Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1925-01-03
Press Of Country A Unit In
Predicting A Revival
Along All Lines
PEOPLE ARE COUNSELED
AGAINST OVER CONFIDENCE

There were many who said good
bye to 1924 without much reluctance.
1t was year of more or less depres-
sion. Business showed great lack of
activity. Locally, the farmer suffered
from poor seasons, light crops, and
low prices. Many of the agricultural
class faced the winter with deficit,
and the financial institutions were
forced to extend aid.
When the farmer fails, his condi-
tions gives color to all other branches
of industry. Pocomoke felt the strin-
gency in money due to the set back in
field products; and the Christmas
trade was cut, altho' reports are far
more encouraging than was antici-
pated.
1925, however, gives promise of bet
ter things. The metropolitan press
seems to be unit in forecasting a
period of great prosperity. Reviews
of the situation of labor, transporta-
ton, oil, copper, automobiles, public
utilities, agriculture, silk, and of
many other lines of production, show
that preparations are being made to
meet a revival of business which will
probably surpass any previous one in
the history of the country.
The prediction is the result of the
judgment of various leaders in basic
industrial and financial activities. AND
these leaders have reached certain
conclusions from careful estimate of
present conditions. Great weight is
put upon the outcome of the Presiden-
tial election and the favorable work
ing out of the Dawes plan. At home
and abroad an encouraging view is
taken of a recovery and expansion
of markets. Such authorities as Ell
bert Gary of the steel corporation;
Julius Krittschnitt, of the Southern
Pacific Railroad; Walter Teagle of the
Standard Oil Company; William E.
Knox, of the American Bankers AS
sociation; r. L. Agassiz, president of
several copper companies; Henry L.
Doherty, prominently connected with
the banking business; Alfred P.
Sloan, Jr., president of the General
Motors Company; H. r. Mullison,
president Of large silk company;
all these, and many more profess to
see wonderful resurgance of trade
and an unusual progressiveness along
all lines.
Mr.. Knox writes very interestingly
of the times ahead; in the Baltimore
Sun of Monday last he says:
"There are several main factors"
tc which this favorable outlook is at
tributed. One is the fact that we have
won political peace, with an Admins
tration that guarantees economic
sanity so far as the national Govern
ment is concerned. Another is that
our banking and monetary situation
was never in a better position to
serve expanding business. Industri-
ally also the country has ample plant
capacity equipped with modern and
efficient machinery. Conditions in en-
ployment and wages are such as to
insure large buying power from the
general public. In agriculture the
position of the farmer has been i'm
proved by splendid crops and good
prices. Financial conditions in for
eign countries, whose purchases are
required to take up the Slack of sur
plus production of this country, prom
ise better foreign markets.
Granting that this optimism is
soundly based it may be pointed out
there is one other factor as import
ant as any of the foregoing if we are
to have an era of prosperity that will
continue for any length of time. This
factor is the mental attitude of our
people and the consequent use they
make of the opportunity of prosperity
that is presented. Many a good team
has lost it's game through overconfi-
dence and prosperity is often impair
ed by optimism.
eff BUSINESS men and bankers con-
tinue to use good judgment, expand
ing their operations only as the de-
mand of the public calls for expan-
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