Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31

o'oCh any legislation which Is fun
damcntally dangerous.
Prospects Arc Favorable.
Taking everything together. the
prospects remain favorable healthy
business revival already is under way
and gives every Indication OF con-
tinuing during. at least the next six
months The chief stimulating in
huenccs seem likely to retain most,
or their strength. II certain slack
ening comes in the contradiction OF
nigh priced houses and OF roads. the
loss probably will be made good bv
Increased building az medium-cos,
homes. OF commercial buildings. and
OF schoolhouscs. Railroad earnings
arc not wholly satisfactory; but they
should Improve as the effects OF the
s'rik" wear off and as the volume Of
rhhhc grows. In any event the
equipment companies already have
booked sufficient business to Keen
'heH running at high rate for a
considerable part OF tho year. More
equipment undoubtedly will he bull,
during 1923 than during 1922. And
inc automobile industry Is well book
cu ahead and sees no falling off in de-
Hhhh. employment is fun and In
dusirial and city purchasing bower
is high.
Meanwhile tho farmers position is
improving. His income is growing
ms indebtedness ia decreasing. and
ms buying is more liberal. az witness
the larger sales Of the maiI-ord.-
houses. IT would bc foolish to nre-
TEND that the situation is satisfactory
as yet In the agricultural districts:
II ~ materially better. however than
r year ago, and the outlook is NOT
devoid OF promise. Given good cron,
ana fair prices. the return OF gen
'rous prosperity will be in fair
way Of assurance
similarly Is the case OF tho Euro
pHan situation. the past twelve
months show slower nroErcss hu,
nevertheless an advance towards
inc eventual removal OF tho existing
obstacles TO recovery. Political ami
mositics gradually are softeninr. nc
iations between England and Franc.
are materially improved: common
qua reasonable front towards Ger
many is growing probability. Sol,
ilement OF the rcparatIon. ON doo
ni'e basis Is now 4 distinct posS,biI-
ny. Time VIII he required Ia hrinr
'hcse Things 10 pass; quick recov-
OF European purchasing mower
- TOT 10 he expected. sun. the sit,
uaton Is materially improved as com
Sarru win year ago. and our own
business probably can run alop f.i-
normal stimulus from abroad. If
however the reparations should h.
cleared up by next fall and E.urope,s
credit should be correspondinply
raised. the %ffec, on the crucial maj.
Ter or our farmers purchasing nov
or would be most important
year ago a moderate revival OF
business with some restoration ~
pront making seemed to he on tho
Sards. Actual results have excc.dnd
e"pectations This year, win
heathy revival In fun swing tho
chances Tor prosperity seem good
iranteh wise management tho situ,
.ion ~ propitfous. \ rational at,I
t"de in Europe. and in this coup,ry
towards Europe: forbearance ON ,ho
part OF labor: willingness to name
reasonable prices and take fair profi,s
on the part OF business men: and
conservative management of our
p"nHins system should prevent IN.
revival from Slipping back into de-
preston or from developing into an
uhsound and abortive boom. Tn
snort the situation is such that nru-
uehce and sclf-control should give
inc country what IL really wan.s
SOUND and enduring prosDcritv
&C. 1922, by y. Y. Evening POS, Inc,