Evening journal., 1922-07-12
THE HUM oF PROSPERITY

perity the national capital from all sec
the country particularly the South. Re
newed activity all lines of business finds reflection in
heavier railroad traffic both freight passenger.
Bank loans have been rapidly liquidated for many
months past with consequent easing of money cond-
tions. and lower interest rates
As illustration of the progress made in getting
to normal North Carolina boasting that that
all other agricultural the early
repayment of loans made by the War Finance Cor
poration under provisions the emergency acts
passed the Republican administration came
power The temporary financial assistance rem
dered by the government a of counteracting
dehation program the previous administration
sufficient to give the farmers chance to get
their feet more.
According the Houston. Texas Post, all OF the
ern portion State is enjoying a wave of pros
pery. The western part Of the State where the cattle
industry does not respond quickly changed condi-
tons has been little slower in from the
devastating effects Of dehation.
Speaking of conditions throughout the South gem
orally prominent trade publication that section
says, Where year were short Of money we
find such apparently unlimited supply OF funds
that issues of industrial railroad and municipal
and foreign bonds eagerly grabbed and almost in
stantly absorbed OF the market and put away in
boxes. The South spending 800 600 600 on
school buildings. and s25.OOOOOO church struc
lures, and millions than before on other
lines of construction work especially highways
this is only typical OF what going in parts Of
the country" The publication after telling of a
boom in home building, that the development of
miscellaneous in variety is told in 1145
items appearing since January Many industries that
idle working only part are now at capacity
in order to the increased demand for their pro-
brought by general resumption OF near
normal activities throughout the country In a num-
Der the facilities are not now equal to the
production demand and accordingly millions of dollars
being expended for machinery, remodeing addi-
tons and new plants"
Inasmuch steel production generally recognized
Industrial barometer there is special significance
in the dispatch from Pittsburgh conveying the Informa
ton that "The steel trade has closed very interesting
half year during which Its rate OF operation practically
doubled the latter OF the occurring in the
face of the strike which has extended over the
past three months
After making careful survey OF industrial and COM /
nercial conditions Secretary OF the Department
of Commerce said: "out OF forty-two production [
movements reported. thiry-eIght showed an increase
Forward orders increasing business again pre-
the picture prosperity The agricultural su
having biggest ever known and this carries
with it large number Of conributory industries EN-
ployment has reached stage where scarcity OF men
is reported at points,"
This returned prosperity has been accom- pished un-
der cautious constructive policies on the part OF the
administration and without any to paternaistic
schemes The government has encouraged men OF en-
terprise to go ahead. and they have