Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20

of 1921 will be made with less OK
pense than any crop within the pas:
nve or SIX years; and At present prices
while The 1920 crops arc bringing
him in debt. Eastern Carolina viii
pay, every cent of indebtedness /!
lections now will be disastrous-,he
1920 crop of tobacco will show good
| profits If held Till this time next year.
| Bankers ana merchants will has,
| renew paper for the next six months.
! sum up the situation by snyins; that
there is ahead of MS more conserva-
tive business dealings and less spend :
| ing. and after few years We will
look back TO the last few months
blessing i'm Disguise"
Now. one more--a gentleman who
has unusual opportunity 10 know the
| situation:
ITO get below the surface. we find
our section short only in what we
term liquid assets, caused by the de-
preston of our two principal money
crops-cotton and tobacco. From the
sale OF thcSe.w w. can only pay about
90 per cent-thc balance we Will have
Credits for 1921, including the carry
over. should be ut least 20 per cent
less ;han in fo2o. The reduction in
acreage. plus the Increased demand
lower cost of production. should
carry US very near a complete set
tlement by the end of 1921. We have
IL.
our debts many times-its liquid as
sets we lack ut This time. Banks
and merchants viii insist on reduced
acreage. Fertilizer demands will he
reduced 40 or 80 per cent-farining
implements and supplies viii he re-
duccd in proportion. |. personally.
believe We have passed the turn in
the road. ana will soon approach "a
point from which We can see some
distance ahead"
Financing our foreign tradc--stcps
80 N liza tn Of
nan!ca-ard che revival of tn. War
Finance Corporation are expected 10
help the situation.
No Solution Mt Present.
can sec no solution until liquidation
has proceeded toa point where money
VIII seek investment at reaSouab:e
rates. We must have need for less
morey-we must make u dollar do
more work. so as,to free some OF our
noi.arS for rev things. This means
lover ices for what we eat and
wear ~ lower wages for what we
90. his can be brought about. the
3.7cOON0 people who are out OF work
may find jobs by the rropcniug OF
our mills and on new public aud pri-
waite construction, fear. however
that this Will be a much slower pro-
cess e.. man W. now anticipatc. There
-, oinereni lines, aud this makes for
discomfort and unwiIlingness OF
others to work for less. | am no,
advocating lower wageS-I am simD-
ly trying 10 analyze car present con
dition and trying to guess WHAT il
ahead ,,:. OF us After this winter Of
hisn iGeI cost Is passed. and when
stocks OF high priced goods are re-
duccd ara replaced with goods a,
much lower prices. and consumers
IRE convinced that neccssaries are
neein To adiGs: the wage scale ac-
cord!ngly We must admit that there
. i,,r sun many adjustment" to be made
IN prices. y farmer is not going 10
ana corn at from one-fourth to one
nan what he got for it last year.
ana buy merchandise n; the same
rsnc", or near the same price. he paid
tor IL last year This is just a com
MOI, ~. sense View 10 take of 1t. and
" We IVY, WI sec VIVA; is ahead of us Just
conclus!cn. Mos; OF the GOD m"ro
..ihanls nave seen lit, and are meeting
'Ae situation.
:, Thr!tt-how we have preached il,
HOW II has been ignored, Ii is sad
10 ihlnk what might have been. II
We as a people had learned the les
5on nciofc Inc war and practiced Il
during ana since. we woulG have Ieen
a nation OF capitalists \ woman haze
purchased Sufficient Investments from
us rs within the last few days to bring
the r 'H " IF bar im ,o Of over 500
hcr needle in hcr own home
think we VIII have much better
BUSINESS THIS spring and that wo Viii
ital. -"
confess do not SOC mue,, chance
Tor = Chcap or reasonably choau
money this year. ana ] do not be-
hcNe there can be much revival i'm
business until We can get money to
nhanc@ business at fair rates. Tho
government; must stop using our corr,
m.rcia! borrowing facilities.
Taxation, national and local. mus. be
HWJus'rH ana the burden frightened. w.
nHN' not Try TO pay our government
prot SO 'aSt. 30 YOU realize that Wa
l'a!d 40 p"T cent OF our war rNpcu6i-
tArcSftcXocpt loans To allicsD ~ tax
atI"n Thc revision of our tax laws
Ge"nward is certainly ahead of us
Nhat We all must do is TO get down
70 the real, fashioned American
raSi. of hard work and economy an
every department. of life cut 81.
COSTS, produce moro. save more. stand
ioErincr .'ud w"rH out oar own SAL
Walton without expecting the govern
men; 10 u" II for lis.
We do these things We should
he happy. and willing 10 meet what;
eyer Is ahcnd OF us Tx. tn, real !nrn
that our fathers and furefatAe.s were.