The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-04-04

fancy. the business men Of the
country are feeling their way with
sound business caution and the
country is WORKING back toward .
more stable condition.
What the survey discloses should
be an encouragement to us all to
go forward with confidence, though
not with recklessness."
More than 1000 representatives
of the Fidelity & Deposit company
gathered the information contained
in the survey. They obtained from
bankers. manufacturers, business
men and others. answers to a Ques-
tionnaire covering economic, agri-
cultural, industrial and general
conditions. The replies were tele-
graphed to Baltimore. where they
were analysed and tabulated. The
review was made in the same fash
ion as the company's first survey,
published last September.
In preparing the QUESTIONABLE,
economists. lawyers and many men
in public life were consulted to
make it as complete and compre-
hensive as possible.
Mr.. Heust0n's Comment
Mr.. Houston, formerly secretary
Of agriculture, and more recently
secretary Of the treasury, made his
comment after q careful study OF
the survey chart prepared from the
Geographic replies. His statement
in part follows:
While the survey shows that no
section Of the country reports a
marked increase in industrial &C
tivity. and that manufacturers. dis
tributors and consumers still are
proceeding on a short-time basis,
this does not mean that the gen
eral industrial situation has not i'm
proved. The country is better Of
today than it was three months
ago, and manufacturers in grow
ing numbers are planning definite
production schedules.
Meanwhile, producers, distribu-
tors and consumers are operating
for immediate needs. with a ten
dency TO take large chances and to
go forward. An appreciate reduc-
| ton in wages is noted in every sec
ton, and in virtually every kind OF
industry. The fact that savings &C
counts have increased in the indus
trial sections, however. would seem
TO indicate that in such districts
wage and salary reductions have
not been as great as the reductions
in the prices of commodities. and
that. therefore. fortunately. the de-
crease in wages has not necessi-
tated a lowering Of the standard OF
living. Except In New England
and the Rocky mountain states
building operations are Increasing
Credit Situation Better.
"The credit situation is improv-
ed. Interest rates range from s to
! S per cent for the country as a
whole, but banking funds are re-
ported available by every section
except the south and Rocky noun
tain regions. Corporate balances
everywhere are reported to have
decreased, and this is one of the
| unfavorable aspects of the presen,
situation. Yet it can be partly ex-
planned by the fact that the grow
ing purchasing power Of the dollar
permits a reduction in the size OF
such accounts.
1.-THE crop outlook Is stated to BIZ
good everywhere except in the cen
trail west and on the Pacific coast
Farmers are reported to be reduc.
ing their acreage, but this must b.
taken with reservations.
The reports from some agricul.
tural sections Of farm labor short
age may mean that the employers
cannot get labor It their own price
and it is significant that outside o.
the farming communities in the in.
dustrial sections, the reasons As.
signed for the reported acreage 70.
auctions are low prices OF farm
products, rather than shortage Of
money.
"A demand for farms by renters
is observed in Illinois, Kansas. Mis-
souri,, Nebraska and In the Soutt
Atlantic and Pacific states. No
where is there notable movement
Of men to the farms from the in
dustrial centers. But this Is NO
abnormal or necessarily undesira
BILE. After all, farming must pay
and in the long run there will b
as many engaged In farming as vii
produce the commodities which TIL
consuming public viii buy At
profitable price.
The housing shortage leads q
the most important locsf question
In the hundreds of communities
covered by the Fidelity Z Deposi
company's reports. Unemployment
ID second and taxation third. Sec
tons which report . noticeable in
crease in crime since last Septsm
Der are the middle west, Rock.
mountain and Pacific coast stAtet