Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-08-31
4 Cheering REPORT on Business

N it's notable review OIL georgia anu
neighboring regions of the Sixth district
the Federal Reserve Bank of Atlanta
makes a conservative but highly hearten-
ing report The months salient feature, 1t
finds, is "the inherent soundness which the
general business situation has manifested In
face of the difficulties encountered" that
is, continuance of activity at relatively
high level despite labor disturbances and
despite the recession of activity expected at
this season of the year."
Upon production as we'll as upon dis
tribution the coal and the rail strikes have
laid handicaps which might have proved sore
ly depressing, had basal conditions been less
vigorous and firm; for shortage Of fuel and
trouble in transportation touch the vitals OF
industry and of commerce. That there mas
been in some fields more than seasonal lull
of activity is not to be denied; in steel, in
automotives, and to a degre in building OPP
erations effects of the strikes have been felt.
But the meaningful fact is that neverthe-
less there has been no grave decline, and that
in other important industries production, II
not actually increased, has been we'll sus-
tanned. Manufacturing in general, as COM
pared with it's status year ago, is at high
level. Such strength and such steadine )
under the test of two strikes of national
scope are Enthusiastically cheering. e..
Cheering too are the prospects of the on
coming harvests, as we'll as the riches of
those already gathered Of conditions in the
Sixth district the Federal Reserve Bank de-
clares: Crops, as a general thing, are re-
ported to be good for the season. The esti-
mate by the department of agriculture of the
condition of the cotton crop on July 25, made
public early in August, was somewhat of
surprise, as private estimates had been made
indicating improvement during the month,
and it was expected the condition would be
around 70 or "a per cent Of normal. The
figure published by the department, however,
showed that the crop had registered a small
decline, from 71.2 per cent Of normal on
June rs, to 70.8 per cent Of normal a month
later. In the Sixth district the condition OF
cotton improved two points in Alabama, one
point in louisiana and two points in Tennes-
see, but declined ten points in Florida, four
points in Georgia, and two points in Missis-
sippi, according to reports by representatives
of the United States department of agricul-
ture in these states.'
Food crops, it should be added, will play
a potent and enriching part in the autumn
fortunes of Georgia and her neighbor states.
There has been more of diversified agricul-
ture than ever in years gone, and there will
be more of efficient marketing. Less cotton
money will go for purchase Of supplies
from distant quarters, and the net profits
of farmers will be correspondingly increased.
Further, the bountiful harvests of the coun-
try as whole will make for a prosperity in
which the South will share. 'hink of the
purse-filling, trade-stirring power of three
billion bushels of corn, of wheat crops which
are up to a liberal average, of the largest
yield of sweet potatoes on record, and next
to the largest of Irish potatoes! 1t is reck-
oned that seventeen of the seasons crops will
have at August prices, value of more than
seven billion, one hundred million dollars
This would suffice within three years to wipe
out our entire national debt, including the
Of
Uses almost two billion dollars together with
the latest of futures for livestock indus
tries. With such cheer from it's primary
springs and with such strength as it has
manifested amid recent trials, business as
suredly can face the future with courage.