The Ordway new era., 1921-03-11
CONDITIONS CHANGE
FOR BETTER BUSINESS

Prices are being reduced every
where and average quotations show
that 60 cents today, in many instanc-
es and in many sections, will pur-
chase just about what $1.0Q was re-
quired to buy twelve months ago.
This is real deflation of the sort that
is making the family dollar more pro-
ductive, and, stabilizing industry up
on a basis that is more comfortable to
live with. Slowly, but surely, indebt-
edness is being reduced and a prom
issory note is taking it's rightful place
once more as temporary investment.
This is good sign and shows that
the people are thinking again in a
common-sense manner and curtailing
expenditure in accord with the heav-
lily reduced spending power of the
nation. Capital and labor, except in
sporadic instances, are cooperating
better and the nation is developing
the kind of teamwork needed to In
crease the output of each individual
worker.
Back To Normal
Some staple commodities have de-
clined as low as they are likely to go,
but merchandise prices are still above
the level at which the public may be
trend is still downward and further
sensible recessions are looked for.
Economists of national reputation ex-
press the view that business revival
will begin this spring. The country
is expectine 1t and planning for 1t.
and the people are making progress
of the right sort and trying to undo
the mistakes of the past. Funda-
mental conditions are sound, but the
situation requires patience, for the
great nations are still spending too
much of their substances on military
undertakings. A recent investiga-
tion shows that the typical citizen can
not afford to pay these days more
than $1.65 for what cost him $1.00
in 1914. This is making due allow
ance for the new income gained since
the world war began.
That, the average American values
a saving account above every form of
investment is indicted by the striking
growth in such deposits, even in the
area where unemployment has been
mcst serious. Various. sections re-
port record savings accumulatAons
and, were the figures for the whcle
country available, the total would
probably be Unprecedented. Within
the past six weeks various cities, mu-
inequalities, railroads, industrial cor-
porations and foreign governments
have borrowed in the United States
more than $500, 100000 through the
sale of new securities. Since the
signing of the armistice, the Ameri-
can people have invested $1,1O0.0O0.-
900 more than the sum of our nation
el debt at the time the world wnr he
gan IN the securities OF foreign gov,
ernmt ats and municipalities. eIs
Country's Buying Power
Agricultural sections furnish, As.
per cent of the country's buying pow
er and general business cannot re-
Poe: sustained recovery until absor-
ption of me, chnndise in this area in
crcsses materially. Producers de-
clare thai corn, oats, wheat, and cot
ten are selling below cost OF produc-
tion "A few are we'll fortified finan-
cN llv h ,wever. owing to the hand
some profits of 1919. Some Of the
national houses are doing q larger
business than last month, although
showing sharp falling on for' The
year. Taking all industries, the coal
steels iron and lumber branches are
making tbs worst showing, while dry
goods; coIens and textile lines are
reflecting better buying. The out
look for copper has bean nnch tm-1
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