East Oregonian : E.O. (Pendleton, OR) 1888-current, 1921-08-01
~~s-~-A-~@e@~-~S- $1,000
HOPEFUL BUT NOT HILARIOUS

HERE is room for hopeuness but for undue optimism
the business situation according tc the monthly re-
by the National City Bank which review is regarded
as being of much merit
THE general trend business and industry during the
June been quiet repressed Some further
hopeful signs have appeared side by side with others which give
LESS encouragement.
The plain truth of the thing is that the recovery of business
which has been hoping and waiting since depre
sion began late last year. has not yet NO m
will be furthered by osrchke attitude wch Durles
its head in undue optimism and makes glowing predictions Tor
immediate future predicated wholly magnyng OF the
favorable symptoms to u anxiety by such process OF reason
ng but what is wanted general realization OF the oo
acles that must be met and overcome more than
ed prevalence of optimism founded only half truths
On the other hand attitude of unwarranted pesslmlsm
ankng system nnscally sound and that has already
proved its capaby withstand the shock of period OF
t test imposed many years. We know that ability
nation produce the materials which people need and
hich the world must has been dwarfed
We finally that our industrial ana business
M geared for production not only ample for our own needs Du
sufficiently large proportions to make export on consider
These are fundamental facts SO plain that they
aisinterpreed hard understand how, knowing the
foundation upon which business life rests to be as rgidy
secure as it is there can be any the final
II IS progressing no more aggardy than in 1908 and 1904
when passing through somewhat similar PERIOD or III
Recovery certain to be slow Where the artfcay smu-
opm makes his mistake that sezing upon few ia
yoTabe but quite natural events he seeks to make them the ba
s predictions that the final turn the road has come and
week month"; the difficulties into which busi
and industry have fallen will have lightly drfted away
1t primarily question of adjustment between the various
economic strucureAs has been point
these pages before portion of the population
arcuary that portion concerned with the production OF ag
commodehas had its purchasing power halved by
the commodity prices Finished products have shown
no decline The result has been that that portion OF the
population which has had its purchasing cut in two buy
only half much those products which have not declined
materially price Industrial sanation and unemployment
has been the inevitable consequence.
Although the process of bringing the price of farm products
and manufactured articles into equilibrium must be slow and
panu the fact does not that sit down.
fold hands and wait for mysterious set of forces to
make things normal again The result will most quickly
through combined efforts everyone and the
man and in this country who either receives
wages realizes and operates the basis that the unba
nced of industry regards compensation received by i'm
bodies of people must be the will the
real revival of business begin earnest 1t important
to think the proposition but utterly essential to act
upon II.
Portland husband hit his wife with hammer after she
had stayed late dangerous practice unless they
i insured mention the possibilities of retaliation.
Most every Pendeton business house will be justified in
sending representatives the trip to Grant county
unr people need to learn about that country.
These are the days when the townsmen vacation but
r Farmer gets satisfaction out of watching the combine
go ..
Looks like the county court have thorough audit
Of road and such move the people will applaud
rim long EXPECTED This company will be at the oregon