The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1922-12-28
STRICTLY PERSONAL OPINION
or not it, but think for yourself grant to
others the privilege.

ing here are amazed at the evident
prosperity of Nevadans, and are
frank in their statements that there
is more real money among the PEG.
pie here than in any other places
they have visited. They Compare
Nevada with Idaho, Utah, Oregon
and Arizona. where a farmer OF
business man, no matter how much
security he may have, finds it i'm.
possible to secure loans for the ex.
banding of business or indeed for
the actual requirements of ordinary
business. The reason for the diff
ference seems to lie in the morale
OF the people. In the states men,
toned bank failures have been fire.
quent, while Nevada has the first
bank smash still to be recorded
With bank failures come timidity
of people, and they rush to secure
their deposits. If their rush does
not mean the actual wrecking of
the banks, it at least means that
bankers must call in loans in self
protection, and this frequently
means the sacrifice of mortgagors'
interests. Thereafter the banker is
extremely chary of making fur
Their loans, he preferring to keep
his assets liquid, that he may readily
meet possible rush of depositors
intent upon Withdrawing their saw
ings. This means hard times all
around, with frequent business as
we'll as bank failures, and no posi-
BILE chance for expansion of bust
ness or normal community upbuild-
ing.
One man said the other day:
People in Nevada do not realize
what they have come through, and
if they did they would be appalled,.
Under conditions that have existed
they should have been happy to
break even, -banishing even the
thought of profit-making." That is
the fact. and will be apparent if
one stops to ask where the money
has come from to keep the wheels
turning. Mining has been practi-
cally at a standstill, with men posi-
lively discouraged in their quest to
secure working capital; the stock
man has been marking time waiting
for a better market. while the lamb
and wool money was greatly re-
duced because of excessive losses,
hitherto unpublished, due to an
extraordinarily late and bitterly
cold spring year ago that took
such enormous toll in sheep focks
that none has had the heart to
total it. Ranching, alfalfa and hay
raising. has brought hardly enough
to keep the heads of ranchmen
above water. Where, then, has the
money come from? And why have
people been able to continue spend
ing and at least make a pretense
of prosperity?
But now, on the eve of 1923, we
find the sheep going into the winter
in the most excellent condition with
in the memory of older men, with
fall range abundant and made avail
able through early SHOWS. Wool
contracting is going ahead at this
time, at prices above those most
fondly dreamed of months and
months before men have even
thought of wool sales during
many years passed. Cattle men,
it is true. are still in the
slump, but grimly holding on
for the day that must come when
their product will bring a price that
will permit of adequate profit, and
that they are enabled to carry on
should be gratifying within itself
in these trying days of starving
cattle in other countries, their own
ers stripped of all their earthly
possessions. But in mining we see
distinct signs of revival on every
hand, with the erection and recent
completion of a dozen mills which
will turn the earth's treasures into
wealth for men, as well as the open
ing up of innumerable properties
the value of which can hardly be
questioned. All signs point to even
greater mining activity as the spring
sun thaws the frozen ground. Hay
and ranch products are reported as
all sold at prices that mean at least
a small surplus for the years la
Dor. These things are positive in
their value and bring "new money
into the state, and when this occurs
prosperity must result.
In a nationwide sense the reports
Of federal officials all hold forth
solid foundation for hope that con-
ditions will continue to improve.
All signs point to exactly that. and
for this Improvement we may all
well be thankful, and be happy in
the opinion that 1928 shall be the
skidoo year for after-war business
depression--a thing that has always
followed every great war, historians
say.