The Birmingham age-herald., 1924-12-14
March Of Business Not
 Running To Higher Levels Trade, Guided By Conservative Optimism, Disre-
 gards Booster And Moves Cautiously
By JOHN T. FLYNN

NEW YORK.-Three weeks ago, half dozen readers wrote me complaining that I was throwing cold water on our oncoming business boom by talking | about Improvement boom moderate. had written for months that business would go forward but not with rush; rather with a slow, steady, wise and or dered march. So difficult is it to satisfy the appetites of the inveterate booster" that this was referred to by one Of these correspondents as "croaking." By curious irony of fate one of | these letters objected to my account of improved conditions in the textile trade, declaring that it was at variance with all reports from that section. It happens that my statements about | textile conditions are based on the re- ports of the largest. reporting organiza- tion covering the textiel fields. I knew that the mills were putting on new spnidles, but I also knew that this increase was on moderate scale. Now comes the news that Fall River and other mill centers were broadcasting re- ports of increased operations that were absolutely false. The charge is made that this was done to boost the price of cotton. I do not think so. It was part of that silly notion Sd popular with certain business groups that boosting alone can make business good. The public must be on its guard against this kind of propaganda now. The truth is that business is very much improved and is destined to go on improving, leading the country into sustained period of good times, based on very sound methods. But there Is nd boom ahead. Business men don't want one There has been no very striking change in prices. One reporting service reports a slight rise in wholesale com Yr1n rfo as s-1i ifxI,f The fact Is that food prices have gone up with the season. Whether this ad- vance has been enough to lift the gen. eral level of commodity prices Is a thing reporters differ about. The truth seems to be that the tendency of prices as whole is to go up, but that there has been brief interruption in the up ward swing this week.
 Our Diminishing Dollar
 The dollar is worth about the same this week as last. But the general tendency of prices, upward has resulted in a perceptible nibbling at the purchas- ing power of our national standard. In the early part of November the purchas- ing power of the dollar was 662 cents. Today 1t is about 64 cents. There seems no reason to believe this nibbling pro- cess will not continue. Iron prices tend upward. Textiles are strengthening. Food prices will go no lower. Our dol lar may lose another cent or two of this vitality in the next few months.
 Are We Spending Money?
 Official statistics deal with October trade. The first reports from retail trade dealing with the post election period come from the hardware people. Reports from all over the country to this department indicate decided in- crease in the volume of sales. Beyond doubt the farmers are going to mar ket. But they are not rushing in with their hands filled with their newly gotten millions. It is becoming in rcreasingly evident that the farmer is first of all taking care of his old debts paying for the buying he did last year and the year before. But he is also spending in larger volume than he did last year or the year before And his dollars are making trade good in the agricultural sections and the mail order houses He will have, ac- cording to the department of agricul- ture, $50o,000O00 more to spend this yS1r than last. But in purchasing power his income will be equal to $2, ,O0O, ,OOO more than his income last year.
 Here are some increases reported for October over September: Owl Drug Co.,, sales $30,00O greater; Waldorf Res taurant System, sales $5,000 greater; Theater Admission tax payments $5OO,- 900 more; Jewelry and watch sales $135,- 900 more; sales of life insurance S9O,- 100000 more; foreign sales, $1OO,OOO- 900 more.
 Wheels Turning Faster
 The factories are hiring more men and working them longer. But it must not be supposQG that production Is by any means arrived at the level it held during 1923. Here again it is import ant to make the business man under stand that what this country faces is slow, sound and moderate improve ment and not the boom which many operators and manipulators would like to see. Things are better and will be better. That is as much as anyone ought to say.