The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-05-07
An AMAKENUn INDrsrnINL sYsTEM


that have always existed. The report on tho
motor Industry, to tho effect that business for
tho month OF April reached total OF $4,000
vehicles delivered to actual users s but one
more link in the now long chain oc orcum-
stantlnl evidence that American business Is at
last getting into n stride which means general
employment OF labor and widely dlffuscd pros
perlty.
In Tulsa and itF trade territory these friendly
assurances of a now and better day abound on
every hand Mover before hnvo there been no
many building projects OF considerable proper
tions in Immediate prospect. n 30 per cent of
the hull ling plans now being prepared by Tulsa
men and institutions materlnlizc. tho year 1922
will he tho greatest in point Of building values
In tho history OF tho city.
How did this change In tho attitude OF mon
towards existing opportunities como about? No
one can put finger any ono thing, whether
net Of legislature or resolution OF an orghniza-
tlon. and say there Is tho cause: Just no ono
even now In able to point out with certainty tho
cause which started tho dcflntion movement on
Its downward course.
Such things are psychologist. The upward
trend Of values went on ana on until by what
appears to be common consent men were afraid
10 venture further They Just quit. Manufac-
turing concerns knowing the pcrils OF the mar
ket, refused to fabrlcate high priced materials
with high priced labor into n surplus stock. All
orders wero rushed out under very adverse con-
dtions from the standpoint OF economy. Mer-
chants refused to buy excepting a day-to- day
basis. fearing they would find themselves with
large stocks and the market deprecatng, Con-
sumers were tho victims OF this situation. yet
they bought and bought regardless OF price.
Then, almost over night tho consumer do
cIded no could watt no stopped buying, The
average state Of the public mind, which is only
another way OF saying the fixed traits of human
nature. eventually control all such matters
What one consumer decided for himself In this
matter happened to he typical OF what most
others were themselves thinking,
with the buyer out OF tho markct--the ulti-
mate consumer--the market conditions changed
almost over night although It required good
many weeks to convince tradcsmcn that tho road
had actually turned. Tho market. instead OF
being sellers market. became buyers mar
ket--for the first time in three years This
hurt like the mischief Rut Il did result in a
period OF deflatlon as necessary ms 1t was un-
avoidable. All that followed was natural and
likewise necessary and unavoidable.
Again psychology controlled--or human ma
ture. Smarting from Losses and deprecated
values bankers merchants and manufacturers
became both fearful and sullen. They would
play safe and they would punish the great con-
sumng mass OF citizens for forcing such losses
on them They began to bark at government
urging Il to do this and do that. They were un.
willing TO embrace opportunities through feai
OF additional loss Confidence was dangerously
shaken. And, recolleotng tho days OF ecstatI,
protits--immoral proflts-impossb profitoer
ing, when there seemed TO he prosperity, every
body all at once began demanding that the gov
ernment do something to reopen foreign trade
so all concerned rested on their oars 10
many months-hoping for the impossible, thu
absurd-for the worst thing that could hav
happened, a now and unnatural adventure int
open competition with the old world But n maj
with surplus capital or credit will remain idl
Just so long. Another with a hlgh-prlccd pec
OF vacant property on his hands will allow It 4
go unproductve just so long And manufacur
ing establishments and retail merchants with
practically unlimited market at their very door
will refuse to adjust their businesses to the re
qulrements OF that market Just so long and n
longer. Tho broker who has gone long on an
given security or commodity in the expectation
OF cashing in when that security or commodt
scores sufficient advance, will remain out OF IN
market and put mp margins lust so long Ate
that he oashes in takes his losses and starts owe
again.
Thus the American industrial Hystcm havln
takon its holiday all at once set about maxim
the best OF conditions at hand The result Is
stimulation throughout the entire system whic
becomes noticeable at once, Confidence is bac
and with It the realization that have in tn
country subject to our own decisions every
thing necessary TO national prosperity Of III
most abounding kind
Now are going to realize that We are 81
ing 10 hear less and less OF foreign condition
OF our dependence on foreign markets and
our obligations 10 foreign peoples. In short,
are going 10 attend TO our own business and 3
our own house In order Because that is Il
only thing We can do without consulting son
CHAR government not at all interested In o.