The Cordova daily times., 1923-04-11
THEN AND NOW

A year ago there were nearly 5OO,00 idle freight cars in the country. Now there is a shortage of nearly 100000 cars, and still larger number could be used if they were available.
 Then the iron and steel interests run ming at about 30 per cent capacity. Now they are running at from 80 per cent to 85 per cent capacity, and limited only by the lack of transportation. l
 Then business was stagnant and pessimisnr ruled. Now business is active, and growing more and more active day by day, and opti- mism rules the land
 Then there was uncertainty in the minds of free traders and of many honest minded peo- pie who believed that protective tariff would depress our export and import trade. Now our export and import trade are growing with remarkable rapiditv and the shipments of farm products and of manufactured goods as well as imports from other lands, are setting at naught all the predictions of disaster of the free traders year ago.
 Then there some uncertainty as to the extent of construction activity which would prevail throughout the land. Now construc- ton is proceeding at an almost unprecedented rate in the building of dwellings,, apartment houses, magnificent hotels office buildings, banks, churches and schools; and practically in every other line of construction work, ac Itivitv is vigorously under way
 Then the railroads had ordered very few locomotives and cars. Now the and loco motive shops are crowded with orders from railroads which will tax many of them to their canacity for months to come.
 | Then the railroad officials were in despair, not knowing how they would be able to meet their obligations and expand their facilities 10 take care of the traffic. Now the railroads are working on safe ground, with margin of profit which will enable them to finance for great improvements and an increase in roll ing stock beyond anything which they had been doing for six or seven years.
 Then the iron and steel and kindred inter- ests were at very low depth. Dullness, de- rression and almost despair ruled in many an office of companies big and little Now the demand for iron and steel products exceeds the output, and everybody is busy and happy.
 Then cotton was low and every bale sold in- creased the poverty of the growers. Now cotton is higher and every bale sold yields fair margin of profit to most producers
 Then the farmers of the West. like those of the South, were suffering in dire poverty. Now increased prices for wheat and corn and cattle ana nOgS nave llICeu many MllllOuS ol dollars of indebtedness and encouraged the Western farmers, as we'll as Southern farmers, to % ahead with their work.
 Then no man dared forecast what would happen unless he forecasted poverty by the continuation of the policy of deflation which might at any moment be enforced so long as the influences which then controlled the Re- serve Board dominated the situation. Now that fear has been dspelled and there is con- fidence where there was uncertainty. Now there is an increasing realization that the day of secrecy in financial matters controlling the country's business interests is passing away and openess and constructive work will take the place of secrecy and destructive efforts l Then exports and imports alike were small Now exports and imports are heavy and rap idly expanding.
 These are but few of the striking things which indicate the wonderful change that has taken place in nearly every line of business and in every section of the country.
 But more than this is the realization of the fact that the tide has completely turned, that the wrecks strewn on the shores of the busi- ness ocean of this land are being cleared away by the rising flood of improvement in busi- lness conditions.