The Birmingham age-herald., 1924-11-27

nothing better than to see this country launch upon a period of reckless boost ing of prices and wages. Sucn acuoh' they know, would quickly cripple us.
 A moderate advance in the price level must be expected now that demand IS becoming keener, for 1t cannot be de- nied that i'll various Hines of business the margin of profit has been unrea- sonably small. But 1t will be most un- fortunate for all classes, including wage earners, if the cost of products and the cost of living be marked up one tiny fraction of one per cent more than is absolutely necessary.
 There will be temptation. Activity assuredly is spreading. In fact, the bullish news is so abundant that 1t makes one almost uneasy.
 You cannot pick up any newspaper or any, weekly or monthly bulletin from any banking or business institutions without finding many optimistic items.
 Even New England, which has been tagging owing chiefly to the dullness fin the textile and shoe industries, Is taking on a new lease of activity. A statement just received from the First National bank of Boston, contains these sentences:
 "Even in the cotton goods branch of the textile industry, a distinct i'm proyement is noticeable, Southern mills are. in many instances, working night shifts. 'd
 "Canadian mills are doing the same In the north the improvement is less noticeable but nonetheless real. Those z who have access to spinning rooms agree that machine hours have per ,ceptibly increased in recent weeks ana : the demand for goods Is decidedly bet ter. Speaking generally, New Eng land industry, as indicated by produc- tion, is building up at very fast rate.
 Says the Guaranty Trust company, of New York; .-, ..-.-
 ''There has been a distinct revival of business confidence. Fundamental con- ditions are ripe for progress"
 Colonel Ayres, of Cleveland, whose business analysis has won for him the highest reputation, predicts that 1920 will be year of prosperity. So, as matter of fact, does practically every other financial and industrial leader.
 What are some of the most notable news items of the last week or two :! The railroads announce they will spend HOO, ,000, ,00O for equipment next year. Our total loans to Europe for 1924 will probably exceed $1,25o, ,000, 900, giving Europe a distinctly greater purchasing power here.
 The world is taking our exportable grains at prices which. spell profit, our exports of the raw materials have ex- banded and home consumption Is rising markedly. .
 The head of one standard automobile company writes me that his October sales increased 6S per Acent over a year ago and that the November totals prom ise to show an increase of 50 per cent over any previous November in the com pany's history.
 The federal reserve, hoard, very prop t erly, did not recommend higher redis- count rates. Money is still plentiful on terms attractive to borrowers and is likely to continue so for months.
 The vigorous advance in the security { markets is enabling railroads to raise capital through stock issues, for the first time in years-a development of deep importance.
 Here are few newspaper headlines picked almost at random:
 Independent coke ovens likely to raise wages.