Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1923-11-08
GOOD BUSINESS AHEAD

Washington Probably one of the
hest reasons upon which to base con-
fidence in the immediate business
future of the United State is the fact
that great many people are Q little
weak in their confidence Be cause
of this act of ronfidenle they have
been over-cautious, and financial sit
uation has notice of the weak spots
that made the stump Of 800 SO drastic
Prior to the 1920 depression, all lines
of industry had been running at full
capacity and retail merchants, con-
fident of the future, had loaded their
shelves with goods bought at high
prices. When the Wilson Amini-
stration, in the effect to fulfill it's
promise to cut the cost of living,
started the deflation program, every
feature of the situation was exactly
right for destruction. Not only the
merchants but farmers were carry
ing huge debt which their creditors
called upon them to pay. Liquidat-
ion meant heavy losses.
The lesson of 1920 has not been
lost. According to all reports, retail
merchants have been buying eau
tiously and in quantities such as
they can reasonably expect to turn
over without loss. Although the
wheat farmers are in bad position,
other farmers are prosperous. The
agricultural loans made through the
War Finance Corporation have been
reduced from $3500O0,0OO to about
100000, 900. Loans from banks been
reduced and the farmers interest
burden lightened. Saving banks ac-
counts have increased throughout the
country, in farming regions as we'll
as in industrial centers. The people
of the country have been providing
resources against period of ADVERSE
ty, and this makes all the more I'M
likely the occurrence of such mis-
Torture
Current trade reports shw fir
eight car loading at the present time
more than Is per cent greater than
at the same time last year, the in
crease being recorded in every class
of commodities except coal and coke
The largest increase is in forest pro-
ducts, which indicates continued
use of timber in construction. The
freight car surplus is below normal,
indicating the increase actively of
cars, and this is made more signific-
ant by the report of a larger proport-
ion of freight cars in serviceable con-
dition. Building permits for Sept
ember, 1923, were 100000 great
er than for the same month of 1922.
In recent resume of factors up
on which to base the opinion that
actively, President Julius H. Barnes,
of the United States Chamber of
Commerce, recently enumerated the
following: Largest pig iron product
ion largest crude oil production, larg-
est automobile and truck production,
largest residence contraction, larg-
est production of locomotives, largest
volume of mail order sales, largest
volume of retail sales, and largest
volume of railroad car loadings.
Of course, the situation is out with
out its disappointing features. The
wheat farmers have some company
in the oil produces who are suffer
ing the steady decline of prices, due
to surplus production, as in the case
of wheat. Lower gasoline prices
will tend to increase the consumption
and help to reduce the surplus.
In no section of the country is
there any complaint of unemploy-
ment. In fact, the complaint is that
there are not men enough to do the
work and there is clamor for the low
ering of the immigration bars, de-
mand which seems to make no appeal
to the Republican Administration.
The people Of the country not having
/ engaged in any exeravagant buying
at high prices, there is no danger of
a buyers strike" to start an indust-
rial reation.