The midland journal. (Rising Sun, Md.) 1885-1947, 1921-01-07
I'D 'of
| Future
|EoDoRE (. BURTON

EoDoRE {. BURTON
roper time for cooperation,
ration should be the watch
ir business here in America.
he had too much legislation,
theroists at work on it, who
It the way business can sue
BY ruthless competition. Many
he been passed with this OBJ
view.
naturally will be competition.
enable amount of competition
Eice is all right. There should
Us and regulations to prevent
sive combinations, but co-opera-
hould be the watchword of the
!.
ERE was an illustration of what
happen which occurred at the
of the armistice. Buyers of iron
steel waited for lower prices ana
hufacturers diminished production.
"a lite while prices were higher than
efore. That very condition would
likely intervene if there is a general
holding or in the making of purchases.
Some say that things are going to
e all right after the first of January.
Well i hope so, but this present con-
hilton OF prices is more than bank
hing condition. 1t cannot be cured at
lower rates of money. 1t touches the
whole Industrial and commercial fab
ric, all the ramifcations of trade. l
hope, and in fact expect, a very mater
ial Improvement after January first.
but do not think it will do for US to
be too sanguine.
The uestion that interests everybody
is, Have we reached the bottom?"
We have been falling for some time,
an dit does seem the turn must occur
soon, but it will be a long process be-
fore we get back to the conditions as
they were in the early years of the
war, or in 1912. l do not say that
necessarily it will be years, but at least
it will be months.
What are some of the hopeful signs
First, in facing any financial catas-
trophe we know more than we used to.
We can make our calculations more
wisely. The very idea of cooperation
has helped the situation. If there is
any good that has been done by some
of these big organizations, it Is that
they can forecast the future. They
are like men that stand on COM
manding eminence. They can see
what is coming. They can slow up a
bit :.1thcy are manufacturing too fast,
az ldapt supply to demand.
ri Sign Is Seen In Good Banking
System
IA we have abetter banking sys-
yeih. When we look back on what
happened before the Vreeland-Aldrich
Act Of 1908, it is amazing that this
country could ever have gone along,
in the hating way that it did, with a
currency system absolutely lacking in
Elasticity.
Now, we have not only that law,
which is practically superseded, but
the Federal Reserve law, which began
functioning in 1914. l concede there
is tremendou power which rests in
that Federal Reserve Board which
might be abused, but l trust their au-
thority will be used wisely, and that is
our great bulwark in time of storm.
Then again, demand is pitched on
a high plane. 1t will continue high.
People can afford to buy for years to
come. A good many will have to
economic, but the first point of attack
in any period, when large expendi'
ture holds sway, is mere personal
adornment
Even in this depression the depart
.ment stores report their sales were
more in October and in November than
last year. Thtre is a limit to the time
when a consumer will hold off in the
expectation of lower prices.
Then, again, we have a nassured
place in the colossal resources of this
country, SO that we are the favored
people 6ft,the world. We can adjust
the methods and means to meet the
situation in a way we could not be
fore.