Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1922-05-18
THE WHEELS OF INDUSTRY
ARE MOVING

|. The Railroads are ordering mat
eral to greater extent than for
good many years. Building contact
ors are finding an increasing and
almost an incessant demand for their
work. Building materials are tend
4 ing to higher prices and to an in
creasing scarcity Of supply. The de-
mand for lumber grows apace and
the trend Of prices is upward. In
some sections the supply of skilled
labor is scarcely equal to the demand
though there is still large amount
of unskilled labor out of employment.
Highway Improvement is proceed.
ing at a rate which most soon tax
the facilities Of highway contractors
and sthe people who supply road
building equipment With the GER
tainty that the country has entered
upon an era Of highway building Of
which as yet we have seen only the
beginning, there is a vast volume of
business ahead for highway workers.
The demand for pig iron, long dor
mant TO such extent that the indus
try seemed almost dead, is Increasing
and the advance Of steel and pig iron
has ot lessened the demand for these
materials. Indeed, people always
buy on a rising market and cease to
buy on declining market. No soon
err had the country come to full
realization Of the fact announced
many months ago by the Manufact-
urers Record that the entire financial
policy Of the country had been re-
versed, and that President Harding's
boast that lowering discount rates
and thus stimulating the credit fac
ilities of the country was one of the
most important actions Of his admin
istration, than the far-seeing people
Of the country began to get ready for
business.
With every decrease in interest
rates there has come an advance in
the price Of government bonds and in
the general security market, fulfill
ing in that respect every statement
which the manufacturers Record has
made during the past two years The
demand for new securities has been
50 tremendous asS % astonish the
countrx<and show the enormous buy
ing p0*&r OF the American people.
Co-incident with the lowering Of
discount rates and the advance in the
stock and bond market has come a
oetterment in farm conditions with
higherprices foragricultural products
The War Finance Corporation has
continued its active operation of
lending money to assist farmers and
livestock raisers, and in many cases
the very fact that this corporation
prepared to advance money for
these purposes has caused local banks
to loosen up in their credits, and thus
the money actually loaned by the War
Finance Corporation has been only
one Of thes benefits derived from it's
operations.
Business is not yet by any means
at full tide, but it is moving forward
rapidly, and when it reaches full tide
every transportation facility in the
country will be heavily overtaxed
with larger volume of freight than
can be handled, and the manufactur
ing interests and the buildings and
construction work Of the country will
likewise be fully taxed.
All Of this condition can be FASTENED
by lowering Of freight rates, which
would stimulate the volume of traffic
exactly as the lowering Of discount
rates stimulate the revival Of conf
dence and building operations. High
discount rates and high freight rates
have been burden on business.
TIE tide has turned. The surge is
on. But if we would reap full
measure Of prosperity we must hast
en- the passage of a tariff bill; hasten
the plans for better financing of the
agricultural intrests on safer and
broader foundation than agriculture
has ever had before; hasten the low
ering Of freight and passenger rates.
And when these things have been ac-
complished we shall go forward with
a stride of seven league boots to a
prosperity which will furnish profit
able employment for the day laborer
and the mechanic, for the capital Of
the country and for profitable pro-
duction in agriculture, in manufac-
lures and in mineral operations.
Glory be, change has come, and
the wheels are moving!