The Washington times., 1922-10-22
BRIGHT FUTURE
Of SOUTH seen
BY VANDERBILT
Industry Going Ahead and un-
employment Rapidly Be-
ing AIIeviatsd.
CROPS sURPAss RECORD
Railroads Not Much Hit by
Strike; Credits for Farm
ers Abundant.
5y CORNELIUS VANDERBILT. Jr
copyriEht BY c. v. Newspaper Service.

5y CORNELIUS VANDERBILT, Jr
coD'r'sh' BY c. y; XyS;,!s Newspaper Service
NASHVILLE. Tenn, Oct. 21.-
The confident air with which the
Southern business man regards
the. change for the better in the
economic situation throughout the
country is indeed inspiring to note.
For the past few days I have
been travelling through the South
ern States Investigating business,
politics and trade, and have
noted with pleasure that the South
believes the economic situation,
clouded since mid-war days, Is
Frightening up.
Production Is Heavy.
Industry generally Ia marking up
the best production record made
since the period Of depression. and
Unemployment appears to be rapidly
becoming alleviated.
Despite the severe drought effec-
tive mostly in the southeastern part
va thAAS oCStioh aHth hi NhC SSttoh oiu
cogn belts, American crops. accord.
-f6g to a concensus Of estimates,
Will surpass all recent production
records.
While agricultural prices are at
present on the decline, the failure
Of crops In Europe is creating q de.
fna1d for sAmerican-grown products
which the experts say will stabilize
the market.
believe the general business sit.
uatiop is sound. This IL accsntuat-
ed by the continuance Of activity at
. relatively high level, despite the
recent labor disturbances. which. by
the way. have had very little bad
effect on the South.
The railroads in most sections Of
the southeastern portion Of the
country were affected but slightly
by the recent strike. and In some
plaoes trade, instead Of being ham,
persd by these labor conditions. was
helped, because the Southern lines
make them thorough, while the
Northern lines had their hands tied.
Interest Rates Low.
believe that the credit situation
throughout the South il decidedly
favorable to an expansion In bust
ness activity, interest rates are low.
compared to a year ago. and COM
mercial failures, though stin high,
are ,lessening in number.
Rediscount rates are generally
not over ~ per cent and the bank.
ing structure is claimed by Treas
urylofficiais to be sufficiently strong
TO sustain q long period OF CONNER
S,taI Arafrtal activity
Farmers are assured of plenty Of
credit, and a large percentage Of
them, better established now than
they were two years ago, when in
dustry was at it's lowest ebb, are
now facing the necessity of demand.
ing ,extensive credit.
Healthy business conditions are
REFLECTED down here. believe, by
the following:
H. Better spending power of the
public, with merchants reporting
larger sales than last year.
Alan actual shortage Of labor in
q Number Of Industrial lines.
8. Larger wool consumption.
4. Large sensational increases In
wheat and rye.
5. Larger increases in the pro-
duction of basic commodities. ap
parent particularly In iron and
steea. And so. with the settlement
OF the coal strike. industrial opera
tions resumed almost capacity &C.
hvity. III.
the South, opportunities here are
greater now than ever before, and
il we all pull together. the South
North, East and West. as unit.
we win have prosperity once more