Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-10-02


Richmond Trust Company.
Richmond-her mnrch toward the
EnnI of 2-50,oOO popuIn ton In 1890;
nome contingencies and ObhtnclcS
Ia lie overcome.
40 Intelligent survey OF local op-
p0rtunitics and possibilities can bc
made without consideration Of con
ditions affecting the country IN ?
Whole. and the world at large. There
can he no such thing as Isolation"
for the United States: the world has
been brought into such close rela.
tOnship. that. like the physical body.
whatever affects ono member. or ma
ton. affects the entire body or all ma
tons.
The noble aud generous action by
the citizens OF Richmond during the
late war brought rcnown. The gen
ins and perseverance OF the men di
iecting her financial. industrial unI
mercantile enterprises brought pros
pcrity during the period between No
vcmbcr II. 1918 (Armistice Day). AMI
January /. 1920 Then carie the
realization that the nations across
the Atlantic. allied during the late
var. and Tho entente countries were
almost. IL not quite, hopclessly broke.
condition unprecedented In modern
times.
Adjustments BcnrtnE Fruit.
With this realization adjustments
mus; be made in many lines OF en-
deavor with changed emphasis These
adjustments have been in process row
'o' nearly Two ycary. and are begin
aims; TO bear fruit.
Optimism ia Il great fhcto- IN 90
curing results. but blind optimism
'"irc times rctards progress. as
quoted IN the Literary DScs, OF sep
t"mbcr -. \ survey by the Nation
~ surety Company. OF New York
covering every State in the Union
dis"i"s"d several obstacles. among
mem The economic collapse in mary
foreign Countries. the instability OF.
The raw material markets Throughout
me world the heavy Indebtedness Of
MANI producers and distributors: I'm
.4ahldatcd stocks Of various Kinds
A'Sh freight rates widespread I'M
'hrioEm:nt. and heavy corporation
aud other taxes"
n very pleasing picture o. 4 build
'ar may b. drawn "u paper. bu; TN.
'HiidinE cannot he constructed OF tho
ma Of paper Oh which the drawing
appears.
.is wise Frenchman r.ccn,I,
wrote. there Is one Fundamental prou-
'Sition which the world appears p,
toe trying 10 ignore or get around
ana ~ cannot do either. that is. "th,t
h'rhalcy cannot be attained unfit
values that have been DESTROYED hay.
pccn replaced"
VAN reduction OF the number a..
"''t" torpuscIcs In the human blood
I'M" phsSicai deterioration: only as
'hcy are replaced is there restoration
TO normal condition: SO. too. in ,an
economic body OF the world ia r.y:n
ration necessary.
Curative Remedies Suggested.
mere ar" many divergent views ne
J." me curative remedies for pr.go,,
CONDITIONS Various economical writ,
proclaim that high prices and
prosperity go hand In hand: tbn
Journal Of Commerce OF Now, Vol,
u"cS not iind proof OF this nhilosophy
~ experience. on the contrary i, save.
usincSS is. at It's soundeS, whom
prices arc as nearly normal or stoLle
as possible. and when, therefore. tho
"icments OF hazard is n, it's lowcst
cob" "
Again there are Inconsistencies +,
suggestions on one hand M, ~
NC hty. buy what YOU want. to bo,n
n'S'hcsS. over against this view 4,
INC suggestion OF economy and thrift,
"uS Only what YOU need: nut sor,,
F"ur earnings in savings banks th,t
more capital may be supplied Ia in
""s'r'aI enterprises. merchants. etc"
IL manifest that both suggestions
cannot be followed by tho save ;ndi
N.dual at the same time.
The reader is asking. what h., 81
tais got 10 do with Richmond h,vi,r
-"p'poo population i'm 1880? Tha wri,
or Is proud to think that Richnond
- an integral part OF this great coup-
ana 81 me world; he is proud To
'"'nH '!at thcre are people in every
-.
know OF Richmond on ,ha I.,. =,
many OF whom will be Interested 70
near ABOUT her growth in population
ana progress along other lines
Sacrifices Ncccssnry
al inns De true. then upon her
lies the obligation to have = clio
n. ~ ,ne sacrihces necessary TO replace
.nosc destroyed values mentioned. BY
me same token the people of this on
tire country have the same obI;eo-
lions upon them. What is implied nv
this? What is the attitude apne,r;nc
dominant? '''e
There is an old provcrbial saving
IL is n poor rule that Will not yvori,
both ways" If this he true. then tho
argument may begin ut either end or
The line. Concessions and sacri6ccs
must be the order Of the day. VOC
ana probably for many. many DAYS
pciorc the world can get back OH n
normally sound basis.
LABOR must make concessions: mca
men or wealth. fina ~ta! Institutions:
s'ockholders and directors of trans
Portation companies must make con-
less ohs; in fact, everybody from the
n'shest TO the lowlicst must forget
-, h''arious orgy of big profits and
"e wages obtaining during war and
Dc s"t'Shed with the proportionatc
,"w"rds that came To them prior 20
h"'idcrs OF homes for sale must not
UNDERTAKE. to profit. to the extent Of
:. per cent to % per cent as against
."e ~ per cent pront they claimed
10 prosper under prior to 1914.
inc manufacturer and retailer
centage Of profit.
Money must not he encouraged TO
command eXorbitant rates. either by
national legislation or nat Of Ecd-