The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-09-04
KEEPING UP
With
THE NE WIS
BY LUDWELL DENNY

IL AOD w aAAAA AtLANAN n
XXTASHINGTON, Sept. 4.-Hoo-
w yer is getting the business
breaks. Economic surveys by Gov
eminent and private agencies indi-
cate improved industrial and trade
with better business pros
poets during the campaign months
Prohibition may be an effective
political issue for Smith III certain;
wet spots of the East, but prosper
ity is better vote puller for Hoo
yer in the country at large, accord
ing to the Republican soothsayera.
Democrats, of course, have been
denying much of the q. o. F. pros
perity claim. And. what with the
unemployment and one thing and
another, it looked for awhile in the
spring and early summer as though
hard times might haunt the Hoo
yer candidacy.
That still might happen, but if the
latest economic surveys are accurate
there seems much less chance now
of coming depression.
Dr. Work, who used to run san
itarium before he reached the posi-
ton of Hoover manager via SUM-
dry cabinet posts, stalked into the
Tammany precincts last week and
backed his routine prophecy Of
Hoover victory with this observa-
ton:
Economic conditions are about
the same as they were when the
landslide for Coolidge occurred-lt
anything, they are improved"
Dr. Work is credited with being
wrong so often, not to mention the
possible partisan tinge which unbe-
levers attribute to all battle COM
muniques of political generalisSimoS.
that no one paid much attention TO
his latest prosperity announcement.
But it now appears that the doc
tor was within shouting distance OF
what the economic experts believe to
be the business position of the
country.
TAKE, for instance, the regular
i monthly survey issued today by
the National City Bank of New
York, which usually is reliable as
such things go, and which never
has been accused of undue friendli-
ness to Hoover.
The last summer has given con-
vincing evidence Of business recov-
cry and few persons now have any
doubts about business being good
this fall" says that bank "One in
dustry after another has been fall
ing in line with the better trend, so
that while some unsatisfactory spots
still can be found, general business
unquestionably is getting back rap
idly to normal footing,
again, the country's recuperative
powers have been underestimate,
and revival has come more swiftly
and vigorously than even the most
optimistic had anticipated"
That will be news to the more
than 100000 unemployed workers
throughout the country, and to the
hard-hit coal, lumber and textile
owners. They want to see more
tangible evidence nearer home of
the much-talked-of business recu-
peration. 1t is lean solace to them
TO be told that prosperity is rela-
tive, that the average is what
counts.
officials of the American Fed
Grafton of Labor stressed unennploy-
ment in their Labor day speeches
yesterday.
Likewise, the farmers want to
know how to spell prosperity out Of
the present drop in the price Of
wheat and 20-celt fall in corn.
DUT leaving out the big question
I'D that is, whether the in
dustrial workers and farmers are
getting a fair share from the
present economic system - the
figures support the contention Of
the Federal Reserve board, the
Commerce department, and such
private agencies as the National
City Bank, broad ST., and Duns
that general business conditions are
good and improving.
BY almost a weather miracle, bad
crop prospects have been converted
into bumper yields. The wheat
crop is the third largest on record,
total of about 891 100000 bushels.
The corn yields Of more than 3,000,-
100000 bushels is close to a record.
Including all the leading grain
crops, the estimated increase over
last year is 570,000,000 bushels.
So even with lower prices than
those which obtained when grain.
shortage was forecast, the farmers
have such large crops that their
buying power will be great The
agriculture department index of
farm products purchasing power
now is SO, compared with 100 pre-
war.
This purchasing power of the
agrarian districts is enhanced by
the high prices of dairy products,
hogs and cattle, which in turn
somewhat minimizes the political
reaction in farm States against the
administration and Hoover.
On the industrial side, Federal.
Board figures for July show
production 4 per cent higher than
a year ago.