The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1924-05-07
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. THE BUSINESS SITUATION
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CONNECTING tendencies IN industry
and trade persist, states the current
issue Of The Guaranty Survey. pub
ished in New York.
Lessened production in some basi.
industries, a reduced volume OF
freight movement, the decline of COM
modify prices, and accentuation Of
the conservatism which characterizes
buying policies have all reacted on
business sentiment, the Survey con
tinues. The passage of the bonus
bill by the senate substantially in the
form approved by the house increases
the likelihood Of the enactment of the
measure despite a possible veto.
And the continued delay in action
on the important matter of tax revis-
ion IS necessarily a disturbing ele-
ment in the business situation. The
numerous congressional inquiries have
also contributed to the weakening of
confidence in the business outlook. A
recent compilation shows that eleven
senate committees and five house
committees, composed of so senator's
and 80 representatives, are engaged
in various Investigations.
Features of Underlying Strength
1t is easy, however, to exaggerate
the significance of the recessions in
some lines of production and trade.
A year ago activity was at an extra.
ordinarily high level, and current re-
cords somewhat below those of that
period are consistent with the main
tenance Of generally favorable bust
ness. Apart from political uncertain
ties, the economic features Of the
business situation indicate the prob
able continuance of production and
trade at close to normal levels. There
is no threat Of a general depression
comparable to that of 1920-21.
President Coolidge's recent address
at the annual luncheon of the As
sociated Press was gratifying in its
promise of continued adherence to
sane and constructive principles. The
president stressed the need of econo-
my in public expenditures, and criti
cized the minority groups of one
kind or another" which are making
"the most determined assaults upon
the public treasury" At present, he
said, "our country does not need q
greater outlay of expense but a great
er application of constructive eco
Monty"
Referring to the question of tax
reduction, he deplored "the failure of
a majority of the congress up to the
present time accurately to compre-
bend and expeditiously to minister TT
the needs of taxation reform" and
pointed out that "the success of the
government does not lie in wringing
all the revenue it can from the peo-
pie, but in making their burden as
light as possible, consistent with the
maintenance of the necessary public
functions"
The prompt acceptance of the re-
port of the Dawes committee by the
governments chiefly concerned gives
renewed hope that a practicable plan
for Gealing 18th the reparation prob
lem has a. last been formulated
Americ \ il. rests are vitality invOlv,
ed in tt c.onornic rehabilitation OF
Europe. Al i will be an occasion
for lasting qualification and @justifi-
able pride if it shall prove that
body of experts, under the Leadership
of an American business man, ha;
pointed the way to a definite remova
Of the chief obstacle to progress II
the restoration of normal world con
ditions.