Imperial Valley press., 1921-07-23
HAVE F A | II
SIT TIGHT
GUIDING
SLOGAN
Widely Known Financial Ev
pert Recalls Words of
Washington in Sending
Message of Cheer to Pe0-
pie.

Paul A. Sinsheimer, for many years
bond expert for the state railroad
commission, during the world war a
81 a year financial expert at Washing
ton, and now vice president of the
Mercantile Trust company of San
Francisco, was asked the other day by
ia business friend for some little word
Of cheer in the present gloomy period
of business. Mr.. Sinsheimer's reply
to his friend was so stimulating in its
optimism that publication of it has
been requested throughout the state.
The Press takes pleasure in giving it
space in it's columns. "Sit tight, and
have faith in California's industries"
is the keynote of the statement, and 1t
deserves the attention of all who are
interested in the progress and develop
ment Of the town, county and state.
He says:
"The temporary difficulty of bring
ing industry into it's normal relation
hsip with all that this entails, has ma
turally created certain amount OF
confusion. 1t certainly does not war;
rant the brooding pessimism which
shows a tendency to become fashion
able in certain quarters. The eXper-
ience is not pleasant. but it is pass
ing, and not fixed condition.
"a country's economic condition is
fairly well reflected in its national
credit. The credit of the United
States has become the standard Of the
world. This is the real barometer fer
financial forecasting.
"We are inclined to forget all that
our country has met and successfully
overcome. Washington undertook the
rehabilition of a nation ravaged by
war, whose bonds had been selling
at twenty-five cents on the dollar.
Five years later they were selling at
par. It was the relief of the prevailing
econimic distress of the time that
Washington regarded as his first duty
in assuming the Presidency. His
words are worth recalling. He wrote
to Lafayette:
"'My endeavors shall be unremit-
| tingly exerted, even at the hazard OF
| former fame or present popularity, to
extricate my country from the emDar-
assments in which it is entangled
through want of credit; and to estab-
lish a general system of policy, which
if pursued will insure permanent fa-
cility to the Commonwealth. l think
see a path clear and direct as ray
of light, which leads to the attain
ment of that object. Nothing but har-
mony, honesty, industry, and frugality
are necessary to make us a great and
happy people. Happily the present
fposture of affairs, and the prevailing
disposition of my countrymen, promise
to cooperate in establishing those four
great and essential pillars of public
felicity
"The -four great and essential pill
lars which Washington enumeratei
are as necessary today as then-har-
mony, honesty, industry and frugality
"The wealth of nation does not
lie in things, but in it's people. There
was as much natural wealth in Ameri-
ca when Columbus discovered it -four
hundred years ago as there is today
The difference has been wrough by
the intelligence and energy of great
"The complaint today is 'over-pro
duction.' No one ever heard of a people
starving from over production. There
will be difficulties, and yet more diff
ficulties, to be overcome, but the ap
plication of Washington's formula b!
persevering people will, as in th'
past, work the changes necessary Il
restore economic well-being.
"Nowhere will this restoration conn
, more speedily or more forcibly thai
: in California. When this restoration
, once begins the industries of the stat
will be pressed hard to keep pace witt
7 the growth that is certain to come
The romantic story of California ha
not been completed; it is in mid-swing
e and the brief history of the state is but
forerunner Of what is to be-"