Every evening, Wilmington daily commercial., 1921-02-11
RISINESS OPTIMISM.

note Of optimism IS being sound
ed throughout the country today by
trained Observers who say that AL signs
point 10 an upward trend in business,
Deductions made from facts which con
front US indicate that the worst part Of
the business depression has been pass
ed We have hit the bottom OF the
vol. and there Is no way to 80 but up
Tho liquidation 81 credits has been I'm
proved Commodities are being moved
in greater quantities than III any time
during the LAST six months. There is .
steady read'us,ment OF prices 70 nor
ual levels and the danger OF . too
Quick dcfation IS passing. Many 81
the larger manufacturing plants are re-
Stunning business. and othere. which
Rad temporarily suspended operations.
are rssumlag work on a psrt-time
basis
Guy Emerson. Vice President OF the
National Bank of Commerce. New
York city. who has devoted much
tnlc 20 3 close study OF our business
conditions. said yesterday that There
Wi De no boom in the near future in
either domestic or foreign trade: but it
shauld not be forgot that the total Of
The nations normal annual retail trade
has been estimated al more than 100
tlnon dollar. - total wholesale trade
At tVlce This suIn. These figures repre-
sen. q Iuble demand for food. cloth
.le transportation. housing and a great
ariety of the necessities and conven-
-nces ~ lifc This demand is an out
LAY ding factor il appraising the
soundness = the business situatlon
during 1921 is effect may not be
fully manifest this nenth or next
Tut !ts powerful influence cannot be
Ions delayed.
The business world has been suffer
Ing for some weeks from a species OF
fright which 70 a certain extent
paralyzes thought and Judgment. We
have been afraid Of the future. and
the least straw floating in the trade
winds has been grasped without ascer-
tanning whether there WIS any special
puff hind i making fl blow one way
or the other Because Indications do
not point TO a resumption of boom
days. we have been depressed. An an
,hat he nation as D whole has been
suffering from the effect OF too much
booming The physical law which
say that ali which goes up must
come down operates also Ia the com
n4ercial held Boom times are over.
They left bchlnd them economic and
social hysierla What We need now
.nnAtion OF finance or credit
i i not believed that seven lean
year, ar ahead OF US.
Business vi mir the ext f,.w years
mas not be 50 great as il was during
The wear following the signing of the I
armistice But 1t will bc more steady.
Thor may rot bc AZ many new enter
prises organized. but there viii be less
failures. Money viii not be made as
quickly IN certain industries, but il
Will be made in a steady stream, with I
no sudden stoppage Of operations
Credit will not be as easy" as it was
& year ago. but il viii be forthcoming I
for all projects which promise a future.
There viii b. little financing Of plans
which cali for a quick cleanup and .
then cessation Of work but industries
which will supply staple commodities
win be encouraged.
We've had enough Of boom times,
with their attendant evils. All Of us
viii rejoice al the resumption Of nor
NAL times. The sign-posts along the
business road point that way
Tie undiscriminating Guinea pig has