, 1922-10-31
The Opposition Attests Prosperity.

WHILE Democratic campaign spellbinders are
w shouting themselves hoarse about the depres-
sion and unemployment, the commercial pages of
Democratic newspapers are filled with facts testi-
flying TO the enjoyment of a returned prosperity
after the destructive Democratic deflation which
marked the closing months of the Wilson admin.
istratiop. A recent issue of the New York Times,
an independent Democratic journal, announced in
very bold headlines that, Shortage of labor is
almost universal" and that improved business
conditions and increased employment are reported
in all sections The "Annalist," a business pc
riodical with no partisan bias, but published by
Democrats, said in its most recent issue, discussing
the business situation:
General business conditions continue to be of
a highly satisfactory character. Developments of
the last week have served merely to further en-
phasize that this business expansion is being built
upon sound principles, and that it may be cx-
pected to continue at an Increasing pace. 1t would
be natural to expect that business at this period of
the year would show improvement, no matter what
might have been. the record of preceding months.
We are advancing now into the holiday period, and
this in itself serves to stimulate activity in retail
lines. Furthermore, at this time of the year the
purchasing power in all parts of the country is at
the peak, and this is particularly true of certain
sections this year.
In the south, for instance, there has been
heavy marketing of cotton, and the south has re-
ceived a price for this staple which affords an
excellent return on labor and capital involved.
1t is also true that in the west q goodly portion of
the grain crop has been marketed, and the buy
ing power has been correspondingly raised. Thus
there is established the foundation for increased
activity in all lines, and it is this which bears Il
direct influence on conditions this year. To a
certain extent the demands for the holiday period
are peculiarly seasonal, and it often happens that
with the turn into a new year there is a reaction
which leaves industry, so far as retail lines are
concerned, in something of a PROSTATE condition.
There is, however, no reason to expect that such a
situation in its broadest Interpretation will apply
this year.
"The record of the last nine months has been
one of steady progression in business aid finance.
and the underlying situation. has not been changed
in the least. The money for business purposes is
in plentiful supply, and will probably continue
SO, and under such circumstances there is no reason
to doubt the correctness of the viewpoint of bust
ness men that operations can continue confident
1y in the full expectation that prosperity is more
nearly of the present than it has been at any time
since the process of deflation brought such
drastic readjustments and such staggering finan-
cial losses"
AS shown by previous statistics published by
the "Annalist," the drastic readjustments and
staggering financial losses" of which it speaks,
were started during the Democratic regime in
1920. The revival has come because of and by rea-
son of the policies of the Republican administra-
ton.