Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-02
CHICAGO VIEW
CONFUSES, But
BASIS is SOUND
Spillane Says Business
Has Seen It's Dark
est Days.
LINKED TO FARMS
Buys Most From the
Country Folk and
Sells Them Most.
special to Ind.ana Daily Times
and Philadelphia Public Ledger.

BY RICHARD sPILLANE.
CHICAGO, ILL, Sept "A city
so huge as Chicago, so sharp in some
of it's contrasts and having so many
diverse industries, some fairly ac-
tive, some dreadfully depressed and
few up to normal, presents difficult
field for any one to gauge as whole.
But unquestionably, conditions are
improving. They are improving at
the base. The evidences of better
ment will be more apparent months
hence than this month or next
month, for in some lines Of business
the situation is trying and painful
and seemingly getting worse.
The great outstanding and re-
assuring feature is the change for
the better on the farm. 1t is through
Chicago that the bulk of the products
of the farm flow. It is by Chicago
that the farm is financed to a con-
siderable degree. 1t is from Chicago
that the farm gets most Of its sup
plies.
A few months ago it appeared as if the
farmer would not get enough from his
crops this year to cover his costs. To-
day he is assured of some proft-not
>much-but profit nevertheless. 1t will
take another crop to get him on his feet
but his accomplishment Of this year and
the meeting Of his obligations this year,
with, possibly, a slight reduction Of his
debts, makes for wider credit than he
looked fer from the bankers and a broad
er purchasing power.
This sudden change in the farm situa-
tion is Of far greater importance than
most persons appreciate. The farm is
the largest Of all industries. All others
depend upon it to Il degree.
EARAER HAS HAD
TOUCH OF HIGH LIFE.
The farm has been through some
Kaleidoscope changes in the last few
years and the farmer has had his touch
Of high life When, in the war period, it
was necessary to get the largest possible
production from the American farm in
order to feed Europe, the fixing of prices
Of grain by the Government gave a great
stimulus to agriculture. The farmer, for
the first time, saw big profits. II time
he had to modify. his views when farm
labor demanded unheard OF wages and
costs Of everything for the farm went
sky-high, but, nevertheless, he had his
big profits. In this great agricultural
belt OF the Middle West the sudden
transition from low to high price for farm
products led to the idea they never would
come down and a speculation in farm
property developed such, happily, as
haov g.
worth 5000 to $500 an acre soaring TO
s400 or $500 or more, sometimes passing
through two or three hands on the way
up and. in a few instances. through six
Or eight or even ten and occasionally
being bought back at the top price by
The original owner who had come to the
belief that he was fool In the first
instance, to sell.
-. Country banks are loaded up with
tarm sale papers. Together with the
boom in farm lands the farmers bought
many things he long had craved but dIo
not need. Possibly, too, he took things
easy as his money seemed to be coming
easy.
eWTNDLERS ALSO
SET IN THEIR WORK.
Coincident with the skyrocketing OF
farm land values the farming territory
was invaded by an army OF human
loeusts IN the form Of oil stoves statesmen
and other hyby-night swindlers. The
foremost banker in the Middle West de-
FLARES this swindle aggregated hundreds
Of millions of dollars.
In Iowa there was another game. This
was packing house project to be owned,
directed and operated for the profit or
the farmers. This took many millions
And when the farmers was plucked by
the sharpers the Government control OF
prices was removed and, soon there
efter the prices went down as If they
were shot down
The whole experience has been bitter
indeed. but the farm today has been
Hquidated as has no other industry in
America The agriculturist is down to
mother earth.
This year nature has smiled. All crops
except oats, are pretty good. The prices
are fair. The farmer will have to prac-
tice rigid economies to clear up the debts
he contracted through high prices for
supplies as against low prices for pr I'd
pets, but he has control OF his affair
now and he IS working his way out
And no good farmer will lack credit
This is said On authority of the bank
srs.
The farm is back to earth.
GETS FARM BUSINESS
COMING AND GOING.
Chicago gets the farm business going
and coming. The volume of this busi-
ness is tremendous. 1t will not be par
ticularly big as to purchases this fall or
winter or next spring, but it will be
much larger than was expected. There
you have solid foundation for optimism
as to the outlook in this wonder city of
the Middle West
Now as to labor. If the records Of the
local authorities of Chicago are accepted
(and surely there is no better proof OBJ
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