Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-03-04
From en- Who Kn0lU-

NV. P. G HARDING, Governor of the Federal
Reserve Board: 1.-THE country has recovered its normal state.
are no longer afraid. We are not indulsing in the old
idea Of extravaganza, living beyond our means. Nor are We
troubled so much as we were a few weeks ago with the other
of ovcr-pcsImisn, where people get down in the
dumps and they cannot any daylight; cannot see any
hope; see nothing but bloom and darkness. I say this mall
M candor: We are now looking forward to a year Of constructive
development. / want to say that intrinsically thcre\is no
3 comparison today with conditions a year aso, when there was
uneasincss and apprehension among the best informed over
the badly expanded credit. Business is now rapidly reach
ling Il new level and approaching q sound and sane basis. We
shave a better banking situation. We have passed the danger -
point. We have a better understanding Of conditions"
MELBERT Fl. GARY, New York, Chairman Of
aboard, United States Steel Corporation y am as hopeful
gand confident Of tho future as I have been ut any time. Con-
ditions are no worse than many months ago. The wonder
is that they have not been much worse. Conditions are alb
II normal and even the minds Of thoughtful people arc distorted.
This. of course, is a result Of the terrible time we have passed
through. We have the spirit and determination to overcome
all obstacles to the greatest success
CHARLES M. SCHWAB, New York, Chair
man of Board, Bethlehem Steel Corporations: "Out Of the
present business depression there will come a sounder basis
for the nations activities and business will so forward with
Il buoyancy and force We have never known before, as a re-
suit of reorganization. The whole world during the last few
years has been a spendthrift and a wastcr. 1t has spent a
large part Of it's liquid wealth and has nov. como to a period
where it can go forward only by energy and effort Of the most
vigorous kind. The only business foundations which arc sure
and steady are erected upon the rock Of economy"
CHARLES II. MARKHAM, Chicago, Presi-
dent Illinois Central Railroad: There is every indication
that we shall enter shortly upon a period Of increasing bust
ness activity in this country, following the depression which
resulted from what we have come to designate the buyers
strikc.'> The revival should havo a wholesome reaction upon
every line Of business which is founded upon a real econ
omic need, as are the railways and the lumber trade. I be-
lievc the tide already is turning, and that VIC shall see it con-
tinuc to strengthen during the next few weeks and months
HON. HUGH NJ: CALDWELL, Mayor of
Seattle, washington: 1.-The. shifting from the old year to the
new finds the Pacific Northwest we'll equipped to face any
enocrEency that may arise. Every substantial business mar
). realizes that VIC are in the midst Of a period Of readjustment.
that inevitably must run it's course as a condition precedent to
better business; and whether it runs fast or slowly the nnal
result will be the same"
+. EDWARD COOKINGHAM,' Portland. Ore,
President Ladd d Tflton Bank: "As to general conditions, it
is quite certain that stocks of goods of all kinds are dimin-
ishing rapidly and I look for 9. better condition in almost all
,inas =, trade and industry in GO or 30 DAVIS. This will be
especially SO if our present income tax laws are properly re-
vised so that industries will be relieved Of the tremendous
handicap of the excess profits tax"
r. S. HEIGHT, New Orleans, La, President
Hibcrnia Bank and Trust Co.: 1.-THE year just closed has been
one of drastic reimbursement. Our principal Southern COM
modities have already suffered such a severe decline that it
seems reasonable to suppose the readjustment to new price,
levels is nearly completed and that the worst is probably over.
Certain it is that whatever fluctuations We may have from now
on will he within much narrower limits. ana some hopeful
signs for an improvement are not missing"
NJ, IUSSERAND, French Ambassador to the
United states: "Thc light of day is in front Of US, gloom be.
hind. First, the bleeding. r2VaSeo," heav1ly-l4dcn. VICTORIOUS
nation Of France, like yours, has tho right spirit. Thankful
for IN help that may come from abroad, and much has como
from America. causing a gratitude which will never cease, she
intends to save herself to the best Of her ability. and she will;
she has already begun"
CHARLES II. SABIN, New York, President.
Guaranty Trust Company: "Thoso who arc most closely
studying the existing situation feel that tho turn Of the tide
in declining prices and liquidation is very near. Although
there are many Establishments from the effects Of the war yet
IN bo made in the months and years to come, they believe
there is a reasonable assurance OF a return to normal busi-
ness conditions, stabilized prices, castor money and Target,
business opportunities"