The New York herald., 1922-01-08

conditions with not only considerable
hesitancy. but also with considerable
doubt as to whether any worth while
significance may be attached TO 1t. fnso-
far as its helpful application to the gen.
eral trade is concerned.
To me. however, one OF the most en-
couraging elements entering into the sit
uation, as 1t affects the future. Is what
consider q most pleasing degree OF
conservative optimism that seems to per-
meate the minds OF the executives OF
many OF the older and better established
companies. The trying times OF the last
wear or SO have, hoped. eliminated that
element of irresponsibility, or unwar-
ranted and too often positively looiish
enthusiasm which have worked more
harm to the recognized stability OF the
business than all or the other eo'erso
conditions combined.
AS a matter OF fact, the graver prob
lens of the industry are going to be
solved only by lot Of careful and sane
thinking and we find that those who
have weathered the recent storm TO
their best possible advantage are the
conservatives and sane thinkers.
1t is the old story Of the survival OF
tho fittest and once tho Industry -
ridden Of its evil elements tho future Is
by no means unpromising. l am con-
yinced beyond doubt that there Will be
n gradual business awakening during
the coming months which will be bene-
fetal to every deserving unit among the
automotiye makers. The all Important
conference in Washington cannot help
but have a saluta-y effect on business,
if Il concludes as favorably as the early
progress of the parley would Indicate.
All over the country there Is evidence
Of renewed confidence among the buy
ers. and while of course certain sections
will be slower in returning to normal
than others, We can, l beiieve. as-
sure ourselves that conditions even In
the hardest hit districts. will be on the
mend rather than on a decline. Fur
thermore, the export situation Is, IN our
own case, furnishing not little en-
colragement. Our November and De-
cember export sales showed an almost
amazing increase despite the countless
lMndicaps confronting it at this time.
And If the world Is buying our motor
cars now 1t is manifestly logical to as
sumo that the demand will assume more
economic conditions OF the war STRICKEN
nations are gradually corrected.
There are in fact so many other
grounds for predicting improved condi-
tions that are so obvious and so ap-
parent to all clear thinking men that II
is quito unnecessary to relate them hero
But briefly the situation is certainly
not as bad as some Of the more pessinis-
tic may portray it. On the contrary II
is decidedly encouraging for those manu-
facturers who actually merit a demand
for their product. who have neither
abused public confidence during the fat
business years nor disappointed their
consumers during the lean ones. Al
the same time we must not overlook the
fact that the day Of tina discriminating
buyer is definitely here. The trials OF
the past have developed ahost of care
full buyers. Automobile purchasers this
year will insist on dollar for dollar re-
return on their investment as they have
never insisted on it heretofore Merit
of the product will be the keynote of the
successful selling argument The day
Of exaggerated statements and flamboy'
ant appeals to unintelligent buyers Is
1 devoutly hope, for the good of the
trade, gone forever. We of Hupmobile
look forward with full expectancy to a
busy year, lots OF the keenest kind OF
competition and withal q pleasant and
profitable year.