Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1922-01-06

survey of business conditions OF
khe county, involving close inquiry OF
pfhorlties In all the financial centers
aesttablv drows forth variety Of opin
1ons. While opinions vary as to causes
7nd remedies. it is possible to draw
xa,he~ exact conclusions as to what
.ons, actually are, and as TO what
&nav De expected in the near future.
xss On the trip which have just com
Sb,eted visited important centers
q tb brougbout the East and South and
ked closely with more than one hum
80 presidents of banks and indus
Eral enterprises professors Of econ
{n,cs in universities and governors OF
Z federal Reserve Banks. From the con-
hsnsfs Of all these opinions II may %
s. y.state6 that business as a whole is noe
seoing to be as good the coming year
"a 1t was in 1919 and 1920. Although
times will undoubtedly get worse pc
zApre they get better, we are in no DAN
" OF panic. and conditions will not
sst as bad as they were in 1893 and
s 49, wears Immediately following A
ear and a half ago when we were TAX
- n aeroplane ride in the clouds,
.tl,ere was a serious question whether
80 couId come down to earth without
1w,se,,ing our machine, but we have de-
rispely landed and have taken the
figst big bumps. Although it may be
zo.es time before we have smooth rid
ue wa o.xut of danger of a crash.
osition of the farmer is the
8paI cause of depressed conditions;
.a, .overty of the railroads
~ .sle lrirerpedent because of tho
freight rates necessary to keep
ailpays going. The farmer peys
percentage of the freight bills
zF country. The farmer Is defin-
ktelv out of the market until next Fall
Ina the prices of farm products are
In of relation with the prices Of man
j tactured products As long as this
leondition continues it is impossible to
(oredict resumption of trade and in
snstrv. Country banks in the middle
Sest are loaded with frozen credits
1 sxtended to farmers who cannot pay.
farn products have reached the pre-
| -ar price levels, while manufactured
( rod,,cts are 60 per cent above the pre-
owly for the most part. A large pre-
! ar levels. Wages are coming down
sntage of the country population has
the farms and gone into the citles'
this gives too large q production
..dustrial population for the farm
to support. Wasteful and extrav-
ant methods of production operate
4 ssainst industrial activity. 1t must be
Z acognized that labor is paid out of
/ .oduction and as long as labor is per
Faitted to limit or reduce production
n ,dustrial activity is hampered-
EsProspects for foreign trade are not
orv owing to economic conditions in
{Europe. Our foreign loans OF $lo'ooV'-
a. can only be paid in merchandise
/ shfch. produced at low cost, can De
j r,nned into the United States at flg-
-. -, far below our own production
.cSsts.
Nevertheless, there are many rea-
...ns for ontimism. Merchandise stocks
ere low in all lines. and, although con-
:pufnption may be on areduced scale
10 600, 900 people require good many
commodities. Resumption in buying
viii surely come and will be immeoi-
.te,v reflect in industry. In all prob
ABILITY. exporting win be stimulated by
arrangements of trade with foreign
Something may be
&one along the line of issuing Ter Meu-
1en bonds by means of which impoN-
erished countries in Europe can puy
raw materials in the United States.
Progress along the lines of disarma- :
,ment is having favorable influence ,
y,ts foreign exchange conference next
spring will have a tendency TO stlmu- q
late our foreign trade. There Is PROB !
ability Of railroad deyeIopement' ana |
wvheu this rnaterializes the result VIII !
- beneficial 10 the prosperity OF tne 4
nation. There are outstanding reasons 4
~ optimism in the fact that the United q
ntates has the agricultural resources
~ materials, skilled labor faculties 4
- saachinery for great production +
"a also own ~ per cent of the WORLDS d
6cpply of gold sreat Initiative eno re- T.
Hseefulness and the highest typs % a
kenfy liow eap sreaf poverty pc +,
p4Dleg q
4Ee tFeaas go dangerous grounds
xhen foreeasiine nparelal conditions n
II y posslhls peYsltheless ~ Wake
aalat spfofe preilpilons "A e Nkelf
En- mon. u.Ill lr +. a.natal a..lIU. la