The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-25
Christmas Buying Shows
People Confident of
Better Business.
RAW MATERIALS
PLENTIFUL NOW
Limitations Conference
Expected to Divert
Billions to Trade.

NEW YORK. Dec. 24.-Leadins
bankers of the country tonight pre-
dicted a prosperous 1922
First signs that prosperity is at
hand were shown in increased
Christmas buying, which was re-
ported from every section of the
country. This buying encourages
r the belief that the people have con-
fidence in better business. more pro-
duction. and. consequently. cheaper
ling.
Bankers Are Optimistic.
The bankers in their statements
forecast gradual improvements in
basic industries such as steel. rub
Der. textiles. shoes and mining.
An accumulation or raw mare-
risls, the National Bank of Com
a supply Of cheap food and cloth
ing and real prosperity has never
rested on any other basis"
At the same time the bankers
warned against overoptimism. The
q
see as a stimulus to prosperity.
However. they are almost unani-
nous in the belief that there must
he a new adjustment of taxes and
measures to assist an Increase In
foreign trade.
The disarmament conference at
Washington promises to divert bill
lions Of dollars from destructive ac-
tivity to constructive industry and
the outlook for business and finance
in the United States in 1922 is en-
,ouraging, says Thomas b. Nc
Adams. president OF the American
Bankers Association and vice pres
ident OF the Merchants National
I;sik. Richmond. Va
One extremely good sign ne
continues. lis the growth OF the
spi-it OF economy throughout the
country
business is better. and while
sc;i,.lcks arc to be expected at iT-
regular intervals, 1879 should show
Srr- Improvement over Ine corre-
Sponsiug period this year. This
however. will BE- dependent in a
lar.-e part. ubOn solution OF our
foreign trade problems. and as the
more threatening points in the IN
teruatiouaI situation have been ad-
justed-" III. -,
proving'' is the opinion OF J. Ar
thur House. president of the trust
rompany division ~ the American
gankers' Association and president
OF the Guardian Savings ana Trus'
Company. Cleveland.
THE unsettled. chaotic conditions
tn finance and politics IN GIrore
IA yoralle exchange
situation existing not only in Eu-
rome. but in all countries with
which the United States transac-s
business. must be remedied."
Ration Reached Long Ago.
House, reporting on present con-
dttions in the great Ohio steel. coal
mining and rubber manufacturing
plants, also says;
There is widespread feeling
among bankers, manufacturers and
dealers that the bottom was
reached some months ago and that
therefore. we may now expect a
gradual resumption in all import
ant lines of industry and finance.
John II. Puelicher, first vice pres
ident Of the American Bankers AS
sociation and president OF the Ma;
shall and Ilsely Bank, Milwaukee
sneakinr for his district, says:
'Textile manufacturers, especial
Iv hosiery, made an early and rapid
recovery from depression. The
trend in shoe manufacturing mas
been upward Automobile parts and
accessories have had a better year
than was expected"
conditions in the United states
todav Indicate that the year 1922
as whole will be more satisfac'
tory TO business than the year Jast
ended" is the opinion expressed by
the National Bank of Comme-ce
New York. Business men sho aid
NOT fear to make plans for the New
Year, but they should plan with
care and conservatism, and with
constant effort toward the reduc-
tfon of costs