- sio
We that The condi.!oq5 of business an,
the United States IT lny given on
.F eng the uoycnel: Of prices are Tb
to come far-a Wa. mysterious sir
SONS aad force magnatey. can of
rs of indrstfy harons, Wall soa
Get tho trusts. There are all Ev,
IS CT n2neg for. fr,o., for 4, ,,,o,