The Bozeman courier., 1921-09-14

ment of dividends earned during the
first six months Of 1921 on the theo-
ry that a more convenient season is !
coming. The amount of dividends
paid by these companies hitherto ap
proEimated $23,O00,0OO Man of
these are cumulative.
10 yoQ know, my friends, accord
ing to Prof. David Friday, that the
savings per day for 1920 of the great
United States of America were $31,-
10000. We, as a nation, have pass
ed up just one days saving in the
deferment OF all these dividends.
Some day if more capital were in
evidence activity would lie greater.
Only last week in the cable reports
there is the equivalent of nine bill
lion dollars in British banks await
ing investment Surely some of it
should come our way in payment of
the interest due on the four billions
we leaned Great Britain, so that we
could pay the many just claims of the
c0ldiers. But the financiers say we
have too much gold here already
more than 40 per cent of $7,700, ,O00,-
0OO, which is the gold stock of this
terrestrial sphere. Then. again, g.
445, 1927 jersons in the United States
have $5,186, 100000 in the savings
banks Of this country. Professor Fri
day says our savings-listen to what
I say--for the last six years or since
1915, have been $90,0OO,OO0,000, or
mere than the entire wealth Of the
country as accorded by the census Of
1900. How does the man who is
oessimistic reconcile these proven
facts?
The last report of the secretary of
| the treasury says 952,224 more per-
sons paid income taxes on $2,272,256,-
148 additional of income than in the
! previous years
Fer the last six months of 1921, g.
100000 more tons of anthracite have
been shipped than in the same period
in 1920.
Each month this year, according
to the Irving National bank, there
has been an increased consumption
Of silk, cotton and wool. A motor
company turned out 10000 cars in
! June the largest in the history of the
, company. Silk in storage on July l
, reached the lowest point since the
, Silk Association of America started
compiling the statistics. TIE total
, was 1881 bales, against 20,541 on
June l. Apparent consumption dur
ing June was the highest ever report
ed-30,S7 bales.
If there is all this money on hand
awaiting investment, why do the peo
No ro- rush to pick NJ the bargain:
that are lying around? A great bank
ing corporation in New York says tht
,, ten highest grade railroad bonds ART
>. selling at the lowest prices in forty
+ years. Just think of it.
n Of course, it is a question of lacl
y of confidence in the future. If ever,
"a vince one friend of his or hers tina
!, vince one friend of hs or hers tina
"a very great opportunities lie Jus
40 ahead of us and ask that that frien
ar tell two others the same thing an
have each of those two tell two otf
n ers, and so on, by arithmetic prOgreS
y sion, even if these were "dOg days
we would create such a momentum
- of confidence that we would be pr'
IS pared by being in a thoroughly il
q spired optimistic frame of mind
9 grapple, with more chance of success
g with any international problem ths
8 which we might be confronted.
2 1t is our duty to create an atmo
3 phere of confidence even in the
2 "dog days." for we possess the fir
q foundation that makes for perma
z ency. The bottom has been reache
q Wholesale cost of food is slowly r
q ing, showing that deflation in foo
3 stuffs is more than liquidated al
3 the increasing demand which lie
2 sened output is making itself felt q
q cording to the laws of economi
Xlwh'c ch no statute can defy.
q Increased efficiency and additio
z al production in every line are ws
3 ranted. The pent-up forces can
,Sx longer be maintained in statu on