The New York herald., 1922-03-11
u. S REPORTS5SHOW
IMPROVED BUSINESS
Farmers i'm Better .COndi-
tion Than Six Months
Ago, Now Buying.
BANKS MORE LIBERAL
Industrial Activity. of Per-
manent Character Keeps
Gaining.
UNEMPLOYMENT is CUT
Extensive Building Operations
Under Way-America Leads
7
Race for Prosperity.
UNEMPLOYMENT is CUT
Special Dispatch TO THE NEW YORK HERALD
New York Herald Bureau.
Washington, ID. c., March 10.

Washington. ID. c., March TO-
Business Improvement of a perma-
nent character in practically all lines
Of trade and industry Of the United
States was noted to-day in reports to
the Department of Commerce, the
Federal Reserve Board and other Gov
ernment agencies The reports show
that spring is being ushered in with
a greater degree of confidence among
producers and consumers
Reports from the farming regions
are regarded as highly significant.
The farmers are classed as the largest
buyers of commodities. Their situa-
ton to-day is far stronger than 1t was
six months o. more ago. Most of the
Gle crop has been sold. They have felt
the beneficial effects of an increase IN
prices for many of their products.
Their confidence is raised In future
plans by assurance of larger buying
for foreign as well as domestic needs.
Added confidence is being given to
the farmers, officials said, by the
financing plans made on their behait
by the Government. A more noerai
attitude toward the farmers is being
shown by bankers in the agricultural
districts, upon advice given by OFFICIALS
of the Federal Reserve System tnat tne
agriculturists must be aided In con-
Quoting future operations
Farms Drawing Labor.
The farmers will do much to reduce
the size of the ranks of unemployed.
There is reported the steady drift from
cities to the farms of unskilled labor.
The farmers production costs this year
on labor account will be much lower
than last year. officials observed.
. Government students predict that busi-
ness this spring and summer VIII re-
ceive a stimulus from much larger
building operations of all kinds. Con-
tracts already let or plans projected
indicate large expenditures. Tnus Iar
plans call for the spending Of sums
double those expended in construction
activity in the same months last year.
As spring gets fully under way building
work, long delayed because of tight
money of high cost of material, Is
expected TO be greatly stimulated.
Extensive projects of the railroads are
reflected in some degree in better
demand for products in the steel and
iron industry. and officials declared
there are signs inicating greater activ-
ity in basic industries
Col. Arthur Woods, chairman OF tho
emergency unemployment committed
named by Secretary Hoover. said to-day
in a statement that the peak in uaem
ployment has been passed. Col. Wood.
said
There Is every reason to hope tha
the worst is over. Gratifying responss
of rrany localities to the appeal to theil
sense Of community responsibility ha'
solved many a local problem. Anything
which cities and towns can do TO al
vance public projects to give even tenn
porary employment will be of doubl
advantage and assistance"
| Reports from agencies over the United
States told of rapid absorption OF iabo
along with the resumption OF activity II
different commercial and industrial lines
Another sign of improved busines
| conditions was In a statement by thu
Post Office Department to-day annonnc
| ing an increase in deposits over with
| drawals in February. Many of tn
| larger post Offices OF the United state
reported healthy increases in deposits.
Bank CIearings Gain.
Tho total net deposits in postal saw
/ ings on March was St45,000,0 600. or
| fices with 100000 or more on deposi
showed the following gains in February
New York city. s513,252; Boston
| $44,s34: Brooklyn. s3s.26s; Chicago
s37 ,O9s Seattle. s3i,176.
There Is a 20 per cent. increase Il
bank clearings, a. growing volume 0
retail business by department store
I and increased production of passenge
automobiles. An increase in AUTOMOBILE
sales Is regarded az an infallible sigi
of better business by Government OBJ
\ servers. When luxury sales pick ~
business is growing better they contend
\ The increased coal production Is du'
| partially to the threat of strike, bu
the increase is in part due TO industrial
expansion. Normal production of btu
minous coal should be between 10000, ,00t
and 50.0c0,000 tons a month. Present
production averages about per cent
under the smaller figure. A year ago
however. industry was getting alons
with total production Of less thar
30 900. 0C0 tons q month.
Among the lines Of industry In which
an Increase Is showp in reports to Wash.
ington are those OF the manufacture OF
mems clothing, steel and iron and Their
products, flour, cotton textiles anc
building These industries are basic and
affect other lines
That the great nation wide buyers
strike il being abandoned is the conclii.
sion Of officials who watch the markets
Buying OF clothing. food and all com.
modities is less restricted now than a
few months ago. Cash Is flowing In
larger and larger quantities into the tills
Of theaters and other places OF amuse-
ment.
The United states Is closer TO actual
prosperity than any other country In the
world. Is the opinion Of Government Of