Evening star. [volume] (Washington, D.C.) 1854-1972, 1921-01-02

The needs of the world are not sup
piled: the record crops of American
Farms and plantations are not SELL
ing at heart-breaking prices because
there is no demand for them.
The millions of dollars worth of
goods in warehouses because of can
celed orders are not lost Soon the
Industrial let-up Will reduce the sup
ply OF these same goods and the can
cellations will be quickly Cancelled.
We have passed through the after
math of the war and its imitation and
We have passed through one year of
strenuous defation. the salvation of
the patient. although the medicine
was mighty uncomfortable.
We are on the threshold Of the new
year. The best minds of this nation
/ that have come up for solution. they
are consulting. planning. and ere the
year is many days old the result of
! their efforts should show, and plainly.
too.
When the troubled times of 1920
started. the railroads were more or
less the sore spot. The term frozen
as applied to credit, originated in the
vast volume of freight in transit that
the railroads could not move.
Railroads FunctfOning.
This sore spot has been removed
They moved the largest tonnage in
Itheir career in 1920, and they have.
/ through the Esch- Cummins law, be-
i come practically h-supporting-that
| is the great majority-some few are
| hopelessly involved with burden
| of securities that will prevent rehab-
1 ifftation.
J II you but drop North Dakota from
the resume. the banks of the country
&; have passed through the year with
nylng colors, have conserved their re-
: sources, not a national bank closing,
/; they have stood the gaff deep and
! driven hard.
New industries. pushed by the WON
f6erful demand of 1880. speeded up
to meet it. and then when it fell of
! had to take the consequences Of short
/ sightedness and liquidate at loss, but
| they, in common with manufacturers
and merchants in old and stable lines,
! have taken their medicine, and stand
i on the threshold of the new year re-
Y habilitated and ready to make the best
| of its favorable developments. OF
| which economic and financial students
| are confident
To Aid Foreign Trade.
Through the medium Of the Ameri.
can Bankers Association there will
come into being a corporation having
ls100. 100000 capital and a one-billion.
| dollar loaning power, berg organized
, for the express purpose Of helping the
| nations Of the world to buy our prod
| ucts and make a market for our sur
| plus productions. which would not be
i so heavy were Germany, Austria and
! the other unfortunate European coun.
tries able to purchase the food they sc
lSadly need.
~ That is a favorable movement.
The railroads have discovered thai
! tnsy can obtain practically all needed
credit for the purchase of equipment
and they need equipment by the mil.
lions of dollars worth. A year age
a surplus car wheel The government
had to dig deep and often to keer
them running.
Also favorable happening.
VIII BE Generous.
Bankers have expressed desire anc
tSvilhngness to be generous in the
matter of credit for needful purposes
tSpeculators on Wall street have beer
badly burned. many have lost theil
all, and the speculative movement IL
stocks during 1921 will be on a mucf
moro moderate scale. involving the
use of less money and leaving more
for the legitimate demand of trade
and commerce.
This also may be said to be encour.
aging.
We are on the verge OF peace witt
Germany, and with the opening q
trade much of our surplus will b.
consumed, the Foreign Finance Cor.
fporatton assisting.
The problem Of our great agricul.
tural population. unfortunate through
1he awful slump in prices for grain
cotton, etc. will be less burdensome
aand their buying power will, to some
Fxtent. be restored when the congress.