The Washington times., 1922-07-01
FINANCE.
AND
.RUsiNEss. M
BY d. @. FORBES.

ninety-nine men in every hundred
see only with their eyes. The hun.
dredth sees also with his brain.
, Yesterday ! enjoyed chat with
q man who has been going through
the South and Central West seeing
things with his brain-and listening
attentively with his ears.
Charles Carson, formerly an Of.
ficer and now a trustee Of the Van
derbilt University at Nashville. who
is now one of the right-hand men of
the Chemical National Bank, Of New
York. being director of public rela.
uons OF that fine old bank, mas the
reputation of knowing as many peo-
pie and places as any man north or
south of the Dixie line.
l buttonholed him on his return
from his long investigatory tour and
wormed out Of him hts views:
ITS always refreshing and irspir-
ing to visit the heart OF America.
President Wilbur, of Leland stan
ford, Jr.. University. tells about
friend who moved to New York from
California, and once each year had
To return to the West to get his Wis.
ion stretched.
People in the great agricultural
West and South are looking better
and feeling better than they were
even six months ago.
I'm business, as in everything,
mental attitude counts for a good
deal.
If farmers, bankers, merchants
and business MEN generally are feel
ing better. then business becomes
better.
''All the statistics in the world
can't boost business il the people are
downhearted.
Out in Texas especially they have
a sane mental attitude. but / confess
I'm fool about Texas.
The people themselves are-and
tell you so. They are full of energy
and vision. and the States natural
resources seem unlimited. Its husi-
ness possibilities haven't been
scratched.
Floods. droughts. poor crops and
bad prices may come, but the people
keep fighting and boosting.
George Bailey, the philosopher
editor of the Houston Post, says he
can boost Texas with a clear cen
science - that you can't lie about
Texas: II it isn't true today. 1t will
he tomorrow, SO what's the differ.
ence?s
Agricultural relationships to bust.
ness are fundamental. The farmers
have been having a hard time-I
mean the farmer who farms, not
the farmer who Is in politics.
The total volume OF farm prod.
ucts in 1921 was only Z per cent be-
low 1919. but the actual purchasing
power OF the farmer in 1921 was 4S
per cent below what IL WAS in 1919.
I'm West Texas a farmer who
raises onions sold his crop last year
for 1925. The freight was $3.50.
After all expenses OF gathering.
marketing. shipping. etc. the farm
er had S125 left for his year 's work.
But freight rates have been reduced.
Labor conditions are more favorable.
Prices in general are less out Of
joint.
Practically all farm products
cludes cotton. And crops generally
West, while destructive in certain
cases. have produced growing crops
and unusually fine grass in the
gr~ ..lg and cattle sections.
In the Southern States. there is
now greater diversification both of
crops and industry. In Greenville.
Tenn. the tobacco industry was
comparatively unknown short
time ago. yet last year Greenville
marketed approximately four mil
lion pounds of hurley tobacco, and
plans this year for ten or twelve
million pounds. Consequently cities
like Nashville move steadily for
ward all the time.
George Morris, editor Of the Mem.
phis News Scimitar, says that one
OF the most encouraging signs in
this section is that the farmers have
stopped trying to farm by telephone
and are moving hack to the farm.
II heard of an interesting incident
at Oklahoma City. A farmer ap.
piled for a loan and proposed to
mortgage his crop, his machinery.
his live stock, his farm, everything
he had. The banker refused all sug-
gested collateral. but finally said he
would make a substantial loan II
the farmer would put up as col.
lateral the hind wheels of his auto
mobile.
There has been recently a rapid
and sustained growth in building,
especially medium-priced residences.
II 1919 found the American people
short about one million homes, they
seem to be trying to catch up this
year. The value Of building per-
mits throughout the country has in
creased about 135 per cent over the
low level Of 1921, mostly in the resi-
Dental class. This was especially
noticeable in Texas. Houston has
blocks of substantial, attractive
homes where there was nothing but
acreage two years ago. This marked
increase In building Is reflected in
the lumber market. Men like P. l..
Dantzler, president OF l.. n. Dantz-
Ter Lumber Cor,p@nv. New Orleans,
and E. A. Frost. president Of the
Frost-Johnson Lumber Company,
Shreveport. say they are having a
very busy season.
"A great many banks that were in
debt a year ago are now out. Many
more, even in the hardest hit sec
tions Ray they will ha o,it thia f,u