The county record. [volume] (Kingstree, S.C.) 1885-1975, 1922-09-21
PROSPERITY COMING
But TO BE DELAYED
Warning Given that Country Must Re
cover From Recent Industrial UpheaN-
al Before Economic Benefits Come.

officials TO-DAY tnat the country must
wholly recover from the aftermath
of the recent industrial upheaval be-
fore economic benefits flowing from
the settlement Of the railroad strike
can react fully upon national business
conditions.
Secretary Hoover took the view 'lat
although the country is now undou0t-
edly better off than it was year ago,
it will probably be six months be-
fore a high plane of prosperity is
attained, while Secretary Mellon, al
though considering the business out
look "very good" recognized as
forestalling immediate commercial
expansion the limitations imposed
upon transportation facilities by car
shortages and a possible inadequate
labor supply.
The greatest loss as a result OF
the strike will be borne BY the farm
ers, according to an analysis Of the
situation by Secretary Hoover, IN
which he reached the conclusion that
the economic wounds received by
the country should be quickly healed
In contrast with the views OF his
two cabinet associates, however, Sec
retarv Davis of the labor department
was positive that settlement OF the
railroad strike removed the last OBJ
stacle to unprecedented" prosperity.
Scope May Be Extended.
Reports today to the labor depart
ment from its representatives. ir Chi
cago brought additional details OF the
scope to which the partial settlement
of the rail strike was expected to
extend. At least 35 per cent. of the
railroads affected by the strike have
approved the Warfeld-Willard-Jewell
plan, they declared, while sufficient
other carriers had signifed their will
ingness to settle on this basis to
bring the total to 65 per cent. OF the
national mlage.
1t was expected that little time
would be lost in the opening OF nego-
tiations between the roads and the
Unions looking to actual signature
of the peace pact. The only railroad
with local headquarters, the South
ern railway system, announced today
that such meeting had been called
for Saturday.
While the losses due to the coal
and railroad strikes have been on
siderable" Secretary Hoover said In
a statement issued tonight, "they are
easily overestimated."
"The estimate of current coal min
ers' wages lost in the five months
(of strike) is not a correct basis OF
the estimation Of the total loss" ne
said, Because over period OF 10
months we will probably consume
the same amount Of coal. In other
words, the miners will work more
days in the week and produce more
coal in the next six or eight months
than they would have produced II
there had been no strike and thus
the wage roll of the next six or eight
months will be larger and will, IN a
considerable degree, compensate the
loss during this suspension.
Loss of Productivity.
"The real loss would be more In
the loss of productivity in industries
that have, or might have, to close
down as a result of the coal strike.
If all of our industries can be kept
in motion, the loss will be much less
from the coal strike than is current
ly estimated.
"The greatest loss today is the one
being met by the farmer as a re-
suit of the railway strike. The ex-
port of farm products has been seil-
ously interfered with by the inability
of the railways to transport produce.
Prices are therefore unduly depressed
in the agricultural regions.
"The inability to transport manu-
factured products will create some
degree of loss but not so serious as
that to agriculture.
"There are other losses that must
be counted into the national balance
shoot, such as the damage to the
railways, the extra charges which
they have (. put to, the cost OF
keeping the mines open, and MAIN
tanning them during the period OF
suspension, and hundred other items
that are of importance. In the broad
view, however, if we can get back to
business, if we can secure resump-
ton of transportation and rapid dis
tribution of coal and agricultural
produce we will not have received
such an economic wound as can not
be very quickly recovered from. We