The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1921-06-23
RY DAVID 1AwRrNcE


WASHINGTON. June z2-The busin-
ess situation throughout the country
presents to government eyes certalR
good and bad aspects. The good CON
sists OF turn for the better in many
lines which six months ago were hard
est hit and the bad arises out Of
tne fact that certain Industries which
didn't feel the wave of depression
last winter now are beginning to sag.
The situation is not now and never
has been uniform. No two induseslee
have been hit in exactly the same way
and at the same moment. This ex-
plains the almost continuous flow OF
pessimisdc talk whose undercurrent
mas been sensed here ever since last
December. The only danger in the
ak itself is that certain industries,
hich are on sound basis. may be
nfluenced to curtan their activities
imply because of a fear that the bus
ness depression makes promotion and
expansion inadvisable as a matter Of
principle.
wAEN AGAINST PESSnEIST
Therefore, officials here are inclined
% SOUND warning against the ac-
ceptance OF pessimistic statements for
anything more than a reflection 6f the
particular industry or business about
which the pessimist happens to be in
formed. Gov Harding Of the Federal
Reserve Board has insisted in his re-
cent speeches that IL the pessimist had
done more talking last October. when
retrenchment was being urged by the
government he would have been val
liable factor in tho read justment. But
much OF tho pessimism is beginning to
be circulated just ct the time when
many Industries are on the upward
swing and when their progress will be
made painfully lower By the continu-
Gus rnurmur1ng about bad times ahead.
Tho c1earest idea Of the business re-
adJu stment whNh This country has ex-
perienced since the war IS given by
one man who uses tho sirnile OF
the march OF the industries themsel-
yes The column has been making
marching column OF troops to illustrate
right wheel turn The troops nearest
the center move slowly and mark time.
These are the industries like the wool
en- and textile business, which were
hardest hit last winter. and then mark
ed time while they adjusted their labor
costs, arranged their loans in banks.
wrote of thefr losses. and then slow
~ began to move again. Most Of the
trades which suffered In December and
January are gradually coming back
not rapidly. OF course. but with suffi-
Client progress 70 make the pessimist's
prediction OF many years OF bad times"
entirely unwarranted. 1t has been
matter OF months and not years.
WAGE CUT PROBABLE
Just now the oil and steel businesses
are at the edge OF the marching coll
umn with long distance to go to
make the complete turn. Prediction
as to when the steel business viii have
made tho turn and gotten back into
line IS a matter OF personal opinion
n Washington. There IS. however. an
inclination to expect tho steel industry
TO cut wages soon and cut also the
pI4ce OK steel.
steel was IN prosperous mood last
winter ~heD wool ara -uk ard 1-athe-
1sre IA distress. There has been de-
cid-d turn for the better IN wool and
textiles and leather while steel is on
the edge OF the marching column. The
Industrial centers are beginning TO feel
tne readjustment pains which six