The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1925-12-17
WARNS BUSINESS
AGAINST OPTIMISM
Levitan Points to 1926 AS
a Good Year for
Every Industry.
TAX LEGISLATION AIDS

Sheboygan, Wis. - O. - A warn
ing to bushes men to go slow despite
the optimistic evidences of returning
prosperity was sounded by State
Treasurer Solomin Levitan in an adj
dress before the Lions club here to-
day.
"There is every indication that 1926
is going to be a good year for all
lines Of business" said Levitan. "The
past year has been good and one Of
the best years in the last decade.
Business came back slowly after the
postwar slump, but sound financing
and conservative business methods
have gradually restored confidence
and put the nation on the high road
to posperity.
"a strong factor in this recovery
has been the come back Of the farmer.
The three disastrous year he exper-
fenced have not yet been made up, but
the hich prices received for nearly all
farm products this fall has gone a
long way toward putting our farm
ers back on their feet. And the farm
ers' good fortune is reflected in I'll
other lines Of business. Employment
conditions all over the country as a
whole are satisfactory, and the pur-
chasing power Of the American public
has been augmented.
Business developments both at
home and abroad during 1925 have
been so generally satisfactory chat the
way now seems clear for complete
many of the powers are getting back
to sounder financial conditions. The
very fact that some II different ma
tions have made arrangements for the
payment of their war debts is evidence
of recovery. This will mean a return
to normal of the European purchasing
power which will mean much to Amer
lean producers on the farms and in
the factories.
II Tax Reduction Encourages.
"Promises of tax reduction, both by
the federal government and the state,
have done much to encourage busl-
ness. Our own state of Wisconsin led
the way in renting the entire state
property tax for this year--a step
which has saved Wisconsin taxpayers
nearly $7,000,0o0.
"There is danger, however, in all
this talk of coming prosperity that we
may be led into the same over-expan-
sion and initiation that trapped us
during the postwar period. It semes
to be peculiar characteristic of bust
ness that about ever so often We lose
our heads. We work for years getting
| business back on a profitable footing
| and then when prosperity and good
time do come, it goes to our heads
and we go wild in our business expan-
sion. Everybody buys more than ne
has right to, mortgaging future
earnings in hopes that the good tim es
will continue. That is why we have
these constantly recurring cycles OF
good times and hard times. II the
American pepole will go slow now
and buy only as they can pay, they
will do a great deal to stabilize, bust
| ness conditions and to keep them on
an even keel.
'.Prosperity is oftentimes harder to
weather than the hard times them
selves, for prosperity often leads to
carelessness, and carelessness to ire
mendous losses. If the American
people will conduct their businesses
and their affairs with restraint and
caution, they will have chance to
| enjoy prosperity for good deal longer
than they usually do"