Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1921-08-31
Pillars of Faith.

we think particularly the South
have been through an ordeal during
the past twelve months that many
will look upon in future years as a
nightmare. Yet all of us know that
we of America have a great country
with unlimited resources and that
we are emerging from the period OF
depression surely, even though slow
ly.
w have a banking system, which
should be and is, the greatest in the
misused and become a scourge
on our people, instead of a help. How
ever, the Federal Reserve system,
with different men at the head OF
the treasury department, is now be-
ginning to function even as it should
have functioned, many months ago
to prevent the calamity that occurred.
After all is said and after we have
lamented upon our i'll luck, we must
concede even then that we are che
greatest and most favored country
on earth. We need confidence in bus
mess, confidence in the future OF
u country and we are presenting
this morning IA points of a platform
for faith in the economical, CONNER
cial, agricultural and industrial fu-
ture of cur country. We have caught
fits, it is true, but everything has
gone to the demnition bow vows
and we are coming back strong. The
Federal. Reserve Bank did all it could
to break the back of the country
and to wreck business but now the
turn for better has come and we
have much cause for optimism.
Here are the Pillars of Faith, the
IA points of optimism which all Of
us should take to our business with
us in the morning and reflect upon
in the, evening hours. They will do
us good and will make us proud that
we are Americans. "
I've are the richest country
on the face of the earth. Value $250,st
OOO,oOO,ooo.
I've have greater possibilities
of internal expansion than any of
the older nations-millions of square
miles still undeveloped.
3.-We can come nearer being
self-contained than any other nation
excepting Russia with our food prod
ucts, coal, iron, timber, cotton, wool
and other raw materials.
1--WE have the soundest and at
the same time most elastic banking
system.
5.-We have cancelled most of
our billions of foreign indebtedness
and set against it a credit of almost
twenty billion dollars.
6.-We own more than a third of
the worlds gold.
I've are learning by adversely
the proper methods of merchandise
selling what the market de-
mands, instead of what the producer
wants to get rid of.
8.-We ara learning foreign trade
methods and are doubling u nor
NAL export business.
9.-Our manufacturers are study.
ing intensive production methods with.
the result that now over ten per cent
of them know the costs and conse-i
quently the price at which they can
afford to sell. This is gradually elm
mating ignorant cut-throat competi-
ton.
10.-Politicians are realizing that
their paternalistic nostrums are not
panaceas, and that their foolish ex-
perimentations have added illimitably
to the expenses of the people. They
are now seeking ways of retiring
from the field without carrying the
odium of their wreckage with them.
11.-Liquidation of most lines
have come to the rock bottom. These.
few still remaining will soon follow
suit or get lost in the shuttle.
1--we are turning to the utiliza-
ton Of our water power in substitu-
ton for mined fuels which will even
tually greatly cheaper manufacturing
processes.
13.-Thrift seems to be one of the
remaining virtues we learned during
the war. Savings accounts are still