Imperial Valley press., 1926-12-31
nation s
BUSINESS
PLEASING
Closing Year Sets Up
High Records In All
Lines of Trade
NO SIGN OF SLUMP
Cabinet Officials Give
Optimistic Accounts of
COuntry's Affairs.
By JOSEPH S. wAsNEY
United Press Staff Correspondent

w WASHINGTON, Dec. 1l.-Aiilel =
lea S business barometer stood at
new record highs today as tho year
1926 closed. with no indications that
it would fall in 1927.
Government officials and other
leaders in public life predicted gen
orally that the new wear will be as
prosperous as the old. They said
the country is in prime condition.
President Coolidge pictured the
coming year as one likely to be as
successful as 1926. Conditions are
sound and business is good. he said
Secretary of Treasury Mellon said
the "year has been satisfactory to
the last and prosperity is contin-
uing." He attributed this largest
year in business of any nation in the
world to "hard work.
Secretary of Commerce Hoover
described the year as Zone never
surpassed in history Consumption
and production of all commodities
established new high records and
wage rates were the best ever
recorded, Hoover said.
America is closing the year with
n favorable trade balance of about
1919 ,O0O, 900. Exports totalled APP
proximatclv $4,S25, 100000, while
imports amounted to $4,450, 900, 600.
Exports this year were SS4 100000
less than in 1925 while imports We're
$225, 100000 greater.
Mail order houses, five and 10
cent stores, grocery, drug, cigar,
chain grocery and other similar re-
tail stores reported from five to
80 per cent increase in sales this
wear over last. Two large mail or
der houses reported their sales at
about $455, 100000.
The great business turnover for
the wear was shown by check pay
mcnts which in 1926 aggregated ap-
proximatcly $600,100,0 900, COM
pared with $5G9, 1877, 100000 in 1925.
Automobile production was even
greater this year than last. About
I 4,446, 900 motor vehicles were made
in 1926 compared with 4,175,000 in
1928.
While Secretary Mellon said there
has been some over building in the
country, commerce department fig
urcs show that in SO states building
contracts aggregated S52 ,444,O 900
suare feet compared with SS9,545,-
600 square feet last year.
Domestic cotton consumption this
year will total only about 6,600,OOO
bales. while the crop is estimated at
100000 bales. The resulting
surplus has caused depression i'll
southern states, the only section of
the country where the prosperity
boom has not been general.
Public Debt Reduced
The public debt of the country
was reduced nearly $1,000, 100000
leaving the government IS obligation
to citizens at about $1,000, ,000,0 900,
compared with $26,j00, 900, 900, just
after the war.
Customers collections are millions
of dollars ahead of 1925. Income tax
collections are steadily increasing,
despite lower tax rates.
The treasury will close the fiscal
year with a surplus estimated at
$400,00J,00O. This indicates tax
cut before the end of 1927.
Agriculture was the one big in
dustry to report maladjustment in
the postwar prosperity boom. While
the huge cotton surplus lowered the
purchasing power of southern farm,
ers, low prices on other agricultural
products depressed the rest of the
industry.
But taking the country as whole,
leaders contend that "not only have
conditions been found, but there is
every reason to believe they will
continue to be healthful.
con every hand the incentive to
efficiency is production, distribution
and utilization is in full force and
effect.
"Moreover, we have sufficient ir'
reeularities in conditions to cause
everyone to be thoughtful of the
dangers of over confidence and do
his part to avoid them.