Greene County herald. (Leakesville, Miss.) 1898-current, 1921-01-21
FOOTE REVIEWS SITUATION.
Successful Hattieshurg FinancIer Gives
Views By Request To Local Paper.
Believes Lessons of Business
ResdIustments Valuable to
This Section.
From H~attiesburg DAILY American.

MT. T. w. rOoto Vi buo rlrot IVA
tional Bank Of H~attiesburg, said:
THE year 1920 closed with the
principal commodities of the nation,
and Of this section. at the lowest val
ues for the u months period. The
highest values OF commodities in
the history of this country was reach
ed in March 1920. after which time
there was a gradual decline until
September, when markets began to
break sharply and declines became
spectacular, the recessions exceed
ing anything that ever occurred be-
fore in so short a time as ninety
days.
The descent was made safely and
America, as a whole, is sound eco
nomicallv, the great prosperity and
good faith of all classes having made
it possible to climb down without de-
moralization Of loss of confidence.
THE Piney Woods Section is pc
culiarlv fortunate and in more con-
sistent financial condition thar any
other part Of the nation. This state
ment is not mere local pride and nn-
warranted praise OF our own people.
1t is IA fact borne o1t and proved by
statistics.
STRONG uATTIEsCURG SHOWING.
The individual deposits of the
Hattiesburg bank declined only 1872
All for the year, as shown by the
bank statements of December 81, 1919
and December 81, 1920. which is a
strong and unusual showing, under
the circumstances. The indebted
ness of our people is far less in pro-
portion to assets than ever before,
and they have large stores Of unmar-
keted products against which there
is no debt.
Our lumber industry has been
highly prosperous for a long time
, and continued so until September
1920, and after that time a large
amount OF lumber was shipped at
old prices. Our agricultural inter
/, ests suffered greatly, but farming in
this section, while essentially impor-
tant and close to the hearts of all
citizens, nevertheless does not en-
ploy but a fraction of the capital de-
voted to business by our peop'e, al d
that is the reason. coupled with the
prosperity Of lumber, why our sec
tion at this time occupies such a
strong position.
RETURN TIC THRIFT.
1t is gratifying that the dspres-
sion does not find our people oppres-
sed and suffering credit difficulties.
We have before us, however, real
business problems and now W are
called upon tt exercise re. | manhood
and w~omanhood to safegu nd what
we have.and make further progress.
But our people have sufficient char
acter, business integrity and enter
prise to meet the situation and we
are not fearful of the future OF the
Piney Woods. Our people can deny
themselves.
This year must, by the very a
ture of conditions in this country,
and throughout the world. be a pc
riod devoted to reorganization of
business, both pubic and private,
and the people must return, for a
while at least, to their previous hab-
It's of thrift and individual care in
all the responsibilities OF life. We
have enjoyed unprecedented pros
perity, gale tysand personal liberty,
and we can well afford t. return to
a sober view of life's duties and make
sacrifices, if need be, somewhat in
proportion to the exceptional advan-
tages we have enjoyed.
MUST INCREASE PRODUCTION
Good business opportunities may
soon return, but to that end, a r
should be exercised to devote in
creased energies to production being
careful not to continue to overpro-
duce markets already burdened and
congested with lumber and cotton.
Greater industry, if possible should
be aroused, a lai ge part of which can
be probably employed in doing more
for ourselves and producing much
that we now buy.
ttT rnat n rood forooar. aittzan IN