The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-10-09
CONFIDENCE Of
WORLD SHAKEN
England's Giving In On Turk
ish Issue Victory For the
lntlatlonlstS.
BY ROGER W. BABsoN.

81 noNEH ". pAoooN'
Wellesley Nus Mass, Oct. s-pls-
cuss:Hs the statement %: certain hank
ers cha, the country - headed 10: an
other p"r.0d - initiation. Roger W.
EaAsnG today issued tho :o.t"wing
sta;emeac, from MS statistical offices
a. we!,e icy H..ls:
For readers Who ars re-, bankers
ard economists. 1t NE first eNGta'n IN
d simple language. what - meant oE
Initiation. Men who are acquainted
with the Eahsoa chart % Business con-
6ii:cns Know = : wIde up OF TWO lines
first a normal line. representing the
permanent growth ~ me country whiGn
LOOKS Ike simple uphill Srade ard
a second Uae which ,Noks like III. out
i.ue Q: a:.tS and valleys. This SeG2N1
Ire represents temporary business cor
dI;!oaS For few years :; is ABOVE
;he uo:m4l in" and then FOR few
wears :; : below ths normal line. when
ths two lines coincide business Is no.
ma. ~ when ne second line IS above
The norma. linz. bankers say We are
uav,a= 'n:.t:!oH. WHALE when this ire
= Ae,,w ne norma. linz. bankers say
~ are having d"t.a'.on. Just nov
rhsy }4r IA, W are threatened with
a3o-cf l. ?A"lod !: initiation
"Tht normal line ~! business IS de-
te~mIn.d - ,ne honesty. intelligence.
,ndGS;"y ard thrift OF the people Com
pairing tHe health OF business with the
health ot 4 person we would say that
The norma, growth depends upon how
We behave and how we take care Of our
selves The temporary business line,
however. IS Affected By stimuli the
same as or body y sttmulant MAY
greatly sXhiiarat" us. bur We know
the e::eC, = only temporarily and the
reaction afterwards - very depressing
We Tee, ZACH worse In a Few Gays.
This Is the scientific explanation OF
the common saying, ! feel like the
morning. a:cc-.' There are several rea-
sons why he bankers may be right in
saying tina. temporary period of IN
fiat.on IS a, kand Tn country dur
ing the pas, near has been given three
d.S,iac; Sc!mu!an,S watch should art:-
Really help business and thereby cause
Initiation.
The S:tmulants.
The trst Of these s;imulants was
the Immigra;ion Law PASSED a year ago
and Which was recently re-enacted This
is known as the 5 e Law. which limits
the en- migration from any country in one
wear 70 ) C OF the people now here from
that country. II IS practically tariff
on manual labor and on common labor.
II continued. Il will cause a famine OF
common labor n tbs country. II is the
reason why the United States Steel
Corporation ard other concerns are IN
c-eas:ns the wages OF common LABOR.
II his law continues very much longer
;, vii cause az imitation in the wages
% corr -ron labor and thereby tend to
bring atoY. a general Imitation.
The Ta-,1 Bill. which was passed
las ~o~rh : second cause OF mia
,sn- Whether ~ not such a tariff IS
1ooI GOV -hs country IS a political quAs-
,gor AID = oo- TO- -,a - discuss. bur
az students are agreed that II IS large
" ,a-,crrA-v Sr,r,ulart. tn" tartU
heirs the man. :acrurer the same as the
,g-s.,on Law helps The wage "orS-
A. ~ r,..Ssr he rariT nor the I'M
rr..ra,.o~ L.v '"N~s2SsS production OF
makes .wn blades " Scass grow where
oriv go grew before Tn" tarlH VIII
rar.a a. Increase in ire price OF goods
the same a. The migration Law VIII
cause az increase IN wages. Increasing
pr.ces and increasing wages hs"eHe''
- 80, make the country any richer.
-. ., ouatrv becomes richer only as IL
hss more buses. more bushels. more
,ons ard more yards OF goods. Marx
,-g IN ;ne price 0: goods accomphsnes
,o,h,nr Wt;a about a thousand do'-
lar YOU can today buy million Ger
Tan marks and become mA!Iooa''e'
III, vow are n" richer than before
Tho Near East.
TIE -h,-i event that Will help orlns
o. &c .aHat;on happened .ast week
waan EaEIard gave in 70 Turkey Eng
Lard has been the one great country
ou.s.da o: America which has stooa
<.- law AID order; FOR the payment 81
a.H,s and sound currency. The tack OF
F+ance AID l'aly 20 back up sAEIand
or re Turkish matter his sAaNeh tns
.--sGer-A q. - world n Europe ana
E,..-n.A~ securities. Even some Ehs-
IIshoe, themselves are saying. WHAT'S
49, usan II no one will back US up We
RAJ hA-:A- le, aa-ure take Us course.
rr,s means ma. EV-ope. instead o.
shocking ia bad leaders. has given IN
~ .nau The Turkish victory is VIC
,o~, Coy the :aHac.oa.s:s O: Europe. The
bacE.~g down .: EuSianl - defeat 'oe
ire s,urd m""cy interests % the word
Tri- s hoaat % nave an unfortunate
affcr. IN ;n., coG7'-v and cause h!SheF
,n;eyes, rates The cheaper interest
rae period n w3,cl We have been en-
,er;oC NAV temporarily be checked ana
even money may BE- scarce Tor 4 S""''
.in.a. " =" !'nu.Erat!on restrictions
case az Irritation ~ wages. and the
rsr:. an imitation n prices. - THIS.
Turkish co.~o1a may cause an imitation
N in crest rates.
Downward Tendency Coming.
.'.rnc-.. ,hrse ftr'u"s MAJ C7us" tenn
rorar~ initiation More - them. how
e,o- affect .he ionr swings ~ business
wh,~h a-o d"'c:a!sH"i BY Fundamental
.rrrrm:c law - :t- - The long swing
goes w. are in d period % dehac.on
which will continue ror some years TO
co-,c over ne ,o7E period Of years
the .er4sa~y o.: wages. prices, and n
.sres. rates vi continue downward.
aoveve- :, - very likely that this ten
iec-v has temporarily been checked and
a. shall p-oaa - have all the ear
ra-Xs Of a period Of prosperity during
-. next few months"
Genera! business as reflected b. tAe
l.tey O: cAe Sabson char os a. the
Agnes. roiar n over two years. Aottv-
~ fn- the week - but Sc below nor
ral as compared with 60 below last
.zaA. and ioG. below year ago.