Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1921-06-07
INDUSTRY NOW ON
UPCRADE,HOOVER
We've Turned The Cor
ner, Secretary Of
Commerce Saws
BY H: N. RICKEY

WASHINGTON, D. c., June 7. -
Il am convinced that We have fun
damentaly turned the corner"
This was the answer of Secretary
of Commerce Hoover to my .ques-
ton: Are things going to be bet
ter of worse industrially in Ameri-
ca?"
Because of his knowledge of Eu-
ropean conditions as well as the IN
innate touch with American bust
hess which his position gives him,
Hoover is probably as well if not
better qualifitd than any other man
in America in or out of office to
discuss present conditions and future
possibilities.
Continuing Mr. Hoover said ut
would be foolish not to acknowledge
frankly that we are in the midst Of
great economic difficulties. But it
is infinitely more foolish for any
one to think we will not grow out
of them.
"In some ways the situation is
more difficult than that following
the Civil War, because today our
economic machinery is more intricate
and less easy to adjust. Also we are
dealing with a world situation and
not a domestic situation alone.
Much In Our Favor
Great las our difficulties have
been and are, we have much upon
which to congratulate ourselves.
For the first time in our history
we have passed safely through COM
modify crisis without monetary pan
ic. For this we may thank the fed
eral reserve system, which has made
this possible.
Although we seem to have turned
the corner, there are many readjust-
ments to complete. Part of the bitter
ness of the situation arises from the
Inequalities in the progress of these
readjuGtments in the different walks
of life and different branches of in
dustry.
much of this readjustment can
be accomplished only with time and
patience. Economies of hard times
produce savings and. greater. eudea-,
vor. Shrinkage in values yields more
free capital. These savings in time
fertilize the soil for upward prog
reSs."
what are the chief impediments
to smooth movement of ireadjust-
ments?'' | asked Hoover.
There are many impediments,
was the answer, "and everyone will
set a different value and Importance
upon each of them
among those daily enumerated
are badly adjusted railway rates, ex-
cessive and badly adjusted taxes,
insufficient tariff, high wages, high
profits, high interest, restriction on
effort by labor and dozen others,
while our domestic recuperation is
sadly interlocked with the recovery of
Europe.
Parity OF Levels
1T is necessary that VIC approach
a parity of levels in profits, prices
and wages in different industries.
Some groups are able to put up
stronger resistance to reduction of
economic levels than others.
For instance, this resistance
against lower levels in the services
and comodities that the farmer must
buy in the face of his very much
lower returns is digging a grave for
the other industries"
Isn't there great lesson to be
drawn from this situation2" | asked.
There is" was the emphatic ans
wer. mo greater lesson can be
brought home to our people than that
we must not only get but give quid
pro quo in service.
mo particular economic fraction
of our population can long continue
securing ver-advantage without dis
aster to itself and the community
"Our whole economic and moral
problem, indeed our safety, our sat
isfaction and our happiness are bal
anced upon our practice of this basic
fundamental in business dealings"
What are some of THE encour-
aging signs in the readjustment?"
I asked.
There are many" was the ans
wer. MANY manufacturers and
wholesalers are making cuts in their
inventories that equal or exceed the
increases when we were on the up
- ANSJ AhCN dIe passing tAlelT sdNluSS
in raw material and labor on to the
next step in distribution.
Signs of Readjustment
Economically, the retailer is of
necessity the last of the chain to
make reimbursement and in some To-
calities and some lines he has been
less RESPONSIVE TO the necessity of
this readiustment than the situation
Gale for
"The processes of comnntition
work very sharply and promptly m
on the manufacturer and wholesaler
because the buyers are few and very
wiaa.
"ThRv do not react upon the rn-
taller because the public at large is
not so wise and is TOO inert to do
hat shopninp around for the best
bargains which ie necessary to set up
the processes of connection.
az helievo laNor j. WILLING to fa"n
further reduction in wages. if its
0acrifioes can be dnmonstrativelv
handed on in general reduction of